Christine Barry
Research Director, Wholesale Banking
Aite Group
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21 months, $100 million, one Qilin suspect in custody
The investigation progressed from victim reporting and incident response to attribution, arrest, and ultimately extradition. Today Germany appears to have one core member of Qilin in custody and at least three additional members identified. What does this mean for Qilin? The group continued claiming a high number of victims in the months following the arrest, even surging to 163 in August. A threat group of Qilin’s caliber should be able to survive the loss of a single developer.
The Attrition Crisis in Treasury Management: What Banks Need to Know
Banks face a mounting loyalty crisis. More than 70% of large and midsize U.S. businesses turn to fintechs to address key cash management and payment needs. Additionally, more than 27% plan to switch financial institutions in the next two years, while most banks are adding new treasury management clients at rates below 3% of their existing client base. The math is simple: attrition is outpacing acquisition at many institutions.
The fake worker threat and the rise of human infiltration
One of the most important pieces of infrastructure is the laptop farm, which is a physical location operated by a domestic facilitator. A laptop farm hosts company-issued laptops for the worker to use remotely. This creates a technical footprint in the target country, helping remote workers hide their true locations. These laptop farms and other domestic facilitator activities became targets of law enforcement in March 2024 under the DPRK RevGen: Domestic Enabler Initiative. Why fake workers?
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