PYMNTS

DECEMBER 18, 2020

18) that the government says would make convertible digital currencies like bitcoin less attractive to criminals engaging in crimes such as ransomware attacks. Treasury Department proposed sweeping new rules late Friday (Dec.

Treasury 141

Treasury Rules Bitcoin Ransomware 141

Fintech Finance

JUNE 20, 2024

Flutterwave , Africa’s leading payments technology company, has committed to partnering with Nigeria’s Economic and Financial Crimes Commission (EFCC) to establish and lead a state-of-the-art Cybercrime Research Center.

Financial Crimes 97

Financial Crimes Crime FBI Law Enforcement 97

Payments Source

NOVEMBER 9, 2018

A new group aims to foster collaboration between fintechs and state and federal officials in the fight against crime — without hindering legitimate business innovation.

Law Enforcement 63

Law Enforcement Laws FinTech Crime 63

Fintech News

JULY 17, 2024

The rapid ascent of cryptocurrency has ushered in a new era of financial innovation, but it has also created novel challenges in combating financial crime. These figures underscore the immense challenge facing regulators and law enforcement agencies in their efforts to curb illicit financial flows in the crypto space.

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

The Fintech Times

JUNE 21, 2024

Both firms and governments across the globe have a duty to do all they can to intensify the fight against internet crime and looking to do so in Nigeria, Flutterwave , the African paytech, has partnered with Nigeria’s Economic and Financial Crimes Commission (EFCC).

Crime 64

Crime Research Financial Crimes FBI 64

PYMNTS

OCTOBER 7, 2020

With transactions that become irreversible almost instantaneously, bitcoin and other cryptocurrencies are winning new converts — among scammers eager to avoid credit card chargebacks that can eat into their ill-gotten gains. So, use your credit card to buy cryptocurrency that you give a scammer and you might be stuck.

Bitcoin 93

Bitcoin Consumer Cryptocurrency Scams 93

PYMNTS

AUGUST 14, 2019

The second was the rise of cryptocurrency (though during his remarks he tended to refer to it as Convertible Virtual Currency or CVC). and around the world. In the era of advanced AI, it also has the power to be tool across all of law enforcement; applicable to uses ranging from fighting the opioid epidemic or taking on terrorism. “In

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

PYMNTS

NOVEMBER 26, 2018

Deputy Attorney General Rod Rosenstein, is seeking to gain international support in dealing with crimes tied to digital currencies. “We We must not allow cybercriminals to hide behind cryptocurrencies,” Rosenstein said at the the annual meeting of Interpol, according to CoinDesk. “In The United States, through U.S.

Crime 58

Crime Money Laundering Law Enforcement Correspondent Bank 58

PYMNTS

MARCH 27, 2017

As far as cryptocurrencies have come in recent years, a number of security and fraud risk elements still remain. Chainalysis collaborates with Europol to link digital identities to digital currency, helping banks and law enforcement investigate suspicious activity. “We

Cryptocurrency 44

Cryptocurrency Law Enforcement Money Laundering Security 44

The Fintech Times

AUGUST 20, 2024

Global cryptocurrency exchange Binance is joining forces with the Macau Judiciary Police to launch a joint anti-scam campaign to increase risk awareness and reduce the risk of fraud in the digital space. Carlos Mak of Binance’s Financial Crimes Compliance Unit, commented: “Binance’s primary goal is always to protect users.

Scams 59

Scams Risk Law Enforcement Transactions 59

CB Insights

DECEMBER 9, 2021

California-based TRM Labs offers blockchain analytics and assists cryptocurrency firms, law enforcement agencies, and financial institutions in addressing fraud and financial crime stemming from crypto transactions. How’s the company performing?

Law Enforcement 63

Law Enforcement Compliance IRS FBI 63

The Fintech Times

JULY 25, 2024

Binance , the global cryptocurrency exchange, has released findings in its report on how Latin Americans are perceiving and using cryptocurrencies and the web3 ecosystem. According to Binance, one in two cryptocurrency users (50.3 per cent) in Latin America (LatAm) invests in digital assets seeking savings and long-term gains.

Law Enforcement 59

Law Enforcement Cryptocurrency Laws Blockchain 59

The Fintech Times

NOVEMBER 26, 2024

With over 240 million customers across the globe, global blockchain ecosystem and cryptocurrency exchange, Binance is seeking top compliance and investigation talent to ensure it can keep pace with the industry and company’s rapid maturation and growth. “We She is a Fellow Chartered Accountant (FCA) in England and Wales.

