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Recent Editions
Risk Channel
North America
Jen Easterly, director of the U.S. Cybersecurity and Infrastructure Security Agency, has said that the security of America's election systems is assured, observing that “Malicious actors, even if they tried, could not have an impact at scale such that there would be a material effect on the outcome of the election.” Despite warnings of foreign attempts to influence the upcoming presidential race, particularly from Russia and Iran, Easterly emphasized that no specific cyber activity targeting election infrastructure has been detected. The Biden administration has taken steps to counter these threats, including seizing fake Kremlin-run websites and charging individuals involved in disinformation campaigns.
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UK/Europe
Revolut has slammed Meta's recent anti-fraud initiatives, labelling them as inadequate. Woody Malouf, Revolut's head of financial crime, said that Meta's plans are “baby steps, when what the industry really needs is giant leaps forward.” The London-based fintech criticised Meta for not committing to reimburse scam victims, despite profiting from fraudulent advertisements. Revolut's latest financial crime report revealed that 62% of scams reported to the bank in the first half of 2024 originated from Meta platforms, a figure consistent with the previous year. The comments follow news that Meta will work with more banks to remove scam accounts and were made as new rules from the Payment Systems Regulator (PSR) come into effect, requiring banks to reimburse victims of authorised push payment fraud up to a limit of £85,000 per claim. Banks have also been given the power to pause payments for up to four days to give them more time to investigate fraud.
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