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Twitter hackers shifting money in bitcoin wallets leave digital trail – 17 July 2020
A Twitter breach allowed hackers to tweet a Bitcoin spam message from high profile accounts such as Elon Musk, Jeff Bezos and Bill Gates to all their followers. They posted a double-your-money bitcoin scam, alongside a bitcoin wallet code for people to drop their digital currency into. The wallet received more $172,000 within a matter of hours. Soon after, the funds started moving around wallets.The company has also revealed personal information of some of the world’s wealthiest people was leaked during the attack.
The battle to keep up with nimble cyber-crims – 16 July 2020
ASIC is concerned at the number of transactional criminals who can be based anywhere in the world. They are capable of switching off a particular scam quickly, if they discover law enforcement bodies across the globe have discovered it.
https://www.bankingday.com/battle-to-keep-up-with-nimble-cybercrims
ASIC to fast-track Westpac probe, prepares for wave of wind-ups – 13 July 2020
ASIC’s chief enforcer has promised to expedite its investigation into Westpac’s handling of alleged money laundering breaches, as a similar investigation into Commonwealth Bank, drags on three years after the scandal was first made public. The investigations focus on potential breaches of continuous disclosure obligations in relation to the money laundering breaches admitted by Commonwealth Bank in 2018 and Westpac in 2020.
COVID heightening bank vulnerability to cyber attack – 13 July 2020
The “large-scale shift” to digital banking and remote work off the back of the COVID-19 crisis, has heightened the banking sector’s exposure to cyber-attack, with wire fraud transfer remaining the most common. Cyber risk awareness programs and mitigation measures are required now, more than ever.
