Fintech News

JANUARY 7, 2024

A recent report by blockchain intelligence company TRM Labs reveals a concerning trend of crypto hacks by North Korea, who stole at least US$600 million in cryptocurrency in 2023. Moreover, the DPRK has been continually evolving its money laundering tactics to evade international law enforcement.

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Fintech News

JUNE 3, 2024

In February, one of India’s law enforcement agencies uncovered a money laundering operation involving fake invoices issued by purported shell companies in Singapore for software and other services. Blockchain analysis firm Chainalysis estimates that money laundering activity involving cryptocurrency totaled US$22.2

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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.

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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.

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The Fintech Times

MAY 18, 2024

Binance was able to share its blockchain expertise and intelligence to help law enforcement bring the suspects to justice. By creating fake customer conversation records, remittance proofs, and forged identity verification data, the criminals posed as individual cryptocurrency merchants to make their movement of funds seem legitimate.

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Payments Source

JANUARY 17, 2020

Terrorism financing schemes using cryptocurrencies are growing in sophistication, according to researcher Chainalysis Inc., which helps law enforcement track digital-coin transactions.

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PYMNTS

DECEMBER 18, 2020

The new regulations, if adopted after a comment period, would require banks and some other institutions to obtain and report the identities of parties engaging in certain digital transactions, including payments involving what are called "unhosted wallets" – effectively secret bank accounts that hold cryptocurrency.

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PYMNTS

JANUARY 27, 2021

Instead, he embezzled their cash and cryptocurrency, the release stated. Some criminals believe mistakenly that cryptocurrency is beyond the reach of law enforcement,” said U.S. This case shows we can use criminal forfeiture to compensate fraud victims even when cryptocurrency is used in the fraud.”.

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Fintech News

MAY 22, 2024

” These scams are a widespread issue across the entire tech landscape, not limited to social media, cryptocurrency, finance, or dating apps and this requires a collective effort from all the industry players. This will enhance visibility and help develop best practices to combat rapidly evolving scams like “pig butchering.”

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The Paypers

OCTOBER 12, 2020

Cryptocurrencies pose an emerging challenge to law enforcement activities; the US Attorney General William Barr’s Department of Justice (DOJ) has mentioned in DOJ’s ‘Crypto Enforcement Framework’

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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

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PYMNTS

NOVEMBER 30, 2020

Pizza Hut will now accept cryptocurrency as a form of payment at its stores in Venezuela, Cointelegraph reported. 27 that it was partnering with the pizza chain to process cryptocurrencies, including Bitcoin, Litecoin, Binance Coin, Binance USD, Tether, Dash, Ether, Dai and XPT, Cryptobuyer’s native coin.

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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.

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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.

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PYMNTS

JUNE 19, 2019

The G7 wants to create a working group that will investigate how to make sure that there are proper controls against the threat of money laundering with cryptocurrencies as well. The world’s governments, specifically regulatory and law-enforcement authorities, are essential partners in this endeavor.”.

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PYMNTS

JUNE 19, 2019

The announcement of Facebook’s Libra has buoyed other cryptocurrencies, especially Bitcoin, which gained in the neighborhood of 12 percent this week, to $9,477. The G7 wants to create a working group that will investigate how to make sure that there are proper controls against the threat of money laundering with cryptocurrencies as well.

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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?

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Fintech Finance

JUNE 20, 2024

The center will offer comprehensive training for law enforcement and industry professionals to combat modern financial crimes effectively. It will focus on several key areas: Advanced Fraud Detection and Prevention: Developing and implementing cutting-edge technologies to detect and prevent financial fraud.

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Fintech News

FEBRUARY 21, 2024

In the ever-evolving cryptocurrency market landscape, 2023 marked a pivotal year that saw significant shifts in the nature and scope of illicit activities. These tools have enabled law enforcement agencies to trace the flow of funds, unmasking the networks behind criminal operations. billion) threshold for the first time.

