18th October 2018
Public companies that fail to tighten their cyber security controls could be violating federal law, the U.S. Securities and Exchange Commission (SEC) said on Tuesday. The regulator’s warning came in the form of a report on its investigation to assess whether nine companies that had been victims of cyber-related frauds… Read More
16th October 2018
AP — The nation’s second-largest health insurer has agreed to pay the government a record $16 million to settle potential privacy violations in the biggest known health care hack in U.S. history, officials said Monday. The personal information of nearly 79 million people — including names, birthdates, Social Security… Read More
5th October 2018
AP — North Korea’s nuclear and missile tests have stopped, but its hacking operations to gather intelligence and raise funds for the sanction-strapped government in Pyongyang may be gathering steam. U.S. security firm FireEye raised the alarm Wednesday over a North Korean group that it says… Read More
4th October 2018
Mauritius banking group SBM Holdings said on Wednesday that its Indian operations suffered a cyber fraud earlier in the week, and that the bank has potentially lost up to $14 million. SBM said that no loss had been caused to customers and that the Indian business operations would continue as… Read More
2nd October 2018
The Financial Conduct Authority (FCA) has fined Tesco Personal Finance plc (Tesco Bank) £16,400,000 for failing to protect its customers against a November 2016 cyber attack and the resulting financial crimes that occurred. The banking watchdog found that cyber attackers exploited deficiencies in Tesco Bank’s design of its debit card,… Read More
12th September 2018
U.S. securities law can be used to prosecute fraud cases over cryptocurrency offerings, a New York federal judge ruled on Tuesday in what appeared to be the first court decision to address the issue. The ruling from U.S. District Judge Raymond Dearie in Brooklyn allows federal prosecutors to pursue their… Read More
11th September 2018
New York’s Department of Financial Services (DFS) has authorised two firms to offer a price-stable cryptocurrency or “stablecoin,” which is pegged to the U.S. dollar, and stressed the need for them to implement effective controls to prevent money laundering, terrorism funding and other illegal activities. The regulator said it… Read More
5th September 2018
European Union parliamentarians have approved proposals that will mete out unilateral jail sentences across the bloc for non-cash payment fraud, including those involving virtual currencies. Gaps and differences among EU countries’ laws can hamper the detection and punishment of crimes such as fraud and counterfeiting of credit cards, electronic wallets,… Read More
5th September 2018
Paul Pester, the chief executive of Britain’s crisis-hit TSB Bank, is stepping down after months of pressure following a botched IT project that has cost more than 200 million euros ($231 million). Pester ran the lender for seven years but was heavily criticised for his handling of the IT update… Read More
24th August 2018
The U.S. Securities and Exchange Commission said on Thursday it will review a decision by its staff to block nine bitcoin-based exchange-traded funds from coming to market. Staff at the SEC on Wednesday rejected applications for new funds from three companies, suggesting they were not yet convinced that the products… Read More