Smarter Tech Necessitates Smarter Fraud Examiners

Smarter Tech Necessitates Smarter Fraud Examiners

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 What’s innovative and fresh one day can be quickly outdated and short-lived in just a few months.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.

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Will Adoption of Global Regulations Prevent or Deter Terrorists From Using Cryptocurrencies?

Will Adoption of Global Regulations Prevent or Deter Terrorists From Using Cryptocurrencies?

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.

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Another Year, Another Record-Breaking Number of Internet Crimes

Another Year, Another Record-Breaking Number of Internet Crimes

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.

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Data Breaches: How to Make a Difference in 2019

Data Breaches: How to Make a Difference in 2019

The Identity Theft Resource Center (ITRC) has been analyzing data breaches since 2005 to better understand the importance of cybersecurity and to assist victims of these incidents. Consumers and companies are suffering from these breaches in the business, travel, financial, healthcare and more industries. In their most recent report analyzing the data from 2018, they evaluated more than 1,200 data breaches that were publicly disclosed. Last year large corporations, government agencies and online businesses all fell victim to data breaches. These breaches exposed more than 446 million records of consumer personal identifying information (PII). With companies and consumers suffering from the impact of these incidents, it’s time to focus on what professionals in the industry can do to help.

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What the Marriott Data Breach Means for Individuals, the U.S. and Companies Worldwide

What the Marriott Data Breach Means for Individuals, the U.S. and Companies Worldwide

The business sector tops the Identity Theft Resource Center’s industry facing the most data breaches for the sixth consecutive month. This time, it’s because of the massive Marriott International and Starwood Hotels and Resorts data breach that affected more than 500 million customers.

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