Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.
The US will work together with other nations to detect any illicit activity to make the internet a safe place for others.
On the occasion of cyber security awareness month, US president Joe Biden has stated that he will be putting more effort to thwart increasing criminal activity in terms of digital money laundering via the Internet. He further asserted that the US will be partnering with other nations to bring about a digital transformation that will ensure proper law implementation to prevent cybercrime. Biden also said that he intends to make the virtual space more compact and sturdy in terms of security.
US to Work with Its NATO Allies and G67 Members to Combat Cybercrime in the Crypto Space
As per the release issued by the White House, the US will work in synchronization with other nations and prevent any illicit activity to make the internet a safe place for others. Biden also emphasized that he will require the cooperation of every American citizen to curb the prevalent illegality that has taken a hold of the Internet in all these years.
Biden further stated that to combat the accelerated cybercrime issues, the citizens must encrypt their online proceedings and data using multifaceted authentication. He also commented that the technology must be built securely by design, which will encourage users to understand the related risks and will assist them in knowing which online technology is best suited for them.
The US president also opined that he is committed to serving the citizens by transforming the digital infrastructure against growing cyber-attacks. He also stated that he will suggest a more transparent path for the other nations to help them combat cybercrime and also work towards disrupting ransomware attacks to keep the online security robust and durable.
The Biden-led administration has been pursuing stricter laws and regulations related to cybercrime and ransomware attacks. The US treasury in September had earlier issued a statement that included a new set of actions intended towards prohibiting cybercrime and crypto laundering for ransoms. It is to be noted that the Bank of International Settlement (BIS) had previously stated in June that cryptocurrencies are often used to facilitate money laundering, ransomware attacks and are also used actively to conduct other financial crimes.
Biden further reiterated and clarified that he will take rigorous measures and will hold accountable those who pose a threat to the nation’s cybersecurity.