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Wall Street stock-lending platform crashes in ransomware attack

American Banker

The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial technology firm that processes trillions of dollars of securities-lending transactions every month.

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Today’s Cyber Risk Management

Cisco

In between these events, a different crisis began in the US sub-prime lending market. In the latter half of 2021, regulatory agencies responded to increasing cyber risks with updated guidance for institutions and auditors. Digitization and Rising Complexity.

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Central Bank Of Sri Lanka Looks To Build KYC System On Blockchain Tech

PYMNTS

“Ministry of Electronics and Information Technology (MeitY) has identified Blockchain Technology as one of the important research areas having application potential in different domains such as Governance, Banking & Finance, Cyber Security and so on,” wrote Sanjay Dhotre.

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Sizzle Or Fizzle: Restaurants Rule, FireEye Flounders And Lending Club Is Back On The List

PYMNTS

Upserve is said to have a fancy, slick restaurant management algorithm that could help Square Capital refine its own fancy, slick risk management algorithm to make better lending decisions. This could come as a welcome relief, as lending decisions will be based on data about the viability and success of the business, which helps everyone.

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Synthetic Identities: From Data Breaches to Auto Loan Fraud

FICO

It’s true: synthetic identities have become a major method for perpetrating auto lending fraud. In the auto lending industry, most cases involve a multi-step process between one party’s data breach and another’s fraud. Using the FICO Cyber Risk Score to empirically assess third-party cyber risk is a critical first step.

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CSBS Launches Three Online Tools for the Financial Services Industry

CFPB Monitor

These documents are categorized by state, license, and topic, including: virtual currency; correspondence to mortgage broker; lender and originator licensees; money transmission; mortgage underwriting and processing; third-party payment processing; mobile home lending; and mortgage servicing.

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Disruptive technology will not kill banks

Jeff For Banks

Lending Club funded $5 billion in loans since its founding in 2007. Aside from the cyber security of it, let''s think of the implications from a corporate accounting system that wants to interact directly with the bank''s core. Do you think your bank customers had an Orange account? Was ING Direct a disruptor? And Quicken Loans.