40,000 Accounts of Top UK Bank Breached, China Approves Cyber Law to Counter Threats
Around 40,000 accounts of a top British bank have reportedly observed suspicious transactions over the past weekend, with money withdrawn from 20,000 accounts over a 24 hour period. Meanwhile, China has adopted new cyber security measures “to counter growing threats such as hacking and terrorism.” Tesco Bank has halted online payments for current account customers, in response to the hackings, and the bank's Chief Executive Benny Higgins told the BBC he was "very hopeful" customers would be refunded the money within 24 hours. There have been complaints about money being withdrawn....
Related News
Reuters has reported that the Philippine central bank is becoming a big proponent for cyber security and may soon regulate Bitcoin operators located within the region. Philippine Central Bank says Cyber Security is a Focus. A senior official told press that banks need better defenses after the wake of the recent SWIFT and Federal Reserve breaches.....
Earlier this week it was revealed that e-commerce giant eBay fell victim to a sophisticated cyber attack and that its use database had been breached. In the days following the attack a curious Pastebin posting appeared online, offering to sell eBay's breached database for 1.45BTC. However, eBay insists the database on sale is not authentic. The hack. The security breach has been described as one of the biggest cyber attacks of its kind in history. More than 230 million buyers and sellers have an account with eBay and the company is asking all of them to change their passwords. The number....
Chinese bitcoin exchange BTC China has stopped accepting RMB deposits to user accounts from a major bank, revealing the move in a post on its Weibo page. Management decided to proactively halt deposits from one of the country's largest banks, China Merchants Bank, after the bank posted on its public website that it would no longer allow its customers to engage in bitcoin-related transactions, and said essentially it would require all such businesses to close their accounts. Withdrawals to China Merchants Bank accounts and transactions with other banks remain unaffected, at least for the....
US Regulators are scrutinizing the Swift payment network in light of the recent heists which have taken place. That is not a complete surprise, as there is plenty of cause for concern. Things have gotten so dire; the US regulators have warned banks about more imminent threats to their cyber security. Ever since the various Swift breaches became public knowledge, there has been a lot of concern among financial regulators. Albeit the hackers used smaller banks to gain access to the Swift network, regulators feel the interbank protocol is no longer safe. Swift Is Not Adequately Protecting Its....
The Central Bank of Philippine is in the process of making few regulatory changes to combat money laundering and cyber attacks. The Philippines may soon introduce bitcoin regulations as the country’s central bank decides to tighten its screws around money laundering. The bank is also focused on improving the security of the cyber infrastructure. The South East Asian country of Philippines has suddenly decided to go hard on the money transfer and remittance businesses in the country. The sudden crackdown seems to be connected with the recent report published by Reuters and Fortune which....