IT for financial services

Government digital ignorance puts Dutch economy at risk

In this interview, Michiel Steltman, managing director of Digital Infrastructure Netherlands, tells Computer Weekly why the Dutch digital economy is at risk due to a lack of knowledge and understanding at government level Continue Reading

By

• Kim Loohuis

BCS passes defiant Ukrainian tech industry message to its members

BCS, the Chartered Institute for IT, has passed on a message from Ukrainian IT suppliers that the country is open for, and in need of, business Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Emotet tests new tricks to thwart enhanced security

The operators of the Emotet botnet seem to be trying to find a way to get around recent changes made by Microsoft to better protect its users Continue Reading

By

• Alex Scroxton, Security Editor

Danish researcher explains zero-knowledge proofs and post-quantum encryption

A graduate from the University of Aarhus, a Danish researcher is now a leading player in some of the most important issues in cyber security Continue Reading

By

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

Global digital wallet transactions set to soar

Payments using mobile phones are set to soar globally as suppliers expand the services available, according to research Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Finance regulator identifies challenger bank financial crime weaknesses

Financial Conduct Authority review finds challenger banks need to do more to prevent their platforms being used to commit financial crime, such as money laundering Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Tech to account for over half of regulatory compliance spending

By 2026, regtech will account for more than half of the money that businesses spend on compliance with regulations Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

One-third of scams that hit TSB are impersonation fraud

TSB reports an increase in fraudsters impersonating trusted organisations to trick consumers into making payments to them Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nationwide Building Society streamlines payment dispute process through software

Building society has speeded up the resolution of customer disputes over Visa payments by using Pegasystems software Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Financial Ombudsman Service chooses TCS as digital transformation partner

Tata Consultancy Services will build and implement key systems as part the Financial Ombudsman Service’s digital transformation Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

WatchGuard firewall users urged to patch Cyclops Blink vulnerability

The US authorities have seen fit to add the WatchGuard vulnerability used by Sandworm to build the Cyclops Blink botnet to its list of must-patch vulnerabilities Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft patches two zero-days, 10 critical bugs

Patch Tuesday is here once again. This month, security teams must fix two privilege escalation zero-days in the Windows Common Log File System Driver and the Windows User Profile Service Continue Reading

By

• Alex Scroxton, Security Editor

Mastercard opens European tech hub in Dublin

Mastercard is doubling its technology workforce in Dublin through a new European tech hub in the Irish capital Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Banks should be able to integrate e-krona into existing systems, says Swedish regulator

Swedish financial services regulator says banks and service providers should be able to integrate a potential digital currency into existing systems Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

European IT and BPO outsourcing off to strong start

European IT and business process outsourcing services continue to increase rapidly, with cloud-based services now more than half of the total Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Triple-threat Borat malware no joke for victims

Unlike its namesake, the newly discovered Borat malware won’t raise a smile for IT security pros Continue Reading

By

• Alex Scroxton, Security Editor

Zopa bank profitable after just 21 months

The bank that emerged from peer-to-peer lending pioneer has hit its first profit after 21 months of operation Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Saudi Arabian ICT sector hits $32.1bn after strong pandemic response

The Saudi Arabian IT and communications sector is recovering strongly from the Covid-19 pandemic Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Environmental campaigners halt Meta datacentre construction in the Netherlands

Datacentre being built to serve ‘metaverse’ worlds would consume nearly half as much energy as all other datacentres in the country Continue Reading

By

• Mark Ballard

Four moves to ‘checkmate’ critical assets thanks to lax cloud security

Malicious actors can compromise 94% of critical assets within four steps of the initial breach point, according to a report Continue Reading

By

• Alex Scroxton, Security Editor

Bank fraud prevention scheme blocked £60m in fraud last year

Scheme to catch fraudsters, including online scammers, before they commit their crimes has reported a significant increase in crimes prevented Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Why diversity in AI remains a challenge and how to fix it

With artificial intelligence set for a global economic explosion, its development must put diversity at its core to avoid discriminating systems Continue Reading

By

• Shawn Tan

Acquisition of UK fintech Azimo will address home-working challenges for enterprises

