Monday, October 24th, 2016 MST

Category: Interesting Issues

North Korea linked to $81 million theft

According to Symantec, North Korea probably is responsible for the $81 million theft from Bangladesh’s central bank.  Researchers at the digital security firm uncovered “a rare piece of code” that had been seen in previous hacking cases by North Korea. The theft is believed to be the first by a nation for purely financial gain. 

ECB to stop printing €500 notes

In what is being reported as an effort to impede criminal activity and terrorism, the European Central Bank announced that it will discontinue issuing €500 notes around the end of 2018.  However, the ECB was quick to affirm that the €500 notes already in circulation “will remain legal tender and . . . always retain

War on cash

A former head of the UK’s Standard Charter bank proposes that the war on cash be ratcheted up. ln a paper published Sunday, Peter Sands demonized large banknotes, saying they are “king among terrorists, drug lords and tax cheats.” According to him, Illicit money flows are estimated to run up to $2 trillion a year.

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