Agan Uzunovic reports: The cyber war between Armenians and Azerbaijani hackers is never ending — Like in this recent cyber attack in which the Armenian hackers leaked trove of data containing banking details of Azerbaijani citizens. In July 2, 2015, Armenian hackers from Monte Melkonian Cyber Army hacked into the official website of Azerbaijani customs, stealing highly confidential personal information of 5650 Azerbaijani…
Category: Financial Sector
Data Security & Privacy Concerns for the Indian Banking Industry
Ratan Jyoti, Chief Manager (Information Security), Vijaya bank, writes: … In last year or two, there has been a sudden spurt in data theft in Indian banks. It is estimated that Indian Banks are directly losing a significant part of their income due to data theft. In terms of reported incidents, the figure of loss…
Insurer moves to dismiss BitPay’s lawsuit
In September, it was reported that BitPay was suing its insurer, Massachusetts Bay Insurance Company, for reimbursement of $1.8M funds lost in a phishing attack in December 2014. Now the insurance company has moved to dismiss the suit. Stan Higgins reports: However, in a 17th November court filing, MBIC has stated that it believes it was justified in…
New York Department of Financial Services Previews Rigorous Cybersecurity Rules for Financial Sector
H. Deen Kaplan, Harriet Pearson, Timothy Tobin, and Stephanie Handler write: On November 9, 2015, Anthony Albanese, Acting Superintendent of the New York State Department of Financial Services (NYDFS), issued a letter to a wide array of federal and state financial services regulators that are part of the Financial and Banking Information Infrastructure Committee (FBIIC)….
UK: IFA pulls clients from Ascentric after ‘terrible’ data breach
Charles Walmsley reports: Sussex-based Prosperity IFA director Simon Munday is set to pull his clients from the Ascentric platform after a technology error allowed one of his clients to access another adviser’s client portfolios. Munday (pictured) has 129 clients with around £10 million of assets under advice on the platform but will move them onto other…
UK: Nutmeg customers caught in data breach
Ruth Gilbe reports: Personal data including names, addresses and investment details of dozens of customers of Nutmeg were accidentally emailed to the wrong people following a system glitch. In a report by FTAdviser’s parent paper the Financial Times, Nutmeg said due to a fault with the code running its service, the company had emailed more than…