With the advancement of new technologies, more sophisticated methods for fraud and other digital crimes are emerging. Particularly in e-commerce, security is a priority.

The arrival of simpler payment methods, based on AI and other emerging technologies, does not stop the emergence of new forms of fraud. Cybercriminals adapt, improve their attack tools and break down all barriers.

The financial sector is the preferred sector for digital fraudsters. Losses far exceed those obtained by criminals from drug trafficking and other illegal activities globally.

Scam methods are becoming more aggressive thanks to the use by cybercriminals of generative AI that allows them to impersonate identities in a way that is imperceptible to victims.

Deepfakes are used to carry out fraudulent transactions that bypass system barriers. But this method is not enough, and instant payments are added by impersonating trusted contacts. These so-called “friendly” scams are the most dangerous.

Cybersecurity experts advise staying alert to any unusual details in an email, a phone call or operations in stores where payment can be made by contactless, fingerprint payment, among others. Also, activate two-factor authentication on all devices, which is highly effective against digital fraud.

M.Pino

With information from international media

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This year South Korea will implement the Virtual Currency Monitoring System, according to an announcement by the Ministry of Justice of the Asian country, which will have as its main objective to reduce crimes related to the crypto market, such as theft of funds and money laundering.

The regulation of transactions in Bitcoin and other cryptocurrencies will be implemented this year, according to the South Korean newspaper ‘khgames’, with monitoring of the origin of the money in each operation, seeking to reduce illegal activities.

The South Korean Ministry of Justice has indicated that the Virtual Currency Tracking System will be implemented as “a response to the sophistication of crime, we will improve the forensic infrastructure. We will build a criminal justice system that meets international standards.”

This system is expected to come into force in the first half of 2023, with the promise of a second control mechanism that would be launched in the second half, according to the Executive.

The creation of a secure trading environment for holders of Bitcoin and other cryptocurrencies in South Korea requires the cooperation of various security entities, such as crypto exchanges, the police and other investigative entities, among others.

M.Pino

Source: bolsamania

(Reference image source: Traxer, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada South Korea to launch Virtual Currency Tracking System apareció primero en Bitfinance.