The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

Ransomware attacks rise as criminals target remote working

ransomware attacks rise as criminals target

Ransomware attacks are getting bigger and bolder at a time where many organisations are implementing WFH policy.

Cyber criminals look to spread their file-encrypting malware while many people are working from home. Ransomware attacks have surged during the first half of this year as many businesses are implementing WFH policy due to Covid-19 pandemic. 

A report published on malicious activity throughout the year by Skybox Security’s says ransomware has thrived in the first half of the year, with a 72% increase in new samples of the file-encrypting malware.

While the switch to home working has allowed many organisations and workers to remain productive, it has also brought additional risk; security vulnerabilities in remote-desktop protocols.With the use of weak passwords by staff cyber attackers paved an additional way into networks.

As the remote workers are not trained about cyber security, the attack surface for cyber criminals increased.  

Ransomware has surged, with security departments unable to fully defend networks against attacks. Majority of times, ransomware is so brutally successful at locking down vast swathes of infrastructure of the network, the victim feels as if the only option is to pay the ransom. This can cost hundreds of thousands of dollars in bitcoin.

So the need of the hour is to take proper preventive measures to protect your businesses and remote staff from cybercriminals. Educate your remote staff about cybersecurity through virtual training sessions. 

Related Posts

News

Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

Singapore and Europe have emerged with enhanced AML requirements for corporate services businesse...

Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively Explore More

News

Cyberhack Discloses Data on Over 600,000 Medicare Beneficiaries

A data breach in May 2023 exposed the personal information of 612,000 Medicare beneficiaries, inc...

Cyberhack Discloses Data on Over 600,000 Medicare Beneficiaries Explore More

News

Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance

The Reserve Bank of Zimbabwe (RBZ) Deputy Governor disclosed that most banks are losing clients d...

Reserve Bank of Zimbabwe Reveals Most Banks Lose Correspondent Deals Due to AML Non-compliance Explore More

News

India to Introduce Physical Cryptocurrency Bank Branches

India has been rapidly adopting the changes in the digital world and introducing physical banks f...

India to Introduce Physical Cryptocurrency Bank Branches Explore More

News

US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case

Criminal charges are issued by the US Justice Department for the first time for transmitting more...

US Launches First Criminal Prosecution for Alleged Cryptocurrency Sanctions Case Explore More

News

Ransomware attack on insurance MSP Xchanging affects customers

DXC Technology, a global IT solutions provider reported a ransomware attack to the US Exchange Co...

Ransomware attack on insurance MSP Xchanging affects customers Explore More

News

State Street Bank fined $1.24 million for breaching AML laws

The US-based State Street bank has been hit with million-dollar money laundering fine. The Austra...

State Street Bank fined $1.24 million for breaching AML laws Explore More

News

New KYC and AML Compliance May Violate Privacy Laws in South Korea

The South Korean government is considering implementing KYC and AML compliance in the region, but...

New KYC and AML Compliance May Violate Privacy Laws in South Korea Explore More

News

US Ambassador Highlights how Liberia can Improve its AML/CFT Laws

Monrovian embassy of the United States’s ambassador, Micheal A. McCarthy, supports the National R...

US Ambassador Highlights how Liberia can Improve its AML/CFT Laws Explore More

News

Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens

The Department of Homeland Security (DHS) is taking back its decision to implement a policy that ...

Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens Explore More

News

US Financial Authority Removes Provisional Crypto AML Regulations

The United States government removed two provisions from the National Defence Authorisation Act (...

US Financial Authority Removes Provisional Crypto AML Regulations Explore More

News

New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform

New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...

New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform Explore More

News

Swiss FinTech Firm LeonTeq ‘Strongly Refutes’ Allegations of Suspicious Transactions

Swiss FinTech firm LeonTeq has rejected allegations of suspicious transactions with possible link...

Swiss FinTech Firm LeonTeq ‘Strongly Refutes’ Allegations of Suspicious Transactions Explore More

News

UK’s financial system claims to survive Coronavirus hit

Britain’s banks inform investors that they are optimistic that their balance sheets are strong en...

UK’s financial system claims to survive Coronavirus hit Explore More

News

Members of Spalding Club Charged for Money Laundering Through Investment Scheme

Lincolnshire police reported suspected fraud cases in connection with a trading-based investment ...

Members of Spalding Club Charged for Money Laundering Through Investment Scheme Explore More

News

Turkey Set to Toughen AML Laws on Crypto Asset Platforms

Turkey is designing new and stricter obligations to prevent crypto-asset platforms from money lau...

