• Follow us on Twitter @buckeyeplanet and @bp_recruiting, like us on Facebook! Enjoy a post or article, recommend it to others! BP is only as strong as its community, and we only promote by word of mouth, so share away!
  • Consider registering! Fewer and higher quality ads, no emails you don't want, access to all the forums, download game torrents, private messages, polls, Sportsbook, etc. Even if you just want to lurk, there are a lot of good reasons to register!

Probably The Worst Internet Content of All Time

Jump to latest Follow Reply
Sort by date Sort by votes
giphy.gif


 
Last edited:
Upvote 0
What a week for Shitty Content!

RA8m4b.gif


First the Pro Bowl on Sunday, then C Mac gets jumped for claiming 55 different gangs on Monday, the Island Boys harbor a fugitive in their rental McMansion on Tuesday, and today Crazy Crypto Crap:

Meet Heather Morgan: The 'Rapper' and Forbes Contributor Arrested in the $4B Bitcoin Heist
Unlike many people accused of crypto crimes, Heather Morgan has a very active social media presence.
https://decrypt.co/92408/heather-morgan-bitcoin-bitfinex
In brief
  • Posts on various social media account show Morgan had an active New York social life.
  • She is an aspiring rapper and a Forbes contributor.
The crypto world is buzzing over the news that the Justice Department has seized billions of dollars worth of Bitcoin stolen in the 2016 Bitfinex hack—and about the 31-year-old New York woman arrested in the case.

According to the FBI, Heather Morgan and her husband Ilya Lichtenstein conspired to launder funds from the hack, and spent the proceeds on gold, NFTs, and other items.

While you'd expect crypto criminals to keep a low profile, especially those who made off with billions in Bitcoin, that isn't the case with this alleged culprit. Morgan's aspirations to be a rapper, writer, and influencer has left a lengthy trail of pictures and videos on social media, including TikTok.

Morgan, whose lyrics in the video above include "yes that was cheesy/at least I'm not sleazy," also has a website dedicated to her rapper alter-ego named "Razzlekhan." Her website explains that "Just like her fearless entrepreneurial spirit and hacker mindset, Razz shamelessly explores new frontiers of art."

Morgan's LinkedIn profile, meanwhile, describes her as a "Serial Entrepreneur, SaaS Investors and Surrealist." It notes she obtained a BA in Economics from UC Davis, and lists her skills as "Inside Sales" and "Email Marketing."

Morgan's lively social life also included giving talks at New York City salon nights, including one titled "How to Social Engineer Your Way Into Anything" (including, perhaps, the cryptocurrency world).

The Justice Department must, of course, still prove its allegations in court that Morgan laundered the $4.5 billion in Bitcoin stolen from Bitfinex in 2016.

If Morgan is indeed guilty as charged, her lifestyle is in for an abrupt change. According to the Justice Department, she and Lichtenstein face a maximum sentence of 20 years in federal prison for the money laundering charge, plus five more for conspiring to defraud the U.S. government.
Click to expand...







 
Last edited:
Upvote 0
A sample of her œuvre (musical, motivational, and written)







6bPHxdO.png

https://www.forbes.com/sites/heathe...business-from-cybercriminals/?sh=2d83c0562f27
COVID-19 has forced just about everything to go online or close.

Many of us were already doing online shopping and mobile banking well before the pandemic. But social distancing and other quarantine measures have made technology a requirement for our daily lives.


Widespread digital transformation has its benefits, but this rapid change is not without problems.

Companies that didn’t already have distributed teams or work from home policies have struggled to transition to going fully remote amidst the pandemic.

Cybercriminals and fraudsters are taking advantage of this unexpected disruption, leading to a spike in scams and cybercrime. Google reported seeing more than 18 million daily phishing and malware emails in April.

The elderly are particularly vulnerable to these crimes, but the combination of weak cybersecurity and the treasure trove of personal information that’s available on the darknet makes anyone a potential victim.

I spoke with fraud prevention and compliance experts at various financial institutions about how businesses can combat fraud and cybercrime without harming their customer experience. Their insights are particularly helpful amidst this pandemic, but as cybercrime continues to grow, every organization should be thinking about these lessons.

Consider bucketing your customers into different levels of risk
Not all risks are equal. For most organizations, it’s impossible to manually scrutinize every single transaction their customer makes.

BitFlyer’s chief compliance officer, David Zacks recommends separating customers into different “buckets” based on their risk profiles, and then creating appropriate compliance procedures for each level of risk.

Since BitFlyer is a cryptocurrency exchange, the biggest determinants for their buckets are whether or not the customer is a corporate entity or a normal retail customer, as well as the anticipated transaction volume.

