Canada gets first qualified custodian for cryptocurrency assets

Tetra Trust launches and closes financing from consortium of investors CALGARY, AB–The financial institution Tetra Trust received its Certificate of Registration on July 5, 2021, making it the first Canadian regulated custodian for cryptocurrency assets. Tetra Trust also completed multiple financing rounds led by a group of strategic investors which …

CybersecurityIndustry Trends

FICO Research Highlights Challenges for Fraud, Financial Crime Teams Amidst Pandemic

SAN JOSE, CA–Global analytics software provider, FICO, released new research that highlights the key challenges North American fraud and financial crime teams faced amidst the COVID-19 pandemic. The majority of senior executives (68 percent) said that remote working had a major impact on maintaining effective fraud and financial crime prevention …

Consumer BankingCybersecurityPayment Processing

Consumer demand for improved digital purchase transparency is on the rise

TORONTO, ON–The way that consumers shop, pay and bank is changing dramatically. Accelerated by the COVID-19 pandemic, consumers are adopting new digital habits at a faster pace than ever before. In the first two months of the pandemic alone, global ecommerce spending surged by USD $53 Billion and consumers came …

Corporate AcquisitionsCybersecurityIndustry News

VersaBank-Owned DRT Cyber to Acquire Digital Boundary Group

LONDON, ON–VersaBank’s wholly owned, Washington, DC-based subsidiary, DRT Cyber Inc., has signed a definitive agreement to acquire all of the outstanding shares of privately-owned Digital Boundary Group (DBG). DBG provides corporate and government clients with a suite of IT security assurance services. These range from external network, web and mobile …

CybersecurityFraud & IdentityIndustry NewsPayments

U.S. Touchless Payments Grow, Cybersecurity Concerns Strong: Fiserv

BROOKFIELD, WI–According to the 2020 Fraud and Security Survey, released by Fiserv, 79 percent of U.S. consumers say that cybersecurity is equally or more concerning that it was for them a year ago. Cybersecurity concerns remain as consumers increasingly adopt digital payment methods that facilitate touchless interactions, yet which often …

CybersecurityE-commerceIndustry Trends

Cybercrime Report Reveals New Opportunities, Risks For Canada, U.S. During Pandemic

FIRST HALF OF 2020 FINDINGS HIGHLIGHT OVERALL DECLINE IN HUMAN-INITIATED ATTACKS, GROWTH IN BOT ATTACKS TARGETING FINANCIAL SERVICES ORGANIZATIONS LexisNexis Risk Solutions released its biannual Cybercrime Report, which tracks global cybercrime activity from January through June 2020. The report dives deep into how the COVID-19 pandemic has impacted the global …


EY survey finds board-business dynamic is contributing to cyber risk

Disconnect leading to one-third of Canadian organizations unable to articulate potential threats; 34% of Canadian organizations have yet to fully articulate their cyber risks TORONTO, ON–A disconnect between cybersecurity efforts and business functions is putting more Canadian organizations at risk as information gaps leave leaders with a limited understanding of potential …


Advanced technologies such as AI, blockchain and continuous authentication to transform the connected era in 2030

Frost & Sullivan Analyzes the Future of Privacy and Cybersecurity SANTA CLARA, CA-Frost & Sullivan’s recent analysis, The Future of Privacy and Cybersecurity, Forecast to 2030, finds that by 2030, there will be a complex global network of 200 billion devices, with over 20 connected devices per human. As the …


Moneris Checkout delivers greater payment security, flexibility, control for online businesses

Moneris Checkout combines hosted payments with advanced fraud prevention features in a convenient, compact solution Toronto, ON –Moneris Solutions Corporation introduced Moneris Checkout, a comprehensive online payment acceptance solution designed to meet the needs of Canadian businesses regardless of size. Secure and flexible, Moneris Checkout offers businesses an easy way …


BMO Appoints Sri Dronamraju as Chief Information Security Officer

TORONTO, ON–BMO Financial Group today named Sri Dronamraju as Chief Information Security Officer (CISO). The appointment is effective January 6, 2020. Dronamraju will oversee the bank’s global strategy for cyber security. Reporting to both Larry Zelvin, Head Financial Crimes, and Ken Librot, U.S. Chief Technology and Operations Officer, Mr. Dronamraju …