Security News
The collapse of the Silicon Valley Bank on March 10, 2023, has sent ripples of turbulence throughout the global financial system, but for hackers, scammers, and phishing campaigns, it's becoming an excellent opportunity. An attack already seen in the wild is from BEC threat actors who are impersonating SVB customers and telling customers that they need payments sent to a new bank account after the bank's collapse.
Money Lover is a finance app allowing users to manage their expenses and budgets that has been downloaded five million times on the Play Store, with the app also available for iOS and Windows. Money Lover allows users to create "Shared wallets" with specific users, like family members or coworkers, to log transactions to collaborate in expense logging and monitoring.
A Russian national on February 7, 2023, pleaded guilty in the U.S. to money laundering charges and for attempting to conceal the source of funds obtained in connection with Ryuk ransomware attacks. "Between at least August 2018 and August 2021, Dubnikov and his co-conspirators laundered the proceeds of Ryuk ransomware attacks on individuals and organizations throughout the United States and abroad," the Department of Justice said.
Russian citizen Denis Mihaqlovic Dubnikov pleaded guilty on Tuesday to laundering money for the notorious Ryuk ransomware group for over three years. The guilty plea comes after Dubnikov was arrested in Amsterdam in November 2021 and extradited to the United States in August 2022.
Here's everything you need to know about what services need an AML revamp and how they should go about it. Gather enough data as fast as possible, and you can instantly spot bad actors and block them out, and move to more extensive KYC procedures to ensure their names do not appear on any AML lists and gauge the true intentions of suspicious users, saving money on unnecessary KYC and AML screenings.
Just another obscure warrantless surveillance program. US law enforcement can access details of money transfers without a warrant through an obscure surveillance program the Arizona attorney general's office created in 2014.
The U.S. Department of Justice arrested and charged Russian national Anatoly Legkodymov, the founder of the Hong Kong-registered cryptocurrency exchange Bitzlato, with helping cybercriminals allegedly launder illegally obtained money. Because of "Deficient know-your-customer procedures, Bitzlato allegedly became a haven for criminal proceeds and funds intended for use in criminal activity," the DOJ said.
In brief Business email compromise continues to be a multibillion-dollar threat, but it's evolving, with the FBI and other federal agencies warning that cybercriminals have started using spoofed emails to steal shipments of physical goods - in this case, food. Along with the Food and Drug Administration's Office of Criminal Investigations and the US Department of Agriculture, the FBI said several US food manufacturers have already fallen victim to scams, many of which involved fake orders for hundreds of thousands of dollars worth of a single item: powdered milk.
A previously undocumented Android malware campaign has been observed leveraging money-lending apps to blackmail victims into paying up with personal information stolen from their devices. The money lending applications, instead, are available through unofficial app stores or sideloaded to the phones via smishing, compromised websites, rogue ads, or social media campaigns.
Regular password resets mean a stolen password is suitable for a limited time. When a breached password is found, forcing a password reset ensures users do not continue to use insecure passwords.