Leaked documents, dubbed the “FinCEN Files,” describe global money laundering of $2 trillion processed by many of the world’s biggest banks between 2000 and 2017. The reveal illuminates the struggle for the financial industry and government to provide ironclad data protection.
“This sensational and unprecedented leak clearly demonstrates a wide spectrum of data protection weaknesses in the governmental sector, affecting even the most developed Western countries,” Ilia Kolochenko, founder and CEO of ImmuniWeb, said of the files.
“From a cybersecurity standpoint, we may expect a growing lack of trust to governmental agencies, which on one side have quasi-unlimited access to the most sensitive data of the largest organizations, while cannot duly safeguard this data on the other side,” he said.
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