Latest Security News: Finextra Research

Crypto-crime revenue drops by 65% - report

Revenue derived from cryptocurrency-related crime is down by 65% in the first half of 2022 compared to the corresponding period in 2021.

22 August 2022

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FCA fines Citi £12.5m for trading oversight failings

The UK's Financial Conduct Authority (FCA) has levied a £12.5m fine against Citigroup Global Markets over past failures to police its trading activity

22 August 2022

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Banks to pay $1bn over traders' use of WhatsApp

A handful of Wall Street banks are preparing to pay up to $200m each to settle a case with the Securities and Exchanges Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over the use of WhatsApp messages.

22 August 2022

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UK is card fraud capital of Europe

The UK has been crowned the card fraud capital of Europe, with more victims and higher losses experienced than any of its continental peers.

04 August 2022

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10% of UK adult victims of digital wallet fraud – ACI Worldwide

Research by ACI Worldwide has found that one in ten UK adults fell victim to online fraud in the past four years.

27 July 2022

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Lloyds, Santander, Barclays, TSB demand Google, Facebook reimburse online fraud victims

As reported in The Telegraph, UK banks have urged Big Tech and telecommunications firms to take responsibility for their contribution to the rise of online fraud and voluntarily reimburse victims.

25 July 2022

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UK to regulate stablecoins as part of Finance bill

Fintechs and crypto asset providers have welcomed the UK government’s decision to bring stablecoins into regulatory scope as part of the recently published Financial Services and Markets Bill.

21 July 2022

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UK proposes new AI rulebook

The UK government has published its plans to regulate the use of artificial intelligence (AI) which would see it depart from the EU's strategy to establish a centralised body to oversee the use of technology.

20 July 2022

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Firms failing to monitor social messaging

Financial services firms are falling short in their efforts to monitor employees' use of social media messaging despite ear-marking communications surveillance as an investment priority, according to recent research.

19 July 2022

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FCA continues ‘heavy’ tech investment for decision making

In a speech delivered this week by Nikhil Rathi, chief executive of the UK’s Financial Conduct Authority (FCA), to the Peterson Institute of International Economics, Rathi explained that the regulator has “invested heavily in data and technology” to take a more proactive stance and, crucially, spot harm and intervene more quickly and more broadly.

15 July 2022

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ANZ rolls out dynamic CVVs

Australia and New Zealand Bank is rolling out dynamic CVVs for customer cards as one a suite of enhancement to its ANZ Plus digital banking platform.

15 July 2022

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Bank of Ireland warns of new variation on smishing scams

Bank of Ireland is warning customers about a new wave of fraudulent text messages in circulation, where scammers are using customers’ card details to set up Apple/Google Pay.

15 July 2022

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