DIGITAL TECHNOLOGIES IN RUSSIAN COMPANIES
Written by Aleksandr Podobnykh
At the beginning of the year, KPMG surveyed more than 100 of the largest companies and found out which technologies the Russian business is implementing, which budgets of the organization are willing to spend on such projects and how they generally approach the management of digital transformation.
Main conclusions:
63% of respondents indicated that they have developed a digital transformation program, but in reality this more often means a set of short-term pilot projects;
77% of responding companies expect increased operational efficiency and reduced costs through digitization of processes;
The most popular technologies that have already been tested by Russian companies: big data analysis and predictive analytics (68%), chat bots (51%), robotization of office processes (50%);
The position of the CDO (Chief Digital Officer) is only in 16% of companies, the committee on digitalization - in 13%. In most Russian companies, decisions on digitalization projects are made by individual consideration at the top management level;
65% of companies attract startups to implement pilot projects;
In 2019, 36% of companies are ready to invest more than 100 million rubles in the implementation of projects on digitization of processes, while 55% of respondents plan to spend less than 50 million rubles;
51% of companies expect that the investment will pay off in less than 2 years, another 43% expect return on investment within 2-5 years.
Source: KPMG | RU.
2019 EXAMINATION PRIORITIES: OFFICE OF COMPLIANCE INSPECTIONS AND EXAMINATIONS
Written by Bederov Igor
Washington D.C., Dec. 20, 2018 - The Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) today announced its 2019 examination priorities. OCIE publishes its exam priorities annually to promote transparency of its examination program and provide insights into the areas it believes present potentially heightened risk to investors or the integrity of the U.S. capital markets. This year, particular emphasis will be on digital assets, cybersecurity, and matters of importance to retail investors, including fees, expenses, and conflicts of interest.
OCIE is steadfast in its commitment to protect investors, ensure market integrity and support responsible capital formation through risk-focused strategies that improve compliance, prevent fraud, monitor risk, and inform policy. They believe our ongoing efforts to improve risk assessment and maintain an open dialogue with market participants advance these goals to the benefit of investors and the U.S. capital markets.
This year, OCIE's examination priorities are broken down into six categories:
1. compliance and risk at registrants responsible for critical market infrastructure;
2. matters of importance to retail investors, including seniors and those saving for retirement;
3. FINRA and MSRB;
4. digital assets;
5. cybersecurity; and
6. anti-money laundering programs.
The published priorities for 2019 are not exhaustive and will not be the only issues OCIE addresses in its examinations, Risk Alerts, and investor and industry outreach. While the priorities drive OCIE’s examinations, the scope of any examination is determined through a risk-based approach that includes analysis of the registrant’s operations, products offered, and other factors.
The collaborative effort to formulate the annual examination priorities starts with feedback from examination staff, who are uniquely positioned to identify the practices, products, and services that may pose significant risk to investors or the financial markets. OCIE staff also seek advice of the Chairman and Commissioners, staff from other SEC divisions and offices, and the SEC's fellow regulators.
OCIE is responsible for conducting examinations of entities registered with the SEC, including more than 13,200 investment advisers, approximately 10,000 mutual funds and exchange traded funds, roughly 3,800 broker-dealers, about 330 transfer agents, seven active clearing agencies, 21 national securities exchanges, nearly 600 municipal advisors, FINRA, the MSRB, the Securities Investor Protection Corporation, and the Public Company Accounting Oversight Board, among others. The results of OCIE’s examinations are used by the SEC to inform rule-making initiatives, identify and monitor risks, improve industry practices, and pursue misconduct...
Source: SEC.gov
CYBERPOL LAUNCHED eLEARNING & ONLINE CERTIFICATIONS
Written by Aleksandr Podobnykh
Get Certified today (CyberPOL Cyber Essentials Certification)...
The Cyber Risk Management Certifications and Assessment can help you comply with GDPR and is an absolute necessity if you are under GDPR regulations compliance.
