Is Crypto Criminals' Favorite Tool?

A deep dive into ransomware, crypto, and regulation: an interview with Carole House.

As ransomware attacks continue to escalate globally, the role of crypto and its implications for cybersecurity has become a pressing concern. In this Premium interview, cybersecurity expert and former director of cybersecurity and secure digital innovation at the National Security Council Carole House addresses these urgent issues.

Show highlights:

• how ransomware attacks and their impact on critical infrastructure has evolved over time

• Carole's perspective on the complex role crypto plays in cybercrime, emphasizing the need for stronger controls

• how the absence of strict anti-money laundering (AML) and Know Your Customer (KYC) requirements have contributed to a sophisticated economy for cybercriminal activities

• the potential advantages of public ledgers in the fight against cybercrime, owing to the transparency of crypto transactions

• why Carole is optimistic about crypto's potential role in enhancing cybersecurity, with a nuanced understanding of the technology and its vulnerabilities

• the importance of international cooperation and the implementation of global standards in combating the illicit use of cryptocurrencies

• an overview of the unique regulatory challenges posed by Decentralized Finance (DeFi) and the potential national security threats it poses without proper controls in place.

• how the rise of privacy-enhancing innovations, such as homomorphic encryption and zero-knowledge proofs, could impact the regulatory landscape of DeFi.

• Carole's call for built-in governance mechanisms to prevent the sector from becoming a “highly obfuscated and disintermediated system.”

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