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A Swift cyber-attack, similar to one that saw $81m (£56m) stolen from Bangladesh’s central bank, has reportedly hit a second bank. The warning about the second attack came from Swift, which oversees the financial messaging network that underpins global money transfers. Swift said the target was a commercial bank but did not name the organisation [...]

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Everything changed on 6 August 1991 when the first webpage was launched. Nearly 25 years on, we look at the state of cyber crime, the battle between cyber attackers and defenders, and the implications for the payments industry. Back in March 1989, a CERN employee wrote a proposal about the “management of general information based [...]

The post Cyber crime and disorder online: tip of the iceberg? appeared first on Payments Cards & Mobile.

After a series of high-profile hacking attacks, many companies are considering more aggressive tactics to fight back against cyber crime, including “active defence” strategies. The most controversial is “hacking back” against cyber criminals, which is against US law and, according to several bank officials, a bad idea because of the difficulty in definitively identifying culprits. [...]

The post The economics of hacking appeared first on Payments Cards & Mobile.

Banking bosses say that a cyber attack is among their biggest fears, with nearly 80% of chief executives of financial services firms worrying about this potential risk. But five months after the world’s biggest bank raid – where cyber criminals stole £650m from financial firms around the world – is the FS sector doing enough [...]

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