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Navigating the Evolving Landscape of Crypto Crime

Fintech News

The report by Chainalysis provides a deep dive into these changes, highlighting the decline in certain types of crypto crimes and the persistence, if not growth, of others, such as ransomware and darknet markets. In 2023, ransomware payments peaked, breaking past the US$1 billion (SG$1.35 billion) threshold for the first time.

Crime 109
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USD $2.2 Billion Stolen Despite Decline In Global Crypto Crime

Fintech News

From high-profile ransomware attacks and terrorist financing to scams that wiped out millions in savings, global crypto crime has become an urgent concern. Ransomware Hits an All-Time High 2024 also witnessed an unprecedented surge in ransomware attacks globally, with over 5,600 publicly reported cases.

Crime 81
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G7 Set To Oppose Facebook Libra Over Lack Of Regulations

PYMNTS

The draft statement seen by Reuters indicated that any electronic currency system would have to be “appropriately supervised and regulated so that they would not undermine financial stability, consumer protection, privacy, taxation or cybersecurity.”.

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NACHA Talks Faster Payments, CHOICE Act At Capitol Hill Day

PYMNTS

The WannaCry ransomware attack demanded that victims pay ransom in bitcoin. ” He added, “The Consumer protections are equal for same day ACH as they are for normal ACH, so we were able to add speed without sacrificing any protection for consumers.”. Distributed Ledger Technology.

NACHA 45
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Key insights in navigating fraud in open banking

The Payments Association

Data breaches and ransomware attacks were also flagged as significant risks. Fraudsters share information as effectively as we should, emphasised John Erik Setsaas (Tietovery), underlining the necessity for public-private collaboration in combatting these threats.