Armis, the asset intelligence cybersecurity company, announced on 6 August that it has surpassed $200m in annual recurring revenue (ARR) doubling its ARR in less than 18 months and making it one of just a few companies that have achieved this rapid scale, not just in the cyber security market, but of any SaaS company worldwide. Continue reading…

The FCA has set out a package of measures designed to help strengthen the UK’s capital markets and position as a global and vibrant financial centre.

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Investigations into corruption, trading and the influencing and bribery of foreign public officials have led to 15 searches across France, Spain and the Netherlands. A multinational company is being investigated for possible corruption and money laundering involving civilian and military equipment. French authorities have started multiple investigations into the company. 

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The European Central Bank (ECB) and the European Banking Authority (EBA) has on 1 August published a joint report on payment fraud. The report assesses payment fraud data reported semi-annually by payment service providers across the European Economic Area (EEA) for a variety of payment instruments, such as credit transfers and card payments. Continue reading…

On 1 August, the European Artificial Intelligence Act (AI Act), the world’s first comprehensive regulation on artificial intelligence, entered into force. The AI Act is designed to ensure that AI developed and used in the EU is trustworthy, with safeguards to protect people’s fundamental rights. The regulation aims to establish a harmonised internal market for AI in the EU, encouraging the uptake of this technology and creating a supportive environment for innovation and investment. Continue reading…

The European Commission has approved, under EU State aid rules, a €2 billion Dutch measure to support the PALLAS project aimed at producing medical radioisotopes for cancer diagnosis and treatment. The measure contributes to ensuring security of supply of essential and live-saving medicines in line with the Pharmaceutical Strategy for Europe. Continue reading…

by Marie-Christine Diaz

Following a global trend, the EU’s Instant Payments Regulation mandates the adoption of instant payments in Euros across the entire region within the next two years1.This ambitious initiative promises instant and irrevocable money transfers and greater convenience for consumers and businesses on a 365/24/7 basis. Yet, these lightning-fast payments also create a critical challenge for financial institutions (FIs): outpacing fraudsters in a fraud sophistication race. Continue reading…

The Regional Court of Bamberg in Germany has sentenced fifteen members of a Dutch led organised crime group (OCG) that robbed a series of Automatic Teller Machines (ATMs) in Germany, causing massive damage. The OCG members have been served prison sentences of between one year and nine months and five years and eleven months for a series of violent robberies in southern Germany. Eurojust coordinated the investigations and judicial cooperation between the German and Dutch authorities. Continue reading…

CB Payments Limited (CBPL) has been fined £3,503,546 by the Financial Conduct Authority (FCA) for repeatedly breaching a requirement that prevented the firm from offering services to high-risk customers. CBPL is part of the Coinbase Group, which operates a prominent cryptoasset trading platform that is accessible globally. CBPL does not undertake cryptoasset transactions for customers but it acts as a gateway for customers to trade cryptoassets via other entities within the Coinbase Group. CBPL is not currently registered to undertake cryptoasset activities in the UK.

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by Simon Yeoman

In a world where online presence is everything, organisations of all sizes are dependable on IT services. However, when it comes to switching providers, even well-established businesses are often surprisingly hesitant. The culprit? The fear of downtime. After all issues such as system outages can lead to lost revenue, frustrated customers and a tarnished reputation – consequences that make even the most performance-hungry businesses think twice. Continue reading…