Cyber crime
FCA survey reveals significant increase in tech failures
Cyber incidents represented 18% of incidents reported to the FCA in year to October, despite firms appearing confident with current systems and processes
Interview: Clair Mills on the meaning of fintech
The Bank of England’s head of change and data management discusses why fintech is so important for a financial sector going into uncharted territory
Bank of Canada steps up financial stability research efforts
Economy faces risks from in-household debt, housing and cyber attacks, senior policy adviser says
Mozambique’s payment system provider cuts off service
BizFirst says it has not been paid by the banks or the country’s central bank for use of its software
Report highlights cyber vulnerabilities in securities market
Structure of the market and number of participants makes sector increasingly difficult to safeguard
Bank of Mexico raises cyber alert to red after payment system breach
Mexico’s interbank payment system suffers second breach in less than six months
Ghana’s central bank ramps up cyber effort
Central bank launches new directive and security operations centre
Cyber security should become part of a firm’s culture – Irish deputy governor
Warnings must not get diluted as they pass up the chain, Sibley says
Report says financial firms may be ‘overconfident’ about cyber
Accenture’s research shows only around 20% of firms are making improvements to IT security
Cyber crime potentially biggest risk to Danish banks, central bank says
Central bank study finds most financial institutions have reinforced their security since 2016
Sarb’s Groepe says cyber security must be adaptable to changing landscape
It is “essential” for financial institutions to have “agile and responsive” practices in place, deputy says
Kenyan central bank toughens cyber security standards
Regulator issues minimum standards for cyber security for payment system providers
The battle for cyber resilience
The cyber attack on Bangladesh Bank prompted central banks around the world to change their approach and refocus on contingency planning, but are they ready now?
ECB unveils guidelines for hiring ‘ethical hackers’
“Tiber-EU” framework designed to help financial institutions toughen cyber defences
Central bank cyber security: a weak link in the financial system?
Disgruntled hackers are targeting central banks, whose cyber defences may not be up to the test
UK regulators review financial firms’ operational resilience
Firms must ensure processes can be maintained after disruption - regulators
Bahamas central bank traces website breach to third party
Central bank says no personal data was taken but some administrator credentials were included in stolen data
Russia changes security operation, makes senior appointments
Bank of Russia deputy governor appointed and monetary policy head retires
FSB outlines ‘cyber lexicon’
Group hopes common language will aid cross-border efforts to tackle cyber threats
BoE to launch ‘cyber stress tests’
Firms will be expected to demonstrate they can recover from a breach within an agreed timescale, or face an intervention from supervisors
South African central bank puts cyber security on strategic agenda
Sarb says it has put “base infrastructure” for security incident technology in place
Bank of Finland working on payments backup system
Board member says Finland must be able to maintain control of “critical infrastructure” should disruptions occur
Bank of Mexico admits $15.2 million went missing in cyber heist
Central bank says customers’ accounts were not penetrated; new cyber unit will look to strengthen internal and external controls
Central banks should create national cyber defence – Canada’s Dinis
Not enough for institutions to maintain their own “alarm systems”, Bank of Canada COO says, highlighting the usefulness of cyber stress tests