Cyber security development in fintech

The convergence of technologies such as the internet of things (IoT), artificial intelligence (AI), machine learning, big data and data analytics has played a significant role in the adoption and evolution of several fintech applications. However, with the adoption of new technology comes the risk of those applications becoming a primary source of weakness and point of entry for cyber-attacks.
 

Staff fraud and misconduct

Accepting that fraud and misconduct can be carried out by your (supposedly) trusted and loyal staff is always a difficult pill to swallow. Every organisation, irrespective of size or sector, will at some point (if not already) have to undertake investigations into staff fraud and/or misconduct. 

Extending the Senior Managers & Certification Regime to all FCA firms – summary of Consultation Paper 17/25 on Individual Accountability

On Wednesday, the FCA issued a consultation paper (CP17/25)  on the extension of the Senior Managers & Certification Regime (‘SM&CR’) to those FSMA authorised firms that are not currently in scope of the regime.
The key drivers of this reform are still the same as the original SM&CR that is currently applicable to the banking sector; Improving culture and governance in financial services firms, holding senior managers to high standards through individual accountability and increasing consumer protection remain amongst the highest priorities for the FCA.
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