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British Banks Upgrade Campaign Against Cybercriminals, Money Mules: Report

By Koos Couvée

U.K. lenders have begun sharing information on suspicious transfers in real time and increasingly analyzing nonfinancial data to stop cybercriminals and others from laundering profits through money-mule accounts, a London-based policy center has found. In an 80-page report, the Royal United Services Institute, or RUSI, said the more sophisticated investigative techniques and data-sharing methods some banks now deploy could play a key role in tracking down the perpetrators of online intrusions, malware infections and distributed denial-of-service attacks, as well as the networks of third-party accounts they use to move funds. "The use of money-mule accounts is ubiquitous in cybercrime involving...

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