The Swiss group’s revelation of a US$100m loss at its South Korean subsidiary could be just one example of “a ticking time bomb”, claims Bottomline Technologies.
A study of consumers across 20 countries found only three where more than half those surveyed trusted merchants’ ability to protect their data.
Internet-connected home devices are increasingly at risk from hackers and criminals, who can use them to launch distributed denial of service (DDoS) attacks that take websites and services offline.
The European Union is expected to respond to the growing number of cyberattacks launched against banks by testing their defences.
A concerted global effort is vital in maintaining efforts to combat financial crime. Will momentum be lost after the political shocks of 2016?
The final settlement with the US Justice Department to settle litigation related to mortgage-backed securities sales compares with the US$14bn mooted last September.
The UK aerospace group agreed a settlement with authorities in the US, US and Brazil.
The sixth annual ‘risk barometer’ issued by insurer Allianz also finds that cyber risk has risen to become one of the top three corporate concerns globally.
Global fines relating to anti-cartel activity rose by 28% last year, with the EU pushing the figure higher.
If they have not already begun their preparations for the introduction of the Payment Services Directive, European banks will need to make it a priority task this year.