Cyber
Covid-19 frazzles AI fraud systems
Seismic changes in customer behaviour see machine learning solutions throw out false positives
New body will share EU intelligence on cyber-threats
ECB, Europol and the EU Agency for Cybersecurity join forum to share cyber security information
Cyber risks cost 2-3% of profits at banks and insurers – RBNZ research
New Zealand central bank finds chance these threats may cause much greater losses
IMF-MAS research says cyber risks can be modelled with limited data
Public data can be used to create unique formulae to model hypothetical cyber attacks
Cyber security suffers from inconsistent approaches, says IMF’s Lipton
Emerging markets struggle to implement international recommendations
Riksbank to join ECB’s cyber security framework
Swedish central bank launches forum with main national financial firms to test Tiber-SE
Cyber stress tests reveal risks in Singaporean firms
Insurance firms report potential losses as high as $3.4 billion in MAS stress test
FSI paper details ‘red team testing’
Paper sets out how the cyber-security tests are used in different jurisdictions
Cyber attacks on financial firms rise by 37% – survey
Eighty-eight per cent of participants report domain name system attacks over the last year
BoE finds room for improvement in cyber attack exercise
Participants have made changes since previous exercise but some issues remain, central bank says
MAS issues ‘cyber hygiene’ rules; eases sandbox barriers
Regulator aims to prevent cyber crime through basic measures
BoE’s Kashyap warns banks vulnerable to state-sponsored cyber attacks
FPC member says he is not sure banks are capable of defending themselves
UK and Singapore to collaborate on cyber security
BoE, FCA and MAS say they will investigate ways to share information and potentially staff
Bank of Israel to collaborate with national body on cyber defence
Memorandum with National Cyber Directorate sets stage for closer co-operation on bank security
FSB working on cyber incident response toolkit
Team developing tools for effective response and recovery after a cyber attack
Cyber crime is ‘present danger’ for financial system – BoE deputy
Sam Woods emphasises need for more widespread stress-testing of cyber security
Cyber fraudsters starting to rethink tactics – report
Swift research shows hackers have switched to transferring smaller amounts during normal business hours
Cyber resilience hinges on collaboration, Nordic central bankers say
Central banks must ensure preventative measures are cost effective
FCA survey reveals significant increase in tech failures
Cyber incidents represented 18% of incidents reported to the FCA in year to October
Report highlights cyber vulnerabilities in securities market
Structure of the market and number of participants makes sector increasingly difficult to safeguard
Cyber attacks could lead to financial crisis – Cœuré
Security must improve both at core and periphery of financial markets, senior ECB official says
FSB finalises ‘cyber lexicon’
Common language seen as important step towards closer cyber co-operation globally
Bank of Mexico raises cyber alert to red after payment system breach
Mexico’s interbank payment system suffers second breach in less than six months
Ghana’s central bank ramps up cyber effort
Central bank launches new directive and security operations centre