From the Pub­lisher

Trillions - - News -

The AMERO was sched­uled to launch by the North Amer­ica Pro­cure­ment Coun­cil (NAPC) on June 4th but did not due to the dis­cov­ery on June 1st of se­ri­ous fraud in ven­dor reg­is­tra­tions and ac­cep­tance of AMERO.

Some fraud was ex­pected and was easy to de­tect merely from the IP ad­dress used for the reg­is­tra­tion. But some was not so easy to de­tect.

Also dis­cov­ered was highly so­phis­ti­cated fraud where fake ac­counts and/or AMERO ac­cep­tance were cre­ated us­ing com­put­ers in­side very large com­pa­nies to make it ap­pear as though the reg­is­tra­tion was le­git­i­mate from the IP ad­dress and email ad­dress. This means that the com­put­ers and email sys­tems of some of Amer­ica's largest com­pa­nies are read­ily ac­ces­si­ble to crim­i­nals.

Un­der nor­mal cir­cum­stances, merely call­ing the per­son on the reg­is­tra­tion would be enough to au­then­ti­cate them, but some of the fraud ac­tu­ally ex­tended to in­di­vid­u­als work­ing in­side those same large com­pa­nies.

User au­then­ti­ca­tion is an ex­treme chal­lenge in an era when the most ad­vanced mil­i­tary grade hack­ing tools have been leaked from the CIA and NSA, the per­sonal de­tails of vir­tu­ally ev­ery adult Amer­i­can has been stolen and is avail­able for sale on the dark web and com­pa­nies like Face­book sell in-depth pro­files on their users and those user's friends

The wide­spread us­age of un­trace­able cell phones makes it even harder to know who some­one re­ally is.

It is now very easy for crim­i­nal el­e­ments to ob­tain more in­for­ma­tion on some­one than the per­son ac­tu­ally has on them­selves or is even aware of.

With the de­tails of one's life and sup­pos­edly con­fi­den­tial de­tails such as driv­ers li­cense num­bers, so­cial se­cu­rity num­bers and bank ac­counts read­ily avail­able to any crim­i­nal, it is ex­tremely easy and in­ex­pen­sive to steal some­one's ID. So, how far does the NAPC have to go to re­ally au­then­ti­cate some­one? Ob­vi­ously much far­ther than we had been.

We made the as­sump­tion that be­cause the AMERO is cen­trally man­aged and is un­suit­able for crim­i­nal ac­tiv­ity, crim­i­nals wouldn't bother with it. We were wrong, and now we know that there is in­deed a highly ef­fec­tive in­ter­na­tional crim­i­nal el­e­ment that is likely tar­get­ing all dig­i­tal cur­ren­cies (cryp­tocur­ren­cies), in­clud­ing those de­signed specif­i­cally to be un­suit­able for crim­i­nal ac­tiv­ity.

The NAPC is im­ple­ment­ing ex­ten­sive new se­cu­rity mea­sures and will be work­ing with the In­ter­na­tional Dig­i­tal Mon­e­tary Coun­cil (IDMC) on best prac­tices to elim­i­nate ven­dor reg­is­tra­tion fraud and elim­i­nate the po­ten­tial for other fraud.

AMERO has been cred­ited to the ac­counts of the com­pa­nies who have been au­then­ti­cated but the AMERO won't be re­deemable un­til most ven­dors have been au­then­ti­cated.

It is an­tic­i­pated that the AMERO sys­tem will be fully func­tional by June 18 with all au­then­ti­cated ven­dors able to re­deem their AMERO with other au­then­ti­cated ven­dors.

Grants will be awarded af­ter the sys­tem is fully oper­a­tional and a suf­fi­cient num­ber of ven­dors have been au­then­ti­cated.

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