IT for financial services

UK government announces plans to protect consumers through cryptoasset regulation

UK government wants feedback on its plans to regulate organisations operating in the cryptoasset sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Cloud security top risk to enterprises in 2023, says study

A PwC study finds senior executives expect cyber attacks on cloud services to increase significantly this year Continue Reading

By

• Alex Scroxton, Security Editor

PayPal slashes 2,000 jobs in face of tough economic outlook

Fintech giant making thousands of redundancies as global economic outlook remains poor Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Malware variant can block contactless payments

Kaspersky warns that the latest variant of the Prilex malware can block contactless payments to force people to insert cards, enabling criminals to steal money Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK Cyber Council and ISACA launch audit, assurance programme

The UK Cyber Security Council has teamed up with ISACA to partner on a new audit and assurance programme for security pros Continue Reading

By

• Alex Scroxton, Security Editor

Crédit Agricole tests quantum in finance

The corporate and investment bank has run experiments with Pasqal and Multiverse to demo quantum computing in finance Continue Reading

By

• Cliff Saran, Managing Editor

Zurich Insurance Group plots multiyear move to AWS public cloud

Multiline insurance firm Zurich is plotting a move to the AWS public cloud to help revamp its customer offerings Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Digital banking changing the high street forever as banks close branches and open alternatives

Banks are reshaping their channels as customers move to digital services, with physical innovation complementing digital strategies Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Mark Logan on his vision for a Scottish technology ecosystem

The Scottish Government’s entrepreneur advisor speaks to Computer Weekly about the philosophy behind an ambitious technology ecosystem strategy Continue Reading

By

• Brian McKenna, Enterprise Applications Editor

Hive ransomware gang taken down after FBI hacks back

The FBI hacked into Hive’s servers, stole its decryption keys and then took down its servers in a major action that has successfully disrupted a prolific and dangerous ransomware operation Continue Reading

By

• Alex Scroxton, Security Editor

Final months of 2022 saw highest ever number of bank account switches

More people than ever before switched their current account provider using the government’s switching service Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK Treasury recruiting digital currency leader

The UK government’s investigation into the merits of a central bank digital currency gathers pace at it looks for a team leader Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Boards struggle to resolve cyber risk in digital supply chains

Accelerated digitisation of supply chains is introducing more cyber risk for which many organisations seem unprepared, according to the BSI’s annual report on supply chain risk Continue Reading

By

• Alex Scroxton, Security Editor

UK insurers need to up their game on cyber gaps, says PRA

Gaps and limitations in how insurers respond to cyber risk need to be addressed, according to the Bank of England regulator, the Prudential Regulation Authority Continue Reading

By

• Alex Scroxton, Security Editor

Nationwide Building Society CIO to join Co-operative Bank

Gary Delooze to join Co-operative Bank as CIO after six years heading up Nationwide Building Society’s IT department Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

SSRF attacks hit 100,000 businesses globally since November

There has been a dramatic increase in attacks exploiting the ProxyNotShell/OWASSRF exploit chains to target Microsoft Exchange servers Continue Reading

By

• Alex Scroxton, Security Editor

Fake online contest makes Yahoo! most phished brand of Q4 2022

Yahoo! was the most frequently phished brand during the last three months of 2022, according to a report Continue Reading

By

• Alex Scroxton, Security Editor

SMEs keen on embedded finance, but more choice needed to increase take-up

Suppliers to small and medium-sized enterprises need to offer more choice when embedding financial products in their services if take-up is to increase Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

The rise of fraud in pop culture is impacting consumers’ digital trust

Shows such as The Tinder Swindler and Inventing Anna were big money-earners for Netflix in 2022, but Onfido’s Mike Tuchen says their popularity risks damaging consumer trust Continue Reading

By

• Mike Tuchen

More than 1,000 tech roles chopped at Capital One

US bank makes tech job cuts as its digital transformation moves into a new phase Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Fraudsters and cyber criminals stole more than £4bn in the UK through 2022

The amount of money stolen by fraudsters and cybercriminals in the UK saw a huge increase in 2022 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK fintech payments unicorn cuts back as Covid-19 boost wears off

Payments infrastructure firm Paddle downsizes as Covid-19-generated business boost runs out of steam Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Crest throws support behind CyberUp CMA reform campaign

