Search Results for: financial institutions
SWIFT Discloses More Cyber Thefts
August 31st, 2016
SWIFT, the global financial messaging system, on Tuesday disclosed new hacking attacks on its member banks as it pressured them to comply with security procedures instituted after February’s high-profile $81 million heist at Bangladesh Bank. In a private letter ...
Authorities pledge support, to issue rules for fintech
August 31st, 2016
Financial regulators are readying rules that will target financial technology businesses without limiting their room for growth as President Joko “Jokowi” Widodo pledges support for the infant industry. “I urge all parties to participate in fintech, IT and financial ...
Innotribe and Innovate Finance launch Global FinTech Hubs Federation initiative
August 29th, 2016
Innotribe, SWIFT’s innovation arm, and Innovate Finance, the independent membership organisation for global FinTech, today announced the launch of the Global FinTech Hubs Federation (GFHF) to help foster innovation across the world’s financial services industry. To date, more than ...
MAS establishes FinTech Innovation Lab
August 26th, 2016
The Monetary Authority of Singapore (MAS) today announced the opening of its FinTech Innovation Lab. The purpose-built facility, known as Looking Glass @ MAS1, is located within the MAS Building. Looking Glass @ MAS will serve the following purposes: ...
Many Reporting Entities Unprepared For FATCA
August 24th, 2016
New research shows that financial institutions are generally confident about meeting existing and incoming automatic exchange of information obligations. However, the study also found that a significant proportion of the industry is facing higher costs and risking fines by ...
UBS’ blockchain chief is leaving
August 18th, 2016
The man leading UBS’ exploration of blockchain and cryptocurrency technologies is leaving the bank, according to an internal memo seen by Business Insider. Alex Batlin is leaving “to pursue an opportunity outside of UBS” the memo written by UBS’ ...
Fitch: Negative-Yielding Sov Debt in Japan Down, Europe Up
August 11th, 2016
The global stock of negative-yielding sovereign debt fell modestly to $11.4 trillion as of August 2, compared with $11.5 trillion on July 15, according to Fitch Ratings. Japanese yields moved higher in late July in response to the latest ...
Barclays reaches $100M Libor settlement
August 9th, 2016
Barclays Bank PLC (BCS) has agreed to pay $100 million to settle allegations that its manipulation of a global financial benchmark defrauded government entities and non-profit groups across the U.S. Announced Monday, the settlement includes $93.35 million for restitution to victimized groups that agree to opt in and issue releases ...
JPMorgan to use computerized technology in dealer to dealer market
August 4th, 2016
Three-year deal is for the dealer-to-dealer Treasury market Virtu is one of the world’s biggest electronic trading firms JPMorgan Chase & Co. will use a computerized trading firm’s technology to access and trade in the U.S. Treasury market, marking ...
Israeli Man Charged With Operating FOREX Ponzi Scheme
August 4th, 2016
Preet Bharara, the United States Attorney for the Southern District of New York, and Diego Rodriguez, the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today that FADI EWIESS, a/k/a “Fadi ...
