Crime news

World latest news

Hong Kong Based Institutions SFC and ICAC Sign an MoU to Prevent and Combat Financial Crime

Financial crimes have gone up in the last couple of years, especially since the boom of cryptocurrencies. Hong Kong is as vulnerable as any location, and because of that, public institutions are teaming up to fight against the illegal financial activity. The country’s Securities and Futures Commission (SFC) and the Independent Commission Against Corruption (ICAC) put pen to paper on a Memorandum of Understanding (MoU). The MoU, signed on Monday, has the objective of representing cooperation between the two institutions to combat financial crimes in the Asian nation, in a time in which the digital platform has been exploited with impunity. Details of the Agreement The alliance between the SFC and the ICAC will include several things, such as joint investigations, data and information-related collaboration, cases referrals, and even capacity building, among others. The Memorandum of Understanding dictates that the two organizations will work to achieve improvements in the efficiency of their operations regarding the fight against financial crime, a situation that can endanger the integrity of the securities and futures markets in the influential Asian country. Among the people signing the MoU at the start of the week were Thomas Atkinson, currently the Executive Director of Enforcement at the SFC, and Ricky Yau Shu-Chun, performing as the ICAC’s Deputy Commissioner and Head of Operations. Atkinson stated that the agreement in the form of an MoU would let the SFC perform its regular statutory responsibilities, but with much more efficiency and with the opportunistic help of a partner that has experience fighting against corruption and financial crime. He also mentioned the importance of keeping the integrity of Hong Kong’s securities and futures markets intact. A Three-Day Workshop After the two parties signed the agreement, the first item on the agenda will be the launch of an investigation trading workshop, which will last three days and will let investigators of both institutions share their insight and expertise in their respective careers against financial crime. According to Yau, the collaboration will lay the framework of fruitful cooperation between the two parties, in several aspects. He said that the MoU shows a shared determination in keeping criminal activity in the field to a minimum in Hong Kong, securing a fair environment for people involved in the business. The SFC has been watching over the country’s securities and futures market in recent years. Most notably, the organization fined a Hong-Kong-based brokerage platform named Sincere Securities Limited (SSL) with HK$5 million (the equivalent of $640,000) because of repeated regulatory infractions over the last decade. The post Hong Kong Based Institutions SFC and ICAC Sign an MoU to Prevent and Combat Financial Crime appeared first on FXTimes.com - Daily Cryptocurrency and FX News.
Cryptovibes

UN Begins Official Investigation into Cyber Crime Sponsored by North Korea

Coinspeaker UN Begins Official Investigation into Cyber Crime Sponsored by North KoreaThe United Nations has officially begun an investigation into allegations against North Korea and its cyberattacks. The investigation is looking to get to the root of the possibility that North Korea sponsored and orchestrated at least 35 different cyberattacks, hitting about 17 countries.UN ReportJust last week, several mainstream media platforms published excerpts from a United Nations report, which suggested that North Korea successfully netted a huge sum of $2 billion from several attacks it carried out. The UN is now fully investigating this allegation.At the time, the report claimed that North Korea was using the ill-gotten funds to develop several dangerous weapons, strengthening the country’s arsenal.“Democratic People’s Republic of Korea cyber actors, many operating under the direction of the Reconnaissance General Bureau, raise money for its WMD (weapons of mass destruction) programs, with total proceeds to date estimated at up to two billion US dollars,” reads the report.The report, however, also names South Korea as the heaviest recipient of the hacks. It said that of the 35 recorded attacks, at least 10 were directed to South Korea, with India receiving three. Bangladesh and Chile were also hit twice each. Other countries including Vietnam, Nigeria, Kuwait, Liberia, South Africa, Slovenia, Costa Rica, Gambia, Guatemala, Tunisia, Malaysia and Malta, all suffered one attack each. The investigation is now seeking to treat these reported attacks as direct disregard for stipulated UN sanctions.Attack Channels Used by North KoreaThree major channels have been noted as being used by the North Korean group of hackers.Firstly, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system has been repeatedly targeted by the cybercriminals. Hackers continuously target and breach computer systems belonging to employees, and then use these systems to make illegal bank transactions and send fake messages, eventually destroying evidence and leaving no trace. It was reported in one case that a strong malware attack was installed on several ATMs in different countries, which resulted in thousands of fake cash transactions happening in as many as twenty countries.Secondly, hackers have also targeted cryptocurrency exchanges and their customers. South Korea’s Bithumb, for example, has been targeted and hacked about four times. One particular hack saw Bithumb lose about $18 million, prompting the exchange to collaborate with other exchanges to freeze the hacked funds after it was moved.The report also mentions that one of the 2018 attacks carried out on another unidentified exchange resulted in the stolen assets being “transferred through at least 5,000 separate transactions and further routed to multiple countries before eventual conversion.”The third method named in the report is crypto-jacking. This method involves the use of malware secretly installed on a computer, using the computer to mine digital assets without the knowledge of the owner.UN Begins Official Investigation into Cyber Crime Sponsored by North Korea
Coinspeaker