Cyber accreditation association Crest International has lent its support to the CyberUp campaign for reform to the Computer Misuse Act of 1990 Continue Reading

By

• Alex Scroxton, Security Editor

Fintech makes job cuts to workforce amid falling demand

Peer-to-peer lender cuts 14% of its workforce amid a rise in interest rates limiting the popularity of lending services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Cash use rises for first time in 13 years as cost of living increases

The number of cash withdrawals increased last year, for the first time in 13 years, but remains below the pre-Covid-19 figure Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How Indian banks can drive automation in corporate banking

Banks should prioritise their processes for automation based on the level of human intervention, understand their processes thoroughly and put employees at the centre of their automation efforts Continue Reading

By

• Aaron Tan, TechTarget

SMEs eye moving business to challenger bank

Known for their consumer banking success, challenger banks are now winning over hearts and minds in the small business sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Microsoft fixes EoP zero-day on January Patch Tuesday

On the first Patch Tuesday of 2023, Microsoft fixed an elevation of privilege vulnerability in Windows Advanced Local Procedure Call, which has been actively exploited in the wild and may be co-opted into ransomware campaigns Continue Reading

By

• Alex Scroxton, Security Editor

Davos 2023: Pervasive cyber crime and cyber security gaps pose severe risk to organisations

Governments and organisations face tough trade-offs as they balance immediate problems caused by economic recession, energy shortages and rising interest rates with longer-term risks, including the impact of global warming Continue Reading

By

• Bill Goodwin, Computer Weekly

Latest Innovate Finance report reveals decrease in UK fintech investment, but like-for-like increase

Innovate Finance’s latest figures on fintech investment show reduction in UK, but report methodology leaves this open to change Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Insurer Beazley introduces catastrophe bond to ease cyber risk

Insurance company Beazley says that its $45m cyber catastrophe bond will help to protect its balance sheet and enable it to offer more cyber insurance cover Continue Reading

By

• Alex Scroxton, Security Editor

JPMorgan ordered to face lawsuit over cyber attack on Ray-Ban maker

US banking giant JPMorgan forced to respond to accusations that it failed to inform a business customer about suspicious transactions Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Proposed digital fraud refund rules risk excluding many victims

Proposals to establish a fraud refund mechanism in the UK risk excluding many victims of digitally enabled fraud, a major bank has warned Continue Reading

By

• Alex Scroxton, Security Editor

Cashless Denmark has no bank robberies in a year for first time

Denmark saw no bank robberies in a single year for the first time ever, but online fraud continues to increase Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How technology is fuelling CommBank’s customer experience

The Commonwealth Bank of Australia has built up capabilities in cloud and microservices while empowering engineering teams to solve complex customer problems Continue Reading

By

• Aaron Tan, TechTarget

Traditional banking under threat from platform-based alternatives

Banking as a service embedded in non-banking business offerings will take large chunks from traditional banks Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Diversity and inclusion figures high in New Year Honours List 2023

The New Year Honours List 2023 hailed those in the technology community who promote diversity and inclusion Continue Reading

By

• Brian McKenna, Enterprise Applications Editor

The importance of improving data quality at source

Data replication crises have struck government and scientific data quality efforts. A lack of scrutiny over data being used at source has led to oversights from national statistics to financial auditing Continue Reading

By

• SA Mathieson

Cyber security professionals share their biggest lessons of 2022

In the run-up to 2023, cyber security professionals are taking the time to reflect on the past few months and share their biggest lessons of 2022 Continue Reading

By

• Nicholas Fearn

Top 10 Nordic IT stories of 2022

Here are Computer Weekly's top 10 Nordic IT articles of 2022 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How does red teaming test the ultimate limits of cyber security?

