Cyber crime
BoE collaborates with NY regulator on crypto supervision
Senior staff to exchange expertise in digital payments and distributed ledger technology
Financial sector facing increased cyber risks – DNB official
Deputy governor says institutions’ dependence on vital infrastructure makes them vulnerable to attack
Financial Stability Benchmarks 2024 – model banks analysis
Further breakdowns of the data highlight patterns in governance, regulatory reform and cyber risk
More than half of US organisations ‘vulnerable to IT failure’
New research underlines cyber risks to central banks following CrowdStrike IT outage
Vietnam mandates biometric verification for many online transactions
Bank customers must provide face or fingerprint ID for transactions over $393
BIS finds a third of jurisdictions not developing crypto regulations
Annual CBDC and crypto survey finds decline in expected retail CBDC launches by 2030
Ransomware payments can be necessary, say panellists
Paying off hackers may be only way to safeguard financial stability, despite risks
Swift tests AI-driven fraud detection
Pilot projects aim to detect fraudulent activity and improve information sharing
Fed releases guidance on third-party services
Fed board warns of possible operational, compliance, financial and strategic risks
Binance founder sentenced to four months in prison
Nigerian court adjourns separate money laundering case against the crypto exchange
US requests three-year prison sentence for Binance founder
World’s largest crypto exchange agreed to pay $4.3 billion for violating money laundering laws
MAS partners with Mastercard to tackle cyber risks
Singaporean central bank and payments firm will share information and conduct joint training
IMF officials warn cyber risks are growing
Systemic and third-party cyber risks pose threats to central banks and firms
Digital money could boost Pacific island economies – IMF research
Loss of correspondent banking relationships may be offset by digital money infrastructure
IMF hit by cyber attack
Fund says attack did not target top leader and it has “re-secured” 11 compromised email accounts
RBNZ to impose cyber reporting rules on financial institutions
From April 8, New Zealand’s banks will need to disclose major cyber incidents within 72 hours
Riksbank HR system restored 17 days after ransomware attack
Other incidents using Akira software reported across the world since 2023
EquiLend cyber hack exposes trade reporting dependence
Ransomware attack at securities lending platform disrupts regulatory compliance
Swedish central bank affected by ransomware attack
Riksbank’s HR and payroll reportedly still impeded after hackers targeted third-party cloud provider
Cyber security remains critical concern for risk managers
High income central banks put greater emphasis on market and credit risks
BoJ’s CBDC designed to hold ‘minimum’ amount of user data
Offline solutions deemed to pose too great a risk of double spending and counterfeiting