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Bank of Ireland glitch ‘allowed customers with no money to withdraw funds from ATM’ | World News
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A glitch with Bank of Ireland’s online app reportedly allowed customers with no money to transfer funds and withdraw it from an ATM. The technical blunder meant people were able to put money into a Revolut digital account and then withdraw it from a cash point. Some claimed that they were able to access as…
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Bank chiefs tell Sunak to make big tech bear cost of fraud ‘pandemic’ | Business News
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The bosses of Britain’s biggest banks have told Rishi Sunak that technology companies must contribute to the cost of an online fraud “pandemic” that is undermining international investor confidence in the UK economy. Sky News has obtained a letter to the prime minister signed by the chief executives of nine lenders, including Barclays, NatWest and…
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BA, BBC and Boots hit by cyber security breach with contact and bank details exposed | Business News
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The BBC, British Airways and Boots have been caught up in a cyber incident that has exposed employee personal data, including bank and contact details, to hackers. It emerged last week that a so-called zero-day vulnerability – a flaw – in the file transfer system MOVEit, produced by Progress Software, had been exploited by cyber…
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Avoid ‘get rich quick’ schemes on Facebook, WhatsApp and Instagram warns bank | Science & Tech News
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An increasing amount of financial scams are taking place via social media platforms like Facebook, WhatsApp and Instagram, according to analysis by a leading bank. TSB has said 80% of its cases within the three biggest fraud categories came through the Meta-owned companies after analysing its own internal data over the space of two years.…
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How Silicon Valley Bank chaos has had a bearing on us all – and why we’re in for a bumpy few months | Business News
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Tempting as it is to believe that the chaos with Silicon Valley Bank and its British arm are of interest only to members of the tech community and financial nerds, it has already had a very real bearing on all our lives. For evidence, look no further than the money markets, where investors bet on…
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Britcoin: Future of a digital pound ‘more likely than not’, Bank of England official says | Business News
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New technologies could help to open up a “new frontier” for payments and the way in which money is used, a Bank of England boss has told MPs. Work on a digital pound, regulated by the Bank of England, was delayed by the “pressure of other business” in September and October last year, the deputy…
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FTX collapse shows crypto is ‘too dangerous’ not to regulate, Bank of England deputy governor says | Business News
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Cryptocurrency trading is “too dangerous” to remain outside mainstream financial regulation and could pose “a systemic problem” without action, the deputy governor of the Bank of England has warned. Speaking for the first time since the founder of the crypto trading platform FTX was arrested and charged with massive fraud, Sir Jon Cunliffe told Sky…