IT for financial services

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

Proposed digital fraud refund rules risk excluding many victims

Proposals to establish a fraud refund mechanism in the UK risk excluding many victims of digitally enabled fraud, a major bank has warned Continue Reading

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• Alex Scroxton, Security Editor

Cashless Denmark has no bank robberies in a year for first time

Denmark saw no bank robberies in a single year for the first time ever, but online fraud continues to increase Continue Reading

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• Karl Flinders, Chief reporter and senior editor EMEA

How technology is fuelling CommBank’s customer experience

The Commonwealth Bank of Australia has built up capabilities in cloud and microservices while empowering engineering teams to solve complex customer problems Continue Reading

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• Aaron Tan, TechTarget

Traditional banking under threat from platform-based alternatives

Banking as a service embedded in non-banking business offerings will take large chunks from traditional banks Continue Reading

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• Karl Flinders, Chief reporter and senior editor EMEA

Diversity and inclusion figures high in New Year Honours List 2023

The New Year Honours List 2023 hailed those in the technology community who promote diversity and inclusion Continue Reading

By

• Brian McKenna, Senior Analyst, Business Applications

The importance of improving data quality at source

Data replication crises have struck government and scientific data quality efforts. A lack of scrutiny over data being used at source has led to oversights from national statistics to financial auditing Continue Reading

By

• SA Mathieson

Cyber security professionals share their biggest lessons of 2022

In the run-up to 2023, cyber security professionals are taking the time to reflect on the past few months and share their biggest lessons of 2022 Continue Reading

By

• Nicholas Fearn

Top 10 Nordic IT stories of 2022

Here are Computer Weekly's top 10 Nordic IT articles of 2022 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How does red teaming test the ultimate limits of cyber security?

An expert ethical hacker reveals how he goes about carrying out a red team exercise Continue Reading

By

• Rob Shapland

Why the current fraud model is broken, and how to fix it

Scammers and fraudsters are catching up with the good guys; a new technological approach is needed to fight skyrocketing volumes of digital fraud, says Darwinium founder Alisdair Faulkner Continue Reading

By

• Alisdair Faulkner

Top 10 financial services IT stories of 2022

Here are Computer Weekly’s top 10 financial services IT articles of 2022, looking back at the moves and changes over the past year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Top 10 cyber security stories of 2022

The war in Ukraine loomed large over the cyber security news agenda, but 2022 also saw growing awareness of open source security, discussion around cyber insurance, and more besides Continue Reading

By

• Alex Scroxton, Security Editor

Top 10 cyber crime stories of 2022

Cyber crime continued to hit the headlines in 2022, with impactful cyber attacks abounding, digitally enabled fraud ever more widespread and plenty of ransomware incidents Continue Reading

By

• Alex Scroxton, Security Editor

Four-day working week set to stay at Atom bank

Challenger bank Atom has formalised a four-day working week policy after a successful trial Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB hit with huge fine after IT migration disaster

TSB has been fined nearly £50m due to failings during its IT migration catastrophe Continue Reading

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• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: 2022 brought plenty of learning opportunities in cyber

At the end of another busy 12 months, Turnkey Consulting’s Andrew Morris sums up some of the most important takeaways for cyber pros Continue Reading

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• Andrew Morris, Turnkey Consulting

Ethical hackers flex their muscles in 2022

Ethical hackers working through HackerOne programmes found 21% more vulnerabilities in 2022 than in 2021 Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft and London Stock Exchange agree £2.3bn 10-year cloud deal

The London Stock Exchange is building on its acquisition of financial data provider Refinitiv through a deal with Microsoft Continue Reading

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• Karl Flinders, Chief reporter and senior editor EMEA

Microsoft fixes two zero-days in final Patch Tuesday of 2022

December’s Patch Tuesday is typically a light month for Microsoft, and this year proved no exception, but there are still several critical issues worth addressing, and two zero-days for defenders to pore over Continue Reading

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• Alex Scroxton, Security Editor

EU issues draft data adequacy decision in favour of US

The European Commission has concluded that the United States does ensure an adequate level of protection for personal data transferred from the European Union and will now launch the process towards the adoption of an adequacy decision Continue Reading

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• Alex Scroxton, Security Editor

The nature of the CISO role will be in flux in 2023

As cyber risk outpaces organisational defences, and cyber attacks and breaches cause more and more damage, the nature of the CISO role is entering a state of flux, according to a report Continue Reading