“If it’s a corporate entity that doesn’t want limits, we’ll do a pretty extensive manual deep dive to really know our customer. We always make sure we know our customer, but you don’t need to require as much information from retail customers with a low transaction volume because that risk is lower,” explains Zacks.

Like other exchanges, Bitflyer, has standard limits in place to minimize their risks. However, their customers can answer a detailed questionnaire if they want to exceed them. Bitflyer utilizes automated identity verification software to review their customers, but Zacks notes that it’s “important to always have a fallback in case one tool or process doesn’t work.”

“We prefer to prevent the problems from arising rather than utilizing legal resources later. That’s why we try to really know our customers and carefully monitor for unusual activity,” says Zacks.

Could “liveness checks” solve the compliance and usability tradeoff?
According to Deloitte, 37% of financial customers will abandon signup if they feel that an onboarding process takes too long. Another study from Digital Banking Report also said that financial customers will abandon an application if it takes 30 minutes of their time.

Greenlight’s fraud prevention manager, Derek Archambault explains one of the top challenges of a compliance professional is balancing the tradeoff between compliance and usability. He says this is an ongoing process, that is “both an art and science,” which requires analytics and creative thinking.

For example, you could have “very tight compliance, but only a 50% pass rate. While this may be very secure, you’re also turning down tons of legitimate accounts. And then there’s the other attitude: let everyone through, and catch the fraudsters on the fraud side,” says Archambault.

Archambault is a fan of identity verification solutions that use automated “liveness checks.” These checks utilize facial recognition software to compare a quick selfie video to a customer’s photo ID during onboarding. According to Archambault and other fraud prevention experts I spoke with, this is a highly effective fraud deterrent that doesn’t tend to bottleneck customer onboarding.

Use data to create more delightful compliance for customers
Preventing fraud and money laundering is important, but clunky or confusing compliance policies can also accidentally chase away legitimate customers.

Having a PhD in anthropology helps chief risk and compliance officer, Chris Lewis, be a highly empathetic compliance leader at fintech startup, LendUp.

Lewis is a strong believer in proactively using data to improve customers’ lives. He and his team monitor LendUp’s Key Performance Indicators (“KPIs”), paying special attention to what topics drive customer support calls and emails. Lewis believes compliance should “meet regulatory operations, but also drive efficiency.”

“We like to anticipate customer needs; not sit and wait to react to them,” says Lewis. Because LendUp’s “mission assisting subprime consumers, who literally live paycheck to paycheck, in meeting their financial needs,” Lewis wants to make sure they’re not preventing people from getting the financial assistance they need.

Similarly, Lewis recommends close collaboration with customer success to ensure compliance and fraud prevention policies don’t harm customer experience.

"To be successful at compliance, you want to keep the consumer experience, use case, and friction points at the forefront of how you design policies...Put yourself in the shoes of the customer and have deep empathy.”

Great compliance requires strong collaboration and communication
Fraudsters are preying on organizations’ communication challenges amidst the pandemic. BitGo’s chief compliance officer, Matt Parrella told me, “[Compliance] is not a lone wolf. It needs to communicate with other teams, and have the attention of other teams.”

Parrella recommends strong external communication with both regulators and other companies in your space that may also be experiencing the same issues. He advocates that cryptocurrency companies should especially “welcome scrutiny from regulators” in order to build deep trust, “so they can give you the benefit of the doubt when situations come up.” Parrella believes this type of external communication is especially critical for handling the new FATF ( “Financial Action Task Force”) travel rule, which requires cryptocurrency companies to collect and disclose information on transactions of $3000 or more.

Similarly, Cara Gressen St. Martin, the vice president of compliance at Ladder Life Insurance, explained how compliance professionals can’t write effective policy “in a bubble.”

“Some things work in theory, or in the book, but when you try to apply it to real life it doesn’t work. You have to take laws and regulations and make it workable for the people who have to implement them,” says St. Martin.

Early in her career, St. Martin wrote a policy that she initially thought was great, but after sharing it with the 10,000 people who worked at her company, she was told it was unusable in reality.

Afterwards, her colleagues gave her feedback that helped her make her policy more useful and relevant, and she’s been continuing this collaborative practice for developing effective new policies and procedures ever since.

Do you have any other questions about security, privacy, compliance, or fraud prevention? Please ask me, and I’ll try to cover those topics in an upcoming article.
Click to expand...

SnoopyFrequentIcelandicsheepdog-size_restricted.gif
 
Upvote 0
You must log in or register to reply here.
Back
Top