CYBERPOL Partnership Training Programs in accreditation with CYBERPOL The International Cyber Policing Organization approved by Decree (D-U-N-S Number 371018431). They provide four basic cyber training modules ranging from €499 to €1299 per certification in which the candidates on completion receives the certification, in some cases valid for one year and must be renewed annually.
The Accreditation QA (Quality Assurance) is in accordance with the use of accreditation class 42 of the trademarks act for academicals purposes. Thus ensuring such certification can only be issued by the license holders of such certifications.
Who Should Attend
All those wishing to act the Role of DPA/CSO/SSO/ IT manager along with all Personnel involved in IT & OT systems.
The following courses:
1. CyberPOL Cyber Essentials Cyber Security Essentials Awareness Training - Level I (SYBC1)
2. CyberPOL Cyber Essentials Cyber Security Essentials Awareness Training - Level II (CYB2)
3. CyberPOL Cyber Essentials PCI Compliance Security Awareness Training - Level I (CYBCPCI1)
4. CyberPOL Cyber Essentials PCI Compliance Security Awareness Training Level II (CYBPCI2)
5. CyberPOL Cyber Essentials Cyber Security Awareness Certifications and re-certifications ( coming soon)
6. CYBERPOL HIPAA Compliance Security Awareness Training (CYBHIPAA)
Accreditation By CYBERPOL The International Cyber Policing Organization by Decree and endorsed by ECIPS The European Centre for Information Policy and Security.
Policy and Compliance
Regulatory Reference: BIMCO Guidelines on Cyber Security, EU Regulation 2016/679, IMO MSC-FAL.1/Circ.3, ISO 27032:2012, Policy Letter 08_2016, TMSA, UK Department of Transport Code of Practice Cyber Security for Ships, USCG Cyber Security Strategy, GDPR.
All courses are European Centre for Information Policy and Security (ECIPS) endorsed.
Source: CyberPOL Academy.
Source: European Centre for Information Policy and Security (ECIPS).
IFZ FINTECH STUDY 2018 AN OVERVIEW OF SWISS FINTECH
Written by Aleksandr Podobnykh
The Swiss fintech market grew by 62 percent in 2018, according to a recent study by the Lucerne University of Applied Sciences published on February, 27.
In the IFZ FinTech Study 2018 of the Lucerne University of Applied Sciences and Arts, the project team provides a comprehensive overview of the Swiss FinTech sector.
The entire 140 page study can be downloaded free of charge from Swiss Bankers Prepaid Services Ltd.
Source: Swiss Bankers.
HIGH-RISK JURISDICTIONS OF MONEY LAUNDERING, FINANCING OF TERRORISM AND WMD PROLIFERATION FINANCING (ML/FT/PF)
Written by Manuylova Natalya
FATF public statement of February 22, 2019...
Democratic People's Republic of Korea (DPRK). The FATF reaffirms its 25 February 2011 call on its members and urges all jurisdictions to advise their financial institutions to give special attention to business relationships and transactions with the DPRK, including DPRK companies, financial institutions, and those acting on their behalf. In addition to enhanced scrutiny, the FATF further calls on its members and urges all jurisdictions to apply effective counter-measures, and targeted financial sanctions in accordance with applicable United Nations Security Council Resolutions, to protect their financial sectors from money laundering, financing of terrorism and WMD proliferation financing (ML/FT/PF) risks emanating from the DPRK. Jurisdictions should take necessary measures to close existing branches, subsidiaries and representative offices of DPRK banks within their territories and terminate correspondent relationships with DPRK banks, where required by relevant UNSC resolutions.
