Only a month ago the FBI announced that fake eBay sales were being used to mask payments from the US to the Islamic State (ISIS). Terrorists and criminals are becoming more sophisticated in terror financing and money laundering, so businesses must be too.
The US Federal Deposit Insurance Corporation is suing nine European banks for allegedly contributing to the collapse of 39 US banks that had a collective value of more than $440bn (€375.6bn).
The recent NotPetya cyberattack underlined the need for organisations to address their exposure and how to mitigate the risk.
Many banks around the world, large and small, continue to experience major security failures. Biometric systems such as pay-by-selfie, iris scanners and vein pattern authentication can help.
Banks might feel justified in victim blaming when fraud occurs, but it does little for customer confidence.
Accidental data breaches are causing almost as much concern as the steady rise in ransomware attacks, reports insurer Beazley.
More than $140,000 worth of bitcoins paid by victims of the May ransomware attack has been withdrawn from digital wallets nearly three months later.
The European police agency recorded an 11% increase in incidents worldwide over the 12 months to March this year.
BNP Paribas is the latest in a long line of financial service companies to be penalised for misconduct during the financial crisis on both sides of the Atlantic.
A study by the London-based insurance market warns that economic losses could be similar to losses unleashed by Superstorm Sandy in 2012.