In the “Weekly Round-Up” we summarise and give extra reading suggestions for some of the past weeks financial crime news headlines, powered by Acuminor’s crime universe ThreatView®.
A digital bank robbery
Friday again, and a snowy start to December here in Sweden. The highlights from this week start with the huge digital bank robbery at the beginning of the week when Bitmart virtual currency exchanger suffered a data breach. The theft was pretty straightforward. Steal the private keys to the hot wallet, transfer out funds, swap for another token, and start the cleaning process in an Ethereum mixer. Read a bit more about it below.
Illegal iGaming
Once again, Italian police have shut down gambling operations set up by organised crime/mafia with links to Malta. Two Maltese companies that ran unlicensed have had a monthly turnover of approximately $14 million. This amount is a bit lower than the amount identified in the ongoing Galssia Investigation, where authorities seized $1 billion in assets. Seeing more of these police actions show that using gambling companies as a criminal vehicle is an attractive option for organised crime groups.
UN report on corruption in sport
To continue on a topic that affects betting and gambling, UNODC has released an extensive report on the subject “UNODC Global Report on Corruption in Sport” in this week longer read. Sports manipulation and corruption affect many different actors, all from the induvial sports practitioners, gambling companies’ public organisations and many more in the sports ecosystem. To tackle this problem requires a multidimensional approach with many corporations between all affected parties. So grab the report and cosy down for this week’s long read.
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Until next time, have great weekend!
Johan Landström
Co-founder and CISO Acuminor
About Acuminor
The methods used by criminals is constantly evolving and each organisation faces different risks as a result. With help of expertise and powerful technology, Acuminor’s risk analysis platform provides unique insights into threats and risks from money laundering, terrorist financing and sanction violations. This enables you to know your risks and reduce them before it’s too late
