PYMNTS

OCTOBER 21, 2019

Corporate fraud comes in many colors, but for many businesses, the most unexpected threat is the one looming from within company walls. This week, IBM announced a collaboration with Raw Seafoods to develop a blockchain solution to address supply chain fraud in the seafood industry, including cases of incomplete documentation and mislabeling.

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PYMNTS

AUGUST 29, 2019

The National Revenue Agency (NRA) in Bulgaria was fined 5.1 Reuters is reporting that the tax agency said it was going to appeal the decision. Two senior IT specialists were fired, and no public report has been released in terms of the agency’s security systems. million levs ($2.9 They deny that they did anything wrong.

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Taxes Data Study System 102

Abrigo

JUNE 8, 2022

Takeaway 3 Anti-Money Laundering and Fraud monitoring software can help combat this serious crime. World Elder Abuse Awareness Day is an international United Nations observance day commemorated each June 15 by most countries around the globe. Reports of abuse in this demographic is one of the most common in the United States.

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Training Fraud National Resources 195

PYMNTS

APRIL 18, 2016

In what might be a blow to taxpayers seeking help on the fly, the Internal Revenue Service is mulling the idea of disallowing walk-in visits by people seeking help on their taxes or those simply looking to make payments in person, WTOP reported on Friday (April 15). This is a pilot program under consideration, said Olson.

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Taxes Payments Fraud National 100

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. In the U.S., Phillips, Jr. Canada’s Crypto Case.

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PYMNTS

JUNE 19, 2018

Kenya’s biggest mobile phone operator, Safaricom , is against a proposed tax rise on mobile phone-based cash transfers. But Safaricom’s CFO Sateesh Kamath said the tax hike would only serve to discourage the drive towards modern payments systems. The proposed tax increases also included a new “Robin Hood” tax of 0.05

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PYMNTS

JANUARY 25, 2021

Russia’s Ministry of Labor has banned federal and local governmental officials — and their spouses and underage children — from holding digital currencies, CoinDesk reported. In other news, in an attack on Indian cryptocurrency exchange BuyUCoin , hacker group ShinyHunters leaked the private information of over 325,000 users, Inc42 reported.

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Bitcoin cryptocurrency Data National 261

PYMNTS

DECEMBER 23, 2019

Egypt is readying an electronic invoicing mandate for consumers to pay their taxes, an initiative that reports said will eventually expand to standardize invoicing in government procurement processes. Reports in Zawya on Monday (Dec. Reports in Zawya on Monday (Dec. That effort also aims to go live in 2020, reports said.

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Taxes Conference System Mobile 130

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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US Cyber Security Security National 227

South State Correspondent

MARCH 21, 2023

ERC gave eligible businesses a refundable tax credit of up to 50% of $10,000 for qualified wages paid per employee. Community banks can now white label this same product to onboard and process employee retention tax credits for the bank’s small business customers AND prospects. In 2020, the U.S.

Taxes 195

Taxes Community Bank Community Operations 195

Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. According to the National Association of Realtors, there were more than 106,000 real estate brokerage firms in the United States. In 2017, over 5.51 In the GTO, FinCEN began requiring U.S.

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El Paso Miami United States New York City 195

PYMNTS

JUNE 14, 2018

A new report from The National Cybersecurity Society (NCSS) published this week warns that business identity theft is an emerging threat for entrepreneurs and executives. ” report examines how this crime occurs, and what business owners can do to protect themselves and their companies.

Fraud 109

Fraud Taxes Resources National 109

PYMNTS

AUGUST 17, 2020

CNN reported Canadian officials detected as many as 300,000 attempted attacks to access accounts. It collects taxes, administers tax law and policy and oversees charities. Last month, a national survey found more than 80 percent of U.S. The CRA plays multiple roles. 19), officials told CNN.

Cyber Security 163

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PYMNTS

MAY 12, 2016

office were facilitating tax evasion and money laundering. But as the FT’s reports showed, U.K. regulators didn’t seem inclined to take any real steps toward looking into the claims about BSI’s role in tax evasion at the time. A former employee at Swiss bank BSI, who worked at the bank’s U.K.

