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NewsStandard Chartered AML failures in Guernsey revealed by regulator
Standard Chartered’s Guernsey subsidiary transferred assets worth $1.4billion to another jurisdiction where there was concern about tax evasion, the Guernsey Financial Services Commission (GFSC) said.
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UK sanctions 22 involved in corruption in drive against ‘dirty money’
The United Kingdom government has announced it has imposed sanctions on 22 individuals in various countries around the world involved in serious fraud and corruption
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Major UK construction companies work together to counter cyber attacks
The cyber security heads of major contractors working in the UK are drawing up guidance for dealing with online attacks and other cyber security matters, especially when working in joint ventures.
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El Salvador passes privacy act
Members of El Salvador’s parliament have unanimously voted to approve the Personal Data Protection Law.
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Cloud security switch will increase cyber security spending to $200 billion a year by 2024, says BI
The switch to cloud security will increase global cyber security spending to $200 billion a year by 2024, according to a new report by Bloomberg Intelligence (BI)
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Two cryptocurrency exchanges shut down amid fraud investigations in Turkey
Two cryptocurrency exchanges have closed in a week and are the subject of fraud investigations in an apparent clampdown in Turkey.
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EDPS urges ban on facial recognition systems in public spaces
The European Data Protection Supervisor (EDPS) has warned that the European Commission’s proposed law to regulate Artificial Intelligence does not go far enough and should include a temporary ban on the use of facial recognition systems in public.
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Energy industry provider Gyrodata hit by data breach
Global energy industry service provider Gyrodata this week began sending letters to current and former employees whose information may have been compromised in a ransomware attack.
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US Justice Department forms taskforce to tackle ransomware attacks
The United States’ Justice Department has formed a special taskforce to tackle the increasing number of ransomware cyber-attacks.
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Canadian government confirms plans for publicly accessible beneficial ownership registry
The federal government in Canada has confirmed plans for a publicly accessible register of corporate beneficial owners in a bid to tackle money laundering, fraud and tax evasion.
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Facebook seeks to downplay data breach as Irish DPC launches probe
An internal memo made public has revealed how Facebook plans to deal with the leaking of account details from 533m users on to a hacking forum. Tactics including passing off the incident as normal.
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European Commission outlines restrictions of AI use in draft regulation
The European Commission has published its final draft proposal for the legal regulation of artificial intelligence, proposing a risk-based system and the banning of “unacceptable uses”
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Security threat warrants data retention in France, Supreme Court rules
France’s Council of State has ruled that the existing threat to national security currently justifies the generalised retention of telecom connection data.
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EU to establish Cybersecurity Competence Centre in Bucharest
The European Union will seek to boost security of the internet and other critical network and information systems by setting up a Cybersecurity Competence Centre in the Romanian capital of Bucharest.
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Business Update: Privacera CFO Linda Khachooni Named a Top 25 Women Leader in Cybersecurity
Khachooni recognized for her pivotal role in driving stellar growth trajectory for data security and data governance leader (Press Release)
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UK taskforce to probe how a digital pound could comply with AML and data protection rules
A new United Kingdom taskforce and engagement forum set up to explore a digital pound will examine how data privacy can be protected under the initiative while anti-money laundering (AML) requirements are still met.
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Six arrested in Hong Kong in $322 million laundering case
A money laundering syndicate that allegedly made thousands of suspicious transactions totalling $322million in total has been “smashed” and six people arrested, according to the Hong Kong government.
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TikTok faces claim for billions in UK child privacy lawsuit
Video-sharing app TikTok and its Chinese parent ByteDance is facing a damages’ claim worth billions of dollars in a British court case over allegations they illegally harvested private data of millions of European children.
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Apple to roll out App Tracking Transparency privacy feature next week
Tech giant Apple has confirmed it will start rolling out an update to its iPhone operating System, including its App Tracking Transparency (ATT) feature next week.
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Giant US insurer warns breach leaked customers’ driving license numbers
Major US car insurer Geico has sent a letter to policy holders to tell them of a hack which exposed their driver’s licence number to cyber-attackers.
