PYMNTS

AUGUST 19, 2019

Aided by technology – and emboldened by the rise of cryptocurrencies – fraudsters are stepping up ransomware campaigns. In comments reported earlier this week, cyber insurance security responder Tom Bennett of CFC Underwriting told The Financial Times that that claims surged in June and July. Corporate Wire Fraud.

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PYMNTS

JULY 15, 2019

billion is estimated to have been lost to cryptocurrency scams, thefts and fraud in the first quarter of 2019, and cybercriminals and scammers are not the only ones putting digital asset users at risk. Thwarting fraud and making usage as secure as possible are key concerns for Canadian trading platform Bitbuy.

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Abrigo

MARCH 7, 2022

Takeaway 2 Planning ahead and informing management of expected changes will help financial institutions adapt to anticipated rules and guidance. However, the panel suggested thinking and planning around AMLA requirements and informing executive management of expected changes. 2022 Regulatory Focus. 2022 Regulatory Focus.

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PYMNTS

FEBRUARY 13, 2019

QuadrigaCX, the Canadian crypto exchange that previously lost $250 million CAD worth of cryptocurrencies and fiat, has reportedly lost an additional $500,000 CAD. The Monitor is working with Management to retrieve this cryptocurrency from the various cold wallets, if possible.”. The digital tokens include 51 bitcoin , 0.14

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PYMNTS

SEPTEMBER 18, 2018

A cyberattack on what’s been described as a “decentralized” token exchange reportedly has led to a $58,000 theft and an illustration of a “shocking security vulnerability.”. The EOS token is taken as a cryptocurrency in ICO.”. According to a report in The Next Web , hackers flooded the exchange with “one billion fake EOS.”

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PYMNTS

JUNE 21, 2019

Fraud knows no boundaries. Aside from the political implications of such claims, The New Yorker ‘s report pointed to the fraud risks that organizations face, even from the C-Suite. It also highlighted the predicament that organizations face if a C-Suite executive is found committing fraud. In the U.S.,

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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.

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PYMNTS

JUNE 22, 2020

The Securities and Exchange Commission has filed a lawsuit to freeze the assets of two brothers allegedly engaged in “an offering fraud” and in misappropriating investor funds. Fraud relating to cryptocurrency has been on the rise in recent years as the form has become more mainstream.

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PYMNTS

MAY 12, 2020

Bitcoin has long been the marquee name — shorthand, if you will — for the cryptocurrency space. The bank is providing cash-management services for the exchanges’ U.S. A few years ago, JPMorgan CEO Jamie Dimon stated that bitcoin amounted to a fraud that was “worse than tulip bulbs.” The Risks of Fraud. bitcoin exchange.).

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Abrigo

MARCH 11, 2022

Takeaway 2 Planning now and informing executive management of expected changes will enable NBFIs to move forward with anticipated rules and guidance. Recently, the Secure and Fair Enforcement Banking Act of 2021 (SAFE Act) passed the house for the third time. Regulatory Focuses in 2022. Regulatory topics for NBFIs to watch for.

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PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. That’s according to the U.S. Cryptos also help bad actors avoid sanctions.

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FICO

NOVEMBER 15, 2021

This week is International Fraud Awareness Week — but every week is Fraud Awareness Week for FICO, as we focus on helping banks and other financial institutions worldwide detect and manage fraud. Fraud is a big burden for such organizations but there are of course other victims – people just like you and me.

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FICO

DECEMBER 17, 2020

Cryptocurrency exchange rates have skyrocketed in the past month. According to a recent report , the total of cryptocurrency related frauds and thefts stands at a staggering $7.69b. billion lost in exchange theft and security breaches, and $4.8 billion of losses stemming from fraud, scams, and misappropriation of funds.

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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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PYMNTS

NOVEMBER 18, 2020

18), the first time the cryptocurrency has climbed above $18,000 since December 2017, CNBC reported. While the digital coin has been going through waves in its price point, some analysts and cryptocurrency fans said they think the trajectory is uphill. MPC-based and cold storage crypto wallets are secured and were not compromised.”.

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PYMNTS

JANUARY 30, 2018

In corporate finance, the tool could upend the status quo of supply chain management, cross-border payments, invoicing and document sharing and more. Because so many developers are deploying blockchain for the purpose of enhanced security, the executive added, “ensuring the technology is glitch-free is critical.”.

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PYMNTS

JUNE 29, 2020

Connie Ngo , CertiK’s marketing manager, told CoinDesk in an email that the companies agreed “it would make sense to formally partner with one another as a public promise of Hdac’s focus on security and a symbol of CertiK’s ability to support larger enterprise-level solutions such as Hdac’s.”

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PYMNTS

JUNE 17, 2020

Robert Farkas, the 33-year-old co-founder of crypto project Centra Tech , has pleaded guilty in court to conspiring to commit securities and wire fraud, Coindesk reported. In Saudi Arabia, the Islamic Development Bank Group is developing a new blockchain-based smart credit management system.

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PYMNTS

NOVEMBER 11, 2019

Governments are tightening know your customer (KYC) and anti-money laundering (AML) requirements on various industries out of increasing concern over fraud threats. Other companies are turning to management and workflow automation tools to improve their KYC and AML efforts. How Zillow Co mbats Real Estate Fraud.

