Hacks and breaches of IT systems in companies of various sizes have been increasing in prevalence over the last few years. With so much negative press, so many people being affected, and lives being destroyed, you’d think that more effort would be put into making sure hacks like these don’t happen. It turns out there’s pretty good reason why it doesn’t seem much is being done about them, but that doesn’t mean things shouldn’t change. With the cost of preventing a breach being higher than the cost of the breach itself, there’s currently little reason from a company’s standpoint to make any changes to their cybersecurity.
Hacks seem to be showing up in the news right and left. A hack is an intentional attack on a system to get access to private information that the attackers are not supposed to have access to. They can be carried out by a single person or a group of people. Some hacks require skill, and some not so much. The best route of action for cyber-attackers, though, is looking for weaknesses in systems so they can be exploited—a weakness resulting from human negligence. It’s information that is left unsecured enabling third parties to see it if they wanted to. What kind of data a hacker wants and what he or she wants to do with it will generally define who their lucky victim is going to be.
When considering the various regulations surrounding cryptocurrency, it’s sometime difficult for organisations and individuals to keep up. At local, provincial, and national levels, there are all sorts of policies that apply to companies (i.e. crypto projects and crypto exchanges) that are operating in this sector.
As data breaches are becoming more and more prevalent it’s hard to not become immune to them. Companies we know and trust are getting hacked right and left and, for many, it seems like there’s little we can do about it besides become a hermit and take ourselves off the grid entirely. But, that’s not the case and it’s poor judgment to ignore the possibility of hacks. While data hacks are increasing frequency in North America, there are some things you can do to keep them from affecting you or at least lessen the blow.
Cryptocurrency exchanges are under immense pressure to prevent cases of fraud. Everything from potential exchange hacks/stolen funds to money laundering presents major obstacles for establishing and maintaining regulatory compliance. In this article, let’s try to grasp why crypto exchanges are at risk and outline a few strategies that can significantly optimise fraud prevention.
Despite the fact that most organisations across the globe prioritise strict anti-money laundering (AML) procedures, we continue to hear case after case of regulatory breaches.
Even though consumer fraud remains a large issue for millions to billions of people annually, many tend to forget about the significance of business fraud.
Topics: Fraud prevention
Cryptocurrency exchanges have long been an important part of the emerging digital currency marketplace. In recent years, issues like crypto exchange security and money laundering schemes have plagued the development of the crypto finance ecosystem.
Initial Coin Offerings (ICOs) present one of the biggest changes to capital fundraising we have seen in recent years. While ICOs can be a great way for blockchain projects to raise money and for investors to participate in the cryptocurrency market, many people are weary of the potential for fraud.
Innovations in blockchain technology have already begun to change the way the global economy works. Blockchain not only allows for the creation of new digital currencies but also vastly improves the future of consumer protection.
In this article, we feature four major consumer benefits created by the development and adoption of blockchain.