Cyber crime
US regulators asked to play greater role in cyber security
Financial institutions cannot battle threats on their own, the CFTC is told
Regulators told to play greater role in cyber security
Companies can’t battle threats on their own, CFTC told
Swift rolls out new cyber defences for central banks
System uses machine learning to spot patterns and anomalies, so central banks and other institutions can act early on suspicious transactions
North Korea linked to Bangladesh Bank heist
North Korean IP address used in theft, claims Russian cyber-security firm; hacker group Lazarus’ fascination with financial gain “relatively new”
Danish central bank advocates specific cyber security testing
Survey shows only 50% of financial institutions specifically test their crisis response plans against cyber attacks; cyber security needs to be backed by senior management
Researchers dig further into ‘Lazarus’ cyber attacks
Latest effort to crack case of cyber criminals unearths “fairly sophisticated” mechanism to target banks and regulators, and less sophisticated efforts to mislead investigators
BoE to work with Anomali on cyber intelligence
Cyber security firm to work with BoE on its 'Threatstream' technology to improve the bank's threat intelligence framework and the sharing of such information
‘Lazarus’ hackers seek fresh targets via regulator websites
Group linked to Bangladesh Bank hacks may have compromised the website of the Polish FSA, using it to spread malware in a “watering hole attack”
Bank of Russia sets up fintech body and gains internet-blocking powers
Central bank holds policy rate saying recent fall in prices due to “temporary” factors
Italian police arrest two over Draghi hacking allegations
Investigating official suspects wide-ranging conspiracy; attempts made to hack over 18,000 email accounts, local authorities say
US card fraud higher than in countries with chip technology – Fed study
Study finds card transactions are on the rise but cheques still important; limited adoption of chip technology seems to be contributing to fraud
Global crises raise need for digital financial inclusion – BIS’s Caruana
Refugee crisis, climate change, banking challenges and cyber crime all point to the need for better inclusion through the use of technology, says BIS chief
Bank of Russia records decrease in fraudulent transactions
Central bank says decrease in cyber crime is a result of new centre for Cyber-Attack Monitoring and Response in the Financial Centre; official says Bank of Russia supports initiative for harsher punishment of cyber crime
Swift users attacked again by new malware – research
Cyber security firm finds Swift users are being attacked by a second hacking group, using malware that manipulates logs and messages, removing them from client systems
G7 sets out cyber security ‘building blocks’
Eight “elements” published to guide the financial sector when implementing cyber security provisions; information sharing and contingency planning are important
Swift unveils software to help users detect fraud
Financial messaging service hopes new software will allow users to independently detect unusual activity; software to be launched in December this year
HKMA to launch cyber security training framework in December
New technology has made cyber security more important than ever, says Chan; HKMA to widen pool of talent as part of new initiative to be rolled out at the end of the year
Central banks set up task force to fortify cyber security
Central banks to review current cyber security practices; Cœuré stresses need for “adequate checks” at each stage of the payment process
Swift threatens to report users who fail to update software
Cyber security threat is "persistent, adaptive and sophisticated – and it is here to stay”, Swift says; customers have until November 19 to install updates
Sarb governor stresses need for cooperative approach against cyber risk
New legislation will give central bank power over financial stability; now is the time for financial industry to become “proactive” in fostering “healthier” cyber culture, says Kganyago
Swift's Gottfried Leibbrandt on restoring trust in global payments after $81m Bangladesh fraud
Swift CEO Gottfried Leibbrandt speaks to Christopher Jeffery about how to restore trust in the international payments architecture following the $81 million cyber theft from Bangladesh Bank
Swift CEO gives network top marks despite Bangladesh Bank theft
‘No room’ for complacency says Leibbrandt, noting it is now up to the banks to upscale their security infrastructure
Philippines central bank fines RCBC over Bangladesh heist
Rizal Commercial Banking Corporation ordered to pay one billion pesos, after stolen funds from Bangladesh bank were transferred to four accounts held at the institution
Manpower a key tool in fending off cyber threats – RBI’s Gandhi
Skillset for security is evolving, says RBI deputy governor Gandhi, as he draws attention to new cyber security framework now in place for banks