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Cyber Crimes Know Your Customers

Guidepost Solutions LLC

Money Laundering, Terrorist Financing, and Investment Advisors – Yes, Financial Crime is Borderless and Legal Entity-Agnostic

There is a growing acknowledgement that money laundering and terrorist financing is borderless and legal entity-agnostic, just as it is already known that cybercriminals and the means to commit cybercrimes continuously attack...more

Guidepost Solutions LLC

Investment Advisers and Generative AI

Start Planning Now to Reduce Your Increased Money Laundering, Sanctions, and Conflicts of Interest Risks The introduction and use of generative artificial intelligence (GenAI) and predictive data analytics (PDAs) by...more

Morrison & Foerster LLP

BIS Proposes Rule to Address Challenges of Artificial Intelligence and Malicious Cyber-Enabled Activities

On January 29, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a proposed rule to prevent foreign actors from using U.S. cloud computing services for malicious cyber activities. The proposal...more

Kohrman Jackson & Krantz LLP

Why are Company Ransomware Payments Dropping Dramatically?

Companies are increasingly choosing not to pay ransom for ransomware and extortionware due to the growing associated risks. In fact, a recent report by crypto-crime analyst firm Chainalysis found that payments to threat...more

Foodman CPAs & Advisors

OFAC Warns FFIs And Crypto Sector On Ransomware Attacks

Foodman CPAs & Advisors on

During the first half of 2021, 68 different ransomware attacks extracted approximately $600 million from victims across the United States. The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) says that the...more

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