IFN Islamic Fintech, a “one-stop-shop” for business information, networking, and communication within the world Islamic monetary know-how house, revealed on July 30, 2020, that there are actually at the very least 142 Fintech corporations globally that reportedly present Shariah-compliant services and products.

As reported in late June 2020, there have been at the very least 127 Islamic Fintech corporations that had been launched, globally.

In accordance to IFN, the UK has essentially the most Islamic Fintechs because the nation is house to 27 corporations that supply Sharia-compliant monetary merchandise. Malaysia has 19 such corporations, the United Arab Emirates (UAE) is house to at the very least 15 Islamic Fintechs, Indonesia has 13, Saudi Arabia has 9, and the US reportedly has 9 such corporations.

As reported lately, the stakeholders and different ecosystem individuals of the Islamic Fintech sector have outlined key precedence areas that they consider will assist with reinforcing and selling monetary inclusion in Malaysia.

The REDmoney Group, an Islamic Finance Information writer, and the Malaysia Digital Financial system Company (MDEC) have advisable that business individuals ought to set up an Islamic Fintech taskforce. They’ve additionally instructed that there ought to be tasks that target supporting digital and Islamic monetary literacy initiatives.

Abdulaziz bin Nasser al-Khalifa, the CEO at Qatar Growth Financial institution, lately famous that the nation is targeted on creating “good” authorities infrastructure, and revolutionary Islamic Fintech merchandise that may assist a cashless economic system and all-digital World Cup expertise.

IFN reported on July 24 that fee platform, cWallet Qatar, which makes use of the most recent monetary know-how to serve low-income staff within the MENA and ASEAN areas, is within the technique of buying a Shariah-compliance certification. cWallet mentioned that it ought to have the ability to get hold of the certification within the coming two months.

On July 16, 2020, the IFN Islamic Fintech staff revealed that that they had added 5 crowdfunding platforms from Saudi Arabia and one Robo-Advisory platform from america.

A 17-year-old teenager in Hillsborough County, Florida has been arrested in relation to the excessive profile Twitter (NYSE:TWTR) hack that lately occurred. Hillsborough county the place Tampa is positioned.

BREAKING: Hillsborough State Lawyer @AndrewWarrenFL publicizes arrest of 17-year-old Graham Ivan Clark in “Bit-Con” hack of outstanding Twitter customers together with Invoice Gates, former President Barack Obama and Elon Musk. pic.twitter.com/4kkeITvJ22

— Aaron Mesmer FOX 13 (@AaronMesmer) July 31, 2020

State Lawyer Andrew Warren is quoted in a number of stories claiming:

“These crimes had been perpetrated utilizing the names of well-known individuals and celebrities, however they’re not the first victims right here. This ‘Bit-Con’ was designed to steal cash from common People from all around the nation, together with right here in Florida. This huge fraud was orchestrated proper right here in our yard, and we is not going to stand for that … “I need to congratulate our federal legislation enforcement companions—the US Lawyer’s Workplace for the Northern District of California, the FBI, the IRS, and the Secret Service—in addition to the Florida Division of Legislation enforcement. They labored rapidly to research and determine the perpetrator of a complicated and intensive fraud.”

Earlier this month, Twitter was hacked with outstanding accounts hijacked. Names like Apple, Uber, Elon Musk, Invoice Gates, Joe Biden, Warren Buffet, and sure, even Kanye West, and extra had been targets of the rip-off. The tweets had been rapidly scrubbed however not earlier than roughly $100,000 was pilfered.

The person in query is claimed to be charged as an grownup. Two different people are being reported as accomplices.

Allison Nixon, Chief Analysis Officer and Mark Rasch, Chief Authorized Officer, at Unit 221B, a cybersecurity agency specializing in financially motivated cyberattacks, have revealed a weblog submit claiming the hack was a part of a VPN phishing rip-off.

