PYMNTS

NOVEMBER 20, 2018

Justice Department is investigating whether bitcoin’s record-breaking performance last year was caused by market manipulation. Late last year, the value of a single bitcoin hit $9,143, climbing nearly six points in just 24 hours for a market cap north of $152 billion. dollar, to help bitcoin reach its record highs. and the U.S.

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Abrigo

MARCH 8, 2024

Bank wire fraud is growing and becoming more complex. Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Takeaway 2 Transnational criminal organizations commit b ank wire transfer fraud and use a variety of techniques to make Americans their victims. Investment scams were #1, with over $4.6

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Perficient

OCTOBER 24, 2024

The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks. Market making eventually transitioned to phone-based systems, with computers providing real-time information, valuations and forecasts for traders.

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Perficient

FEBRUARY 27, 2025

The rise of digital banking, cryptocurrency, blockchain, and AI adoption across banking operations will prompt regulatory bodies to implement clearer frameworks and guidelines to ensure stability and consumer protection. Banks must be prepared to respond to economic fluctuations, market changes, and unexpected events.

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PYMNTS

JANUARY 27, 2021

Guo presented himself to potential investors as an initial coin offering consultant and promised to perform marketing and publicity services. Instead, he embezzled their cash and cryptocurrency, the release stated. Some criminals believe mistakenly that cryptocurrency is beyond the reach of law enforcement,” said U.S.

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PYMNTS

SEPTEMBER 24, 2018

Perhaps more troubling, however, is digital fraud’s projected future. Recently published research noted global fraud losses could top $6 billion by 2021, more than doubling the $3 billion lost worldwide in 2015. As such, businesses are now investing in their security and fraud prevention technology and solutions. All told, U.S.

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PYMNTS

JANUARY 24, 2021

Cryptocurrency-related crime fell in 2020, according to a blog post from Chainalysis. The crimes that ended up driving the change in 2020 were scams and the darknet market, the blog's stats report. In 2019, criminal activity constituted 2.1 percent of all crypto transaction volume, which came out to $21.4 billion in transfers.

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PYMNTS

APRIL 5, 2019

That could be the emerging story when it comes to smartphones and cryptocurrencies, given Samsung’s recent entry in this area of digital payments. But it is perhaps the presence of an in-built cryptocurrency wallet that represents the most significant departure from past devices” when it comes to the Galaxy S10. Better late than never?

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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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Abrigo

JANUARY 4, 2023

Guidance for banks on the lookout for crypto scams and fraud The turbulent cryptocurrency scene should put bankers on high alert. You might also like this whitepaper, "Understanding cryptocurrency." Takeaway 1 Cryptocurrencies are the newest and most popular field in potential financial gains through fraud.

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PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The latest AMC/KYC Tracker examines current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space.

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PYMNTS

FEBRUARY 27, 2019

JPMorgan Chase , aiming to get a bigger piece of the point of sale financing market, announced Wednesday (Feb. Earlier in February, JPMorgan became the first bank to create its own cryptocurrency aimed at settling transactions with clients of its wholesale payments operation.

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PYMNTS

MARCH 11, 2020

This year also kicked off the implementation of the Fifth Anti-Money Laundering Directive (5AMLD), which included among its provisions requirements that cryptocurrency companies be more vigilant in preventing financial crimes from being committed over their platforms. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide.

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PYMNTS

JULY 16, 2020

The the tool will decrease lending risks for holders of digital currency and allow for the rollout of decentralized lending markets that can provide digital currency loans on an unsecured basis, the announcement stated. The bank will also start using the cryptocurrency for Hong Kong Monetary Authority transactions in September.

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PYMNTS

OCTOBER 3, 2017

Cryptocurrencies may have naysayers on Wall Street, but Goldman Sachs isn’t one of them, according to news from The Wall Street Journal. Citing people familiar with the matter, the Wall Street Journal reported that Goldman Sachs is mulling whether to launch a new trading business that is focused on bitcoin and other cryptocurrencies.

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PYMNTS

APRIL 9, 2020

The Chinese Olympic Committee announced that it has received numerous warnings about illegal marketing related to the planned 2021 Tokyo Olympics. China is not the only country dealing with cryptocurrency issues. As reported on Monday (April 6), 11 lawsuits have been filed in the U.S. securities laws.

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PYMNTS

MARCH 30, 2018

With fresh concerns about government regulation of cryptocurrency surfacing, Bitcoin and other digital tokens continued the recent declines in value, erasing $550 billion in value for the global cryptocurrency market since the start of 2018.

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PYMNTS

JANUARY 25, 2021

Officials have until April 1 to divest from any foreign cryptocurrencies, although they won’t be required to report any crypto holdings for the year 2020, the report stated. 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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PYMNTS

MAY 22, 2020

With new microchip tech by Cardano , cryptocurrency users would be able to access payment services without an internet connection. But it could also find a larger use worldwide by giving people without access to the internet the ability to use cryptocurrency — such as African farmers, only 2 percent of whom have smartphones.

