New OCC Report Blasts Bitcoin For Role In Cyber Threats
The point that interests us the most is how the OCC mentions the extortion demands to be paid in virtual currency. Ransomware has been a severe plague for the financial world, albeit other sectors are affected as well. The OCC has issued a new report discussion the semiannual risk perspective. These days, financial institutions are facing many different threats in the online world. Malware, ransomware, data breaches, and social engineering are just some of the potential circumstances to deal with. No one will be surprised to hear virtual currencies got a mention as well. The entire report....
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On August 25, 2016, Australia’s Minister of Finance, Malcolm Keenan, announced that the Australian Transaction Reports & Analysis Centre (AUSTRAC), will be launching a new cyber-intelligence team. Task Force Designated to Take on “Financial Threats” Facing Australia. The team is intended to specialize in gathering information about financial threats to the country as as an additional way of preventing and managing finance-related cybercrime. Some threats the team will attempt to prevent include financial fraud, money laundering, and terrorism financing via the Internet. According to....
The Central Bank of Philippine is in the process of making few regulatory changes to combat money laundering and cyber attacks. The Philippines may soon introduce bitcoin regulations as the country’s central bank decides to tighten its screws around money laundering. The bank is also focused on improving the security of the cyber infrastructure. The South East Asian country of Philippines has suddenly decided to go hard on the money transfer and remittance businesses in the country. The sudden crackdown seems to be connected with the recent report published by Reuters and Fortune which....
The crypto space, long viewed as particularly vulnerable to cyber criminals due to its nascent stage, faces fresh malware threats. A recent joint report from top intelligence agencies in the United States and the United Kingdom underscores this ongoing cyber tug-of-war. The joint advisory, which encompasses a significant international collaboration, alarms the emergence of a […]
Bitcoin could continue playing its global safe-haven hedge role as a Wall Street veteran blasts off Jerome Powell and his pro-inflation policies in his later opinion editorial
The following are the 6 countries, written in descending order, which rank among the most targeted by cybercriminals. Cyber security has become the latest ‘in-word’ around the globe. Putting the verbal fashion aside, organizations and individuals are struggling to protect themselves against online attacks and threats from left, right and center. With the rate of information growing exponentially in value and in volume, cyber risks are increasingly posing serious threat to governments, businesses and economies around the world. Fortunately, experts have found that the growing awareness....