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Jailed managers ordered to pay back £560,000 to NHS in wake of procurement fraud

Three managers (one NHS employee and two contractors) who were imprisoned last year for fraud and are still behind bars have been ordered by the courts to pay back over £560,000 to the NHS. This follows a financial investigation by the NHS Counter Fraud Service (NHS CFS) Wales...
Posted On 02 Oct 2019
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Banking industry halts £4.5 million of fraud per day in first half of 2019

The finance industry prevented £820 million of unauthorised fraud in the first half of 2019, which is up 14% on the previous year. That’s according to the latest figures from UK Finance. This is equivalent to £2 in every £3 of attempted unauthorised fraud being stopped, o...
Posted On 26 Sep 2019
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HSBC GTRF introduces “industry-leading” financial crime detection systems

HSBC’s Global Trade and Receivables Finance (GTRF) business has deployed an industry-leading anti-money laundering (AML) system and an automated sanctions checking system as part of its ongoing efforts to improve financial crime detection. In what’s an industry first,...
Posted On 26 Sep 2019
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First threat assessment for universities produced by National Cyber Security Centre

The threats facing the UK’s world-leading universities and the steps they can take to protect themselves are outlined in a new report from the National Cyber Security Centre (NCSC). The NCSC’s threat assessment aims to raise awareness of state-sponsored espionage targeting...
Posted On 24 Sep 2019
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‘KYC’ compliance costing banks €50 million per annum as financial sanctions soar

A typical European bank serving ten million customers could save up to €10 million annually and avoid growing fines by the regulator by implementing technology to improve the ‘Know Your Customer’ (KYC) processes. That’s according to new research from Mitek and Consult...
Posted On 03 Sep 2019
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Security contract with Accenture provides cyber protection boost for NHS estate

The NHS will now receive “free-to-adopt, world-class” perimeter security services thanks to NHS Digital signing a contract with Accenture. These new services will build on the current offer from the Data Security Centre so that NHS organisations will be able to better...
Posted On 12 Aug 2019
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European Banking Federation joins Europol’s ‘No More Ransom’ campaign

The European Banking Federation together with its member bank associations has joined the ‘No More Ransom’ campaign, a public-private project launched in 2016 offering free decryption tools for ransomware victims and awareness material. Ransomware is a type of malware...
Posted On 26 Jul 2019
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Government makes plans to safeguard future security of UK’s telecoms sector

Digital Secretary Jeremy Wright has set out plans to improve security standards and practices across the UK’s telecoms sector, including in new 5G and full-fibre broadband networks. The Government’s proposals include new legislation to enforce stronger security requirements...
Posted On 25 Jul 2019
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22% of banks in UK “not taking advantage” of FCA-approved background checks

BDO has stated that banks are concerned any failures during their due diligence process may potentially expose them to huge Anti-Money Laundering (AML) fines even if the process is fully compliant. Concerns over money laundering penalties mean that 22% of banks in the UK are...
Posted On 24 Jul 2019
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ARC Training International focuses on oil and gas sector security training

There are few industries that require an in-depth understanding of security management as much as the oil and gas sector. Personal safety aside, the risks of theft, terrorism, environmental damage and reputational impact are some very real problems which can have devastating...
Posted On 05 Jul 2019