Cryptocurrency

DOJ Announces National Cryptocurrency Enforcement Team

On October 6, the Department of Justice (“DOJ”) announced the creation of a National Cryptocurrency Enforcement Team (“NCET”).  The DOJ press release is set forth in part below, without further commentary, other than to observe that the NCET’s stated goals are to address issues on which we repeatedly have blogged:  crypto exchangers and their AML obligations; the…
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Ransomware

New Ransomware Guidance Issued

On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued new ransomware guidance, discouraging companies and citizens from paying ransoms. The Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments is the latest step taken by the Biden Administration to curb the increase in ransomware attacks. In…
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Cybersecurity

Infrastructure Bill Allocates Nearly $2 Billion to Cybersecurity 

On Tuesday, the U.S. Senate approved a $1 trillion infrastructure package, which it has passed along to the House for approval. The package includes a variety of bills that allocate spending toward critical infrastructure, including roads, railways, bridges, electric vehicles, and telecom companies. The package also allocates more than $1.9 billion toward cybersecurity. The move…
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2020 News in Review

Week Ending December 28  ICO Warns SolarWinds Victims to Report Breaches  The United Kingdom’s Information Commissioner’s Office (ICO) has issued a warning to organizations compromised by the SolarWinds breach. The breach, which was carried out by Russian hackers, affected more than 18000 organizations worldwide. ICO requires UK data controllers subject to NIS regulations to report…
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What We Can Learn From the SolarWinds Breach

SolarWinds, a network management software company, found itself the direct victim of an insidious malware breach last week that had been in the works for months. The hack involved the installation of malware onto an updated version of their software, which was downloaded by over 18,000 customers, including approximately 421 Fortune 500 companies–and large swaths…
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OCC And Capitol One

OCC Fines Capital One: Key Takeaways

Last year, Capital One experienced one of the largest-ever data breaches of a bank, when a hacker–Paige Thompson–got her hands on the personal information of over 106 million customers and applicants via a misconfigured AWS server. Now, the Office of the Comptroller of the Currency (OCC) has hit the bank with a whopping $80 million…
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ADCG names Sowmya Kandregula to Advisory Board

The Association for Cyber and Data Governance, a professional association that provides data governance, data privacy, data protection, and cyber compliance information and education to professionals in the financial services industry, has appointed  Sowmya Tejha Kandregula to the Advisory Board Member effective immediately. Sowmya Tejha Kandregula, a senior data governance leader with over 14 years of…
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COVIDLAUNDERINGRISKS

COVID, crims and cash: Financial crime teams need to re-think laundering risks

This article is being reprinted by permission from the author. You can view the published article here. If you’re doing AML the same way you were in the pre-COVID world, you’re doing it wrong. Nathan Lynch speaks with some of Australia’s most experienced financial crime experts on the radically changing threat landscape in 2020 —…
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ADCG names OSINT expert, Sandra Stibbards to Advisory Board

Sandra Stibbards, a respected investigative and intelligence expert in diverse subjects such as financial fraud, competitive intelligence, counterintelligence, business espionage, intellectual property, online vulnerabilities and other areas, has been named to the Advisory Board of the Association for Data and Cyber Governance. “We are delighted to have the expertise and guidance of a seasoned professional…
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