Money Laundering Alarm Sounded After ‘WannaCry’ Cyberattack

A computer malware attack that spread across 150 countries and hit both the public and private sectors should be a “wake-up call” for the financial sector, experts have warned, as cyber criminals seek to launder their ill-gotten gains.

The sophisticated ransomware attack, dubbed “WannaCry”, started to take hold of multiple institutions on Friday; hundreds of thousands of computers have since been infected, with attackers demanding $300 in Bitcoin to restore access.

Those targeted include the UK’s National Health Service, Germany’s rail network, US logistics firm FedEx and Russia’s interior ministry, as the attack spread across the globe at an unprecedented speed, which is only just showing signs of relenting. 

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