Bank Innovation

MARCH 22, 2018

EXCLUSIVE— With cryptocurrencies losing their luster in the public — and the regulatory — eye, some in financial services still remain bullish on the currency even as its value falls. The social media/fintech executive made headlines in the crypto world.Read More.

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Abrigo

FEBRUARY 6, 2025

Fraudsters create fake profiles on dating apps and social media platforms, using stolen images and fabricated stories to build relationships with their targets. Scammers can use details shared on dating sites and social media platforms to better target victims.

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PYMNTS

FEBRUARY 2, 2020

Japanese social media network Line can begin trading its own digital currency among its 700 million users beginning in April 2020. As a result, Line began its own exchange, BITBOX, that enabled Link currency users in areas challenged by regulations to engage in trades with the cryptocurrency.

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Abrigo

DECEMBER 10, 2024

Romance scams: These scams involve fraudsters building online relationships with elderly victims, often through social media or dating apps. This newer form of cryptocurrency fraud targets older adults by luring them into fake investment schemes, sometimes taking months to coerce as much money from the victim as possible.

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PYMNTS

JANUARY 18, 2022

18) that it plans to regulate cryptocurrency advertising like other financial products and ensure that promotions are “fair, clear and not misleading,” according to a Bloomberg report. That includes a ban on advertising their “services in public areas in Singapore or through any other media directed at the general public in Singapore.”.

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Bank Innovation

JUNE 27, 2018

PREMIUM –Facebook has changed its stance on cryptocurrency ads by reversing a ban it had placed on the ads only five months ago. The news didn't do much for bitcoin, the most well known cryptocurrency, which is trading today a little above $6,000.

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PYMNTS

MAY 3, 2020

Block.one, which is behind the EOSIO (EOS) protocol, now has a patent for a blockchain-based bidding system for promotional exposure for social media, according to Cointelegraph. The system could possibly monetize every single social media post on a given network for operators as well as content creators.

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PYMNTS

JANUARY 1, 2021

As reported in this space , the DSA and DMA cover online marketplaces, social media and other platforms. In the nascent and burgeoning cryptocurrency space, the U.S. The communications can now include email and text messages (in unlimited quantity and even across social media direct messages), according to the CFPB.

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PYMNTS

FEBRUARY 28, 2020

The BoE has warned about Facebook’s proposed cryptocurrency Libra , as well as other digital coins, and how they must be carefully considered before being approved. Many central banks around the globe are wrestling with the implications of digital currencies and how they will affect a country’s financial health.

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PYMNTS

NOVEMBER 19, 2020

“If history is any guide, a co-evolutionary path is likely, with an eco-system of diverse and competing payments media and systems emerging, some wholesale, others retail, some private, others public,” he said. By examining past email exchanges, Freeman would identify cryptocurrencies in the victims’ possession.

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Abrigo

MARCH 12, 2025

They frequently request payments through wire transfers, cryptocurrency, or gift cardsmethods that are difficult to trace and recover. In the aftermath of the devastating wildfires in California, scam artists exploited the situation by posing as legitimate charities soliciting relief donations through social media, emails, and phone calls.

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PYMNTS

SEPTEMBER 5, 2019

In China, the central bank will debut a state-backed cryptocurrency that initially will be issued to seven institutions in that country, Forbes reported this week. A separate source told the publication that an eighth firm, unidentified, might also be tapped to receive the cryptocurrency, which could debut in time for China’s Nov.

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PYMNTS

JULY 15, 2019

India is reportedly considering a ban on cryptocurrencies. According to Cointelegraph , an unverified document published by tech lawyer Varun Sethi has been making the rounds on social media, showcasing a draft bill entitled “Banning of Cryptocurrency & Regulation of Official Digital Currencies.”.

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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

MARCH 1, 2019

Facebook , Telegram and Signal are looking to launch their own cryptocurrencies that will allow users to send money internationally on their messaging systems. The social media giant has even spoken with crypto exchanges about selling the coin to consumers, telling them that it hopes to have a product out in the first half of the year.

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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.

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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. DOWNLOAD WHITEPAPER.

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PYMNTS

APRIL 21, 2020

The scams often impersonate legitimate companies and have fake social media accounts. Some other scams tend to involve blackmail situations where bitcoin or other cryptocurrency is extorted through threats. Crypto-related scams have become common in recent years as digital currency has grown in popularity.

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PYMNTS

JUNE 6, 2019

Facebook is set to announce its cryptocurrency later this month, and will reportedly even allow the project’s employees to get paid in the new currency. In addition, the social media giant started speaking to potential “nodes” to help manage the crypto — and might charge them $10 million for that privilege.

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PYMNTS

APRIL 14, 2019

The National Assembly of France has voted to allow local insurance companies to include cryptocurrencies in life insurance contracts. With these two provisions, it is written in black and white that SPFs can invest in cryptocurrencies like bitcoin,” said Simmons & Simmons attorney Emilien Bernard-Alzias, according to CCN.

