SWIFT and Microsoft Join Forces for a POC Software giant Microsoft and financial messaging cooperative SWIFT are taking a major step forward in making Microsoft’s Azure cloud computing service the host for native payments, officials announced at SWIFT’s SIBOS conference underway this week in Sydney, Australia. The two companies acknowledged that they have been working… Read More >>
SWIFT Moves to Allay Fears over Cyber-Attacks
SWIFT is hoping to allay fears across its network with a new five-point program after three hacking incidents. The aim is not only to tighten its own defenses but ensure that its members are also reinforcing security within their own walls. Over the past year, the Belgium non-profit cooperative group has been indirectly involved in… Read More >>
House Committee to Probe Cyber-Attacks on U.S. Federal Reserve
A key committee of the U.S. House of Representatives will be probing approximately 50 alleged security breaches of the Federal Reserve between 2011 and last year. Lamar Smith (R-Texas), the chairman of the House Committee on Science, Space, and Technology, and Barry Loudermilk (R-Ga.), the chairman of the Oversight Subcommittee have reach out to U.S…. Read More >>
Q&A: How Big Data Became an Ally for AML
Big Data and other innovations are rapidly becoming new allies in the multiple fronts in the war on financial crime, says Gisselle Micheo, vice president of the Business Solutions Group (BSG) for the Americas at BAE Systems Applied Intelligence. BAE, known for its defense and security equipment offerings, is also focusing on helping firms deal… Read More >>
Responding to the Cyber-Crime Monster
As financial services firms contemplate their responses to the growing cyber-security threat, it’s clear they can’t take on this monster alone. The problem requires a global response to show perpetrators that the industry is seriously taking on cyber-crime. On an individual level, banks such as JP Morgan, Citigroup, Bank of America Merrill Lynch and the… Read More >>
Ops Risk and Compliance in an Age of Scandal
Operational risk and compliance staffs are surely on alert after federal prosecutors charged SAC Capital Advisors with criminal acts of fraud. This growing scandal closely follows the CFTC’s monetary penalties and one-year trading ban for high frequency trading firm Panther Energy Trading, which allegedly used algorithms to place buy orders and then swiftly cancel them to… Read More >>
