IT for financial services

National Crime Agency sting operation infiltrates cyber crime market

The UK National Crime Agency has tricked thousands of potential cyber criminals into registering with a fake website pretending to offer tools for creating DDoS attacks Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Over a third of UK’s online transactions used digital wallets

Mobile phone-based digital wallets are fast becoming a preferred method of buying goods and services online Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nationwide Building Society begins another ‘generational’ tech change

Nationwide Building Society's migration of its payments to a cloud-based software platform is a ‘generational change’ Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

US bakery pilots Amazon tech for palm payments

Amazon's palm-scanning authentication technology is being used by US bakery and café chain to boost use of its loyalty programme Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Ransomware gangs harass victims to ‘bypass’ backups

Analysis reveals how cyber criminal gangs are turning to extensive, targeted harassment campaigns to force victims to pay up, even if their backups are in good order Continue Reading

By

• Alex Scroxton, Security Editor

NatWest announces ID service for its customers

The identities of NatWest customers engaging with businesses online can be confirmed by the bank's ID service in seconds Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

BBC cracks down on TikTok after review

The BBC is asking staff not to install TikTok on corporate-owned devices without a justified business purpose, although its use will still be allowed to share media content with its audiences Continue Reading

By

• Alex Scroxton, Security Editor

Inside AIA’s cloud adoption journey

The Hong Kong-based multinational insurance firm has moved 86% of its IT infrastructure to public cloud to drive growth, productivity and efficiency Continue Reading

By

• Aaron Tan, TechTarget

UK TikTok ban gives us all cause to consider social media security

The UK government’s ban on TikTok should give all organisations cause to look into what information social media platforms are collecting on us, and what they are using it for Continue Reading

By

• Alex Scroxton, Security Editor

BEC attacks doubled in 2022, outstripping ransomware

Massive growth in the volume of Business Email Compromise or BEC attacks was linked to a surge in successful phishing campaigns, according to data from Secureworks Continue Reading

By

• Alex Scroxton, Security Editor

Mandiant: Dangerous MS Outlook zero-day widely used against Ukraine

A zero-day vulnerability in Microsoft Outlook that was fixed in the March Patch Tuesday update has likely been actively exploited by Russian actors for a year or more, and its use will now spread rapidly Continue Reading

By

• Alex Scroxton, Security Editor

Chinese Silkloader cyber attack tool falls into Russian hands

A loader tool used by Chinese cyber criminals seems to have been enthusiastically taken up in recent weeks by Russian ransomware operators Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft patches Outlook zero-day for March Patch Tuesday

A highly dangerous privilege escalation bug in Outlook is among 80 different vulnerabilities patched in Microsoft’s March Patch Tuesday update Continue Reading

By

• Alex Scroxton, Security Editor

Central bank digital currency use set to soar over next seven years

The use of central bank-backed digital currencies is set to explode over the next seven years as governments drive adoption to increase financial inclusion Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

As Covid fades away, what’s the future of remote work in Europe?

Many IT leaders are still supporting some form of work from home, and a trend is beginning to take shape in Europe Continue Reading

By

• Pat Brans, Pat Brans Associates/Grenoble Ecole de Management

MI5 to oversee new National Protective Security Authority

The new National Protective Security Authority will address various national security threats including state-sponsored cyber espionage against UK targets Continue Reading

By

• Alex Scroxton, Security Editor

Nationwide goes cloud native to transform payments

Nationwide Building Society is moving retail payments from on-premise systems to a cloud-native platform Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

What can security teams learn from a year of cyber warfare?

With the passing of the first anniversary of Russia’s invasion of Ukraine, we reflect on the ongoing cyber war, and ask what security leaders can learn from the past 12 months Continue Reading

By

• Alex Scroxton, Security Editor

Can the UK keep its fintech crown?