UK fintech acquired by Papaya Global is looking to improve cross-border employee payments Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lax money laundering controls lands N26 with ban from Italian central bank

German digital bank N26 has had problems with anti-money laundering regulations in the past, and is now banned in Italy Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

One-third of UK firms suffer a cyber attack every week

New statistics from the annual DCMS Cyber security breaches survey reveal the extent and frequency with which UK organisations are being attacked by malicious actors Continue Reading

By

• Alex Scroxton, Security Editor

Recruitment risks: Avoiding the dangers of fraudulent candidates

Tech companies are seeing an increase in fraudulent job applications, with associated impacts on risk and cyber security. So how can organisations protect themselves from fraudulent applicants while ensuring they recruit the best talent? Continue Reading

By

• Peter Ray Allison

NCSC: Not necessarily wise to ditch Kaspersky

UK’s National Cyber Security Centre issues refreshed guidance on organisations’ usage of technology and services of Russian origin, but stops short of advising users to expunge all Russian products from their IT estates Continue Reading

By

• Alex Scroxton, Security Editor

Wave of Log4j-linked attacks targeting VMware Horizon

Sophos issues a new warning to organisations that have so far failed to patch their VMware Horizon servers against Log4Shell Continue Reading

By

• Alex Scroxton, Security Editor

FCA reports 52% jump in security incidents

The Financial Conduct Authority received 116 cyber incident reports in 2021, a fifth of them involving ransomware Continue Reading

By

• Alex Scroxton, Security Editor

IT professionals wary of government campaign to limit end-to-end encryption

Members of the Chartered Institute of IT, the professional body for technology professionals in the UK, warn against limiting end-to-end encryption Continue Reading

By

• Bill Goodwin, Computer Weekly

Most big businesses are taking up banking as a service

API-based banking services allow corporate customers to offer financial services without the need for heavy tech development or regulatory approval Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

GAAP (generally accepted accounting principles)

GAAP (generally accepted accounting principles) is a collection of commonly followed accounting rules and standards for financial reporting. Continue Reading

By

• Stephen J. Bigelow, Senior Technology Editor

CW Innovation Awards: How WLTH is disrupting traditional banking

The fintech company built its own technology stack that delivers data analytics and other capabilities as it seeks to win market share from traditional banks Continue Reading

By

• Edwin Yapp

Digital continues to deplete bank branch networks as Lloyds cuts 60 more

Lloyds Banking Group has stripped UK high streets of a further 60 branches as the take-up of digital banking continues Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Japan’s Mizuho partners Google to accelerate tech transformation after a year to forget

Following a year when it hit the tech headlines for the wrong reasons, Mizuho is on a mission to modernise IT in collaboration with Google Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Details of Conti ransomware affiliate released

Information about a new Conti affiliate has been released by eSentire and BreakPoint Lab after a joint investigation into the group’s indicators of compromise Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

Competition watchdog contacts Barclays and Lloyds banks over API failures

Barclays and Lloyds banks have failed to meet some of the open banking rules, says competition watchdog Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Revised scope of UK security strategy reflects digitised society

The omission of the word ‘security’ from the title of the UK government’s new National Cyber Strategy is a telling one, reflecting our increasingly digitised society, say Maximillian Brook and Arunoshi Singh of the ISF Continue Reading

By

• Maximillian Brook & Arunoshi Singh

One year on from IR35 reforms – why IT skills are harder to find

In this week’s Computer Weekly, a year after IR35 tax reforms were introduced, we assess the impact on the UK’s IT talent pool – and it’s not looking good. We examine the rise of industry clouds, and how they are changing the market. And we find out how London councils plan to work together on data and innovation. Read the issue now. Continue Reading

UK Cyber Strategy a welcome injection of progress

The National Cyber Strategy should be seen as a welcome injection of both focus and investment in bettering cyber defence for everyone, says Turnkey Consulting senior consultant Louise Barber Continue Reading

By

• Louise Barber, Turnkey Consulting

Ukrainian cyber defences prove resilient

Thanks to a combination of prior experience and global support, Ukraine’s defences against cyber incidents are holding strong in the face of Russian attacks Continue Reading

