An international criminal network that used malware to try to steal $100 million from more than 41,000 victims, has been dismantled after a law enforcement operation spanning several countries.

The US House of Representative is launching task forces looking into fintech and artificial intelligence in financial services.Set up by the House Committee on Financial Services, the fintech task force will look at domestic and international regulation of the nascent sector as well as the infrastructure and legal and regulatory framework for efficient payments.

Interbank payment network Swift is positioning itself as a cutting edge IT shop as it seeks to recruit 150 talented IT professionals worldwide.

Hackers have stolen 7000 bitcoins worth $40 million in one transaction on crypto exchange Binance.
Binance announced this morning that it had discovered a "large scale security breach" involving the theft of user API keys, 2FA codes, and potentially other info, alongside the withdrawal of 7000 bitcoins.

Citi’s Treasury and Trade Solutions (TTS) has launched Citi Verify, a new identity and account verification solution that helps clients streamline customer onboarding, reduce the risk of improper payments, and drive operational efficiencies.

IBM and Thomson Reuters are fusing their AI and data expertise to help financial institutions meet regulatory compliance requirements. The new regtech offering will be delivered from the IBM Cloud and feature real-time financial services data from thousands of content sources.

The UK payments industry is undergoing an unprecedented transformation, driven by the twin engines of growing adoption of technology and changing consumer expectations.
This has led to a race to launch innovative new payment products, services and business models to meet growing customer demand.