New UK Cybercrime Report Makes No Mention of Bitcoin
Cybercrime is a real threat to computer and mobile device users all over the world. With every device being connected to the internet, hackers are having a feasting frenzy over exploiting vulnerabilities and infecting devices with all kinds of malware. According to statistics provided by UK’s Office of National Statistics, over 7.5 million incidents of cybercrime have been reported. Despite this report being the first one to provide some statistics regarding cyber crime reports, things are not looking all that positive. With 5.1 million reports of online fraud being reported, it just goes....
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Similarly to how most governments feel, Europol is not too keen on end-to-end encryption either. The report mentions how several cases of child abuse have been livestreamed over encrypted connections. Cybercrime is a threat of all ages, even though things seem to be getting progressively worse over time. Europol has issued a new warning against the mounting number of online crimes. At the same time, they are also concerned about the mounting number of opportunities for criminal gain. Bitcoin is, of course, mentioned as well. The number of threats posed by internet criminals has never been....
How distributed ledger technologies can help law enforcement agencies to fight crime and money laundering. The problem of spreading cybercrime is becoming more acute today, and developed countries with high gross domestic product rates suffer from it to a much greater extent than developing countries. This is due to the fact that the more advanced technologies are used by society, the stronger its dependence is on digital structures. And this, in turn, creates more opportunities for cybercriminals. In 2021, the damage from cybercrime is predicted to be $6 trillion — twice as much as in....
In its latest report called the Internet Organised Crime Threat Assessment for 2015, Europol outlined the state of cybercrime threats in the European Union. The report mentions bitcoin and virtual currencies, claiming that it accounts for roughly 40% of criminal-to-criminal transactions online. This follows the agency's statement indicating that cryptocurrencies promote the crime-as-a-service business model, wherein bitcoin was highlighted for its role in facilitating money laundering. The cryptocurrency is known for its anonymous transactions, which Europol says makes it "heavily abused....
Europol believes that militants can potentially use cybercrime as a service from the darknet to launch attacks on European nations. Software as a Service (SaaS) has been around for a while until the Bitcoin revolution introduced Blockchain as a Service (BaaS). Thanks to both, now we have Cybercrime as a Service. The emerging threat as got Europol concerned. According to recent reports, the European law enforcement agency has expressed its concerns about the increasing availability of cybercrime services for hire on the darknet. These services, run by hackers can be easily hired by anyone....
The Dutch public prosecution office is looking at three pending cases involving the digital currency bitcoin and money laundering in 2017. In a report from Financieele Dagblad, a Dutch daily newspaper, the public prosecution department is aiming to tackle money laundering by cracking down on the issue that the country is facing. The first case to be heard will take place on February 6 involving a 24-year-old man from Amsterdam and a 27-year-old man from Utrecht. They are accused of laundering €2.4 million with the use of bitcoins. In the second case, four Dutch nationals are involved who....