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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.”. Coin Telegraph reported that Token Analyst found that almost 1.2 The umbrella company running Bitfinex and Tether , iFinex, has been hit with a $1 trillion class-action lawsuit. Robertson controlled.”.

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Bitcoin Taxes cryptocurrency Innovation 181

PYMNTS

JUNE 16, 2020

The European Union (EU) has launched antitrust investigations into potential violations by Apple of competition laws in its Apple Pay service and App Store, The Wall Street Journal reported. billion) in alleged tax benefits from Apple, to enforce EU rules against illegal state aid. The EU’s investigative division has been busy.

Apple 133

Apple eBook Taxes Fraud 133

FICO

MAY 25, 2017

million digital records exposed the dark deeds of dirty money and tax evasion and burst the bubble of pretense that the world is effective at dealing with corruption. One in five banks in Asia Pacific say that they expect tax evasion to increase 100 to 500 percent over last year’s levels according to a recent poll by FICO.

Taxes 40

Taxes Survey Compliance Regional 40

Jeff For Banks

NOVEMBER 24, 2019

The bank, First National Bank of Keystone, was $1.1 billion in assets, had 87 full-time equivalent employees, and accounted for two-thirds of the town's tax revenue. And so went the birth of First National Bank of Keystone's meteoric rise. In 1998, its last full reporting year, it had net income of $69 million.

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National West Virginia Virginia Pennsylvania 78

PYMNTS

DECEMBER 20, 2019

The year-end report from delivery giant DoorDash told us that burrito bowls, sushi and quesadillas were among America’s most ordered items, depending on one’s location. As city councils all over the nation get a hankering for MOA tax revenue, the category just keeps growing and evolving. Chargebacks Bite. MOA is a Goer.

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Mobile Fraud New York City Metro 131

PYMNTS

NOVEMBER 21, 2018

Reports this week in South African publication the Daily Maverick said think tank Global Financial Integrity (GFI) has calculated the South African government lost about $7.4 A company may overstate the value of goods they import, paying that invoice to move excess funds overseas or avoid VAT or customs taxes. billion, reports said.

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Taxes National Report Data 122

PYMNTS

NOVEMBER 2, 2016

Courthouse News Service reported that the San Diego DA’s office has helped take down an international fraud scheme that targeted seniors. They impersonated IRS or immigration officials and threatened unsuspecting citizens with jail time, fines or deportation unless their targets paid phony taxes or penalties.

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San Diego Taxes Fraud National 100

PYMNTS

MAY 16, 2019

Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. One big reason, according to the report? No matter the reason or method, it seems fraud prevention for retailers continues to get more challenging.

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Retail Online Cards Data 218

PYMNTS

AUGUST 6, 2019

With government agencies working to combat tax evasion and fraud, eInvoice mandates mean a reduced risk of invoice fraud and greater visibility into trade and transactions. on the benefits of an eInvoicing mandate, noting that it would address the nation’s current tax challenges. On Monday (Aug.

Regional 108

Regional Taxes System Guidelines 108

PYMNTS

DECEMBER 20, 2017

Reuters, citing the FATF, reported that in addition to failing to punish money launderers, Mexico’s tax authorities aren’t regulating money from real estate and luxury goods firms, which are just a front for drug operations. The report is slated to be published in early January. That action was prompted by a U.S.

Taxes 100

Taxes Regulation National Report 100

PYMNTS

JULY 22, 2019

KeyBank’s Costly Payroll Fraud Problem . Regional banking force KeyCorp disclosed a massive fraud that could potentially cost as much as $90 million – according to reporting out of CNBC last week. A loss for KeyCorp – but by far not the weeks’ biggest, or most explosive case of fraud. Starting with.

