Monthly Archives: July 2015

Britain Opts Out of EBA Online Payments Security Guidelines

The UK is one of three EU member states that have opted out of signing up to new guidelines from the European Banking Authority (EBA) on standards for payment service providers. The guidelines, which come into effect this August, require payment firms to meet a number of certain standards, notably those related to the privacy and security of their customers when making payments online.

Head of Consumer Protection, Financial Innovation and Payments for the EBA,

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The amount of money paid out to informants by the HMRC is set to reach a record high of £605,000, more than twice the amount paid out last year, as it attempts to increase efforts to crack down on tax evaders.

According to research from RPC, a city-based law firm, payouts had risen from £402,000 in 2013-14 due primarily to increased public awareness of the possible rewards for informing on those suspected of tax evasion,

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Banks Alerted by Interpol to New ATM Virus

Banks in several countries have come under fire from a new type of financial cyberattack, in which a virus is placed on bank computer systems, allowing cash withdrawals from ATM machines to users without an account, according to officials for Interpol.

The International Criminal Police Organisation, Interpol, warned that although there were no reported cases yet, it expects the virus to spread to ATMs in Japan, warning banks in the country to begin taking all necessary precautions to circumvent what they consider to be an imminent attack.

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