Citigroup Inc. said US banks will be forced into a “dramatic shift” in how electronic payments are processed if New York state wins a lawsuit claiming the company doesn’t do enough to prevent online fraud. Lawyers for the company’s Citibank …
Euro zone banks have “room for improvement” in their cyber security, starting with how they would keep their business running after a hack, the European Central Bank said on Friday. The ECB’s first ever cyber risk stress test was launched …
Morgan Stanley has filed for court approval of a $60 million settlement of a class action stemming from two data breaches in July 2020 that the complaint alleges compromised the information of 15 million of the investment bank’s customers. The …
A top U.S. banking regulator is cautioning firms to ensure they have robust policies to protect themselves from cyberattacks, saying it is seeing an uptick in ransomware attacks, it said in a report issued Monday. The Office of the Comptroller …
The European Central Bank (ECB) shut down one of its websites on Thursday after it was hacked and infected with malicious software. The ECB said no market-sensitive data had been compromised during the attack on its Banks’ Integrated Reporting Dictionary …
U.S. banks are facing a growing threat from cyber attackers and making defense against them more complex by relying on third-party firms for support, according to a report released Thursday by Joseph Otting, the Trump administration appointee who took over …
U.S. bank regulators last Wednesday outlined cyber security standards meant to protect financial markets and consumers from online attacks against the nation’s leading financial firms. Leading banks will be expected to use the most sophisticated anti-hacking tools on the market …
