All News articles – Page 69
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NewsArrests over alleged fraud in two UK government Covid-19 schemes
A series of arrests have been made over the last week involving suspected fraud connected to Covid-19 government schemes supporting UK businesses.
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NewsUS Treasury warns making ransomware payments could breach sanctions regulations
The US Treasury department has warned that facilitating payments to cybercriminals to remove ransomware from IT systems risks breaching sanctions regulations.
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NewsWhat is the future for the UK’s Unexplained Wealth Orders?
A UK court case earlier this year saw a reversal for the National Crime Agency in an unsuccessful attempt to use Unexplained Wealth Orders to force a suspect to reveal the source of funds. John Binns and Michael Drury explain what this means for the future of UWOs and for reporting bodies.
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NewsAUSTRAC investigates PayPal as AML compliance clampdown continues
Australian enforcement agency AUSTRAC has ordered the appointment of an external auditor to probe anti-money laundering compliance concerns at PayPal.
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NewsNew mechanism for EU data transfers ‘may be ready by Christmas’
A revised mechanism for transferring EU data outside of the EU may be ready by Christmas, according to the EU’s digital chief.
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NewsFashion chain H&M fined $35m for snooping on employees
Fashion chain H&M has been fined $35million for data protection breaches, including recording and sharing private information about hundreds of employees among managers.
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NewsAirbnb admits to ‘technical issue’ that resulted in exposure of users’ private messages
The internal leak exposed Airbnb hosts’ personally identifiable information (PII) to other users.
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NewsSARs system is ineffective at uncovering money laundering, warns United Nations panel
The system under which banks report suspicious activity has uncovered “very few” instances of money laundering, corruption or other financial crimes, a United Nations (UN) panel report has said.
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NewsFresh complaints against Danske Bank push total damages sought to $1.12 billion
More investors and pensions funds are seeking damages against Danske Bank over money laundering claims, bringing the overall figure for damages sought from the institution to $1.12bn.
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NewsBritish MPs write to ministers to demand AML answers as FinCEN Files blame game begins
The chair of a UK parliamentary committee has written to government ministers and watchdog heads after the country’s anti-money laundering controls were put under the spotlight by the FinCEN Files.
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NewsZerologon vulnerability actively exploited, says Microsoft
Microsoft has observed attacks exploiting the serious security flaw dubbed “Zerologon”, the company’s security intelligence team reported in a tweet yesterday.
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NewsAustralian banking giant Westpac agrees to pay record A$1.3bn fine for AML failures
Australian banking giant Westpac has agreed to pay A$1.3bn ($900m in US dollars) after admitting money laundering failures.
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NewsUK government announces new verification powers for Companies House in AML plan
The UK’s official company register will be required to verify company directors’ identities before they can be appointed, under plans announced by the government.
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NewsCyber attack linked to death of woman at hacked German hospital
A woman has died in Germany after a cyber attack at the Düsseldorf University Clinic (DUC) caused her to be turned away for emergency medical treatment at the hospital earlier in September.
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NewsUS bank State Street hit with $1.24m AML fine in Australia
US banking giant State Street has been fined $1.24million in Australia for failing to report international fund transfers on multiple occasions.
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NewsYoutube faces £2bn UK court battle over alleged children’s privacy breach
YouTube is facing a legal battle over claims it is breaching millions of young people’s privacy and data rights.
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NewsFinCEN proposes change to US banking AML requirements
The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has proposed changes to anti money laundering (AML) requirements to make risk-assessments an explicit obligation for financial institutions.
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NewsFATF publishes ‘red flag’ money laundering indicators for cryptocurrencies
The Financial Action Task Force (FATF) has outlined “red flag indicators” to help financial institutions detect money laundering and terrorism financing linked to virtual assets.
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NewsDeutsche Bank agrees to pay $583k to settle sanctions violation case
The United States Treasury Department has announced that Deutsche Bank will pay $583,100 in settlements for “apparent violations of Ukraine-related sanctions regulations.”
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NewsA new role for the cybersecurity industry: Business Information Security Officer
Traditionally, those working in the cybersecurity industry have been technically savvy and laser-focused on tools and solutions. At a time when the whole enterprise – all its data and all its people – were safely housed in a corporate office and on the corporate network, this worked fine.
