Tagged: cybercrime

Surfshark Cybercrime Study Reveals Most Victimized Nations; UK, USA and Canada Top 3

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Cybercriminals are finding the most victims in the West, according to a study by cybersecurity company Surfshark. The UK tops the list, followed by the US, Canada, Australia, and Greece. Canada had 174 victims per 1M internet users in 2021, roughly eight times less than… Read More

LexisNexis Cybercrime Report 2021 Reveals Mobile Fraud Surge

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LexisNexis Risk Solutions this week released the results of its latest Cybercrime Report, an analysis of transaction data from the LexisNexis Digital Identity Network in the second half of 2021. The report shows a significant shift to mobile fraud over the last four years, with… Read More

Digital Bank N26 Shares Lessons Learned, Future Plans Including Crypto

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As the company enters its tenth year in operation, digital bank N26 has grown and adjusted with, the times. The company was founded in 2013 by Valentin Stalf and Maximilian Tayenthal and launched their first products in 2015. In 2016 they secured a full European… Read More

Binance Joins the National Cyber-Forensics and Training Alliance

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Binance, one of the leading blockchain and crypto infrastructure providers, is pleased to confirm that it has officially joined the National Cyber-Forensics and Training Alliance (NCFTA), a nonprofit corporation primarily focused on identifying, validating, mitigating, and neutralizing cybercrime threats. Binance reports that it’s the first… Read More

Digital Identity Verification Firm Trulioo Shares Common Use-Cases for ID Verification

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Trulioo, the international identity verification firm, notes that ID verification has three primary use cases: “achieving compliance requirements, reducing fraud and building trust and safety.” Trulioo explains in a blog post that depending on your business and where you operate, you might “prioritize a particular… Read More

HYPR Explains How their True Passwordless Security Helps Enable Compliance with Salesforce MFA Requirement

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Salesforce is reportedly requiring clients to implement multi-factor authentication or MFA by February 2022. Salesforce, the world’s largest customer relationship management (CRM) software provider, assists organizations with increasing their revenue and enhance their customer experience. But the vast quantity of high-quality data (like personal and… Read More

ID Verification Platform Trulioo Reports that 87% of Compliance Professionals Say Digital Identity More Important Now Following COVID Outbreak

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Following a massive $394M Series D round earlier this year to establish the foundation for greater financial inclusion, international ID verification Fintech Trulioo is “strengthening pathways to create a more inclusive and trust-oriented digital economy,” according to an update shared with CI. With the ability… Read More

Survey by UK Fintech Modulr Reveals that Consumers Feel More at Risk of Becoming Targets of Online Fraud

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UK-based Fintech firm Modulr notes that unless you’ve been living in a completely different digital dimension, you can’t have “failed to hear about the data breaches and high-profile phishing scams that have been hitting the recent headlines.” The team at Modulr writes in a blog… Read More

Blockchain Analysis Firm Chainalysis Acquires Excygent, a Company Assisting in Cybercrime Investigations

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Blockchain analysis firm Chainalysis reveals that it’s acquiring Excygent, a specialized professional services company that helps government agencies with cybercrime investigations, data processing, and lead generation. Chainalysis has collaborated with the Excygent team in order to support government agencies in investigating various high-profile cyber cases,… Read More

Cybersecurity Expert Comments on Crypto Transactions, Responsibilities of US Govt, Private Sector to Defend Information, Networks

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Carole House, Director of Cybersecurity with the White House National Security Council, recently discussed online security issues at the FinCrime Virtual Week. Blockchain security firm CipherTrace notes in a recent update that headlines such as the Colonial Pipeline Ransomware attack indicate that cybercrime is “on… Read More

Changing UK Cybercrime Patterns Outlined in PPC Shield Report

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British individuals and businesses have been scammed for £5.7m in losses from just under 15,000 reported cybercrime incidents so far in 2021, research from click fraud prevention firm PPC Shield reveals. Malicious hacking, fraudulent use of social media accounts and email scams are the top methods, accounting for… Read More

Kaspersky Report Parses African Cybercrime Trends

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New data released this week by Kaspersky shows even Africa is not immune from cyber attacks. While not considered a hotbed of financial opportunity, many African countries are seeing attacks at rates similar to the global average of one out of every 10 computers in… Read More

FinCEN Issues Very First Priorities List for AML/CFT Policy, Includes Use of Crypto for Ransomware Payments, Money Laundering

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On June 30, 2021, the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes, issued its first… Read More

Nearly 75% of Financial Institutions in US, UK Reveal there’s an Increase in Cybercrime Following COVID Outbreak: Report

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Almost three-quarters or 75% of financial institutions have reported an increase in cybercrime activities since the Covid-19 outbreak (around February 2020), according to a survey released by BAE Systems. The survey of 902 banking institutions and insurance providers, based in the US and the UK,… Read More

Cost of Cybercrime to Surpass $1 Trillion in 2020 due to Global Shift to Remote Working Environment following COVID-19 Outbreak: Report

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The global shift by individuals and organizations towards working from home during the COVID-19 pandemic has led to a significant increase in the overall costs related to cybercrime – which is on track to surpass $1 trillion this year for the very first time ever…. Read More

Web 3.0 Projects Mysterium Network and Sentinel Form Alliance to Protect Users from Data Hacks, Cybercrime, Surveillance Activities

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Web 3.0 related projects Mysterium Network and Sentinel have established an alliance that will focus on protecting Internet users from data hacks, cybercrime, and excessive surveillance activities while they’re conducting activities online. According to a release, the new “decentralized” VPN (dVPN) alliance is currently open… Read More

US Department of Treasury’s Office of Foreign Assets Control Warns that Paying Perpetrators of Ransomware Attacks May lead to $20 Million Fine

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Companies or businesses that have been targeted with malicious ransomware attacks might potentially face fines as high as $20 million if they agree to the demands from extortionists, particularly the ones who have been listed on financial crime sanctions lists, the US Department of Treasury… Read More

India’s National Security Adviser Warns that Fraudulent Activities have Increased as More Consumers are Conducting Online Payments

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Ajit Doval, the National Security Adviser (NSA) to the Prime Minister of India, recently warned that financial crime and fraudulent activities have increased significantly and could continue to rise, because more consumers are conducting transactions online following the COVID-19 outbreak. Doval said that the country… Read More

Hackers are Using Malicious, Automated Scripts to Attack Computer Systems Every 39 Seconds, Digital Asset Security Firm NGRAVE Reveals

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NGRAVE, a digital asset security company that claims it has developed the world’s most secure cryptocurrency hardware wallet, reveals that hackers regularly use automated scripts (malicious computer code) that allow them to attack computer systems every 39 seconds (on average 2,244 times per day). The… Read More

World Economic Forum Recommends Adopting Clear and Actionable Cybersecurity Guidelines for Fintech Firms

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The World Economic Forum (WEF) Fintech Cybersecurity Consortium was established in 2018. It aims to help protect the global financial ecosystem, which now includes large organizations with “high levels of cybersecurity maturity” and fast-growing Fintech firms that are offering emerging technologies such as AI, Big… Read More

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