Turkey Set to Toughen AML Laws on Crypto Asset Platforms Explore More

News

UAE Regulatory Authority Enforces Import Invoice Verification to Fight Trade-Based Money Laundering

United Arab Emirates (UAE) has implemented the latest compliance regulations for importing commod...

UAE Regulatory Authority Enforces Import Invoice Verification to Fight Trade-Based Money Laundering Explore More

News

Qatar to Develop National Strategies for Combating Financial Crimes

Qatar has developed vigorous strategies to combat expected financial crimes during the FIFA World...

Qatar to Develop National Strategies for Combating Financial Crimes Explore More

News

Central banks urged to introduce digital alternatives to cash

According to a recent report from Positive Money, Central banks across the globe should issue a d...

Central banks urged to introduce digital alternatives to cash Explore More

News

FinCEN Highlights That AML/CFT Regulation Requires Transformation to Fight Modern Crimes

The acting director of FinCEN has highlighted the fact that the existing AML/CFT regulatory frame...

FinCEN Highlights That AML/CFT Regulation Requires Transformation to Fight Modern Crimes Explore More

News

Portuguese Banks Restrict Services for Crypto Exchanges, Citing Risky Grounds

Portuguese banks have restricted services of multiple crypto exchange firms operating in the coun...

Portuguese Banks Restrict Services for Crypto Exchanges, Citing Risky Grounds Explore More

News

Russian Government Bans New Crypto Website for ‘Promoting Money Laundering’

The Russian government has banned the new website Bits.media for allegations of promoting illicit...

Russian Government Bans New Crypto Website for ‘Promoting Money Laundering’ Explore More

News

Iran’s Finance Ministry Releases List of Individuals Suspected of Money Laundering

The Finance Ministry of Iran has released its first list of individuals suspected of having links...

Iran’s Finance Ministry Releases List of Individuals Suspected of Money Laundering Explore More

News

Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion

A group of 22 individuals were arrested by authorities in Macau and HK for suspicions of being in...

Macau Police Arrests Cross-border Money Laundering Group for Illicit Financing of HK1.1 Billion Explore More

News

OFAC Sanctions Cryptocurrency Mixing Service for Allegedly Sourcing Money Laundering

OFAC has imposed economic sanctions on cryptocurrency mixing service Tornado Cash for allowing cu...

OFAC Sanctions Cryptocurrency Mixing Service for Allegedly Sourcing Money Laundering Explore More

News

PBOC Issues New Financial Rules to Curb Money Laundering Risks

The People’s Bank of China (PBOC), The China Banking and Insurance Regulatory Commission, a...

PBOC Issues New Financial Rules to Curb Money Laundering Risks Explore More

News

United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...

United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities Explore More

News

Swedish Bank SEB Accused of Money Laundering

Investigations done by the news agency TT and broadcaster SVT revealed that 25 SEB clients record...

Swedish Bank SEB Accused of Money Laundering Explore More

News

Sri Lanka’s blockchain KYC platform to initiate ‘Shortly’: Central Bank

According to Daily Mirror Online, the Monetary Board has now finalized three software development...

Sri Lanka’s blockchain KYC platform to initiate ‘Shortly’: Central Bank Explore More

News

Australia’s Money Laundering Failures Increase Risk of Russia Sanctions

Australia is facing embarrassment on the possibility of being placed on the FATF’s “grey list” fo...

Australia’s Money Laundering Failures Increase Risk of Russia Sanctions Explore More

News

Credit Union Identity Theft Investigation Handed Over to Federal Prosecutors

NY Police have handed over the investigation of a $100,000 ID theft ring allegedly involving a fo...

Credit Union Identity Theft Investigation Handed Over to Federal Prosecutors Explore More

News

Nigeria Employs New BOR Initiative to be Removed from FATF’s Gray List

A Beneficial Ownership Register (BOR) has been inaugurated by the Corporate Affairs Commission (C...

Nigeria Employs New BOR Initiative to be Removed from FATF’s Gray List Explore More

News

FATF to Blacklist Uganda Over Money Laundering

The Executive Director of the Finance Intelligence Authority, Sydney Asubo stated that the FATF h...

FATF to Blacklist Uganda Over Money Laundering Explore More

News

Global regulators propose stricter scrutiny of derivatives clearers amidst deadlock with banks

LONDON – Global regulators have suggested greater scrutiny of clearinghouses managing trill...

Global regulators propose stricter scrutiny of derivatives clearers amidst deadlock with banks Explore More

News

Nepal Approves Anti-Money Laundering Bill to Comply with International Standards

Nepal endorsed an anti-money laundering bill as the initial step to combat financial crime and en...

