Tags: Banking

Comodo Labs spots SWIFT phishing attack

2018 has been a tough start for international banking system SWIFT. A report from the Russian Central Bank said hackers stole $6 million in an attack on the SWIFT network last year. That attack, like previous attacks in Bangladesh relied on attackers targeting the SWIFT terminals inside banks. The attacks led to SWIFT creating its…

British Blockchain Association launches new journal – the JBBA

The British Blockchain Association (BBA) has launched what it calls Europe’s first Journal devoted to blockchain and distributed ledger technologies (DLT). It is entitled somewhat unimaginatively the JBBA, or the Journal of The British Blockchain Association. The journal is available online. An inaugural print version will become available this Summer. Dr Naseem Naqvi, JBBA’s editor…

Xero deepens Stripe integration in US

Xero has announced that Stripe will be its first invoicing partner to enable ACH (Automatic clearing house) bank transfers. This is only for the US market though. Craig Walker, Chief Technology Officer at Xero commented: “Today, we’re excited to announce the next phase in our partnership with Stripe with the introduction of Stripe ACH. Together,…

Xero improves and extends bank feeds in UK

Xero has announced in a blog that HSBC has continued to enhance the integration to its software. Using the latest set of API’s the HSBC bank feed is now designed to “set and forget”. This means that once configured users no longer need to change anything or restart the service. Users of Xero and HSBC,…

Guardtime and Metaco offer SILO for bank cryptocurrency custody

In Geneva last week, Guardtime and Metaco announced the launch of SILO, the aim of which is to enable banks to offer bank cryptocurrency custody for client assets. The SILO solution brings together software from Metaco with hardware from Guardtime. The latter is matters for Guardtime specializes in anti-tamper hardware. Ben Robinson, Chief Strategy Officer…

Like bank charges, Dridex refuses to go away

Banking malware Dridex has made yet another comeback. Researchers at Forcepoint Security Labs detected a campaign that lasted just seven hours. Short attacks have become increasingly common as attackers seek to avoid detection by security vendors. Unlike previous campaigns it used compromised FTP sites for distribution. Not only is this unusual but the attack burned…

Technology in finance: banking on business success

New banking technologies and cloud adoption have already changed the way financial institutions operate. Yet the upcoming revised Payments Service Directive (PSD2) will again disrupt the current rules of engagement. It could allow the technology sector, especially Fintech start-ups, and challenger banks to take advantage of an area that is currently ruled by major banks.…

FSB tells UK Government to deal with late payments

Mike Cherry, Chairman, Federation of Small Business (FSB) has published his New Year message. He has called on the UK Government to deal with late payments, poor broadband, bank branch closures and tax issues. Cherry also calls out the risks that Brexit poses for many small businesses. In his message Cherry says: “Small businesses are…

Experian claims fraud costs UK £190 billion per year

Credit service agency Experian has reported that the UK loses over £190 billion per year to fraud. That staggering number comes from its Annual Fraud Indicator 2017 report. £190 billion is equivalent to £10,000 per family. It is more than 9% of the UK’s projected GDP for 2017 ($2,496 (£2,080) billion according to Statistics Times).…

Trustwave warns of new cyberattack on banks

Trustwave SpiderLabs has published details on a new banking attack it believes is set to go worldwide soon. Entitled Post-Soviet Bank Heists, the 11 page report can be downloaded from their website (registration required). In the introduction to the report it says: “…each bank compromise resulted in a significant amount of stolen funds. The actual…