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• Alex Scroxton, Security Editor

Data focus pays off for NatWest

Data is at the heart of bank’s push to improve customer experience – and enhance its green credentials, as transformation and strategy head David Charnley explains. Continue Reading

Security Think Tank: Embrace prioritisation, people, imperfections

Security and IT professionals should try to make peace with their imperfections in 2023, says Nominet CISO Paul Lewis Continue Reading

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• Paul Lewis, Nominet

Iranian APT seen exploiting GitHub repository as C2 mechanism

A subgroup of the Iran-linked Cobalt Mirage APT group has been caught taking advantage of the GitHub open source project as a means to operate its latest custom malware Continue Reading

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• Alex Scroxton, Security Editor

Digital bank to recruit 1,000 tech experts in Manchester

App-based bank Starling is adding 1,000 people to its workforce with technology professionals being recruited for its new operation in Manchester Continue Reading

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• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: 2022 changed how we thought about resilience

Increasing cyber resilience is at the heart of the people-processes-technology triangle, and 2022 saw shifts in all three of these aspects, says PA Consulting’s Sharon Shochat Continue Reading

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• Sharon Shochat

Consumers to get new protections against dodgy apps

Government’s new code of practice will impose new privacy and security measures on app store operators and developers Continue Reading

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• Alex Scroxton, Security Editor

Apple to tap third party for physical security keys

Apple is launching a number of new security protections, including the addition of third-party-provided hardware security keys Continue Reading

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• Alex Scroxton, Security Editor

Deutsche Bank powers new banking apps with Nvidia AI acceleration

The bank is looking at how AI acceleration can process financial texts, accelerate risk analysis and support its plans for the metaverse Continue Reading

By

• Cliff Saran, Managing Editor

Security Think Tank: As cyber pros, we need to articulate our needs better

There is always a lot to learn about security, but one of the most important lessons may not relate to technology at all, says Petra Wenham Continue Reading

By

• Petra Wenham

Don’t become an unwitting tool in Russia’s cyber war

Researchers have turned up evidence that enterprise networks are being co-opted by Russian threat actors to launch attacks against targets in Ukraine. How can you avoid becoming an unwitting tool in a state-backed attack? Continue Reading

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• Alex Scroxton, Security Editor

Fake investment ads persist on Meta’s social networks

Online adverts for investment scams relating to property and crypto assets are still getting past measures designed to stop them Continue Reading

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• Alex Scroxton, Security Editor

Post Office boosted its ‘coffers’ as Horizon system threw up unexplained shortfalls, inquiry told

The Post Office was ‘keen’ to make subpostmasters cover unexplained accounting shortfall as its business struggled, public inquiry hears Continue Reading

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• Karl Flinders, Chief reporter and senior editor EMEA

Ransomware: Is there hope beyond the overhyped?

Up-and-coming cyber concepts attack surface management and security mesh architectures seem to hold some promise in tackling ransomware, but they are a little way off maturity Continue Reading

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• Paul Lewis, Nominet

Latest LockBit ransomware versions have wormable capabilities

Sophos researchers have reverse-engineered the Lockbit 3.0 ransomware, shedding new light on its evolving capabilities and firming up links with BlackMatter Continue Reading

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• Alex Scroxton, Security Editor

Think technology, process, human risk to manage ransomware

Effective ransomware handling boils down to three core areas – technology, process and human risk Continue Reading

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• Andrew Morris, Turnkey Consulting

How gamifying cyber training can improve your defences

Security training is the cornerstone of any cyber defence strategy. With ever-escalating online threats, it is now more important than ever that this training is an engaging experience Continue Reading

By

• Peter Ray Allison

CIO interview: David Charnley, head of transformation and strategy, NatWest Group

Data is at the heart of the banking giant’s push to improve customer experience – and to enhance its environmental credentials Continue Reading

By

• Mark Samuels

Data management, backup becoming the CISO's responsibility

More and more CISOs are taking on responsibility for wider data management strategies, and this trend looks set to grow next year Continue Reading

By

• Alex Scroxton, Security Editor

Indefinite storage: What it is and why you might need it

Indefinite storage addresses the issue that archived data may need to be kept well beyond the lifespan of the technology it was written for Continue Reading

