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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.
Rich Instagram user arrested after posts reveal where money allegedly came from – 13 July 2020
Ramon Abbas, lavish lifestyle was funded by hacking schemes that stole millions of dollars from major companies in the United States and Europe. It is alleged that he led a global network that used computer intrusions, business email compromise schemes and money laundering, to steal hundreds of millions of dollars from companies. Investigators seized A$58.8 million and, 13 luxury cars worth $AU9.7 million
Google says it’s banning ads from ‘stalkerware’ services that allow people to spy on and track others – 11 July 2020
In August, Google is barring ads from “stalkerware” services that allow people to spy and track others through their phones without their consent. Ads will no longer be allowed from companies promoting GPS trackers designed to spy on people or surveillance equipment “marketed with the express purpose of spying”.
https://www.businessinsider.com.au/google-banning-ads-stalkerware-spyware-services-2020-7
