PYMNTS

AUGUST 2, 2019

Data storage firm Seagate revealed that it has moved its anti-fraud blockchain project with IBM into the pilot stage. In other news, Brazil’s Tax Authority has announced that transactions involving cryptocurrencies must now be reported to the Department of Federal Revenue ( RFB ).

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blockchain Fraud Data Report 148

PYMNTS

OCTOBER 4, 2019

Visa Powers Revolut’s Global Expansion Into 24 New Markets. Chase On Using Machine Learning To Crack Fraud’s Goldilocks Conundrum. The global threat of fraud shows no signs of slowing down. Losses related to fraud are valued at $14.7 billion, according to the most recent DataVisor Fraud Index Report. Top Stories.

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Jeff For Banks

NOVEMBER 28, 2023

Decentralized finance (DeFi) : DeFi technologies, such as blockchain and cryptocurrencies, will disrupt traditional banking models and create new opportunities for financial inclusion. Data-driven decision-making : Banks will use data analytics to make better decisions about product development, marketing, and risk management.

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United States Analytics Risk Management Google 95

PYMNTS

JANUARY 1, 2021

Starting with some of the most recent changes — and a sign of what’s to come — earlier in the month, the European Commission offered up its initial draft of the Digital Services Act and the Digital Markets Act. The watchdog would be known as the Digital Markets Unit. In the nascent and burgeoning cryptocurrency space, the U.S.

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PYMNTS

SEPTEMBER 30, 2020

In today’s top news in digital-first banking, global card issuing platform Marqeta debuted its Tokenization-as-a-Service (TaaS) offering, while the Bank of New York Mellon (BNY Mellon) has named a new executive for global market infrastructure. BNY Mellon Names Robin Vince To Lead Global Market Infrastructure.

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PYMNTS

APRIL 15, 2019

Not every innovation is a good innovation. The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200. The fraud is fairly easy to pull off because it bypasses many existing controls for capturing it.

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Abrigo

MARCH 11, 2022

Thanks to an increase in mobile payments precipitated by the pandemic and rising security concerns due to the Russian conflict in Ukraine, the world of financial fraud prevention is more dynamic than ever. Cryptocurrency In general, NBFIs have a higher risk tolerance for cryptocurrency than traditional financial institutions.

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Regulation cryptocurrency Policies Management 195

PYMNTS

OCTOBER 7, 2019

Securities and Exchange Commission (SEC) is seeking to “modernize” the regulation of exchange-traded funds (ETFs) in a bid to make those investment vehicles more innovative, and give them quicker entrance to the market. Might that pave the way for the emergence of cryptocurrency ETFs?

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cryptocurrency Bitcoin Regulation Retail 134

PYMNTS

JUNE 24, 2019

The think pieces have come in waves, as have the reactions from analysts, cryptocurrency enthusiasts and regulators — and the world waits to see exactly what Facebook and its cadre of payments and commerce players design. The technology will then be put into place, tested and (hopefully) start deploying into market next year.

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Payments cryptocurrency social media Regulation 179

PYMNTS

AUGUST 26, 2019

From a ride-hailing company expanding into Vietnam to Visa implementing new tools to fight fraud, today’s payments news runs the gamut. House Financial Services Committee Chair Maxine Waters met with Swiss government officials about the viability of Facebook’s proposed cryptocurrency Libra.

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PYMNTS

OCTOBER 8, 2019

Plaintiffs say that the actions of iFinex was “part fraud, part pump-and-dump and part money-laundering.”. Together, Bitfinex and Tether manipulated a market that, by design, is supposed to be decentralized,” states the lawsuit. The filing comes days after the company revealed that it was expecting a lawsuit to be filed against it.

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PYMNTS

JANUARY 9, 2018

In an interview with TheStreet.com, PayPal chief executive officer Dan Schulman said that while PayPal is focused on innovating in the payment market, it’s not focused specifically on the digital currency. “I PayPal has a lot of room to innovate with blockchain technology. “I

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Bitcoin cryptocurrency blockchain Innovation 131

PYMNTS

MARCH 14, 2019

For corporate treasurers, Manish Kohli, global head of payments and receivables at Citi , told PYMNTS’ Karen Webster, three concerns tend to top the list: geopolitical uncertainty, cyber threats and disruption resulting from the emergence of new business models in an interconnected global market. Treasurers’ Biggest Worries.

