The European Commission (EC) wants the Maltese anti-money laundering (AML) supervisor to bring its A-game when checking out banks and shady activities. Amidst the polite platitudes that the EC loves, it did remind Malta’s Financial Intelligence Analysis Unit (FIAU) about its obligations under the fourth Anti-Money Laundering Directive. Oi Malta! Sort it out! Following the … Read more
Authoritarian states may not be may not be that interested in payments networks they can’t control The effect of cryptocurrency technology on the U.S.’s ability to enforce sanctions is a topic that has been receiving more and more government attention. Mostly it has been a reaction to Venezuela’s attempt to create an oil-backed token called … Read more
Exchanges A number of cryptocurrency exchanges have reportedly cut ties with Iran after the U.S. imposed tougher economic sanctions against the Islamic Republic. Sepehr Mohammadi, head of Iran’s Blockchain Community, told local media that Binance and Bittrex are some of the platforms to have unofficially dropped Iran from the list of supported countries to receive … Read more
It seems no one can stop the breaches as cyber attackers have got hold of customer data belonging to HSBC Bank USA. Data stolen According to a “notice of data breach” sent to affected customers on 2 November, HSBC Bank USA said a number of online accounts were accessed by unauthorised users between 4 October … Read more
The FFIEC has issued a statement to alert financial institutions of the recent actions taken by the Office of Foreign Assets Control under its Cyber-Related Sanctions Program and to the potential impact similar sanctions may have on financial institutions’ operations.
Taiwan’s legislature has passed amendments to existing AML and counter terrorism financing (CFT) laws to place new requirements on crypto exchanges. Taiwan’s legislature has passed amendments to existing anti-money laundering (AML) and counter terrorism financing (CFT) laws to place new requirements on crypto exchanges. The development was reported by FocusTaiwan, the English language news website … Read more
Consumers who have clamored for data privacy reform since Equifax’s ransacking and, more recently, Facebook’s Cambridge Analytica debacle have cause to celebrate. On Thursday, Senator Ron Wyden (D-Ore.), a prominent privacy hawk, unveiled a draft bill that seeks to slap harsher penalties on companies–and chief executive officers–who run afoul of new rules that expand government … Read more
Weighing the impact of GDPR and how the historic legislation has shaped privacy protection measures in the U.S., so far.
In an effort to provide banks a common, credible and efficient compliance approach to cybersecurity and assessment, the American Bankers Association (ABA) and other financial trade groups recently unveiled a new cybersecurity profile under the direction of the Financial Services Sector Coordinating Council. Council representatives stressed the potential safety and soundness risks presented by cybercriminals which the … Read more
Home » Current News » Ransomware Threat Continues: How Infections Take Place If cybersecurity consultants and IT admins have learned anything of the current threat environment, it’s that ransomware will continue to be a pervasive and dangerous threat to individual users, enterprises and organizations at large. When they first emerged, these infections were unlike anything … Read more