Security - Long Reads, News, Articles & Research: Finextra

Anna Roughley Head of Insight and Engagement at Lending Standards Board (LSB)

APP scams – are you protected?

Financial crime is on the rise, but the Lending Standing Board’s (LSB) CRM Code acts like Gotham’s bat-signal, calling banks, lenders, and building societies to protect consumers, and warning scammers that these firms are increasingly ready for the fight. In the last two years of pandemic upheaval, how people make payments has changed dramatically...

18 May 2023 /security

Lovelorn and conned: Don't give your heart to a fraudster this Valentine's

Sehrish Alikhan Reporter at Finextra

Lovelorn and conned: Don't give your heart to a fraudster this Valentine's

Valentine’s Day celebrates romance and gives couples an opportunity to showcase their love, but also exposes lonely souls to getting their hearts broken in more ways than one. Financial fraudsters are targeting the lovelorn as romance scams are set to surge on the fated day of love (and heart-shaped consumerism). Love statistics: How Valentine’s D...

14 February 2023 /security

The fintech sentiment: Data Privacy Day 2023 and the policies protecting financial services

Madhvi Sonia Head of Content at Finextra

The fintech sentiment: Data Privacy Day 2023 and the policies protecting financial services

Data Privacy Day – also referred to as Data Protection Day in Europe, is an international event that occurs every year on 28th January and promotes privacy best practices. This day also marks the anniversary of the Council of Europe’s Convention 108 in 1981, which was the first legally binding international instrument in the data protection field....

31 January 2023 /security

How the financial sector can get ahead of cyberattacks and regulators

Jonathan Reiber VP for Cybersecurity Strategy and Policy at AttackIQ

How the financial sector can get ahead of cyberattacks and regulators

Why do cybercriminals attack? Most of the time it’s to line their pockets, by blackmailing organisations through ransomware attacks or stealing and selling sensitive data. Criminals know that they can extort banking, financial services, and insurance (BFSI) organisations for more money, and so it’s no surprise that they go after them at a higher r...

30 January 2023 /security

12 Security measures you must take when using digital payments to avoid scams

Loretta Kilday Spokesperson at Debt Consolidation Care

12 Security measures you must take when using digital payments to avoid scams

Digital payments are a practical choice for many customers, ranging from credit cards to mobile wallets and everything in between. However, users must take additional security precautions to protect themselves when making digital payments, as online transactions are susceptible to data breaches and other security flaws. Here are a few preventive m...

12 January 2023 /security

What can compliance professionals learn from HM Treasury’s latest AML/CFT review?

Thomas Cattee Solicitor at Gherson

What can compliance professionals learn from HM Treasury’s latest AML/CFT review?

Background On 24 June 2022, HM Treasury published its “Review of the UK’s AML/CFT regulatory and supervisory regime” (the “Review”). This article will provide some initial observations from the Review, before delving into the some of the detail and extracting some points of interest and key learning points, with a particular focus on new technolog...

09 August 2022 /security

Differentiation in the digital economy: a new wave of risk management innovation

Madhvi Sonia Head of Content at Finextra

Differentiation in the digital economy: a new wave of risk management innovation

If banks fail to take advantage of the potential that innovative technology provides, financial ecosystems risk remaining fragmented, heterogeneous and gaps could form in the infrastructure for criminals to infiltrate. However, today, post-financial crisis and amid the Covid-19 pandemic, financial institutions are utilising a variety of applicatio...

06 January 2022 /security

Ransomware attacks: Should ransom payments to hackers be banned in the UK under legislation?

Elizabeth Meade Senior Associate at Cooke, Young & Keidan LLP

Ransomware attacks: Should ransom payments to hackers be banned in the UK under legislation?

Should the UK make payments in response to ransomware illegal? It is an idea that is currently being considered by some US states, and Ciaran Martin, the former chief executive of Britain’s National Cyber Security Centre, recently told the FT that legislation outlawing payments should be looked at. On the one hand, it would seem an obvious soluti...

06 August 2021 /security

The future of payments: Perfecting payments protection

Hamish Monk Senior Reporter at Finextra

The future of payments: Perfecting payments protection

With merchants leaning on card-not-present payments during the pandemic, and consumers themselves further embracing online banking, new opportunities have been created for financial criminals to exploit weaknesses in the digital payments system, and defraud people out of their hard-earned cash. Therefore, financial institutions are adjusting their...

23 June 2021 /security

The AI-Powered Cybersecurity Arms Race and its Perils

Eyal Balicer Senior Vice President, Global Cyber Partnerships at Citi

The AI-Powered Cybersecurity Arms Race and its Perils

The advancement in the field of artificial intelligence (AI) is still one of the most important technological achievements in recent history. The prominence and prevalence of machine learning and deep learning algorithms of all types, being able to unearth and infer valuable conclusions about the world surrounding us without being explicitly progr...

12 November 2020 /security

Risk Appetite: How are you Spending your Quarters at the Risk Arcade?

Richard Dupree CEO and Founder at Riskliance

Risk Appetite: How are you Spending your Quarters at the Risk Arcade?

When I was a kid in Texas, I would spend most weekends squandering my hard-earned allowance at the local arcade. The local arcade was the place to see and be seen. Where you could connect with friends away from parental supervision and escape into the fantasy world of gaming, a much more analogue experience than today’s online gaming and social ne...

13 August 2020 /security

How will a new working environment change the way companies value cybersecurity?

Retired Member

How will a new working environment change the way companies value cybersecurity?

Cybersecurity is in place to protect our computer systems and networks from theft or damage to their hardware, software or electronic data. Due to technology evolving and companies becoming more reliant on technology, cybersecurity is becoming more important to businesses. Cybersecurity is extremely complex, both in terms of politics and technolog...

23 July 2020 /security

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