In this week’s Computer Weekly, two years after the Kalifa report laid out a roadmap for continued fintech sector growth, UK entrepreneurs and startups are worried about the lack of progress. We look at the top tech trends in retail and find out which companies are leading the way. And we examine six ways to slash IT emissions. Read the issue now. Continue Reading

Fintech industry calls for regulatory change to help struggling consumers

Fintech trade body calls for regulatory changes to allow fintechs to broaden services for people struggling in the cost-of-living crisis Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Shawbrook Bank uses Pegasystems for low-code business process rewrite

SME lending and savings bank Shawbrook Bank is using a low-code platform from Pegasystems to rewrite outdated business processes Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Two years on from the Kalifa report, UK fintechs speak out

Two years after the UK government’s Kalifa fintech report, entrepreneurs warn of a continuing Brexit headache and slow regulatory reform Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Government announces national fintech hub

The UK Treasury has announced a centre for fintech innovation, two years after a major report recommended one Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: Training can no longer be a compliance exercise

Historically, security training has tended to take a compliance-based focus, a ‘tick-box’ exercise using generic, off-the-shelf courses. This needs to change, says Hayley Watson of Turnkey Consulting. Continue Reading

By

• Hayley Watson, Turnkey Consulting

Cyber training in 2023 needs to drive measurable change

2023 will see more focus on security training programmes that not only provide employees with an understanding of the risks they face but more importantly drive measurable behavioural change, says PA Consulting’s Richard Allen Continue Reading

By

• Richard Allen

WithSecure proposes ‘undo’ button for ransomware

WithSecure’s Activity Monitor technology supposedly overcomes the shortcomings of sandbox test environments, and may be able to stop ransomware attacks from ever happening Continue Reading

By

• Alex Scroxton, Security Editor

Santander SME platform harnesses Salesforce

Bank platform that helps UK small and medium-sized enterprises expand export opportunities is built on cloud technology from Salesforce Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Researchers find new bug ‘class’ in Apple devices

A group of vulnerabilities in Apple products that stem from the ForcedEntry exploit used by spyware firm NSO constitutes a whole new class of bug, say researchers at Trellix Continue Reading

By

• Alex Scroxton, Security Editor

Dutch cyber security professionals experience stress akin to soldiers in war zone, claims expert

Cyber attacks are taking a heavy toll on Dutch IT professionals, with over a third reporting that their mental health suffers as a result Continue Reading

By

• Kim Loohuis

Half of cyber leaders to switch jobs by 2025, citing stress

A substantial number of cyber security leaders are plotting their great escape, saying the industry is leaving them too stressed to go on, according to a study Continue Reading

By

• Alex Scroxton, Security Editor

Seven million people in UK used open banking services in 2022

More than seven million people used services that harnessed open banking last year, with 1.2 million of these first-time users Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Cyber security training: Insights for future professionals

Future cyber security professionals need soft skills as well as technical ones, says security educator Sudeep Subramanian Continue Reading

By

• Sudeep Subramanian

UK finance firms short of data skills

Financial services companies in the UK lack the data skills they will need to succeed in an increasingly digital world Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Average consumer spent more than £3,300 using contactless payments in 2022

The amount of money spent using contactless payment technology continues to rise as consumers take advantage of higher allowable spending limits Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

App-based Zopa bank buys BNPL fintech

App-based Zopa bank is adding a buy now, pay layer platform to its technology stack through its first acquisition Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CIO interview: Hans van der Waal, director of global IT, Travelex

Travelex has weathered a storm that saw it sink into administration, before emerging to solidify its digital foundations for the future Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Financial advisory firm Succession Wealth probes cyber attack

Aviva-owned wealth consultancy and financial advisory practice Succession Wealth was hit by an undisclosed security incident on 8 February Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: New trends and drivers in cyber security training

Self-paced, interactive, bite-sized learning is becoming the optimum path for cyber security training in the workplace, says John Tolbert of KuppingerCole Continue Reading

By

• John Tolbert, KuppingerCole

Multi-purpose malwares can use more than 20 MITRE ATT&CK TTPs

Report warns of the development of increasingly sophisticated, multi-purpose malwares, and calls on defenders to play close attention to the MITRE ATT&CK framework to ward them off Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft fixes three zero-days in February update

February’s Patch Tuesday update contains fixes for three previously unpublicised zero-days in Microsoft Office, Windows Graphics Component and Windows Common Log File System Driver Continue Reading

