IT for financial services

ICO wants to ‘empower people through information’

Information Commissioner’s Office sets out commitment to safeguard the information rights of the most vulnerable people in UK society Continue Reading

ING pilot project tests payments from phone to phone

Dutch bank is testing an app that enables users to make peer-to-peer payments directly from smartphone to smartphone when they are close together Continue Reading

Slippery phish wriggles around MFA protections, says Microsoft

Microsoft’s threat researchers share details of a phishing campaign that hit 10,000 organisations, against which standard multifactor authentication provides little defence Continue Reading

July Patch Tuesday brings more than 80 fixes, one zero-day

While some admins can put their feet up and let Windows Autopatch do the hard work of updating their Microsoft estates, for the rest of us, the Patch Tuesday bandwagon keeps on keeping on Continue Reading

Goldman Sachs hires Google incubator founder

Bank recruits co-founder of Google’s incubator as it continues to transform its business through digital technology Continue Reading

MaliBot Android malware spreading fast, says Check Point

The MaliBot malware is becoming a persistent and widespread problem, and Android users should be on their guard, says Check Point Continue Reading

Is time running out for legacy payments technology used by banks?

The company bringing Google-like processing to core banking for banks has added the same proposition in payments Continue Reading

Microsoft Windows Autopatch now generally available

Microsoft customers with Windows Enterprise E3 and E5 licences can now take full advantage of its new automated patching service Continue Reading

Microsoft VBA macro block will return

Microsoft provides more details about its sudden decision to rollback a landmark security policy, and reassures users it is a temporary measure Continue Reading

Cyber insurance: An effective use of your scant security budget?

The ISF’s Paul Watts asks if cyber insurance is a must-have item, an expensive luxury, or the emperor’s new clothes Continue Reading

Stop telling clients to pay ransomware gangs, solicitors told

The NCSC and the ICO are calling on solicitors to help tackle the rising number of ransomware payments being made, and to stop giving erroneous advice to victims Continue Reading

Microsoft appears to reverse VBA macro-blocking

Microsoft quietly reverses VBA macro-blocking across its Office portfolio in a move that has left security experts puzzled Continue Reading

Lots to consider when buying cyber insurance, so do your homework

When considering implementing a cyber insurance policy, due diligence should be your watchword, says Paddy Francis of Airbus CyberSecurity Continue Reading

MI5, FBI chiefs warn of Chinese cyber espionage threat

In a joint appearance in London, MI5 director general Ken McCallum and FBI director Chris Wray warn of the growing threat posed by the Chinese government to UK and US interests Continue Reading

Security Think Tank: Cyber insurance – A nice safety blanket, but don’t count on it

In the second instalment of this month’s Security Think Tank, Mike Gillespie argues that cyber insurance should be thought of like car insurance – you don’t start driving recklessly because you’re covered Continue Reading

Prepare for long-term cyber threat from Ukraine war, says NCSC

The NCSC has published refreshed guidance on cyber preparedness as the war on Ukraine continues, urging organisations to pay attention to the state of their security teams Continue Reading

NCSC CEO: Why we should run towards crises to elevate cyber security

National Cyber Security Centre CEO Lindy Cameron, the 2022 Computer Weekly UKtech50 Most Influential Person in UK IT, reflects on a career immersed in crisis management, and how she is using this to elevate cyber security standards across the country Continue Reading

Security Think Tank: Now is the time to think about cyber insurance

Many IT leaders shy away from cyber insurance, but new, innovative developments in the market can help organisations take an approach that suits their needs Continue Reading

New cyber extortion op appears to have hit AMD

Semiconductor specialist AMD has confirmed it is investigating reports that a ‘bad actor’ has stolen hundreds of gigabytes of its data Continue Reading

Executive interview: Chris Conradi, chief digital officer, FSN Capital

Chris Conradi is taking his learnings at Google into the private equity industry at Norway’s FSN Capital Continue Reading

Brexit a net negative for UK cyber, say CISOs

Six years on from the UK’s Brexit vote, the majority of security professionals say leaving the EU has raised concerns over their ability to keep their organisations safe Continue Reading

LockBit ransomware gang launches bug bounty programme

A bug bounty programme is among a number of features LockBit’s developers have added to ‘version 3.0’ of the ransomware Continue Reading

Black Basta ransomware crew aiming for ‘big leagues’

Emergent Black Basta ransomware gang has hit more than 50 countries since bursting onto the scene earlier this year, says Cybereason Continue Reading

US cyber agency in fresh warning over Log4Shell risk to VMware

Many VMware Horizon and UAG servers remain defenceless against Log4Shell, and organisations continue to fall victim to the vulnerability Continue Reading

Assessment and knowledge: Your key tools to secure suppliers

There is no silver bullet that will resolve all the issues arising from today’s interconnected businesses and complex supply chains, but there are some key tools at your disposal Continue Reading

What will the Data Reform Bill mean for UK businesses operating in the EU?

