PYMNTS

DECEMBER 12, 2019

The China Securities Regulatory Commission , China’s security watchdog, is setting up a technology regulation bureau and will announce Yao Qian as its new department chief, the Chinese business publication Caijing said on Wednesday (Dec. 11), as reported by Coindesk. Yao was the head of China’s central bank digital currency initiative. .

Bitcoin 131

Bitcoin Fraud Regulation social media 131

Chris Skinner

JANUARY 30, 2017

Things we’re reading today include … Former HBOS manager found guilty of corruption and fraud Former top City regulator joins Standard Chartered JPMorgan in push to mine customer data Bank of England pumps £5bn into firms and £20bn into banks to keep interest rates down UniCredit capital warning spooks investors MasterCard wins ruling (..)

Fraud 150

Fraud Capital Regulation Data 150

PYMNTS

JULY 31, 2020

Regulators in China are preparing to move against once-hot Luckin Coffee Inc. In May, the Journal reported extensively on problems at Luckin , which was founded in 2017 and had been growing at a scalding pace. which admitted booking millions of dollars in nonexistent sales, The Wall Street Journal reported on Friday (July 31).

Regulation 151

Regulation Fraud Report Security 151

Chris Skinner

JANUARY 11, 2017

global economic … The post Things worth reading: 11th January 2017 appeared first on Chris Skinner's blog.

Fraud 150

Fraud Regulation Report 150

Chris Skinner

MAY 11, 2017

The post Things worth reading: 11th May 2017 appeared first on Chris Skinner's blog.

Fraud 171

Fraud Regulation Fintech US 171

Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. The under-reported and growing crime.

Fraud 284

Fraud Study United States Training 284

PYMNTS

OCTOBER 8, 2018

According to The Wall Street Journal , the federal derivatives-market regulator also handed out around $900 million in penalties, higher than the amount in five of the eight years of the Obama administration. percent in 2017 to about $3.8 Total fines ordered through SEC enforcement activity fell 7.2

Regulation 159

Regulation cryptocurrency Minneapolis Fraud 159

PYMNTS

JULY 15, 2020

The European Securities and Markets Authority (ESMA), the European Union’s (EU) financial watchdog, plans to examine how German regulators handled oversight of Wirecard AG , the collapsed payments company that is facing a series of criminal allegations. ESMA said they will conclude the inquiry by the end of October.

Regulation 141

Regulation Guidelines Groups Report 141

PYMNTS

MARCH 2, 2020

in 2017 on healthcare services. Instead, she noted, an estimated $240 billion is going out the door to fraud, waste and abuse (FWA). From those manual reviews, these highly experienced investigators create rules, monitor suspicious activity and collaborate with law enforcement to mitigate fraud in the system, she continued.

Fraud 216

Fraud System Security Leadership 216

PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. According to a 2017 report from the FBI’s Internet Crime Complaint Center (IC3), there have been $1.4

Fraud 108

Fraud Knowledge Base Regulation Data 108

PYMNTS

DECEMBER 11, 2019

regulators have been keeping a close eye on the HBOS fraud case , which involved a reported conspiracy among HBOS bankers in various markets working with external consultants to load SMB clients with debt. A 2017 trial related to the case led to six people being sentenced to jail for their participation in the fraud.

Fraud 100

Fraud Regulation Report Groups 100

PYMNTS

JUNE 29, 2020

Numerous regulators had discussions over the years about tightening supervision on Wirecard or adding it to a list of potential subjects for more investigations, but all decided against it, Reuters reports. Putting it under the umbrella of financial firms would have put the whole company under bank regulation.

Regulation 144

Regulation Report Capital Company 144

PYMNTS

APRIL 9, 2019

The letter also calls on the Financial Conduct Authority (FCA) to investigate Lloyds Chief Executive Antonio Horta-Osorio, claiming he knew about the ongoing fraud as far back as 2011, but failed to initiate an investigation. Reports in City A.M. The scam has already led to the imprisonment of several former executives.