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Data Security Fraud Indiana 100

PYMNTS

JUNE 13, 2019

It’s undeniably advantageous to the world economy, with a recent study finding that national digital ID systems could induce GDP growth of up to 13 percent. Experiencing such gains comes with risks, however, as digital IDs have presented new and underexplored avenues for fraud. More than 4.5

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Security blockchain San Francisco United States 129

PYMNTS

NOVEMBER 9, 2016

Many were surprised when Prime Minister of India Narendra Modi announced the discontinuation of 500- and 1000-rupee notes on Tuesday in an attempt to curb fraud, corruption and illegal tax evasion, and illegal cash holdings. The nation of 1.25 Citizens will have from Nov. 10 through Dec.

ATM 143

ATM Mobile National Taxes 143

TheGuardian

OCTOBER 6, 2020

National Audit Office warns of £26bn taxpayer loss on bounce-back loan scheme Coronavirus – latest updates See all our coronavirus coverage Taxpayers stand to lose up to £26bn on the government’s most popular Covid-19 business loan scheme because of fraud or an inability to repay the money, Whitehall’s spending watchdog has warned.

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National Fraud Report Taxes 73

PYMNTS

MAY 8, 2018

Walmart is changing its opioid policy following recommendations from the Centers for Disease Control and Prevention (CDC), limiting the length of the opioid prescriptions it will fill and only accepting e-prescriptions starting in 2020, according to CNN Money reports.

Tennessee 101

Tennessee Policies Retail Fraud 101

Abrigo

MARCH 24, 2023

Do you offer services to those without a Tax ID Number (TIN)? Does the credit union file many suspicious activity reports (SARs) annually compared to the other credit unions in the same geographical area? Do you allow customers or members to send outgoing international wires? If so, how is this monitored? Mexico border?

Fraud 195

Fraud Compliance Examples Analysis 195

PYMNTS

APRIL 30, 2019

Danske Bank ignored warnings from Russia’s Central Bank about money laundering and suspicious transactions worth billions through Danske’s Estonian branch, Reuters reported. The warnings were sent in 2007 and 2013, and the information stems from the outcome of an investigation by the European Banking Authority (EBA).

Virgin Islands 129

Virgin Islands Taxes National Regulation 129

PYMNTS

APRIL 6, 2017

Criminals will counterfeit or pirate almost any product as long there is profit to be made,” the report noted. The report notes the most dangerous products that show up as fakes in the market are actually the least expensive, particularly the foodstuffs. Extra virgin olive oil is one of the most widely counterfeited food items.”.

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Taxes Industry US National 116

PYMNTS

APRIL 18, 2017

Cross-border B2B payments company Tipalti has new evidence that companies are more global than ever as its new report, with research conducted by PayStream Advisors, finds that a majority of companies today are conducting cross-border payments. Both wire and ACH do a fairly good job at protecting a business against payment fraud.

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Company Compliance Taxes Fraud 102

PYMNTS

FEBRUARY 21, 2018

A regional government in Russia is now working with state-backed VEB, reports in CoinDesk said this week, as authorities explore how to use blockchain “to improve the quality of management decisions.”. Local officials are hoping to use blockchain to improve public services and boost transparency.

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blockchain Los Angeles Regulation Oregon 130

PYMNTS

DECEMBER 12, 2017

Booth has been arrested twice for retail return fraud related to gift cards and is now in recovery from heroin and oxycodone addiction at Gateway with Smith. Retail return losses total between $9 billion and $15 billion per year, according to a 2017 survey by the National Retail Federation. Kristin Booth, 23, agreed with her.

Retail 105

Retail Fraud Cards Florida 105

PYMNTS

JANUARY 3, 2017

Amid several investigations by France into how several African leaders acquired their wealth, the vice president of Equatorial Guinea, Teodorin Obiang, is now on trial for money laundering and corruption, Forbes reports. Obiang is the son of the country’s president, Teodoro Obiang Nguema.

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Taxes National Report Fraud 145

PYMNTS

MAY 4, 2016

Payroll giant ADP has suffered a security breach in which hackers have stolen tax and salary information, according to a report from Krebs on Security. This made it easier for fraudsters to gain access to the information, according to the report. This includes U.S. Bank posting an authentication code on an unsecured webpage.

Taxes 100

Taxes Security Data Resources 100