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The Federal Reserve will lend a hand to Bangladesh's central bank as it sues to recoup losses from one of the world's largest cyber heists, even while the Philippine bank targeted by the lawsuit on Friday called it baseless and beyond U.S. jurisdiction. 
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UK financial institutions and payment processors should collaborate on the creation of a national digital identity scheme to face down the threat posed by money laundering and payments-related financial crime, according to a new report published by the Emerging Payments Association (EPA).
Vineet Anand's insight:
EPA calls for national digital id to plug increase in financial crime.Â
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German payments enabler Wirecard has hit back at allegations in the Financial Times of false accounting at the company, a claim which resulted in a 25% plunge in the company's share price.
Vineet Anand's insight:
FT news report rebuffed by Wirecard results in 25% share price plunge!Â
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India’s largest bank has secured an unprotected server that allowed anyone to access financial information on millions of its customers, like bank balances and recent transactions. The server, hosted in a regional Mumbai-based data center, stored two months of data from SBI Quick, a text mess…
Vineet Anand's insight:
SBI Quick unprotected sever exposed data on return messages!Â
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A teenage hacker who knocked out Commonwealth Bank of Australia's online services as part of a cyber-campaign against a host of websites has avoide
Vineet Anand's insight:
New security threat - "bored" teenager brings down CBA online services with DDoS attacks and has avoided conviction pleading guilty!
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Target Corp has agreed to pay $39.4 million to resolve claims by banks and credit unions that said they lost money because of the retailer's late 2013 data breach.
Vineet Anand's insight:
2013 breach that lead to 40 million cards compromised and 110 million may have personal information theft has costed Target $290 million. Recent settlement of $39.4 million covers banks, credits unions and MasterCard card issuers!
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Finextra: A 15-year-old boy has been arrested in Northern Ireland in connection with the hack on mobile operator TalkTalk, which put the banking details of millions of people at risk.
Vineet Anand's insight:
Northern Ireland mobile operator TalkTalk hacked with over million customer banking details by 15 year old seeking ransom!
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Finextra: MasterCard has brought its Safety Net technology, which taps into the card giant's global network to help protect banks and payment processors from hackers, to Europe.
Vineet Anand's insight:
Enrolled issuers in Europe can take advantage of MC Safety Net tool to identify potential fraud in real-time. Visa offers a similar service in partnership with FireEye for merchants and issuers!
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Finextra: In the latest in a series of high profile data breaches, credit referencing agency Experian says hackers accessed its servers and stole the personal details of 15 million prospective T-Mobile customers.
Vineet Anand's insight:
National Security Agency, I hope realizes that such lapses in SSN might have a solution in tokenizing SSN leaving the same last 4 numbers for verification but tokenizing the rest 5 digits!
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Finextra: The American Bankers Association, the lobby group that has taken a leading role in lambasting retailers over lax data security, has admitted that email addresses and passwords used to make purchases or register for events through its online shopping cart have been compromised.
Vineet Anand's insight:
Ironic yet true right on the heels of FXCM and Experian hacking during the National Cybersecurity Awareness month!
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
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