How Countries Are Joining Hands to Fight Crypto Crime

It looks like more and more countries are banding together to potentially fight against cryptocurrency fraud.  Some Countries Are Examining New Ways to Fight As we head deeper into cryptocurrency territory – still relatively unknown – the chances of fraud have increased tenfold. Problems ranging from SIM-swapping to phony initial coin offerings (ICOs) are running rampant, and everyone seems to be on the edge about the dangers that allegedly lurk around every corner. Among the most common fears are those involving money laundering, tax evasion and other serious white-collar crimes. Some countries, like Japan and the United States, have general frameworks designed to fight against these issues and others like them, but many neighboring nations freely admit to hosting lagging resources for monitoring and keeping cryptocurrency activity within a system of checks and balances. In addition, the idea of being monitored or supervised all the time while exploring cryptocurrency territory raises some serious constitutional questions and potentially goes against the ideals and initial goals of digital assets. Many of these cryptocurrencies are designed to be decentralized; tools against the centralized nature of all traditional financial institutions. If regulation indeed becomes a serious marker in the space, that could ultimately bring one of crypto’s biggest advantages to a point of non-existence. Nevertheless, the fears stated above still live, and several countries – including Australia and Singapore – are now banding together to form a new system in which all suspicious cryptocurrency-related activity is reported within each country’s regulatory band. For example, if something strange occurs on a Singapore-based cryptocurrency exchange, the legislators within that country will not stand by idly and tackle it on its own. It will report the news to its neighbor Australia and warn them that there’s a potential crook out there and to watch out. The program is being developed by the Financial Action Task Force. Thus far, the organization has garnered the cooperation of about 30 separate nations, all of whom cite money laundering as a serious threat. Measures and actions designed for monitoring further crypto activity are slated to be fully established sometime next year.  Sometimes, It’s Best to Go Out on Your Own Not all countries are choosing to participate, and instead are selecting a more individualized or “singled out” approach. Czechia, for example, has recently announced that all crypto businesses looking to establish headquarters within its borders must register with the country’s Trade Licensing Office. Those who fail to do so are potentially looking at fines of up to $560,000. The ruling is being established through the European Union’s fifth Anti-Money Laundering Directive (5AMLD). The idea is not so much to penalize companies that don’t play by all the rules, but to establish higher trust and give potential customers and investors the chance to know who they’re doing business with. The post How Countries Are Joining Hands to Fight Crypto Crime appeared first on Live Bitcoin News.
Live Bitcoin News
More news sources

Crime news by Finrazor

DIGEST

Updates on Shift Card, Bank of Lithuania and ETF rules in Indonesia, police to tackle some crimes in Canada India and Turkey, IIT Bombay to join Ripple's UBRI, UAE waste permit portal on blockchain, Germany's interest and Spain's skepticism, Oracle for Czech SDK.finance

Read more
DIGEST

BitMEX forecasts new crisis, new indexes on Nasdaq, positive adoption news from South Korea, new rules from Localbitcoins, scam app on Google Play, new options for KuCoiners and Coinbase users, ideas as for the potential of credit markets, JP Morgan and the Moshe Hogeg case

