PYMNTS

OCTOBER 8, 2019

Plaintiffs say that the actions of iFinex was “part fraud, part pump-and-dump and part money-laundering.”. In other news, $10 billion worth of bitcoin — or almost 7 percent — is currently held in the wallets of eight major cryptocurrency exchanges. Coin Telegraph reported that Token Analyst found that almost 1.2 Robertson controlled.”.

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PYMNTS

AUGUST 3, 2016

Bitcoin appeals to many different people, including the nefarious ones that like the anonymity associated with digital currency. LexisNexis reportedly said it is partnering with Elliptic to create the new service that brings bank-grade control to transactions made in bitcoin. It will alert clients, including bitcoin exchanges and U.S.

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PYMNTS

DECEMBER 2, 2019

In recent announcements, the numbers have been supporting the argument that cryptos are becoming a favored avenue of theft and fraud. Consider the fact that, as estimated by CipherTrace’s third-quarter report for 2019, the total volume of fraud tied to crypto shows losses in the range of $4.4 billion in fraud and theft seen last year.

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PYMNTS

DECEMBER 24, 2020

Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Here are some of cryptos’ key developments for 2020: Bitcoin Goes Higher And Higher. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. Bitcoin is like a [crypto] 101 version.

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PYMNTS

DECEMBER 8, 2017

A cryptocurrency mining market in Slovenia, which lost millions in bitcoin in a Wednesday (Dec. The firm reported it had stopped its mining operations for approximately 24 hours as of Thursday (Dec. 7), halting its work as it tried to piece together just how it was hacked and how much bitcoin went missing.

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Bank Innovation

OCTOBER 3, 2017

This hypothetical licensing program could put into place a nation-wide, unified regulatory framework for cryptocurrency exchange platforms. Last week, Japan’s […].

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PYMNTS

MAY 2, 2018

After hackers stole data from the computer system of a Massachusetts school system, they offered to return the information in return for a $10,000 bitcoin payment. As a result, the district paid the $10,000 in bitcoin. s National Health Service. s National Health Service. Why did that become a trend?

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PYMNTS

JULY 1, 2019

The post reportedly directed victims to a fake story about Sheikh Mohammed bin Zayed, the crown prince of Abu Dhabi and deputy supreme commander of the armed forces, claiming that he wants to make people rich via a fake bitcoin trading platform.

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PYMNTS

APRIL 26, 2019

Hackers are still using classified exploits built by the National Security Agency two years after they were stolen, this time to mine for cryptocurrency. Nexon has stakes in both Korbit, South Korea’s older exchange, and Bitstamp, the European cryptocurrency exchange operators. billion.

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PYMNTS

APRIL 10, 2017

Wells Fargo found yet more fraud problems in its organization; Amazon announced some hi-tech staffing expansions and bitcoin finally found a government with the will to recognize it as a currency. Japan Gives Bitcoin a Big Thumbs Up. at the hands of the SEC, bitcoin world was looking for some good news. Yes, we checked.

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PYMNTS

SEPTEMBER 11, 2019

Fraud Trends. According to an earlier analysis of this particular fraud trend, Ronnie Tokazowski , senior threat researcher at Agari , said, “For trends that we’re seeing, actors have been asking for gift cards instead of wire fraud, but still engage with wire fraud as well. Fraud Crackdown. billion in 2018.

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PYMNTS

JUNE 30, 2020

The operation was conducted against two distinct groups of criminals. The move comes as the institutions aims to defend against efforts to avoid hyperinflation in the nation. million profit in crypto, Coindesk reported.

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PYMNTS

JULY 16, 2020

High transaction success rates can indicate an efficient payments operation, but keeping them high is no easy feat. Algorithmic tools designed before March are having trouble predicting consumers’ behavior during the pandemic, and some firms are upgrading their fraud screening systems so they are better able to predict consumer behavior.

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PYMNTS

OCTOBER 1, 2020

With the opportunities and advantages of operating a financial institution in the United States comes the obligation for those businesses to do their part to help in driving out crime and corruption,” Acting Manhattan U.S. As it stands, Braintrust is a completely distributed network and is in 15 nations throughout the globe.

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PYMNTS

OCTOBER 18, 2019

Thus, for criminals, at times bitcoin and other cryptos are a conduit to money laundering, ransomware and, at times, just trying to hide in plain sight. In news at the end of this week, the largest child pornography site in the world has been shuttered — and had operated across the Dark Web, funded by bitcoin.

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PYMNTS

DECEMBER 4, 2020

PayPal’s Bitcoin Backing Proves Crypto Is Ready For Prime Time (And Grandma). Regulatory hurdles still exist, but when PayPal announced that its 350 million users can transact with bitcoin and other cryptocurrencies, the game changed. A PYMNTS survey of a national sample of 2,147 U.S. Top Trackers And Reports.

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PYMNTS

DECEMBER 2, 2019

In recent announcements, the numbers have been supporting the argument that cryptos are becoming a favored avenue of theft and fraud. Consider the fact that, as estimated by CipherTrace’s third-quarter report for 2019, the total volume of fraud tied to crypto shows losses in the range of $4.4 billion in fraud and theft seen last year.

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PYMNTS

MARCH 11, 2016

As infamous bitcoin criminals like Ross Ulbricht have learned, it’s not impossible to get caught. And, as law enforcement has learned, the dark side of bitcoin has its perks. And then, there was Mark Karpelès, the former bitcoin tycoon, who is in police custody in Japan under charges of fraud andembezzlement for his Mt.

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PYMNTS

MARCH 23, 2018

Redfearn is head of the SEC’s trading and markets operations. The scramble for a framework overseeing the 1,500 digital currencies changing hands comes as the SEC is concerned about fraud, hacking, money laundering and even terrorist financing, said Redfearn at a New York FinTech conference. That is a very big concern for us.”.

