Banking and Finance

  • Two Prudential companies in Malaysia affected by MOVEit data-theft attack

    June 13, 2023

    Prudential Assurance Malaysia Bhd (PAMB) and Prudential BSN Takaful Bhd (PruBSN) have confirmed that they have been affected by the global MOVEit data-theft attack, “where a zero-day vulnerability was exploited.” The two insurance companies said that as soon as they became aware of the breach, “we took action to isolate the affected server while the incident ...

  • The Role of the SEC in Enforcing InfoSec Legislation

    June 12, 2023

    Founded 85 years ago at the height of the Great Depression, the Securities and Exchange Commission (SEC) has a clear mission: to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. Put simply, the SEC aims to protect US investors by maintaining a fair market. The SEC doesn’t work directly with investors, however. ...

  • Ukrainian hackers take down service provider for Russian banks

    June 9, 2023

    A group of Ukrainian hackers known as the Cyber.Anarchy.Squad claimed an attack that took down Russian telecom provider Infotel JSC on Thursday evening. Among other things, Moscow-based Infotel provides connectivity services between the Russian Central Bank and other Russian banks, online stores, and credit institutions. Read more… Source: Bleeping Computer  

  • Spanish Globalcaja bank confirms ransomware attack

    June 5, 2023

    A prominent Spanish bank has confirmed that it is dealing with a ransomware attack that has impacted multiple branches. On Friday, Globalcaja issued a statement assuring customers that the incident has not impacted its entities’ operations, and that electronic banking and ATM services are still functioning. Read more… Source: Computing News  

  • New Horabot campaign targets the Americas

    June 1, 2023

    Cisco Talos has observed a threat actor deploying a previously unidentified botnet program Talos is calling “Horabot,” which delivers a known banking trojan and spam tool onto victim machines in a campaign that has been ongoing since at least November 2020. The threat actor appears to be targeting Spanish-speaking users in the Americas and, based on ...

  • Man jailed for running multimillion-pound criminal website iSpoof

    May 19, 2023

    The man responsible for running a multimillion-pound fraud website, used by scammers to trick people into handing over their bank details, has been jailed. Tejay Fletcher, 35, pleaded guilty to running iSpoof, a website that allowed criminals and fraudsters to appear as if they were calling from banks, tax offices and other official bodies in an ...

  • Britain’s largest private pension scheme reveals scale of Capita break-in

    May 12, 2023

    Universities Superannuation Scheme, the UK’s largest private pension provider, says Capita has warned that details of almost half a million members were held on servers accessed during the recent breach. The USS made the disclosure today, saying that it uses Capita technology platform, Hartlink, to manage in-house pension administration processes, and was working closely with the ...

  • Spanish police dismantle phishing operation linked to crime ring

    May 9, 2023

    The National Police of Spain have arrested two hackers, 15 members of a criminal organization, and another 23 people involved in illegal financial operations in Madrid and Seville for alleged bank scams. The cybercrime operation is an email and SMS-based phishing campaign that allegedly scammed over 300,000 people and resulted in confirmed losses of at least ...

  • FCA urges Capita clients to ascertain if data was compromised in cyber-attack

    May 3, 2023

    The City regulator has contacted Capita’s corporate clients urging them to ascertain whether their customers’ data has been compromised after a cyber-attack on the outsourcer in March. The Financial Conduct Authority said it had written to firms it regulates and which outsource work to Capita to ensure they are “fully engaged” in assessing the fallout from ...

  • UK banks suffer service outage

    April 28, 2023

    Customers of Lloyds Bank, Halifax, Bank of Scotland and TSB Bank locked out of their accounts. Thousands of customers of four UK banks are having problems logging on via the companies’ websites and mobile apps. Read more… Source: Computing  

  • Cyber Thieves Are Getting More Creative

    April 24, 2023

    Cybercriminals pull off many of their crimes by combining lots of real information with just a tiny bit of misinformation, which can be financially devastating for both companies and individuals. This article describes some recent examples of this technique, which include exploiting wire transfers, stealing paychecks, and tricking employees into helping “the boss.” It’s important to ...

  • Bank of America at odds with Lloyd’s over state-backed cyberattack exemption

    April 20, 2023

    Bank of America has reportedly raised concerns with Lloyd’s of London about a move to exempt “state-backed” cyberattacks from standard insurance policies. Bank of America highlighted its concerns with the policy in a series of meetings between Lloyd’s and its biggest clients, the Financial Times reported. Read more… Source: MSN News  

  • Australians lose record $3.1 billion to scams in 2022

    April 16, 2023

    Doris McAllister spent her whole life working hard to support herself. So, last year, when the 75-year-old saw an international bank offering a good return on deposits, she decided to transfer her life’s savings of $260,000 across to help secure her retirement. Six weeks later, when she needed to make a withdrawal, she realised she had been ...

  • Latitude Financial refuses to pay cyber-attack ransom demands

    April 11, 2023

    Finance company Latitude Financial says it will not give in to ransom demands by cyber criminals behind one of Australia’s largest cyber-attacks. Almost 8 million driver’s licenses of Australian and New Zealand customers have been stolen including more than 6 million customer records. Read more… Source: MSN News  

  • Financial cyberthreats in 2022

    March 29, 2023

    Financial gain remains the key driver of cybercriminal activity. In the past year, we’ve seen multiple developments in this area – from new attack schemes targeting contactless payments to multiple ransomware groups continuing to emerge and haunt businesses. However, traditional financial threats – such as banking malware and financial phishing, continue to take up a ...

  • 8th Edition Connected Banking Summit Southern Africa – Formerly Africa Digital Banking Summit-Innovation and Excellence Awards

    March 24, 2023

    Accelerating Digital Inclusion and Sustainable Transformation The 8th Edition of the Connected Banking Summit Southern Africa is set to take place on May 24, 2023, in Johannesburg, South Africa, bringing together top executives, experts, and leaders from the banking and financial services industry. The summit, organized by the International Center for Strategic Alliances (ICSA), is a ...

  • Australian FinTech takes itself offline to deal with cyber incident that caused data leak

    March 21, 2023

    Latitude Financial has blamed a supplier for leaking creds that caused vast PII leak Australian outfit Latitude Financial has taken itself offline, and even stopped serving customers, while it tries to clean up an attack on its systems. The listed company last week called a halt to trade in its shares and filed news that it ...

  • Bee-Ware of Trigona, An Emerging Ransomware Strain

    March 16, 2023

    Trigona ransomware is a relatively new strain that security researchers first discovered in late October 2022. By analyzing Trigona ransomware binaries and ransom notes obtained from VirusTotal, as well as information from Unit 42 incident response, we determined that Trigona was very active during December 2022, with at least 15 potential victims being compromised. Affected ...

  • 7th Edition Connected Banking Summit East Africa – Innovation & Excellence Awards 2023 Concludes with Resounding Success

    March 13, 2023

    The Summit brought together the best and brightest minds in the banking, financial services, fintechs and techfin sectors. The event, which took place on 7th March 2023, featured insightful speakers, award-winning companies, and top-notch sponsors. Attendees were treated to a range of informative sessions, covering topics such as digital transformation, cybersecurity, and risk management. The keynote ...

  • ECB: The Quick and the Dead – building up cyber resilience in the financial sector

    March 8, 2023

    The proliferation of cyber threat actors combined with an increase in remote working and greater digital interconnectedness is raising the risk, frequency and severity of cyberattacks. Increasingly, cyber criminals are launching ransomware attacks and demanding payment in crypto. Cyberattacks related to geopolitical developments – Russia’s aggression against Ukraine in particular – have also become a more common ...