Security News
To empower its customers in the fight against financial crime, Computer Services has partnered with Featurespace to launch a holistic anti-money laundering solution: WatchDOG AML. WatchDOG AML protects against financial crime by identifying suspicious activity in real-time with an enterprise transaction monitoring system. Using customizable machine learning models that utilize Featurespace's award-winning Adaptive Behavioral Analytics, WatchDOG AML reduces false positives while predicting and adapting to new threats through anomaly detection.
"The traditional processes that banks and other financial institutions employ are a bit resource-intensive and often those processes are manual so they've innovated to add some software modeling in an attempt to draw inferences from patterns that they see in their transactions and in their operations to help inform a potential theft, fraud or money laundering," said Michael Reed, director of the Blockchain Program at Intel. "But even those have high false-positive rates which can be disruptive to their customer relationships and also just cost them more time and money in their operations. Confidential computing is a new tool that banks and other corporations are using to help address their own security challenges. It's an emerging technology that helps secure data while it's in use."
BAE Systems announced a new offering created on Amazon Web Services to deliver complete anti-money laundering regulatory compliance solutions. The solution is supported by the availability, reliability and security of AWS and offers banks and financial institutions the opportunity to quickly stand up an affordable integrated financial crime regulatory compliance solution.
Researchers have trawled the dark web to see how the underground is responding to the COVID-19 pandemic. Researchers from Trustwave have found that the underground mirrors the overground - some people seek to make money from the crisis, others ignore it, and still others offer genuine help, information and advice to forum members.
A 29-year-old Russian rapper who loved to do what rappers do - as in, post photos of himself on social media as he made kissy-kissy with wads of cash or swigged pricey champagne - will be appearing in court in Pennsylvania this week to face charges of money laundering for cybercrooks. His name is Maksim Boiko, also known as Maxim Boyko, "Gangass", or the rapper Plinofficial.
Bitfinex says the payment processor has $880M of the cryptocurrency exchange's “lost” funds. Polish authorities seized $390m of it.
A highly targeted, malware-laced phishing campaign landed in the inboxes of multiple credit unions last week. The missives are raising eyebrows because they were sent only to specific anti-money...
Mimiro (formerly ComplyAdvantage) has raised USD $30 million from investors to accelerate the global expansion of its machine-learning platform for analysing the risk of financial crime. By...
Despite the value of cryptocurrency plummeting since 2017, cybercriminals and rogue nations are still using it to launder funds. One recently discovered scheme designed to evade AML detection is...
The scammers automatically created iOS accounts with valid email accounts, then automatically used stolen cards to buy and resell stuff.