PYMNTS

JULY 8, 2020

Adding to the series of legal difficulties for Wirecard , the Justice Department is looking to see if the German payments company had an essential part in a purported $100 million bank fraud case involving a digital cannabis firm, The Wall Street Journal reported, citing unnamed sources. The FBI’s New York field office and the U.S.

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PYMNTS

APRIL 10, 2017

New York’s financial regulator had a bold claim to offer over the weekend — she claimed that other states should use New York’s sweeping cybersecurity rules as a model for how insurers must protect their networks from hackers. New York also has clear guidelines for when and how firms have to report when there are hacks.

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PYMNTS

FEBRUARY 21, 2020

New York Attorney General Letitia James announced plans to sue New York City for allegedly fraudulent practices by its Taxi and Limousine Commission (TLC), according to reports on Thursday (Feb. A taxicab medallion is a numbered plate required to operate a yellow cab.

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PYMNTS

FEBRUARY 21, 2018

Montroll operated an unregistered online securities exchange and defrauded its users by misappropriating their bitcoins. We allege that BitFunder operated unlawfully as an unregistered securities exchange,” Marc Berger, director of the SEC’s New York regional office, said in the release.

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PYMNTS

MAY 10, 2019

Following a claim of fraud by a short seller, shares in eCommerce firm Jumia fell by almost 25 percent by midday New York time on Friday (May 10) and traded at $20.30 The company filed for an initial public offering (IPO) on the New York Stock Exchange in March. at one point, the Financial Times reported.

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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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PYMNTS

JUNE 14, 2020

Three merchant cash advance companies are facing a lawsuit from New York Attorney General Letitia James over reportedly practicing illicit measures when loaning money to clients, according to a press release. The three companies charged are Richmond Capital Group, Ram Capital Funding and Viceroy Capital Funding.

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PYMNTS

FEBRUARY 21, 2020

In today’s top payments news, the New York attorney general accused the Taxi and Limousine Commission of drastically inflating the price of taxi medallions, and Apple is debating letting users change their default apps. NYC Taxi Commission Accused Of $810 Million Fraud. Apple Considers Letting Users Change Default Apps.

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PYMNTS

JANUARY 29, 2019

prosecutors have filed criminal charges against China’s largest technology company, accusing it of stealing trade secrets and committing bank fraud. In a 13-count indictment filed in Brooklyn, New York, the U.S. a Hong Kong-registered company with operations in Iran. 1 in Canada on fraud allegations.

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PYMNTS

JUNE 13, 2019

Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they’re least expected. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud.

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PYMNTS

APRIL 29, 2019

As part of the agreement, the company must pay restitution to shareholders, as well as implement internal controls and cooperate with the investigations of the former executives allegedly involved in the fraud. Celadon reported $856 million in revenue in 2017 in truckload operations, making it the 13th largest operator in the sector.

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Perficient

MAY 15, 2023

Risk & Fraud Prevention. Want to learn more about financial services industry-specific considerations for improving operational efficiency through data optimization? Venues in New York City, and it is free for those employed by financial services institutions to attend. market trend data, economic data, etc.)

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PYMNTS

DECEMBER 7, 2018

7), Canadian prosecutors officially accused Huawei Chief Financial Officer Meng Wanzhou of sanctions fraud. The New York Times reported that Ms. The presentation appeared to claim that Huawei operated in Iran in compliance with the sanctions. Meng’s presentation was an act of fraud. On Friday (Dec.

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Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. Mr. Herndon named the Federal Deposit Insurance Corporation (“FDIC”) as receiver, allowing the FDIC to take control of the Heartland Tri-State’s operations. billion in deposits), the failure still poses lessons for bank executives.

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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. For payments fraud, the land Down Under seems fertile ground, too. In the U.S.,

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PYMNTS

DECEMBER 2, 2019

In recent announcements, the numbers have been supporting the argument that cryptos are becoming a favored avenue of theft and fraud. Consider the fact that, as estimated by CipherTrace’s third-quarter report for 2019, the total volume of fraud tied to crypto shows losses in the range of $4.4 billion in fraud and theft seen last year.

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PYMNTS

SEPTEMBER 20, 2019

Plot Thickens as FBI Probes Alleged MyPayrollHR Fraud. News came at the end of the week that the FBI and the New York State Department of Labor are investigating allegations that MyPayrollHR , which abruptly shut down earlier in the month, diverted millions of dollars into its coffers that should have gone to employees.

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PYMNTS

MAY 1, 2019

Bitfinex is the cryptocurrency exchange that last week was swept up in an investigation over a coverup alleged by the New York State Attorney General to have involved as much as $850 million in losses. To recap, the AG accused Tether (of the Tether stablecoin) and the Bitfinex operator of possibly defrauding crypto investors.

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PYMNTS

AUGUST 12, 2020

As part of its ongoing efforts to stop coronavirus-related fraud, the U.S. The enforcement action alleged Vietnam residents Thu Phan Dinh, Tran Khanh and Nguyen Duy Toan engaged in wire fraud to profit from the pandemic. Federal law enforcement officers alleged thousands of buyers in every U.S.