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Payments Innovation National Fraud 193

PYMNTS

SEPTEMBER 17, 2020

Two individuals from Russia who were recently sanctioned by the Treasury Department purportedly put into place copycat websites for cryptocurrency exchanges that that tricked people into providing login information, CoinDesk reported. But they have grown in popularity in markets that are not stable.

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PYMNTS

JANUARY 28, 2020

When it comes to payment rail innovation, transaction speed is often the catalyst driving change. Outside of the mainstream financial services market, blockchain continues to introduce some intriguing opportunities and challenges in the B2B payments arena. SMBs Embracing the Blockchain Rail.

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Payments blockchain cryptocurrency Innovation 199

CFPB Monitor

JULY 27, 2020

cryptocurrency custody services on behalf of customers, including by holding the unique cryptographic keys associated with cryptocurrency.” It makes the “suggestion” to confer first with the OCC before onboarding any cryptocurrency clients. The key phrase above is “any lawful business.” The letter states that the OCC.

National 113

National cryptocurrency Risk Management Regulation 113

PYMNTS

SEPTEMBER 11, 2019

Pump and dump is a type of fraud that manipulates the price of an asset through a rush of high-volume purchases by fraudsters. Meanwhile, cryptocurrency payment processor BitPay has been accused of blocking donations to Hong Kong for several weeks. The surge artificially inflates demand, and then the actors dump their tokens.

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PYMNTS

SEPTEMBER 7, 2017

There’s interaction with marketing and customer service teams, an eagle eye on data fraud — oh, and no small amount of effort devoted to innovation. MN: My daily activities are split between current, in-market products and new emerging solutions. PYMNTS: How would you define your company’s approach to innovation?

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Analytics Fraud Innovation Industry 116

PYMNTS

SEPTEMBER 29, 2017

Switzerland is the latest nation to take a harder look on this new crowdfunding method, which allows cryptocurrency entrepreneurs to raise millions by creating and selling digital “tokens.”. Bancor Protocol, a Zug-based foundation enabling the creation of other cryptocurrencies, raised over $150 million in June.

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cryptocurrency Bitcoin Regulation blockchain 124

PYMNTS

JUNE 29, 2016

Russell Moore, Director of Innovation at TSYS , agrees that it’s been misused in a myriad of ways, but feels that bitcoin and other cryptocurrencies offer merchants the chance to view payment processing in a new way. He gives PYMNTS a different take on the use of cryptocurrencies in payments.

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Bitcoin cryptocurrency blockchain Innovation 123

PYMNTS

JUNE 20, 2019

In April after Vitalik Buterin called Wright “a fraud,” his lawyers sent a legal notice, dated April 12, stating that Wright intends to sue Buterin in the U.K. In other news, Mozilla has sent out a warning that hackers are using a “zero-day” exploit in its Firefox browser, with cryptocurrency owners at the highest risk. for defamation.

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Bitcoin blockchain cryptocurrency Innovation 109

PYMNTS

AUGUST 23, 2018

The SEC said the proposals for the funds did not do enough to show how exchanges that want to list the products can prevent fraud and manipulative acts. The SEC said then that the fund didn’t prove it could withstand market manipulation, noted the report. It said it disapproved because “the exchange has not met its burden.”.

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Bitcoin cryptocurrency California blockchain 102

CFPB Monitor

JULY 14, 2022

On July 8, with limited fanfare, the Department of Treasury issued a request for public comment regarding the March 9, 2022 Executive Order entitled “Ensuring Responsible Innovation in Digital Assets” (the “Order”). leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation.”

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United States Leadership Policies Regulation 78

PYMNTS

NOVEMBER 15, 2019

Users of Facebook Pay , which the company said is not related to its proposed cryptocurrency Libra, will be able to enter a preferred payment method and then use the option to eventually pay throughout all of the related apps. Amazon To Build $40M Robotics Innovation Hub Near Boston. Deutsche Bank told U.K. Money Laundering Epidemic.

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Google Payments Apple cryptocurrency 139

PYMNTS

JULY 24, 2019

New York’s Department of Financial Services (DFS) has launched a new Research and Innovation Division that will be responsible for licensing and supervising virtual currencies. Lacewell said in a press release. Security researchers Noam Rotem and Ran Locar discovered the database and reported their findings to TechCrunch.

