Abrigo

JANUARY 4, 2023

Guidance for banks on the lookout for crypto scams and fraud The turbulent cryptocurrency scene should put bankers on high alert. You might also like this whitepaper, "Understanding cryptocurrency." Takeaway 1 Cryptocurrencies are the newest and most popular field in potential financial gains through fraud.

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Perficient

JANUARY 27, 2022

Technological innovation has recently ushered in a wave of digital assets with money-like characteristics, including cryptocurrencies based on the combination of cryptographic and distributed ledger technologies, which together provide a foundation for decentralized, peer-to-peer payments.

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Abrigo

MARCH 7, 2022

The world of FinCrime is more dynamic than ever, with fraud escalating thanks to an increase in mobile payments precipitated by the pandemic and security concerns rising over the Russian conflict in Ukraine. Cryptocurrency In general, traditional financial institutions have a low risk tolerance for banking cryptocurrency.

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PYMNTS

OCTOBER 26, 2017

It’s been a big year for cryptocurrency. In September, JPMorgan Chase CEO Jamie Dimon called bitcoin a “ fraud.” Goldman Sachs joined in the conversation earlier this month, saying that bitcoin and cryptocurrencies like it are “ not the new gold ” and lose out to the precious metal in a “majority of the key characteristics of money.”.

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cryptocurrency Bitcoin blockchain Regulation 101

PYMNTS

AUGUST 2, 2019

Data storage firm Seagate revealed that it has moved its anti-fraud blockchain project with IBM into the pilot stage. The technology could also be used to verify that any returned drives have undergone a “certified erase” process to remove any user data.

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blockchain Fraud Data Report 148

PYMNTS

JUNE 21, 2019

The dispute over the Office of the Comptroller of the Currency ‘s (OCC’s) national bank charter, which became available to FinTech firms last year, has reportedly caused technology conglomerates to shy away from a tool that aims to provide nonbank firms with a more streamlined way to operate on a national level. Or does it?

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PYMNTS

MARCH 14, 2019

” Technological Troubles. Strategic Treasurer and TD Bank found in their survey that the majority of respondents said manual processes are their biggest operational challenges today, more so than issues like fraud, regulatory changes or staffing.

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Bank Innovation

OCTOBER 13, 2016

As we know, two of the most prized traits of blockchain technology, specifically when one is talking about the bitcoin blockchain, are its anonymity and its immutability. Unfortunately, those traits also lead to a fair amount of fraud; which is why Terbium Labs, a “dark web intelligence provider,” has teamed Read More.

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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. Artificial intelligence (AI) and machine learning (ML) : AI and ML will be used to automate tasks, improve customer service, and detect fraud.

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United States Analytics Risk Management Google 95

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 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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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 news about Libra has been out for about a week. There will be perceptual hurdles to clear, and regulators to convince.

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Payments cryptocurrency social media Regulation 179

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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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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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. Brazil-based facial recognition and identification technologies provider Acesso Digital recently reported that more than 5.2

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PYMNTS

NOVEMBER 11, 2020

Meanwhile, hackers purportedly sought $11 million worth of cryptocurrency from Japanese computer gaming company Capcom in return for not providing illicitly gathered private data, CoinDesk reported.

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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.”. Banking 2.0. In this way, our clients can already benefit from Banking 2.0.”.

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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

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. On another note, the Science and Technology Directorate ( S&T ) arm of the U.S.

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Bitcoin ATM Security cryptocurrency 178

PYMNTS

MARCH 14, 2019

And there, Kohli said, innovation is helping corporates adapt to and manage these global risks. While this trend has disrupted legacy business models, it has also opened up opportunities for cash managers to embrace new technologies and drive efficiencies through things like smart devices and growing cloud computing power.

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Payments Innovation National Fraud 193

PYMNTS

JANUARY 28, 2020

When it comes to payment rail innovation, transaction speed is often the catalyst driving change. currently accept cryptocurrency as payment, with even more investing in crypto for their own use. New research from HSB , for instance, found that one-third of small and medium-sized businesses (SMBs) in the U.S.

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Payments blockchain cryptocurrency Innovation 199

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

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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. On new solutions, I spend time in fundamental research analyzing new market trends, topics and use cases and exploring how to develop innovative technologies to expand into those areas.

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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.

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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.

Fraud 195

Fraud cryptocurrency System Trends 195

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

PYMNTS

JANUARY 1, 2019

Bitcoin (and other cryptocurrencies) had started its major run; everyone was excited. Cryptocurrencies were going to change the world! Investigators were looking into fraud at Tether; crypto exchanges were being preyed on by hackers. Are cryptocurrencies a bad idea? I remember a conference almost a year ago.

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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

NOVEMBER 30, 2017

While the Federal Reserve does not have plans to issue digital currency, it is actively researching the underlying technology, said John Williams, president of the San Francisco Federal Reserve Bank.

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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. And the New York Times has revealed that it is planning to use blockchain technology to fight fake news. Lacewell said in a press release.

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Regulation Bitcoin New York Online 108

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. He made his comments to Bloomberg at the Bloomberg Player’s Technology Summit in California.“I It said it disapproved because “the exchange has not met its burden.”.

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PYMNTS

AUGUST 15, 2018

A new survey released from TD Bank suggests that real-time payments technology is beginning to capture the attention of the corporate payments world. 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

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

JANUARY 30, 2018

No one truly knows exactly where and how blockchain technology will make the greatest impact. Regardless of where blockchain makes its mark, what is certain is that corporates have to trust that a largely unfamiliar innovation will work the way it should; that means securely, efficiently and easily.

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blockchain Security Software Tools 144

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

MARCH 30, 2020

Debit networks need to ensure that customers feel safe using the payment method, and that means imposing robust security measures and quickly cracking down on any instances of fraud that do slip through. The March Next-Gen Debt Tracker ® examines how debit cards are advancing into new areas to serve cryptocurrency holders and even children.

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Cards Security cryptocurrency Payments 165

Abrigo

FEBRUARY 8, 2022

Takeaway 1 NBFIs are agile and innovative and are competing head-to-head with traditional financial institutions. NBFIs are agile and innovative and are competing head-to-head with traditional financial institutions. Here are 10 basics to ensure a sound program. You might also like this downloadable Customer Due Diligence Checklist.

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