IT for financial services

Bank warns of spike in online cost-of-living scams

Fraudsters are exploiting the cost-of-living crisis by tricking people into sending money to help friends and relatives pay bills, TSB has warned Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

FCSA calls for government clampdown on cloned umbrella companies

One year has passed since the Freelancer and Contractor Services Association spoke out about the problem of umbrella company cloning, and it claims the authorities are not moving fast enough to tackle the issue Continue Reading

By

• Caroline Donnelly, Datacentre Editor

Copenhagen Fintech connects its members to the world

Copenhagen-based startup initiative is driving fintech developments across the Nordic region, with Mastercard its latest global partner Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

IR35 reforms to be scrapped in public and private sectors from April 2023, government confirms

The government has confirmed that the 2017 and 2021 roll-out of the IR35 reforms to the public and private sectors, respectively, will be repealed in April 2023 Continue Reading

By

• Caroline Donnelly, Datacentre Editor

Mini-Budget 2022: HMRC tells firms to update payroll software ahead of November NI tax cut

HMRC is urging employers to ensure their payroll software systems are updated now, before the reversal of the previous government’s National Insurance tax hike kicks in Continue Reading

By

• Caroline Donnelly, Datacentre Editor

American Express recruiting thousands of tech professionals

Amex will add 5,000 IT professionals to its workforce in 2022 as digital products and services become the staple of the finance sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

European Central Bank working on prototypes of digital Euro interfaces

European Central Bank’s digital Euro investigation phase is at the point of developing and testing systems that might interface with consumers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Thousands of customers affected in Revolut data breach

Digital challenger bank has warned its customers to be vigilant after their data was exposed in a cyber attack Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How Lloyd’s of London is digitising

The centuries-old insurance market is transforming its complex IT estate through digital data. Continue Reading

A gold medal performance for networking

In this week’s Computer Weekly, we find out how the IT team behind the 2022 Commonwealth Games in Birmingham delivered a winning performance. We also look at how the centuries-old London insurance market is going digital, thanks to Lloyd’s of London. And we find out how low-cost high street stores succumbed to the inevitable and are going online. Read the issue now. Continue Reading

Organisations failing to account for digital trust

The vast majority of businesses are well aware of the importance of digital trust, yet very few have a dedicated staff role responsible for it, report finds Continue Reading

By

• Alex Scroxton, Security Editor

Ex-CISA head Krebs: Disrupt ransomware support networks to win the war

Speaking at an event hosted by data protection specialist Rubrik, former CISA director Chris Krebs calls for the security community to work collectively to kick out the supports from under ransomware gangs Continue Reading

By

• Alex Scroxton, Security Editor

US to see huge increase in embedded finance transactions

Retailers and other non-financial businesses are increasingly offering their customers financial services, such as credit and payment options Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

DDoS attacks on UK financial sector surged during Ukraine war

A quarter of cyber security incidents reported to the Financial Conduct Authority in the first six months of 2022 involved DDoS, with a likely link to events in Ukraine Continue Reading

By

• Alex Scroxton, Security Editor

AI Sweden connects the dots to keep the country competitive

How and why a centre dedicated to accelerating the adoption of artificial intelligence technology has been created in Sweden Continue Reading

By

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

JP Morgan acquires fintech for payments modernisation

JP Morgan acquires cloud-native payments technology as it modernises its IT infrastructure Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Investment in UK fintech sees fall amid global turmoil

Investment in fintech drops, but because figures are distorted by last year’s records, it’s not as bad as it looks, says KPMG Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

The story behind Sibstar, the fintech app for people suffering with dementia

Creator of app and debit card designed to support people with dementia relates how the idea developed. Continue Reading

Source responsibly: Tech sector efforts to root out forced labour are failing

In this week’s Computer Weekly, we analyse the technology industry’s failure to extirpate forced labour and slavery from its supply chains. We find out how cyber security firm Okta is rebuilding customer trust after a major security incident. And we discover how Caterpillar is modernising its data management to offer better customer service. Read the issue now. Continue Reading

Mistakenly transferred $504m to be returned to Citigroup

Judge rules that creditors should return $504m that was accidentally transferred to them by Citigroup Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CISOs should spend on critical apps, cloud, zero-trust, in 2023

