Cryptocurrency


Banks’ cyber resilience requires ongoing review against escalating threats

The news last month (June) that the Luuuk malware had snared its first victim, an unnamed European bank, has again highlighted the magnitude of the challenge facing the banking sector. While the reported theft of €500,000 during the course of a week certainly does not break any records, the discovery of what is believed to be a variant of the feared Zeus malware, is just the latest in a line of increasingly sophisticated cyber attacks

Financial services in the firing line for cyber-attacks says ex-CIA chief

“The fastest growing national security threat facing the [US], which also happens to face the financial services industry, is cyber-espionage, cyber-crime and cyber-terrorism” according to a former deputy and acting director of the Central Intelligence Agency, speaking at the SifmaTech conference in New York.

Tokenisation may offer antidote to soaring cyber crime epidemic

As the number of cybercrime incidents increases, financial institutions and their corporate customers should take renewed steps to protect their data – including using tokenisation and hosted payments pages, according to a new report by Chase Paymentech.

Breaking bit

Bitcoin is the poster child of the cryptocurrency world, but it’s not alone. Michael Mainelli and Bob McDowell take a look at the real-world implications of the rise of AltCoins

Bitcoin: the indestructible currency?

Despite the high profile media scandals surrounding the demise of the Mt Gox exchange and the Silk Road trading website, Bitcoin is evolving rapidly and will soon present a better, more stable and accountable alternative to the fiat currencies most of us trust and use every day, according to Mark Lamb, chief executive of London-based Bitcoin exchange Coinfloor.

How many sides can you put on a coin?

There are two sides to every coin, but with Bitcoin those sides simply could not be farther apart. Its promise is extraordinary: for those afraid of inflation, it is gold redux, while for those who hate exchange rates, it is a way to pay internationally. For merchants it is a way of avoiding high transaction fees and for former Presidential hopeful Ron Paul, it is the destruction of the US Dollar.

Four steps for denying DDoS attacks

Financial institutions have been battling waves of large distributed denial of service attacks since early 2012. Many of these attacks have been the work of a group called the Qassam Cyber Fighters, which until recently posted weekly updates on Pastebin about the reasons behind its attacks.

One law for the rich, another for …

for a growing number of people, wary of the debasing of currencies through quantitative easing, alternatives such as Bitcoin are becoming more popular.

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