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PYMNTS

DECEMBER 18, 2018

According to a report in Reuters , citing a blog post by Twitter , the social media company said it discovered the traffic to a customer support forum while looking into a security hole that makes user data, such as phone country codes, accessible to hackers.

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Payments Source

MAY 17, 2021

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PYMNTS

JULY 16, 2019

Treasury Secretary Steven Mnuchin believes that Facebook’s proposed cryptocurrency could pose as a national security threat. Mnuchin added that the Treasury has informed Facebook, as well as other cryptocurrency users, that they need to implement the same anti-money-laundering and counter-terrorism safeguards as other financial institutions.

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PYMNTS

OCTOBER 13, 2020

And, while terrorist use of cryptocurrency is still evolving, certain terrorist groups have solicited cryptocurrency donations running into the millions of dollars via online social media campaigns.”. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year.

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PYMNTS

JANUARY 1, 2021

Indian FinTech Cashaa and the country's United Multistate Credit Cooperative Society teamed up to launch what they say is the world's first cryptocurrency bank branch through a joint-venture bank called Unicas, according to a release. The operation also will provide traditional banking services, according to the backers.

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PYMNTS

NOVEMBER 12, 2018

According to The Next Web , hours after moving all raised funds out of its wallet, the company shut down its website, deleted its social media accounts and kicked all users off its chat group. Over the past two years, exit scammers have stolen more than $100 million worth of cryptocurrency.

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PYMNTS

JUNE 17, 2019

The coin was buoyed by the news that Facebook will potentially launch a cryptocurrency of its own. Bitcoin hasn’t been as high as $9,000 since May of 2018, and the cryptocurrency is now up 14 percent since January. There are reports that say Facebook’s cryptocurrency launch could happen as soon as Tuesday (June 18).

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PYMNTS

SEPTEMBER 30, 2019

A recent study about how people respond to scammers shows that consumers are more likely to become victims on social media and online marketplaces than over the phone, The Wall Street Journal reported on Sunday (Sept. Researchers found that the majority of consumers fell prey to scammers on legitimate websites and social media. .

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PYMNTS

JANUARY 5, 2018

Add Mark Zuckerberg to the growing list of people interested in cryptocurrency. According to Bloomberg , Facebook’s CEO mentioned cryptocurrencies in a Jan. In planning for the social media giant’s future, the hot topic of cryptocurrency came up in Zuckerberg’s manifesto.

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PYMNTS

JULY 6, 2018

The news comes as Facebook’s announcement in May that it was creating a blockchain unit led by one of its most senior executives, David Marcus, is raising speculation among those in the blockchain world — because the social media company said little in public about what the group will be doing.

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PYMNTS

MAY 24, 2019

According to the report , the social media giant is looking to begin testing its own cryptocurrency, “which has been referred to internally as GlobalCoin, by the end of this year.” That talk reportedly involved discussion of “the opportunities and risks involved” in launching the cryptocurrency. Social gaming.

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PYMNTS

JUNE 25, 2019

The House Financial Services Committee has scheduled hearings about the proposed merger between BB&T and SunTrust Banks, as well as the Facebook-planned cryptocurrency Libra. According to American Banker , the committee will meet July 17 to examine Facebook’s proposed cryptocurrency and its impact on consumers, investors, and the U.S.

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PYMNTS

SEPTEMBER 11, 2019

The Libra Association is petitioning the Swiss Financial Market Supervisory Authority ( FINMA ) for a Swiss payment system license for its planned Libra cryptocurrency, Reuters reported on Wednesday (Sept. The social media giant wants to move forward and launch Libra in June despite global questioning and hesitation.

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PYMNTS

JUNE 24, 2019

The think pieces have come in waves, as have the reactions from analysts, cryptocurrency enthusiasts and regulators — and the world waits to see exactly what Facebook and its cadre of payments and commerce players design. The news about Libra has been out for about a week. There will be perceptual hurdles to clear, and regulators to convince.

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PYMNTS

JANUARY 29, 2020

Facebook reported a 51 percent spike in its costs and expenses for the full year 2019 — that increase coming as the social media platform faces more questions from regulators and policymakers about its present and planned endeavors. 29), and reported that total costs and expenses hit some $46.71 Challenges to Come. 31, stood at 2.5

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PYMNTS

APRIL 5, 2019

Most of the fraudulent sellers asked for payment in cryptocurrency form, while others used a “middleman” to serve as a go-between between the buyer and the seller of the information, who then took a cut of the profits. And when a person joined one of the groups, Facebook’s algorithms would then suggest similar groups.

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PYMNTS

FEBRUARY 18, 2019

Although it was originally developed for bitcoin, the network can also be developed for use with other cryptocurrencies. Abril said he wants to eventually add support on other social media platforms. The Lightning Network is a way to make bitcoin transfers and transactions easy and manageable at a large scale.

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