Featured Cyber

Danish authorities struggling with surge in suspicious money flows

Reports of suspicious transactions submitted by banks and betting firms in Denmark have increased tenfold in recent years, straining anti-money laundering authorities which drew heavy criticism on Friday from a state auditor. Banks across the Nordic region are facing increasing scrutiny by regulators after a string of money laundering scandals,… Read More

How the North Korean hackers behind WannaCry got away with a stunning crypto-heist

Cyberattacks waged against cryptocurrency exchanges are now common, but the theft of just over $7 million from the Singapore-based exchange DragonEx last March stands out for at least three reasons. First there is the extremely elaborate phishing scheme the attackers used to get in, which involved not only fake websites… Read More

Britain’s Tax Agency Offering Contract for Tech to Combat Crypto Tax Evasion

Britain’s tax agency is inviting contractors to provide a tech tool to help Britain’s tax agency combat crypto cybercriminals. What the agency wants The technology, which Her Majesty’s Revenue & Customs (HMRC) posted on Jan. 17 in an open contract call worth 100,000 pounds sterling, should gather intelligence through… Read More
16th January 2020
Criminals have long turned to cryptocurrencies like Bitcoin to carry out crimes including ransomware and extortion. But as law enforcement has improved at tracking the semi-anonymous currencies, criminals have had to devise new tactics for turning ill-gotten crypto proceeds back into cash. In response, a… Read More
8th January 2020
Some security experts have warned that Iranian hackers may go after U.S. targets, including financial services companies, in retaliation for the U.S. government’s assassination of the Iranian military leader Qassem Soleimani. Esmail Ghaani, Soleimani’s replacement as head of Iran’s army, said on Monday that “God the Almighty has promised to… Read More
3rd January 2020
Recent research and corporate disclosures have highlighted the fact that video games aren’t only for entertainment. They can also serve as a medium for money laundering, the Financial Times reported Thursday. A report published in October by RUSI noted the video-game marketplaces involve the exchange of virtual artefacts… Read More
24th December 2019
Holly Kay bought eight $1,000 Macy’s gift cards at a California mall because a scammer told her to on the Saturday before Thanksgiving. Forty minutes later, she bought $13,000 more in gift cards at that store. The ease with which Ms. Kay was able to complete those purchases underscores the… Read More
16th December 2019
A Senate panel will take up discussion of a hard-hitting Russia sanctions bill at its next business meeting after skipping a vote earlier this month on the controversial legislation. The Senate Foreign Relations Committee will debate the Defending American Security from Kremlin Aggression Act — described by Senator Lindsey Graham… Read More
12th December 2019
According to a new report (“How Banks Are Combating the Rise in SWIFT Cyber Fraud”) from EastNets, the problem of SWIFT fraud may be more widespread and dangerous than originally thought. In the aftermath of the epic $81 million SWIFT fraud attack on Bangladesh Bank in 2016, the SWIFT interbank… Read More
10th December 2019
Prosecution of white-collar crime has fallen by almost 30 per cent since 2014, according to figures released today. Analysts blame cuts to police numbers driven by austerity for the fall in the number of cases of fraud, money laundering, cybercrime and insider trading being prosecuted. Ministry of Justice figures show… Read More
6th December 2019
The Trump administration Thursday placed a $5 million bounty on the leader of a Russian hacker group called Evil Corp for his alleged work for Moscow’s intelligence agency, part of what U.S. officials say is a broader reprisal for a Kremlin-directed cyber offensive against the U.S. The State Department’s action against Maksim Yakubets… Read More
5th December 2019
More than 200 people have been arrested in 31 countries following a three-month global investigation into money laundering, Europol said Wednesday. The investigation, known as the European Money Mule Action, targeted those who help money launderers transfer funds. The action resulted in 228 arrests, as well as identifying 3,833 mules… Read More
29th November 2019
Police from Hong Kong, Macau, Malaysia and Singapore mounted a joint operation and busted a transnational syndicate that swindled 139 women out of HK$34 million (US$4.34 million) in online romance scams, local police said on Thursday. The three-day transnational police operation, code-named “Soarblaze”, led to the arrests of 39 people,… Read More