By

• Alex Scroxton, Security Editor

UK saw fintech investment collapse in 2022, but is still a world leader

Fintech investment in the UK sees steep drop, but the country was still a top destination for capital Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Vidar, nJRAT re-emerge as prominent malware threats in January

Trojans and infostealers once again dominate the list of most commonly observed threats, according to Check Point’s latest telemetry Continue Reading

By

• Alex Scroxton, Security Editor

UK authorities clamp down on illegal crypto ATMs

The Financial Conduct Authority and West Yorkshire Police have disrupted a number of illegal crypto ATMs Continue Reading

By

• Alex Scroxton, Security Editor

‘Buy now, pay later’ crackdown in the making

The finance regulator has proposed bringing ‘buy now, pay later’ providers within its regulatory remit Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Payment tech provider opens Finnish tech hub

Nordic payment tech supplier opens a hub in the Finnish city of Espoo to access expertise Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UAE central bank programme to accelerate digital transformation

The United Arab Emirates government launches programme to accelerate the digital transformation of the country’s finance sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Researcher exposes crypto scam network exploiting YouTube

A massive network of fake YouTube videos promoted by automated sock puppet accounts is reeling in hundreds of cryptocurrency enthusiasts and persuading them to hand over their money, WithSecure researchers found Continue Reading

By

• Alex Scroxton, Security Editor

How to protect your business from fraud during a recession

This winter, the chilly winds of a global recession have fraudsters turning up the heat. PJ Rohall of SEON Fraud Fighters shares some guidance on how to bundle up against fraud Continue Reading

By

• PJ Rohall

KPMG launches metaverse and digital twin hub in Saudi Arabia

The Saudi Arabian government’s commitment to investing in metaverse technology has attracted a KPMG centre of excellence to its shores Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security buyers lack insight into threats, attackers, report finds

The majority of cyber security purchasing decisions are made without proper insight into the attackers organisations are facing, according to a Mandiant report Continue Reading

By

• Alex Scroxton, Security Editor

Whistleblower in limbo as sensitive NatWest customer files remain under her bed

Whistleblower and NatWest at stalemate as regulators leave it up to them to come to an agreement on return of sensitive customer data Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

BNPL accounted for 12% of UK online spending in January

Buy now, pay later products from fintech providers accounted for 12% of the £8bn spent online in the UK in January, according to analysis Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Deutsche Bӧrse signs decade-long deal with Google Cloud

German financial exchange firm Deutsche Bӧrse is expanding its long-standing partnership with Google Cloud as part of a push to ‘economise and concentrate’ its cloud strategy Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Cost-of-living crisis creates appetite to switch banks

As millions of Brits struggle with their finances, many view tailored financial services as beneficial Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Banking regulatory body wants a ‘tripwire’ to flag APP fraud

Banking code of practice organisation wants banks to monitor where authorised push payment scammers are sending stolen money Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: Poor training is worse than no training at all

Bad security training is a betrayal of users, a security risk, and ultimately a waste of money, but there are some reasons to be optimistic about the future, say Mike Gillespie and Ellie Hurst of Advent IM Continue Reading

By

• Ellie Hurst, Advent IM
• Mike Gillespie

APP fraud reimbursement proposal is ‘fundamentally flawed’, say MPs

MPs claim the involvement of a bank-sponsored organisation in reimbursing victims of APP fraud would be a conflict of interest Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

‘Profound’ digital pound decision faces policymakers

The UK Treasury has launched a consultation paper to help lay the foundations for a ‘profound decision’ over a digital currency Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB pilots pods as branch replacements

TSB joins Barclays in adopting banking pods to ensure customers have access to physical banking services as the number of high street branches declines Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Online banks still riddled with cyber security flaws, report says

Online bank Virgin Money was found to have the weakest online and application security measures in a Which? study but Nationwide, TSB and The Co-Operative Bank all failed on multiple points, too. Continue Reading

By

• Alex Scroxton, Security Editor

Estonian anti-money laundering platform used to fight APP fraud

A real-time data-sharing platform originally built to identify money laundering is also being applied to the fight against authorised push payment fraud Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

