The European Union is fast-tracking new sanctions powers to seize the assets of individuals, entities and states suspected of ties to cybercrime after a spate of online attacks encrypted hundreds of thousands of computers and hobbled digital infrastructure in dozens of nations. The "cyber diplomacy toolbox," which is expected to be completed by spring of next year, will give the 28-nation bloc a framework to impose a raft of countermeasures against those involved in cyberattacks, and will include the option of asset freezes and confiscations, an EU official told ACAMS moneylaundering.com on condition of anonymity. Plans for the new sanctions...
Crime syndicates are using credit card records acquired from bank hackers to buy airline tickets for narcotics smugglers, human traffickers and other criminals, a senior Europol official told ACAMS moneylaundering.com.
Cybercriminals have developed sophisticated malware to launch "major and substantive" attacks on large U.K. financial institutions' back-end infrastructure, a national cyber threat assessment said Tuesday.
The world's largest banks are increasingly devoting resources to guarding their infrastructure against large-scale cyberattacks, and installing new controls to prevent hackers from generating fraudulent payment messages to steal from them.
Proposed regulations from the New York State Department of Financial Services and guidance from the Central Bank of Ireland released this month should prod compliance officers to talk more about the growing elephant in the room: cybersecurity.