Perficient

DECEMBER 27, 2023

Other, traditional financial crime risks, especially fraud, continue to demand banks’ vigilance. Significant increases in Suspicious Activity Reports (SAR) filings related to fraud highlight the importance of effective processes to prevent, identify, and file SARs within a timely manner.

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JULY 27, 2020

The OCC issued a letter last week stating that “a national bank [and a federal savings association] may provide. cryptocurrency custody services on behalf of customers, including by holding the unique cryptographic keys associated with cryptocurrency.” The key phrase above is “any lawful business.”

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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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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

FEBRUARY 21, 2018

A former cryptocurrency exchange and its founder are facing charges from the Securities and Exchange Commission (SEC), the agency announced in a press release on Wednesday (Feb. Montroll operated an unregistered online securities exchange and defrauded its users by misappropriating their bitcoins. “We

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PYMNTS

DECEMBER 24, 2020

If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. Keeping An Eye On Fraud.

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PYMNTS

JUNE 21, 2019

Fraud knows no boundaries. new reports from The New Yorker this week dove into how the current CFO of the National Rival Association (NRA) allegedly embezzled funds from his last company, employee benefits consulting firm the Wyatt Company. ” Similar predicaments of public image arise when a government falls victim to fraud. .

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PYMNTS

APRIL 26, 2020

The site, coronaprevention.com, was posted on a hacker’s forum the day after the virus was declared a national pandemic by the President, according to a complaint. The owner of a site that wanted to sell fake coronavirus cures and accept payment in bitcoin has been seized by the U.S. Attorney’s Office for the District of Colombia.

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PYMNTS

SEPTEMBER 23, 2020

21), noting that it would offer an alternative to private cryptocurrencies. The idea of a digital token has been touted by a number of nations and firms lately. Chinese Regulator Fines Luckin, 43 Other Companies In Fraud Case. Lagarde positioned the change as a necessary one to acclimate to the new digital world.

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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. Bitcoin has continued to rise, hitting $18,172 Wednesday morning (Nov. Eastern Time.

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PYMNTS

NOVEMBER 30, 2020

Pizza Hut will now accept cryptocurrency as a form of payment at its stores in Venezuela, Cointelegraph reported. 27 that it was partnering with the pizza chain to process cryptocurrencies, including Bitcoin, Litecoin, Binance Coin, Binance USD, Tether, Dash, Ether, Dai and XPT, Cryptobuyer’s native coin. billion) from more than 2.6

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PYMNTS

JANUARY 1, 2021

The outcome, should it come in 2021, would shape how app store and other platforms operate, and whether they promote or hinder competition and innovation in various tech marketplaces. In the nascent and burgeoning cryptocurrency space, the U.S. Beyond The Companies .

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PYMNTS

DECEMBER 2, 2019

Looking back at 2019, and at cryptocurrencies, we may well make the declaration that fraudsters got a lot more brazen … which may mean 2020 is the year lawmakers and regulators clamp down through a global, concerted effort to root out financial crime. billion in fraud and theft seen last year. billion number is a huge jump from the $1.7

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JUNE 30, 2020

The company said in the report, “As the value of cryptocurrency rises and falls, so does the mining encounter rate. “. 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.

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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. Usually, the ransom is a substantial amount of money or cryptocurrency. financial institutions.

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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. Usually, the ransom is a substantial amount of money or cryptocurrency. financial institutions.

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PYMNTS

MARCH 23, 2018

To take stock of the cryptocurrency market, take stock? News came Friday that the wild west of cryptocurrencies — where fortunes are made and lost in the blink of an eye, and where regulations are less than regular — might be well-governed by the stock market when it comes to governance. After a fashion.

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PYMNTS

JUNE 16, 2018

Russia’s corporate treasurers are working with the nation’s central bank on a blockchain initiative, reports in CoinDesk said Friday (June 15). Russia’s FinTech Association and 14 of the nation’s largest banks collaborated on the development of Masterchain, reports noted, citing a white paper.

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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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PYMNTS

JULY 27, 2017

noted the report, plans to extradite Vinnik, who two sources told Reuters is the key person behind the cryptocurrency platform that was down since earlier this week. “An Their respective operators have also been arrested. Two cybercriminals in Germany were arrested as the operators of Hansa (their nationality seems to be unknown).

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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.”. 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

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. In other cryptocurrency news, Cryptoinvest reported Thursday (April 25) Disney could acquire a majority stake in Nexon , the Korean gaming company. The report noted Kakao Corp.

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PYMNTS

SEPTEMBER 30, 2019

Visner of the National Cybersecurity Federally Funded Research and Development Center (FFRDC) — managed by nonprofit MITRE , in support of the NIST National Cybersecurity Center of Excellence — told Karen Webster that cybersecurity threats to institutions and enterprises exist at several levels. The aggressors in this cyberwar?

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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. Daniel Gouldman, CEO of crypto banking platform operator Ternio, told Karen Webster that even Grandma can now access a new way to interact with currency. Top Trackers And Reports.

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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. 6) cyberattack, is now claiming the hack likely came from an IP address outside the European Union.

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PYMNTS

JULY 1, 2019

The post even included a made-up quote from the crown prince, saying that trading platform is “my way of giving back to the people,” according to The National. The CEO of the OneCoin cryptocurrency scam, Konstantin Ignatov, will go to trial after the New York Southern District Court’s Judge Edgardo Ramos denied a bond application.

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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? Takeaway 2 In 2021, ransomware, business email compromise (BEC) schemes, and cryptocurrency crime were among the top incidents reported. These measures can help.

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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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PYMNTS

DECEMBER 7, 2018

Not to ruin your holiday spirit, but let’s start this story with the cold and brutal truth: One of the largest risks that payments and commerce operators face in 2019 is being called to account by government officials, regulators or media about a failure to secure their organizations from cyberattacks. and other places.

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PYMNTS

OCTOBER 18, 2019

Sometimes the darkest deeds, even done through cryptocurrency means, come to light. 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. Immigration and Customs Enforcement’s Homeland Security Investigations (HSI).

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PYMNTS

FEBRUARY 21, 2018

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. New analysis from Moody’s found that banks in Saudi Arabia could save a combined $400 million a year by using blockchain to facilitate cross-border payments.

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PYMNTS

SEPTEMBER 17, 2018

For airlines and hotels, catering to customers from around the world means dealing with a long list of complications, including accepting payments in a host of local currencies, complying with national and international regulations, and finding ways to afford or offset the high price of processing fees.

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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

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. The recent surge has been pushed by a hard fork essentially developing a new cryptocurrency, dubbed Bitcoin Cash.

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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. 65% of U.K. 60% of U.K.

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PYMNTS

MARCH 11, 2016

Criminals, for example, like the Czech national Thomas Jiikovský, who pled guilty to operating a $150 million Ponzi scheme in what is believed to be the first bitcoin securities fraud case. That’s led law enforcement to realize how cryptocurrency and its rich data can help them trace the bitcoin trail.

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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. Ready to make the leap? A few times. It wasn’t an April Fool’s prank. But the deal has some conditions.

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