By

• Stephen Pritchard

CW Nordics: Icelandic datacentres point way to greener IT

Iceland may soon become even more attractive to firms wanting to minimise their carbon footprint while using high-performance computing services. Read more about it in this issue. Also find out how a robo investment company, Nord Investments, is harnessing open banking to make thing easier for its clients. Continue Reading

Your staff are the frontline in your ransomware fight

As part of a solid cyber defence plan, the CISO must make sure that the frontline within the organisation is prepared for an attack, says Theodore Wiggins of Airbus Protect Continue Reading

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• Theodore Wiggins, Airbus Protect

UK police arrest 120 in largest-ever cyber fraud crackdown

The administrator and more than 100 users of the iSpoof.cc cyber fraud website have been arrested in a major counter-fraud operation led by the Metropolitan Police Continue Reading

By

• Alex Scroxton, Security Editor

South Korea data adequacy pact brings £15m Brexit bonus

UK government finalises a data adequacy agreement with South Korea, saying it will unlock a post-Brexit business bonus of just under £15m Continue Reading

By

• Alex Scroxton, Security Editor

Ducktail spins new tales to hijack Facebook Business accounts

The increasingly active Ducktail cyber crime operation is refining its operations, seeking new methods to compromise its victims’ Facebook Business accounts Continue Reading

By

• Alex Scroxton, Security Editor

Killnet DDoS hacktivists target Royal Family and others

Russia-aligned hacktivists targeted multiple UK websites, including those of the Royal Family, in a new campaign of DDoS attacks Continue Reading

By

• Alex Scroxton, Security Editor

C-suite mystified by cyber security jargon

Malware, supply chain attack, zero-day, IoC, TTP and Mitre ATT&CK are just some of the everyday terms that security pros use that risk making the world of cyber incomprehensible to outsiders Continue Reading

By

• Alex Scroxton, Security Editor

Is Elon Musk’s Twitter safe, and should you stop using it?

With a litany of security and compliance issues exposed and in many cases caused by Elon Musk’s takeover of social media platform Twitter, some may be asking if it’s still safe or appropriate to use Continue Reading

By

• Alex Scroxton, Security Editor

Brexit deregulation will make UK next Silicon Valley, vows Hunt

Chancellor vows to revolutionise how the IT industry is regulated to spur competition, investment and innovation in a technological ‘Big Bang’ Continue Reading

By

• Alex Scroxton, Security Editor

Another Log4Shell warning after Iranian attack on US government

The breach of a US federal body by an Iranian threat actor exploiting the Adobe Log4j Log4Shell vulnerability has prompted a fresh flurry of patching Continue Reading

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• Alex Scroxton, Security Editor

Siu in court

Cristiano Ronaldo has chased his pearl-clutching condemnation of Manchester United’s unbridled marketing drive with the announcement of his own NFT collection. The preening Ozymandias of football ... Continue Reading

By

• Ryan Priest

Global network fragmentation a source of increasing risk

Risk consultancy’s report says the weaponisation of cyber space and geopolitical clashes herald a breakdown of global networks into distinct regional or national architectures Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Ransomware defences: An extended to-do list

Strategies to extend ransomware protection beyond backups and intrusion detection must centre dark web monitoring, among other things Continue Reading

By

• Alex Holden

TikTok influencers are better than finance firms for money advice, say quarter of young adults

Young people are turning to TikTok-based influencers for advice on how to manage their finances and where to bank Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

APP fraud volumes expected to double by 2026, says report

Losses to authorised push payment fraud in the UK are expected to climb to over $1.5bn in the next four years. Meanwhile, the NAO accuses the Home Office of lagging on progress to tackle the issue Continue Reading

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• Alex Scroxton, Security Editor

CaixaBank robot answers the most customer questions

AI-based virtual assistant at Spanish bank is now used by over four million customers Continue Reading

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• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: Let’s be transparent about ransomware

Greater transparency regarding ransomware attacks, including details about attack methods used and what kinds of assets were compromised, would likely help the community prevent future attacks Continue Reading

By

• John Tolbert, KuppingerCole

Cyber insurance: The good, the bad and the ugly

Most cyber insurance contracts are innately flawed because they exclude losses arising from state-backed cyber attacks, and this will make proper attribution even more important in the future, says Cisco Talos’ Martin Lee Continue Reading