Following the government’s response to the Data Reform Bill consultation, Peter Galdies of DQM GRC looks at what might lie ahead for UK organisations working in the European Union Continue Reading

FCA seeks more tech expertise in fight against fraud

UK financial services regulator wants technology professionals to join its team fighting online fraud Continue Reading

Security Think Tank: Supply chain security demands systematic approach

Supply chain security measures need to be systematic and assessed so as to minimise the complexity and cost to the business Continue Reading

NatWest files under whistleblower’s bed contain live customer data

Former Royal Bank of Scotland worker wants bank to take back customer files and provide an ‘adequate receipt’ Continue Reading

CIO interview: Simon Liste, chief information technology officer, Pension Protection Fund

While aspects of the PPF’s three-year digital transformation plan were delayed by the pandemic, the organisation is now pressing ahead with widespread improvements to IT Continue Reading

Security Think Tank: Balanced approach can detangle supply chain complexity

Achieving an appropriate balance between people, processes and technology can help to detangle the complexities of the supply chain and create better security practices Continue Reading

Government won’t regulate on professional cyber standards

The government has elected not to proceed with regulatory intervention to embed standards and pathways across the cyber profession Continue Reading

CNI leaders’ attitude to ransomware lackadaisical at best

A survey of security decision-makers in sectors regarded as critical national infrastructure reveals a disappointing attitude to ransomware threats Continue Reading

New coalition lifts Finland’s 6G status

Finland is laying the foundations for future European leadership in 6G research and development Continue Reading

Supply chain security goes deep – forget this at your peril

It may have hit the headlines as an IT issue, but supply chain security goes far deeper into an organisation than just technology Continue Reading

British businesses to recognise Google skills certificates

Google training programmes are being made available to more people in the UK as part of an initiative from the supplier and major UK businesses Continue Reading

Fintech firm chooses Salesforce software to support growth

Revolut is to use Saleasforce software to support sales and marketing as part of its expansion plans Continue Reading

Government responds to Data Reform Bill consultation

Westminster claims its new data laws will boost British benefits, protect consumers, and seize the ‘benefits’ of Brexit Continue Reading

Consider governance, coordination and risk to secure supply chain

A recent ISACA study found myriad factors that give good reason to be concerned about supply chain security. Cyber adviser Brian Fletcher recommends three areas to zero in on Continue Reading

Office 365 loophole may give ransomware an easy shot at your files

Researchers at Proofpoint have discovered potentially dangerous Microsoft Office 365 functionality that they believe may give ransomware a clear shot at files stored on SharePoint and OneDrive Continue Reading

Security Think Tank: Best practices for boosting supply chain security

In a highly connected world, managing the supply chain landscape requires an adaptation of the ‘traditional’ approach to managing cyber risk Continue Reading

Interpol arrests thousands in global cyber fraud crackdown

A two-month operation saw law enforcement agencies in 76 countries crack down on organised cyber fraud Continue Reading

Patch Tuesday dogged by concerns over Microsoft vulnerability response

The last Patch Tuesday in its current form is overshadowed by persistent concerns about how Microsoft deals with vulnerability disclosure Continue Reading

Virgin Money slashes loan application time through fintech

Business loan application process at Virgin Money cut from days to minutes through fintech platform Continue Reading

Security Think Tank: Basic steps to secure your supply chain

When it comes to supply chain security, there are some core things you should be doing – but remember, the devil is in the detail Continue Reading

MS Azure Synapse vulnerability fixed after six-month slog

Microsoft patched a critical Azure Synapse vulnerability twice, but each time the researcher who discovered it was able to bypass it with ease, leading to a lengthy saga Continue Reading

Spanish bank and Microsoft create innovation lab

CaixaBank and Microsoft partner in artificial intelligence and metaverse innovation Continue Reading

Deutsche Bank relocates Russia-based tech staff to Berlin

German bank offers employees in Russian technology centres the opportunity to move to the German capital Continue Reading

HSBC to give thousands of staff fintech training

Thousands of HSBC staff will receive training in fintech technologies through a course developed with Saïd Business School Continue Reading

UK, US prepare to launch PET project

A transatlantic prize challenge to accelerate development of privacy-enhancing technologies is set to begin Continue Reading

