Cyber crime
ECB prioritises IT outsourcing and cyber resilience supervision
Institutions lost $161 million due to poor-quality outsourced services in 2022
Supervisors face reputational risk from fraud, Basel Committee says
Surveys shows some forms of digital fraud are rising, but data gaps are “significant”, paper warns
Sam Bankman-Fried takes the stand in wire fraud trial
FTX head says he doesn’t know how $9 billion in funds disappeared
US Treasury division proposes crypto mixer regulation
Proposals target terrorism financing after Office of Foreign Assets Control sanctions Hamas
Australia proposes crypto regulation reforms
Platform operators would need a licence and be subject to financial services laws
Bank of Canada researchers claim breakthrough in credentialisation
System’s creators use a Merkle tree to create “secret-free and quantum-safe” method
Financial Stability Benchmarks 2023 – executive summary
Key findings of the 2023 benchmark, including resources, regulation, macro-pru, crime and future risk
Financial Stability Benchmarks 2023 report – how central banks confront risk
Central banks discuss resources, regulating banks and non-banks, macro-pru, crime and future risk
Quantum computing and AI threaten financial system, Fed says
Ransomware groups seek to “exert maximum pressure on victim organisations”
Building future-proof cyber security in the financial system
The founders of SecurEyes discuss how central banks can protect themselves and financial stability
BIS attacks crypto in report to G20 officials
But report promotes DLT for use in cross-border wholesale CBDC
BIS reports gaps in CBDC cyber security modelling
Over 90% of central banks now working on a CBDC project, survey finds
How advanced AI threatens banking security systems
The future of payments promises to transform the fintech world as traditional friction barriers begin to disappear. Amid this innovation, concerns arise: could the advent of AI technology give rise to novel forms of fraud that overshadow improvements to…
FATF finds global crypto AML failures
Most jurisdictions “struggle with fundamental requirements”
Ukrainian hackers claim attack on Russian banks
Cyber attack targets Bank of Russia’s interbank system, disrupting payments
SEC charges Binance and Coinbase
World’s largest crypto exchanges accused of illegal operations at expense of investors
Third-party risks are a first priority for central banks
Cyber and concentration risks crystallise co-operation between critical infrastructure providers
Iosco sets out global crypto regulation
International group of regulators targets conflicts of interest in the industry
European Council adopts Mica regulation
Crypto legal framework covers issuers and service providers but not defi
UK regulator and police raid crypto ATM sites
There are no legally registered crypto ATMs in the UK
Fintech Benchmarks 2023 – presentation
Specialist Joasia E. Popowicz discusses CBDCs, cyber security, AI/ML in regtech, suptech and cloud computing
Hackers seize South Sudan central bank website
Group demands central bank act to make currency stronger against the dollar
US Treasury releases defi risk assessment
Lax adherence to AML/CFT requirements allows criminals to launder money
CBSL requests criminal proceedings against crypto schemes
Legal action could allow investors to recoup losses