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PYMNTS

SEPTEMBER 10, 2019

The Paris-based Financial Action Task Force (FATF), an organization which acts as the standard-setter for anti-money laundering (AML) standards around the globe, said it is closely watching the development of Facebook ’s planned cryptocurrency, Libra , according to a report by Reuters. Liu warned that illegal use of cryptocurrency is growing.

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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. The post Binance Partners With Macau Police to Warn Locals About Risk of Scams During Transactions appeared first on The Fintech Times.

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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

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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. A new document shows that the U.S.

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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.

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PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Certainly, the use and availability of cryptocurrencies is another emerging area that is contending with its own unique set of compliance issues, but it is also one Wingert said appears to be closing gaps in regulation.

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PYMNTS

JANUARY 17, 2021

Cardano is a decentralized cryptocurrency network working to build an African customer base, and Hoskinson thinks the form lacks a significant customer base. He said they’re often used for criminal activity, as well, and said cryptocurrency mining is “harmful to the environment,” the report says.

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The Fintech Times

AUGUST 31, 2024

Saying that, there are clear cases involving asset freezes and law enforcement intervention that show how victims can still be made whole,” added Jardine. On one level, this sort of tactical shift both makes scammers harder to track and makes victim restitution somewhat more challenging.

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The Paypers

AUGUST 14, 2020

Federal law enforcement officials have conducted a seizure which is said to be one of the largest seizure of cryptocurrency connected to terrorism.

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Fintech News

FEBRUARY 10, 2025

The world witnessed an alarming escalation in cryptocurrency -related crimes in 2024. Source: TRM Lab’s 2025 Crypto Crime Report Terrorist Financing and Sanctions Evasion Saw The Rise of Digital Laundering One of the most alarming trends identified in the 2024 report is the expansion of cryptocurrency use in terrorist financing.

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The Paypers

JUNE 14, 2019

(The Paypers) Over 300 cryptocurrency experts from both law enforcement and the private sector have attended the sixth Cryptocurrency Conference hosted at Europol ’s headquarters from 12 to 14 June 2019.

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PYMNTS

JULY 15, 2020

In other news, cryptocurrencies have no way to abide by proposed new rules in numerous U.S. The LAED Act would end encrypted communications, giving law enforcement a backdoor to access the data with a court order. He said per the report that a win in the case would let other recipients of the letter do the same thing.

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PYMNTS

SEPTEMBER 8, 2020

European crypto exchange Eterbase has announced a hack, affecting hot wallets for six of its listed cryptocurrencies and allowing hackers to make off with $1.6 billion in assorted cryptocurrencies, CoinDesk reported. The exchange contacted law enforcement, and trading has been suspended until Sept. reported.

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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.

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PYMNTS

SEPTEMBER 8, 2020

European crypto exchange Eterbase has announced a hack, affecting hot wallets for six of its listed cryptocurrencies and allowing hackers to make off with $1.6 billion in assorted cryptocurrencies, CoinDesk reported. The exchange contacted law enforcement, and trading has been suspended until Sept. reported.

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PYMNTS

MARCH 7, 2019

As the crypto market expands, Canadian policymakers and law enforcement officials need to leverage external parties who specialize in blockchain forensic analysis if they intend to build resistance to illicit activity,” said Dina Mainville, CipherTrace sales director for Canada, in a press release. “As

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PYMNTS

SEPTEMBER 2, 2019

Venture capital firm Andreessen Horowitz is attempting to fight back against Washington’s tougher stance on cryptocurrencies. And as Bart Stephens, co-founder and managing partner of Blockchain Capital, a venture capital investor focused on cryptocurrencies, noted, “The U.S. regulatory environment has gone from uncertain to hostile.”.

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PYMNTS

JANUARY 13, 2020

European firms handling cryptocurrency will soon face a strict regulatory regime. The regime gives greater power and reach to financial intelligence units and law enforcement. The Fifth Anti-Money Laundering Directive or AMLD5 is set.

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