VISTA InfoSec

JUNE 21, 2023

However, due to the nature of cybercriminal activity, it is crucial to react quickly and correctly to contain the incident, minimize any further damages, and protect your business from legal troubles. Be sure to familiarize yourself with state laws, which your legal counsel will be able to help with. Secret Service offices.

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130

Fintech News

FEBRUARY 21, 2024

The Indonesian Financial Services Authority (OJK) is closely monitoring Investree , a fintech peer-to-peer lending platform, following public reports of potential operational and consumer protection violations. If violations are proven, the OJK said that it will take necessary actions, potentially collaborating with law enforcement officials.

Law Enforcement 97

Law Enforcement Audit Authorization Consumer Protection 97

The Fintech Times

APRIL 3, 2024

The Monetary Authority of Singapore (MAS) has introduced COSMIC, a digital platform aimed at bolstering the global financial system’s defences against money laundering (ML), terrorism financing (TF), and proliferation financing (PF).

Financial Crimes 59

Financial Crimes Crime Money Laundering Law Enforcement 59

VISTA InfoSec

JULY 17, 2024

Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must. Each of these sets its own rules on handling personal information safely and legally. You need to know these laws well because they affect how you manage cybersecurity when dealing with multiple languages.

Cybersecurity 238

Cybersecurity Compliance Encryption Best Practices 238

Fintech News

JULY 1, 2024

Security, intelligence, law enforcement, supervisory, and regulatory agencies work together to detect and respond to both existing and emerging threats. This strategy involves coordinated risk identification, robust legal frameworks, strict regulatory regimes, decisive enforcement actions, and international cooperation.

Risk Assessment 95

Risk Assessment Assessments Risk Finance 95

Fintech News

JULY 17, 2024

And contrasting with the non-crypto native space, the Hong Kong Monetary Authority (HKMA) just fined DBS Bank (Hong Kong) Limited, the HK subsidiary of DBS , a HK$10 million penalty for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The United Arab Emirates has amended Federal Decree-Law No. (20)

Money Laundering 96

Money Laundering Law Enforcement AML Non-Bank 96

PYMNTS

MARCH 1, 2020

The startup reportedly took advantage of its developer account so it could distribute its software to law enforcement customers and others. . The company is also looking at additional lawsuits and legal challenges from privacy advocates, CNET reported. Clearview provides its service to law enforcement and security professionals.

Law Enforcement 60

Law Enforcement AI Blocks Laws 60

VISTA InfoSec

OCTOBER 21, 2024

Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must. Each of these sets its own rules on handling personal information safely and legally. You need to know these laws well because they affect how you manage cybersecurity when dealing with multiple languages.

Cybersecurity 130

Cybersecurity Compliance Encryption Best Practices 130

PYMNTS

OCTOBER 17, 2016

It’s one thing if there’s a warrant, it’s another if authorities also have the paperwork to use biometric information to unlock smartphones. And, it’s something that has never happened before, and legal defense experts are already sounding off. That’s what happened in Lancaster, California, in May of this year. Signed by U.S.

Authorization 72

Authorization Law Enforcement Encryption Governance 72

PYMNTS

MARCH 20, 2020

Just weeks ago there was talk that Chinese-made drones were a threat to American security, but authorities are increasingly looking to them as alternatives to human contact as the coronavirus crisis continues. It seems a little Orwellian but this could save lives.”.

Law Enforcement 126

Law Enforcement Use Case Legal Laws 126

Neopay

APRIL 22, 2024

Companies House will now have greater authority to scrutinise information, impose stricter regulations on company names, and enforce new rules for registered office addresses. This necessitates a proactive approach from both new and existing company directors to ensure compliance with evolving regulatory requirements.

Laws 52

Laws Crime Due Diligence Law Enforcement 52

Fintech News

JUNE 3, 2024

Shell companies are legal entities that exist primarily on paper, lacking significant operations or physical presence, often used to manage financial transactions without conducting substantial business activities. The firm identified over 21 million risk activities across 472 million companies as of November 2023.

Money Laundering 104

Money Laundering Financial Crimes Crime APACS 104

PYMNTS

AUGUST 28, 2019

Law enforcement has had difficulty tracking down the robbers, as well as their driver, so they asked Google to track down their phones. The technique would rely on the police to use the data to find the right suspects, and the court found it legal. The armed robbery, which took place on Oct.