Iran. Country will remain on the FATF Public Statement until the full Action Plan has been completed. Until Iran implements the measures required to address the deficiencies identified with respect to countering terrorism-financing in the Action Plan, the FATF will remain concerned with the terrorist financing risk emanating from Iran and the threat this poses to the international financial system. The FATF, therefore, calls on its members and urges all jurisdictions to continue to advise their financial institutions to apply enhanced due diligence with respect to business relationships and transactions with natural and legal persons from Iran, consistent with FATF Recommendation 19, including: (1) obtaining information on the reasons for intended transactions; and (2) conducting enhanced monitoring of business relationships, by increasing the number and timing of controls applied, and selecting patterns of transactions that need further examination.
Sanctions against Iran prohibit the export to Iran of nuclear, missile and a significant part of military products, foreign direct investment in Iran’s oil and gas and petrochemical industries, export of refined petroleum products, as well as any contacts with the Islamic Revolutionary Guard Corps (IRGC), banks and insurance companies, financial transactions and cooperation with the Iranian navy.
CRYPTO INSOLVENCY: 10 THINGS EVERY DIRECTOR OF A CRYPTO FIRM NEEDS TO KNOW WHEN THINGS START TO GO WRONG
Written by Manuylova Natalya
February 2019, while the crypto ecosystem continues to make considerable progress in building out its infrastructure and 'institutionalising' the space, many crypto players are facing challenges due to a broad range of issues, from a fall in cryptoasset prices to more regular start-up challenges.
This is forcing many crypto firms into situations of financial distress. In this article, they set out the ten things that any director or senior executive of a crypto entity needs to know when its solvency status is in doubt.
Download Crypto Insolvency...
INITIAL COIN OFFERINGS (ICO'S) FOR SME FINANCING
Written by Aleksandr Podobnykh
15 January 2019 - Initial Coin Offerings (ICOs) are one of the most prominent applications of blockchain for finance, allowing for an innovative and inclusive way of financing small and medium-sized enterprises (SMEs).
Although the lack of regulatory clarity currently exposes ICO participants to some risks, appropriately regulated and supervised ICOs offer a potential new way to raise capital for projects enabled by Distributed Ledger Technologies and the blockchain.
This report analyses the emergence and potential of ICOs as a financing mechanism for start-ups and SMEs, examines the benefits and challenges of this mechanism for small businesses and investors, and discusses the policy implications of ICO activity for the inclusive financing of SMEs and the real economy...
Source: OECD.
SAFETY AND SECURIT COMMITTEE TALKS ABOUT PREVENTING BUSINESS RISKS, ACCESS CONTROL OPTIONS AND CRYPTOCURRENCY RELATER CRIME
Written by Aleksandr Podobnykh
February 14, 2019. AmCham SPb News and Events...
The meeting featured three presentations by Igor Bederov, Internet-Rozysk, Yuri Ivanov, Hyundai Motors and by Alexander Podobnykh, SICP and convened around 20 security specialists from member companies.
Presentations:
1. Risks prevention at the first contact stage. What can contact details reveal? (in Russian).
2. Access control and access management systems: new technologies in security provision (in Russian).
3. Prevention and investigation of crypto currency turnover related crime (in Russian).
Source: AmCham Russia.
CRYPTO CRIME REPORT: DECODING HACKS, DARKNET MARKETS, AND SCAMS
Written by Bederov Igor
Released today, Chainalysis latest crypto crime research on $1.6B in hacks, darknet market activity, and Ethereum scams shows how they decoded each type of crime and what it means for AML compliance and investigations.
Crypto crime increased in 2018, but it made up a smaller slice of a much larger market. Indeed, according to they analysis, illicit transactions comprised less than 1% of all economic bitcoin activity in 2018, down from 7% in 2012.
Even so, crime remains a significant problem in the cryptocurrency ecosystem. Exchange hacks have generated billions of dollars in criminal proceeds, darknet market activities have netted hundreds of millions of dollars in illicit revenues, and scams targeting individuals have stolen tens of millions of dollars.
Moreover, criminal use of cryptocurrencies has become far more sophisticated. As a result, in this second edition of their Crypto Crime Report, they go deeper in analysis to seek out granular insight into three categories of criminal activity.
