From PayBefore: The European Banking Authority (EBA) working with the European Central Bank (ECB) recently released a consultation paper on guidelines for payment service providers (PSPs) to follow in the event of security breaches. Among the suggested mandates is notifying authorities of an incident within two hours from the moment the breach is detected—that’s significantly faster than…
Category: Financial Sector
HK: Dozens of bank staff arrested over bribery-linked data leak
Esther Yu reports: Nearly 30 people have been arrested over allegations of bribery in order to obtain confidential customer information for loan business sales purposes, the Independent Commission Against Corruption said. Among the 29 people held after the graftbusters launched operation “Mirabilis” were three managers and 18 serving and former direct sales representatives of a…
Bank of Russia disclaims reports hackers steal 2B rubles from its correspondent accounts
The Bank of Russia (central bank) has disclaimed the reports hackers stole two billion rubles ($30.8 million) from its correspondent accounts. “The reports about stolen two billion rubles from the Bank of Russia’s correspondent accounts in a hacker attack are not true to life,” the regulator’s press service told TASS on Saturday. “The review of…
Your VISA Credit Card Can Be Hacked In Just Six Seconds: Study
Press Trust of India reports: It may take as little as six seconds for hackers to guess your credit or debit card number, expiry date and security code, say scientists who were able to circumvent all security features meant to protect online payments from fraud. Exposing the flaws in the VISA payment system, researchers from…
Russian central bank says bank account hacked in $45 million cyber heist
Andrei Ostroukh reports Hackers broke into accounts at the Russian central bank earlier this year by faking a client’s credentials and attempted to steal $45 million, the bank said in a report released on Friday. The bank said it managed to recover some of that amount—$26 million—but it did not say if that meant the…
Blackmailers target customers of hacked Liechtenstein bank: paper
John Miller and Farah Master report: Customers of a Chinese-owned Liechtenstein bank are being told by unknown blackmailers they must pay a portion of their savings or face having account details sent to finance authorities and the media, a German newspaper reported on Sunday. Those targeted have accounts at Valartis Bank Liechtenstein, located in the…