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. Singapore’s approach to cryptocurrency regulation in 2023 exemplifies the proactive and stringent measures adopted globally to curb crypto crimes.

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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. In addition, ransomware attacks and associated demands for payment, which are almost exclusively denominated in CVC, are increasing in severity.".

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Fintech News

APRIL 1, 2024

In Q4 2023, the payment and cryptocurrency sectors were the most targeted industries by identity fraud attempts, accounting for 47% and 32% of these attacks, respectively, a new report by Israeli identity verification company AU10TIX says. Ransomware payments using cryptocurrencies reached US$1.1

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Fintech News

FEBRUARY 10, 2025

The world witnessed an alarming escalation in cryptocurrency -related crimes in 2024. From high-profile ransomware attacks and terrorist financing to scams that wiped out millions in savings, global crypto crime has become an urgent concern. Asia has been both a target and a base for cybercriminals engaging in ransomware operations.

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PYMNTS

AUGUST 21, 2018

organizations fall victim to ransomware attacks every minute — and more than $1 million is lost each minute due to cybercrime. ” The report found that cybercrime costs businesses $600 billion each year, with ransomware specifically costing corporations $8 billion per year, or more than $15,000 per minute. . The data also showed.17

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PYMNTS

FEBRUARY 10, 2020

have plummeted in recent years, and ransomware cyberattacks have skyrocketed. Data Shows 41 Pct Hike In Ransomware Attacks In 2019. Ransomware cyberattacks are up 41 percent from last year, taking down computer networks across businesses, hospital and governments. In today’s top news, Chinese tech investments in the U.S.

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PYMNTS

JULY 28, 2017

With ransomware cyberattacks raging, companies and individuals have paid out more than $25 million during the course of the last two years in an effort to get their data back from hackers. The victims are usually forced to pay via cryptocurrency to get their data back and have a small timeframe to do so.

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PYMNTS

JANUARY 18, 2018

Treasury’s financial crime unit is picking up enforcement of cryptocurrency platforms that don’t have strong internal mechanisms in place to prevent money laundering, according to a report in Reuters. The cryptocurrency platforms in the U.S. government will also urge other countries to implement more regulation of cryptocurrencies.

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Money Laundering Treasury Cryptocurrency Financial Crimes 47

FICO

DECEMBER 23, 2020

Newly regulated areas such as digital assets and cryptocurrency businesses will likely undergo increased scrutiny (as companies transacting in digital assets are not exempt from AML requirements). There Will Be More Ransomware Attacks and Potential Sanctions Risk Implications.

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Financial Crimes Ransomware Crime AI 52

VISTA InfoSec

SEPTEMBER 25, 2024

We will continue seeing this happen in our lifetime, with a prominent example of this found in a relatively new mainstream advancement in fintech – cryptocurrency. By exploring quantum computing and cryptocurrency , we can see how an advancement in one sector can directly impact the security of another.

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PYMNTS

JANUARY 30, 2020

Zermatt, a ski resort town of 5,400 residents in Switzerland, has decreed that cryptocurrency bitcoin can now be utilized to pay taxes and other government services, Bloomberg reported. Everyone is talking about cryptocurrencies and blockchain, and if you don’t try it out, you don’t get smarter,” Biner-Hauser said.

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PYMNTS

JANUARY 23, 2020

Cryptocurrency went from dark-web danger to high-tech investment opportunity seemingly overnight, and, as more consumers seek to use digital currency, more businesses are stepping into the space. The adoption of cryptocurrency among small- and medium-sized businesses (SMBs) may be larger than one might think.

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Ransomware Cryptocurrency Small Business Risk 58

PYMNTS

JUNE 4, 2020

universities have been the victims of ransomware attacks in the past week, according to Cointelegraph. The information comes from a ransomware gang, boasting that they successfully attacked the University of California San Francisco on June 3, the most recent attack.

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PYMNTS

AUGUST 10, 2018

The Professional Golfers Association (PGA) of America has been hit with ransomware, with cybercriminals demanding a payment in bitcoin to a specific wallet address. The ransomware caused Atlanta’s courthouse documents, and services like payment processing, to become inaccessible.

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PYMNTS

JULY 16, 2019

Treasury Secretary Steven Mnuchin believes that Facebook’s proposed cryptocurrency could pose as a national security threat. Mnuchin added that the Treasury has informed Facebook, as well as other cryptocurrency users, that they need to implement the same anti-money-laundering and counter-terrorism safeguards as other financial institutions.

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PYMNTS

SEPTEMBER 14, 2020

The United States may have some of the world's best cryptographers working for the National Security Agency and other spy shops, but the Internal Revenue Service (IRS) is crowdsourcing at least part of its effort to beat the algorithms that cloak information about certain cryptocurrencies.

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PYMNTS

MARCH 26, 2020

Threat Analyst Brett Callow, who works at a different security firm called Emsisoft, said the incident in question came from Maze, a ransomware group. The group steals data, and its ransomware spreads through a network and infects every computer it comes into contact with. Zack did not say anything beyond that.

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PYMNTS

DECEMBER 1, 2020

Bitcoin’s price has been steadily rising in recent weeks, climbing above $19,000 last week , thanks to the pandemic-driven shift toward digital payments and cryptocurrency adoption by several mainstream companies, including Square and PayPal. The bank is working with J.P. Dos Santos, citizen of the U.S.

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PYMNTS

JANUARY 1, 2021

Indian FinTech Cashaa and the country's United Multistate Credit Cooperative Society teamed up to launch what they say is the world's first cryptocurrency bank branch through a joint-venture bank called Unicas, according to a release. The operation also will provide traditional banking services, according to the backers.

