Attack database required for the ‘advanced model’ of Basel II rules. UK banks are compiling databases of the hacker attacks they have suffered, to comply with regulations that force financial institutions to be more open about their operations. The new Basel II international banking regulations require finance providers to reveal company information to allow insurers and auditors to assess the risks in their business. Companies that do not provide adequate details will have to set aside 20 per cent of their sales to cover any losses, or be prevented from trading. Full Story
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