By

• Alex Scroxton, Security Editor

National Cyber Strategy will enhance UK’s cyber power status

The UK punches above its weight when it comes to wielding cyber power around the world, but challenges to this status are clear. The National Cyber Strategy has a clear role to play in maintaining and enhancing this status, writes Paddy Francis of Airbus Cybersecurity Continue Reading

By

• Paddy Francis

How multiphysics simulation might accelerate the advent of quantum computing – and vice versa

Sophisticated tools that simulate more than one physical phenomenon at a time may help designers home in on optimal architectures for quantum computers at less cost – and much faster Continue Reading

By

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

Value of contactless transactions doubles in two years

Almost £166bn was spent in the UK last year using contactless technology, compared with £80.5bn in 2019 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Estonian anti-money laundering software pilot reaps benefits

Estonian startup and local banks have successfully piloted a data-sharing platform that prevents money laundering Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

German authorities warn on Kaspersky but stop short of ban

Germany authorities warn Kaspersky users to consider alternatives to the firm’s flagship antivirus software, citing national security concerns and the war on Ukraine Continue Reading

By

• Alex Scroxton, Security Editor

No end to UK bank branch closures as HSBC shuts 69 more

HSBC closes another 69 branches as customers continue to migrate to digital channels Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How cyber security teams can conquer the four-day working week

The four-day week may be an idea whose time has come, but for always-on cyber security professionals, the impact of squeezing more work into fewer days is a tricky proposition Continue Reading

By

• Keiron Holyome

How can I avoid an exodus of cyber talent linked to stress and burnout?

Cyber security professionals have played a crucial role during the pandemic, yet many feel like their employers aren’t providing adequate mental health support and have considered quitting their jobs as a result. What can employers do to help them? Continue Reading

By

• Nicholas Fearn

‘Technical issues’ leave Post Office branches with ATM cash discrepancies

Discrepancies of up to £2,000 reported after an ‘IT change’ impacted more than 200 Post Office branches Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

BNP Paribas to recruit 1,000 more women in IT

Spanish bank sets target of adding 1,000 more female IT professionals to its workforce over the next two years Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

National Cyber Strategy misses the mark in one important way

The National Cyber Strategy is full of fine words, says Petra Wenham, but as the old expression goes, fine words butter no parsnips, and it misses the mark in one very important way Continue Reading

By

• Petra Wenham

Open banking’s next big thing could replace direct debits

Variable recurring payments could fuel the next stage of open banking take-up in the UK Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Tech brands sign on to HackerOne responsible security drive

Tech companies sign HackerOne’s new corporate security responsibility pledge to bring cyber out of the shadows and promote effective, secure development practices Continue Reading

By

• Alex Scroxton, Security Editor

CW Europe: Luxembourg sees big role in global fintech market

Read about Luxembourg’s aim to play a larger role in the rapidly growing global financial technology market. Also find out how a Siri-like digital assistant will automate the completion of government service requests in Estonia, and how drones can get life-saving equipment to heart attack victims in Sweden before emergency services can arrive on the scene. Continue Reading

Fintech players get cosy in Luxembourg

 Continue Reading

Government to force tech firms to stop fraudsters using their platforms for scams

Changes to legislation will make social media and search engine firms responsible for preventing fraudsters using their platforms to commit crimes Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

China’s APT41 exploited Log4j within hours

APT41 compromised multiple government organisations via the Log4Shell exploit within hours of its initial disclosure, Mandiant claims Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft serves up three zero-days on March Patch Tuesday

Three zero-days pop up in Microsoft’s March update, along with a number of other noteworthy concerns for defenders Continue Reading

By

• Alex Scroxton, Security Editor

Boardroom does not see ransomware as a priority

Less than a quarter of company directors think ransomware is a top priority for their security teams, according to Egress Continue Reading

By

• Alex Scroxton, Security Editor

Gothenburg University makes breakthrough in energy efficient computers

Swedish and Japanese universities make advancement in the development of computers that can work as energy efficiently as a brain Continue Reading

