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Category: Financial Sector

Attorney General James Directs Unregistered Crypto Lending Platforms to Cease Operations In New York, Announces Additional Investigations

Posted on October 19, 2021 by Dissent

NEW YORK – New York Attorney General Letitia James today announced new efforts she is taking to protect New York investors, and the trading markets more generally, from exploitation by high-risk virtual currency schemes. Virtual or “crypto” currency lending platforms are essentially interest-bearing accounts that offer investors a rate of return on virtual currencies that…

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Cyberattack shuts down Ecuador’s largest bank, Banco Pichincha

Posted on October 13, 2021 by Dissent

Lawrence Abrams reports: Ecuador’s largest private bank Banco Pichincha has suffered a cyberattack that disrupted operations and taken the ATM and online banking portal offline. The cyberattack occurred over the weekend, causing the bank to shut down portions of their network to prevent the attack’s spread to other systems. Read more on BleepingComputer.

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Barclays Hacked by Cyberthieves Using Monzo Account, PISP

Posted on October 4, 2021 by Dissent

PYMNTS reports: Millions of pounds were swiped from Barclays accounts in a series of coordinated cyberattacks by a fraudster using a Monzo account and a payments initiation service provider (PISP), The Telegraph reported. PISPs are a newer concept, introduced by the revised European Payment Services Directive (PSD2), and give retail customers the ability to pay companies directly…

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Millions of South Africans caught up in security incident after debt recovery firm suffers ‘significant data breach’

Posted on September 24, 2021 by Dissent

Jessica Haworth has more details on a breach previously reported on this site. More than a million South African citizens have potentially had their personal data exposed after a ransomware attack at a debt recovery services firm. The company in question, Debt-IN Consultants, confirmed this week (September 22) that it had been the victim of a cyber-attack which resulted in a…

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NZ: Reserve Bank hit with compliance notice from Privacy Commissioner over data breach

Posted on September 23, 2021 by Dissent

Chris Keall reports: The Reserve Bank has suffered the ignominy of being the first organisation to be hit by a compliance notice under the new Privacy Act, which came into force in December last year. Privacy Commissioner John Edwards says an independent review carried out by KPMG after a December 2020 cyber attack “revealed multiple…

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African Bank warns of data breach with personal details compromised

Posted on September 23, 2021 by Dissent

BusinessTech reports: African Bank has confirmed that one of its appointed professional debt recovery partners, Debt-IN, was targeted by cybercriminals in April 2021. At the time, expert security advice concluded that there was no evidence that the ransomware attack had resulted in a data breach – however, Debt-IN is now aware that the personal data…

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