An expert ethical hacker reveals how he goes about carrying out a red team exercise Continue Reading

By

• Rob Shapland

Why the current fraud model is broken, and how to fix it

Scammers and fraudsters are catching up with the good guys; a new technological approach is needed to fight skyrocketing volumes of digital fraud, says Darwinium founder Alisdair Faulkner Continue Reading

By

• Alisdair Faulkner

Top 10 financial services IT stories of 2022

Here are Computer Weekly’s top 10 financial services IT articles of 2022, looking back at the moves and changes over the past year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Top 10 cyber security stories of 2022

The war in Ukraine loomed large over the cyber security news agenda, but 2022 also saw growing awareness of open source security, discussion around cyber insurance, and more besides Continue Reading

By

• Alex Scroxton, Security Editor

Top 10 cyber crime stories of 2022

Cyber crime continued to hit the headlines in 2022, with impactful cyber attacks abounding, digitally enabled fraud ever more widespread and plenty of ransomware incidents Continue Reading

By

• Alex Scroxton, Security Editor

Four-day working week set to stay at Atom bank

Challenger bank Atom has formalised a four-day working week policy after a successful trial Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB hit with huge fine after IT migration disaster

TSB has been fined nearly £50m due to failings during its IT migration catastrophe Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: 2022 brought plenty of learning opportunities in cyber

At the end of another busy 12 months, Turnkey Consulting’s Andrew Morris sums up some of the most important takeaways for cyber pros Continue Reading

By

• Andrew Morris, Turnkey Consulting

Ethical hackers flex their muscles in 2022

Ethical hackers working through HackerOne programmes found 21% more vulnerabilities in 2022 than in 2021 Continue Reading

By

• Alex Scroxton, Security Editor

Microsoft and London Stock Exchange agree £2.3bn 10-year cloud deal

The London Stock Exchange is building on its acquisition of financial data provider Refinitiv through a deal with Microsoft Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Microsoft fixes two zero-days in final Patch Tuesday of 2022

December’s Patch Tuesday is typically a light month for Microsoft, and this year proved no exception, but there are still several critical issues worth addressing, and two zero-days for defenders to pore over Continue Reading

By

• Alex Scroxton, Security Editor

EU issues draft data adequacy decision in favour of US

The European Commission has concluded that the United States does ensure an adequate level of protection for personal data transferred from the European Union and will now launch the process towards the adoption of an adequacy decision Continue Reading

By

• Alex Scroxton, Security Editor

The nature of the CISO role will be in flux in 2023

As cyber risk outpaces organisational defences, and cyber attacks and breaches cause more and more damage, the nature of the CISO role is entering a state of flux, according to a report Continue Reading

By

• Alex Scroxton, Security Editor

Data focus pays off for NatWest

Data is at the heart of bank’s push to improve customer experience – and enhance its green credentials, as transformation and strategy head David Charnley explains. Continue Reading

Security Think Tank: Embrace prioritisation, people, imperfections

Security and IT professionals should try to make peace with their imperfections in 2023, says Nominet CISO Paul Lewis Continue Reading

By

• Paul Lewis, Nominet

Iranian APT seen exploiting GitHub repository as C2 mechanism

A subgroup of the Iran-linked Cobalt Mirage APT group has been caught taking advantage of the GitHub open source project as a means to operate its latest custom malware Continue Reading

By

• Alex Scroxton, Security Editor

Digital bank to recruit 1,000 tech experts in Manchester

App-based bank Starling is adding 1,000 people to its workforce with technology professionals being recruited for its new operation in Manchester Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: 2022 changed how we thought about resilience

Increasing cyber resilience is at the heart of the people-processes-technology triangle, and 2022 saw shifts in all three of these aspects, says PA Consulting’s Sharon Shochat Continue Reading

By

• Sharon Shochat

Consumers to get new protections against dodgy apps

Government’s new code of practice will impose new privacy and security measures on app store operators and developers Continue Reading

By

• Alex Scroxton, Security Editor

Apple to tap third party for physical security keys

Apple is launching a number of new security protections, including the addition of third-party-provided hardware security keys Continue Reading

By

• Alex Scroxton, Security Editor

Deutsche Bank powers new banking apps with Nvidia AI acceleration

The bank is looking at how AI acceleration can process financial texts, accelerate risk analysis and support its plans for the metaverse Continue Reading

By

• Cliff Saran, Managing Editor

Security Think Tank: As cyber pros, we need to articulate our needs better

There is always a lot to learn about security, but one of the most important lessons may not relate to technology at all, says Petra Wenham Continue Reading

By

• Petra Wenham

Don’t become an unwitting tool in Russia’s cyber war

Researchers have turned up evidence that enterprise networks are being co-opted by Russian threat actors to launch attacks against targets in Ukraine. How can you avoid becoming an unwitting tool in a state-backed attack? Continue Reading

By

• Alex Scroxton, Security Editor

Fake investment ads persist on Meta’s social networks

Online adverts for investment scams relating to property and crypto assets are still getting past measures designed to stop them Continue Reading

By

• Alex Scroxton, Security Editor

Post Office boosted its ‘coffers’ as Horizon system threw up unexplained shortfalls, inquiry told

The Post Office was ‘keen’ to make subpostmasters cover unexplained accounting shortfall as its business struggled, public inquiry hears Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Ransomware: Is there hope beyond the overhyped?

