6 C
Wednesday, November 22, 2017
Home Tags JPMorgan Chase

Tag: JPMorgan Chase

Coin.mx chap is headed for the slammer A Florida ex-school board member has pled guilty to making a false statement in relation to the running of an illegal bitcoin exchange. The FBI says Anthony Murgio and Yuri Lebedev ran Coin.mx as an unlicensed currency exchange, cloaking transactions including facilitating ransomware payouts as "collectable memorabilia" and dubbing the business the "Collectables Club." Coin.mx was owned by Israeli Gery Shalon, a man linked to a huge hacking operation that compromised the likes of JPMorgan Chase along with the personal data of more than 100 million people. The Department of Justice says the pair paid US$150,000 to gain board of directors seats on the HOPE Credit Union. Prior to its liquidation in October 2015, HOPE was used to facilitate coin.mx transactions, it is claimed. Local media report Murgio admitted to making a false statement to the National Credit Union Administration following a plea agreement. He admitted his statement on the physical address of Collectables Club was falsified such that it could participate in the HOPE credit union. He faces up to 16 months in a US federal prison when he is sentenced January 27. Murgio was charged along with his son Anthony Murgio and Lebedev. ®
Associated with Financial Services ISAC (FS-ISAC), the new FSARC works more closely with government partners for deeper threat analysis and systemic defense of financial sector. In tandem with its long-standing intelligence-sharing organization, the American financial services industry has formed an organization working on its strategic, systemic cyber-defense and resilience.

The formation of this new Financial Systems Analysis and Resilience Center (FSARC) was announced by the Financial Services Information Sharing and Analysis Center (FS-ISAC), today.   FSARC is the brainchild of eight large banks that are members of FS-ISAC - Bank of America, BNY Mellon, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street, and Wells Fargo.

Through FSARC, large banks will have "closer collaboration" with government partners in the FBI, Department of Homeland Security, and US Department of Treasury.  While FS-ISAC continues to be focused on distributing timely information about active threats, FSARC will take a longer view -- performing deeper analysis to create long-term strategies to address systemic risks across financial products and practices. As Andrew Hoerner, FS-ISAC vice president of communications explains, "FS-ISAC is focused on real-time threat intelligence sharing for incident response and prevention.

FSARC is focused on proactive analysis at a meta level to identify and analyze threats and risks across the sector and come up with solutions to prevent emerging threats and risks." FSARC will use the same "circle of trust" membership model used by FS-ISAC. Bank of America’s Siobhan MacDermott and JPMorgan’s Greg Rattray will serve as interim Co-Presidents "until the center reaches full operational capability."  The formation of FSARC comes on the heels of (but not in response to) US bank regulators' releasing draft rules for cybersecurity that would require financial services organizations to (among other things) recover from any cyberattack within two hours, and finance leaders at a G7 meeting pushing a global financial cybersecurity framework.   Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events.

For more information from the original source of the news item, please follow the link provided in this article.
View Full Bio More Insights