Authorization 49

Authorization Law Enforcement Crime Blocks 49

PYMNTS

MARCH 12, 2020

citizens, and they can be used for everything from entering bars to proving one’s identity to law enforcement. A 2017 survey found that 80 percent of drivers were in favor of DDLs, revealing that their lack of widespread implementation largely arises from complicated legal issues. Legal Issues Regarding Law Enforcement.

Law Enforcement 52

Law Enforcement Credential Laws Privacy 52

VISTA InfoSec

SEPTEMBER 15, 2023

For minors , consent must be procured from the parent or legal guardian. Clause 9(1), DPDP Act) If consent is retracted, the data fiduciary must stop the data processor from processing that individual’s data, unless otherwise authorized. For data processed for any function under any law or judgment issued under law.

Data Breach 130

Data Breach Breach Governance Government 130

PYMNTS

APRIL 1, 2020

Washington’s new law aims to institute transparency and accountability for facial recognition , as well as mandates to safeguard basic civil liberties. Municipal and state authorities can use facial recognition for missing persons, in Amber Alerts and Silver Alerts, and for public safety.

Laws 121

Laws Law Enforcement Governance Government 121

Segpay

OCTOBER 18, 2023

Source: Infosys Here's how transaction laundering typically works: Legitimate Front Business: A legitimate online business or merchant sells legal products or services (I.e., Hide & Seek: Transaction launderers know how to avoid detection by payment processors and regulatory authorities.

Transactions 52

Transactions Due Diligence Money Laundering Legal 52

Core

FEBRUARY 6, 2024

This type of government fraud can occur at various levels of the payment process, including the initiation, authorization, processing, and reconciliation of payments. Authorization Protocols: Stringent protocols for authorization ensure that only authorized personnel can initiate and approve transactions.

Best Practices 52

Best Practices Governance Government Fraud Prevention 52

PYMNTS

JULY 12, 2020

Danyal Bayaz, a Green member of parliament, told the Financial Times he blamed the Federal Financial Supervisory Authority ( BaFin ), Germany’s financial regulator, for the mess. German law enforcement authorities said they have added money laundering, balance falsification and market manipulation to the charges facing the collapsed firm.

Government 62

Government Governance Law Enforcement Money Laundering 62

PYMNTS

JULY 15, 2020

The firm’s facilities in Dublin were reportedly raided by law enforcement at the behest of authorities in Germany. On July 9, news surfaced that the probe into Wirecard AG had grown to include Ireland.

Law Enforcement 60

Law Enforcement Crime Authorization Legal 60

Segpay

MAY 1, 2024

DORA entered into force on January 16th, 2023, and its legal implementation deadline is January 17 th , 2025. Its legal framework is designed to enhance the operational resilience of all digital service providers, including payment service providers (PSPs), that operate in the European Union (EU).

Compliance 52

Compliance Cybersecurity Procedures Risk Management 52

PYMNTS

MARCH 8, 2020

If the courts decide Bitcoin is property, then law enforcement could track down thieves and return the stolen goods to their rightful owners. The French Financial Markets Authority (AMF) announced in December that it had approved its first ICO — “ICO visa” — to the cryptocurrency fundraising platform French ICO.

Bitcoin 112

Bitcoin Law Enforcement Cryptocurrency Rules 112

PYMNTS

JULY 21, 2020

In many cases, the release says the merchants have complied, but the FTC said it would pursue legal action in other cases where the marketers continue making such claims. To help protect consumers from such scams, the FTC set up a website with alerts of new schemes, consumer report data and law enforcement actions.

FTC 56

FTC Federal Trade Commission Scams Law Enforcement 56

PYMNTS

MAY 14, 2019

That project, however, was abandoned due to legal concerns. While the FBI wanted to pursue a criminal case, Equifax pulled back due to worries about legal exposure and how difficult the investigation could become. law enforcement authorities and cooperated with the federal agencies.”.

Compromise 65

Compromise Accounts FBI Law Enforcement 65

PYMNTS

OCTOBER 9, 2018

We are doing preliminary breach of union law inquiries on … the Danske Bank case in Denmark,” said European Banking Authority (EBA) Chair Andrea Enria told the European Parliament, according to Reuters. However, the DFSA doesn’t have the authority to actually impose fines on the bank. Last month, it was revealed that U.S.

