PYMNTS

JUNE 24, 2019

Amid the announcement of a new cryptocurrency – that would be Libra – the Financial Action Task Force (FATF), which operates as global regulatory firm based in Paris with a membership roster of countries such as China and the United States, has said it will boost its examination of digital currencies with an eye on money laundering.

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Regulation social media cryptocurrency United States 129

Bank Innovation

DECEMBER 5, 2017

The Securities and Exchange Commission, or SEC, has filed charges of fraud against the organizers of a $15 million ICO, the agency announced yesterday. The regulator filed charges against Canadian organizers Dominic Lacroix and Sabrina Paradis-Royer, as well as a firm named PlexCorps, for violating U.S. securities laws.

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Fraud Regulation Security cryptocurrency 231

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

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Regulation cryptocurrency Policies Management 195

PYMNTS

OCTOBER 26, 2017

It’s been a big year for cryptocurrency. This thing is not regulated, it’s not under control.”. In September, JPMorgan Chase CEO Jamie Dimon called bitcoin a “ fraud.” Prices recovered thereafter, but some argue the split demonstrated a vulnerability inherent in currencies without a central regulating authority.

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cryptocurrency Bitcoin blockchain Regulation 101

PYMNTS

AUGUST 12, 2019

A new report has estimated that losses related to cryptocurrency thefts, scams and fraud could reach $4.3 Cryptocurrency security firm CipherTrace revealed that crypto criminals have already stolen more than $1.2 Ultimately, thieves and scam artists will need to launder the cryptocurrency stolen or scammed in Q1 2019.

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Report cryptocurrency Fraud Bitcoin 153

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

JANUARY 18, 2022

The CEO and CFO of the BitMEX cryptocurrency derivatives exchange announced today that they have reached an agreement to purchase a 268-year-old German bank in order to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.”. user ban.”. BitMEX Indictments.

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Regulation cryptocurrency Groups Innovation 169

PYMNTS

JULY 22, 2019

And there is no shortage of interest in the region in that ability, with particular interest coming from the financial services sector, the cryptocurrency markets and in the healthcare vertical. The Latin American market isn’t going to slow down — not from an innovation standpoint, and not from a regulatory standpoint.

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Innovation Payments Regional America 161

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. There will be perceptual hurdles to clear, and regulators to convince.

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Payments cryptocurrency social media Regulation 179

PYMNTS

MARCH 14, 2019

Both corporates and banks have said Know Your Customer ( KYC ) regulations are their most pressing compliance concerns, with nearly three-quarters of businesses with more than $1 billion in revenues pointing to KYC as their top challenge. ” and an overall rise in complexity of current regulations.

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Fraud Survey Taxes Regulation 115

PYMNTS

OCTOBER 4, 2019

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. Mastercard: Fraud-Fighting’s New Mantra — Test, Protect, Prevent.

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Fraud Google Apple Chicago 108

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

Abrigo

FEBRUARY 8, 2022

Takeaway 1 NBFIs are agile and innovative and are competing head-to-head with traditional financial institutions. Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Stay up to date on regulations affecting NBFIs and other BSA trends. DOWNLOAD .

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Compliance Training Regulation Fraud 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

SEPTEMBER 5, 2019

Also, Visa says chip cards have reduced counterfeit fraud by 87 percent since their inception, and Grab is planning to earmark $150 million for additional research into artificial intelligence (AI). “But it also means recognizing the wider social benefits from innovation and allowing them space to develop.”.

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Fraud Payments Cards Innovation 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.”. China, Hong Kong, Singapore and Russia, have warned that lack of regulations has made ICOs popular with scammers.

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cryptocurrency Bitcoin Regulation blockchain 124

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.

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National cryptocurrency Risk Management Regulation 113

PYMNTS

DECEMBER 8, 2020

Nonetheless, Many FIs are looking to simplify and secure their onboarding procedures while also enabling customers to stay safe during the pandemic, leading them to seek out innovative technologies to do so. The company said its technology prevented one fraud attempt every 51 seconds during the month, totaling 22,000 thwarted attacks.

