Time to migrate 'follow the money' rules to the world of virtual currency

ON Friday, May 12, the world paused and drew breath as cybercriminals launched WannaCryptor (popularly known as WannaCry), a ransomware attack that crippled organisations around the globe. Companies shut down technology that they rely on to trade, to treat patients and to communicate with customers. The results for many of the affected companies and their customers were devastating.

Singapore, fortunately, was spared the worst, the most notable victim here being the digital directory systems at Tiong Bahru Plaza and White Sands shopping centre. However, this does not mean the worst is behind us. Other Asian markets such as Taiwan were heavily affected in this attack, and there is little reason why cybercriminals could not turn their attention to Singapore - a digital and financial hub in the region - next.

Bitcoin - what is it and why is it so popular with criminals?