Financial CrimeRSS

Cybersecurity: computers or humans – where does the threat lie?


Digitalisation plays a key role in the fight against payment fraud. Yet Commerzbank’s cybercrime specialists in cash services show that even in this technologically advanced environment, security threats persist. Companies must take steps to ensure that human beings – as well as computers – are protected against crime.

Blockchain and Bitcoin round-up: 22 February 2017


Jargon defeated. Unnecessary words deleted. A brief round-up. Featuring Adel, Bitfinex and crime. If something’s rotten in the state of Denmark, it’s going to get found out. Danish newspaper Berlingske has revealed that police stopped drug traffickers by tracing Bitcoin transactions. It’s not the first time great Danes have done good deeds. Last month, the […]

Top fintech stories this week – 3 February 2017

Banking Tech 2

Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Cyren sounds siren over Bitcoin siphon scam


US-based internet security firm Cyren has discovered an outbreak of malware which is stealing passwords as well as Bitcoin from cryptocurrency wallets on PCs. Avi Turiel, director of threat research at Cyren, says in a blog post this “versatile” keylogger malware is being delivered as an attachment to phony bank transfer emails, which inform the […]

CIBanco deploys Swift’s compliance services suite

Fighting financial crime with Swift's tools

Mexico-based CIBanco has signed for a compliance services suite from Swift, which comprises compliance analytics and sanctions screening tools and KYC Registry.

Hackers hold Valartis Bank customers to Bitcoin ransom

Valartis Bank

Customers of Valartis Bank in Liechtenstein are being held to ransom by hackers, according to German tabloid Bild. The blackmailers are demanding 10% of their account balances in Bitcoin or the customers face their personal details being sent to the media and financial watchdogs. An unusual threat but the hackers might feel the bank’s customers, […]

Latin American banks turn to Swift for crime compliance

New addition to Swift's network

Eight central banks in Latin America have adopted Swift’s financial crime compliance solutions to combat financial crime. The central banks of Belize, Bolivia, Costa Rica, Curacao, Dominican Republic, Ecuador, Haiti and Paraguay, have implemented the solutions, including Swift’s KYC registry and sanctions screening. Some of the banks have also endorsed the adoption of the KYC […]

Millions at risk from India ATM hack


ATMs at some of India’s biggest banks have suffered a malware attack, with around 3.2 million debit cards now at risk. Most of the affected cards belong to HDFC Bank, ICICI Bank, State Bank of India (SBI) and Yes Bank. The malware potentially means unauthorised individuals can get access to the data on debit cards […] gets hacked

Bitcoin wallet provider has been the victim of a hack attack on its DNS servers. It experienced an outage for several hours while under attack, and Peter Smith, the CEO and co-founder, says its internal systems “alerted our infrastructure team who immediately began to assess the attack” but it “became clear the attackers gained […]

Wells Fargo fined $185m for fake bank account scam


Fake it until you make it… unless you get caught. Employees at Wells Fargo have been found guilty of creating millions of fake bank accounts and credit card numbers over the past five years, as an unsubtle attempt to boost sales figures. For this illegal activity, the bank has been fined $185 million, including a […]