Nepal Approves Anti-Money Laundering Bill to Comply with International Standards Explore More

News

Bahrain sentences three money-laundering suspects to prison

Bahrain fined three suspects of $9 million and sentenced them to prison in the Future Bank case. ...

Bahrain sentences three money-laundering suspects to prison Explore More

News

UK Launches New Crypto Asset Promotion Rules

The UK’s latest obligations on the promotions of the crypto service providers came into force thi...

UK Launches New Crypto Asset Promotion Rules Explore More

News

EU Endorses New Crypto Tax Data Sharing Rules

Strict obligations are set to be implemented in the EU’s digital assets industry. Tax authorities...

EU Endorses New Crypto Tax Data Sharing Rules Explore More

News

Fraudsters Seek Fake COVID Test Reports as New Travel Restrictions Roll Out

As the new travel restrictions are imposed to omit the spread of the coronavirus, the fraudsters ...

Fraudsters Seek Fake COVID Test Reports as New Travel Restrictions Roll Out Explore More

News

FATF Withdraws Switzerland From AML Enhanced Measures List

The Financial Action Task Force (FATF) removed Switzerland from the enhanced money-laundering com...

FATF Withdraws Switzerland From AML Enhanced Measures List Explore More

News

FBI Springfield Warns of Growing Fraud Targetting the Elderly

The FBI has warned people of growing elderly fraud.  As per the Internet Crime Complaint Center&#...

FBI Springfield Warns of Growing Fraud Targetting the Elderly Explore More

News

New Zealand’s FMA Issues New ID Verification Guideline

A new explanatory note has been issued by New Zealand identifying the sources of information that...

New Zealand’s FMA Issues New ID Verification Guideline Explore More

News

NYDFS States Signature Bank’s Closure Was Not Linked to Crypto

According to the head of NYDFS, the decision to close Signature Bank last month had nothing to do...

NYDFS States Signature Bank’s Closure Was Not Linked to Crypto Explore More

News

Phishing Scam affects thousands of Banking App users

Thousands of customers have been exploited by a fake mobile banking app. The customers were sent ...

Phishing Scam affects thousands of Banking App users Explore More

News

United Nations Calls for a Pact to Fight Financial Crimes

United Nations’ panel of experts has called on the governments around the world to take part in e...

United Nations Calls for a Pact to Fight Financial Crimes Explore More

News

Russian Central Bank Still Saying “No to Use of Crypto in Settlements”

Russia’s Central Bank has put another wrench in the pro-business Ministry of Finance’...

Russian Central Bank Still Saying “No to Use of Crypto in Settlements” Explore More

News

South African Government Passes Key AML and CFT Laws to Fight Financial Crimes

South African government passes two significant laws to implement Anti Money Laundering and Count...

South African Government Passes Key AML and CFT Laws to Fight Financial Crimes Explore More

News

Cyprus Securities and Exchange Commission Warns Investing Firms for AML Non-Compliance

The Cyprus Securities and Exchange Commission (CySEC) warned the Cyprus Investment Firms (CIFs)  ...

Cyprus Securities and Exchange Commission Warns Investing Firms for AML Non-Compliance Explore More

News

Fraudsters Target UK’s £400 Energy Bill Support Scheme through Scam Texts

Fraudsters are taking advantage of the support program initiated for people to lessen the burden ...

Fraudsters Target UK’s £400 Energy Bill Support Scheme through Scam Texts Explore More

News

China Introduces 5-Point Strategy to Enforce Crypto AML Measures

China’s newly appointed governor of the Central Bank emphasised the AML regulations to safeguard ...

China Introduces 5-Point Strategy to Enforce Crypto AML Measures Explore More

News

Rapstar Captured for His Role in Wire Fraud Scheme

A famous rapper from Chicago with his crew members was caught and charged in court for using the ...

Rapstar Captured for His Role in Wire Fraud Scheme Explore More

News

Financial Fraud Alerts in the UK are Most Prevalent in Crypto Firms, Reports FCA

FCA has labeled crypto as the top sector for financial scam warnings in the UK.  As of now, there...

Financial Fraud Alerts in the UK are Most Prevalent in Crypto Firms, Reports FCA Explore More

News

Failure to Join FATF Will Increase Economic Pressure

According to a top diplomat, Iran’s refusal to comply with the requirements of the Financial Acti...

Failure to Join FATF Will Increase Economic Pressure Explore More

News

Dubai Jails 9 and Fines Over Dh15 Million for Money Laundering

Dubai courts have issued prison sentences to 9 offenders for money laundering. The Emirates conti...

