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®.
Black Friday Scams
The weekend is at the doorsteps. November is ending, and it’s Black Friday. To all shoppers and out there – if a deal is too good to be true, it probably is. I’m leading with a few articles on Fraud to keep the awareness up. They all pretty much boil down to – Do your research, be vigilant, don’t trust everything you see and think about your cyber security. The last one is something that one should regularly incorporate since losing credentials can lead to a lot of trouble. Just by using multifactor identification, you will raise the bar significantly from becoming a victim of illicit use of your credentials.
Below are a few articles from outlets in the UK and USA.
New law to protect personal tech
In another cyber-related story, the government in the UK has issued a new law that shall protect individuals’ devices better from being taken over by hackers. The “Product Security and Telecommunications Infrastructure (PSTI) Bill “. The law requires manufacturers, importers, and distributors of devices that speak “Internet” to meet a new set of tough cyber security requirements to stop attacks against these products. I welcome this approach since antagonists use so many broken devices to get on to networks to do everything from espionage, stealing data, or just using your connected refrigerator in a denial of services attack or to mine cryptocurrency.
For a bit of a more extended read, I warmly recommend the report from Europol that was released on Wednesday. The 3rd annual report from SIRIUS – EU digital evidence situation. The SIRIUS project is aimed to help knowledge sharing on cross-border access to electronic evidence and is co-implemented by Europol and Eurojust in close partnership with the European Judicial Network. It contains case files, stats, and feedback from member state countries, as well as insights into cyber-related matters.
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.