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PSD2 and Europe’s Open Banking Mandate – a PCM report
In a new report, PSD2 and Europe’s Open Banking Mandate, we aim to analyse the implications of the revised Payment Services Directive, PSD2, for the European banking industry and Open Banking challenges both for banks and FinTechs. The adoption of the revised Payment Services Directive (PSD2) is formalising the relationship between Banks and FinTechs by establishing [...]
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Taiwanese Bank bank loses $60m in Swift malware attack
Almost $60 million has been stolen from Far Eastern International Bank in Taiwan using a Swift malware attack last week, with funds being routed to accounts in Cambodia, Sri Lanka and the United States, Taiwanese state-owned news agency Central News Agency reports. The bank reportedly detected the suspicious transactions Tuesday and has been able to recover some [...]
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Global websites hacked to allow crypto-currencies to be mined
Hackers have managed to install code on the sites that uses visitors’ computers to “mine” the crypto-currencies. School, charities and file-sharing websites have been caught out by scammers who are using them to generate the crypto-cash. One scan of the most popular websites found hundreds harbouring the malicious mining code. By getting lots of computers [...]
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An elaborate ATM threat crops up: Network-based ATM malware attacks
Infecting automated teller machines (ATMs) with malware (ATM malware) is nothing new. It’s concerning, yes. But new? Not really. We’ve been seeing physical attacks against ATMs since 2009. By physical, we mean opening the target machine’s casing, accessing the motherboard and connecting USB drives or CD-ROMs in order to infect the operating system. Once infected, the [...]
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Mastercard launch Early Detection System to combat card fraud after data breaches
It can now take as little as 9 minutes for stolen card and account data to be used via the dark web. With this in mind, Mastercard has announced the launch of Early Detection System, a new service that provides banks with a unique advanced alert for high-risk cards and accounts that are exposed in [...]
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