Digital pirates can make hundreds of millions of pounds of profits per year by monetising stolen content, according to a new report. So-called "release groups" compete with each other to source content and get it up first, in order to attract the most traffic, downloads and money, the report says. With new releases, a "cammer" will be used to record the film at the cinema, and can even upload the content in real-time. One relatively new way to access illegal content is through so-called Kodi boxes. Advertising is key to "the majority" of digital piracy groups, the report adds.
Money laundering accounts for up to 5% of global GDP - or $2tn (£1.5tn) - every year, says the United Nations Office on Drugs and Crime. So banks and law enforcement agencies are turning to artificial intelligence (AI) to help combat the growing problem. Money laundering, so-called after gangster Al Capone's practice of hiding criminal proceeds in cash-only laundromats in the 1920s, is a huge and growing problem. "Dirty" money is "cleaned" by passing it through layers of seemingly legitimate banks and businesses and using it to buy properties, businesses, expensive cars, works of art - anything that can be sold on for new cash. And one of the ways criminals do this is called "smurfing".
ThetaRay, a provider of Big Data and artificial intelligence (AI)-enhanced analytics tools, has joined Microsoft's (NASDAQ:MSFT) partner program, One Commercial Partner, which provides various cloud-powered solutions. ThetaRay's anti-money laundering (AML) solution for correspondent banking can be accessed through Microsoft's Azure Marketplace. A large US bank has reportedly signed an agreement to use the solution. "We are proud to join the One Commercial Partner program and offer Microsoft Azure customers access to our industry-leading AML for Correspondent Banking solution." "Global banks are increasingly de-risking or abandoning their correspondent banking relationships due to a lack of transparency and fears of money laundering and regulatory fines. Our solution provides banks with the … ability to reverse the trend and grow their business by allowing full visibility into all links of the cross-border payment chain, from originator to beneficiary."
The recent cybersecurity attack that hit the credit reporting agency Equifax is being called the "worst data breach in the history of the modern era," by money expert Clark Howard. To help you navigate this potentially devastating incident -- that isn't going away for a long time -- we've put together this guide that walks you through everything you need to know about the breach and what you can do to protect yourself going forward! Equifax, one of the nation's three main credit reporting agencies (the other two are Experian and TransUnion), announced on September 7 it was the victim of a major hack that exposed the personal information of 143 million U.S. consumers -- or two-thirds of all Americans with credit reports. The company has not yet said which application or which vulnerability was the source of the unauthorized breach. In the world of hacks, scams and data breaches, this is about as bad as it gets. And while Equifax reports that 143M Americans were impacted, we really have no idea how many people had their information stolen.
Japan's information technology agency has detailed a new cybercrime aiming to swindle businesses out of money via emails that appear to have been sent from partner companies, sources said Sunday. The Information-Technology Promotion Agency looked into four cases in which domestic companies' email systems were compromised, a threat that has emerged on a global scale. Money was stolen in two cases, although the agency withheld the amount and name of the companies. According to the U.S. Federal Bureau of Investigation, about 22,000 such cases were reported in the United States and elsewhere between October 2013 and June 2016, causing a combined loss of about $3.1 billion. The average amount stolen in each case was approximately ¥16 million.