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PYMNTS

JULY 27, 2017

Alexander Vinnik, the 38-year-old Russian man who is accused of being behind the BTC-e virtual currency exchange and bitcoin laundering $4 billion or more, has reportedly been arrested in Greece. Their respective operators have also been arrested.

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Abrigo

NOVEMBER 11, 2021

The June 2021 release of the Financial Crimes Enforcement Network ( FinCEN) Priorities makes this clear in naming cybercrime as one of the eight national anti-money laundering and countering the financing of terrorism (AML/CTF) priorities. Cyber-attacks, and ransomware specifically, are the most significant threats to U.S.

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Abrigo

NOVEMBER 11, 2021

The June 2021 release of the Financial Crimes Enforcement Network ( FinCEN) Priorities makes this clear in naming cybercrime as one of the eight national anti-money laundering and countering the financing of terrorism (AML/CTF) priorities. Cyber-attacks, and ransomware specifically, are the most significant threats to U.S.

Fraud 195

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PYMNTS

MAY 15, 2017

As has been widely reported, a massive attack hit everything from the United Kingdom’s National Health Service, European automakers and Chinese firms and any number of companies across other verticals, winnowing its way through disparate countries into Saturday. Action Fraud, the U.K.’s Hospitals shut down in Europe.

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PYMNTS

AUGUST 21, 2017

The banking industry is familiar with fraud schemes, and its solution of implementing security technologies in apps has significantly reduced the risk of theft of critical financial data,” Chebyshev said. Bitcoin Surges — And Faces Another Split. It has been a busy week for blockchain, particularly in the Bitcoin neighborhood.

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PYMNTS

JUNE 4, 2018

The combination of leaked National Security Agency (NSA) tools, plus state-sponsored capabilities, triggered a systemic event,” Mark Camillo, head of cyber for EMEA at AIG, said in a statement. researcher hadn’t quickly found and activated the kill switch.”. If users didn’t pay within that time frame, the ransom would double.

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PYMNTS

AUGUST 29, 2016

26) they seized around €1 million earlier in 2016 in connection with a operation that was being run on an online dark market. In a report by CoinDesk , a representative of Finland’s customs office said the online drug site was named Valhalla, which has been in operation since Oct. Finland customs agents announced on Friday (Aug.

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Abrigo

AUGUST 26, 2019

In response to the nation-wide opioid crisis that has led to unprecedented addiction and death, FinCEN has issued guidance to alert financial institutions to the financial schemes and typologies related to the trafficking of fentanyl and other synthetic opioids. Fraud Prevention. Contact us today. . Learn More. Learn More. Learn More.

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Abrigo

MAY 12, 2022

Protect your financial institution from cybercrime With cybercrime constantly evolving, what can businesses and financial institutions do to prevent fraud? Cybercrime is a threat to businesses and institutions of all sizes and is at the forefront of the minds of those in the fraud prevention field. These measures can help.

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PYMNTS

MAY 16, 2016

fleet managers consider fuel card fraud a major issue , found oil giant Shell in its first Fraud Matters report on the fleet card industry. SMEs want banks to offer bitcoin services , suggesting the cryptocurrency may not be such a failure after all. Those services include bitcoin and peer-to-peer lending, analysts said.

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PYMNTS

FEBRUARY 21, 2018

Governments may not be too keen on bitcoin, but blockchain is another story. Perhaps it isn’t surprising that analysts are now musing about how to avoid a repeat of the Punjab National Bank fraud scandal, and some are looking towards blockchain to do so. United States.

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PYMNTS

MAY 19, 2017

Targeting computers running the Microsoft Windows operating system, the malware encrypted users’ files and demanded payment in bitcoin equivalent to about $300 within 72 hours to regain access. If users didn’t pay within that time frame, the ransom would double. After a week, files were locked for good.

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PYMNTS

MAY 23, 2017

That said — Symantec also notes that the spread, coding flaws and demands for bitcoin ransoms may be indications that this hack was not carried out at the behest of North Korean government officials and was more an independent fundraising operation.

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Gonzobanker

DECEMBER 14, 2023

Honorable Mentions – while this was a quiet year for M&A, we tip our hat to Atlantic Union’s acquisition of American National Bank and Eastern Bank’s acquisition of Cambridge Bank. The Comeback Investment of the Year Award – Bitcoin (BTC). Expect more deals to be announced in 2024. and Summit Financial Group, Inc.

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PYMNTS

OCTOBER 14, 2016

PYMNTS recently spoke with Chip Hull, vice president of FedEx Cross Border , the eCommerce technology subsidiary of FedEx that has access to more than 220 countries and territories, about the logistical challenges involved with planning and operating during the busy holiday shopping season.

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PYMNTS

MAY 22, 2017

The ransomware attack affected a range of players, including delivery services like FedEx, automakers including Renault and Nissan, transportation operations such as Germany’s Deutsche Bahn and even medical systems such as the U.K.’s s National Health Service. He pointed to his previous experience working for the U.S.

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NCR

AUGUST 18, 2017

It started out as the rails for cryptocurrencies like Bitcoin, but has evolved as a technology that can transform many legacy business paradigms in the banking sector. Today these activities are both time-consuming and costly, with Thomson Reuters estimating the average national bank spends around $60 million on these activities every year.

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CB Insights

AUGUST 25, 2017

Bitcoin and other virtual currencies are made possible by what’s known as blockchain technology. Bitcoin’s popularity is proving blockchain’s usefulness in finance, but entrepreneurs have come to believe blockchain could transform many more industries. Blockchain & Bitcoin Research Briefing.

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