Since 2013, when the FBI began tracking business email compromise as an emerging financial cyber threat, organized crime groups have targeted large and small organizations in every U.S. state and more than 100 countries around the world — from nonprofits and well-known corporations to churches and school systems. Losses are in the billions of dollars and climbing. It is noteworthy that BEC is now one of the most common and prolific fraud schemes. With that chilling thought in mind, here are 12 quick ways you can protect your company from a business email compromise scam.Read More
A few months ago, new global regulations were recommended by the Financial Action Task Force (FATF) to help prevent and deter terrorists and criminals from using cryptocurrencies. However, it will take some time before countries adopt these regulations and have proper prevention and compliance programs in place. In the meantime, numerous firms that specialize in blockchain analytics have created software with the focus of preventing, detecting and investigating cryptocurrencies used for terror financing, money laundering, fraud and compliance violations. Here are three firms who should be on your radar because of the fascinating and groundbreaking work they are doing in the world of blockchain analytics.Read More
Modern technology advances quickly. What’s innovative and fresh one day can be quickly outdated and short-lived in just a few months.
As smart devices get smarter, business and industry depend more heavily on them and the data they store, which makes fraud examinations more challenging and complex.Read More
Cryptocurrencies like bitcoin have a pseudo-anonymous nature making them attractive for money laundering, terror financing and other fraudulent activities. Cryptocurrency exchanges, where participants buy, sell and/or trade cryptocurrency for cash or fiat, commonly use a peer-to-peer network to validate transactions which are then posted to a public general ledger aka blockchain. Exchange participants can conduct more secure and anonymous transactions off-chain, which do not publicly broadcast details, to hide beneficial ownership. Cryptocurrency exchanges may or may not follow anti-money laundering (AML) and know your customer (KYC) rules for on-chain transactions. In addition, not all countries agree upon the same AML standards and may not apply them equally. Intergovernmental groups such as the Financial Action Task Force (FATF) have proposed global standards for virtual assets, which include cryptocurrencies, that will be formally adopted in June, to help ensure compliance with AML and counter terrorist financing (CTF) regulations.Read More
A few months ago, my good friend — we’ll call her Betsy — wanted to sell her old computer to help pay for a new one. She’d sold plenty of items online before, so she listed it in a few different popular spots like Craigslist and Facebook Marketplace and waited for the offers to roll in.Read More