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NewsUAE suffers “250% increase” in cyber attacks this year
Cyber attacks have risen sharply this year, according to Mohamed Al-Kuwaiti, Executive Director of the UAE’s National Electronic Security Authority, CNBC reported.
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US set to overhaul AML legislation to implement new beneficial ownership registry
US Congress looks set to to overhaul anti-money laundering legislation, implementing a requirement for companies to register their true owners for the first time
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Ransomware attack halts classes for 115,000 pupils in Maryland, US
A ransomware attack on a school district in Maryland, US, has halted classes for a reported 115,000 pupils.
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French food retail giant Carrefour fined €3m for GDPR breaches
The French multinational retailer Carrefour has been fined €3m for multiple data protection failings.
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Crypto analytics firm CipherTrace files patents for technology to trace privacy coin Monero
Cryptocurrency risk intelligence and analytics firm CipherTrace has filed two patents for technology to trace transactions for privacy coin Monero (XMR).
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Trump-appointed regulator proposes rule to compel banks to lend to “unpopular” businesses
A US regulator has proposed a new rule aimed at compelling banks to lend to “unpopular” businesses such as oil businesses and gun manufacturers.
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UK businesses face aggregate costs of up to 1.6 billion if no adequacy decision post-Brexit transition period, report finds
The cost to UK businesses of not receiving an adequacy decision from the European Commission could total between £1 billion and £1.6 billion, according to a new report by think tank New Economics Foundation and UCL European Institute.
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Manchester United network suffers “sophisticated” internal cyber attack
On Friday, Manchester United announced that a “sophisticated operation by organised cyber criminals” had occurred. An investigation is underway, but the club said they did not believe that any personal data belonging to employees or customers had been accessed. Impacted systems were immediately shut down to contain the attack.
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Nasdaq to acquire Canadian AML technology firm Verafin in $2.75bn deal
Nasdaq has agreed a $2.75bn deal to acquire Canadian anti money laundering and fraud platform provider Verafin.
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Trump fires CISA Director over statement on US election security
The Director of the Cybersecurity and Infrastructure Security Agency (CISA) was fired by Donald Trump yesterday because he authorised a statement saying that the election was “the most secure in American history.”
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US SANCTIONS: Airbnb admits it may have breached Cuban sanctions; Western Union halts Cuba transactions; Trump imposes fresh restrictions related to China and Iran
AirBnb has admitted it may have breached US sanctions and could face litigation.
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Lagarde hints digital Euro is likely but would take several years due to AML and privacy concerns
Christine Lagarde has said her “hunch” is that a digital Euro will be set up soon but would take up to four years to implement.
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Ticketmaster fined £1.25m over personal data breach
Ticketmaster has been fined £1.25m for failing to keep the personal data of millions of customers secure.
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Canadian privacy watchdog publishes recommendations on regulating use of AI
The Office of the Privacy Commissioner of Canada (the OPC) yesterday outlined recommendations for regulating the use of artificial intelligence, including a rights-based approach.
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Financial crime caseload productivity ‘stagnated or got worse in 2020’, survey finds
Financial crime caseload productivity stagnated or worsened this year with investigators warning they need more adequate technology, training and investment to keep up with the criminals, research has found.
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Latvian bank RIB fined €473k over “irregularities” and inadequate AML
Latvian bank Reģionālā Investīciju Banka (RIB) has been fined €473,076 over fund source detection “irregularities” and inadequate risk management.
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The FTC settles with Zoom after the company ‘misled’ users over encryption and surveillance
The Federal Trade Commission (FTC) has announced a settlement with Zoom, after the company “misled users by touting that it offered ‘end-to-end, 256-bit encryption’ and remote video surveillance.”
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Twitter inches closer to first cross-border GDPR penalty
Twitter is inching closer to becoming the subject of the Irish Data Protection Commission’s first major cross-border GDPR decision.
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Swiss bank Julius Baer agrees to hand over nearly $80m to settle FIFA corruption case
Julius Baer said it has reached an agreement in principle with the US Department of Justice to resolve an investigation into the bank’s role in the FIFA corruption scandal.
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Tim Berners-Lee launches enterprise-friendly decentralised web platform in move to ‘restore power on the web’
Tim Berners-Lee has launched an enterprise-friendly decentralised web platform using the open-source technology, Solid, to “restore power” on the web.