Tech startups raise more than £12bn in 2022 to date

The £12.4bn in venture capital raised is more than was raised in the whole of 2020, putting the UK ahead of every country other than the US Continue Reading

Security Think Tank: Don’t trust the weakest link? Don’t trust any link

Your security model shouldn’t fall apart just because a part of your business, or a partner, has weak security. This is why information-centric security is a must Continue Reading

Snake Keylogger climbing malware charts, says Check Point

Cyber criminals behind Snake Keylogger campaigns have been switching up their tactics in the past few weeks, say researchers Continue Reading

ProxyLogon, ProxyShell may have driven increase in dwell times

The median network intruder dwell time was up 36% to 15 days last year, thanks to massive exploitation of the ProxyLogon and ProxyShell vulnerabilities by IABs, according to new Sophos data Continue Reading

P27 advance could replace multiple national clearing systems in Nordics

Nordic payments project promises to make payments to other countries as easy as sending a text message Continue Reading

UAE residents think 3D printing will have the most positive impact on society

People in the UAE believe next-generation technologies such as 3D printing and artificial intelligence will become widespread in the country Continue Reading

Strong internal foundations are key to withstanding external threats

The modern-day abundance of platforms, apps and IT tools presents malicious actors with a web of interconnection that is easily exploited to move rapidly through the network to compromise critical assets. Security teams need to understand these attack pathways better in order to fight back Continue Reading

NatWest replacing multiple customer service systems

NatWest Bank puts customer service tools on a single platform using Microsoft Dynamics 365 Continue Reading

Executive interview: Miles Hillier, NatWest

Retail bank’s digital channel development head talks about building a multi-channel customer experience Continue Reading

Global business insurer saves 50,000 hours through RPA

QBE started its robotic process automation journey in 2017 and has already saved 50,000 hours, enabling staff to focus on customer care Continue Reading

Two-thirds of UK organisations defrauded since start of pandemic

Nearly two out of three UK companies say they have experienced some form of fraud or economic crime in the past two years, according to a report Continue Reading

Dutch companies struggle to fill tech jobs

There are plenty of IT job vacancies in the Netherlands, but a shortage of IT professionals Continue Reading

Ransomware volumes grew faster than ever in 2021

Verizon’s annual DBIR assessment of the security landscape highlights an unprecedented boom in ransomware volumes, to the surprise of nobody Continue Reading

JPMorgan’s UK digital retail bank reaches half-million customer mark

Chase Bank in the UK has already reached the half-million customer mark, but expects a profit to be some years away Continue Reading

Fintech unicorn Klarna to cut 10% of staff amid global shocks

Fintech unicorn to slash jobs in reaction to global economic shocks signalling challenges in the financial technology sector Continue Reading

Applying international law to cyber will be a tall order

Many in the security community have voiced their support for the UK government’s ambitions to work towards agreement with other countries on the application of international law to cyber space, but not without some reservations Continue Reading

Government will legislate to protect access to cash amid digital revolution

The government is giving the Financial Conduct Authority more powers to force banks to ensure cash withdrawal and deposit services are within easy reach of customers Continue Reading

Relentless branch closures at Lloyds Bank continue as digital banking takes hold

UK bank branches are being shuttered in large numbers as consumers choose online banking, with Lloyds Banking Group announcing more closures Continue Reading

Security Think Tank: To follow a path, you need a good map

The modern-day abundance of platforms, apps and IT tools presents malicious actors with a web of interconnection that is easily exploited to move rapidly through the network to compromise critical assets. Security teams need to understand these attack pathways better in order to fight back Continue Reading

Mastercard biometric programme will allow payment authentication by smile

Mastercard is inviting banks and merchants to join a programme to set standards for biometric payments technology Continue Reading

(ISC)² to train 100,000 cyber pros in UK

Security association (ISC)² unveils ambitious UK training programme Continue Reading

Santander has so far moved 80% of IT infrastructure to cloud

Spanish banking giant Santander continues its journey into the cloud as it strives to be cloud native Continue Reading

App-based Starling Bank doubles its Cardiff workforce

Digital bank is recruiting nearly 500 people, including data scientists and engineers, to its Cardiff operation Continue Reading

CyberUK 22: Five Eyes focuses on MSP security

The western intelligence community has set out practical steps IT service providers and their customers can take to protect themselves Continue Reading

Cyber accreditation body Crest forges new training partnerships

Crest says partnerships with Hack The Box and Immersive Labs will enhance its members’ defensive and offensive security skills Continue Reading

Nationwide stops thousands more attempted frauds with Strong Customer Authentication