By

• Martin Lee

Volume of self-reported breaches to ICO jumps 30%

The number of self-reported breaches to the UK’s Information Commissioner’s Office soared by nearly 30% in the 12 months to 30 June 2022 Continue Reading

By

• Alex Scroxton, Security Editor

An encouraging new conversation around sustainable IT, says Nordic CIO

What started as a whisper a decade ago has become distinctly audible chatter among IT leaders sharing best practices on how to protect the environment Continue Reading

By

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

Security Think Tank: To stop ransomware, preparation is the best medicine

You can’t ‘stop’ ransomware, but you can do a lot to keep yourself from becoming ensnared when it strikes Continue Reading

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• Paul Watts, Information Security Forum

The world's oldest cryptocurrency exchange prefers doing business in Luxembourg

One of the newest niches in fintech, cryptocurrency exchanges may fare very well in Luxembourg Continue Reading

By

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

Microsoft serves smorgasbord of six zero-days

November’s Patch Tuesday fixes significantly fewer vulnerabilities of late, but includes six actively-exploited zero-days, three of them of critical severity Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Anti-ransomware strategies should be as easy as ABC

When developing and implementing ransomware protection strategies, the importance of paying thorough attention to security measures you might consider elementary cannot be understated Continue Reading

By

• Petra Wenham

To fight ransomware, we must treat digital infrastructure as critical

Ransomware defence is failing because we don’t view our digital infrastructure in the same way as our physical infrastructure, argues Elastic’s Mandy Andress Continue Reading

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• Mandy Andress, Elastic

Microsoft: Nation-state cyber attacks became increasingly destructive in 2022

The willingness of nation-state actors to conduct destructive cyber attacks is a source of grave concern, as Microsoft’s latest annual Digital Defence Report lays bare Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Ransomware and CISOs’ balancing act

Ransomware has the potential to cause irreversible business damage, so CISOs should consider not only protection but also response and recovery Continue Reading

By

• Arina Palchik and Charles Moorey

Microsoft pledges $100m in new IT support for Ukraine

Microsoft will continue to offer free-of-charge technology support to Ukraine for the foreseeable future Continue Reading

By

• Alex Scroxton, Security Editor

Can crypto recover from the crash of 2022?

What does the crypto wipeout of 2022 mean for an increasingly turbulent economy and can crypto bounce back in the months and years ahead? Crucially, how will regulators react? Continue Reading

By

• Alex Cravero, Herbert Smith Freehills

Security Think Tank: Know your networks, know your suppliers

To combat the ransomware scourge, we must work harder to monitor and learn from the increasingly complex threat environment, keep a closer eye on supply chains, and share our insights Continue Reading

By

• Rob Dartnall, SecAlliance

Basel II

Basel II is an international business standard that requires financial institutions to maintain enough cash reserves to cover risks incurred by their operations. Continue Reading

By

• Ben Lutkevich, Site Editor

A third of UK cyber leaders want to quit, report says

Nearly a third of UK security leaders are considering leaving their current role, and more than half are struggling to keep on top of their workload Continue Reading

By

• Alex Scroxton, Security Editor

AI experts question tech industry’s ethical commitments

The massive proliferation of ethical frameworks for artificial intelligence has done little to change how the technology is developed and deployed, with experts questioning the tech industry’s commitment to making it a positive social force Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

Prepare today for potentially high-impact OpenSSL bug

OpenSSL trailed a critical vulnerability patch last week, which will be only the second such flaw ever found in the open source encryption project. Unfortunately, the first was Heartbleed Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Container security: why so different?

Done well, container security can be a model for securing the enterprise, and businesses that focus their teams on solving it can help accelerate positive change in other areas Continue Reading

By

• Bernard Brantley

How has container security changed since 2020, and have we taken it too far?

