Articles about bank

A quarter of banks' data breaches are down to lost phones and laptops

One in four breaches (25.3 per cent) in the US financial services sector over recent years were due to lost or stolen devices, according to a new study. Cloud security firm Bitglass further reports that one in five recorded breaches over the last 10 years were the result of hacking. More than 60 financial sector organisations …
John Leyden, 25 Aug 2016

UAE InvestBank 'hack' looks like stale, recycled data from last year

Hackers linked to the Qatar National Bank (QNB) breach have leaked data siphoned from the UAE’s InvestBank. A database containing credit card details and passport scans has leaked online by the same Turkish hacker crew – Bozkurt Hackers – who were also blamed for the QNB breach. However, early reports suggest that the latest …
John Leyden, 10 May 2016

Irish mum coughs to children's allowance fiddle

An Irish mother has been given until October to repay the balance of €15,618 in children's allowance payments which she claimed while working for Microsoft in Australia. Clodagh Logue, 42, pleaded guilty at Dublin District Court to an offence under the Social Welfare Consolidation Act, the Irish Independent reports. The court …
Clodagh Doyle, 21 Apr 2016

Aluminum-wrapped robbers fail to foil bank

It's a tip of the tinfoil hat today to the two Brazilian blaggers who attempted to do over a bank last Saturday while wrapped in aluminium foil. According to O Globo, the pair hoped a metallic cladding would screen them from alarm sensors as they forced their way into the branch of Banco do Brasil, in Praia Grande, São Paulo …
Lester Haines, 11 Apr 2016
Night scene of bank station in central london

Open APIs for UK banking: It's happening, people

On Tuesday, an industry-led group published a new framework for supporting the use of open APIs in the banking sector. The UK Treasury is keen for banks to open up access to the data they hold on customers to other businesses to encourage innovation and boost competition in the sector. It tasked an industry-led Open Banking …
OUT-LAW.COM, 10 Feb 2016
Switch

Outage outrage: Banks need clear targets for improving IT systems

Banks should be set "clear objectives and targets" on improving the performance of their IT systems in light of a number of recent major outages, the chairman of a prominent UK parliamentary committee has said. In letters to Andrew Bailey, chief executive of the Prudential Regulation Authority (PRA), and Tracey McDermott, …
OUT-LAW.COM, 27 Jan 2016
£10 notes. Pic: Howard Lake

Bank fined £1m after outsourcing faults led to improper transfers

The Prudential Regulatory Authority (PRA) has fined a bank more than £1 million after finding that faults with its outsourcing arrangements helped rogue employees at a third party service provider to move money out of its bank accounts without its knowledge or consent and put the bank's own financial health at risk. Faults in …
OUT-LAW.COM, 3 Dec 2015
Skip full of rubbish outside an office building. Photo via SHUTTERSTOCK

Deutsche Bank's creaking IT systems nervously eyeing bins

Deutsche Bank is the latest financial institution to announce plans to rip out its creaking IT, according to reports. According to the Financial Times, John Cryan, the new boss of Deutsche Bank, is determined to overhaul the creaking computer systems that he blames for its woes. It follows a major management restructure last …
Kat Hall, 27 Oct 2015
Facepalm

Attempted bank robber demands cash transfer ... to his own account

A wannabe bank robber has been jailed after ditching the traditional "hand over the cash" approach in favour of asking for money to be transferred into his bank account. According to the Ashford Herald, master crim Paul Neaverson, 61, walked into a NatWest tentacle in Rainham, Kent, held a knife to a cashier's neck and – since …
Lester Haines, 14 Sep 2015

Spaniard trousers €60,000 bank error, proceeds directly to jail

A Spanish chap whose bank accidentally deposited €60,000 in his account did what any right-minded customer in his position would have done: he immediately trousered as much cash as possible and then refused to hand it back. The unexpected windfall had been intended for another customer, but dropped into the lap of a 50-year- …
Lester Haines, 4 Sep 2015
Kitten on the run

RBS sticks it to customers once again as IT woes continue

RBS customers are continuing feel the fall-out from the bank's IT disaster last week which led to 600,000 customer transactions going missing, The Register can reveal. While outstanding payments now appear to have been restored to users' accounts, some customers are reporting on-going issues when attempting to switch from RBS …
Kat Hall, 23 Jun 2015
atm_teaser_648

It's OK – this was an entirely NEW type of cockup, says RBS

The NatWest and RBS IT cock-up that caused 600,000 transactions to go missing this week was entirely unrelated to the 2012 mega IT cock-up, the bank has said in an not-too-reassuring update. In a webcast about the Royal Bank of Scotland's IT strategy today, Simon McNamara, chief administrative officer, said: "It is different …
Kat Hall, 18 Jun 2015

NatWest and RBS' mobile banking apps go TITSUP

UPDATE RBS and NatWest customers have been left unable to access their accounts via the banks' mobile apps. In an identically-worded tweet both banks said this morning: "We're sorry if you're having trouble getting into Mobile Banking, we're working hard to resolve the issue. Thank you for your patience." NatWest and RBS are …
Kat Hall, 20 Apr 2015
Bitcoin bloodbath

Bitcoin trade biz MyCoin goes dark, investors fear $387 MEEELLION lost

Investors fear they may be $387m (£254m) in the red after a Hong Kong Bitcoin biz fell silent. The investment and trading website MyCoin reportedly closed its Kowloon offices a few weeks ago, and the company has not yet responded to inquiries from The Reg and other publications. According to the South China Morning Post, …
Shaun Nichols, 10 Feb 2015
Reckless Getaway

Osborne ponders giving fleeing bank customers an API getaway car

Banks will have to use standardised application programming interfaces (APIs) to make it easier for customers to move their accounts to rival services, the British government has said. In his Autumn Statement last week, Chancellor George Osborne announced that the government would launch a "call for evidence" on "how to …
OUT-LAW.COM, 8 Dec 2014
Night scene of bank station in central london

London police chief: City bankers, prepare for a terrorist cyber attack. Again

+Comment Western financial institutions should prepare themselves for cyber attacks from Islamic militants, the head of the City of London police warns. Commissioner Adrian Leppard urged preparations ought to be put at hand during a security conference in New York. According to the FT, he singled Islamic State of Iraq and the Levant ( …
John Leyden, 19 Nov 2014

Revealed: Malware that forces weak ATMs to spit out 'ALL THE CASH'

Video Thieves are sneaking malware dubbed Tyupkin into ATMs to force them to cough millions of dollars, we're told. The crims don't need to use stolen or cloned cards. Instead, fraudsters infect the ATM's on-board PC, and later type a special combination of digits on the PIN keypad to drain the machine of banknotes – that's …
John Leyden, 8 Oct 2014
Alistair Darling and Alex Salmond debate Scottish independence

Scottish independence: Will it really TEAR the HEART from IT firms?

Scots may vote to leave the United Kingdom, ending a union lasting 307 years, on 18 September. Until a few weeks ago, the referendum on independence looked like an easy win for those wanting to stay in the union - or to use the parlance of the campaign, "no" voters. But a surge in support has put those planning to vote "yes" …
SA Mathieson, 11 Sep 2014

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