Posts Tagged ‘Banks’

postheadericon UK banks urged to do more to tackle rampant online fraud

Banks are being urged to step up to the plate and to “work together to tackle this problem head on”, as their response has been found to be disproportionate to the scale of the problem.

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postheadericon Banking malware on Google Play targets Polish banks

Besides delivering the promised functionalities, the malicious apps can display fake notifications and login forms seemingly coming from legitimate banking applications, harvest credentials entered into the fake forms, as well as intercept text messages to bypass SMS-based 2-factor authentication.

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postheadericon Testing, marketing, and rummaging in the FUD banks

Early in 2017, Kevin Townsend invited David Harley and others to comment on vendor hype. Here he expands on his original commentary.

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postheadericon Demystifying targeted malware used against Polish banks

The purpose of this blog is to deliver technical details of an as-yet minimally documented malware that has made headlines in Poland.

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postheadericon Decision makers at banks ‘in the dark’ about data breaches

Decision makers at banks are in the dark when it comes to data breaches at their organization, according to KPMG’s 2016 Banking Outlook Survey.

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postheadericon Microsoft and R3 Partnership to Accelerate Adoption of Distributed Ledger Technologies by Global Banks

NEW YORK and REDMOND, Wash. – April 4, 2016 – Microsoft Corp. and the R3 Consortium today announced a strategic partnership that will accelerate the use of distributed ledger technologies, also known as blockchain, among R3 member banks and global financial markets. Distributed ledger technologies enable enterprises and business network participants to complete financial transactions with greater speed, security, cost-efficiency and transparency relative to solutions currently used. In addition, R3 named Microsoft Azure the preferred cloud services provider for its R3 Lab and Research Center serving more than 40 member banks.

Under the terms of the deal, Microsoft will provide cloud-based tools, services and infrastructure for R3 lab locations around the world, as well as dedicated technical architects, project managers, lab assistants and support services. R3’s global labs will drive faster experimentation, provide technical agility and accelerate learning as the financial services industry moves toward validated and certified distributed ledger technology implementations.

“With intelligent, cloud-based technology, R3 and member banks will experiment and learn faster, accelerating distributed ledger technology deployment,” said Peggy Johnson, executive vice president of global business development at Microsoft. “What’s more, our collaboration brings to light tremendous opportunities to rethink business processes and transform entire industries.”

“The partnership between Microsoft and R3 will scale the use of distributed ledger technology in a way that will change the entire financial services industry,” said David Rutter, CEO of R3. “The Azure platform and intelligent cloud services bring advanced capabilities to this budding financial ecosystem, and the commitment by Microsoft will accelerate the adoption of distributed ledger technology around the globe and take our R3 Lab and Research Center offering to a new level of capability.”

R3 and Consortium members will have access to Microsoft’s expanding ecosystem of BaaS partners including Ethereum and ConsenSys, Ripple, Eris Industries, Coinprism, Factom, BitPay, Manifold Technology, AlphaPoint, IOTA, BlockApps STRATO, Tendermint LibraTax, and many others that will aid in the development, testing and deployment of distributed ledger applications in cloud, hybrid and local environments.

About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) is the leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more.

About R3

R3 is a financial technology innovation company led by a team of financial industry veterans, technologists and new tech entrepreneurs, bringing together expertise from electronic financial markets, cryptography and digital currencies. R3 operates in New York, London and San Francisco and with its partners to define, design and deliver the next generation of financial technology.

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postheadericon Banks ‘should not compensate’ victims of online fraud

UK Metropolitan police commissioner Sir Bernard Hogan-Howe has advised banks not to offer compensation to victims of online fraud.

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postheadericon Are cybercriminals targeting banks with ransomware?

Ransomware is the latest tool in the cybercriminal’s arsenal, but it has to date largely been used to target consumers. Could it now be used to hit banks and other financial institutions too?

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postheadericon Armada Collective launches DDoS attacks against Greek banks

The Armada Collective has launched DDoS attacks against three Greek banks, again demanding ransom in the form of bitcoins.

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postheadericon UK Consumers willing to share DNA with banks to secure identity

Consumers in the UK would be happy to share their DNA if it would help secure their financial and personal information, according to a new report.

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