The US Office of the Comptroller of the Currency (OCC) warned that virtual currencies continue to be used as payment in extortion efforts by criminals aimed at banks and other businesses.
As for virtual currencies, the agency named the emerging technology as an enabler of distributed denial of service (DDoS) efforts and the theft of proprietary information against financial institutions.
However, the OCC also stated virtual currencies are also playing a role in the funding of such efforts by providing anonymity for cyber criminals, including terrorists and other groups seeking to transfer and launder money globally.
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