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Microsoft Says Austrian Firm Behind Spyware Targeting Law Firms, Banks
Date: July 27, 2022
By James Pearson LONDON (Reuters) – Security researchers at Microsoft have said an Austrian firm was behind a string of digital intrusions at banks, law firms and strategic consultancies in at least three countries. The firm, DSIRF, developed spyware – malicious software designed to spy on or steal information from a target’s device – called...
Advancing Aml: Why Ultimate Beneficial Owners Must Be Properly Identified
Date: July 26, 2022
By Joost van Houten, CEO of Sentinels In March 2022, global regulatory watchdog the Financial Action Task Force (FATF) adopted amendments to Recommendation 24 (R.24) of its 40 Recommendations that govern global anti-money laundering (AML) policy. This concerns Ultimate Beneficial Ownership (UBO), i.e., the person who profits from money moving into or out of a...
U.S. Watchdogs Scrutinise UBS Over Staff Messaging
Date: July 26, 2022
ZURICH (Reuters) – U.S. regulators are looking into whether UBS Group properly documented communications among staff as part of a wider probe of the sector, the Swiss bank said in notes to its second-quarter results on Tuesday. Last year, Reuters reported that the U.S. Securities and Exchange Commission (SEC) was looking into whether Wall Street...
What Security Means for Financial Institutions in a Digital-First Economy
Date: July 25, 2022
By Ross Brewer, Vice President and General Manager of EMEA and APJ for AttackIQ, touches on how financial institutions can build a threat-informed defence and navigate the current compliance space. Ransomware continues to proliferate in today’s ever-expanding digital economy, hindering companies’ and Governments’ abilities to ward off threats. The highest number of ransomware attacks has...
EU to Add Sberbank, Russian Metals Baron to Sanctions List
Date: July 19, 2022
By Francesco Guarascio BRUSSELS (Reuters) – The EU is set to add Russia’s top lender Sberbank and the head of giant zinc and copper firm UMMC to its list of individuals and companies banned for supporting Moscow’s invasion of Ukraine, according to draft documents seen by Reuters. The 48 individuals and nine entities to be...
Financial Institutions Must Start Thinking Differently About Cybersecurity, Risk, and Resilience
Date: July 14, 2022
By Andy Norton, European Cyber Risk Officer at Armis According to 79% of those taking part in the most recent Bank of England systemic risk survey, cyber-attack was the most cited risk to the UK’s financial system. A survey, it should be noted, that was carried out prior to the Russian invasion of Ukraine and...