The 2 cybersecurity consultants clarify that the hacker would name an worker, maybe spoofing a telephone quantity after which direct them to a phish web page mimicking an inside VPN portal belonging to the corporate.  The goal could be advised to log into the “inside” company web site which was actually managed by the hacker after which the worker could be induced to enter their entry info:

“With a purpose to entry the VPN, the legit worker was required to have multi-factor Authentication. Usually a consumer ID, a password, after which a pin which might solely be despatched to their safe mobile phone. However because the sufferer was logging into the phish web page and giving up their credentials and time-sensitive one-time-password, the hacker was concurrently getting into the identical info on to the true company VPN. When the company VPN asks for a consumer ID and password, it will ship the pin again to the worker. The worker did precisely what they had been educated to do. They might put within the pin, the multi-factor authentication was handed to the hackers web site and the hacker can seize that pin and enter it into their very own entry to the VPN. Multi-factor Authentication, defeated!”

Yesterday, Twitter posted an replace offering some further perspective on the “social engineering” that focused a small variety of staff by way of the spear phishing assault. The corporate acknowledged that the hack required the attackers to acquire entry to each their inside community in addition to particular worker credentials that granted them entry to inside assist instruments.

The world is stuffed with tender targets, defined the 2 cybersecurity consultants.

Digital property alternate OKEx introduced on Friday it held its newest Buying and selling Contest final week with one in all CoinList’s largest-ever ICO tokens, Filecoin (FIL), and a complete prize pool of 50,000 USDT. OKEx reported that beginning at 9:00 am UTC on July 23rd and operating for one week (till 9:00 am UTC on July 30th), the highest 300 merchants by way of perpetual swap buying and selling quantity earned a share of the 50,000 USDT prize pool.

OKEx additional revealed that in addition to the possibilities of successful USDT, the primary 300 newly registered customers who accomplished OKEx’s KYC1 verification and traded the favored FILUSDT perpetual swap for greater than 100 USDT will obtain a fee rebate card of 30 USDT.

“Greater than 5,500 contracts with a notional worth of round $990,000 had been traded inside two hours of the swap’s launch, and the successful dealer within the competitors racked up an enormous $2.2 million in buying and selling quantity, taking a big slice of market share and displaying encouraging indicators for this token’s future efficiency.”

Talking in regards to the contest, OKEx CEO Jay Hao, acknowledged:

“After listening to the collective voice of the neighborhood, OKEx has taken an progressive strategy to checklist this thrilling new perpetual swap — together with the Buying and selling Contest — as the proper means of stimulating the market and creating pleasure for the brand new itemizing.”

OKEx claimed it made the choice to checklist this undertaking for perpetual swap buying and selling as a part of its ongoing dedication to supply its merchants probably the most various suite of merchandise within the business, permitting them to capitalize on its new-found volatility in addition to have the possibility to compete for a share of 50,000 USDT.

The British Requirements Establishment (BSI) has posted a doc relating to the standardization of safety tokens. Feedback are being requested by events till the 28th of August.

The BSI is the UK’s Nationwide Requirements Physique representing UK financial and social pursuits throughout all European and worldwide requirements organizations. BSI works throughout many alternative sectors of commerce and governmental providers.

In line with its web site, as quickly as a Requirements draft is mature sufficient, it undergoes public session when it’s made obtainable for anybody to view and remark.

Posted in the present day, the request is as follows:

This PAS supplies necessities for the publication of related data and the technical attributes of safety tokens.

It covers safety tokens issued on any distributed ledger system.It doesn’t cowl utility tokens or unregulated tokens.

This PAS is to be used by UK and worldwide safety token issuers.

The PAS can also be of curiosity to safety token holders, traders in safety tokens, safety token exchanges and custodians and every other third events that gives providers to the issuers of safety tokens, traders in safety token and auditors who could be checking conformity.

At the moment, there aren’t any feedback.

The UK Monetary Conduct Authority (FCA) has beforehand addressed safety tokens or digital property which might be securities indicating they are going to be handled just like extra conventional securities. That being stated, the arrival of digital securities brings with it new questions and challenges together with “sensible contracts” and the power to code and handle sure traits that have been beforehand not obtainable. Interoperability amongst the varied ecosystem of protocols is one other query that must be addressed.

The draft doc is out there for obtain for registered customers of the BSI web site.