#RISK Intelligence Archive – Page 120
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NewsWarning issued on LockBit
The Australian Cyber Security Centre (ACSC) has given out an alert about LockBit 2.0 after an increase in reports from organisations in the country impacted by the ransomware.
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NewsArdagh reveals cost of cyber-attack
A cyber security incident in May cost global packaging giant, the Ardagh Group, $34m (€28.9m) as of 30 June. An investigation continues.
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NewsCrypto fraud and asset recovery network set up
A group of lawyers, forensic accountants, corporate intelligence and asset recovery experts have launched the Crypto Fraud and Asset Recovery network (CFAAR) in the UK to, they say, place the country centre stage for resolution of global crypto disputes.
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NewsCalls for US real estate shake up to counter money laundering
The US government should comprehensively reform regulations covering the property market’s ‘gatekeepers’ to combat the billions laundered through the sector, according to a report by the Global Financial Integrity think tank.
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NewsUS lawmakers pressure Facebook for details on disabling research accounts
In a letter to Facebook Chief Executive Mark Zuckerberg, US lawmakers asked for details on the disabling of researchers’ accounts.
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NewsKentucky University announces data breach
A data breach at the University of Kentucky has exposed the personal information of its students and staff.
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AnalysisWhy Most CCPA Cases Will Fail: Five Hurdles Plaintiffs Must Clear
The California Consumer Privacy Act (CCPA) is a landmark U.S. privacy law with many laudable features. But the law’s private right of action is not among its strongest provisions.
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NewsStarHub lets customers know of data breach
Singapore telecom StarHub says it is taking a series of actions to counter any harm from customers’ private information being on a data dump website.
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NewsTech big names join US government’s cyber-security drive
Microsoft, Google Cloud, Amazon Web Services are among the private companies which have signed up to the Joint Cyber Defense Collaborative initiated by the US government’s Cybersecurity and Infrastructure Security Agency (Cisa).
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NewsUAE and China pledge AML/CFT cooperation
The anti-money laundering agencies of the United Arab Emirates and China have signed a Memorandum of Understanding (MoU) to boost efforts in the anti-money laundering and combatting the financing of terrorism (AML/CFT) field.
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NewsSFO launches money laundering and fraud probe into care home investor
The Serious Fraud Office (SFO) in the UK is investigating entrepreneur Gavin Woodhouse plus individuals and companies associated with him for suspected money laundering and fraud.
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NewsSyrian ‘bribed to win lucrative Venezuelan contracts’
Naman Wakil of Syria conspired with others to bribe officials at Venezuela’s state-owned energy and food companies to obtain contracts worth at least $250m (€211m), a Miami court was told.
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NewsTwo ex-Wall Street bank traders convicted of precious metals’ fraud
A US jury has found two commodity traders guilty of manipulating the precious metals futures market by routinely making large ‘spoof’ orders, the practice of pushing market prices up or down by placing an order for a contract with no intention of executing it.
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NewsNamibia moves to introduce unexplained wealth orders
The Financial Intelligence Centre (FIC) in Namibia is working on introducing unexplained wealth orders to help prevent financial crime.
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NewsFlipkart faces huge fine for ‘breaking investment laws’
India’s financial crime agency has reportedly asked e-commerce giant Flipkart and others to explain why they should not face a INR100bn ($1.34bn, €1.13bn) penalty for allegedly violating foreign investment laws.
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NewsDeliveroo fined for privacy and transparency breaches in Italy
Italian data protection authority Garante has imposed a €2.5m ($3.0m) financial penalty on food delivery company Deliveroo for disproportionate collection of workers’ data and lack of transparency in use of algorithms.
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NewsEx-lawyer jailed in US for fraud and money laundering conspiracy
A judge in Colorado has imprisoned former California attorney David Kaplan for 36 months after he admitted his part in a conspiracy to commit wire fraud and money laundering.
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NewsPayroll boss sentenced for laundering $1bn-plus
Businessman Michael Mann has been jailed after admitting laundering more than $1bn (€845m) stolen funds from employers, employees, financial institutions and financing companies in the US over three years.
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NewsBritish banks ‘failing to fully support fraud victims’
Some UK banks are providing insufficient help to customers who fall victim to financial scams, leaving them at risk of losing more money in recovery fraud, according to consumer rights’ organisation Which?
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NewsZimbabwe’s controversial cyber security and privacy bill sent back
After passing Zimbabwe’s Senate without debate, the government’s Cyber Security and Data Protection Bill has been referred back to the upper chamber.
