News
2015 Saw Evolution in Cybercrime: IRS-CI Chief
By Brian Orsak
printCybercriminals are employing increasingly complex tactics to defraud the U.S. Treasury Department and taxpayers, a top federal investigator said Monday. Echoing a recent report that identified 2015 as a banner year for Internet thieves, IRS Criminal Investigations (IRS-CI) Chief Rich Weber told attendees of an anti-money laundering conference in New York that the agency's investigators believe organized criminal groups have recently stepped up their efforts to bilk governments and individuals online. "Just in the last year, we have seen an evolution of identity theft," said Weber. "Where we used to have street-level crime happening, [there is now a morphing] into...
TO READ THE FULL STORY
Related News
The head of the U.S. tax agency's criminal investigation division for the past five years is leaving for the private sector.
Dutch prosecutors are pursuing as many as 15 cases against individuals suspected of using digital currencies and "tumblers" to conceal the flow of illicit proceeds between online black markets and the mainstream banking system, according to a senior official.
At least 12 financial institutions are investigating suspected compromises of the interbank messaging platforms they use to resolve institutional payments, according to a former federal cybercrime prosecutor.
U.S. financial institutions are reevaluating their cybersecurity controls in light of increasingly complex online attacks aimed at stealing client funds and data, according to experts.
U.S. officials recently warned financial institutions that unprecedented cyberattacks on a global interbank messaging platform could be repeated on a grand scale, leading to billions of dollars of losses and choking off global payments.
Manhattan federal prosecutors on Tuesday disclosed criminal charges against the owner of an illegal Bitcoin exchange and other individuals believed responsible for the largest-ever theft of client data from a U.S. bank.
Steep fines against banks that fail to prevent money laundering are complicating efforts by investigators to suss out cybercrime, a top London police official said Wednesday.
Increasingly vulnerable to sophisticated computer hacking, community banks should reassess their defenses against cybercriminals, U.S. Treasury Department officials told bankers Tuesday.
If you detect even one case of cybercrime at your bank, it's likely that you've only begun to uncover a larger cyberattack, according to panelists at an anti-money laundering conference.