Cyber crime
Experts question CPMI-Iosco cyber guidance
Speedy settlement and resumption of services after cyber attack could be counterproductive
Bank of Russia centre records over 20 ‘major’ attacks on payment systems
Attackers attempted to steal 2.87 billion rubles from Russian bank payment systems, cyber-security report reveals; central bank seeks to amend legislation to allow the suspension of suspicious transactions
Swift brings in external firms to support security work
UK firm BAE Systems and Dutch company Fox-IT will be part of effort to strengthen cyber security; Swift says information-sharing initiative has “grown significantly” since launch
Gaps in banking and AML laws need urgent attention, Philippine deputy says
In the wake of the Bangladesh hacking scandal, the Central Bank of the Philippines wants to improve the legal framework underpinning the banking sector
Central bankers recognise technology as both friend and foe
Speakers at BIS conference see technology reshaping markets and regulation for better and worse, as Andrew Lo argues solution is to make the technology cope better with human “foibles”
Cyber security tops agenda as Bangladesh heist report completed
Asian FSB members focus on improved cyber security, as committee investigating Bangladesh Bank heist submits its final report, with hints insiders at the central bank could be implicated
Swift details plan to toughen cyber defences
Five “strategic initiatives” designed to help global financial community better prepare for future attacks, as Swift says it is "clear" the global community will be targeted again
Bahrain central bank establishes cyber-security emergency response team
Executive director says procedures and responsibilities of the team are being set up; it forms part of a wider approach to addressing threats and incidents in the financial sector
HKMA prepares cyber security ‘fortification’
Monetary authority seeks to build a framework for assessing cyber risks as well as providing training and building infrastructure for sharing “threat intelligence”
MAS official sets sight on expanding cyber insurance
Bernard Wee considers how demand- and supply-side challenges hindering the cyber insurance market are being addressed
New York Fed official stresses third site capacity for FMIs
Richard Dzina argues systemic FMIs should consider maintaining technologically diverse third site solutions to successfully deal with present cyber challenges
Riksbank urges FMIs to work against cyber threats on strategic level
Survey reveals not all FMIs have strategy to counteract cyber threats; Riksbank suggests work needs to be done at a “strategic level”
Researchers uncover details of ‘sophisticated’ Bangladesh Bank hack
Hackers showed deep understanding of Swift systems, going to great lengths to hamper Bangladesh Bank’s response, research by BAE finds
The People’s Bank of China’s internet finance dilemma
China’s central bank faces a challenge encouraging the development of market-based internet financial services while regulating a business where a $7.6 billion Ponzi scheme recently blew up
Iosco considers response to ‘growing threat’ of cyber risk
Securities firms and regulators are at an early stage in responding to cyber threats, report finds, but examples of good practice are starting to emerge
Lane reveals string of transparency initiatives in first speech as Irish governor
Central Bank of Ireland discloses new details on salary structures as governor Lane reveals new minutes, reviews and website