Featured Cyber

Crypto stablecoins face increasing regulatory scrutiny

Tether and other so-called cryptocurrency stablecoins have long flown under the radar of international regulators. That’s about to change. The Financial Action Task Force, with members from about 200 countries who recommend ways to stop money laundering and the financing of terrorism, said in a report Tuesday that stablecoins… Read More

Nigerian scammer arrested by FBI could be behind €13m BOV cyberattack

The United States government has gained custody of a Nigerian man who could have been behind the multi-million cyberattack on Bank of Valletta in February 2019. The FBI’s criminal complaint says that Ramoni Igbalode Abbas aka “Hushpuppi”, who amassed 2.4 million followers on Instagram flaunting luxury cars, designer clothing,… Read More

North Korean hackers are now stealing U.S. shoppers’ credit card details

Hackers with suspected ties to the North Korean regime are intercepting and stealing U.S. shoppers’ credit card details during online payments. Cybercriminals with links to a state-sponsored unit known as “Hidden Cobra” have been breaking into the websites of “large U.S retailers” and planting “skimmers” since at least May 2019,… Read More
29th June 2020
A Nigerian influencer who attracted millions of followers by posting selfies from private jets and photographs of his collections of luxury cars, shoes and watches has been arrested amid claims of a £350 million cyberscam. Officers from the FBI and Interpol seized more than £30 million in cash when they… Read More
28th June 2020
For the past year, WikiLeaks founder Julian Assange has sat in a London jail awaiting extradition to the US. This week, the US Justice Department piled on yet more hacking conspiracy allegations against him, all related to his decade-plus at the helm of an organization that exposed reams of… Read More
23rd June 2020
Police have frozen $140 million in bank funds linked to a Russian “computer genius” in the largest ever restraint of funds in New Zealand police history. The money was controlled by a New Zealand registered company and has been frozen as part of a global investigation into a Bitcoin exchange… Read More
17th June 2020
As banks try to stop fraudsters from exploiting unemployment insurance programs overwhelmed by the pandemic, some of their efforts are working and others are falling short. They’re finding that customers are unknowingly complicit and it’s hard to uncover the full story behind a transaction. In thousands of cases around… Read More
12th June 2020
Germany is urging its fellow European Union governments to impose the bloc’s first-ever sanctions for hacking on a Russian suspect in the 2015 cyberattack on the German parliament. An EU sanctions framework for cyberattacks took effect last year, allowing the imposition of travel bans to the EU and the freezing… Read More
8th June 2020
Experts believe that a more holistic crypto ecosystem, especially one that is more AML-centric, is needed to help prevent the spread of crypto scams in 2020. Per a new report released by digital-asset intelligence firm CipherTrace on June 2, the value of ill-gotten funds siphoned through cryptocurrency crimes… Read More
4th June 2020
Crypto intelligence company CipherTrace, which started tracking cryptocurrency crime a few years ago, said it has started to see coronavirus-related frauds that require some form of digital currency payment. Losses from cryptocurrency thefts, hacks, and frauds soared to nearly $1.4 billion from the beginning of the year until the end… Read More
2nd June 2020
PayPal says it will continue to work with local law enforcement agencies to prevent its platform being used by criminals, including COVID-19 scammers, as transaction volumes surge to record levels with the pandemic accelerating growth in online payments. During April, PayPal in Australia processed the highest number and value of… Read More
29th May 2020
Germany wants to impose a European travel ban and asset freeze on the head of Russia’s military intelligence agency and several of its spies in response to a 2015 cyberattack on the German Parliament that was traced back to Moscow earlier this month. The government will invoke a European… Read More
27th May 2020
A recent rash of ransomware attacks on bank technology vendors — including Finastra, Diebold Nixdorf, Cognizant and Pitney Bowes — raises serious questions about why they’re happening and what banks can do to protect themselves. “The threat vector of ransomware is definitely concerning for the industry, not only for us… Read More