PYMNTS

JANUARY 23, 2020

5AMLD’s impacts include strengthening anti-money laundering (AML) and counter-terrorist financing (CTF) regulations in the cryptocurrency space — something that has not pleased all the affected crypto companies. Worldpay On Modernizing Security To Foil eCommerce Fraud. Around The AML/KYC World. Get the full story in the Tracker.

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PYMNTS

DECEMBER 11, 2020

As goes banking, so goes fraud. PYMNTS December 2020 AML/KYC Tracker® done in collaboration with Trulioo probes the heightened fraud climate accompanying the mobile-digital shift, zeroing in on key aspects of prevailing in the digital fraud wars. It has ever been thus.

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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

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

OCTOBER 7, 2020

With transactions that become irreversible almost instantaneously, bitcoin and other cryptocurrencies are winning new converts — among scammers eager to avoid credit card chargebacks that can eat into their ill-gotten gains. So, use your credit card to buy cryptocurrency that you give a scammer and you might be stuck.

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PYMNTS

OCTOBER 13, 2020

And, while terrorist use of cryptocurrency is still evolving, certain terrorist groups have solicited cryptocurrency donations running into the millions of dollars via online social media campaigns.”. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year.

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PYMNTS

MAY 3, 2019

Officials in Germany have shut down a covert illegal online marketplace and detained three men they say are responsible for leading the online trading platform, according to a report by Reuters. The men were captured after a joint operation, started in March, by the European Union’s Europol agency. Of that, $4.5

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PYMNTS

MAY 20, 2020

And now the fraudsters, increasingly, seem to be eyeing bitcoin, the marquee name in cryptocurrency, as coin of the realm across the dark web. In another finding, late last year, CipherTrace reported that cryptocurrency-related theft was poised to hit $4.4 The digital age, of course, has given rise to digital scams.

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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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PYMNTS

APRIL 26, 2020

According to the warrant, the seller then engaged with an undercover Homeland Security operative, talking about how cool it would be to sell “fake testing kits” with coronaprevention.com. The seller expressed a disdain that he couldn’t do it himself, not having enough funds to buy them from Chinese eCommerce site Alibaba.

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PYMNTS

JANUARY 1, 2021

As reported in this space , the DSA and DMA cover online marketplaces, social media and other platforms. The proposal also mandates more disclosure on "online advertising and on the algorithms used to recommend content to users.". In the nascent and burgeoning cryptocurrency space, the U.S. Beyond The Companies .

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PYMNTS

DECEMBER 8, 2020

Many of these processes had begun to shift to digital channels within the past several years, however, and the health crisis has caused the online shift to pick up steam at an incredible pace. The company said its technology prevented one fraud attempt every 51 seconds during the month, totaling 22,000 thwarted attacks.

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PYMNTS

AUGUST 28, 2019

The Blockchain-as-a-Service (BaaS) model enables organizations to start using Kadena’s blockchain by quickly provisioning it online, significantly reducing the cost and time-to-market associated with the on-premise installation of other blockchain solutions. SEN allows our institutional customers to deposit and withdraw U.S.

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PYMNTS

APRIL 18, 2019

Over the course of their operation, the men shipped more than 1,000 packages to buyers in 43 states, and laundered $2.3 million in cryptocurrency. The indictment points out that those items are needed “to manufacture and sell tablets containing controlled substances.”. “It is definitely a significant arrest.”

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PYMNTS

JUNE 5, 2019

According to a report from Quartz , “over the past seven years, a New York City-based fraud ring allegedly stole more than $19 million worth of iPhones by posing as cell phone subscribers to get new devices at little or no cost. Another relatively fresh digital scam involves cryptocurrencies and diamonds. Targeting Dead People.

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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. The Bank of Thailand is exploring new KYC approaches, announcing plans to pilot online biometric KYC checks on customers seeking to open savings accounts.

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PYMNTS

APRIL 15, 2019

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. They are both scheduled to be sentenced on August 14.

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PYMNTS

JULY 14, 2019

Design and Cayenne Technology reportedly created the Online Bid Solution (SOL), which is said to be a technology based on the blockchain. And the operator of BitFunder, a defunct trading platform that was denominated in bitcoin, and WeExchange was sentenced for obstruction of justice as well as securities fraud, CoinDesk reported.