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PYMNTS

MARCH 15, 2020

The New York Department of Financial Services ( NYDFS ) sent a letter to the approximate 18 cryptocurrency firms it regulates saying they have 30 days to submit a contingency plan in the face of the coronavirus epidemic. We have a standing Crisis Management Team continually reviewing new information as it comes in. “Our

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PYMNTS

AUGUST 28, 2019

Kadena’s existing blockchain clients include $3 billion asset manager USCF Investments, healthcare technology company Rymedi, and leading Latin American technology business Alteum, as well as one of the world’s top 100 largest banks, and Fortune 500 companies. “In SEN allows our institutional customers to deposit and withdraw U.S.

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PYMNTS

JUNE 8, 2020

The Securities & Exchange Commission ( SEC ) has moved to freeze the assets of a $12 million cryptocurrency mining and multi-level marketing (MLM) scheme, Coindesk reports. The group managed to get $12 million from 2,000 investors, Coindesk reports. The defendant in the case is Utah resident Daniel F.

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Perficient

SEPTEMBER 16, 2022

Consumer protection – Concern for the consumer was emphasized throughout the letter as the FRB highlighted risks to the public due to price volatility, misinformation, fraud, as well as the outright loss or even theft of assets. Engaging in Crypto-Asset-Related Activities: A Federal Reserve Checklist. Financial risk. Legal risk.

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PYMNTS

FEBRUARY 26, 2019

A man in India tricked 12 people out of $250,000 with a scam involving a fake cryptocurrency named after the Indian version of the show “Who Wants To Be A Millionaire,” according to reports. He is believed to have been running the scheme since around the crypto surge at the end of 2017, but the fraud was filed with police just last week.

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South State Correspondent

FEBRUARY 14, 2022

Businesses and households that need an inventory, valuation, repair, or risk tracking (fraud, theft, etc.) As we discussed in our primer on defi and blockchain ( HERE ), part of the allure of cryptocurrency is that it transfers the payment’s message (information about the transaction) and value simultaneously.

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PYMNTS

NOVEMBER 22, 2020

Malicious actors have now managed to momentarily take control over several cryptocurrency platforms by scamming employees at GoDaddy, the domain hosting service for these sites, in multiple attacks. But the hackers had tried to use their internal email access to change passwords for third-party services, such as Slack and Github.

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PYMNTS

JUNE 23, 2019

Overstock CEO Patrick Byrne said that he welcomes Facebook ’s entry into the cryptocurrency market. Byrne predicted that security tokens will reduce friction in capital markets while also improving price discovery. The killer app of blockchain is security tokens,” Byrne said. I perpetrated a fraud.

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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.” Through intermediated exchanges of payments, banks facilitate the flow of funds within our economy and serve important financial risk management and other financial needs of bank customers.

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The Paypers

JUNE 8, 2018

(The Paypers) Coinify , a platform offering cryptocurrency trading and payment solutions, has announced their partnership in anti-fraud and AML management with Cybertonica.

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PYMNTS

DECEMBER 27, 2018

Amidst the growth in number of cyberattacks and security breaches, consumers are growing increasingly concerned over the security of their personal data and privacy. That includes cryptocurrency trading platform Coinbase , which has implemented 2FA for every account on its platform.

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PYMNTS

MAY 2, 2019

Amazon Web Services (AWS) has launched its Amazon Managed Blockchain , a service that enables users to create and manage scalable blockchain networks. However, they find these frameworks difficult to install, configure and manage,” said Rahul Pathak, general manager of Amazon Managed Blockchain at AWS, in a press release.

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Javelin Strategy & Research

NOVEMBER 15, 2022

Banner Section Home Rss.xml 2023 Trends & Predictions Javelin’s Trends & Predictions reports look at the coming year across the range of Javelin Strategy & Research’s practice areas—digital banking, fraud & security, payments, and wealth management—and highlight the compelling challenges and opportunities likely to emerge.

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PYMNTS

APRIL 5, 2019

Dozens of cybercriminal groups have found a home on Facebook , using the platform’s online marketplace to sell illegal services such as stolen credit card information, as well as account theft and spamming tools, according to Cisco Systems’ Talos security unit.

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PYMNTS

NOVEMBER 12, 2019

Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected.”. Users will also be able to view payment history, update settings or manage payment methods all in one place. With Facebook Pay, we’re continuing to invest in security,” Facebook said. “We

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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.”. BitMEX Indictments. BitMEX has had substantial troubles of its own recently.

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PYMNTS

SEPTEMBER 30, 2020

Securities and Exchange Commission (SEC) claims that a Florida digital currency trader purportedly bilked customers out of $6.8 The individual was charged with different contraventions of securities laws in a U.S. He purportedly attracted investors with claims he managed $100 million and vows of high profits, according to the report.

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PYMNTS

MARCH 23, 2018

The drop came as news surfaced that Japanese regulators were scrutinizing cryptocurrencies. The new service will include blockchain tools for developers of a wide range of apps that serve a variety of needs, from supply chain data tracking to insurance fraud prevention. Bitcoin was trading at $8,505.18 as of 4:24 a.m., In the U.K.,

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