The hackers behind the massive WannaCry cyberattack have succeeded in extracting some ransom payments from people locked out of their computers. But they don’t yet have dollars to show for it. Source: Hackers Just Stole $66,000 in Bitcoin. Now What? – WSJ All that effort and misery for $66? They must just wanna cry.
Despite new security measures like chips, credit card fraud continues to rise due to online purchases, the Journal
Source: European Commission Strategy on Criminal Justice in Cyberspace Can Move the Debate Forward | Center for Democracy & Technology
A California man named Ronald Charles Reed has been sentenced to prison for partnering with Wells Fargo employees to steal customer data in connection with the bank’s fake accounts scandal, the Journal reported. “Mr. Reed pleaded guilty in March to bank fraud and aggravated identity theft, the U.S. Attorney’s Office said. Mr. Reed, also known…
On Tuesday the US attorney for the southern district of New York unsealed criminal charges against three Chinese hackers who successfully breached the networks of some unnamed Wall Street law firms and obtained confidential information that allowed them to make a $4 million profit, reported the Financial Times. “Once inside, the trio targeted the email…
Five EU countries said they want the European Commission to propose legislation that would make it easier for police to crack through encryption technology. Source: Five member states want EU-wide laws on encryption
The attacks mark a new technique for cybercriminals, who traditionally stole money from consumer banking accounts or hit ATMs with fraudulent cards or other tricks on a single machine. Over the past 18 months, some criminals have turned to bank networks, breaking in and then finding ways to make dozens of machines unload their cash…
The American Banker’s Penny Crosman discusses the use of artificial intelligence (AI) by the Nasdaq exchange to “help it detect market abuse.” The exchange sees 14 million trades per day, an impossible number to review for humans alone. AI provides “the best detection mechanism possible,” said Nasdaq’s head of risk and surveillance.
Tesco Bank’s boss blames “a systematic, sophisticated attack” for the money taken from 20,000 customer accounts. Source: Tesco Bank blames ‘systematic sophisticated attack’ for account losses – BBC News
“The Opinion has created a regime where electronic communication service providers—private, for-profit businesses answerable only to their shareholders—can thwart legitimate and important criminal and national security investigations, while providing no offsetting, principled privacy protections,” the government argued. Source: US renews fight to seize content from Microsoft’s servers in Ireland | Ars Technica UK