Faced with a global recession next year, security buyers should try to direct investment towards technology that protects customer-facing and revenue-generating workloads, say analysts Continue Reading

By

• Alex Scroxton, Security Editor

Lloyd’s of London is digitally transforming through the front door

Centuries-old financial services organisation is transforming its complex IT infrastructure through digital data Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK payments upgrade to add more than £3bn to GDP, but much more on offer

UK GDP will increase when its ageing payments infrastructure is replaced with the latest technology to enable real-time payments Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Huge leap to contactless payments in past three years

Covid-19 pushes the use of contactless payments for face-to-face transactions to 90% of total Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Interview: Sibstar, the fintech app for dementia sufferers

Creator of app and debit card designed to support people living with dementia tells Computer Weekly how the idea developed Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

BBVA to add 2,000 software engineers to workforce this year

Spanish bank BBVA is boosting its IT department while its traditional workforce reduces amid digital transformation Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: Effective DevSecOps requires collaboration

Application security and effective DevSecOps can only be achieved through collaboration with the business – the ultimate goal is to make it safer to do business, which requires considering integrated risk management and identity and access management alongside cyber security and application security Continue Reading

By

• Andrew Morris, Turnkey Consulting

IAM house Okta confirms 0ktapus/Scatter Swine attack

Following last week’s disclosureby Group-IB researchers of a major phishing campaign, Okta has warned its customers to be on their guard Continue Reading

By

• Alex Scroxton, Security Editor

Making her mark in financial technology

Archana Manjunatha’s career in financial technology took her to the trading floors in India, where she learned the ropes of futures and options trading and the back offices of some of the world’s largest banks Continue Reading

By

• Aaron Tan, TechTarget

Adaptive RedAlert, Monster ransomwares go cross-platform

Kaspersky researchers have shared new intelligence on two emergent cyber criminal groups that have adapted their ransomwares to target different operating systems at the same time Continue Reading

By

• Alex Scroxton, Security Editor

CW Nordics: Norway struggles to keep up with demand for tech specialists

The growing importance of IT in all industries, along with a shortage in skills, make for an excellent high-tech job market for candidates in Norway. Read how recruiters are struggling to keep up with demand. Also read how the Danish government encourages research in strategic fields to attract tech companies. Continue Reading

Security pros fret about stress and promotion over cyber attacks

CIISec’s annual report on the state of the security profession reveals some home truths for security leaders Continue Reading

By

• Alex Scroxton, Security Editor

LockBit 3.0 cements dominance of ransomware ecosystem

Ransomware attacks were up 47% in July compared with the previous month, according to the latest threat data from NCC Group, with the LockBit family largely to blame Continue Reading

By

• Alex Scroxton, Security Editor

Most CISOs think they’ve been attacked by a nation state

Most organisations have made changes to their cyber strategies and policies following Russia’s invasion, and almost two-thirds suspect they have been directly targeted or impacted by a nation-state cyber attack Continue Reading

By

• Alex Scroxton, Security Editor

Kaspersky threat data added to Microsoft Sentinel service

Microsoft and Kaspersky have agreed a collaboration to integrate Kaspersky’s threat data feeds into Microsoft’s cloud-native SIEM/SOAR service Continue Reading

By

• Alex Scroxton, Security Editor

Lloyd’s to end insurance coverage for state cyber attacks

Lloyd’s of London has instructed its members to exclude nation state cyber attacks from insurance policies beginning in 2023, saying they pose unacceptable levels of risk Continue Reading

By

• Alex Scroxton, Security Editor

Cozy Bear targets MS 365 environments with new tactics

Cozy Bear, or APT29, is trying out new tricks as it seeks access to its targets’ Microsoft 365 environments Continue Reading

By

• Alex Scroxton, Security Editor

Growing MFA use spurs ‘pass-the-cookie’ attacks

The exploitation of stolen session cookies by cyber criminals is once again back on the agenda, thanks to the growing popularity of multifactor authentication tools Continue Reading

By

• Alex Scroxton, Security Editor

It takes a breach to force boards to take notice of cyber, says UK government

Too often, it takes a major incident for business leadership to pay attention to cyber issues, according to a government-commissioned study of victims Continue Reading

By

• Alex Scroxton, Security Editor

Contactless accounted for one-third of all payments made in the UK in 2021, research shows

