2025 – Page 57 – FintechDaily

$25 Trillion Lost in Global Stock Markets Throughout 2022

The market capitalization of global stock markets decreased by 20% in 2022, while the value of traded stocks declined by 10%, according to the World...

Morgan Stanley Faces $60 Million Lawsuit Over Mishandling of Legacy Technology in Data Breach

Morgan Stanley has reached a $60 million class action settlement concerning mishandling of legacy technology, which resulted in two data breaches in 2016 and 2019....

ASX Establishes New Chief Investment Officer Role

The Australian Securities Exchange (ASX) is establishing a separate technology division, appointing a dedicated chief information officer (CIO) to lead it. The exchange operator is...

Bank Security Vulnerabilities Expose Customers to Scammers

Consumer group Which? has highlighted deficiencies in online banking security that may leave customers vulnerable to fraud. Their investigation reveals that some banks are not...

North Korean Hackers Pilfered $400 Million in Digital Assets in 2021

In a significant report from Chainalysis, it has been revealed that 2021 marked a notable year for North Korean cybercriminals, who managed to steal nearly...

UK Market Participants Express Concerns Regarding Transition to T+1

As the US prepares to shorten the settlement cycle, market participants in the UK are expressing concern about potential operational, technological, and cost obstacles, according...

SoSafe Secures $73 Million in Funding

SoSafe, a cybersecurity awareness platform, has secured $73 million in Series B funding, with plans to double its workforce to 500 this year. The funding...

OCBC Bank Compensates Victims of SMS Phishing Scams

OCBC Bank has begun distributing goodwill payouts to customers impacted by recent SMS phishing scams, starting from January 8, 2022. In December, nearly 470 customers...

Swift Celebrates Success of Blockchain Pilot for Corporate Actions Data

Interbank co-operative Swift has successfully completed its blockchain-based corporate actions pilot, which it describes as a "compelling solution." The pilot involved six participants from the...

JPMorgan Chase Plans to Invest $12 Billion in Technology This Year

JPMorgan Chase plans to invest over $12 billion in technology throughout 2022, contributing to an eight percent rise in expenses that may impact the bank’s...