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Video Report Meeting United States 211

Abrigo

FEBRUARY 25, 2022

Codified risk-based approach The AMLA codified the risk-based approach for the first time, and a thorough risk assessment is necessary to justify businesses to your regulators. ?As As regulators get up to speed with new FFIEC Exam Manual updates, you may need to remind them that not all groups of customers present the same risk.

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Regulation Policies Compliance Washington 195

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

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. After that time, they purportedly stole ether, bitcoin and NEO to the tune of $20 million.

Bitcoin 178

Bitcoin ATM Security cryptocurrency 178

Bank Innovation

MARCH 2, 2018

The 16 registered cryptocurrency exchanges currently operating in Japan will soon form a self-regulating body, after a $530 million heist of digital coins in the region led to investor concerns, Reuters reported today.

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cryptocurrency Regional Regulation Operations 199

PYMNTS

MARCH 14, 2019

And there, Kohli said, innovation is helping corporates adapt to and manage these global risks. The rise of third-party payment providers, and the opportunity for traditional institutions to collaborate with them, has also opened doors for cross-border payments innovation. Treasurers’ Biggest Worries.

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Payments Innovation National Fraud 193

PYMNTS

JULY 31, 2018

In addition, a new survey reported that 72 percent of respondents, questioned by Gallup, said they have no intention of buying the cryptocurrency. In other news, the CEO of a cryptocurrency mining startup has disappeared with $35 million. The price of bitcoin, after briefly slipping below $8,000, was down 0.8 percent at $8,130.07.

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Bitcoin Innovation cryptocurrency blockchain 107

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

Abrigo

NOVEMBER 11, 2021

Usually, the ransom is a substantial amount of money or cryptocurrency. Monitoring this type of activity is where the keen eye of AML and fraud investigations professionals is crucial and where AML software can provide significant support. . This is a classic layering method using innovative technology. Trends and Typologies.

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Fraud cryptocurrency System Trends 195

Abrigo

NOVEMBER 11, 2021

Usually, the ransom is a substantial amount of money or cryptocurrency. Monitoring this type of activity is where the keen eye of AML and fraud investigations professionals is crucial and where AML software can provide significant support. . This is a classic layering method using innovative technology. Trends and Typologies.

Fraud 195

Fraud cryptocurrency System Trends 195

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

FEBRUARY 21, 2018

Singapore stepped onto the global stage as a world leader in blockchain innovation in recent months. 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.

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blockchain Los Angeles Regulation Oregon 130

PYMNTS

NOVEMBER 8, 2020

According to the release, Ripple chose DIFC for its “innovative regulations, expansive network and reputation as a leading global financial centre,” according to the release, with the two companies “aligned” in their visions for the future.

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Bitcoin blockchain Fraud Conference 155

PYMNTS

MARCH 4, 2020

LaFontaine was warned by his subordinates and by regulators that capping the number of alerts was dangerous and ill-advised. FinCEN encourages technological innovations to help fight money laundering, but technology must be used properly.” . 10, with new regulations for cryptocurrencies, wallets and exchanges.

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US Regulation cryptocurrency Resources 130

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. He said Calibra will be regulated by the U.S. North Carolina Sen. He said the U.S.

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cryptocurrency North Carolina Idaho Louisiana 142

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.

Payments 172

Payments Fraud Security Technology 172

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. Will regulators tip the playing field in favor of (digital) fiat?

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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! The moment it got really serious, they said, the regulators would step in and kill it. Investigators were looking into fraud at Tether; crypto exchanges were being preyed on by hackers.

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Bitcoin Payments Conference cryptocurrency 168

PYMNTS

APRIL 28, 2017

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. The regulatory body noted that bitcoin must first have surveillance sharing agreements with significant markets and that those markets must be regulated.

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Bitcoin Regulation cryptocurrency Marketing 120

Insights on Business

DECEMBER 19, 2018

FINRA and other regulators have informed firms of their expectation to adopt practices of “heightened supervision” to isolate high-risk brokers and activities, including those who have previously committed financial crimes. Heightened supervision expands the aperture. Join the discussion.

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Regulation Innovation Compliance Risk Management 111