18th May 2017
The biggest bank in the Nordic region says this month’s ransomware attack underscores the need for lawmakers to look more closely at bitcoin’s role in financial crime. Nordea Bank AB, whose chief risk officer, Julie Galbo, testified to the Danish parliament on Tuesday in response to questions about management’s efforts… Read More
17th May 2017
Chinese police closed 168,000 cases of financial crime and recovered 35.6 billion yuan (5.2 billion US dollars) last year, the Ministry of Public Security announced on Monday. According to the ministry, the frequency of financial crime is still high in China. Cases of illegal fund-raising, pyramid selling, online peer-to-peer fraud,… Read More
8th May 2017
Macau’s government is requiring facial recognition and identification card checks at ATMs before Chinese UnionPay cardholders can withdraw cash, a stepped-up measure to curb money laundering in the world’s largest casino hub. Read More
8th May 2017
Criminals who use the virtual currency known as Bitcoin can be convicted of money laundering under a Florida measure passed by legislators late Friday. Both the state House and Senate approved the bill, which now heads to the desk of Gov. Rick Scott for approval. Read More
24th April 2017
The Department of Justice (DOJ) has found basis to file money laundering charges against a former branch manager of the Rizal Commercial Banking Corp. (RCBC) and officials of remittance firm Philrem Service Corporation (Philrem) in connection with the $81 million in funds stolen by hackers from the Bangladesh Bank. Current… Read More
21st April 2017
Free, easy-to-use hacking tools help many young people slip into a life of cyber-crime, according to a report. The National Crime Agency (NCA) has detailed the “pathways” taken by people who become criminals. Many started by getting involved with game-cheat websites or forums that talked about ways to change… Read More
20th April 2017
U.S. Sen. Jeanne Shaheen (D-N.H.) wants to know what Amazon is doing to protect the millions of retailers selling wares on the ecommerce giant’s site against cyber threats and hackers. In an April 14 letter to Peter Faricy, vice president of Amazon Marketplace, the senator has requested a description of… Read More
20th April 2017
The U.S. Justice Department announced Monday an “extensive” operation to dismantle the Kelihos Botnet, a global network of tens of thousands of infected computers under the control of a Russian cybercrime kingpin. The action seeks to stop computer programmer Pyotr Yuryevich Levashov from continuing the scheme. Read More
11th April 2017
Only a year ago Russia’s Finance Ministry was threatening jail time to anyone using digital currencies. In a major U-turn, it’s now edging closer to their acceptance as a legitimate financial instrument to open a new line of attack on money laundering. The authorities hope to recognize bitcoin and other cryptocurrencies… Read More
4th April 2017
Cybercriminals often possess an air of secrecy that makes us assume they’re smarter than they are. But hackers aren’t necessarily geniuses — it’s just that computer users repeatedly make the same mistakes. Modern business owners share an alarming lack of awareness regarding cybersecurity, which often leads to negligence, which leads… Read More