CySecurity News – Latest Information Security and Hacking Incidents
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has released two new financial guides for businesses to detect and prevent criminal abuse of digital currencies and ransomware.
Each guide provides practical recommendation to assist businesses detect if a payment is related to a ransomware assault, or if someone is exploiting digital currencies and blockchain technology to commit crimes such as tax evasion, terror financing, scams or money laundering.
The guideline implored businesses to be on the lookout for users who tried to obfuscate the trail of their digital assets transactions by using mixers, privacy assets, and decentralized finance (DeFi) platforms suspiciously.
Among the particular indicators Austrac recommends to be careful for when figuring out if somebody is using digital currencies for terrorism financing, for example, is when transactions to crowdfunding or online fundraising campaigns are linked to ideologically or religiously motivated violent extremism centered boards, or when a buyer account receives a number of small deposits, that are instantly transferred to private wa
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