PYMNTS

JANUARY 19, 2018

In the latest sign of regulatory action in the virtual currency realm, the Commodity Futures Trading Commission (CFTC) has filed a lawsuit against three virtual currency operators, with allegations that the trio had defrauded customers. In addition, the regulator charged, the three operators broke laws governing commodity trading.

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Operations Regulation US Bitcoin 120

Perficient

DECEMBER 27, 2023

Navigating AML and OFAC Compliance Risks Regarding anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) compliance risks, bank executives must navigate operational and compliance challenges tied to fintech relationships. Other, traditional financial crime risks, especially fraud, continue to demand banks’ vigilance.

Compliance 221

Compliance FDIC Regulation Fraud 221

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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Fraud Security Regulation cryptocurrency 157

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. billion — 91 percent — of those penalties, while European regulators demanded $1.7 imposed a full $23.52

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

MARCH 11, 2020

Regulators are passing stricter policies, as well as cracking down on anti-money laundering (AML), Know Your Customer (KYC) and sanctions noncompliance. FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide.

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Fraud Payments Guidelines Regulation 150

Bank Innovation

OCTOBER 3, 2017

The Acting Comptroller of the Currency of the United States, Keith Noreika, has stated that he is considering imposing a nationwide licensing program for cryptocurrency exchanges, similar to the licensing program recently enacted in Japan. Last week, Japan’s […].

United States 284

United States cryptocurrency Bitcoin National 284

Abrigo

DECEMBER 19, 2022

Checklists, guides, and more to help you and your AML-CFT staff Thousands of FinCrime professionals have accessed these guides, checklists, and other resources produced in 2022 by Abrigo's team, which includes former bankers, BSA officers, and regulators. . Training materials for anti-money laundering & fraud professionals.

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Resources Training Fraud Compliance 195

PYMNTS

DECEMBER 16, 2020

Through the integration with Plaid, Ternio users will be able to instantly authenticate bank accounts to help make transfers to their cryptocurrency-friendly BlockCard accounts, the release stated. Our customers will be able to link their existing financial institution to their crypto-friendly BlockCard bank account to easily move U.S.

cryptocurrency 267

cryptocurrency FDIC User Experience Security 267

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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Regulation social media cryptocurrency United States 129

PYMNTS

OCTOBER 13, 2020

Department of Justice, which said in a report that rogue nations and other risks loom as exchanges are lightly (or not at all) regulated – making it difficult to, as the maxim goes, follow the money. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. In the report from the U.S.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

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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cryptocurrency Fraud blockchain Security 219

PYMNTS

JULY 2, 2018

Just a few weeks in, the data privacy law that has just taken root in the European Union already has some regulators seeking exemptions around the globe. Pertaining to investigations, the regulation – which took effect on May 25 – places restrictions on the data that can be shared internationally in the “public interest.”

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Regulation North Carolina Alabama cryptocurrency 100

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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cryptocurrency Bitcoin Course Boston 258

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. A Grander Stage.

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Fraud Report cryptocurrency National 130

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. Facing Fraud.

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cryptocurrency Fraud Security Bitcoin 193

PYMNTS

SEPTEMBER 23, 2020

Plus, the State Administration for Market Regulation in China has fined Luckin Coffee and other firms. 21), noting that it would offer an alternative to private cryptocurrencies. Chinese Regulator Fines Luckin, 43 Other Companies In Fraud Case. The regulator said on Tuesday (Sept.

Cards 214

Cards Google Regulation cryptocurrency 214

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. COVID-19 has already had adverse economic effects domestically and globally.

cryptocurrency 150

cryptocurrency Bitcoin New York Regulation 150

PYMNTS

FEBRUARY 26, 2019

Jamie Dimon, the CEO of JPMorgan Chase, said the bank’s new cryptocurrency, JPM Coin, could one day be used by consumers, according to CNBC. The bank became the first to create its own cryptocurrency earlier this month. The bank became the first to create its own cryptocurrency earlier this month.

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cryptocurrency blockchain Bitcoin Payments 175

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.”. user ban.”. BitMEX Indictments.

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Regulation cryptocurrency Groups Innovation 169

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

Fraud 102

Fraud Bitcoin New York Regional 102

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. The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act.

Compliance 275

Compliance Risk Management System Regulation 275

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.

cryptocurrency 199

cryptocurrency Regional Regulation Operations 199

PYMNTS

MARCH 14, 2019

Both corporates and banks have said Know Your Customer ( KYC ) regulations are their most pressing compliance concerns, with nearly three-quarters of businesses with more than $1 billion in revenues pointing to KYC as their top challenge. ” and an overall rise in complexity of current regulations.

