08 Aug 2022

Hackers Exploit Hostinger’s Preview Domain Feature to Launch Phishing Campaigns

A team of security researchers from CloudSEK has reportedly discovered a new phishing technique being leveraged by threat actors to target banking customers in India. The phishing campaign is operating via preview domains from the hosting provider Hostinger. The feature allows access to a certain site before it is accessible

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03 Aug 2022

Will DeFi mark the beginning of the end of centralised finance, or mark its value?

Defy. To openly resist. DeFi. The contraction commonly used for decentralised finance. The buzzword used to describe the financial ecosystem getting plenty of mainstream traction sounds similar to the verb used to describe a refusal to obey. And from the outset, DeFi has been all about a defiance of the established hierarchy

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27 Apr 2022

Majority of banks paid ransom for cyberattacks last year

Cloud computing company VMware says its most recent report has found a drastic increase of destructive cyberattacks, with 74% of businesses interviewed experiencing one or more ransomware attacks in the last year. Its report, 2022 Modern Bank Heist, is an annual look into the experiences of top financial and security leaders

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08 Apr 2022

SSRF Flaw in Fintech Platform Allowed for Compromise of Bank Accounts

Salt Security has discovered a vulnerability that lies in the API already integrated into several of bank systems. The flaw could have the potential too, or has already, defrauded millions of users through offering attackers access to their funds. The vulnerability pertains to a server-side request forgery (SSRF) flaw in

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21 Mar 2022

Russian banks are so broke the biggest lender just got the go-ahead to issue digital assets like crypto

The impact of sanctions and the collapse of the Russian ruble after the invasion of Ukraine has some Russian banks turning to the crypto market for a boost. Like the biggest one. That is Sberbank, Russia’s largest lender, which just received a license from the central bank to issue digital assets to

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02 Mar 2022

Russian cyber attacks against US banks increasing: sources

Russia appears to have officially declared cyberwar on the US, taking what’s been described as preliminary steps at crippling its banking system and possibly other major industries, The Post has learned. The Biden administration has been working with bank executives for months about preparing for cyberattacks as retaliation over US sanctions. The

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01 Mar 2022

U.S. banks prepare for cyber attacks after latest Russia sanctions

U.S. banks are preparing for retaliatory cyber attacks after Western nations slapped a raft of stringent sanctions on Russia for invading Ukraine, cyber experts and executives said. Tensions between Russia and the West escalated on Saturday as the United States and its allies moved to block some Russian banks from the

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23 Feb 2022

Why are smart contracts the smart choice for financial services?

In an age of rapid digitalisation, accelerated by the COVID-19 outbreak in 2020, “smart contracts” are seen by many as a building block in the development of a more efficient and more automated financial services sector. In this series, we will look at the use cases of smart contracts in

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22 Feb 2022

DeFi explained: What is decentralised finance and could it be a death sentence for banks?

DeFi, short for decentralized finance, is another buzzword that has entered our lexicon, joining the likes of Bitcoin, cryptocurrency, NFTs, blockchain and the metaverse. So, what is it? Today, most of the financial transactions in the economy are digital. We’re still using banknotes and coins on occasions but it’s marginal. It’s a

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16 Feb 2022

JPMorgan Is the First Bank Into the Metaverse, Looks at Business Opportunities

JPMorgan, the largest bank in the U.S., said it has become the first lender to arrive in the metaverse, having opened a lounge in Decentraland, a virtual world based on blockchain technology. As well as the unveiling of the Onyx lounge (the name refers to the bank’s suite of permissioned Ethereum-based

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