A dual U.S.-Canadian national has been sentenced to more than 11 years in federal prison for conspiring to launder tens of millions of dollars in wire and bank fraud schemes, according to the U.S. DOJ. Officials say the activity included cash-out scams for North Korean cybercriminals.
Despite a recent slowdown in incidents and some cybercriminals claiming they have stopped or abandoned ransomware attacks, National Cyber Director Chris Inglis says it's "too soon to tell," if the behavior of these groups has changed permanently or if they are waiting for an opportunity to return.
A Russian citizen, alleged to be working as a developer for the malware-spreading organization Trickbot, reportedly has been arrested at Seoul-Incheon International Airport. He was questioned by Korean authorities following an extradition request from the U.S.
The U.S. SEC announced civil action against defunct cryptocurrency lending platform BitConnect for allegedly defrauding investors out of $2 billion. In response, experts say cryptocurrency markets will face continued scrutiny over investor protections, fraud and security.
The House began debate Wednesday on legislation that would require companies that own or operate parts of the nation's critical infrastructure to report a cyberattack or breach within 72 hours of confirmation.
Sen. Pat Toomey of the Senate Banking Committee is requesting input from the cryptocurrency and blockchain community to inform future legislation on its security and privacy. Several experts praise efforts to regulate the space, but cite its complexities.
Three banking trade groups are objecting to provisions of a bill now pending in Congress that would require security incident reporting within 24 hours of discovery. They also are raising concerns about other provisions.
On Tuesday, the Senate, by a vote of 69-30, passed a $1 trillion infrastructure spending bill that would provide additional money for cybersecurity over the next several years, including extra funds for the Department of Homeland Security and its Cybersecurity and Infrastructure Security Agency.
Two bipartisan bills introduced in Congress this week seek to address cyberthreats. One calls for imposing sanctions against countries that allow ransomware gangs to operate within their borders. Another would require law enforcement agencies to better track cybercrime statistics to identify trends.
In the latest weekly update, four editors at Information Security Media Group discuss important cybersecurity issues, including improving federal agencies' cybersecurity and businesses recovering from the pandemic's impact.
A consolidated class action lawsuit filed against mobile game developer Zynga after it suffered a 2019 data breach looks set to be handled instead via arbitration. A judge notes that users agreed to arbitration in the terms and conditions, and so far, they've failed to prove they suffered any financial harm.
Two U.S. senators are looking to place additional restrictions on the use of telecom equipment from Chinese equipment manufacturers Huawei and ZTE by prohibiting using funds from the $1.9 trillion American Rescue Plan stimulus package to buy such equipment.
A bipartisan group of senators is pushing a bill that would require CISA to identify and respond to vulnerabilities and threats that target industrial control systems. The House has already passed a similar measure.