Ross played down the prospect of an agreement being reached at the G-20 meeting in Osaka on June 28-29.Paris Airshowread more
Boeing is scrambling to restore confidence in the 737 Max from regulators, customers and the flying public.Paris Airshowread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Huawei CEO and founder Ren Zhengfei said that the Chinese tech company will report revenues of around $100 billion in 2019 and 2020, which would be flat growth versus 2018.Technologyread more
Bitcoin leapt across the $9,000 mark on Sunday, boosted by reports that Facebook is soon set to launch its own cryptocurrency.Cryptocurrencyread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread more
Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has...Marketing.Media.Moneyread more
With online gambling set to be worth $39 billion by 2016, the industry is at risk of becoming a safe haven for money laundering, according to a report published on Thursday.
Security software firm McAfee warned of the rapid growth of illegal "unlicensed" online gambling websites, which are now so prolific they are difficult for authorities to police, and where cash flow is anonymous and easy to disguise.
"The number of licensed gambling websites is simply a drop in the ocean compared with sites that are unlicensed. For every licensed online gambling site, there could be up to nine unlicensed online gambling sites," said report authors led by senior McAfee researcher, Charles McFarland.
The report quoted estimates suggesting there were 25,000 unlicensed gambling sites back in October 2011, and said there were likely to be many more by now.
"With dozens of unlicensed gambling sites being created every day, it is likely this number has increased significantly," said McFarland. "Although requiring licenses for gambling operators is an important approach, this step does nothing to halt the tide of unlicensed operators."
Gambling market research firm H2 Gambling Capital said that within three years, the global market (for unlicensed gambling sites or all gambling sites?) would grow by nearly 30 percent to $39 billion. It forecast poker sites would see the fastest growth, and said these sites offered opportunities for money laundering.
Unlicensed sites make it easier for cyber criminals to launder dirty money as player identities and locations are disguised. When used in conjunction with money-laundering tools, they can also allow customers to anonymously convert to and from virtual currencies. McAfee warned that well-known digital currency Bitcoin could offer further anonymity to cyber thieves.
McFarland suggested cross-border and cross-sector co-operation, advanced data-gathering techniques and technologies, and further training and awareness were necessary to help tackle cyber-money laundering.
So far this year, listed online gaming and gambling companies have had mixed fortunes. Online game-maker Zynga reported a first-quarter loss of $61 million this week. Shares closed over 1.5 percent lower on Thursday, although they are still almost 15 percent higher year-to-date.
In the U.K., online bookmakers have also struggled, with the likes of 888 Holdings falling 14 percent since the start of the year, and online betting site Betfair down 10 percent over the same period.