Dutch prosecutors are pursuing as many as 15 cases against individuals suspected of using digital currencies and "tumblers" to conceal the flow of illicit proceeds between online black markets and the mainstream banking system, according to a senior official.
The world's largest banks are increasingly devoting resources to guarding their infrastructure against large-scale cyberattacks, and installing new controls to prevent hackers from generating fraudulent payment messages to steal from them.
Anti-money laundering staff employed by the country's largest banks may be asked to gauge the cyber-risks posed by their institutions' ties to third-party vendors under a federal plan pitched late last month, but the proposal's impact on compliance otherwise remains unclear.
U.S. financial institutions are reevaluating their cybersecurity controls in light of increasingly complex online attacks aimed at stealing client funds and data, according to experts.
U.S. officials recently warned financial institutions that unprecedented cyberattacks on a global interbank messaging platform could be repeated on a grand scale, leading to billions of dollars of losses and choking off global payments.
Cybercriminals are employing increasingly complex tactics to defraud the U.S. Treasury Department and taxpayers, a top federal investigator said Monday.
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