Dubai Jails 9 and Fines Over Dh15 Million for Money Laundering Explore More

News

E-krona – Rising Cashless Sweden Sights Virtual Currency

Less than 10% of all transactions are done with cash in Sweden, according to an analysis by its c...

E-krona – Rising Cashless Sweden Sights Virtual Currency Explore More

News

SFMS Reports Blocking Russian Crypto Exchanges

Ukraine’s financial monitoring agency has restricted access to several online crypto exchan...

SFMS Reports Blocking Russian Crypto Exchanges Explore More

News

Bitcoin ATMs face stricter regulations over money laundering

According to experts, Bitcoin ATMs (BATMs) will face stern regulations globally, with countries s...

Bitcoin ATMs face stricter regulations over money laundering Explore More

News

US DOJ Arrests Two in Alleged NFT Money Laundering, Rug Pull Scheme

The US Department of Justice has arrested two in a $1.1 million non-fungible token fraud and mone...

US DOJ Arrests Two in Alleged NFT Money Laundering, Rug Pull Scheme Explore More

News

UAE Starts to Scrutinize Businesses to Ensure KYC/AML Compliance

The UAE’s Ministry of Economy now starts the inspections of Designated Non-Financial Businesses a...

UAE Starts to Scrutinize Businesses to Ensure KYC/AML Compliance Explore More

News

The Nigerian Bar Association (NBA) Introduces Anti-Terrorist Financing, Anti-Money Laundering Laws

Lawyers in Nigeria are being instructed to follow anti-money laundering and terrorist financing l...

The Nigerian Bar Association (NBA) Introduces Anti-Terrorist Financing, Anti-Money Laundering Laws Explore More

News

Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures

The Philippine financial system did not comply with international Financial Action Task Force (FA...

Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures Explore More

News

FinCEN Alerts FIs on Nationwide Surge in Check Fraud Targeting U.S Mail

The FinCEN (Financial Crime Enforcement Network) issues an alert to all the FIs (Financial Instit...

FinCEN Alerts FIs on Nationwide Surge in Check Fraud Targeting U.S Mail Explore More

News

Americans Lose $3.82 Billion to Crypto and ‘Phantom Property’ Investment Scam

The American public is being alerted to the proliferation of fraudulent investment schemes. Crypt...

Americans Lose $3.82 Billion to Crypto and ‘Phantom Property’ Investment Scam Explore More

News

Namibia Enhances its National Crypto Strategy with New Legislation

Namibia raises the bar with new legislation in the National Crypto Strategy to combat crypto scam...

Namibia Enhances its National Crypto Strategy with New Legislation Explore More

News

“Lack of Face-to-Face Verification is a Risk for FIs”, Reported MAS & ABS

Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (BAS) have publis...

“Lack of Face-to-Face Verification is a Risk for FIs”, Reported MAS & ABS Explore More

News

FATF to Shorten Its Fifth Round of Mutual Evaluation to Assess Countries’ AML Regimes

The Financial Action Task Force has announced that it will shorten its fifth round of mutual eval...

FATF to Shorten Its Fifth Round of Mutual Evaluation to Assess Countries’ AML Regimes Explore More

News

After China, Japanese Officials Considering to Introduce Digital Currency too

China has begun trials for its digital assets and issued 10 million yuan last week. The efforts o...

After China, Japanese Officials Considering to Introduce Digital Currency too Explore More

News

Guyana Joins Sister Caribbean Countries to Stop Money Laundering

“Guyana has joined the Caribbean network to counter money laundering and introduced a global fina...

Guyana Joins Sister Caribbean Countries to Stop Money Laundering Explore More

News

California to Reopen its Economy with COVID Vaccine and Testing Requirements

After more than a year of COVID-19 restrictions, the State of California to finally reopen its ec...

California to Reopen its Economy with COVID Vaccine and Testing Requirements Explore More

News

New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform

New York’s attorney general has filed a lawsuit against a cryptocurrency platform, known as Coins...

New York’s Attorney General Bent on Shutting Fraudulent Crypto Platform Explore More

News

Are Educational Institutes Becoming the Next Target for Money Laundering?

According to an investigation by The Times, higher-educational institutes have been unintentional...

Are Educational Institutes Becoming the Next Target for Money Laundering? Explore More

News

Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted

Austrac has warned the law enforcement agencies in Australia that they must conduct more money la...

Austrac Warns of Money Laundering Risks Unless More Prosecutions are Conducted Explore More

Take the next steps to better security.

Contact us

Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

Contact us

Request demo

Get free access to our platform and try our products today.

Get started