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Sibos 2016: Cybersecurity: The Challenge of Knowing Your Suppliers and Consumers
Discussing the challenges of KYC and knowing ones’ suppliers in the cybersecurity world, Dow Jones gave an interesting talk about why people have to be extra vigilant at the moment. Rob Sloan, Head of Cyber Content and Data, with Grant Allen, Head of Technology Platforms, explained the current issues being faced within this sector of the financial services world.
With the surge of so many different and new technologies, security is constantly at the front of everyone’s mind. That risk is dramatically increased the more data is shared with a third party. The main areas of concern for both Sloan and Allen was how inevitable attacks are and how the cost or energy difference between the attackers and defenders is unbelievably imbalanced. Attacks are low costing have low risk while offering a high reward. Another side to this are corporate factors. Corporations have to deal with a vastly complex network on a grand scale while being under resourced and under skilled. It’s rare to find a security department for a business which feels suitably prepared for attacks. When this is collaborated with human beings not always being expert communicators with one another, it makes for a lot of mess. The final grand factor within all this are having a mish mash of laws and regulations which widely vary depending on the location of the business.
Having all of this in mind the speakers outlined a couple of potential futures for cybercrime which fundamentally is built on the notion that with new technology comes new malware. Unless an individual or company build every single physical and virtual product themselves then there can be unknown weaknesses and the responsibility lands on a stranger, never before met, who build the product at some point in time in some random place. The main goal for the talk, albeit slightly paranoid, was to get people to start asking themselves what they can do on an individual level to improve the security of the business that employs them, to which it accomplished.
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Second Day of Money20/20 Middle East Unveils Next-Gen Solutions at the Region’s Largest Ever Fintech Gathering
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United Gulf Financial Services Joins The Hashgraph Association and Exponential Science Foundation Adding $1M to Hedera Africa Hackathon Pool Prize
United Gulf Financial Services (UGFS North Africa), a leading venture capital firm offering innovative companies and startups with financial support and mentoring services, has announced a partnership with The Hashgraph Association, a Swiss non-profit organization driving global adoption of Hedera-powered solutions by funding innovation, training, certification, and venture building programs, and Exponential Science Foundation, a not-for-profit foundation accelerating responsible tech adoption, via research, education, and innovation activities, for Hedera Africa Hackathon 2025, the biggest hackathon in Africa aimed at enabling the next generation of Web developers and empower economic inclusion in Africa with a digital future for all.
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Cheaper, Faster… Riskier: Over Half Of Brits Plan To Use ChatGPT For Completing Their Tax Returns
More than half (59%) of Brits admit that they’ll use AI to help with their tax return
WorkFusion Raises $45 Million in Funding to Fuel Growth for Agentic AI for Financial Crime Compliance
WorkFusion, a pioneer in AI agents for financial crime compliance (FCC), today announced it raised $45 million in funding.
AI-Powered E-commerce, Stablecoins and Local APMs: Emerging Trends Headline EBANX’s Payments Summit in Mexico
How could AI agents search, compare and pay for things? What makes stablecoins a game-changer for cross-border digital commerce? Why are local Alternative Payment Methods (APMs) crucial for any business wanting to enter and scale in emerging markets?
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Day two of Money20/20 Middle East in Riyadh brought together global leaders in fintech, banking, and financial services to discuss the future of money and finance in the region.
United Gulf Financial Services Joins The Hashgraph Association and Exponential Science Foundation Adding $1M to Hedera Africa Hackathon Pool Prize
United Gulf Financial Services (UGFS North Africa), a leading venture capital firm offering innovative companies and startups with financial support and mentoring services, has announced a partnership with The Hashgraph Association, a Swiss non-profit organization driving global adoption of Hedera-powered solutions by funding innovation, training, certification, and venture building programs, and Exponential Science Foundation, a not-for-profit foundation accelerating responsible tech adoption, via research, education, and innovation activities, for Hedera Africa Hackathon 2025, the biggest hackathon in Africa aimed at enabling the next generation of Web developers and empower economic inclusion in Africa with a digital future for all.
Payhawk Transforms Spending Experience for Businesses With Four Enterprise-Ready AI Agents
Payhawk announced set of AI agents that complete everyday finance work as part of its product launch
Alipay+ to Launch in Saudi Arabia, Facilitating Cross-Border Mobile Payments for Local Merchants
Ant International will launch cross-border QR code payments between the Saudi Arabia’s (KSA) national payment scheme, mada, Alipay+, during 2026 to drive digitisation and inclusive growth for local merchants.