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Latest Results from /security

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FCA extends SCA deadline by a further six months

The UK's Financial Conduct Authority is to delay the implementation of strong customer authentication rules by a further six months in an effort to minimise disruption to consumers and merchants.

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Which? calls on banks to come clean about APP fraud refunds

UK consumer group Which? is calling on banks and building societies to publish figures on the proportion of customers they refund for authorised push payment (APP) fraud.

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UK Online Safety Bill lets social media giants off the hook

The UK Government has taken the first step in tackling online investment scams by including user-generated fraud within scope of the Online Safety Bill.

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Twitter Tip Jar users cite PayPal privacy concerns hours after rollout

Hours after Twitter announced the new money transfer feature Tip Jar, early testers took to the social media platform to air their concerns over addresses being included in PayPal receipts.

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Coalition urges UK government to add scams to Online Safety Bill

UK Finance, Which?, and City of London Police are among a host of organisations to sign on to a letter calling for the government to include online scams in its new 'Online Safety' bill.

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Information VP closes $101m fintech fund

Toronto-based fintech-focused venture capital firm Information Venture Partners has closed its third fund at US$101 million.

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HSBC's Voice ID prevents £249 million of attempted fraud

HSBC's caller identification programme Voice ID has cut telephone banking fraud by over 50% during the past year, demonstrating the value of biometric verification in the fight against scammers.

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NYDFS: SolarWinds hack is a harbinger of the next big financial crisis

Responding to the recent hack of IT company SolarWinds, the New York State Department of Financial Services says that the next big financial crisis could come from a cyber attack.

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Banks to be given autonomy in reimbursing APP fraud victims

UK Finance has announced a change to the process of reimbursing ‘no blame’ cases of authorised push payment (APP) scams, bringing in a process which enables signatory banks to individually pay back cases rather than through a shared central pot.

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European Payments Council issues RfP for real-time malware platform

The European Payments Council has issued a Request for Proposal to find an outsourced service provider for a new Sepa-wide Malware Information Sharing Platform to address real-time payments fraud risks.

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FIs see pandemic spike in cybercrime; banks cut security budgets

Nearly three quarters of financial institutions have seen a rise in cybercrime since the Covid-19 pandemic began, according to a survey from BAE Systems.

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TSB calls on tech platforms to tackle scam adverts

With fraud Britain's fastest growing crime, TSB is calling for banks to publish their reimbursement rates and for tech platforms to do more to remove scam adverts.