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Insights on Business

APRIL 2, 2019

Customers increasingly demand new payment options like real-time payments and P2P payments, underpinned by security and trust. The costs of running payments operations, complying with a myriad of regulations and enforcing payments standards are increasing. IBM Watson Financial Services Summit for Payments, May 1 st , New York City.

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PYMNTS

OCTOBER 26, 2017

In New York, a worker at Chevron Phillips Chemical Co. And in New Mexico, two Santa Fe government employees were placed on leave following a report that fraud is running rampant in their department. Internal p-card fraud doesn’t discriminate against small and large companies either, he said. “The

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FICO

JULY 1, 2022

Global Fraud Trends: What’s Happening and What’s Next? Here are the highlights from the fraud trends breakout session at FICO World 2022 with a panel of fraud professionals from Brazil, Turkey and North America. A lot has changed since the last pre-pandemic FICO World conference, held in November 2019 in New York City.

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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. Crime related to the coronavirus has skyrocketed in recent weeks as the virus has been the top news story around the world.

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PYMNTS

SEPTEMBER 27, 2019

Western Union CEO Hikmet Ersek told Karen Webster that real time means receivers will have funds available to spend within minutes, enabling new real-time, cross-border, cross-currency payments capabilities for C2C, B2C and B2B use cases. MyPayrollHR Founder Faces $70M Fraud Charge.

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Abrigo

MARCH 22, 2023

The appearance of an individual or company operating as a “broker” between other companies. A business with significant funds movement to/from or between higher risk geographies, including domestic areas with geographical risks, such as south Florida, southwestern border states, and New York/New Jersey. Account activity or a business operation (..)

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PYMNTS

SEPTEMBER 23, 2020

Even New York City has now greenlit indoor dining, but the great restaurant sector reset of 2020 is far from finished. When the seesaw stops and COVID cools down, mobile order-ahead (MOA) apps are poised to control a much larger swath of food commerce, with new complexities attending that growth. percent to 45.6

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PYMNTS

JANUARY 12, 2021

Police told the New York Post that the suspects ran out of the store and jumped into waiting cars, making off with bags priced between $1,850 and $2,300 apiece. He said the problem also includes things like complex returns fraud, cyber frauds, near-perfect counterfeiting and more. Matas sees the current wave of U.S.

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PYMNTS

MARCH 9, 2020

A French hospital, in one case, noted that nearly 2,000 surgical masks were removed from its main operating room, while a trauma doctor reportedly took 12 boxes of masks from a storage room at a hospital in Spain. Grant Shapps, U.K.

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PYMNTS

JANUARY 14, 2021

Many companies took various facets of their operations digital, too, including their payments operations and other processes that relied on staff coming into the office. The pandemic has forced companies to make myriad changes to their business operations. Around The Digital Identity Space.

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PYMNTS

JULY 21, 2020

Once worth $28 billion before it collapsed last month, Wirecard has contracted with Alix Partners, the New York-based forensic accounting firm, to explore the two missing deposits in Philippines banks totaling more than $2 billion uncovered by its auditor Ernst & Young and nearly $4 billion it owes creditors.

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PYMNTS

APRIL 26, 2019

The slide comes as the New York state attorney general has accused Bitfinex , a cryptocurrency exchange, of covering up missing funds — $850 million worth — through illegal transactions. Cryptocurrencies have had a rough week of it, evidenced by a double-digit percentage drop in bitcoin, arguably the marquee name in the space.

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PYMNTS

APRIL 10, 2019

The New York Department of Financial Services has denied a virtual currency license for Bittrex, an American digital asset exchange. Bittrex was ordered to stop operating in New York and close shop within 60 days. Bittrex was ordered to stop operating in New York and close shop within 60 days.

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Bitcoin New York cryptocurrency United States 116

PYMNTS

JULY 6, 2020

Wirecard continues to dominate the headlines in the realm of corporate fraud thanks to $2 billion missing from the company’s books, but it’s not the only company at the center of questionable activity. 34 percent of furloughed employees were asked to commit furlough fraud , according to a survey from U.K.-based

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PYMNTS

AUGUST 21, 2020

In today’s top news, $50 billion worth of cryptocurrency was transferred out of China, and Uber Health and NimbleRx have teamed on prescription delivery. Plus, Amazon has put some hiring on hold for its Alexa operation. Amazon has put some hiring on hold in its Alexa operation amid the pandemic.

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PYMNTS

JANUARY 27, 2020

The tests involved the Amazon-owned grocery chain’s New York employees, along with custom-fitted vending machines. As per the New York Post, the technology was set to make a wider appearance before too long. Amazon Plans.

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Abrigo

APRIL 6, 2022

For example, the New York Department of Financial Services requires institutions that it regulates to report certain cybersecurity events to the agency within 72 hours. This is shorter than the reporting deadline established by other regulators, such as the New York Department of Financial Services.

Security 195

Security Regulation District of Columbia United States 195

PYMNTS

FEBRUARY 22, 2019

The OCC identified the deficiencies in the bank’s branches in New York, Los Angeles and Chicago. It also oversees OFAC sanctions compliance and anti-corruption compliance across all of MUFG Bank’s worldwide operations. From a bank’s perspective, we need to process these papers manually, including checking for fraud, etc.”

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