HONOLULU (HawaiiNewsNow) – The Hawai?i State Legislature passed House Bill 1642 CD1 on Monday, marking a step forward in protecting residents from financial fraud schemes that are becoming increasingly tied to cryptocurrency kiosks and digital asset scams.
The measure establishes new regulations for digital financial asset transaction kiosks, commonly known as cryptocurrency ATMs. The legislation prohibits consumers from using cash to purchase cryptocurrency at these machines, while still allowing consumers to cash out cryptocurrency they already own at such kiosks.
“The measure strengthens consumer safeguards and provides additional protections for vulnerable populations, particularly kupuna who are often targeted by sophisticated scammers and coerced to deposit large sums of money into these kiosks,” said Representative Scot Z. Matayoshi, Chair of the House of Consumer Protection &…
IT & DATA SECURITY (MITIGATING THE “INSIDER THREAT”)
As seen in the TD Bank case, an employee with too much “access” can sell your customer data to syndicates.
- Principle of Least Privilege (PoLP): Employees should only have access to the specific folders and databases required for their current task.
- Access Revocation: Have a “Termination Checklist” that ensures all digital access (Email, VPN, Banking) is revoked within 60 minutes of an employee resigning or being dismissed.
- System Logs & Audit Trails: Enable “Read/Write Logging” on your server. If a customer’s data is leaked, you need to know exactly which login accessed that record and at what time.
- Encryption at Rest: Ensure that sensitive files (like your customer ID numbers or payroll spreadsheets) are encrypted so that if a staff member copies them to a USB, they cannot be read.