Latest Security News: Finextra Research

FCA fines Equifax £11m for major consumer data breach

The Financial Conduct Authority (FCA) has fined Equifax over £11 million for failing to protect their customers from a data breach outsourced to its US parent company.

13 October 2023

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Axis Bank and Fibe team on India's first numberless credit card

India's Axis Bank has joined forced with local fintech Fibe to launch the country's first numberless credit card.

13 October 2023

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NatWest enrolls debit cards in Mastercard's Click to Pay

NatWest has become the first UK bank to enable Mastercard's Click to Pay for all of its customers.

12 October 2023

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Amazon Web Services and Microsoft cloud duopoly to be investigated by Ofcom

Historically, it could be argued that financial institutions were beholden to pick between AWS, Google Cloud and Microsoft Azure for all workloads due to availability, but with other smaller cloud providers offering private cloud fabrics, financial organisations are considering hybrid or multicloud options. However, Ofcom has an alternative view.

06 October 2023

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American Express to pilot biometrics at the online checkout

American Express is to pilot the use of facial and fingerprint recognition for authenticating users at online checkouts.

05 October 2023

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Chase UK to ban crypto transactions

Chase UK has become the latest bank to ban crypto-related transactions from its mobile app in the face of escalating fraud fears.

26 September 2023

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Cisco acquires cybersecurity company Splunk in $28 billion deal

In its largest-ever deal, Cisco Systems has agreed to pay $28 billion to acquire cybersecurity company Splunk.

21 September 2023

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Singapore's retail banks take steps to enhance cybersecurity

The Association of Banks in Singapore (ABS) announced that major retail banks in Singapore have enhanced their security measures in a bid to combat an increasingly complex cyber-threat environment.

18 September 2023

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European banks join forces on new fraud fighting tool for instant payments

EBA Clearing has recruited nine banks from six countries to undertake data model training for a new fraud fighting feature for account-to-account and instant payments.

14 September 2023

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UK banks ditch the Metaverse

The number of UK banks investing in technologies such as virtual reality and augmented reality is falling as the Metaverse hype fades away.

13 September 2023

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Digital banking fraud prevention firm Cleafy raises €10m

Cleafy, an Italian provider of fraud prevention technology for digital banking, has raised €10 million in funding led by United Ventures through the fund UV T-Growth.

12 September 2023

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CFPB takes aim at Apple over NFC chip access

The Consumer Financial Protection Bureau (CFPB) has fired a shot across Apple's bows over the tech giant's policy of restricting access to the NFC chip technology that enables iPhone users to make payments.

08 September 2023

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