Japan grants cryptocurrency industry self-regulatory status
25th October 2018
Japan grants cryptocurrency industry self-regulatory status
AP – Japan’s Financial Services Agency (FSA) on Wednesday gave the cryptocurrency industry self-regulatory status, permitting the Japan Virtual Currency Exchange Association to police and sanction exchanges for any violations. The government has been reviewing its approach toward an industry that has been hit twice by large-scale thefts. The FSA… Read More
Man gets 12-year prison term for stealing IDs, bank fraud
22nd October 2018
Man gets 12-year prison term for stealing IDs, bank fraud
AP — A suburban Chicago man has been sentenced to 12 years in prison for using identities stolen from the dark web to defraud businesses of more than $600,000. The U.S. Attorney’s Office in Springfield says 25-year-old Keith Offord of Carpentersville also was ordered Friday to… Read More
Hacked, scammed and on your own: navigating cryptocurrency ‘wild west’
19th October 2018
Hacked, scammed and on your own: navigating cryptocurrency ‘wild west’
When Peggy and Marco Lachmann-Anke learned in January that hackers cracked a 40-character password and cleaned out their cryptocurrency wallet, they did not go to the police or alert the tokens’ issuer, the Berlin-based technology group IOTA. They bought more coins. The Cyprus-based German couple, who describe themselves as financial… Read More
SEC warns corporate cyber weakness could violate federal law
18th October 2018
SEC warns corporate cyber weakness could violate federal law
Public companies that fail to tighten their cyber security controls could be violating federal law, the U.S. Securities and Exchange Commission (SEC) said on Tuesday. The regulator’s warning came in the form of a report on its investigation to assess whether nine companies that had been victims of cyber-related frauds… Read More
Insurer Anthem will pay record $16M for massive data breach
16th October 2018
Insurer Anthem will pay record $16M for massive data breach
AP — The nation’s second-largest health insurer has agreed to pay the government a record $16 million to settle potential privacy violations in the biggest known health care hack in U.S. history, officials said Monday. The personal information of nearly 79 million people — including names, birthdates, Social Security… Read More
NKorea said to have stolen a fortune in online bank heists
5th October 2018
NKorea said to have stolen a fortune in online bank heists
AP — North Korea’s nuclear and missile tests have stopped, but its hacking operations to gather intelligence and raise funds for the sanction-strapped government in Pyongyang may be gathering steam. U.S. security firm FireEye raised the alarm Wednesday over a North Korean group that it says… Read More
Mauritius bank SBM says unit’s India operations hit by cyber fraud
4th October 2018
Mauritius bank SBM says unit’s India operations hit by cyber fraud
Mauritius banking group SBM Holdings said on Wednesday that its Indian operations suffered a cyber fraud earlier in the week, and that the bank has potentially lost up to $14 million. SBM said that no loss had been caused to customers and that the Indian business operations would continue as… Read More
UK regulator FCA fines Tesco Bank £16.4m for cyber-attack, financial crime failures
2nd October 2018
UK regulator FCA fines Tesco Bank £16.4m for cyber-attack, financial crime failures
The Financial Conduct Authority (FCA) has fined Tesco Personal Finance plc (Tesco Bank) £16,400,000 for failing to protect its customers against a November 2016 cyber attack and the resulting financial crimes that occurred. The banking watchdog found that cyber attackers exploited deficiencies in Tesco Bank’s design of its debit card,… Read More
U.S. securities law can cover cryptocurrencies, judge rules
12th September 2018
U.S. securities law can cover cryptocurrencies, judge rules
U.S. securities law can be used to prosecute fraud cases over cryptocurrency offerings, a New York federal judge ruled on Tuesday in what appeared to be the first court decision to address the issue. The ruling from U.S. District Judge Raymond Dearie in Brooklyn allows federal prosecutors to pursue their… Read More
US regulator approves stablecoin firms, emphasizes on anti-money laundering
11th September 2018
US regulator approves stablecoin firms, emphasizes on anti-money laundering
New York’s Department of Financial Services (DFS) has authorised two firms to offer a price-stable cryptocurrency or “stablecoin,” which is pegged to the U.S. dollar, and stressed the need for them to implement effective controls to prevent money laundering, terrorism funding and other illegal activities. The regulator said it… Read More
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