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PYMNTS

JANUARY 1, 2021

Starting with some of the most recent changes — and a sign of what’s to come — earlier in the month, the European Commission offered up its initial draft of the Digital Services Act and the Digital Markets Act. The watchdog would be known as the Digital Markets Unit. In the nascent and burgeoning cryptocurrency space, the U.S.

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PYMNTS

MARCH 30, 2018

And, in China, the country’s central bank is planning on cracking down on cryptocurrencies this year, Reuters reported. In addition, the bank plans to research and develop its own cryptocurrency. And a new cryptocurrency called Chia has raised more than $3 million – without an initial coin offering (ICO), NewsBTC reported.

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PYMNTS

JUNE 22, 2020

The Securities and Exchange Commission has filed a lawsuit to freeze the assets of two brothers allegedly engaged in “an offering fraud” and in misappropriating investor funds. Fraud relating to cryptocurrency has been on the rise in recent years as the form has become more mainstream.

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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. billion number is a huge jump from the $1.7

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PYMNTS

JANUARY 23, 2020

Cryptocurrency went from dark-web danger to high-tech investment opportunity seemingly overnight, and, as more consumers seek to use digital currency, more businesses are stepping into the space. The adoption of cryptocurrency among small- and medium-sized businesses (SMBs) may be larger than one might think.

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PYMNTS

FEBRUARY 20, 2020

Steve Chen, the mastermind behind a $147 million gemcoin fraud from 2013 to 2015, pleaded guilty of his crimes of tax evasion and conspiracy to commit wire fraud, reported on Wednesday (Feb. The scheme was a multilevel marketing (MLM) operation that went on for two years, and managed to scam 70,000 victims for a total of $147 million.

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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. PayPal, Mastercard Add 5 EU Countries To Debit Card Offering.

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PYMNTS

AUGUST 2, 2019

Data storage firm Seagate revealed that it has moved its anti-fraud blockchain project with IBM into the pilot stage. In other news, Brazil’s Tax Authority has announced that transactions involving cryptocurrencies must now be reported to the Department of Federal Revenue ( RFB ).

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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., ” Confusion, Doubt Remain.

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PYMNTS

MARCH 23, 2018

To take stock of the cryptocurrency market, take stock? News came Friday that the wild west of cryptocurrencies — where fortunes are made and lost in the blink of an eye, and where regulations are less than regular — might be well-governed by the stock market when it comes to governance. After a fashion.

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PYMNTS

AUGUST 23, 2019

Traki customers will be able to use various cryptocurrencies as payment options for the retailer’s products. Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system,” Zac Cheah, co-founder and CEO of Pundi X, said in a press release. “At

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Abrigo

MARCH 7, 2022

The world of FinCrime is more dynamic than ever, with fraud escalating thanks to an increase in mobile payments precipitated by the pandemic and security concerns rising over the Russian conflict in Ukraine. Cryptocurrency In general, traditional financial institutions have a low risk tolerance for banking cryptocurrency.

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PYMNTS

MAY 20, 2020

Volatile market swings might not have as debilitating an effect on those who spread out their purchases of the cryptocurrency over time and in smaller amounts, Cash App said in a tweet. The news was a surprise for those who remembered CEO Jamie Dimon’s past comments that bitcoin was fraud “worse than tulip bulbs.”.

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PYMNTS

OCTOBER 10, 2019

The cloud storage subscription market is expected to increase at a compound annual growth rate (CAGR) of 24.8 This can be a tall order, though, as they not only have to cater to the currency and payment demands of their customers, but also must ensure that accepting these methods does not expose either party to fraud.

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PYMNTS

OCTOBER 8, 2018

The Commodity Futures Trading Commission (CFTC) reported an increase in enforcement actions in the last fiscal year, partly due to a rise in cryptocurrency cases and spoofing schemes. In addition, the agency won a court case establishing cryptocurrencies as commodities and giving it the ability to regulate those markets.

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Abrigo

FEBRUARY 8, 2024

You may not be in the market for a relationship, but you can help protect others from falling for romance scams. WATCH Takeaway 1 Romance scams are one of the most common forms of fraud schemes seen in the U.S. Report any scam or attempted fraud to the FBI and your financial institution. with reported losses of a staggering $1.3

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PYMNTS

APRIL 26, 2019

Cryptocurrencies have had a rough week of it, evidenced by a double-digit percentage drop in bitcoin, arguably the marquee name in the space. 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.

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PYMNTS

NOVEMBER 26, 2019

In other news, crypto exchange Bitfinex and its sister firm, stablecoin issuer Tether , have been accused again of manipulating the bitcoin markets. 22, says that both companies “monopolized and conspired to monopolize the Bitcoin market.”. Defendants’ control of USD?

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