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

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. The commission alleges BitFunder and Founder Jon E. As a result, the complaint seeks permanent injunctions and disgorgement, plus interest and penalties. “As

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PYMNTS

JANUARY 3, 2019

The BitTorrent Foundation-issued cryptocurrency will let users earn rewards for sharing their computer power. On another note, the National Electronics and Computer Technology Center (NECTEC) in Thailand created a system for voting that is based on the blockchain, Coindesk reported. lower than yesterday and 6.2%

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PYMNTS

JUNE 16, 2020

They spoke before the Subcommittee on National Security, International Development, and Monetary Policy Tuesday. Additionally, Kellerman called for a tax credit to encourage firms in the financial vertical to set aside 10 percent of their information technology (IT) budgets at a minimum toward cybersecurity.

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

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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

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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PYMNTS

MARCH 25, 2019

Consider the fact that, as noted in the most recent AML/KYC Tracker produced as a collaboration between PYMNTS and Trulioo , money laundering is estimated by the United Nations Office on Drugs and Crime to be an $800 million to $2 trillion-per-year problem, equivalent to 2 percent to 5 percent of the global GDP. How to Change.

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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

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 18, 2019

Economist Nouriel Roubini has called out Facebook ’s soon-to-be announced cryptocurrency, GlobalCoin, saying it is not really crypto. “It Though he noted that the specifics of the project are still unknown, Roubini explained that GlobalCoin probably won’t use common blockchain technologies. It has nothing to do with blockchain.

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PYMNTS

MARCH 14, 2019

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. And that’s all about using technology-based services to re-engineer treasury activities.”

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PYMNTS

NOVEMBER 19, 2019

The United States Federal Emergency Management Agency (FEMA) has revealed that it might look into using blockchain technology to streamline disaster insurance payouts, as well as speed up its response to disasters.

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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

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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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CFPB Monitor

JULY 14, 2022

According to its press release , the Order outlines “the first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology.” Mitigation of illicit finance and national security risks posed by misuse of digital assets; d. Reinforcement of U.S.

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PYMNTS

OCTOBER 10, 2019

North America and Europe also have presented strong user bases, while demand has been slower for countries with less-developed internet and communication technology sectors, such as those in Latin America, the Middle East and Africa. Cryptocurrency And Credit Cards. The firm also found it necessary to accept cryptocurrency.

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PYMNTS

OCTOBER 2, 2018

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. Among the more prevalent criminal methods focused on business, according to Divitt: new relationship fraud.

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CFPB Monitor

JULY 6, 2021

The Priorities, listed according to FinCEN “[i]n no particular order,” are as follows: Corruption; Cybercrime; Domestic and international terrorist financing; Fraud; Transnational criminal organizations; Drug trafficking organizations; Human trafficking and human smuggling; and. technology and trade secrets. Proliferation financing.

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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

FEBRUARY 21, 2018

According to reports, Kaliningrad governor Anton Alikhanov and VEB chairman Sergey Gorkov met with officials at the Russian Investment Forum to announce their collaboration using, according to Alikhanov, VEB’s “competence in the area of blockchain technology. United States.

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PYMNTS

JULY 17, 2019

Thom Tillis noted that for good or ill, cryptocurrency is here, and a potential important force in the market that ought to be reckoned with. It’s a good idea for us to explore this because quite honestly cryptocurrency now is still kind of the wild, wild west that is not well regulated,” he said. North Carolina Sen. He said the U.S.

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Abrigo

FEBRUARY 8, 2022

As the expectations around technology change with each generation and the recent pandemic pushing products and services that do not require an in-person transaction to become more mainstream, the demand for financial services to support a more decentralized experience has reached its peak. Non-bank financial institutions in focus.

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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

SEPTEMBER 29, 2020

People provided access to the online technology of Estonia via an eResidency program are reportedly being connected to digital currency schemes in other countries, Bloomberg reported. Approximately 70,000 virtual IDs have been provided to eResidents from 174 nations. Estonia is a country of 1.3

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PYMNTS

DECEMBER 7, 2018

National Security Agency who, along with his wife, Cyndi, now runs Gula Tech Adventures , a venture capital firm that focuses on digital security. That said, a strong cybersecurity program — one that keeps up with the technologies and tactics used by criminals — goes a long way. “If and other places.

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PYMNTS

JANUARY 24, 2018

It seems governments are a bit more open to distributed ledger technology (DLT), though that doesn’t mean blockchain companies get a free pass with regulators. government to explore the potential of blockchain, proving the Feds haven’t written the technology off. SEC Chairman Jay Clayton spoke Monday (Jan. securities bar.”.

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Gonzobanker

JULY 9, 2021

SoFi announced an agreement to acquire Golden Pacific Bancorp for ~$22 million, advancing the digital personal finance company’s regulatory pain point to obtain a national bank charter and offer more choices to both consumers and businesses. Banks and fintechs are in a heated mashup and seeking niches.

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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

As it stands, Braintrust is a completely distributed network and is in 15 nations throughout the globe. Also, Braintrust announced the addition of new large business customers with the inclusion of Stanley Black and Decker, Coursera, World Wide Technology (WWT), Align Technology (Invisalign), Mural and AthenaHealth.

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PYMNTS

JUNE 20, 2016

Today, there are more technologies than ever that can help a company gain visibility into cash flow. Most, the bureau noted, involved requests for wire transfers into bank accounts in Hong Kong and China, though 79 nations were identified within these requests, reports said. reports said, as is corporate employee fraud.

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PYMNTS

OCTOBER 26, 2016

“A key result of this application is in the reduction of paperwork and delays in processing and, therefore, the ability to reduce fraud. A common problem with the shipping of goods, similar to that faced by cryptocurrencies, is the ‘double spend,’” said Ira Schaefer of Hogan Lovells. And that’s at the international level.

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PYMNTS

MARCH 17, 2017

Lack of oversight, regulation and the potential for fraud in the broader bitcoin space. Jerry Brito , executive director of cryptocurrency advocacy group Coin Center, notably queried, “How do we develop well-capitalized and regulated markets in the U.S. Still, some aren’t satisfied with that. For some, it was quite the opposite.

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PYMNTS

MARCH 12, 2018

“And so we’ve got a brilliant technology [bitcoin] with a use case that just does not exist.”. Though the banking systems of politically less stable nations – say, in Africa and Central America – may give institutions and individuals pause, there’s a bit of backstop in the form of greenbacks.

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