The Security Interviews: How to overcome data protection compliance challenges

Complying with the vast swathe of data protection legislation around the world is complex, especially for smaller organisations without the necessary expertise. Could the compliance process be simplified, and if so, how? Continue Reading

By

• Peter Ray Allison

Finance regulator finding more misleading promotions quicker through improved digital tools

UK finance regulator able to find and block misleading promotions faster through improved digital tools Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

LockBit gang confirms Ion cyber attack as disruption continues

The LockBit ransomware cartel has taken responsibility for this week’s attack on financial software firm Ion, and is threatening to leak stolen data on Saturday 4 February Continue Reading

By

• Alex Scroxton, Security Editor
• Valéry Rieß-Marchive, Rédacteur en chef

FCA cracks down on misleading promos by social media influencers

Social media is becoming a major part of the FCA’s work in clamping down on misleading financial advertising and promotions, with multiple influencers rapped for their behaviour Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: In 2023, we need a new way to cultivate better habits

Regular, small adjustments to behaviour offer a better way to keep employees on track and cultivate a corporate culture of cyber awareness, writes Elastic’s Mandy Andress Continue Reading

By

• Mandy Andress, Elastic

Security Think Tank: Getting the training and development mix right

Rob Dartnall, CEO at SecAlliance and chair of Crest’s UK Council, describes the need for formal, varied and continuous development in the cyber security sector Continue Reading

By

• Rob Dartnall, SecAlliance

Suspected LockBit ransomware attack causes havoc in City of London

A suspected LockBit ransomware attack on trading software firm Ion has caused chaos for City of London traders Continue Reading

By

• Alex Scroxton, Security Editor

UK government announces plans to protect consumers through cryptoasset regulation

UK government wants feedback on its plans to regulate organisations operating in the cryptoasset sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Cloud security top risk to enterprises in 2023, says study

A PwC study finds senior executives expect cyber attacks on cloud services to increase significantly this year Continue Reading

By

• Alex Scroxton, Security Editor

PayPal slashes 2,000 jobs in face of tough economic outlook

Fintech giant making thousands of redundancies as global economic outlook remains poor Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Malware variant can block contactless payments

Kaspersky warns that the latest variant of the Prilex malware can block contactless payments to force people to insert cards, enabling criminals to steal money Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK Cyber Council and ISACA launch audit, assurance programme

The UK Cyber Security Council has teamed up with ISACA to partner on a new audit and assurance programme for security pros Continue Reading

By

• Alex Scroxton, Security Editor

Crédit Agricole tests quantum in finance

The corporate and investment bank has run experiments with Pasqal and Multiverse to demo quantum computing in finance Continue Reading

By

• Cliff Saran, Managing Editor

Zurich Insurance Group plots multiyear move to AWS public cloud

Multiline insurance firm Zurich is plotting a move to the AWS public cloud to help revamp its customer offerings Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Digital banking changing the high street forever as banks close branches and open alternatives

Banks are reshaping their channels as customers move to digital services, with physical innovation complementing digital strategies Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Mark Logan on his vision for a Scottish technology ecosystem

The Scottish Government’s entrepreneur advisor speaks to Computer Weekly about the philosophy behind an ambitious technology ecosystem strategy Continue Reading

By

• Brian McKenna, Senior Analyst, Business Applications

Hive ransomware gang taken down after FBI hacks back

The FBI hacked into Hive’s servers, stole its decryption keys and then took down its servers in a major action that has successfully disrupted a prolific and dangerous ransomware operation Continue Reading

By

• Alex Scroxton, Security Editor

Final months of 2022 saw highest ever number of bank account switches

More people than ever before switched their current account provider using the government’s switching service Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK Treasury recruiting digital currency leader

The UK government’s investigation into the merits of a central bank digital currency gathers pace at it looks for a team leader Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Boards struggle to resolve cyber risk in digital supply chains

Accelerated digitisation of supply chains is introducing more cyber risk for which many organisations seem unprepared, according to the BSI’s annual report on supply chain risk Continue Reading