Latest data from finance industry body reveals how the payments market is bouncing back after the pandemic Continue Reading

By

• Caroline Donnelly, Datacentre Editor

Why organisations need to harmonise their CIO and CISO roles

Unless properly managed, conflicting responsibilities between the chief information officer and the chief information security officer can cause project delays and budget overruns, says Netskope’s Mike Anderson Continue Reading

By

• Peter Ray Allison

Increase in UK startups scaling to exit, but half still struggle

Despite more startups scaling to the point of exit than ever before, half are still stuck in low growth stages – particularly those working with emerging technologies Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

Microsoft fixes two-year-old MSDT vulnerability in August update

August’s Patch Tuesday drop fixes more than 120 CVEs, including another MSDT RCE zero-day that is being actively exploited. Continue Reading

By

• Alex Scroxton, Security Editor

‘Coopetition’ a growing trend among ransomware gangs

Sophos shares data from its new X-Ops unit at Black Hat in Las Vegas, revealing a growing number of ransomware victims being attacked by multiple gangs at the same time Continue Reading

By

• Alex Scroxton, Security Editor

UK has biggest card fraud problem in Europe

Social Market Foundation calls on the UK to get a grip on its huge problem with bank card fraud in Europe Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Financial services regulator opens digital delivery centre in Leeds

The Financial Conduct Authority is increasing the number of tech experts in its workforce through a new digital delivery centre in Leeds Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Spyware activity particularly impactful in July

After a quiet June, vulnerability exploitation ramped up in July, with intrusions linked to spyware seeing unusually high volumes of activity, according to a report Continue Reading

By

• Alex Scroxton, Security Editor

Financial Ombudsman Service mining for gold in cloud HR and finance

The Financial Ombudsman Service is reaping the benefits of the cloud-based human resources and finance system it implemented last year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

More than 60% of world population will use digital wallets by 2026

Global take-up of digital wallets will accelerate over the next four years, driven by ‘super apps’ and QR code-based payments Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Austrian data firm accused of selling malware, conducting cyber attacks

Microsoft has accused DSIRF, an Austrian data services firm, of involvement in a string of cyber attacks Continue Reading

By

• Alex Scroxton, Security Editor

Cyber criminals pivot away from macros as Microsoft changes bite

As Microsoft resumes blocking macros by default in its Office application suite, reversing a temporary reversal, analysis from Proofpoint suggests the action has had a remarkable effect Continue Reading

By

• Alex Scroxton, Security Editor

Teams in Grenoble work on 6G breakthrough technology

Even as 5G networks are being rolled out, new requirements are driving scientists, and engineers in Europe are back to the lab to start developing 6G Continue Reading

By

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

Consumers left out of pocket as security costs soar

As the average cost of a security incident reaches an all-time high of nearly $4.5m, an IBM Security study reveals how these costs are being passed on to ordinary people Continue Reading

By

• Alex Scroxton, Security Editor

Cyber security training ‘boring’ and largely ignored

Two-thirds of employees don’t bother to pay attention to cyber security training – and the fault does not lie with them Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Don’t rely on insurance alone

Cyber insurance is a useful addition to the cyber protection toolbox. However, it cannot be regarded as a replacement for the controls that should be in operation, says Turnkey Consulting’s Tom Venables Continue Reading

By

• Tom Venables, Turnkey Consulting

No More Ransom initiative helps 1.5 million people in six years

One and a half million people have now taken advantage of free ransomware decryption tools offered by a joint European project Continue Reading

By

• Alex Scroxton, Security Editor

Ducktail infostealer targets Facebook Business users

Newly uncovered Ducktail operation targets individuals with access to Facebook Business service and tries to steal their accounts Continue Reading

By

• Alex Scroxton, Security Editor

Latest Atlassian Confluence vulnerability raises concerns

CVE-2022-26138 is the second major vulnerability disclosure made for Atlassian’s Confluence collaboration platform in recent months Continue Reading

By

• Alex Scroxton, Security Editor

The Security Interviews: Why you need to protect abandoned digital assets

The war in Ukraine and subsequent boycott of Russia resulted in a swathe of digital infrastructure being abandoned, becoming a potential vulnerability for many organisations, says Cyberpion’s Ran Nahmias Continue Reading