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The Paypers

JUNE 26, 2018

(The Paypers) Cryptojacking, a form of cyberattack in which hackers hijack the infected system’s processing power to mine cryptocurrency, is fast emerging as an alternative to ransomware.

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PYMNTS

FEBRUARY 28, 2020

To get a sense of the new frontiers in cybercrime, and how cryptocurrency helps fraudsters cover their tracks or finance their schemes … look, perhaps, to Latin America. Separately, in terms of fraud against companies, banking trojans, malware and ransomware have been coming from the Latin American region, the paper said.

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Fintech News

APRIL 24, 2024

Zhao who resigned from his position at the helm of the world’s largest cryptocurrency exchange last November, and Binance admitted to bypassing requirements stipulated by the Bank Secrecy Act. This plea was part of an agreement that included a hefty US$4.32 billion criminal penalty against Binance.

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PYMNTS

MARCH 7, 2019

Dave Jevans demonstrated that CipherTrace can bring transparency and accountability to illegal and fraudulent cryptocurrency transactions.”. PwC has found proof that Iranian nationals linked to the SamSam ransomware were using the WEX exchange to launder their funds. The auditing giant used data from the U.S.

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PYMNTS

AUGUST 8, 2018

Warnings from the Federal Bureau of Investigation have enterprises worried about cybersecurity — specifically, concerns about ransomware attacks. Phishing emails — 93 percent of which include ransomware, according to ITProPortal — should by no means be ignored. Compare that to ransomware, which made up just 11 percent.

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Ransomware Phishing Email Compromise Online and Mobile Banking 44

PYMNTS

FEBRUARY 20, 2019

“By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from peoples’ accounts, investigate ransomware attacks and identify bad actors. It will also help us bring more cryptocurrencies and features to more people, while helping ensure compliance with local laws and regulations.”

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PYMNTS

FEBRUARY 27, 2020

The cryptocurrency was trading at around $8,795 as of 11:43 a.m. Famed investor Warren Buffett added fuel to that fire when he said this week that cryptocurrencies “basically have no value.” That can include things like bitcoin-backed drug sales, up 60 percent on the dark web, and ransomware cyberattacks.

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PYMNTS

JULY 20, 2020

Mitsubishi UFJ Financial Group (MUFG), the biggest banking enterprise in Japan, is scheduled to release a cryptocurrency later this year, CoinDesk reported. At first, the cryptocurrency will be used in a mobile payment app for member firms that are on the website of Recruit, which has approximately 1 million member stores.

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Digital Currency Ransomware Cryptocurrency Bitcoin 52

CoinRemitter

MAY 20, 2024

This blog will look at some essential strategies to secure your cryptocurrency wallets against hacks, scams, or any attacks. Common cryptocurrency wallet attacks Phishing: Phishing is a common way scammers trick people in both cryptocurrency and traditional systems. This is alarming for businesses that accept crypto payments.

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Scams Cryptocurrency Security Phishing 40

Finovate

APRIL 3, 2024

On December 13, 2022, Samuel Bankman-Fried, founder and CEO of international cryptocurrency exchange FTX, was charged with two counts of wire fraud conspiracy, two counts of wire fraud, and one count of conspiracy to commit money laundering. Since then, cryptocurrencies in general and bitcoin in specific, have been on a tear.

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PYMNTS

AUGUST 18, 2020

Binance helped catch a purported cybercrime organization behind an alleged $42 million laundering effort, according to a statement from the cryptocurrency exchange.

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PYMNTS

FEBRUARY 27, 2020

Bitcoin has been friendly to crime in the past, becoming popular for perpetrators of ransomware and fraud. Eyal was asked to step down as head of the company and surrender $450,000 of Shopin-related cryptocurrency, along with paying $600,000 to investors.

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PYMNTS

MARCH 22, 2018

With the ransomware market becoming saturated and overpriced, hackers are setting their sights on so-called cryptojacking, which is giving them a new revenue stream. With cryptojacking, the cybercriminals are taking stolen processing power and cloud CPU usage from unwitting consumers and enterprises to mine for cryptocurrency.

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PYMNTS

OCTOBER 12, 2020

The G7 draft also considered what to do about the rise in ransomware attacks due to COVID-19 and the online shift in economic activity. The European Central Bank head Christine Lagarde said on Monday that the bank was “very seriously” looking into a digital euro.

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PYMNTS

MARCH 31, 2017

A number of security and fraud risk elements are still hanging a dark cloud over the progress cryptocurrencies have made in recent years. Though ransomware remains on the rise, Michael Corby, an executive consultant for CGI, is holding tight to the argument that ransomware demands should not be paid. Combating Bad Bitcoins.

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PYMNTS

JUNE 19, 2017

Coinbase, an exchange for buying and selling cryptocurrency, caught wind of Troia’s methods and inquired whether he had U.S. But the reality, according to cryptocurrency policy think tank Coin Center, is that more and more people have had to pay digital ransoms in recent years, from police departments to hospitals.

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Bitcoin Regulations Money Laundering FBI 75

PYMNTS

JULY 7, 2017

The attack saw a ransom of $300 in cryptocurrency demanded from corporates to unlock their computers. Similarly, Android recently came under attack again with the CopyCat ransomware sneaking into people’s devices.

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PYMNTS

FEBRUARY 23, 2019

The last few months have been tough for bitcoin enthusiasts, who have watched the cryptocurrency bleed value for over a year at this point. But considering that its price at this time last year was just shy of $10,000, the bigger story surrounding the world’s best-known cryptocurrency has been one about loss. The reason?

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