Read more
DIGEST

Zcash unveiled an already fixed vulnerability, US presidential candidate McAfee the debtor, QuadrigaCX seeking protection and justice, Kraken's new partnership, evidence of BTC decentralization improvements, rumors as for Bakkt, a bunch of news from Ripple and Telegram TON updates

Read more

Trending

Hot news

Hot world news

Titles and Designations Among Industry Participants

Those that follow developments within the digital securities sector may have come across a variety of titles/designations given to industry participants. While a select few companies have set their sights on attaining a full scope of designations, most specialize in one area or another. This necessitates a high level of cooperation among companies, as issuing digital securities requires utilizing various services. With Securitize recently attaining the title of ‘transfer agent’, now is as good a time as any to take a brief look at what positions, such as this, entail. Here are a few designations typically associated with digital securities, and a superficial look at the roles which they play. Placement Agent Companies tasked with completing the roles of a placement agent typically function as a conduit for raising capital. A placement agent is usually hired by a company looking to raise capital through an STO/DSO or some other means of fundraising. Throughout this process, the placement agent will attempt to connect appropriate, and interested, parties (issuers & investors). In doing so, investors gain access to pre-vetted opportunities in their ‘wheelhouse’, while issuers benefit from access to a larger pool of investors. Beyond simply providing token issuers access to their contact book, placement agents are able to provide certain levels of clout to relatively unknown companies through mere affiliation. In addition, they are often tasked with helping develop marketing strategies for token issuers, to more efficiently connect appropriate parties. The following companies are examples of participants within the digital securities sector which hold the title of a placement agent. US Capital Global Entoro BlockPass Issuance Platform The entire process of selling and distributing digital securities is contingent on finding a competent issuance platform. Digital securities require specific traits to be built into their coding, as they are required to be compliant with securities laws imposed by regulatory bodies, such as the SEC. This is done when they are created, using issuance protocols based on blockchain technologies, such as Polymath’s well known ST-20. The following companies are examples of participants within the digital securities sector which act as issuance platforms. Harbor Fintelum Swarm Broker-Dealer A broker-dealer refers to a licenced company which buys and sells securities. A broker-dealer has the ability to act on behalf of, either, themselves or a client. This is a fluctuating designation which is broken down as follows: When securities are traded on behalf of a client, the company is assuming the role of a broker. When securities are traded on behalf of the company, itself, the company is assuming the role of a dealer. The following companies are examples of participants within the digital securities sector which hold the title of a broker-dealer. StartEngine Gemini Dinosaur Financial Group Custodian In a world which is becoming increasingly connected, new challenges regarding security measures are arising every day. This places increased importance on companies assuming the roles of custodians. Custodians within the digital securities sector are tasked with safely storing digital assets. While their means for achieving this may vary, their presence within the sector is extremely important. Warranted or not, blockchain based assets are often viewed together. This means that when an unregulated exchange with poor security measures is hacked, it paints a bleak picture of similar assets. To continue the upwards trajectory of blockchain based assets (digital securities), regulated custodians are of key importance. Through stringent security measures, they are able to provide a safe home for valuable assets, as well as piece of mind for their holders. The following companies are examples of participants within the digital securities sector which provide custodial services. PrimeTrust Copper TokenSoft Marketplace Provider For participating parties to benefit from the oft-touted liquidity associated with digital securities, these assets need a place to call home. Marketplace providers offer this, as they facilitate secondary market trading of digital securities. By facilitating the buying/selling of digital securities, investors can now easily enter and exit their positions. The following companies are examples of participants within the digital securities sector which act as Marketplace Providers. Archax OpenFinance TokenMarket Transfer Agent For companies which undergo the tokenization process and distribute tokens, a transfer agent is vital. Companies which assume this role are typically tasked with accurately tracking the activity and ownership of distributed assets. This means providing token issuers with an accurate picture of who is in possession of their digital assets, and in some instances doling out dividends to holders. The SEC breaks down the roles of a transfer agent into the following 3 main categories. Issue and cancel certificates to reflect changes in ownership. Act as an intermediary for the company. Handle lost, destroyed, or stolen certificates The following companies are examples of participants, within the digital securities sector, which hold the title of a transfer agent. Securitize VStock Transfer Horizon Globex Jockeying for Position While there are many roles and designations within the sector, these are a few of the most prominent and important found in digital securities. With the digital securities sector still in a nascent stage of growth, there are various companies jockeying for position as the ‘go-to’ entity for their specialities. In time, we will eventually see the cream rise to the top, as select companies stand out from the pack with the services they offer. The post Titles and Designations Among Industry Participants appeared first on Securities.io.
Securities.io

