11th September 2016
The central bank on Monday said the involvement of a local bank and a remittance firm in the $81-million Bangladesh Bank heist could have been prevented if monetary authorities had supervisory powers over money service businesses (MSB) and were allowed by law to look into bank accounts. “Earlier Mr. Senator… Read More
6th September 2016
Up until recently, the UK Gambling Commission was reluctant to allow online gambling operators to accept digital currencies due, in part, to fears related to money laundering. A number of respected US companies accept bitcoin as payment for their goods or services. Partly as a result of this, the Commission… Read More
On 7 July the National Crime Agency published its “Cyber Crime Assessment 2016 – need for a stronger law enforcement and business partnership to fight cyber crime”. In this article, Neill Blundell, Head of the Fraud & Investigations Group at Eversheds and Jason Williamson, Eversheds Associate, consider (i) the growth in cyber crime, (ii) the challenges business face as a consequence and (iii) the practical steps businesses can take to enhance their defences against cyber-criminal activity. Read More
26th August 2016
China's banking regulators have described almost half of China's peer to peer online lending platforms as 'problematic', Shanghai Daily has reported. Read More
25th August 2016
U.S. banking regulators said on Wednesday they are focused on cyber security risks and controls for U.S. financial institutions after attacks earlier this year involving the global financial network known as SWIFT. In a letter responding to questions from Representative Carolyn Maloney, a Democrat from New York, the regulators also… Read More
10th August 2016
Rizal Commercial Banking Corp (RCBC) officials say they have preserved ties with major U.S. banks despite the use of one of its branches in Manila by cyber criminals to funnel $81 million stolen from the Bangladesh central bank’s account at the Federal Reserve Bank of New York. The money was… Read More
26th July 2016
The Bangladesh central bank said on Tuesday its Philippine counterpart had nearly completed an investigation into how $81 million of its money wound up in a Manila bank, and that it hoped for the swift return of the stolen funds. Governor Fazle Kabir told reporters he hoped the Philippine authorities… Read More
21st June 2016
When it comes to cybersecurity, the UK public need to wise up or face the consequences. That is one of the many findings of a fresh government report triggered by the TalkTalk data breach last year. The report, titled ‘Cyber Security: Protection of Personal Data Online’, is the result of… Read More
16th June 2016
The U.S. attorney’s office in Manhattan has opened an investigation of the cyber heist of $81 million from Bangladesh Bank’s account at the Federal Reserve Bank of New York, a law enforcement source said. Preet Bharara, the U.S. attorney for the Southern District of New York, is investigating the February… Read More
6th June 2016
Hours before the Federal Reserve Bank of New York approved four fraudulent requests to send $81 million from a Bangladesh Bank account to cyber thieves, the Fed branch blocked those same requests because they lacked information required to transfer money, according to two people with direct knowledge of the matter. Read More