Fraud 122

Fraud Groups Report Regulation 122

PYMNTS

OCTOBER 19, 2018

Those fraudsters can learn new techniques and keep a step ahead of companies, regulators, law enforcement and governments. At the least, it won’t get any better — not according to any anti-fraud expert who is worth their rate. million fraud crimes in 2017, Trilli said, and $22.1 billion worth of fraud losses.

Fraud 189

Fraud Online social media Software 189

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

Fraud 110

Fraud Security Retail Tools 110

PYMNTS

JULY 2, 2018

Despite a regulation crackdown and other issues, investors have continued to fund cryptocurrency startups in 2018, with ICOs raising $11.8 This year’s surge comes as ICOs have faced stricter scrutiny from regulators like the U.S. This year’s surge comes as ICOs have faced stricter scrutiny from regulators like the U.S.

Regulation 101

Regulation cryptocurrency Fraud Analysis 101

PYMNTS

JUNE 26, 2018

on Tuesday (June 26) announced it is proposing changes to complaint handling rules to help victims of authorized push payment (APP) fraud. there were 43,875 cases of authorized push payment fraud, amounting to total losses of £236 million in 2017. The Financial Conduct Authority (FCA) of the U.K.

Fraud 108

Fraud Handbook Payments Regulation 108

PYMNTS

JANUARY 31, 2019

NACHA recently released new figures on ACH network volume, revealing earlier this week that Same-Day ACH volume grew 46 percent between Q4 2017 and Q4 2018, surpassing 50 million transactions for the first time. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S.

Fraud 182

Fraud Payments Compliance Regulation 182

Perficient

AUGUST 16, 2023

In 2017, the bank was converted from its National Charter to a Kansas state-chartered bank and renamed Heartland Tri-State Bank. Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

MAY 15, 2018

The Central Bureau of Investigation (CBI), India’s main investigative agency in the country, has filed charges in the Punjab National Bank fraud case against Nirav Modi, the jewelry retail owner, and his uncle Mehul Choksi, as well as senior executives at the state-run lender.

Fraud 100

Fraud National Maine System 100

PYMNTS

JUNE 7, 2019

Allied Wallet , an online payment provider and a client of Wirecard, settled with the Federal Trade Commission (FTC) last month over charges that it helped facilitate fraud and launder money, according to a report by the Financial Times. Banc de Binary, which was closed in 2017 by U.S.

Fraud 108

Fraud Regulation Report Company 108

PYMNTS

JULY 15, 2019

The rapid growth of cryptocurrency has come with closer scrutiny and a call for tighter anti-money-laundering (AML), know-your-customer (KYC) regulations. This push for regulations hasn’t come without controversy. Some think they go too far. False positives can bounce legit customers in the 0.8

cryptocurrency 129

cryptocurrency Regulation Guidelines User Experience 129

PYMNTS

MAY 16, 2018

As GDPR takes effect late in the month, firms must be compliant with new rules and regulations. Also noted by the site, Ernst & Young’s Global Fraud Survey has set its sights on compliance efforts. Local news stories show that fraud – across payroll schemes and otherwise – remains alive and well across the globe.

Fraud 100

Fraud Compliance Cleveland Ohio 100

PYMNTS

JULY 27, 2018

watchdog in charge of investor oversight proposed tough new regulations regarding peer-to-peer (P2P) lending platforms, in a bid to help consumers wade through the new landscape, according to a report by Reuters. has also sought clarity on regulations as a means to better compete against established banks.

Lending 102

Lending Regulation Fintech Study 102

Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. In 2017, over 5.51

El Paso 195

El Paso Miami United States New York City 195

PYMNTS

JUNE 24, 2020

Within days, Braun, 50, was arrested on charges of accounting fraud and market manipulation. Following Braun’s arrest, German Finance Minister Olaf Scholz said lawmakers must tighten regulations because the payment services company has pointed to monitoring gaps by the nation’s financial watchdog. billion euros ($2.1

Fraud 262

Fraud Groups Report Security 262

PYMNTS

NOVEMBER 9, 2017

Payments System Regulator (PSR) is taking steps to address the 100 payment scams hitting consumers and businesses every day. Now, the Payments System Regulator said it is working to establish a compensation scheme to more easily enable scam victims to receive compensation. more than a year ago.

