1st October 2018
New EU-wide legislation on electronic identification (eIDAS Regulation) came into effect over the weekend – on 29 Septement 2018 – enabling cross-border recognition of electronic IDs (eID) through which EU citizens and firms will be able to access banking and other services even if they are from a different Member… Read More
28th September 2018
A London-based man who set up his home as a forgery factory and supplied orders for fake identity documents has been jailed for five years. Sergiy Mykhaylov, who is a Ukrainian national, set up computers and printers capable of producing tens of thousands of documents in his Stratford home. His… Read More
27th September 2018
India’s Supreme Court on Wednesday upheld the validity of a controversial biometric identity system, but flagged privacy concerns and reined in a government push to make it mandatory for everything from banking to telecom services. The ruling was cheered by critics of the system, known as Aadhaar, which has already… Read More
27th September 2018
AP — Uber will pay $148 million and tighten data security after the ride-hailing company failed for a year to notify drivers that hackers had stolen their personal information, according to a settlement announced Wednesday. Uber Technologies Inc. reached the agreement with all 50 states and… Read More
20th September 2018
The United Kingdom’s Information Commissioner’s Office (ICO) has fined US-headquartered Equifax £500,000 after it failed to protect the details of up to 15 million UK citizens during a cyber attack. The incident, which happened between 13 May and 30 July 2017 in the US, affected 146 million customers globally. The… Read More
19th September 2018
AP — A Spanish court on Tuesday rejected a request to extradite a former HSBC employee to serve a five-year prison sentence in Switzerland, where he was convicted for leaking a massive trove of bank data that led to tax evasion probes worldwide. The ruling was… Read More
18th September 2018
Amazon.com Inc (AMZN.O) said on Monday it was investigating suspected internal leaks of confidential information by its employees for bribes to remove fake reviews and other seller scams from its website. Amazon employees are offering internal data and other classified information through intermediaries, to independent merchants selling their products on… Read More
12th September 2018
A whistleblower fighting extradition to Switzerland for leaking details of thousands of clients of HSBC’s (HSBA.L) private bank there said on Tuesday his actions had played a key role in helping other European countries uncover tax frauds. Spain’s High Court is considering Switzerland’s second extradition request against Herve Falciani, a… Read More
12th September 2018
The United Kingdom’s Financial Conduct Authority (FCA) received hundreds of requests for information from regulators and police units from around the world, in line with an initiative to work with other authorities to tackle financial crime. The FCA received 1,064 requests for information and investigatory assistance from over 80 different… Read More
10th September 2018
Europe needs a single agency to tackle money laundering, European Central Bank board member Benoit Coeure said on Friday after recent cases at European Union banks that have exposed gaps in the bloc’s ability to prevent financial crime. “We support any initiative that leads to a more harmonized and… Read More