Latest cybersecurity reporting from selected sources.

Country's Largest Lender Bank Offers to Reinstate 45 'Redundant' WorkersCommonwealth Bank of Australia reversed plans to eliminate 45 call center positions after its chatbots failed to reduce customer service volume as promised, forcing the bank to offer overtime to remaining staff while facing union challenges over what may have been disguised outsourcing to India.

Australian Securities Commission Says HSBC Ignored Repeated Internal WarningsSome lessons come with a price. The recent lawsuit against HSBC by the Australian Securities and Investments Commission claims the bank prioritized profits over customer safety. Despite repeated internal warnings from its own fraud experts, HSBC failed to act.

Australian Securities Commission Says HSBC Ignored Repeated Internal WarningsSome lessons come with a price. The recent lawsuit against HSBC by the Australian Securities and Investments Commission claims the bank prioritized profits over customer safety. Despite repeated internal warnings from its own fraud experts, HSBC failed to act.

M&T Bank's Karen Boyer on Need for Shared Responsibility with Telecoms, Tech FirmsTechnology solutions can help banks fight fraud, but privacy constraints are preventing them from doing an effective job to ferret out scammers, said Karen Boyer, senior vice president at M&T Bank. She supports a new Australian law that also places responsibility on telecom and internet providers.

Ken Palla on Lessons From U.K and Australia to Reduce Fraud and ScamsThe U.S. Consumer Financial Protection Bureau's decision to file a lawsuit against Zelle is too late and too narrow to reduce scams, said Ken Palla, retired director with MUFG Bank. CFPB last month sued the operator of Zelle, as well as three banks for failing to protect consumers from fraud.

Also, Man Who Stole $3.5M of Cloud Computing to Mine $1M in Crypto Pleads GuiltyThis week, Solana npm package attack, a Brazilian banking giant entered crypto trading and a Nebraska man pleaded guilty to cryptojacking. Australia tightened rules for crypto businesses and crypto losses dropped in 2024 and DMM Bitcoin will cease operations.

Also, Man Who Stole $3.5M of Cloud Computing to Mine $1M in Crypto Pleads GuiltyThis week, Solana npm package attack, a Brazilian banking giant entered crypto trading and a Nebraska man pleaded guilty to cryptojacking. Australia tightened rules for crypto businesses and crypto losses dropped in 2024 and DMM Bitcoin will cease operations.

Also: Turla Targets European Missions and Google Patches Chrome Zero-DaysThis week, hackers used a Linus backdoor and a Microsoft client management tool; Santander Bank, the Helsinki Education Division, an Australian energy provider and auction house Christie's were breached; hackers targeted European missions in the Middle East; and Google patched a zero-day flaw.

McKinsey Predicts up to 15% Profit Increase, Gen AI Use in All Areas of BankingBloomberg, JPMC, European Central Bank, Morgan Stanley, NASDAQ, HDFC ERGO and Commonwealth Bank Australia are harnessing gen AI to enhance productivity and customer experience. Gen AI has the potential to reshape job roles, redefine customer interactions and create new business models.