22nd May 2019
In early 2018, in a complex of low-rise buildings in the Australian capital, a team of government hackers was engaging in a destructive digital war game. The operatives – agents of the Australian Signals Directorate, the nation’s top-secret eavesdropping agency – had been given a challenge. With all… Read More
16th May 2019
The Trump administration hit Chinese telecoms giant Huawei with severe sanctions on Wednesday, adding another incendiary element to the U.S.-China trade dispute just as Treasury Secretary Steven Mnuchin said he would visit China soon for more talks. The Commerce Department said it was adding Huawei Technologies Co Ltd and 70… Read More
14th May 2019
The European Union’s financial privacy rules could face renewed scrutiny from regulators and lawmakers in the aftermath of a €200-billion money laundering scandal that went undetected in the bloc for years, according to Bloomberg. The disclosure that Danske Bank’s Estonian branch served as a conduit for Russian money laundering highlights “huge,”… Read More
9th May 2019
The UK’s Financial Conduct Authority (FCA) is increasingly turning to machine-learning technology to identify companies and individuals that launder money and pose other risks to the financial sector, an official said Wednesday. As part of that effort, the FCA is backing the development of technical solutions, particularly in relation to… Read More
21st March 2019
The Financial Conduct Authority has penalised UBS £27.6 million for making over 100 million errors and failing to provide accurate information regarding the reporting of transactions. The shortcomings relate to transaction reports made from 2007, up to as recent as 2017. The bank also failed to take ‘reasonable’ care to… Read More
19th February 2019
AP — British lawmakers issued a scathing report Monday that calls for tougher rules to keep Facebook and other tech firms from acting like “digital gangsters” and intentionally violating data privacy and competition laws. The report on fake news and disinformation on social media sites followed… Read More
18th February 2019
The British government has decided it can mitigate the risks arising from the use of Huawei Technologies Co Ltd in 5G networks, the Financial Times reported on Sunday, citing two sources familiar with the conclusion of Britain’s National Cyber Security Centre (NCSC). The conclusion reached by Britain would “carry great… Read More
11th February 2019
Top executives at some banks have commended the newly implemented Senior Managers and Certification Regime (SM&CR), whose effectiveness was recently questioned over its handling of Barclays CEO Jes Staley. In a statement discussing a video on its site, the Financial Conduct Authority’s (FCA) quoted a number of bank bosses… Read More
8th February 2019
AP — Amazon CEO Jeff Bezos said Thursday he was the target of “extortion and blackmail” by the publisher of the National Enquirer, which he said threatened to publish revealing personal photos of him unless he stopped investigating its acquisition of other private images and… Read More
5th February 2019
AP — Facebook, trudging through its awkward teenage years, is turning 15 on Monday. Launched in 2004 as “TheFacebook,” the service was originally intended only for Harvard students. It’s now a massive global business that connects some 2.3 billion users. It was born in an era… Read More