HSBC has appointed a technology advisory board of top-level specialists from around the globe as the banking giant is keen to capitalise on opportunities in artificial intelligence (AI), biometrics, blockchain and data science, combat cybercrime and leverage its global infrastructure.
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.
Customers of Lloyds, Halifax and TSB are unable to access their online accounts after a major outage. Based on Twitter feeds and the website monitoring service, Down Detector, there are problems across the UK. Many Twitter users, no strangers to tedious whinging at the best of times, are saying they can’t access accounts online or […]
The Bank of Italy, the Italian Banking Association and the ABI Lab Consortium have signed an agreement to set up Certfin – “a highly specialised Computer Emergency Response Team (CERT) for Italy’s financial sector”.
Hackers have stolen RUB 2 billion ($31.4 million) from correspondent bank accounts at Bank of Russia, the country’s central bank.
Rising cybercrime in India is no secret. According to a report by Symantec, India now ranks third in the world, after the US and China, as a source of malicious activity. In fact, the National Crime Records Bureau data reveals that in the three years up to 2013, registered cases of cyber crime were up 350%, from 966 to 4356. Dubious distinctions both, and give banks and the financial sector in India cause for worry.
The threat of cybercrime shows no sign of diminishing any time soon, but to what extent can market infrastructures and financial institutions protect themselves against hacking attacks?
One in five UK consumers (21%) have had personal details stolen and their bank accounts used to buy goods and services as a result of a cyber security breach, according to new research from business advisory firm Deloitte.
The majority of businesses do not have cyber security insurance, with many not even aware such protection exists – and even those that do have insurance in place may find themselves at a loss if they don’t have the correct cover. The solution may be to mandate more data sharing and raise public awareness, according to speakers at a roundtable organised by software security company Kaspersky Lab.
Data breaches are getting worse with 246 million records compromised by criminal activity in the first six months of 2015, according to new figures published by digital security company Gemalto. The numbers suggest cyber-crime will remain a top priority for banks for the foreseeable future.