EC gets cross with Malta over AML supervision

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

Cryptocurrency isn’t the primary threat to sanctions enforcement

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

Global Cryptocurrency Exchanges Cut Ties With Iran After New US Sanctions

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

Taiwan’s Legislature Amends AML, CFT Laws to Place New Requirements on Crypto Exchanges

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

Sen. Wyden Proposed a CEO-Felling Data Privacy Law. Is Big Tech Ready for It?

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

Trades unveil cybersecurity profile

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

Ransomware Threat Continues: How Infections Take Place

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