Surprise! Binance Researchers Prefer Binance Chain

The scalability trilemma continues to dog blockchain economies, according to the latest Binance Research. Ethereum, while clinging to the crown as the dominant token economy, is facing stiff competition from a range of scrappy competitors. And you’ll never guess which blockchain Binance researchers consider to be a top contender. The Binance report recognizes Ethereum’s success as  “the most used blockchain worldwide for developers to issue new tokens.” As the dominant network, Ethereum has introduced a large variety of fully developed token standards, including newer innovations such as security tokens and non-fungible tokens. But despite Ethereum’s large range of offerings, Binance Research says,  the “vast majority of these tokens are worthless,” and tokens on other blockchains also hold little value. The big exception is Binance Chain, which has “the second largest amount of positively-valued tokens,” after Ethereum. The study explains that “newer blockchains have begun to compete in different segments” as Ethereum suffers from issues with scalability and gas fees. In addition to Binance Chain, which allows users to pay fees “in any valuable asset,” popular competing blockchains mentioned in the report include “EOS, Ontology, and TRON or second layers running on blockchains like Simple Ledger Protocol for Bitcoin Cash.”   source: Binance Research   Presenting a detailed comparison of token-focused blockchain solutions, the study examines some of the distinctions between the various networks. DApp availability justifies the growth in use-case for token ecosystems and therefore is a key factor for consideration, according to the report, and speed and fees are important considerations as well. The researchers also consider “easiness to build,” along with security and the extent to which a blockchain is decentralized. In terms of DApp activity, EOS and TRON are the favorite blockchains for casino-style gaming. Ontology is a favorite among gamers, while exchange dApps have a strong presence on NEO.  Ethereum is more diversified in its offerings, with growth in a wider range of applications in finance and exchange. The blockchains seeing the most activity are “Ethereum, Binance Chain, EOS, Tron, and NEO.”    source: Binance Research   Binance Research points out that many blockchains offer a “compelling value proposition” for the issuance of tokens, which may eventually overtake Ethereum’s dominant position. Binance Chain in particular is singled out for “the creation of tokens natively” giving it an advantage over others that rely on smart-contract deployments, like Ethereum and a number of competitors. With the relatively low number of use-cases and users across the industry, the report concludes that even though Ethereum currently dominates, it is “too early to rule out” potential competitors. “In the long run,” the study says,  “a wide variety of programmable blockchains will likely coexist if interoperability solutions across chains develop and prove to be secure and usable.”    The post Surprise! Binance Researchers Prefer Binance Chain appeared first on Crypto Briefing.
CryptoBriefing

