“Virtual currency” becomes top priority for Finnish amid ransomware attacks on various US industries

The financial crime fighting network (Finnish) says it is prioritising digital assets as a new key area.

Finnish, which aims to combat money laundering, financing terrorism and other financial crimes, has set out its intention to closely monitor “convertible virtual currencies” (COC) in a new report.

 
In his report on national priorities for money laundering and financing terrorism, Finnish notes that CVCs have become a favorite tool for sharing cybercriminals.

“Convertible virtual currencies (CVC) have also grown as the currency of choice in a wide range of illegal online activities.

The preferred form for the purchase of tools and services in addition to Ransomware, online materials to exploit children as illegal drugs and other illegal goods online software to the people who carried out attacks and ransom money from the illegal activities, often to disguise the origin of CVC to pay a ransom is used to reduce operations.”

So Finnish suggests that fighting ransomware is now an urgent task, especially after the increasing number and scope of cyberattacks.

“According to law enforcement, and reporting within the scope of the institutions and other public and private sector, has increased dramatically ransomware attack, in the year of 2020 and 2021, as it was, and challenge and threat to the health of Americans, and other critical infrastructure, national security and economic prosperity in the United States of America…

The fight, which has been identified as a priority for the United States of America gasp with stable partners of cooperation with like-minded purpose, including through the development of consistent and coherent policy and a deterrent worldwide struggle with a ransom ransomware payment and fast tracking of virtual money and income restriction”.

In May, Colonial Pipeline, one of the largest fuel line operators in the U.S., was the victim of a ransom attack that led to several days of outages, fuel shortages and rising gas prices.

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