SecurityRSS

Ghana’s Premium Bank opts for NetGuardians’ anti-fraud solution

ICSFS gains new live site in Ghana

Ghana-based Premium Bank has selected NetGuardians’ anti-fraud solution FraudGuardian. FraudGuardian uses a “patented big data model to correlate and analyse human behaviours across the entire bank system including eBanking, service channels, IT systems and financial transactions”. The firm says it can help banks prevent fraud in a proactive manner. FraudGuardian will integrate with the Temenos […]

Looks like cyber criminals are pretty smart after all

Cybercrime

New research from Gartner has shown enterprise organisations are beginning to accept that they are not as smart as cyber criminals, and investments over the course of 2017 will reflect this.

Five large banks in Russia suffer major DDoS attack

Russian banks under cyberattack

Five Russian banks, including Sberbank and Alfa-Bank, have been hit by a major cyberattack, according to the country’s central bank and regulator, Bank of Russia.

Digital security requires a complex hybrid approach

Russell Stern, Solarflare

In early June, Reuters disclosed that the US Federal Reserve had detected more that 50 cyber security breaches from 2011 through 2015. It should be noted that this may only represent a small fraction of the Fed’s total exposure during this period. It turns out that, unlike the Washington-based Board of Governors, the 12 privately […]

Unisys gains new taker for Stealth data protection solution, Yorkshire Building Society

Yorkshire Building Society Group HQ

The UK’s second largest building society, Yorkshire Building Society Group (YBSG), has opted for Unisys’ Stealth product to secure customer data and achieve compliance with the new Payment Card Industry Data Security Standards (PCI DSS). This is a five-year deal. YBSG will use Stealth to micro-segment its network to create secure communities of interest (COIs), […]

Yes Bank says yes to Gemalto’s mobile payments for UPI

India

Yes Bank has deployed Gemalto’s SafeNet Network HSM to secure mobile payment transactions for its customers under India’s recently implemented Unified Payments Interface (UPI). UPI was launched in April by the National Payments Corporation of India (NPCI), and will go live by the end of this month with 15 participating banks. It offers instant, online […]

Hackers use access to Swift network to steal $10m from Ukraine bank

Swift logo

Hackers have used the Swift network to steal $10 million from an unnamed Ukrainian bank, according to an independent IT monitoring organisation that spoke to the Kyiv Post. This latest incident is part of a spate of thefts when the banks’ access to the Swift network was used to execute them. Recently, investigators said they […]

When banks leave the front door open

Claus Rosendal, SMS Passcode

Cyber attacks against the banking industry have soared in the last few years. And financial institutions now face 300% more attacks than any other industry. Comparatively with other industries, the financial services industry isn’t shy where it comes to cyber security investment and generally has a superior level of protection. But this attracts a more […]

Money 20/20 Europe: Biometric identity, SMEs and final day’s sessions round-up

money 2020

Here’s a round-up of yesterday’s (6 April) panel discussions and today’s (7 April) sessions at Money 20/20 in Copenhagen. In “Biometric identity and its applications in financial services and payments”, on 6 April, it was a case of the panel moderator questioning the audience as the first step. When asked if they had biometric authentication […]

Typo spells confusion in $101m cyber bank heist

Cybercrime1

A $101 million cyber heist has central bank officials from Bangladesh to New York quarrelling over what may be one of the biggest and boldest bank raids in history, according to CNBC. Hackers allegedly breached the Bangladesh central bank’s security system and then pretended to be Bangladeshi officials to send a series of requests for […]

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