Fraud 100

Fraud Payments Regulation System 100

NCR

DECEMBER 27, 2017

As December draws to a close, it’s time to look back on the biggest headlines and defining themes of 2017 for the financial services industry. The humble ATM celebrated its 50 th birthday in June 2017. For many financial institutions (FIs), preparing for the EU’s PSD2 regulation has been priority number one in 2017.

ATM 76

ATM Fraud Industry Security 76

PYMNTS

DECEMBER 30, 2020

The deal resolves the five criminal counts including wire fraud, conspiracy and computer intrusion. In a related charge, Zeeshan Zaidi, the former head of Ticketmaster’s Artist Services division, pleaded guilty last year before Judge Brodie, to conspiring to commit computer intrusions and wire fraud.

Los Angeles 223

Los Angeles Fraud New York California 223

PYMNTS

DECEMBER 8, 2017

It’s called return fraud, and unlike the cyber fraud that has become so rampant in the changing retail environment, it requires no technical savvy, other than the knowledge of how the system works and what a person can get away with at major retailers.

Fraud 105

Fraud Cards Tennessee Retail 105

PYMNTS

AUGUST 12, 2019

A new report has estimated that losses related to cryptocurrency thefts, scams and fraud could reach $4.3 On top of these numbers, the New York Attorney General’s Office revealed what they allege is a fraud involving the loss of $851 million by a major cryptocurrency exchange, Bitfinex. billion this year. trillion, 11.5

Report 153

Report cryptocurrency Fraud Bitcoin 153

PYMNTS

SEPTEMBER 7, 2020

Bigatton, who is based in New South Wales, performed in his job for BitConnect between August 2017 and January 2018, when he also served as the representative for the investment scheme BitConnect Lending Platform. Personal information is private as well.

Bitcoin 132

Bitcoin Fraud Payments cryptocurrency 132

PYMNTS

JUNE 30, 2020

A summary of Wirecard ’s customers in 2017 suggests that just 100 clients represented over 50 percent of its real sales, the Financial Times reported, citing an internal spreadsheet. The firm reportedly said it worked with 170,000 small companies and 33,000 large and medium-sized merchants in 2017.

Regulation 222

Regulation Report Operations Payments 222

Celent Banking

FEBRUARY 28, 2017

The Products entries for 2017 fall broadly into four sub-categories: Payments Product — for launching the best consumer or business payments product. Capabilities include accelerated check clearing, enhanced mobile wallets, simplified fraud controls, and streamlined charitable donations.

Innovation 100

Innovation Lending Boston Trends 100

Celent Banking

FEBRUARY 28, 2017

The Products entries for 2017 fall broadly into four sub-categories: Payments Product — for launching the best consumer or business payments product. Capabilities include accelerated check clearing, enhanced mobile wallets, simplified fraud controls, and streamlined charitable donations.

Innovation 100

Innovation Lending Boston Trends 100

PYMNTS

SEPTEMBER 2, 2020

million of funds from a “wire fraud scheme” involving a so-called digital currency called OneCoin from 2015 to 2018, according to the letter. Scott created and ran different investment funds called the “Fenero Funds” that the letter said he used for “laundering OneCoin fraud proceeds.”. However, the company said it turned down $14.34

Bitcoin 150

Bitcoin US Fraud blockchain 150

FICO

JULY 27, 2020

By now, you probably don’t give a second thought to unlocking your smartphone with biometrics such as a fingerprint or facial scan — even though the latter wowed the world when it debuted in 2017. To better protect these transactions from fraud, new biometric measures can now authenticate that it’s really you who’s using your phone.

Fraud 52

Fraud Compliance Security Analysis 52