By

• Alex Scroxton, Security Editor

UK insurers need to up their game on cyber gaps, says PRA

Gaps and limitations in how insurers respond to cyber risk need to be addressed, according to the Bank of England regulator, the Prudential Regulation Authority Continue Reading

By

• Alex Scroxton, Security Editor

Nationwide Building Society CIO to join Co-operative Bank

Gary Delooze to join Co-operative Bank as CIO after six years heading up Nationwide Building Society’s IT department Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

SSRF attacks hit 100,000 businesses globally since November

There has been a dramatic increase in attacks exploiting the ProxyNotShell/OWASSRF exploit chains to target Microsoft Exchange servers Continue Reading

By

• Alex Scroxton, Security Editor

Fake online contest makes Yahoo! most phished brand of Q4 2022

Yahoo! was the most frequently phished brand during the last three months of 2022, according to a report Continue Reading

By

• Alex Scroxton, Security Editor

SMEs keen on embedded finance, but more choice needed to increase take-up

Suppliers to small and medium-sized enterprises need to offer more choice when embedding financial products in their services if take-up is to increase Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

The rise of fraud in pop culture is impacting consumers’ digital trust

Shows such as The Tinder Swindler and Inventing Anna were big money-earners for Netflix in 2022, but Onfido’s Mike Tuchen says their popularity risks damaging consumer trust Continue Reading

By

• Mike Tuchen

More than 1,000 tech roles chopped at Capital One

US bank makes tech job cuts as its digital transformation moves into a new phase Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Fraudsters and cyber criminals stole more than £4bn in the UK through 2022

The amount of money stolen by fraudsters and cybercriminals in the UK saw a huge increase in 2022 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK fintech payments unicorn cuts back as Covid-19 boost wears off

Payments infrastructure firm Paddle downsizes as Covid-19-generated business boost runs out of steam Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Crest throws support behind CyberUp CMA reform campaign

Cyber accreditation association Crest International has lent its support to the CyberUp campaign for reform to the Computer Misuse Act of 1990 Continue Reading

By

• Alex Scroxton, Security Editor

Fintech makes job cuts to workforce amid falling demand

Peer-to-peer lender cuts 14% of its workforce amid a rise in interest rates limiting the popularity of lending services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Cash use rises for first time in 13 years as cost of living increases

The number of cash withdrawals increased last year, for the first time in 13 years, but remains below the pre-Covid-19 figure Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How Indian banks can drive automation in corporate banking

Banks should prioritise their processes for automation based on the level of human intervention, understand their processes thoroughly and put employees at the centre of their automation efforts Continue Reading

By

• Aaron Tan, TechTarget

SMEs eye moving business to challenger bank

Known for their consumer banking success, challenger banks are now winning over hearts and minds in the small business sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Microsoft fixes EoP zero-day on January Patch Tuesday

On the first Patch Tuesday of 2023, Microsoft fixed an elevation of privilege vulnerability in Windows Advanced Local Procedure Call, which has been actively exploited in the wild and may be co-opted into ransomware campaigns Continue Reading

By

• Alex Scroxton, Security Editor

Davos 2023: Pervasive cyber crime and cyber security gaps pose severe risk to organisations

Governments and organisations face tough trade-offs as they balance immediate problems caused by economic recession, energy shortages and rising interest rates with longer-term risks, including the impact of global warming Continue Reading

By

• Bill Goodwin, Computer Weekly

Latest Innovate Finance report reveals decrease in UK fintech investment, but like-for-like increase

Innovate Finance’s latest figures on fintech investment show reduction in UK, but report methodology leaves this open to change Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Insurer Beazley introduces catastrophe bond to ease cyber risk

Insurance company Beazley says that its $45m cyber catastrophe bond will help to protect its balance sheet and enable it to offer more cyber insurance cover Continue Reading

By

• Alex Scroxton, Security Editor

JPMorgan ordered to face lawsuit over cyber attack on Ray-Ban maker

US banking giant JPMorgan forced to respond to accusations that it failed to inform a business customer about suspicious transactions Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA