There was a huge rise in cybercrime last year which helped overall UK fraud break through the £1 billion barrier for the first time in five years. According to KPMG’s Fraud Barometer, cybercrime rose a whopping 1266% last year to £124 million, taking the total value of fraud to £1.1 billion. KPMG’s Fraud Barometer measures […]

More than half of organizations have failed to begin any work on meeting minimum General Data Protection Regulation (GDPR) compliance, according to a study conducted by Vanson Bourne. Intended to harmonize data security, retention and governance legislation across European Union (EU) member states, GDPR requires greater oversight of where and how sensitive data—including personal, credit […]

Five months after the release of the Panama Papers, a new, searchable database of 1.3 million files leaked from the company register of the Bahamas to German newspaper Süddeutsche Zeitung has ‘brought to light details of the financial interests of politicians, entrepreneurs, financiers – and fraudsters.” The new information reveals previously unknown or little-reported connections […]

On 22 September 2016, the FCA published a speech (dated 21 September 2016) by Nausicaa Delfas, FCA Director of Specialist Supervision, on the FCA’s supervisory approach to cyber security in financial services firms. In her speech, Ms Delfas emphasises that cyber security be a shared interest and responsibility for firms and the FCA. The FCA […]

Blockchain technology has the potential to: streamline and accelerate business processes, increase cybersecurity and reduce or eliminate the roles of trusted intermediaries (or centralised authorities) in industry after industry. The blockchain reaction will pull in different industries at different times with differing levels of disruption, bringing both opportunity and risk. Understanding the nature of that […]