TriveAcademy Awarded the Bloconomic Excellence Award at the Bloconomic Expo 2019

TriveAcademy, a player in building the blockchain technology infrastructure which also conducts training classes and consultation processes was awarded for the “Bloconomic Excellence Award – Best Blockchain Technology Developer Award” at the  Bloconomic Expo 2019. The Bloconomic Expo 2019 is organized by the Malaysian Blockchain Association and Alphacap Sdn. Bhd. As a sponsor partner for Bloconomic event, TriveAcademy has presented their latest technology and applications of Trivechain 2.0 to the public at the expo. Trivechain just launched TRVC App which all the speakers’ and volunteers’ certificates is been blockchain in their TRVC app. After a successful fork on April 22, 2019, the new version of Trivechain 2.0 has been successfully forked, deployed and is running steadily. Trivechain 2.0 has include major changes such as adjustments to their Proof-of-Work algorithm from X11 to X16R and Proof-of-Stake collateral from 1,000 TRVC to 10,000 TRVC. The mining hash rate and the number of masternode needs to catch up slowly and be supported by a new community. The hash power and number of masternodes is increasing gradually every day indicating a significant increase from the date it was forked. In an interview with Tan, he said that “Trivechain 2.0, as a blockchain platform, will create a highly compatible community to attract developers and entrepreneurs around the world to become part of the Trivechain community. This community along with a number of open source products will offer and create a more conducive ecosystem for developers. This allows the chain to provide the most favorable conditions for its users to develop its application.” Trivechain 2.0 is offering another alternative open source platform for developers to develop their new blockchain base business ventures. The platform is ready for deployment and for those who are interested to catch new mining trend. Come and join the Trivechain community! You are invited to apply for the development fund through the DAO governance system to build a friendly and efficient development ecosystem in the blockchain environment. Visit the official website at www.trivechain.com for more details. About Trivechain (TRVC): Trivechain (TRVC) is a games and entertainment public blockchain protocol managed by Decentralized autonomous organization (DAO) which focuses on games and entertainment to enter the new era digital age with implementation of blockchain-based technology and DApps (decentralized applications). Facebook: https://www.facebook.com/trivechainMedium: https://medium.com/trivechainTwitter: https://twitter.com/trivechain_trvcReddit: https://www.reddit.com/user/TRVC-2Telegram: t.me/trivechain The post TriveAcademy Awarded the Bloconomic Excellence Award at the Bloconomic Expo 2019 appeared first on Bitcoin Garden.
Bitcoin Garden

Wanchain, Civic, Aion and Tael Top All Cryptos; Coins in Aggregate Up 3.13% Overall, 34 Coins Cross Key Moving Average

The Big Winners From Yesterday Over the past day, the top performing coin out of the 133 coins we are tracking was Wanchain, which offered a day-over-day return 90.53%. Rounding out the top four currencies for the day were Civic, Aion, and Tael, which provided holders with returns of 27.02%, 26.53%, and 22.7% for the day. These moves were quite significant, in the sense that they were well outside of the volatility each of the respective coins had seen for the past two weeks. Crypto brokers to trade the currencies mentioned here: Gate, Yobit, Stex, Binance, DDEX, ETHfinex The Crypto Big Picture Overall, the average change in coin price for the coins we’re tracking was up 3.1253%. On a more granular level, 65% of the coins we’re tracking were up while 35% of the coins were down. Below we can see the average daily change for the coins we are tracking our index over time. 34 coins are especially close to their 20 day moving average, and thus may be worth watching for technical traders who view the 20 day moving average as a key support/resistance level. Crypto brokers to trade the currencies mentioned here: Gate, Yobit, Stex, Binance, DDEX, ETHfinex Currencies With Significant Price Moves Here’s a list of the specific coins that crossed their key moving average level: Status, district0x, Loopring, 0x, SingularDTV, SONM, IOTA, Verge, AirSwap, Request, Viberate, Power Ledger, Ripio Credit Network, Agrello, BlockMason Credit Protocol, Aeron, Genesis Vision, Po.et, Tierion, Tael, Time New Bank, Waves, OST, NavCoin, Lunyr, AppCoins, VIBE, Nucleus Vision, POA Network, Groestlcoin, Skycoin, Civic, Streamr DATAcoin, Dock. Also of note is that 66 of the 133 we track have contracting volatility. Volatility contraction often precedes a breakout, so this may be something to watch. Below is a chart that zooms in a bit more, showing 4 coins trading below their 20 day moving average and exhibiting contracting volatility. Are these coins ready for a rally? Crypto brokers to trade the currencies mentioned here: Gate, Yobit, Stex, Binance, DDEX, ETHfinex Article by SixJupiter The post Wanchain, Civic, Aion and Tael Top All Cryptos; Coins in Aggregate Up 3.13% Overall, 34 Coins Cross Key Moving Average appeared first on DecentralPost.
DecentralPost
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.