Fraud 115

Fraud Survey Taxes Regulation 115

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.

Fraud 108

Fraud Google Apple Chicago 108

PYMNTS

JULY 26, 2020

The Securities Commission Malaysia (SC) is planning to expand regulations to encompass digital asset wallet providers, adding to its frameworks that currently address Digital Asset Exchanges (DAX) and Initial Exchange Offering (IEO), the SC announced Thursday (July 23). Meanwhile, in the court case United States v.

Bitcoin 161

Bitcoin Regulation United States Operations 161

PYMNTS

SEPTEMBER 27, 2020

Russian telecom regulator Roskomnadzor looks to be targeting Binance , the world's largest cryptocurrency exchange, as a platform "disseminating prohibited information," according to Cointelegraph. The regulator said Binance had been put on a list due to distributing data related to the acquisition of digital coins like Bitcoin.

Bitcoin 210

Bitcoin Data cryptocurrency Regulation 210

PYMNTS

FEBRUARY 18, 2019

Cryptocurrency has come a long way since bitcoin’s emergence as an unregulated, anonymous payment technology. Perhaps the most poignant moment in this evolution came about last week when JPMorgan Chase announced the development of the JPM Coin, the first bank-backed cryptocurrency in the U.S.,

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cryptocurrency Payments blockchain Compliance 175

PYMNTS

OCTOBER 7, 2019

Securities and Exchange Commission (SEC) is seeking to “modernize” the regulation of exchange-traded funds (ETFs) in a bid to make those investment vehicles more innovative, and give them quicker entrance to the market. Might that pave the way for the emergence of cryptocurrency ETFs?

cryptocurrency 134

cryptocurrency Bitcoin Regulation Retail 134

PYMNTS

DECEMBER 8, 2020

Identity verification solutions provider Jumio recently announced that it launched a video-based verification solution geared toward FIs, FinTechs, digital wallet providers and cryptocurrency exchanges that are looking to boost their digital onboarding capabilities. About The Tracker .

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Video Report Meeting United States 211

PYMNTS

AUGUST 28, 2019

While our industry is accustomed to cryptocurrencies operating 24/7/365 (like email), fiat currencies have for the most part remained shackled to ‘banking hours’ or ‘business hours.’ “SEN allows our institutional customers to deposit and withdraw U.S. The current policy is a non-policy.

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Policies National cryptocurrency Bitcoin 116

PYMNTS

FEBRUARY 14, 2019

Might this be the validation that at least some cryptocurrency enthusiasts and advocates have been awaiting? 14), CNBC reported that JPMorgan Chase will be rolling out the first cryptocurrency on offer from a major bank based in the United States. CEO Jamie Dimon has also famously dismissed bitcoin as a fraud.

cryptocurrency 140

cryptocurrency blockchain Bitcoin United States 140

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.”

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National cryptocurrency Risk Management Regulation 113

PYMNTS

NOVEMBER 16, 2018

. “Previous GTOs provided valuable data on the purchase of residential real estate by persons implicated or allegedly involved in various illicit enterprises, including foreign corruption, organized crime, fraud, narcotics trafficking and other violations. FinCEN Director Kenneth A.

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Las Vegas San Antonio Report San Diego 134

PYMNTS

OCTOBER 27, 2020

UNICAS, as the joint venture is known, will create the first “crypto-friendly financial institution” with brick-and-mortar buildings and operations. UNICAS will begin operations this December, according to the post. The Monetary Authority of Singapore will reportedly regulate the platform.

Bitcoin 267

Bitcoin Industry blockchain cryptocurrency 267

PYMNTS

SEPTEMBER 15, 2017

Diehards, however, are still crying “ hodl ” — the cryptocurrency community’s rallying cry, inspired by an enthusiastic misspelling of “hold” in a 2013 Reddit thread. Last week, Chinese regulators went one step further and banned ICOs. percent this week. This week, U.K.’s Banned in China.

Bitcoin 177

Bitcoin cryptocurrency blockchain Regulation 177

PYMNTS

JUNE 26, 2020

The CEO of Crypto.com, a Wirecard Card Solutions card issuer, vowed to issue refunds to its customers hours after the United Kingdom’s financial regulator froze German payment processor Wirecard’s cash and assets. “We TenX, the London-based cryptocurrency payment platform, is also a Wirecard issuer.

cryptocurrency 171

cryptocurrency Regulation Cards Course 171

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. System integration provider NEC XON is also looking into biometric KYC for mobile network operators and financial institutions (FIs). How Zillow Co mbats Real Estate Fraud.

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Video Fraud Compliance Security 161