Compliance 64

Compliance Financial Crimes Crime Money Laundering 64

FICO

DECEMBER 23, 2020

Here is how we predict banks will endeavor to enhance their financial crimes controls in 2021: 1. We expect these advanced analytics will play an even greater role this year in the prevention and detection of money laundering, terrorist financing, and other illicit financial crimes. Regulators Will Zero in on Closing the Gaps.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

The Fintech Times

AUGUST 31, 2024

According to the second part of the Mid-Year Crime Update , in 2020, scams that started at the beginning of the year lasted 271 days. Saying that, there are clear cases involving asset freezes and law enforcement intervention that show how victims can still be made whole,” added Jardine. per cent in 2022.

Romance Scams 59

Romance Scams Scams Law Enforcement Crime 59

PYMNTS

AUGUST 6, 2020

law enforcement,” said Acting U.S. Cryptocurrencies have been used in crimes quite frequently as of late. “These charges are a warning to drug traffickers worldwide that neither the shroud of the darknet or of virtual currency can hide their illegal activities from the vigilance of U.S.

Bitcoin 71

Bitcoin Law Enforcement Crime Cryptocurrency 71

PYMNTS

DECEMBER 5, 2018

Cryptocurrency exchange ErisX announced that it has raised $27.5 Department of Homeland Security (DHS) wants to develop forensic analysis techniques for cryptocurrencies like Zcash and Monero. million from investors, including Fidelity Investments and Nasdaq Ventures.

Law Enforcement 66

Law Enforcement Blockchain Bitcoin Cryptocurrency 66

PYMNTS

JULY 16, 2019

government has developed a plan that aims to fight financial crimes, including “action on crypto-assets.”. The Economic Crime Plan from H.M. Treasury and the Home Office wants to change the way economic crime is handled by boosting cooperation between government, law enforcement and the private sector. “To

Credit Cards 40

Credit Cards Crime Law Enforcement Blockchain 40

PYMNTS

MARCH 3, 2020

Justice Department (DOJ) with laundering over $100 million worth of cryptocurrency that was previously hacked by North Korean fraudsters, the DOJ said on Tuesday (March 3). and unsealed on Monday (March 2), Tian Yinyin and Li Jiadong allegedly laundered cryptocurrency stolen by North Korean hackers between December 2017 and April 2019. “The

Law Enforcement 56

Law Enforcement Money Laundering IRS OFAC 56

PYMNTS

FEBRUARY 20, 2020

Steve Chen, the mastermind behind a $147 million gemcoin fraud from 2013 to 2015, pleaded guilty of his crimes of tax evasion and conspiracy to commit wire fraud, reported on Wednesday (Feb. In other crime-related crypto news, a drug dealer has lost millions in cryptocurrency after a judge ruled that it was the proceeds of criminal activity.

Bitcoin 52

Bitcoin Law Enforcement Crime Cryptocurrency 52

PYMNTS

DECEMBER 23, 2019

A 22-year-old Turkish man from London was convicted of attempting to blackmail Apple out of $75,000 in cryptocurrency or a thousand $100 iTunes gift cards by falsely claiming he had access to iCloud and other Apple accounts, various outlets reported on Monday (Dec. The National Cyber Crime Unit of the U.K.’s

Crime 55

Crime Law Enforcement Compromise Laws 55

PYMNTS

JUNE 16, 2020

He also recommended that the Financial Stability Oversight Council (FSOC) be charged with “the responsibility to create a framework for regulating cryptocurrencies and developing guidelines for strong protections against money laundering and cybersecurity threats to those marketplaces.”.

Cybersecurity 90

Cybersecurity Money Laundering Treasury FBI 90

PYMNTS

MAY 12, 2019

and an investor in cryptocurrency, won $75.8 The report noted it’s one of the biggest court judgments involving cryptocurrency and an individual. It also shines a light on the scams and schemes going on in the cryptocurrency world as the price remains volatile and well under its high of nearly $20,000.

Law Enforcement 46

Law Enforcement Cryptocurrency Crime Scams 46

PYMNTS

MARCH 9, 2020

In today’s top payment news, Amazon begins selling its “Just Walk Out” technology to other merchants, plummeting oil markets cause a ripple effect in cryptocurrency, and 5G is predicted to add $2.2 Cryptocurrency markets are plummeting after oil prices crashed and the stock market spiraled in another sell-off frenzy.

Law Enforcement 55

Law Enforcement Cryptocurrency Financial Crimes PayPal 55

PYMNTS

FEBRUARY 19, 2020

Treasury Department’s Financial Crimes Enforcement Network (FinCEN) said in a press release. . Topics discussed included cryptocurrency business models, money laundering and terrorist finance risks, illicit typologies and the role of FIUs in tracing virtual assets. . Blanco and Marko Stolle, deputy director of Germany’s FIU.