Money Laundering 57

Money Laundering Regulations Law Enforcement Non-Bank 57

PYMNTS

FEBRUARY 4, 2019

It oversteps the line between privacy and legal punishment,” warned Philip Liu of Peking University, an expert on China’s efforts to develop credit scoring. He believes the database should be available to court officials and police — not the general public. Some of the data included contacts and anything searched online when using the app.

Law Enforcement 44

Law Enforcement Privacy Legal Laws 44

PYMNTS

MARCH 7, 2016

Apple, the beloved creator of such devices as the iPod, the iPad and, of course, the game-changing iPhone, has come under scrutiny lately from, of all places, law enforcement agencies. They did not list a specific instance. ” Last month, the U.S. ” Last month, the U.S.

Law Enforcement 40

Law Enforcement FBI Encryption Laws 40

Fintech News

FEBRUARY 21, 2024

These tools have enabled law enforcement agencies to trace the flow of funds, unmasking the networks behind criminal operations. The Monetary Authority of Singapore (MAS) played a pivotal role in shaping a safer and more innovative environment for digital assets.

Crime 94

Crime Ransomware Scams Stablecoins 94

PYMNTS

OCTOBER 17, 2016

companies are forced to report when these types of incidents take place, but under Britain’s Financial Conduct Authority (FCA) provision, companies are only required to report cyberattacks if they believe the event will have a material impact. In the U.S., managing director of security and privacy at Protiviti told Reuters.

Law Enforcement 71

Law Enforcement Crime Authorization Cybersecurity 71

PYMNTS

OCTOBER 7, 2020

All eCommerce sites and payment providers have one thing in common no matter their size: the constant and pervasive threat of money launderers using their businesses to process ill-gotten gains, conceal the funds’ sources and convert them into clean, taxable income that government authorities cannot track.

Money Laundering 68

Money Laundering Law Enforcement AML Payments 68

PYMNTS

MAY 21, 2019

Allied Wallet was accused of processing payments for firms that were known by law enforcement agencies as fraudulent, such as Stark Law, a debt collection scheme; TelexFree, a pyramid scheme; and MOBE and Digital Altitude, business coaching schemes that told customers they would make a large amount of extra income.

FTC 76

FTC Federal Trade Commission Law Enforcement Scams 76

Seon

JUNE 29, 2023

Organizations that aren’t KYT-compliant may face legal penalties, financial losses, and reputational damage. Investigate the flagged transactions and notify the given financial authority when required. KYT is a regulatory compliance requirement. As such, it is part of an organization’s due diligence.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

CB Insights

JUNE 5, 2019

While it is popular from a business perspective, some observers consider the technology controversial from a civil liberties standpoint — for example, San Francisco recently banned the use of facial recognition for law enforcement purposes. Tech companies are developing facial recognition services for law enforcement.

Technology 78

Technology Law Enforcement Online and Mobile Banking Authentication 78

PYMNTS

SEPTEMBER 16, 2019

The hacks were so extensive that authorities suspected it may have been a state-sponsored attack, but eventually they determined it was a large criminal enterprise that also had its hands in gambling, money laundering and stocks. On Friday (Sept. Tyurin was originally charged in 2015 and remained at large until he was captured.

Money Laundering 46

Money Laundering Law Enforcement Authorization Crime 46

PYMNTS

MAY 10, 2019

The Department of Justice and our law enforcement partners are committed to protecting PII, and will aggressively prosecute perpetrators of hacking schemes like this, wherever they occur.”. businesses. These defendants allegedly attacked U.S.

Data Breach 46

Data Breach Breach Identity Theft Law Enforcement 46

PYMNTS

JUNE 18, 2018

During an interview in 2016, he bragged that the Thai police only seized his closed and encrypted laptops, and they could spend decades trying to access those hard drives; without that data, law enforcement has no hard evidence of his crimes. They don’t have s–t on me,” he said at the time. I’m not going [to the U.S.].

Money Laundering 46

Money Laundering Law Enforcement FBI Crime 46

Stax

DECEMBER 4, 2023

PayFacs must also monitor their transactions continuously for any suspicious behavior and report them to the authorities immediately. For this, you might require data from government sources, international regulators, and law enforcement agencies. Q: Why is AML compliance critical for PayFacs?

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88