UK launches register of overseas property owners in clampdown on ‘corrupt elites’ August 1, 2022 Individuals that own UK properties via chains of “secretive” shell companies will from today be forced to reveal their true identities, after the UK government launched a new register of UK property owners today. The first-of-its-kind register will require those seeking to buy or own UK property via offshore entities to list the identities of [...]
Exclusive: Surge in fraud and scams sends shivers through the City’s financial services space July 19, 2022 Close to half of Londoners believe the financial services industry is more vulnerable to fraud and scams than ever before. And for good reason. The mobile identity company is prompting calls for FS businesses to improve customer trust by introducing stronger security measures and supporting customers by raising awareness of the procedures already in place. [...]
Darktrace hikes profit margin forecast on bumper customer growth July 19, 2022 Cybersecurity giant Darktrace hiked its full-year profit margin forecast to 19.5 per cent today as it said it expected a surge in revenues to $417m for the year to June.
Lawyers should stop telling clients to pay ransoms to hackers, UK watchdogs say July 12, 2022 Lawyers should not advise their clients to pay out ransoms to hackers, the UK’s data protection watchdog and cybersecurity agency have warned. In a joint letter to the Law Society, the Information Commissioner’s Office (ICO) and National Cyber Security Centre (NCSC) called on lawyers to discourage their clients from paying ransomware requests, as they argued [...]
Cybersecurity is not just the IT team’s responsibility: ‘This mistaken belief will cost you dearly’, warns industry insider June 23, 2022 Globally, SMEs have proven themselves to be easy and profitable targets for cybercriminals. Alarming statistics seem to be commonplace these days, but a few released recently still hold enough power to pack a punch. City A.M. spoke to David Steele, founder of SecuriCentrix, about the risks he sees companies take in their approach to cybersecurity, [...]
Hackers delay Vladimir Putin’s opening speech at Russia’s version of Davos June 19, 2022 Hackers on Friday halted the start of Vladimir Putin’s opening speech to the St Petersburg conference dubbed ‘Russia’s version of Davos,’ as part of ongoing cyberwar between Russia and Ukraine. The Russian president’s opener was held up for more than an hour, after pro-Ukrainian hacktivists overloaded the St Petersburg International Economic Forum’s (SPIEF’s) servers with [...]
UK small businesses being priced out of cyber insurance by high premiums and cost-of-living crunch June 16, 2022 The UK’s small businesses are increasingly being priced out of cyber insurance policies, due to sky-high premiums and the cost-of-living crunch. Almost a third (29 per cent) of companies with fewer than 250 staff cancelled their cyber insurance policies last year, as part of efforts to cut costs, research from GlobalData shows. A further 17.3 [...]
Binance hits back at claims it’s a ‘hub for hackers, fraudsters and drug traffickers’ June 6, 2022 Binance, the world’s largest cryptocurrency exchange, has brushed aside claims it is a “hub for hackers, fraudsters and drug traffickers,” after a Reuters investigation accused the Cayman Islands registered firm of serving as a “conduit for the laundering of at least $2.35bn in illicit funds”. In a blog post responding to Reuters’ article, the coin [...]
Government vows to ‘drive dirty money’ out of the UK economy through new Economic Crime bill May 10, 2022 The UK government has vowed crack down on “kleptocrats, criminals, and terrorists” by driving “dirty money” out of the UK economy through its new Economic Crime Bill. The new bill is set to boost transparency, strengthen powers to seize and recover crypto assets, and bolster the investigative powers held by Companies House. Anti-corruption campaigners [...]
UK stamps out record number of online scams following defence push May 10, 2022 A record number of online scams were removed from the internet last year thanks to the nation’s cyber experts significantly expanding the UK’s defences to push back against fraudsters, it has been revealed today. Ahead of the opening of its conference, the National Cyber Security Centre – a part of GCHQ – disclosed that more [...]