Tags banking

Senators urge global action on cyber bank robbers

by Shaun Waterman • 9 months ago

U.S. President Barack Obama should raise the issue of online bank robberies and other cyberattacks on the worldwide financial system at the upcoming G20 gathering of global leaders in China, six democratic senators urged this week.

Big banks join UBS on blockchain plan

by Shaun Waterman • 9 months ago

Three of the world's largest banks have joined with UBS in its plan to use blockchain to document and secure interbank settlements, underlining the transformative potential of the new encrypted distributed ledger technology.

Survey: Consumer fears on cybersecurity slowing mobile banking growth

by Shaun Waterman • 9 months ago

Just over a third of consumers in the U.S. and U.K. say they don't use mobile banking applications, and just under a third say they never will. Nearly three quarters of the hold-outs blame fears about poor security, according to a new survey.

Bank regulators briefed on Treasury-led cyber drill

by Shaun Waterman • 10 months ago

Federal and state financial regulators have been briefed on the results of the latest Treasury-led cybersecurity exercise, which explored the risk of a banking system collapse resulting from a cyberattack.

Bank regulator warns of growing cyber risk for financial sector

by Shaun Waterman • 11 months ago

Cyber attacks are one of the top three operational risks that banks face, according to the Office of the Comptroller of the Currency, highlighting a type of email scam which the agency says has cost businesses more than $2.3 billion over the past couple of years.

Singapore, aiming at FinTech innovation, will host IBM blockchain research center

by Shaun Waterman • 11 months ago

The center will initially focus on trade — using blockchain to improve efficiency and integrity of multiparty trade finance transactions.