Biometrics to gain ground on passwords for apps

Biometrics is making inroads in the world of finance as banks such as RBS and HSBC trial the technology. The technology uses unique markers, such as fingerprints or iris patterns, to verify the identity of the user of a service. It could potentially eliminate more burdensome forms of access verification, like remembering passwords, replacing them with something more convenient and secure. »

SWIFT announces plan to bolster banks’ cyber-security

SWIFT announces plan to bolster banks’ cyber-security

Gottfried Leibbrandt, CEO of SWIFT, the interbank software and messaging service for bank payments, has announced plans to reinforce its members cyber-security in the wake of February’s $81m theft from the Bangladesh central bank. Thieves used SWIFT instructions to steal the money, and attempted to divert a total of $951m. “I think it will prove »

British Insurance Brokers’ Association announces creation of cyber committee

Steve White, the British Insurance Brokers’ Association chief executive, has announced the creation of a cyber committee to monitor developments in cybersecurity and provide advice to insurance brokers on possible risks. The committee will be made up of technical experts from member firms. Speaking at the association’s annual conference on April 7th, White cited an »

DDoS cyber attacks: Europe’s banks need a plan


It’s an arms race and – right now – banks are losing. A recent casualty was HSBC, which on January 29th saw its online banking system brought down for several hours by a distributed denial-of-service (DDoS) attack. DDoS attacks are getting larger, and better organised. According to a recent report by Massachusetts-based security consultant Arbor »

Markit teams with banks for “Know Your Vendor” platform launch

Know Your Vendor

Markit, the information vendor, is teaming up with three leading banks to launch a “Know Your Vendor” database, which is calling KY3P. Barclays, HSBC and Morgan Stanley are working with Markit on the launch and will put information about their own third party vendors onto the platform, which will be delivered as a software as service via Dell »

NCC shares upgraded by broker on security business boom

Brokerage firm Peel Hunt has upped its valuation for shares in NCC, the London-listed security and testing firm which has reported a doubling of security “incidents” reported to it over the past year. Peel Hunt cited a number of key shifts in the marketplace for cyber-security services amounting to a: “Substantial broadening of the approach »

Asia to drive growth in security testing certification

Ian Glover-CREST

Ian Glover, president of CREST — the UK-based Council of Registered Ethical Testers — expects his organisation to certify a growing number of penetration and threat intelligence testing companies in 2016 as demand for their services grows. CREST, a not-for-profit organisation whose objective is to represent the information security industry by demonstrating the competence of »

EU directive will force major financial firms to disclose cyber attacks


Among Europe’s largest banks, the long-established practice has been to keep breaches of cyber-security quiet – or as quiet as possible.  But a major change is in the pipeline:  European-wide legislation that will force firms to report cyber attacks to national incident teams. The European Commission has drafted a European Network and Infrastructure directive, which is now waiting »

SEC’s audit trail repository ready for comment

It has been described as “the largest financial IT project of all time”. So perhaps it is not surprising that it has taken more than five years to narrow down the list of bidders who want to build the Consolidated Audit Trail (CAT) — the giant data repository for stock orders and quotes on US »

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