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Industry News: ESG5

Cyber Criminals Hacked into Sackler Heir’s Emails and Took £1m from Bank

2019-06-27

Standard: A member of the philanthropic Sackler dynasty fell victim to cyber criminals who hacked into his email account in an attempt to steal more than £3 million. Michael Daniel Sackler, a film producer, was targeted in January 2015 when fraudsters took control of his emails and made a string of bogus payment requests to his bank.The thieves mocked-up false invoices with their own bank details, making three transfers totalling £1.3 million out of Mr Sackler’s account...

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Police Arrest 6 in $28 Million Cryptocurrency Fraud Probe

2019-06-26

Bank Info Security: Six suspects have been arrested as part of an international police investigation tracing the theft of at least $28 million worth of bitcoin cryptocurrency. Police allege that the fraudsters created look-alike sites for the Blockchain.com cryptocurrency exchange - and perhaps others - and tricked users into visiting them by making fraudulent Google Adwords buys that led Google search users to the spoofed sites...

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Monetary Authority of Singapore and UK Financial Authorities Announce Collaboration on Cyber Security

2019-06-13

BankOfEngland: The Monetary Authority of Singapore (MAS), the Bank of England and the Financial Conduct Authority announced today that they will be working together to strengthen cyber security in their financial sectors. MAS and the UK financial authorities will commence work towards a Memorandum of Understanding to signify this enhanced collaboration. The collaboration will involve MAS and the UK financial authorities identifying effective ways to share information and exploring potential for staff exchanges. As hosts to global financial centres and FinTech firms, Singapore and the UK have much to benefit from enhanced collaboration on cyber security...

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Conman who Scammed £113m in UK’s Biggest Cyber Fraud ‘has Spent £3m on Harrods Shopping Sprees

2019-05-01

TheSun: THE mastermind behind Britain's biggest ever cyber scam splurged £3m on Harrods shopping sprees, parties with popstars and luxury holidays to Dubai, a court heard. Feezan Hameed Choudhary, 28, was jailed for 11 years in 2016 for leading a "vishing" fraud which conned 750 RBS and Lloyds customers out of £113m. "Vishing" or "voice phishing" is a type of phone fraud in which the scammer manipulates the victim into sharing private financial information which can then be used to make cash transfers...

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UK Cyber-Security Efforts Criticised by Audit Office

2019-03-15

BBC: The warning came in a National Audit Office (NAO) assessment of the UK's national cyber-defence plan. The government is increasingly worried that these essential sectors will be targeted by foreign states seeking to disrupt UK life. Modern life was now "totally dependent" on cyber-security, said one expert...

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Bank of England to Test Banks' Resilience to Cyber Attacks

2019-03-05

Euronews: LONDON (Reuters) - Britain's banks will have to show they could recover from a cyber attack within hours to avoid customer payments being delayed to the next day, the Bank of England said on Tuesday. The BoE said it would hold a pilot cyber stress test of lenders mid-2019 but individual results won't be published...

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