Then, they examine the surprising resilience of darknet markets as law enforcement takes aggressive action against them. In a report on the “whack-a-mole” problem with the darknet, they look at how transaction activity briefly subsides then quickly reroutes itself to new platforms when major darknet markets are closed down.
They also examine changing trends in Ethereum scams, where individuals are targeted, as last year’s phishing schemes lose their effectiveness and more complex Ponzi and ICO exit scams emerge to make outsized gains.
Finally, they discuss the role of cryptocurrency in the broader context of money laundering and highlight the importance of different types of services that are used to integrate illicit cryptocurrency into the clean economy...
Source: Chainalysis Research.
BLOCKCHAIN TECHNOLOGY DIGEST: JANUARY 2019
Written by Aleksandr Podobnykh
Mind Smith has prepared an overview of key materials, analytical reports, research, reports and research articles. All the most interesting in the industry for the month...
37 analytical studies and reports, 27 scientific articles, 5 documents of international organizations.
Since 2018, Mind Smith has been implementing strategic blockchain consulting. Helps answer the question about the use of technology blockchain in business, conducts research and strategic sessions for top managers.
The company believes in the blockchain technology, but understand its limitations. For effective implementation of a well-coordinated work of the business and technical team. Mind Smith is ready to go all the way from the search for possible scenarios and the preparation of the concept to the implementation of the pilot and the implementation of the solution in the business.
More...
IN 2 MONTHS SICP REVEALED 46.000 "UNRELIABLE" BITCOIN WALLETS
Written by Bederov Igor
In Russia, announced an online service that analyzes the risks of using cryptocurrency and investigates crimes committed in this area. The development was carried out by the company "Internet-Rozysk".
The service, which was launched last year, was called the Security Intelligence Cryptocurrencies Platform. In January, an alpha version of the service appeared on the site www.ueba.su.
According to the project director Igor Bederov, the service was launched in December last year and as of January 2019, he found 46 thousand bitcoin wallets, which were given the status of "unreliable".
SICP analyzes blockchains, websites, chat rooms, and forums to identify those cyberwiches that are used in criminal schemes, such as fraud, blackmail, money laundering, and so on. Also, the development team of the platform builds interactions with market participants, public organizations and law enforcement agencies. One of the promising goals of the service creators see deanonymization of purses and assigning them the status of “trustworthy” - provided that they are not seen in the implementation of suspicious operations, and “unreliable” - if the operations that were carried out through the wallet raise doubts. At this stage, the strategic partners of the project are CipherTrace, Sentinel Protocol, Crystal, CryptoPolice, Wawes, SPb BlockChain, CryptoRussia.ru and ACISO.
The developers set themselves the task of giving users the ability to track all transactions from the moment they are sent until the moment they receive funds on the recipient’s wallet. The system should work by analogy with the methods that are now used by the financial supervision authorities. The service will identify wallets that are used for money laundering, terrorist financing and other illegal purposes. Also, the service will be able to monitor transactions on certain wallets for a long time, which will allow detecting fraudulent ICOs.
SICP is a breakthrough technology for Russian crypto-business. This prominent development will allow participants of the Russian cryptocurrency market to protect themselves from fraud, journalists said.
Note that on pre-sale, SICP tokens can be purchased at half price, and the alpha version of the service from January 9 can be connected to www.ueba.su.
Source: CryptoRussia.ru
We are proud to present the single, most comprehensive data-driven analysis on European technology today.
What’s changed for European tech in the past 12 months? It’s been another record year for investment in European tech and the sector is powering growth in Europe’s stagnant economy. Yet not everyone is benefitting from the boom. The gains are not being democratized by investors. Companies need to address diversity and inclusion tools and unlock hidden talent pools.
