Financial Services Archive
Financial services firms must do more to educate employees about cyber security, according to the FCA (Financial Conduct Authority). In a report published last month, the FCA urged organisations to tackle staff awareness training at all levels, and to ensure …
US food giant Mondelez is suing insurance company Zurich American for denying a $100 million (£76 million) claim filed after the NotPetya attack. The confectioner, which owns Cadbury and Oreo, says it lost 1,700 servers and 24,000 laptops as the …
The ICO (Information Commissioner’s Office) has fined Grove Pension Solutions £40,000 for sending nearly 2 million unsolicited marketing emails. The pensions firm’s campaign, which took place between October 2016 and October 2017, violated the PECR (Privacy and Electronic Communications Regulations). Tried to do the right thing Grove’s PECR failure wasn’t for a lack …
Cyber crime is spiralling out of control in the financial industry. The FCA (Financial Conduct Authority) received 145 breach notifications in 2018, up from 25 the previous year. Things are particularly bad among investment banks, which saw a tenfold increase …
Sometimes the only thing that can stop an outrageous plan is an even more outrageous one. At least that was the thinking at the Bank of Valletta in Malta, which last week prevented a daring cyber heist by shutting down …
This week, we discuss the compromise of Metro Bank’s two-factor authentication system, nearly one million cyber attacks on the Student Loans Company, nearly 60,000 GDPR breaches and a surprising discovery for some marine biologists. Hello, and welcome to the IT …
Data from Lloyds Bank has revealed a 58% increase in BEC (business email compromise) attacks in the year to date. It is important to note that the “true scale of the problem is likely to be much larger” as this …
This week, we discuss a Bank of England cyber resilience exercise, the latest cyber security news from the US Office of Personnel Management, the highlights of this month’s Patch Tuesday, and a surprising admission by a Japanese cyber security minister. …
In addition to data subjects’ rights to be informed, of access, to rectification, to erasure, to restrict processing, to data portability and to object, the EU’s GDPR (General Data Protection Regulation) sets out requirements relating to automated individual decision-making, including …
The EU General Data Protection Regulation (GDPR) is designed to harmonise data protection laws across the EU, but certain industries will have to respond differently in order to achieve compliance. A report published by research and consultancy company Celent highlights the challenges that the …
