Royal Bank of Scotland customers found themselves unable to use debit or credit cards on the busiest shopping day of the year. Ross McEwan, who took over as CEO this year, apologized. He acknowledged the bank had failed for decades to invest properly in its systems and that it was working to set this right.
New York financial regulators have surveyed more than 200 banks and other financial institutions...
The Nasdaq shut down trading on one of its options markets Friday, the latest technical problem...
Eight men have been arrested on suspicion of stealing 1.3 million pounds ($2 million) from a Barclays bank branch by tapping into its computers, British police said Friday. The gang is accused of installing a KVM device, or keyboard video mouse, on the bank's computer system that allowed it to carry out the cyber theft.
London police said Friday they arrested 12 men involved in a bold attempt to take control of a bank's computer in order to rob the institution. The men are accused of tampering with a computer inside a Santander bank branch to seize control of the bank's computer systems.
The latest high-tech disruption in the financial markets increases the pressure on Nasdaq and other electronic exchanges to take steps to avoid future breakdowns and manage them better if they do occur. The three-hour trading outage on the Nasdaq stock exchange Thursday also can be expected to trigger new rounds of regulatory scrutiny on computer-driven trading.
A mysterious glitch halted trading on the Nasdaq for three hours Thursday in the latest major electronic breakdown on Wall Street, embarrassing the stock exchange that hosts the biggest names in technology, including Apple, Microsoft and Google.
Four Russian nationals and a Ukrainian have been charged with running a sophisticated hacking organization that over seven years penetrated computer networks of more than a dozen major American and international corporations, stealing and selling at least 160 million credit and debit card numbers, resulting in losses of hundreds of millions of dollars.
It's a war game, Wall Street style. Banks large and small are girding for an elaborate drill this week that will test how they would fare if hackers unleashed a powerful and coordinated attack against them.
BAE Systems Detica Named Category Leader In Enterprise Fraud Management Solutions For Financial ServicesMay 28, 2013 8:10 am | News | Comments
BAE Systems' Detica NetReveal® solution has been positioned a Category Leader in the Enterprise Fraud Management Solutions 2013 RiskTech Quadrant(1) from Chartis. Financial crime is a growing area of concern for financial institutions with new threats continuously emerging. The rise of mobile and internet channels coupled with the harsh economic climate means that fraud is on the increase.
Some on Wall Street shrugged off the outage. "I don't think it is too big of a deal if it's a one day thing. If it keeps happening, of course, that's different," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research.
Rentsys Recovery Services, a provider of comprehensive disaster recovery solutions for banks, credit unions, mortgage lenders and other organizations, announced the launch of its new Customer On-Boarding Process. The on-boarding process was designed to prepare financial institutions for a more efficient recovery following a disaster and to prepare for an audit.
German police say robbers dug a 30-meter (100-foot) tunnel into the safe deposit room of a Berlin bank and escaped with their haul, setting a fire as they left to cover their tracks. Berlin police spokesman Thomas Neuendorf says the tunnel led from an underground garage into the bank's safe deposit room.
Redstone Federal Credit Union’s Redstone Consulting Group & Fusion Risk Management Announce Strategic Alliance To Deliver Continuity Risk Management Services To Credit Unions & Community BanksNovember 5, 2012 10:39 am | News | Comments
Redstone Consulting Group and Fusion Risk Management will begin offering enterprise resilience management services and software centered on business continuity, crisis management and IT disaster recovery. Offerings will leverage proven capabilities implemented at Redstone Federal Credit Union.
American Enterprise Bank operates a total of two branches with approximately $199 million in assets. The bank made the strategic decision to outsource critical components of its IT infrastructure and began gradually moving systems into a hosted environment.
The Centurion Hosted High Availability service is operated from a secure facility in Branson, Mo., dubbed the "Mountain." Previously a dolomite rock mine, this hardened two million square foot facility is located 175 feet below ground and virtually impervious to natural disasters including hurricanes, floods, and tornados.
Knight Capital Group said the problem was triggered when it installed new trading software, which resulted in the company sending numerous erroneous orders in 140 stocks listed in the New York Stock Exchange. Those orders were behind some sudden swings in stock price.
A British banking group says it has almost fully cleared up a weeklong banking glitch which delayed posting credits and debits to millions of customers with its NatWest and Royal Bank of Scotland accounts.
A search on the Merrill Lynch website reveals a page publicizing the company's business continuity efforts, including the existence of business continuity plans. It is unclear why these plans were not provided to FINRA.
Continuity Insights New York is the long-awaited return of a dedicated business continuity event to the Northeast. Commissioner Jerome Hauer from the New York State Department of Homeland Security and Commissioner Joseph Bruno from the New York City Office of Emergency Management will open the event with a plenary session on The State of Preparedness.
Kelly McDonough, President/CEO of First Alliance Credit Union, talks about how to scare your C-level executives into supporting your BCM program, how credit unions do more with less, the “end point” for business continuity, and why cloud will make businesses and families more resilient.
A top Saudi banking official on Tuesday denied an Israeli media report that hackers from Israel obtained credit card and bank account details of thousands of Saudi citizens, retaliating for an attack on Israeli accounts.
The goal of the bank's Financial Policy Committee "is to insure as far as possible we make the U.K. financial system resilient."
The Rentsys QUICKBranch includes cash vault, teller stations, quick-deploy satellite and a stand-alone portable generator.
I hope the stories out of northern Alabama inspire you to look at how business continuity tools can be used to add value to the products and/or services you deliver.
A focus on employee safety and customer service helped two companies recover after tornadoes devastated northern Alabama.
In order to recover from an unforeseen event, people, processes, and systems must work together to restore business operations. This session will discuss how to integrate your business resumption and disaster recovery plan to produce a true end ...
Learn how one large organization standardized response teams down to the department level to help the incident management team better coordinate and manage recovery events. By driving changes within each plan, and supporting theses changes with ...
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