This is the fourth edition of the State of European Tech report, the single, most comprehensive data-driven story of European technology today. We’ve gathered data from world-class data partners and a survey of 5,000 members of the tech ecosystem, from founders to students, investors to researchers. We’ve tried to tell the most important stories. We cover diversity and inclusion, talent, regulation, investment, research and development, and the great, global disrupters out of Europe...
Source: State of European Tech 2018.
PROCEEDING WITH CAUTION - A SURVEY ON CENTRAL BANK DIGITAL CURRENCY: BIS
Written by Aleksandr Podobnykh
On January 8, Bank For International Settlements released BIS Papers № 101, written by By Christian Barontini and Henry Holden.
The hypothetical benefits and risks of central bank digital currencies are being widely discussed. This BIS paper adds to these discussions by taking stock of how progress and plans in this area are developing, based on a global survey of central banks. Responses show that central banks are proceeding with caution and most are only at a conceptual stage with their work. However, a handful have moved to considering practical issues and a couple of central banks with idiosyncratic circumstances might issue a digital currency in the short or medium term.
Source: Bank for International Settlements.
UNITED KINGDOM'S MEASURES TO COMBAT MONEY LAUNDERING AND TERRORIST FINANCING
Written by Aleksandr Podobnykh
Paris, 7 December 2018 - The United Kingdom has a well-developed and robust regime to effectively combat money laundering and terrorist financing. However, it needs to strengthen its supervision, and increase the resources of its financial intelligence unit.
The FATF has conducted an assessment of the United Kingdom’s anti-money laundering and counter terrorist financing (AML/CFT) system. The assessment is a comprehensive review of the effectiveness of the UK’s measures and their level of compliance with the FATF Recommendations.
The UK is the largest financial services provider in the world. As a result of the exceptionally large volume of funds that flows through its financial sector, the country also faces a significant risk that some of these funds have links to crime and terrorism. This is reflected in the country’s strong understanding of these risks, as well as national AML/CFT policies, strategies and proactive initiatives to address them.
The UK aggressively pursues money laundering and terrorist financing investigations and prosecutions, achieving 1400 convictions each year for money laundering. UK law enforcement authorities have powerful tools to obtain beneficial ownership and other information, including through effective public-private partnerships, and make good use of this information in their investigations. However, the UK financial intelligence unit needs a substantial increase in its resources and the suspicious activity reporting regime needs to be modernised and reformed.
The country is a global leader in promoting corporate transparency and it is using the results of its risk assessment to further strengthen the reporting and registration of corporate structures. Financial institutions as well as all designated non-financial businesses and professions such as lawyers, accountants and real estate agents are subject to comprehensive AML/CFT requirements. Strong features of the system include the outreach activities conducted by supervisors and the measures to prevent criminals or their associates from being professionally accredited or controlling a financial institution. However, the intensity of supervision is not consistent across all of these sectors and UK needs to ensure that supervision of all entities is fully in line with the significant risks the UK faces.
The UK has been highly effective in investigating, prosecuting and convicting a range of terrorist financing activity and has taken a leading role in designating terrorists at the UN and EU level. The UK is also promoting global implementation of proliferation-related targeted financial sanctions, as well as achieving a high level of effectiveness in implementing targeted financial sanctions domestically.
The UK’s overall AML/CFT regime is effective in many respects. It needs to address certain areas of weakness, such as supervision and the reporting and investigation of suspicious transactions. However, the country has demonstrated a robust level of understanding of its risks, a range of proactive measures and initiatives to counter the significant risks identified and plays a leading role in promoting global effective implementation of AML/CFT measures.
FATF adopted this report at its Plenary meeting in October 2018...
О КОСАтка
Корпоративная система аналитики Транзакция Криптовалюта Актив - кибербезопасность инфраструктуры блокчейнов и антифрод в криптовалютной сфере (антискам, прозрачность, комплаенс).
Связаться
Российская Федерация, Москва
Тел.: +7 (911) 999 9868
Факс:
Почта: cosatca@ueba.su
Сайт: www.ueba.su