Rage Weekly Data Breach Special
Rage Weekly is a weekly linkdump bringing the best content on financial surveillance and beyond directly to your inbox. Subscribe for free or read all issues online.
AML/CFT laws mandate the mass collection of data on customers. These laws span further than simple KYC, increasingly encompassing far-reaching data retention policies as proposed in the EU's Chat Control to combat crime. Since beginning the Rage Weekly newsletter, almost every edition featured a data breach involving customer information.
In 2022, 78% of European Banks were targeted in a data breach. The threat of stolen information has become so grave in the banking sector, that even the IMF, which advocates for the mandating of increased data collection policies together with FATF, has issued a report on data breaches in the financial sector and its 'serious effects' on financial stability.
In honor of the global escalation in data collection and surveillance, here's a Rage Weekly special edition of recent data breaches just in case anyone tries to tell you that less privacy equals more safety.
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