12th February 2020
PayPal Holdings Inc (PYPL.O) is teaming up with criminologists and experts at several universities to probe the payment systems used in the trafficking of illegal firearms in the United States, the company said on Tuesday. The research aims to help financial companies and law enforcement understand what types of… Read More
3rd February 2020
Another three people have been arrested in connection with last year’s €13 million Bank of Valletta cyber heist, after €950,000 was funneled through an account in Northern Ireland. Friday’s announcement by the UK’s National Crime Agency follows the arrest of three other men in Belfast and London earlier this week. Read More
28th January 2020
A professional soccer whistleblower has been named as the source behind a global exposé of the siphoning of Angolan wealth by Africa’s richest woman and her family. Led by the International Consortium of Investigative Journalists, Luanda Leaks reveals how Isabel dos Santos, amassed a fortune of more than $2… Read More
23rd January 2020
Belgium’s four major banks, Belfius, BNP Paribas Fortis, ING Belgium and KBC, will now use a blockchain to simplify their customer services, the Isabel Group announced on Wednesday. The four will use the Kube application, which will allow them to share businesses’ data between them and thus facilitate the verification… Read More
20th January 2020
The Canadian extradition proceedings of Huawei Technologies chief financial officer Meng Wanzhou hinge on allegations she made a fraudulent presentation to HSBC in 2013 over the technology giant’s business ties in Iran, but recently revealed documents show the bank had been aware of Huawei’s business relationships in the Middle Eastern… Read More
7th January 2020
A “dual filing system” at the shuttered Pilatus Bank meant key documents may have been withheld from the MFSA and FIAU during a 2016 review of the bank’s operations. The existence of this ‘hidden’ filing system was revealed to the Egrant inquiry during testimony by Pilatus auditors KPMG. KPMG managing… Read More
25th December 2019
Chinese scientists have been working on a system to use artificial intelligence that would make it almost impossible to cheat on taxes, according to researchers involved in the project. Over the last three years, about 300,000 government tax inspectors have been helping to train an AI system that draws… 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
JPMorgan Chase & Co.’s blockchain-based payments network is drawing the greatest interest in Japan, a country long blamed for weak measures against money laundering. More than 80 Japanese banks have expressed a willingness to join the Interbank Information Network, said Daizaburo Sanai, an executive director at the U.S. firm. 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