Up-and-coming cyber concepts attack surface management and security mesh architectures seem to hold some promise in tackling ransomware, but they are a little way off maturity Continue Reading

By

• Paul Lewis, Nominet

Latest LockBit ransomware versions have wormable capabilities

Sophos researchers have reverse-engineered the Lockbit 3.0 ransomware, shedding new light on its evolving capabilities and firming up links with BlackMatter Continue Reading

By

• Alex Scroxton, Security Editor

Think technology, process, human risk to manage ransomware

Effective ransomware handling boils down to three core areas – technology, process and human risk Continue Reading

By

• Andrew Morris, Turnkey Consulting

How gamifying cyber training can improve your defences

Security training is the cornerstone of any cyber defence strategy. With ever-escalating online threats, it is now more important than ever that this training is an engaging experience Continue Reading

By

• Peter Ray Allison

CIO interview: David Charnley, head of transformation and strategy, NatWest Group

Data is at the heart of the banking giant’s push to improve customer experience – and to enhance its environmental credentials Continue Reading

By

• Mark Samuels

Data management, backup becoming the CISO's responsibility

More and more CISOs are taking on responsibility for wider data management strategies, and this trend looks set to grow next year Continue Reading

By

• Alex Scroxton, Security Editor

Indefinite storage: What it is and why you might need it

Indefinite storage addresses the issue that archived data may need to be kept well beyond the lifespan of the technology it was written for Continue Reading

By

• Stephen Pritchard

CW Nordics: Icelandic datacentres point way to greener IT

Iceland may soon become even more attractive to firms wanting to minimise their carbon footprint while using high-performance computing services. Read more about it in this issue. Also find out how a robo investment company, Nord Investments, is harnessing open banking to make thing easier for its clients. Continue Reading

Your staff are the frontline in your ransomware fight

As part of a solid cyber defence plan, the CISO must make sure that the frontline within the organisation is prepared for an attack, says Theodore Wiggins of Airbus Protect Continue Reading

By

• Theodore Wiggins, Airbus Protect

UK police arrest 120 in largest-ever cyber fraud crackdown

The administrator and more than 100 users of the iSpoof.cc cyber fraud website have been arrested in a major counter-fraud operation led by the Metropolitan Police Continue Reading

By

• Alex Scroxton, Security Editor

South Korea data adequacy pact brings £15m Brexit bonus

UK government finalises a data adequacy agreement with South Korea, saying it will unlock a post-Brexit business bonus of just under £15m Continue Reading

By

• Alex Scroxton, Security Editor

Ducktail spins new tales to hijack Facebook Business accounts

The increasingly active Ducktail cyber crime operation is refining its operations, seeking new methods to compromise its victims’ Facebook Business accounts Continue Reading

By

• Alex Scroxton, Security Editor

Killnet DDoS hacktivists target Royal Family and others

Russia-aligned hacktivists targeted multiple UK websites, including those of the Royal Family, in a new campaign of DDoS attacks Continue Reading

By

• Alex Scroxton, Security Editor

C-suite mystified by cyber security jargon

Malware, supply chain attack, zero-day, IoC, TTP and Mitre ATT&CK are just some of the everyday terms that security pros use that risk making the world of cyber incomprehensible to outsiders Continue Reading

By

• Alex Scroxton, Security Editor

Is Elon Musk’s Twitter safe, and should you stop using it?