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Regulation Bitcoin New York Online 108

PYMNTS

DECEMBER 4, 2020

Regulatory hurdles still exist, but when PayPal announced that its 350 million users can transact with bitcoin and other cryptocurrencies, the game changed. New Data: Consumers Want Banks To Use Location Data To Keep Accounts, Transactions Fraud-Free. Facebook’s Libra is coming to market after a gestation period of more than a year.

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Cards Data Mobile Survey 151

PYMNTS

JANUARY 1, 2019

Bitcoin (and other cryptocurrencies) had started its major run; everyone was excited. Cryptocurrencies were going to change the world! At Entersekt, we started exploring a new market segment — the scores of rich cyber exchanges popping up all over the world. Are cryptocurrencies a bad idea? More bitcoin forks emerged.

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PYMNTS

JULY 1, 2019

Blockchain has potential to securely transmit remittance data along with payments in cross-border B2B transactions, enable companies to use smart contracts to enforce business agreements in B2B trade and mitigate the risk of fraud in supply chain transactions. Many still have hopes for blockchain, but it’s still very much a work in progress.

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blockchain Payments Retail Innovation 211

PYMNTS

AUGUST 15, 2018

The finding suggests a shift in the market, with corporates unsure or unconvinced of how faster payments capabilities might affect their operations. Regardless of which technological innovation will make the greatest change, TD Bank researchers noted that organizations are struggling to keep up. Corporates’ Other Needs.

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Payments San Diego Survey cryptocurrency 101

PYMNTS

JUNE 1, 2020

In a roundtable discussion, the last in the “Powering the Digital Shift” series with Karen Webster, six experts in money movement, fraud prevention, banking and financial technology discussed one sure bet: “Digital optional” is no option as we move toward contactless commerce. The recent payouts by the U.S.

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Payments Fraud Security Technology 172

Abrigo

FEBRUARY 25, 2022

Takeaway 3 Keep an eye on updates to changing markets, including cannabis and antiquit ies trading . Overall, banks, credit unions, and NBFIs should modernize their BSA/AML programs with appropriate risk-based innovative solutions to streamline those processes and use resources efficiently and effectively. What to Watch.

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Regulation Policies Compliance Washington 195

PYMNTS

JANUARY 20, 2017

ChronoBank.io, the cryptocurrency company that is trying to change the short-term labor market, is aiming to launch an exchange early next year where buyers and sellers of different trades can trade skills for money and time. The idea is to disrupt the recruitment market, which ChronoBank.io ChronoBank.io

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PYMNTS

JULY 17, 2019

We say defense because it was apparent from early in the hearing that the senators gathered were more than a little suspicious of Facebook’s latest innovation — and less than favorably inclined to letting it move forward. North Carolina Sen. But beyond all the comments and performance art, senators had a lot questions. He said the U.S.

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PYMNTS

APRIL 28, 2017

On Friday morning, Bitcoin’s market cap was up over $21.3 At the time, the SEC nixed listing the twin’s ETF on the Bats BZX Exchange due to lack of oversight, regulation and the potential for fraud in the broader bitcoin space. At the time of writing, bitcoin was valued at $1,313.03 — down for the day, but well up for the week.

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Bitcoin Regulation cryptocurrency Marketing 120

PYMNTS

OCTOBER 2, 2018

Wily sorts, who go with the flow of innovation and see the sea changes inherent in payments. Squeezed out of tried-and-true methods of card fraud (thanks in no small part to EMV), the fraudsters are eyeing how to interfere with the money that firms legitimately send in the course of normal, daily business life. A note of caution rings.

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PYMNTS

MARCH 17, 2017

Lack of oversight, regulation and the potential for fraud in the broader bitcoin space. The SEC noted that for them to approve an exchange that lists and trades shares of commodity-trust, exchange-traded products, the exchange must first have surveillance-sharing agreements with significant markets. The reason?

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Bitcoin Regulation cryptocurrency blockchain 123

Insights on Business

DECEMBER 19, 2018

In addition, the Federal Reserve and a host of other regulators have released guidance on not only how to address the opportunities of artificial intelligence in financial crime as well as risk management, but what is expected once they look to apply innovative technologies. Heightened supervision expands the aperture.

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Regulation Innovation Compliance Risk Management 111