By

• Peter Ray Allison

Russia could become the world’s largest market for illegal IT

Russia could become the biggest market for illegal IT equipment as companies try to get round sanctions imposed on the country Continue Reading

By

• Computer Weekly correspondent

Buy ‘plug-n-play’ malware for the price of a pint of beer

Three-quarters of malwares and almost 90% of exploits retail on the dark web for about £8.40 or less, according to a report Continue Reading

By

• Alex Scroxton, Security Editor

(ISC)² expands entry-level cyber programme after UK success

Flush with success from a UK certification programme, reaching 100k in the UK, (ISC)² now wants to provide free security certification to a million people worldwide Continue Reading

By

• Alex Scroxton, Security Editor

Transatlantic PET contest open for entries

A joint UK-US innovation prize challenge for developers of privacy-enhancing technologies has opened for entries Continue Reading

By

• Alex Scroxton, Security Editor

Cato aims to bust cyber myths as it extends network protections

Cato Networks is beefing up its platform’s security features with ransomware and data loss protections, and the firm’s security strategy lead Etay Maor is using the occasion – and his unique access to billions of data points from the firm’s network – to explode some cyber myths Continue Reading

By

• Alex Scroxton, Security Editor

Starling Bank withdraws application for licence in Ireland

App-based bank decides against completing its application for a banking licence in Ireland after concluding it did not offer enough value Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

European IT services see bumper quarter, but signs of slowing emerge

Spending on IT and BPO services in Europe saw significant growth in the past quarter, but there are signs of a slowdown Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK fintech outperforms global sector

Investment in UK fintech continues to increase, outpacing a flat global sector, according to Innovate Finance Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Tracking the rise of homeworking across the UK

In this week’s Computer Weekly, new figures show that homeworking has more than doubled in the UK due to the pandemic – we look at the regional differences. The pressure is growing on cyber security teams – we analyse the expert advice on how to avoid staff burnout and lost talent. And we examine the important role that tech startups play in the rapid growth of Amazon Web Services. Read the issue now. Continue Reading

US cyber agency CISA to open London office

The US Cybersecurity and Infrastructure Security Agency has chosen London to host its first office outside America Continue Reading

By

• Alex Scroxton, Security Editor

Data and tech platforms helping finance regulator spot problems earlier

The UK financial services regulator is increasingly using data platforms to proactively regulate the finance sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Is time running out for legacy payments technology used by banks?

 Continue Reading

Log4Shell on its way to becoming ‘endemic’

US government report concludes that, like Covid, Log4Shell will be with us for a long time to come Continue Reading

By

• Alex Scroxton, Security Editor

Global IT services market shows signs of slowing

Spending on IT and business process services could be set to reduce over the coming months as the latest ISG figures show early signs of decline Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

ICO wants to ‘empower people through information’

Information Commissioner’s Office sets out commitment to safeguard the information rights of the most vulnerable people in UK society Continue Reading

By

• Alex Scroxton, Security Editor

ING pilot project tests payments from phone to phone

Dutch bank is testing an app that enables users to make peer-to-peer payments directly from smartphone to smartphone when they are close together Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Slippery phish wriggles around MFA protections, says Microsoft

Microsoft’s threat researchers share details of a phishing campaign that hit 10,000 organisations, against which standard multifactor authentication provides little defence Continue Reading

By

• Alex Scroxton, Security Editor

July Patch Tuesday brings more than 80 fixes, one zero-day

While some admins can put their feet up and let Windows Autopatch do the hard work of updating their Microsoft estates, for the rest of us, the Patch Tuesday bandwagon keeps on keeping on Continue Reading

By

• Alex Scroxton, Security Editor

Goldman Sachs hires Google incubator founder

Bank recruits co-founder of Google’s incubator as it continues to transform its business through digital technology Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

MaliBot Android malware spreading fast, says Check Point

The MaliBot malware is becoming a persistent and widespread problem, and Android users should be on their guard, says Check Point Continue Reading

By

• Alex Scroxton, Security Editor

Is time running out for legacy payments technology used by banks?

The company bringing Google-like processing to core banking for banks has added the same proposition in payments Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Microsoft Windows Autopatch now generally available

Microsoft customers with Windows Enterprise E3 and E5 licences can now take full advantage of its new automated patching service Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft VBA macro block will return

Microsoft provides more details about its sudden decision to rollback a landmark security policy, and reassures users it is a temporary measure Continue Reading

By

• Alex Scroxton, Security Editor

Cyber insurance: An effective use of your scant security budget?