By

• Gerard O'Dwyer

Middle East IT spending to recover to at least pre-pandemic levels

Middle East IT leaders expect budgets to increase this year, with spending to match or exceed pre-Covid levels Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Software firm saves storage array costs with Nutanix hyper-converged

Banking SaaS provider Vialink needed more IOPS when its NetApp arrays slowed up, but Nutanix hyper-converged proved a better package than Pure Storage and Dell EMC, too Continue Reading

By

• Yann Serra, LeMagIT
• Antony Adshead, Storage Editor

Nationwide suffers payday payments outage

Nationwide customers were left unable to pay bills on payday as the building society suffered a software outage Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

The British people are waking up to the scandal that happened under their noses

Victims of the Post Office Horizon scandal have been suffering in silence for many years, but the current public inquiry is giving them a voice, and people are listening Continue Reading

Ukraine cyber attacks seen spiking, but no destructive cyber war yet

While cyber attacks linked to Russia’s war on Ukraine are taking place, they are having little impact beyond the region Continue Reading

By

• Alex Scroxton, Security Editor

Cracking the code on blockchain and crypto: What might adoption mean for datacentres?

A high share of datacentre customers look set to adopt blockchain technologies, including digital currencies, over the next few years Continue Reading

By

• Fleur Doidge

KnowBe4 cyber drama tackles Colonial Pipeline in fourth season

KnowBe4’s ongoing cyber security training drama, The Inside Man, reaches its fourth season with a plot drawing inspiration from one of the most impactful cyber attacks of 2021 Continue Reading

By

• Alex Scroxton, Security Editor

Russia behind dangerous Cyclops Blink malware

Joint NCSC CISA advisory attributes a dangerous malware, dubbed Cyclops Blink, to Russia’s Sandworm APT, likely a GRU unit, with WatchGuard users at particular risk Continue Reading

By

• Alex Scroxton, Security Editor

Backups ‘no longer effective’ for stopping ransomware attacks

Traditional methods of mitigating ransomware are less efficacious thanks to the rise in double and triple extortion techniques Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft extends Defender umbrella to Google Cloud Platform

Redmond says extending Defender for Cloud native capabilities to the Google Cloud Platform will help simplify security for organisations pursuing multicloud strategies by eliminating the gaps where the bad guys can get in Continue Reading

By

• Alex Scroxton, Security Editor

No imminent cyber threat to UK from Russia

Intelligence officials say they have no evidence or indication that Russian cyber attackers are preparing offensive assaults on infrastructure or organisations in Britain Continue Reading

By

• Alex Scroxton, Security Editor

Attempted burglary exposes risk of NatWest customer data in former worker’s home

Former Royal Bank of Scotland employee offers bank a compromise in her dispute over the return of confidential customer information Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK organisations swift to chide phishing victims

While UK organisations are doing better at security training, many are quick to punish employees who fall victim to phishing attacks, whether real or simulated Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Good training is all about context

In-house or outsourced? What makes a good security training programme, and what questions should buyers ask when procuring training as a service? Continue Reading

By

• Emma Bickerstaffe, Information Security Forum (ISF)

Sweden completes phase two of e-krona pilot

Sweden’s central bank is well into its second year of testing a new digital currency, but so far, no firm decision has been made by the government to adopt it Continue Reading

By

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

UK joins US in pinning Ukraine DDoS attacks on Russia

A series of DDoS attacks on Ukrainian defence and banking organisations last week is now being firmly attributed to Russian action Continue Reading

By

• Alex Scroxton, Security Editor

Open banking surpasses five million UK customers

Upwards of five million people in the UK are using open banking services as the financial sector’s fintech revolution gathers pace Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Amazon and Visa resolve UK credit card ban threat

Companies reach ‘broad, global agreement that includes the acceptance of Visa at all Amazon stores and sites’ Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK organisations untroubled by Trickbot surge

A surge in Trickbot infections is targeting some of the world’s most prominent brands, but UK organisations seem thankfully unaffected Continue Reading

