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Bitcoin Daily: SEC Freezes Crypto Firm?s Assets, Alleging It Stole $12M From Investors; Hong Kong: 39 Pct Of New FinTechs There Are Blockchain Firms; Coinbase Eyes Selling Blockchain Analytics To IRS, DEA

PYMNTS

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 defendant in the case is Utah resident Daniel F. Putnam, whose businesses — MMT Distributions and R&D Global — and associates — Angel A.

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Report: Digital ID’s Role In Boosting Trust In The Sharing Economy

PYMNTS

They must reassure customers they are safe from viral contagion in sharing economy spaces while ensuring their personal data is secure from rising incidents of fraud. Payments providers are seeking more secure and compliant ways of onboarding and authenticating customers to help deter online fraud.

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BNPL Fraud — When "Buy Now, Pay Later" Backfires

FICO

In this post, I’ll provide a quick overview of how BNPL works, and share my thoughts on how BNPL fraud can occur and where the financial liability lays. . With BPNL, fraud rates may rise because merchants may loosen their fraud countermeasures for the sake of acquiring the sale. Strategies and Tools for Fighting BNPL Fraud.

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CFPB Rolls Out Innovation Regulator Network

PYMNTS

The network will also advance “regulatory certainty” for innovators and stay abreast of changes in the market while helping reduce fraud, discrimination and deception. Inaugural members of ACFIN include state attorneys general of Alabama, Arizona, Georgia, Indiana, South Carolina, Tennessee and Utah.

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Funding Lands T&E Firm TripActions $4B Valuation

PYMNTS

MainVest did not reveal details about what it plans to do with the investment, though noted it continues to gain traction in the SMB investment market by allowing non-accredited investors to participate in crowdfunding for small businesses in their own communities. This week, the company revealed a $24 million investment from Oak HC/FT.

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Data Dive, Supersize Edition: Warby Parker, Whole Foods And WhatsApp

PYMNTS

“I think it’s safe to say it’s pretty important for us to launch payments in India,” said one person close to the company of the current stalemate of WhatsApp’s delayed entry into the market. Analysts believe WhatsApp’s entrance could be a major disruptor in the up-and-coming market and a major problem for India-based Paytm.

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Data privacy: How to keep customer data safe

Independent Banker

Other states have enacted similar data privacy laws since the California Consumer Privacy Act came into effect, including Utah, Colorado, Virginia and Connecticut. Monitor credit reports and bank account activity to timely identify and prevent fraud and identity theft. Balancing marketing personalization with data privacy.

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