June 1, 2016
Domestic authorities in European Union member states should stress-test their financial institutions for cyber risks, a top EU supervisor said, saying banks might be required to hold extra capital as a buffer against what is an emerging threat. Speaking to …
May 31, 2016
Controversial cyber security regulations for China’s insurance industry, now before the World Trade Organization (WTO), could soon take effect despite efforts by foreign business groups to persuade Beijing to change tack. Those groups say the draft measures are vague and …
May 27, 2016
Investigators are examining possible computer breaches at as many as 12 banks linked to SWIFT’s global payments network that have irregularities similar to those in the theft of $81 million from the Bangladesh central bank, according to a person familiar …
May 24, 2016
Shortly after 7 p.m. on January 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo complied. Over …
May 19, 2016
The Bank of England ordered UK banks to detail steps taken to secure computers connected to the SWIFT bank messaging network about two months after a still-unidentified group used the system to steal $81 million from Bangladesh Bank, according to …
May 19, 2016
Firms across the financial and related professional services industry need to take urgent action on their cyber risks, which present a “real and present danger” to the financial system, according to a new report published by TheCityUK and Marsh. Only …
May 18, 2016
Guy Carpenter & Co., the global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Cos., has formed a strategic alliance with cyber security specialist Symantec Corp. to create a cyber aggregation model. Cyber attacks are estimated …
May 16, 2016
Europe’s biggest software company, SAP, is the subject of a U.S. security alert over a vulnerability the firm disabled six years ago that can still give outside attackers remote control over older SAP systems if the software is not properly …
May 13, 2016
SWIFT, the global financial messaging network that banks use to move billions of dollars every day, warned on Thursday of a second malware attack similar to the one that led to February’s $81 million cyber heist at the Bangladesh central …
May 11, 2016
Investigators examining the theft of $81 million from Bangladesh’s central bank have uncovered evidence of three hacking groups — including two nation states — inside the bank’s network but say it was the third, unidentified group that pulled off the …