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Ransomware attacks in financial institutions “increased significantly” in 2021 – and most are from Russia
A report released by FinCEN (the US Financial Crimes Enforcement Network) this week has revealed a significant uptick in the number of ransomware attacks reported by financial institutions in the second half of 2021, most of which are believed to be coming from Russia.
EBA makes Fraud Taxonomy publicly available
In a bid to help financial institutions keep up with developments in payments system fraud, the EBA has made the latest version of its fraud taxonomy publicly available.
Lebanon bank heists: a closer look
People in Lebanon are “robbing” banks to withdraw their own money in a spate of heists carried out by angry and desperate Lebanese citizens in recent weeks.
Consumer Duty: what to expect
The Consumer Duty is a regulatory reform implemented by the UK’s Financial Conduct Authority. Finalised in July 2022, the guidance is designed to ensure firms deliver good outcomes for their retail customers and act in their best interests at all times.
UK Government launches fraud and money laundering crackdown
The new Economic Crime and Corporate Transparency Bill will focus on tightening rules around registering a company in the UK, with the hope of reducing fraud and money laundering via the use of shell companies.
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