The ISF’s Paul Watts asks if cyber insurance is a must-have item, an expensive luxury, or the emperor’s new clothes Continue Reading

By

• Paul Watts, Information Security Forum

Stop telling clients to pay ransomware gangs, solicitors told

The NCSC and the ICO are calling on solicitors to help tackle the rising number of ransomware payments being made, and to stop giving erroneous advice to victims Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft appears to reverse VBA macro-blocking

Microsoft quietly reverses VBA macro-blocking across its Office portfolio in a move that has left security experts puzzled Continue Reading

By

• Alex Scroxton, Security Editor

Lots to consider when buying cyber insurance, so do your homework

When considering implementing a cyber insurance policy, due diligence should be your watchword, says Paddy Francis of Airbus CyberSecurity Continue Reading

By

• Paddy Francis

MI5, FBI chiefs warn of Chinese cyber espionage threat

In a joint appearance in London, MI5 director general Ken McCallum and FBI director Chris Wray warn of the growing threat posed by the Chinese government to UK and US interests Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Cyber insurance – A nice safety blanket, but don’t count on it

In the second instalment of this month’s Security Think Tank, Mike Gillespie argues that cyber insurance should be thought of like car insurance – you don’t start driving recklessly because you’re covered Continue Reading

By

• Mike Gillespie

Prepare for long-term cyber threat from Ukraine war, says NCSC

The NCSC has published refreshed guidance on cyber preparedness as the war on Ukraine continues, urging organisations to pay attention to the state of their security teams Continue Reading

By

• Alex Scroxton, Security Editor

NCSC CEO: Why we should run towards crises to elevate cyber security

National Cyber Security Centre CEO Lindy Cameron, the 2022 Computer Weekly UKtech50 Most Influential Person in UK IT, reflects on a career immersed in crisis management, and how she is using this to elevate cyber security standards across the country Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Now is the time to think about cyber insurance

Many IT leaders shy away from cyber insurance, but new, innovative developments in the market can help organisations take an approach that suits their needs Continue Reading

By

• Carl Nightingale

New cyber extortion op appears to have hit AMD

Semiconductor specialist AMD has confirmed it is investigating reports that a ‘bad actor’ has stolen hundreds of gigabytes of its data Continue Reading

By

• Alex Scroxton, Security Editor

Executive interview: Chris Conradi, chief digital officer, FSN Capital

Chris Conradi is taking his learnings at Google into the private equity industry at Norway’s FSN Capital Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Brexit a net negative for UK cyber, say CISOs

Six years on from the UK’s Brexit vote, the majority of security professionals say leaving the EU has raised concerns over their ability to keep their organisations safe Continue Reading

By

• Alex Scroxton, Security Editor

LockBit ransomware gang launches bug bounty programme

A bug bounty programme is among a number of features LockBit’s developers have added to ‘version 3.0’ of the ransomware Continue Reading

By

• Alex Scroxton, Security Editor

Black Basta ransomware crew aiming for ‘big leagues’

Emergent Black Basta ransomware gang has hit more than 50 countries since bursting onto the scene earlier this year, says Cybereason Continue Reading

By

• Alex Scroxton, Security Editor

US cyber agency in fresh warning over Log4Shell risk to VMware

Many VMware Horizon and UAG servers remain defenceless against Log4Shell, and organisations continue to fall victim to the vulnerability Continue Reading

By

• Alex Scroxton, Security Editor

Assessment and knowledge: Your key tools to secure suppliers

There is no silver bullet that will resolve all the issues arising from today’s interconnected businesses and complex supply chains, but there are some key tools at your disposal Continue Reading

By

• Andrew Morris, Turnkey Consulting

What will the Data Reform Bill mean for UK businesses operating in the EU?

Following the government’s response to the Data Reform Bill consultation, Peter Galdies of DQM GRC looks at what might lie ahead for UK organisations working in the European Union Continue Reading

By

• Peter Galdies

FCA seeks more tech expertise in fight against fraud

UK financial services regulator wants technology professionals to join its team fighting online fraud Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA