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Can Cyber Breach Investigation Reports Be Protected Work Product?

10 May 2022
Knowledge Base

by Matthew Verga

As we have noted before, cyberattacks are a growing area of concern, both inside and outside of the legal industry, and “cyberattacks in 2020 were particularly crippling because of how much more legal professionals relied on email and internet-based access to maintain operations.” With so many breaches occurring and so many breach investigations being conducted, it is important to consider the discoverability of reports and other materials generated by those investigations. As two recent cases demonstrate, it can be difficult to satisfy the requirements for work product protection of such reports. Continue reading…

Exploring the monetary policy and financial stability implications of central bank digital currencies

06 May 2022
Knowledge Base

Fabio Panetta, Member of the Executive Board of the European Central Bank, gave an opening speech at the IESE Business School Banking Initiative Conference on Technology and Finance, Frankfurt am Main on 8 April 2022. Thank you for inviting me to this conference. As it explores the interplay between technology and finance, I have chosen to focus my remarks on retail central bank digital currencies (CBDCs) – in other words, the possibility for everyone to use public money for digital payments. It’s hard to think of a better day to discuss the advances of research in this field. Today would have been the 118th birthday of the great economist Sir John Richard Hicks, who once said that “much of economic theory is pursued for no better reason than its intellectual attraction; it is a good game.” Continue reading…

Eurojust supports joint investigation team into alleged core international crimes in Ukraine

20 April 2022
Knowledge Base

Eurojust supported the setting up of a joint investigation team (JIT) into alleged core international crimes committed in Ukraine. The responsible national authorities of Lithuania, Poland and Ukraine signed a JIT agreement on 25 March to enable the exchange of information and facilitate investigations into war crimes, crimes against humanity and other core crimes. Participation in the JIT may be extended to other EU Member States, third countries or other third parties in due course. Continue reading…

Digital Markets Act: Commission welcomes political agreement on rules to ensure fair and open digital markets

25 March 2022
Knowledge Base

The Commission welcomes the swift political agreement reached yesterday between the European Parliament and EU Member States on the Digital Markets Act (DMA). The regulation, agreed in slightly more than a year after it was proposed, is among the first initiatives of its kind to comprehensively regulate the gatekeeper power of the largest digital companies. Commissioner for the Internal Market Thierry Breton (see photo) said: “This agreement seals the economic leg of our ambitious reorganisation of our digital space in the EU internal market. We will quickly work on designating gatekeepers based on objective criteria. Within 6 months of being designated, they will have to comply with their new obligations. Through effective enforcement, the new rules will bring increased contestability and fairer conditions for consumers and business users, which will allow for more innovation and choice in the market. We are serious about this common endeavour: no company in the world can turn a blind eye to the prospect of a fine of up to 20% of their global turnover if they repeatedly break the rules.”
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ECB’s Christine Lagarde and Luis de Guindos on the Ukraine-Russia War

11 March 2022
Knowledge Base

Christine Lagarde, President of the European Central Bank, and Luis de Guindos, Vice-President of the European Central Bank, Frankfurt am Main, made a statement on the 10th of March 2022 with regards to the Ukraine-Russia War. The Russian invasion of Ukraine is a watershed for Europe. The Governing Council expresses its full support to the people of Ukraine. We will ensure smooth liquidity conditions and implement the sanctions decided by the European Union and European governments. We will take whatever action is needed to fulfil the ECB’s mandate to pursue price stability and to safeguard financial stability. Continue reading…

12 targeted for involvement in ransomware attacks against critical infrastructure

18 November 2021
Knowledge Base

A total of 12 individuals wreaking havoc across the world with ransomware attacks against critical infrastructure have been targeted as the result of a law enforcement and judicial operation involving eight countries. These cyber actors represented a dangerous combination of aggressive disruption and high-stake targets. The attacks are believed to have affected over 1800 victims in 71 countries. These cyber actors are known for specifically targeting large corporations, effectively bringing their business to a standstill. The actions took place in the early hours of 26 October in Ukraine and Switzerland. Most of these suspects are considered high-value targets because they are being investigated in multiple high-profile cases in different jurisdictions. Continue reading…

Nine taken into custody over ATM attack tutorials and string of explosive attacks

26 October 2021
Knowledge Base

A joint investigation team (JIT) between the Dutch and German authorities has taken down an organised crime group specialised in explosive attacks on Automatic Teller Machines (ATMs). A total of nine suspects have been taken into custody as a result of this 18-month investigation coordinated by Europol and Eurojust. The criminals were producing step-by-step tutorials on how to blow up cash machines, and have been linked to at least 15 ATM attacks in Germany. The cash machines were blown open using homemade explosive devices, posing a serious risk for residents and bystanders. During one of the test runs of an explosion, one of the suspects died, with the other suspect getting seriously injured. Continue reading…

Digital version of pick-pocketing has surfaced in 2021

06 October 2021
Knowledge Base

by Nigel Rizzo

Researchers have found a security flaw in Apple Pay with a Visa card in the digital wallet. The digital version of pick-pocketing works over the air even when the iPhone is locked. Although the new setting ‘express transit’ allows millions of people to pay without a card, it makes it easier for hackers to steal from your phone. The iPhone could be in a bag or in someone’s pocket and be charged without the owner’s consent and there is no transaction limit.

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Nearly 90 victims saved from severe labour exploitation in Italy

04 October 2021

In the early hours of 4 September, coordinated simultaneous actions in Basilicata (Italy) and in the Republic of Moldova resulted in the takedown of a criminal human trafficking network, saving nearly 90 victims from severe labour exploitation under horrid conditions. In the coming days, authorities will focus on tracing the victims of exploitation to provide legal assistance and protection. The joint action was the result of an intense investigative effort and structured international judicial cooperation during the past year coordinated through the Italian Desk at Eurojust in close cooperation with the Eurojust contact point in the Republic of Moldova at the General Prosecutor’s Office and with the support of Europol. Continue reading…

Risk in Focus 2022: Hot topics for internal auditors

29 September 2021
Knowledge Base

While the coronavirus pandemic continues to disrupt the corporate landscape in the present, the new edition of ECIIA’s Risk in Focus Report highlights climate change as the rising risk of the future. The Risk in Focus 2022 tracks the risks facing organisations year-on-year as ranked by more than 700 Chief Audit Executives (CAEs) representing a range of organisations including leading businesses, public sector organisations and NGOs from across Europe. Climate change has been steadily moving up on the agenda, climbing four positions in the rankings since 2021 and seeing a 41% increase in CAEs who view it as a top five risk, putting it in the top ten for the first time. But, 7 in 10 (69%) of CAEs still don’t consider climate change as a ‘top five’ risk to business, and just one in 10 (12%) internal audit teams have said they are prioritising spending significant time and effort preparing for the ‘existential risk’ of climate change. So, we encourage organisations to act now to avoid disruption in the future. Continue reading…