Fincen 60

Fincen Money Laundering Law Enforcement Financial Crimes 60

PYMNTS

MARCH 4, 2020

The Financial Crimes Enforcement Network (FinCEN) has fined Michael LaFontaine, former chief operational risk officer at U.S. Bank had in place erroneously capped the number of alerts, which hindered law enforcement’s ability to spot suspicious activity. The automated transaction monitoring software U.S.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52

PYMNTS

APRIL 28, 2019

The police have been investigating bitcoin machines at Tampines One Mall in Singapore that featured posters claiming to be an alert from law enforcement about the crypto, but were actually put up by scammers attempting to trick people to call a phone number. This is just the latest crypto scam to hit the country.

Scams 59

Scams Bitcoin Business Email Compromise Law Enforcement 59

Neopay

JULY 18, 2024

The Scale of Money Laundering Global Scale: The United Nations Office on Drugs and Crime estimates that annual laundering volumes range from 2% to 5% of global GDP. Cryptocurrency: Chainalysis reported that $23.8 billion in cryptocurrency was laundered in 2022, representing a 68% increase over 2021. trillion and $5.54

Money Laundering 52

Money Laundering AML Crime Cryptocurrency 52

PYMNTS

APRIL 18, 2017

With that new focus also comes the rise of the payment hustler — a new breed of fraudster that deals in illicit products of services, typically operates online and has progressed from transaction laundering to payments laundering in the pursuit to get paid from their illegal crimes. Knocking the Payment Hustler.

Law Enforcement 45

Law Enforcement Money Laundering Payments Online and Mobile Banking 45

PYMNTS

OCTOBER 18, 2019

Sometimes the darkest deeds, even done through cryptocurrency means, come to light. As reported in chainalysis.com , a number of law enforcement agencies announced arrests and forfeitures tied to the crackdown on the site. Immigration and Customs Enforcement’s Homeland Security Investigations (HSI).

IRS 41

IRS Law Enforcement Bitcoin Money Laundering 41

The Fintech Times

MAY 30, 2024

From the moment a cryptocurrency firm is formed, it is already facing an uphill battle. As regulatory and law enforcement agencies across the globe are doggedly seeking to assert jurisdiction over the crypto industry, many companies have come under intense scrutiny in recent years due to many cases of compliance violations.

Compliance 64

Compliance Security Legal Blockchain 64

PYMNTS

MARCH 2, 2018

The hardware was reportedly snatched from data centers in Iceland in what local law enforcement calls the biggest theft in the island nation’s histor y. Thus far, 11 people have been arrested in connection with the crime that the Icelandic media have called the “Big Bitcoin Heist.”

Bitcoin 44

Bitcoin Law Enforcement Crime Digital Currency 44

PYMNTS

APRIL 6, 2018

The head of two cryptocurrency exchanges in South Korea were detained by law enforcement for allegations they embezzled the assets of customers. The action on the part of South Korean prosecutors is the latest in a series of raids the country has been conducting on the largest cryptocurrency exchanges.

Law Enforcement 43

Law Enforcement Bitcoin Cryptocurrency Caps 43

PYMNTS

JANUARY 11, 2021

Put another way, it's the company that made it possible for PayPal’s recent announcement that it would allow its users to buy, sell and hold cryptocurrency. “So There’s also the fact that different federal agencies are simultaneously drafting and enforcing conflicting regulations. For example, Bitcoin is not money.

Blockchain 77

Blockchain Settlement Bitcoin Law Enforcement 77

PYMNTS

AUGUST 3, 2018

The news comes after Costanzo was convicted of using the cryptocurrency to launder drug money. In addition, Costanzo reportedly used bitcoin to purchase drugs, and he also provided the cryptocurrency to individuals who were buying drugs online. The Justice Department said the bitcoins are worth more than $600,000 today.

Bitcoin 40

Bitcoin Money Laundering Law Enforcement Cryptocurrency 40

PYMNTS

MARCH 13, 2017

Fraudsters are always looking for unsuspecting payments types that can be used to perpetrate their crimes. APMs are extremely vulnerable because of their tendency to unwittingly enable crime and fraud. Today, that means alternative payment methods, or APMs. The APM Growth Trajectory.

AML 59

AML Credit Cards Payments Law Enforcement 59

Global Fintech & Digital Assets

NOVEMBER 2, 2023

Yatter , and Deric Behar On October 19, 2023, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a Notice of Proposed Rule Making (NPRM) that would designate as a “primary money laundering concern” all non-US convertible virtual currency [1] mixing (CVC mixing). By Parag Patel , Eric S.

Fincen 52

Fincen Money Laundering Law Enforcement Non-Bank 52