With a litany of security and compliance issues exposed and in many cases caused by Elon Musk’s takeover of social media platform Twitter, some may be asking if it’s still safe or appropriate to use Continue Reading

By

• Alex Scroxton, Security Editor

Brexit deregulation will make UK next Silicon Valley, vows Hunt

Chancellor vows to revolutionise how the IT industry is regulated to spur competition, investment and innovation in a technological ‘Big Bang’ Continue Reading

By

• Alex Scroxton, Security Editor

Another Log4Shell warning after Iranian attack on US government

The breach of a US federal body by an Iranian threat actor exploiting the Adobe Log4j Log4Shell vulnerability has prompted a fresh flurry of patching Continue Reading

By

• Alex Scroxton, Security Editor

Siu in court

Cristiano Ronaldo has chased his pearl-clutching condemnation of Manchester United’s unbridled marketing drive with the announcement of his own NFT collection. The preening Ozymandias of football ... Continue Reading

By

• Ryan Priest

Global network fragmentation a source of increasing risk

Risk consultancy’s report says the weaponisation of cyber space and geopolitical clashes herald a breakdown of global networks into distinct regional or national architectures Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Ransomware defences: An extended to-do list

Strategies to extend ransomware protection beyond backups and intrusion detection must centre dark web monitoring, among other things Continue Reading

By

• Alex Holden

TikTok influencers are better than finance firms for money advice, say quarter of young adults

Young people are turning to TikTok-based influencers for advice on how to manage their finances and where to bank Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

APP fraud volumes expected to double by 2026, says report

Losses to authorised push payment fraud in the UK are expected to climb to over $1.5bn in the next four years. Meanwhile, the NAO accuses the Home Office of lagging on progress to tackle the issue Continue Reading

By

• Alex Scroxton, Security Editor

CaixaBank robot answers the most customer questions

AI-based virtual assistant at Spanish bank is now used by over four million customers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: Let’s be transparent about ransomware

Greater transparency regarding ransomware attacks, including details about attack methods used and what kinds of assets were compromised, would likely help the community prevent future attacks Continue Reading

By

• John Tolbert, KuppingerCole

Cyber insurance: The good, the bad and the ugly

Most cyber insurance contracts are innately flawed because they exclude losses arising from state-backed cyber attacks, and this will make proper attribution even more important in the future, says Cisco Talos’ Martin Lee Continue Reading

By

• Martin Lee

Volume of self-reported breaches to ICO jumps 30%

The number of self-reported breaches to the UK’s Information Commissioner’s Office soared by nearly 30% in the 12 months to 30 June 2022 Continue Reading

By

• Alex Scroxton, Security Editor

An encouraging new conversation around sustainable IT, says Nordic CIO

What started as a whisper a decade ago has become distinctly audible chatter among IT leaders sharing best practices on how to protect the environment Continue Reading

By

• Pat Brans, Pat Brans Associates/Grenoble Ecole de Management

Security Think Tank: To stop ransomware, preparation is the best medicine

You can’t ‘stop’ ransomware, but you can do a lot to keep yourself from becoming ensnared when it strikes Continue Reading

By

• Paul Watts, Information Security Forum

The world's oldest cryptocurrency exchange prefers doing business in Luxembourg

One of the newest niches in fintech, cryptocurrency exchanges may fare very well in Luxembourg Continue Reading

By

• Pat Brans, Pat Brans Associates/Grenoble Ecole de Management

Microsoft serves smorgasbord of six zero-days

November’s Patch Tuesday fixes significantly fewer vulnerabilities of late, but includes six actively-exploited zero-days, three of them of critical severity Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Anti-ransomware strategies should be as easy as ABC

When developing and implementing ransomware protection strategies, the importance of paying thorough attention to security measures you might consider elementary cannot be understated Continue Reading

By

• Petra Wenham

To fight ransomware, we must treat digital infrastructure as critical

Ransomware defence is failing because we don’t view our digital infrastructure in the same way as our physical infrastructure, argues Elastic’s Mandy Andress Continue Reading

By

• Mandy Andress, Elastic

Microsoft: Nation-state cyber attacks became increasingly destructive in 2022

The willingness of nation-state actors to conduct destructive cyber attacks is a source of grave concern, as Microsoft’s latest annual Digital Defence Report lays bare Continue Reading

By

• Alex Scroxton, Security Editor

Security Think Tank: Ransomware and CISOs’ balancing act

Ransomware has the potential to cause irreversible business damage, so CISOs should consider not only protection but also response and recovery Continue Reading

By

• Arina Palchik and Charles Moorey

Microsoft pledges $100m in new IT support for Ukraine

Microsoft will continue to offer free-of-charge technology support to Ukraine for the foreseeable future Continue Reading

By

• Alex Scroxton, Security Editor