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News and resources on cyber and physical threats to banks and fintechs worldwide.

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PSR lays out new ground rules for APP fraud

PSR lays out new ground rules for APP fraud

Both sending and receiving banks running transactions over the UK's Faster Payments scheme will be expected to split the cost of reimbursements in the case of authorised push payment fraud, under new rules devised by the Payment Systems Regulator.

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Multiple firms impacted by zero-day vulnerability in MOVEit file transfer system

Multiple firms impacted by zero-day vulnerability in MOVEit file transfer system

Trends shaping the State of Financial Crime 2023

Trends shaping the State of Financial Crime 2023

Spain's Globalcaja hit by ransomware attack

Spain's Globalcaja hit by ransomware attack

Central banks successfully test 'quantum resistant' communications channel

Central banks successfully test 'quantum resistant' communications channel

CFPB warns consumers about non-insured payments apps

CFPB warns consumers about non-insured payments apps

HSBC partners Quantinuum for quantum computing research

HSBC partners Quantinuum for quantum computing research

NatWest compiles Celebrity Scam Super League table

NatWest compiles Celebrity Scam Super League table

BIS explores use of data, tech and collaboration to combat money laundering

BIS explores use of data, tech and collaboration to combat money laundering

Two-thirds of all online shopping scams now start on Facebook and Instagram

Two-thirds of all online shopping scams now start on Facebook and Instagram

Dark web study reveals Brits are Europe's biggest card fraud victims

Dark web study reveals Brits are Europe's biggest card fraud victims

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[Webinar] Cloud-Native: How can banks achieve efficiency?[Webinar] Cloud-Native: How can banks achieve efficiency?
Security blogs
Personal Finance  

Enhancing User Protection: The Importance of Secure Wallet Integration in Crypto Payment Gateways

Pauline L

Pauline L - NOWPayments - Amsterdam

Banking Regulations  

UK regulators take aim at archaic data management practices

Barry Cashman

Barry Cashman - Veritas Technologies - Reading

Banking Strategy, Digital and Transformation  

What is mPIN code and does it fit in new mobile banking era?

Irina Latushkina

Irina Latushkina - AIROME Technologies - Singapore

Banking Architecture  

Why now is the time to modernise mainframe data

Steven Rackham

Steven Rackham - NetApp - London

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Latest TV
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Trends shaping the State of Financial Crime 2023

Trends shaping the State of Financial Crime 2023

Iain Armstrong, Practice Lead, Regulatory Affairs, ComplyAdvantage, and Alia Mahmud, Practice Lead, Regulatory Affairs, ComplyAdvantage, discuss the key findings in their recent research report on the state of Financial Crime in 2023, offering insights into what financial institutions need to consider regarding reputational risk and exploring the practices that are navigating compliance process challenges.
The future of resilient CBDC systems & cross-border architecture

The future of resilient CBDC systems & cross-border architecture

Beju Shah, Head of Nordic Centre, BIS Innovation Hub, Bank for International Settlements, speaks at NextGen Nordics 2023, about the Hub's latest projects that are looking into creating resilient CBDC systems, building a new architecture for cross-border retail CBDCs, and using data to combat money laundering across firms and boarders.
The Innovation Pushing Digital Identity Forward: Part 2

The Innovation Pushing Digital Identity Forward: Part 2

Stephen Curran, Chair of the Board Of Trustees Sovrin Foundation, Identity Consultant, speaks with Andrew Smith, RTGS.global, in FinextraTV’s Tech Uncovered Series. Continuing their discussion, they examine innovations driving digital identity including blockchain, offline verification of identity, anonCreds, privacy-protecting technology, linked secrets, and zero knowledge proofs.
The Innovation Pushing Digital Identity Forward: Part 1

The Innovation Pushing Digital Identity Forward: Part 1

Stephen Curran, Chair of the Board Of Trustees Sovrin Foundation, Identity Consultant, speaks with Andrew Smith, RTGS.global, in FinextraTV’s Tech Uncovered Series, discussing digital identity, covering the topics of self-sovereign identity (SSI) and Sovrin, verifiable credentials (VCs), the use of blockchain for identity, scalability of blockchain-based identity, and resilience.
The long read
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Madhvi Mavadiya

How can digital trust be built amid global unrest and uncertainty in Europe?

Madhvi Mavadiya - Finextra Research
Discussion
NatWest compiles Celebrity Scam Super League table
Steve Ellis

Steve Ellis

  Its not rocket science but I like this story from NatWest (everyone likes a league table). All banks need to up their game in turning scams, phishing and other security risks into accessible, popular topics of conversation among mainstream audiences. Communicating risks or dangers is counter-intuitive for banks but is the best way to educate consumers to better protect themselves.

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Two-thirds of all online shopping scams now start on Facebook and Instagram
Ketharaman Swaminathan

Ketharaman Swaminathan

  Kudos to banks for pushing back on the "Drunk Under Lamp Post" regulation used in APP Scam so far. As I wrote in Fraud v Scam: Who Is Liable For Cybercrime, there are many parties involved in these scams, so it's highly biased and prejudicial to singularly hold banks culpable for them. Either hold the consumer responsible beyond a point as I recommended in Three Strike Rule To Eliminate Cybercrime or, if that's too unpopulist a move for politicians to make, distribute the responsibility among social networks, mobile handset manufacturer, MNO, electric utility, and every other party that let the scam happen.

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Dark web study reveals Brits are Europe's biggest card fraud victims
A Finextra Member

A Finextra member

  Open banking backside? 

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UK financial fraud hits £1.2bn but APP losses dip
A Finextra Member

A Finextra member

  I wonder how much good the teams at 1. Scammer payback, 2. Kitboga, 3. Nanobaiter, 4.Jim Browning, and 5. Wefightfraud.org    many of these are building strong and entertaining presence on Youtube.... this is one way that Social Media is able to help in the fight against fraud.   These channels should be publicised, they are self funding in many cases, using the social media platforms that can be part of the problem.  A relatively small amount of advertising spend or the placement of entertaining Infomercials in the spaces scammers work (Dating/Tech-Refund scams etc) will pay huge dividends... and can highlight real world fraud methodologies in a simple to understand format.... hopefully NOT triples all-round for Scammers this year!

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Featured
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Australian banks launch Fraud Reporting Exchange

Australian banks launch Fraud Reporting Exchange

Sweden's BankID launches digital identity card

Sweden's BankID launches digital identity card

FS giants prep for cyber defence exercise

FS giants prep for cyber defence exercise

Mastercard acquires Swedish cyber-security firm Baffin Bay

Mastercard acquires Swedish cyber-security firm Baffin Bay

The long read
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Anna Roughley

APP scams – are you protected?

Anna Roughley - Head of Insight and Support, LSB
Elsewhere...

  1. BBC

    On the hunt for the businessmen behind a billion-dollar scam

  2. Silicon

    Italy bans ChatGPT over personal data risk

  3. Fortune

    JPMorgan is the unlucky owner of the fake nickel uncovered by the London Metal Exchange—really just bags of rocks

  4. BBC

    Thousands may have lost out to crypto trading app

  5. Oversharing

    I loved Monzo, until I got robbed in Berlin

The long read
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Sehrish Alikhan

Lovelorn and conned: Don't give your heart to a fraudster this Valentine's

Sehrish Alikhan - Editorial Assistant, Finextra