PYMNTS
FEBRUARY 14, 2020
An online scam targeted $4 million in retirement funds from at least four Puerto Rico agencies, according to reports on Thursday (Feb. Agencies affected include the Puerto Rico Industrial Development Co. and the Puerto Rico Tourism Co. The finance director at the Puerto Rico Industrial Development Co.
PYMNTS
FEBRUARY 13, 2020
The government of Puerto Rico lost $2.6 The department has faced strong criticism from the people of Puerto Rico about the incident, as the country has been dealing with a recession for more than a decade, and some government services have been cut as a result. “I The department is actively trying to get the money back.
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PYMNTS
MAY 5, 2020
A little-known Puerto Rican company, Bitcoin Manipulation Abatement (BMA), has filed a lawsuit against Ripple , accusing the blockchain firm of breaking rules when it ran a recent securities sale, CoinDesk reported. billion XRP sale with the relevant authorities. The firm also wants the court to award “compensatory damages.”.
PYMNTS
OCTOBER 3, 2016
In 2010, Westernbank Puerto Rico, the country’s second-largest commercial bank, took a loss of more than $140 million on loans to a Florida businessman, 53-year-old Jack Kachkar, which contributed to its failure, according to the FDIC’s inspector general. to borrow tens of millions of dollars in credit from Westernbank Puerto Rico.
PYMNTS
FEBRUARY 24, 2020
According to the latest research from Bottomline Technologies, businesses said the fraud threat is on the rise. Meanwhile, Forbes reported separate analysis from North Carolina State University warning that as pressure mounts for chief financial officers to hit their financial targets, they’re less likely to report fraud.
PYMNTS
MAY 15, 2017
and Puerto Rico had their payment card information compromised. While the information hacked included names, account numbers, expiration dates and verification codes, Brooks Brothers confirmed sensitive information like social security numbers and addresses weren’t compromised. This past week, the U.S.-based
PYMNTS
APRIL 23, 2019
The market has the potential to expand even further, too, as Puerto Rico is reportedly considering legalization. . This means fantasy sports platforms must enact robust anti-money laundering (AML), KYC checks and other fraud monitoring services. Sports and fantasy sports gambling operations are a big deal in the U.S.,
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