Nationwide Building Society is blocking an additional 2000 attempted online shopping frauds a month through extra checks Continue Reading

Microsoft fixes three zero-days on May Patch Tuesday

It’s the second-to-last Patch Tuesday as we know it, and Microsoft has fixed a total of 75 bugs, including three zero-days Continue Reading

CyberUK 22: Cyber leaders affirm UK’s whole-of-society strategy

On the opening day of CyberUK 2022, GCHQ director Jeremy Fleming and NCSC CEO Lindy Cameron have spoken of their commitment to the government’s ambition for a whole-of-society cyber strategy Continue Reading

CyberUK 22: NCSC refreshes cloud security guidance

The National Cyber Security Centre is revising its cloud guidance as increasing uptake of potentially vulnerable cloud services puts more organisations at risk of compromise Continue Reading

European retailers see embedded finance as a revenue builder

Retailers and e-commerce businesses are working with tech suppliers to embed financial products and services in their customer offerings Continue Reading

Ransomware recovery costs dwarf actual ransoms

The cost of recovering from a ransomware attack far outweighs the ransoms now being demanded by cyber criminals, according to recent data Continue Reading

Manufacturer sues JPMorgan after cyber criminals stole $272m

Manufacturer files lawsuit alleging that US bank failed to inform it of suspicious transaction activity Continue Reading

Log4Shell, ProxyLogon, ProxyShell among most exploited bugs of 2021

These 15 CVEs were the most commonly exploited last year, and if you haven’t mitigated against them, now is the time Continue Reading

Ransomware victims paying out when they don’t need to

Sophos’s annual State of Ransomware report shows dramatic increases in the impact of ransomware attacks, but also finds many organisations are paying ransoms when they don’t need to Continue Reading

Government digital ignorance puts Dutch economy at risk

In this interview, Michiel Steltman, managing director of Digital Infrastructure Netherlands, tells Computer Weekly why the Dutch digital economy is at risk due to a lack of knowledge and understanding at government level Continue Reading

BCS passes defiant Ukrainian tech industry message to its members

BCS, the Chartered Institute for IT, has passed on a message from Ukrainian IT suppliers that the country is open for, and in need of, business Continue Reading

Emotet tests new tricks to thwart enhanced security

The operators of the Emotet botnet seem to be trying to find a way to get around recent changes made by Microsoft to better protect its users Continue Reading

Danish researcher explains zero-knowledge proofs and post-quantum encryption

A graduate from the University of Aarhus, a Danish researcher is now a leading player in some of the most important issues in cyber security Continue Reading

Global digital wallet transactions set to soar

Payments using mobile phones are set to soar globally as suppliers expand the services available, according to research Continue Reading

Finance regulator identifies challenger bank financial crime weaknesses

Financial Conduct Authority review finds challenger banks need to do more to prevent their platforms being used to commit financial crime, such as money laundering Continue Reading

Tech to account for over half of regulatory compliance spending

By 2026, regtech will account for more than half of the money that businesses spend on compliance with regulations Continue Reading

One-third of scams that hit TSB are impersonation fraud

TSB reports an increase in fraudsters impersonating trusted organisations to trick consumers into making payments to them Continue Reading

Nationwide Building Society streamlines payment dispute process through software

Building society has speeded up the resolution of customer disputes over Visa payments by using Pegasystems software Continue Reading

Financial Ombudsman Service chooses TCS as digital transformation partner

Tata Consultancy Services will build and implement key systems as part the Financial Ombudsman Service’s digital transformation Continue Reading

WatchGuard firewall users urged to patch Cyclops Blink vulnerability

The US authorities have seen fit to add the WatchGuard vulnerability used by Sandworm to build the Cyclops Blink botnet to its list of must-patch vulnerabilities Continue Reading

Microsoft patches two zero-days, 10 critical bugs

Patch Tuesday is here once again. This month, security teams must fix two privilege escalation zero-days in the Windows Common Log File System Driver and the Windows User Profile Service Continue Reading

Mastercard opens European tech hub in Dublin

Mastercard is doubling its technology workforce in Dublin through a new European tech hub in the Irish capital Continue Reading

Banks should be able to integrate e-krona into existing systems, says Swedish regulator

Swedish financial services regulator says banks and service providers should be able to integrate a potential digital currency into existing systems Continue Reading

European IT and BPO outsourcing off to strong start

European IT and business process outsourcing services continue to increase rapidly, with cloud-based services now more than half of the total Continue Reading

Triple-threat Borat malware no joke for victims

Unlike its namesake, the newly discovered Borat malware won’t raise a smile for IT security pros Continue Reading