PYMNTS

SEPTEMBER 28, 2020

PYMNTS' September Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , analyzes the pandemic-era fraud landscape and identifies its many pitfalls. Financial crime-fighters simply won’t suffer this state of affairs. Isn’t it just like a crook to exploit a bad situation?

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

PYMNTS

AUGUST 5, 2019

Business email compromise (BEC) attempt scams are gaining traction, targeting billions of dollars in ill-gotten gains. Taken on a daily basis, the BEC scams have tried to siphon off $8.7 BEC scam methods have evolved over time. million daily from companies individual victims. Targeting County Governments.

Business Email Compromise 43

Business Email Compromise Fincen Scams Email Compromise 43

PYMNTS

JULY 7, 2020

Treasury Department’s financial crime unit has alerted financial institutions (FIs) about imposter scams arising during the COVID-19 pandemic. . On Tuesday (July 7), the Financial Crimes Enforcement Network (FinCEN) issued an advisory to enhance efforts by FIs to stop suspected illegal activity.

Scams 52

Scams Fincen Financial Crimes Crime 52

PYMNTS

JULY 29, 2019

As noted by the Financial Crime Enforcement Network (FinCEN), the number of reports of BEC rose to a monthly average of more than 1,100 in 2018, where the tally had been 500 in 2016. Business E-mail Compromise (BEC) fraud has been gaining ground and growing in terms of number of incidences, according to a recent report.

Business Email Compromise 55

Business Email Compromise Scams Fincen FBI 55

PYMNTS

AUGUST 12, 2019

more than a half-million dollars of taxpayer money in Virginia’s Spotsylvania County has been taken in tandem with a BEC scam — and the money was supposed to be used to build a football field for a local high school. The news comes as the Financial Crimes Enforcement Network (FinCEN), part of the U.S.

Business Email Compromise 59

Business Email Compromise Scams Fincen Compromise 59

Stax

NOVEMBER 27, 2023

That’s a lot of money being exchanged—and also provides a huge amount of possibility for financial crime. Financial crime can take on several faces, including (cyber) fraud, cryptocurrency scams, and money laundering—and companies offering financial services can lose out on serious bucks. billion for its role in financial crime.

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

PYMNTS

FEBRUARY 15, 2019

Department of the Treasury ’s Financial Crimes Enforcement Network (FinCEN) has known about the BEC, and has cautioned against opening such phishing emails. The emails asked those targeted officials to review a PDF that, in turn, linked them to malicious sites. As reported, the U.S.

BSA 49

BSA Credit Union Business Email Compromise Office of the Comptroller of the Currency 49

FICO

AUGUST 4, 2021

Now, I’m going to cover what it means for the wider financial crime space. We saw this in the Panama Papers as well as the FinCEN files. In part 1 of this blog series my colleague defined NFTs or Non-Fungible Tokens. It is well known that dealing in art can be a vehicle for money laundering and terrorist finance.

Money Laundering 66

Money Laundering NFTs AML Fincen 66

PYMNTS

SEPTEMBER 21, 2020

The Financial Crimes Enforcement Network ( FinCEN ) uncovered government documents on how giant financial institutions move trillions of dollars in suspicious transactions, padding their bottom line, while terrorists, drug dealers and corrupt politicians are allowed to run free. FinCEN, a division of the U.S.

Fincen 111

Fincen Suspicious Activity Report (SAR) Money Laundering SARS 111

Finextra

JUNE 6, 2025

Recent data shows that crypto scams resulted in losses exceeding $3 billion in 2024 alone, with fake exchanges accounting for a significant portion of these thefts. FinCEN registration as Money Services Businesses. The Commodity Futures Trading Commission (CFTC) for commodity-based cryptocurrencies.

Cryptocurrency 72

Cryptocurrency Volume Regulatory Compliance Compliance 72

PYMNTS

JULY 19, 2020

Treasury’s Financial Crimes Enforcement Network (FinCEN) warned financial institutions of a high-profile scam exploiting Twitter accounts to try to scam convertible virtual currency from account holders. As word of the hack spread on Thursday (July 16) , the U.S.

Accounts 79

Accounts Fincen FBI Breach 79

PYMNTS

JULY 17, 2020

The attackers posted tweets that appeared to promote a cryptocurrency scam and posted similar tweets on celebrity accounts soliciting donations via bitcoin to their verified profiles, The Journal reported. “We The social media’s headquarters is based in San Francisco. On Thursday (July 16), PYMNTS reported the U.S.

FBI 70

FBI Fincen Scams Bitcoin 70

PYMNTS

MARCH 16, 2020

In other news, the Financial Crimes Enforcement Network ( FinCEN ) is asking financial institutions to be aware of fraudulent or malicious transactions “similar to those that occur in the wake of natural disasters” per a post on the government body’s website.

Fincen 53

Fincen Scams BSA On-Demand 53

PYMNTS

AUGUST 3, 2020

FinCEN Warns Of COVID Scams Targeting FIs, Consumers. The Financial Crimes Enforcement Network (FinCEN) cautioned financial institutions (FIs) and consumers regarding schemes related to COVID-19, including some linked to digital currency. More than eight in 10 – or 82.1

Fincen 64

Fincen Federal Reserve Fed Shutdown 64