By

• Alex Scroxton, Security Editor

CIO interview: Adam Miller, group head of IT, Markerstudy Group

The insurer and Auto Windscreens owner is using cloud-based virtual desktops to ease acquisitions and support home working during the pandemic – and its IT chief has a growing range of projects on the go Continue Reading

By

• Mark Samuels

The British people are waking up to the scandal that happened under their noses

Victims of the Post Office Horizon scandal have been suffering in silence for many years, but the current public inquiry is giving them a voice, and people are listening Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

2021 another record year for UK cyber investment

Total revenue generated by the UK’s cyber sector was up 14% last year, and UK-registered security firms raised over £1bn in investment Continue Reading

By

• Alex Scroxton, Security Editor

DDoS attacks hit Ukrainian defence ministry and banks

A further wave of cyber attacks has taken place against targets in Ukraine amid heightened tension in the region Continue Reading

By

• Alex Scroxton, Security Editor

Nordic countries lack a unified approach to AI

Nordic countries need to work together on a pan-regional artificial intelligence strategy Continue Reading

By

• Gerard O'Dwyer

UK finance regulator effects changes to ‘buy now, pay later’ contract terms

BNPL finance providers have agreed to make their contracts with consumers fairer, amid concerns Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

NatWest group shutters 32 more branches as digital shift continues

Banking group announces more branch closures as part of its digital transformation, but promises that no customers will be left behind Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

China emerges as leader in vulnerability exploitation

Threat actors linked to China are emerging as a significant force in the weaponisation of newly discovered CVEs Continue Reading

By

• Alex Scroxton, Security Editor

Why security professionals should pay attention to what Russia is doing

Even though the average organisation is an unlikely target for a Russian state cyber attack, here's why security teams still need to watch what Russian threat groups are up to Continue Reading

By

• Alex Scroxton, Security Editor

IR35 reforms: HMRC slammed for ‘over-collecting tax’ from non-compliant public sector bodies

HMRC has moved to play down claims it is collecting more tax than it is due when tackling non-compliance with the IR35 reforms in the public sector Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Phishing tests are a useful exercise, but don’t overdo it

The vast majority of cyber attacks start with a phish, so it’s not surprising that phishing tests form part of cyber training plans. But sometimes these tests go too far. Cyberis’ Gemma Moore looks at how to avoid the pitfalls Continue Reading

By

• Gemma Moore

UK second in money laundering hall of shame

Banks need to step up their anti-money laundering processes if billions of pounds’ worth of criminal activity is to be prevented Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Linux-based clouds an open door for attackers, says VMware

Its prevalence as a cloud operating system means Linux is becoming a meal ticket for malicious actors, but the security industry does not seem to have cottoned on to this yet, says VMware Continue Reading

By

• Alex Scroxton, Security Editor

Ransomware ever more sophisticated and impactful, warns NCSC

UK’s National Cyber Security Centre teams up with US and Australian partners in a joint advisory warning organisations of the increasing sophistication exhibited by criminal ransomware gangs Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft stomps on 48 bugs in February Patch Tuesday update

It’s a light Patch Tuesday for February 2022, as Microsoft issues fixes for just 48 CVEs, including a solitary zero-day Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft to start blocking macros to thwart malware

Microsoft is making changes to web macro permissions across multiple Office apps to help improve user security Continue Reading

By

• Alex Scroxton, Security Editor

The Security Interviews: Building the UK’s future cyber ecosystem

As the government lays out the next iteration of its Cyber Security Strategy, we speak to Plexal and Lorca’s Saj Huq about his work building a cyber ecosystem to support the UK’s future ambitions Continue Reading

By

• Alex Scroxton, Security Editor

UK fintech investment sees sevenfold increase in a year

UK fintech investment rose from $5.2bn in 2020 to $37.3bn in 2021, with 603 private equity, venture capital and merger and acquisition deals Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UAE chooses Accenture to develop national payments platform

Consortium led by Accenture to build new payments infrastructure in the United Arab Emirates Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: How to build a human firewall

In-house or outsourced? What makes a good security training programme, and what questions should buyers ask when procuring training as a service? Continue Reading

By

• Merry Song, Turnkey Consulting