While containers are now one of the most popular ways to deploy applications, it is fair to say that the adoption and implementation of security best practice to govern their use has not kept up Continue Reading

By

• Rob Tyler, Turnkey Consulting

LinkedIn adds new features to safeguard user privacy, security

Social media platform is adding a number of features and systems designed to protect legitimate users from inauthentic profiles and activity Continue Reading

By

• Alex Scroxton, Security Editor

Santander calls for cooperation to tackle APP fraud

New report puts forward key recommendations that the banking sector, government and other industries could take to tackle authorised push payment fraud Continue Reading

By

• Alex Scroxton, Security Editor

How financial institutions can streamline compliance with AI

AI systems help make compliance processes more efficient and effective for financial institutions. Automation can reduce problems like human error and regulatory breaches. Continue Reading

By

• Yuktesh Kashyap

Apple patches new iPhone zero-day

Apple’s latest patch fixes yet another zero-day, as security issues keep surfacing in its mobile products Continue Reading

By

• Alex Scroxton, Security Editor

UK finance regulator investigates big tech finance threats and benefits

The UK financial services regulator is gathering information about the benefits and targets of big tech firms offering financial services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Digital-first businesses more willing to accept some fraud

Companies founded in the past 20 years appear more willing to accept higher levels of fraudulent activity during the customer onboarding process, according to a report Continue Reading

By

• Alex Scroxton, Security Editor

Half of staff might quit after a cyber attack, report says

Findings from a survey of CISOs, IT leaders and staffers reveal how experiencing a cyber incident may take a larger-than-thought toll on employee retention Continue Reading

By

• Alex Scroxton, Security Editor

HSBC chooses Oracle Exadata Cloud@Customer service to underpin digital

Bank selects Oracle’s Cloud@Customer service to upgrade and migrate some of its database systems as part of its digital transformation Continue Reading

By

• Brian McKenna, Senior Analyst, Business Applications

Ukrainian and UK IT sectors to deepen collaboration, partnerships

BCS, the Chartered Institute for IT, and the IT Ukraine Association have signed an MoU to deepen collaboration between the UK and Ukrainian IT sectors, and champion new partnerships and growth opportunities Continue Reading

By

• Alex Scroxton, Security Editor

Cyber professional shortfall hits 3.4 million

Shortage of cyber security professionals continues to grow and shows no signs of abating, says report Continue Reading

By

• Alex Scroxton, Security Editor

NatWest data breach whistleblower demands bank pay data controller fee to ICO

Whistleblower calls for NatWest to pay the Information Commissioner’s Office annual data controller fee, as the personal details of 1,600 current and former NatWest customers remain under her bed Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lloyds Bank launches innovation sandbox

Banking group establishes a sandbox where fintechs can build and test applications for Lloyds Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Treat cyber crime as a ‘strategic threat’, UK businesses told

The government’s new National Cyber Advisory Board aims to help elevate cyber discussion and spur action in the business community Continue Reading

By

• Alex Scroxton, Security Editor

Office 365 email encryption flaw could pose risk to user privacy

A vulnerability in Microsoft Office 365 Message Encryption could leave the contents of emails dangerously exposed, but with no fix coming it’s up to users to decide how at risk they are Continue Reading

By

• Alex Scroxton, Security Editor

Finance regulator cracks down on use of messaging apps

The Financial Conduct Authority is taking a closer look at how staff at banks are using WhatsApp in work Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

NCSC urges organisations to secure supply chains

NCSC’s latest guidance package centres supply chain security, helping medium to large organisations assess and mitigate cyber risks from suppliers Continue Reading

By

• Alex Scroxton, Security Editor

Santander and Google offer tech to help businesses smooth move to cloud

Dual Run service from Google will be built on top of Santander technology known as Gravity Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

SMEs in Europe ready to invest in real-time payment capabilities

Small and medium-sized enterprises are losing business because of the time it takes to receive payments, with many considering API-based services to address the problem Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

JPMorgan’s UK digital bank app outage locks customers out

App-based Chase Bank suffered tech outage that left customers unable to access its services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Developer wellbeing: A Computer Weekly Downtime Upload podcast

A Computer Weekly Downtime Upload special with Capital One bank’s CTO, Brad Miller Continue Reading

By

• Cliff Saran, Managing Editor

Next phase of open banking already gathering pace

Open banking has had a major impact on the banking industry as finance forms harness data to provide better services, but the next phase of open finance promises even more Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Interview: Rachel Hilliam, chair, Alliance for Data Science Professionals

Rachel Hilliam talks about the origins, mission and future plans for the Alliance for Data Science Professionals Continue Reading

By

• Brian McKenna, Senior Analyst, Business Applications

Cost-of-living crisis could spur fintech adoption

The cost-of-living crisis could have a similar impact on fintech and digital banking as the Covid-19 pandemic did, inducing further innovation in the fintech sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA