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Articles about Financial Institutions

The Register breaking news

Amazon, eBay, banks snub anti-fraud DNS tech, sniff securo bods

Despite the best attempts of security vendors, neither online stores nor the financial industry seem particularly keen to adopt DNSSEC tech - an anti-fraud mechanism that makes it difficult for fraudsters to spoof legitimate websites. DNSSEC (DNS Security Extensions) uses public-key encryption and authentication to guard against …
John Leyden, 18 Feb 2013
The Register breaking news

South Korean TV and banks paralysed in disk-wipe cyber-blitz

Banks and TV stations in South Korea have been hit by a debilitating attack on their computer networks. Three financial institutions - Shinhan, Nonghyup and Jeju - and two insurance firms as well as broadcasters KBS, MBC and YTN have either been partially or completely crippled by malware, it appears, according to South Korean …
John Leyden, 20 Mar 2013
The Register breaking news

iPhone 5 imperilled by Sharp's 'huge' problems with tellies

Japanese electronics firm Sharp has warned that it might not be able to keep going as a company, a situation that could put pressure on supply of iPhone 5s. Sharp's consumer electronics division is dragging it down and growth in its components business won't be enough to save it on its own, financial results show. "As operating …
SOURCE: http://www.sxc.hu/photo/959469

Five charged as Feds bust largest credit-card hack in history

Federal prosecutors in New Jersey say they've busted what could be the biggest credit card hacking fraud in US history, with companies such as NASDAQ, 7-Eleven, and Dow Jones falling prey to an Eastern European criminal gang. According to the indictment, the gang stole data on up to 160 million credit cards and then sold them on …
Iain Thomson, 26 Jul 2013
Flag Romania

Romanian phisher confesses to scam targeting financial giants

A Romanian man has admitted he took part in a sophisticated phishing scam that targeted PayPal and at least nine other financial institutions by tricking their customers into giving up their account credentials. Ovidiu-Ionut Nicola-Roman, 22, of Craiova, Romania, pleaded guilty in federal court in Bridgeport, Connecticut, on …
Dan Goodin, 23 Jul 2008
The Register breaking news

Nextgen connects data centres for cloud boom

The rise of cloud based services and data centre proliferation has prompted Nextgen Networks to launch a premium grade transmission service connecting nominated data centres in mainland capital cities. Offering up to 10 Gbps, the Data Centre Connect service is available on Ethernet, SDH or Fibre Channel interfaces. Nextgen says …

Raised £350bn in crowdsourced funding? Tell me about it (not)

His Girl Friday, All The President’s Men, Pravda, Broadcast News... As a journalist, I ought to be thrilled by reading books and watching dramatisations about other journalists being journalists and generally going about doing their journalisming. Yet there are few things in popular media as forlorn as a journalist talking about …
Alistair Dabbs, 28 Mar 2014

Ballmer: 'Microsoft would have a stronger position if I could redo the last TEN YEARS'

This was the week when MtGox finally admitted that it had probably lost all its Bitcoin investors' money, although it refused to give any definitive statements. The one-time top digital currency exchange said on its website: At the start of February 2014, illegal access through the abuse of a bug in the bitcoin system resulted …
MasterCard's DisplayCard includes a hard token one-time password generator

Singaporeans get hard token baked into credit card

Two-factor authentication just got a whole lot more convenient for residents of Singapore, after Standard Chartered Bank's local outfit teamed with MasterCard to offer account-holders a credit card that is also a one-time-password-generating hard token. MasterCard calls the device a 'Display Card' and says it includes “an …
Simon Sharwood, 08 Nov 2012
The Register breaking news

Banking IT cowboys 'need whipping into shape by watchdog'

The technology underpinning the UK's financial services sector needs urgent investment if regulators are to be able to spot potential abuses and prevent future financial crises, an influential report has claimed. Intellect, the trade association for the UK technology sector, said in its report (62-page/5MB PDF) that banks should …
OUT-LAW.COM, 09 Aug 2012
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MiFID: Financial borders fall but small firms must beware

Pan-European regulation of large sections of the financial services sector comes into force today, but the benefits of the system will largely pass smaller firms by, according to the British Banking Association (BBA). The Markets in Financial Instruments Directive (MiFID) is a European Union directive aimed at allowing financial …
OUT-LAW.COM, 02 Nov 2007
The launch explosion, captured in a Sea Launch video

Inquiry ordered after phone exchange blaze

The Australian government has launched an inquiry into the communications collapse that ensued after a fire engulfed a pivotal Telstra exchange last week. The fire wiped out communications for a large portion of South Western Victoria at Telstra’s Warrnambool telephone exchange hub, leaving over 60,000 residents without fixed …
The Register breaking news

South Korea data-wipe malware spread by patching system

South Korea's data wiping malware that knocked out PCs at TV stations and banks earlier this week may have been introduced through compromised corporate patching systems. Several South Korean financial institutions - Shinhan Bank, Nonghyup Bank and Jeju Bank - and TV broadcaster networks were impacted by a destructive virus ( …
John Leyden, 25 Mar 2013

Windows XP is finally DEAD, right? Er, not quite. Here's what to do if you're stuck with it

Today will be like no other day because it’s the last Patch Tuesday for Windows XP. Yet there's good news if you're still using XP. For starters, you're not alone. Thirteen years after it was released, Windows XP remains the world’s second most popular PC operating system. It's running on 27.69 per cent of consumer machines, …
Gavin Clarke, 08 Apr 2014
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TSYS dials Dimension Data for financial support

Dimension Data and payment services firm TSYS have teamed up to target financial institutions in Europe, the Middle East, and Asia with improved managed services. Dimension Data's call centre subsidary Merchants will support TSYS' managed services division to provide back-office, cross-selling, and up-selling functions to card …
The Register breaking news

New 'Madi' cyber-espionage campaign targets Iran AND Israel

Security researchers have discovered a new cyber-espionage campaign targeting victims in the Middle East. Kaspersky Lab and Seculert identified more than 800 victims located in Iran, Israel, Afghanistan and elsewhere in the course of monitoring control servers associated with cyber/espionage operation over the last eight months …
John Leyden, 17 Jul 2012
The Register breaking news

Facebook IPOcalypse cases: One lawsuit to end them All

The 57 different cases against Facebook or the NASDAQ over the free-content ad firm's disastrous IPO have all been mashed up into one uber-lawsuit to be heard in New York. The technical glitches that marred the first day of Facebook's stock trading have been blamed by many for the share's low prices, sparking class action suits …
The Register breaking news

FTC settles spying charges on rent-to-own computers

The US Federal Trade Commission (FTC) has settled a case against a software vendor and seven rent-to-own PC sellers over charges that they illegally spied on customers. According to the settlement, software company DesignerWare sold an application for sellers of rent-to-own PCs that would enable them to brick computers that were …
Iain Thomson, 26 Sep 2012
The Register breaking news

Muslim vid protest hackers turn web-flood hosepipe away from US banks

Islamist hackers busy blasting bank websites with network traffic have suspended their assault after a controversial anti-Muslim video ceased to be available through YouTube. The Izz ad-Din al-Qassam Cyber Fighters crew launched a series of distributed denial-of-service (DDoS) attacks in September and December, with the stated …
John Leyden, 30 Jan 2013
The Register breaking news

DDoS crooks: Do you want us to blitz those phone lines too?

Cybercrooks are now offering to launch cyberattacks against telecom services, with prices starting at just $20 a day. Distributed denial of attacks against websites or web services have been going on for many years. Attacks that swamped telecoms services are a much more recent innovation, first starting around 2010. While DDoS …
John Leyden, 02 Aug 2012
Apple iPhone 4s smartphone

Good Tech: Apple dominates mobile enterprise

Apple CEO Tim Cook said this week he wants to get more iPads into big business. The latest figures from enterprise gadget management software company Good suggests it's already happening. Good's RIM-rivalling software comprises a client component that is activated from a company's servers. Good said the iPhone 4S accounted for …
Tony Smith, 26 Apr 2012
Flag Romania

Australian cops bust Romanian credit card thieves

Australia's Federal Police (AFP) has triumphantly announced it has brought a gang of Romanian credit card fraudsters to heel, but not before the criminals purloined half a million credit card numbers from small Australian retailers. Detective superintendent Brad Marden, the AFP's national co-ordinator for cybercrime operations, …
Simon Sharwood, 29 Nov 2012
management mobile6

The irresistible rise of the corporate app

The rise of the corporate app is due to both fashion and user demand. Once upon a time there were programs. Today they are called apps. The big difference is that apps are fashionable, and fashion drives a lot of what even sane IT types do. So much so that even the Windows Phone has settings in the control panel for “company …
Simon Rockman, 08 Jul 2013
The Register breaking news

If you see 'URGENT tax rebate download' in an inbox, kill it with fire

FireEye has put together a list of the most common words and phrases that appear in fake emails designed to infect corporate networks and steal data. The security firm said that the list spotlights the social engineering techniques that feature as a key component of so-called spear phishing attacks. Hackers tend to use words …
John Leyden, 26 Sep 2012
The Register breaking news

'Self-aware' bank account robbing code unleashed by hacker

A hacker has published code for potent cross-site scripting attacks that he claims go beyond the usual cookie stealing and phishing for users' private details. Cross-site scripting (XSS) flaws allow attackers to present content under their control in the context of a vulnerable yet trusted site, thus tricking marks into handing …
John Leyden, 16 Dec 2011
The Register breaking news

Automated bank scam 'Operation High Roller' stole from the rich

Security researchers have uncovered a sophisticated, multi-tiered financial fraud ring that may have defrauded businesses, wealthy individuals and banks of tens of millions of dollars. Operation High Roller bypasses multi-factor authentication technology employed by banks to attempt fraudulent transactions of &euro,60 million ($ …
John Leyden, 27 Jun 2012
Cloud Storage arrays

Just how solid is cloud storage in 2014

Searching the Reg' for "Cloud + Storage" mentions in 2013 gets you 44 pages of results. So let's take it as read that it's a hot topic. We're not bothering with private clouds here; they're enterprise IT re-branded, re-tooled and re-priced but they are still private enterprise IT resources. No, it's the public cloud, accessed …
Chris Mellor, 06 Feb 2014
The Register breaking news

Amazon cloud hosts nasty banking trojan

Amazon's cloud storage service has been caught hosting services used to control the notorious SpyEye banking trojan, researchers said. Data compiled by antivirus provider Kaspersky Lab over a 11-day period in July showed Amazon's Simple Storage Service being used regularly to host SpyEye command and control channels. The botnet …
Dan Goodin, 29 Jul 2011
The Register breaking news

SpyEye banking trojan: now with SMS hijacking capability

The SpyEye banking trojan has acquired the ability to reroute one-time passwords sent to victims' cellphones, a measure that bypasses protections more and more financial institutions are adopting. According to a blog post published Wednesday by a researcher from security firm Trusteer, SpyEye was recently observed trying to …
Dan Goodin, 06 Oct 2011
The Register breaking news

SEC: 'Man tried to sell $500bn investments on LinkedIn'

US regulators have charged a financial advisor with trying to sell $500bn of fake securities on LinkedIn, amid warnings to investors and advisory firms about the risks of buying through social networks. The Securities and Exchange Commission (SEC) alleges [PDF] that Illinois-based Anthony Fields offered hundreds of billions of …
The Register breaking news

MasterCard beds Everything Everywhere for exclusive pay-by-bonk

MasterCard has signed an exclusive deal to develop a pay-by-wave platform for Everything Everywhere over the next half decade – hopefully one with greater impact than the existing QuickTap service. The first product of the deal will be a co-branded payment platform, using Near Field Communications (NFC) to facilitate pay-by-bonk …
Bill Ray, 28 Aug 2012
The Register breaking news

NewSat seeks $AU36m to get into orbit

Australian satellite communications company NewSat is raising $AU36 million to help accelerate its pending satellite launch, pay suppliers and strengthen its balance sheet. NewSat's Jabiru-1 geostationary communications satellite will provide high capacity to military, defence and government markets as well as other enterprise …
The Register breaking news

Crowd-pleasing study in capitalism conspiracy controversy

In what many took to be fodder for the capitalism-is-a-conspiracy theorists, boffins have claimed that about 150 companies, mostly banks, are controlling the majority of the economic power. It's the sort of statement that many have made in the wake of the global financial crisis and during the ongoing anti-capitalist protests in …

iPhone to account for half of US economy by 2030 - projection

Strange, terrible, yet curiously inevitable news today - the day before iPhone 5 day. Analysis based on figures from hefty Wall Street brains appears to show that the Jesus Phone is set to account for a large chunk - perhaps the majority - of US economic activity within a matter of decades. The Register's elite economic …
Team Register, 11 Sep 2012
The Register breaking news

'Nervous' London bankers run mock cyberattack exercise

London banks are taking part in a simulated cyberattack exercise on Tuesday designed to test the resilience of the UK's financial service industry to a collapse of telecoms systems and Olympics-related transport disruption. The exercise is occurring against the real world backdrop of the Occupy the City protestors, camped …
John Leyden, 22 Nov 2011

RBS Mainframe Meltdown: A year on, the fallout is still coming

A year ago, RBS experienced its Chernobyl moment – an incident when a case of simple human error by those running critical systems resulted in a crisis. IT staff badly botched routine maintenance of the IBM mainframe handling millions of customers' accounts – a system processing 20 million transactions a day. The mistake was …
Gavin Clarke, 21 Jun 2013
The Register breaking news

Proview snatched from liquidators' jaws to pursue iPad fight

Ailing monitor biz Proview has a green light to pursue its long-running dispute with Apple over the IPAD trademark after a Shenzhen court rejected a request from one of its creditors to liquidate the company. China Daily reported that Fubon Insurance failed in its bid to claw back some of the money it pumped into Proview …
Phil Muncaster, 02 Apr 2012
The Register breaking news

ZeuS trojan attacks bank's 2-factor authentication

A variant of the ZeuS banking trojan is targeting mobile phone users who rely on their handsets to get enhanced, two-factor authentication from ING Bank Slaski in Poland, a security blogger said on Monday. The ZeuS man-in-the-mobile attacks appear to similar to those that hit Spain in September, researchers from antivirus …
Dan Goodin, 22 Feb 2011
An original member of the System/360 family announced in 1964, the Model 50 was the most powerful unit in the medium price range.

Why won't you DIE? IBM's S/360 and its legacy at 50

IBM's System 360 mainframe, celebrating its 50th anniversary on Monday, was more than a just another computer. The S/360 changed IBM just as it changed computing and the technology industry. The digital computers that were to become known as mainframes were already being sold by companies during the 1950s and 1960s - so the S/ …
Gavin Clarke, 07 Apr 2014
The Register breaking news

US gov blames Iran for cyberattacks on American banks

Denial-of-service attacks against US banks' web systems were the work of Iran rather than Islamic activists, says a former American government official. A group called the Izz ad-Din al-Qassam Cyber Fighters claimed responsibility for two waves of cyber-attacks against US banks including US Bancorp, Bank of America, Citigroup, …
John Leyden, 09 Jan 2013
Lawscot cheque 15.6.03

Cheques not checking out just yet

Electronic payments surging, but cheques not about to bounce Electronic payments are replacing the humble cheque, but not so fast that the descendants of the promisory note are irrelevant or should be hustled towards a hastened retirement. That’s the conclusion of the Australian Payments Clearing Association’s (APCA’s) new …
Simon Sharwood, 15 May 2012
The Register breaking news

Free Android apps often secretly make calls, use the camera

Freebie mobile applications come with a higher privacy and security risk, according to an 18-month long study by Juniper Networks. The networking giant ran an audit of 1.7 million applications on the Android market and discovered that free applications are five times more likely to track user location and a whopping 314 per cent …
John Leyden, 01 Nov 2012

Australia bets on licences for offshore gambling websites

Australian policymakers may have gotten themselves in another technological tangle, this time over which mediums are fit for the purpose of gambling. The source of the brawl is a review of Australia’s Interactive Gambling Act commissioned by the sprawling Ministry of Broadband, Communications and the Digital Economy. The …
Simon Sharwood, 31 May 2012
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Clouds overshadow 'shrinking' UK server market

The UK server market is forecast to shrink next year as the corporate refresh nears it end of cycle and more SMEs turn to cloud computing instead of buying hardware. This is the view of the landscape in 2012 according to the number-crunchers at IDC, which downgraded previous estimates of a 2.1 per cent revenue decline for the …
Paul Kunert, 27 Sep 2011
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Dell engulfs security provider to Fortune 500

Dell has bought SecureWorks which provides a variety of security and compliance services to customers including 85 of the Fortune 500 companies and many banks and financial institutions. The company offers threat assessment and managed security for large and medium-sized companies. SecureWorks, started in 1999, employs 700 …
John Oates, 04 Jan 2011
The Register breaking news

Phishing, cybersquatting scum could ruin gTLD fun for biz

Businesses face extra costs and risks because of new internet domains, but the publication of a list of newly applied-for domains will not allow them to calculate those risks precisely, an expert has said. Last summer directors at the Internet Corporation for Assigned Names and Numbers (ICANN), which is the body that oversees …
OUT-LAW.COM, 15 Jun 2012

Privacy lawsuits: Will sueballs lobbed at US cloud services hit you where it HURTS?

Thinking of using US cloud services, outsourcing to a US-based provider or just leasing a piece of their cloud and concerned about lawsuits? Here's some food for thought. Privacy, of course, became the overarching concern of many after former US National Security Agency sysadmin Edward Snowden leaked documents about the country' …
Trevor Pott, 13 Sep 2013
The Register breaking news

IT consultant gets 5 years for plundering $2m

A contractor who provided IT administration services to banks was sentenced to more than five years in prison this week after admitting he used his insider knowledge to plunder some $2m from four financial institutions. Zeldon Thomas Morris, 43, was ordered to serve 63 months in federal prison and pay restitution of a little …
Dan Goodin, 30 Apr 2010
The Register breaking news

Zeus baddies unleash nasty new bank Trojan

Hackers have created a new version of the Zeus crimeware toolkit that's designed to swipe bank login details of Spanish, German, UK and US banks. The malware payload, described by CA as Zeus version 3, is far more selective in the banks it targets. Previous versions targeted financial institutions around the world while the …
John Leyden, 13 Jul 2010
The Register breaking news

Crims prefer old exploits: Microsoft

While media around the world are excited by the announcement of every new zero-day vulnerabilities, attackers yawn, according to Microsoft. Presenting Volume 11 of its Security Intelligence Report at the RSA Conference in Europe on October 11, Microsoft pointed out that less than one percent of the attacks its report identified …