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PYMNTS

AUGUST 23, 2019

One common criticism of bitcoin and other cryptocurrencies is that — beyond the wild price swings and uncertain regulatory climate — the digital coins are not widely accepted by merchants on any grand scale. In simple terms, SPEDN processes transactions made with cryptocurrencies such as bitcoin, Ethereum and Litecoin, among others.

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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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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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PYMNTS

APRIL 10, 2019

Bittrex was ordered to stop operating in New York and close shop within 60 days. In other bitcoin news, two men in Singapore were arrested on charges that they promoted OneCoin, a multi-billion dollar cryptocurrency pyramid scheme. Richo would target people on the dark web by posting false links to online marketplaces.

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PYMNTS

AUGUST 13, 2019

The Securities and Exchange Commission (SEC) has announced fraud charges against a Brooklyn individual and two of his entities who allegedly engaged in a fraudulent scheme to sell digital securities to investors and to manipulate the market for those securities. The agency is looking to freeze at least $8 million of the $14.8

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PYMNTS

DECEMBER 4, 2020

This week, Stripe introduced banking services, we get a glimpse of the EU's upcoming Digital Services Act and PYMNTS' data reveals online purchases ruled Black Friday. Regulatory hurdles still exist, but when PayPal announced that its 350 million users can transact with bitcoin and other cryptocurrencies, the game changed.

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PYMNTS

OCTOBER 31, 2019

Miami-based BankLine has partnered with a variety of crypto-friendly financial institutions on banking and cash logistics services for the cryptocurrency industry. Its crypto BTM operators are able to process cash deposits via an armored cash logistics service, with funds posted within 24 to 72 hours depending on the market.

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Qudos Bank

FEBRUARY 15, 2024

It’s also worth asking for an investment prospectus from any company you’re considering working with on investing, but reach out via different channels to your established communication pathway/s so you can get a better sense of the company and their operating style.

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PYMNTS

APRIL 18, 2017

And that’s why they have turned to alternative payments as a way to both get paid and elude the traps that fraud detection systems have put up to find them. One of the biggest hurdles in perpetrating fraud online is getting paid — and why fraudsters are always onto the next best opportunity. Payment Hustlers on the Rise.

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PYMNTS

JUNE 26, 2020

The Hong Kong-based payments and cryptocurrency platform said it is refunding 100 percent of customer funds after the Financial Conduct Authority (FCA) suspended Wirecard’s operations. TenX, the London-based cryptocurrency payment platform, is also a Wirecard issuer. All funds will be refunded in the next 48 hours.

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PYMNTS

JANUARY 13, 2021

billion planned acquisition of Plaid after objections stemming from a Department of Justice (DOJ) antitrust lawsuit, which said it would put Visa in a position to maintain a monopoly in the online debit card market. Swap.com Uses Data Analytics To Fight Post-Holiday Fraud Surge. Visa has opted out of its $5.3

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PYMNTS

FEBRUARY 14, 2019

If so, that would serve as a harsh reminder that the dangers out there in the digital wilds come not only from criminals bent on creating fake accounts and other vehicles, but also intelligence operations that keep developing their hacking and cyberwar expertise. Breach Confusion.

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PYMNTS

MARCH 26, 2020

Jeffrey Zack, a spokesperson for the company, said there was “no evidence” that the breach had hit the company’s own network, adding that it was “fully operational.” If a victim doesn’t pay, then the stolen files are published online. Zack did not say anything beyond that. In December, it warned companies about the threat.

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PYMNTS

MARCH 4, 2020

The Financial Crimes Enforcement Network (FinCEN) has fined Michael LaFontaine, former chief operational risk officer at U.S. 10, with new regulations for cryptocurrencies, wallets and exchanges. Some operators responded by moving to countries with more relaxed rules, or simply shuttering.

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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. But at this point, it seems unlikely that major changes are in store for the eCommerce operator.

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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

SEPTEMBER 29, 2020

Jumio , known for its suite of artificial intelligence (AI)-powered identity verification and online know your customer (KYC) products, is beefing up its anti-money laundering (AML) powers. The Palo Alto-based firm on Tuesday (Sept.

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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.

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