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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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High-profile GDPR fines “having greatest impact” on UK cyber security spend

Research conducted by data security company Clearswift has highlighted that the recent large General Data Protection Regulation (GDPR)-centric fines levied against enterprise giants British Airways (BA) and Marriott International have had something of a ripple effect on...
Posted On 28 Aug 2019
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Global study of financial sector shows deep concern about third party cyber risk

BitSight and the Centre for Financial Professionals (CeFPro) have released a joint study shedding light on how financial institutions are addressing challenges associated with third party cyber risk. Based on a survey of financial services professionals from around the world, the...
Posted On 02 Apr 2019
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Whistle-blower reports submitted to FCA rise by 24% in 13 months to hit 1,755 mark

BDO LLP states that the total number of whistle-blower reports to the Financial Conduct Authority (FCA) has risen by 24% in the last year to attain an overall figure of 1,755 for the year ending 31 December 2018. That’s up from 1,420 in 2017. There was a 105% increase in...
Posted On 04 Mar 2019
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Home Secretary and Chancellor to chair Task Force aimed at tackling economic crime

Home Secretary Sajid Javid and Chancellor Philip Hammond are jointly chairing a new Government-led Task Force which will work with senior figures from the UK’s financial sector to tackle economic crime. The enormous scale of this type of crime – which includes fraud,...
Posted On 14 Jan 2019
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Cyber attacks and IT outages posing “main threats” to supply chains asserts BCI report

Cyber attacks and data breaches (49%) are the most concerning challenges for professionals both over the next 12 months and the upcoming five years. That’s according to the 2018 Supply Chain Resilience Report published by the Business Continuity Institute (BCI) in...
Posted On 07 Nov 2018
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HID Global acquires Crossmatch in bid to expand biometric identity management offer

HID Global, the trusted identity solutions specialist, has acquired Crossmatch, a leader in the field of biometric identity management and secure authentication solutions, from Francisco Partners. Crossmatch’s portfolio of products includes biometric identity management hardware...
Posted On 24 Sep 2018
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FFA UK’s latest industry statistics show financial fraud losses totalling £768.8 million in 2016

Financial fraud losses across payment cards, remote banking and cheques totalled £768.8 million in 2016, the latest figures from Financial Fraud Action (FFA) UK highlight. This represents an increase of 2% on the previous year. The new data also outlines the fact that banks and...
Posted On 30 Mar 2017
New and creative ideas to make policing more effective are to be encouraged through changes to the Police Innovation Fund
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Home Office instigates key changes to Police Innovation Fund for 2016-2017

“New and creative ideas” designed to “make policing more effective” are to be encouraged through changes to the Police Innovation Fund, policing minister Mike Penning has announced via the Home Office. This year, the multi-million pound fund will consider...
Posted On 26 Oct 2015
Nick Burnham: new role at Siemens Building Technologies
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Nick Burnham joins Siemens Building Technologies as head of solution sales

Nick Burnham is the newly-appointed head of sales for solutions at Siemens Building Technologies, joining the business from the Siemens Energy Management Division. Burnham’s previous role as the director of the company’s transformer business means that he brings a...
Posted On 02 Sep 2015
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