The Dutch Authority for the Financial Markets (AFM) and the monetary authority, De Nederlandsche Bank (DNB), are in the midst of a profound supervisory transformation fuelled by the rapid development of artificial intelligence (AI). While technological advances are driving a wave of innovation in the financial and security industries, these supervisory bodies face significant challenges […]
CIO interview: Belinda Finch, CIO, IFS
Technology changes fast and tech jobs are changing just as rapidly, according to Belinda Finch, CIO at enterprise technology company IFS. Finch joined IFS late last year from mobile company Three, where she led Three’s digital transformation and helped to drive system developments to support customer experience as CIO. She has also held senior leadership […]
Lords to challenge controversial DWP benefits bank account surveillance powers
Members of the House of Lords are pressing for changes to legislation that will give the Department for Work and Pensions (DWP) new powers to require banks to monitor the accounts of every person who receives benefit payments, including the state pension. The government claims financial surveillance powers in the Data Protection and Digital Information […]
International police operation infiltrates LabHost phishing website used by thousands of criminals
Police have shut down a web service used by more than 2,000 criminals worldwide to launch and manage phishing attacks. The Metropolitan Police worked with police forces from 19 countries to disrupt the world’s largest phishing-as-a-service platform, known as LabHost. Law enforcement agencies made 37 arrests worldwide after searching over 70 addresses, with UK arrests […]
Security Think Tank: Ransomware lessons from the armed forces
Coming from a military intelligence background, focusing on the financing of terrorist groups, I saw the power of the dollar over bad actors. A dollar removed from their back pocket, or to that end, in the pocket of others, sometimes had more of an effect than a bomb or a bullet. If we can influence […]
Which? calls for government action on fake banking sites
Thousands of fraudulent websites that appear to be those of the UK’s largest retail banks – but are, of course, nothing of the kind – are being reported every year. More than 2,000 such copycats were seen in 2023, with Barclays and Santander the most frequently spoofed. This is according to consumer watchdog Which?, which […]
Nationwide building society falls victim to IT outage
Nationwide building society is recovering from an IT outage that caused significant difficulties for customers over a period of several hours, with account holders reporting problems making purchases and sending and receiving payments, including making mortgage payments and receiving salaries. The organisation, which on Thursday 21 March confirmed it had reached a formal agreement to […]
Nationwide IT infrastructure poised to absorb Virgin Money
Nationwide’s proposed takeover of Virgin Money could see a company that has gone through multiple technology integrations in recent years integrated into a well-established digital strategy. Nationwide plotted its future technology in 2008, when it announced an initial £1bn investment in IT to create a foundation for the future. Over the same period, Virgin Money […]
Dutch organisations vulnerable to deepfake fraud
Dutch companies are vulnerable to deepfake digital fraud due to the country’s high level of digitisation and working from home. Ali Niknam, CEO of Dutch digital bank bunq, recently reported that an employee received a video call from him with an urgent request to transfer a hefty amount of money. “I must admit, I was […]
IT leaders dial back cloud-first strategies as hybrid IT becomes more of an investment priority
Cloud-first IT strategies seem to be falling out of favour with technology decision-makers and business leaders, suggests data from the TechTarget/ESG 2024 Technology Spending Intentions study. More than 1,400 technology decision-makers and business leaders participated in the study, which aims to shine a light on the IT investment priorities of enterprises around the world over […]