Remove Crime Remove Government Remove Law Enforcement
article thumbnail

Amazon Starts Crime Unit To Crack Down On Counterfeits

PYMNTS

Amazon has launched a new Counterfeit Crimes Unit, which it wants to use to combat fake listings on its eCommerce site. The new Counterfeit Crimes Unit will attempt to enact civil legislation against criminals and work with brands in joint or independent investigations.

Crime 97
article thumbnail

Banks, Payment Providers at High Risk for Environmental Crimes Money Laundering

Fintech News

Singapore has released an Environmental Crimes Money Laundering National Risk Assessment (NRA), highlighting the primary threats and vulnerabilities associated with it. Environmental crimes, such as illegal wildlife trafficking and illegal logging, generate an estimated US$110 billion to US$281 billion in criminal gains annually.

article thumbnail

Key learnings from 2024’s biggest financial crime fines

The Payments Association

2024 brought significant regulatory action, highlighting persistent weaknesses in financial crime controls across the industry. As we enter 2025, we look back at five significant cases from 2024 and the lessons they provide for organisations aiming to strengthen their financial crime frameworks. billion settlement with the U.S.

article thumbnail

Navigating the Evolving Landscape of Crypto Crime

Fintech News

The report by Chainalysis provides a deep dive into these changes, highlighting the decline in certain types of crypto crimes and the persistence, if not growth, of others, such as ransomware and darknet markets. These tools have enabled law enforcement agencies to trace the flow of funds, unmasking the networks behind criminal operations.

Crime 86
article thumbnail

Singapore Ramps Up Anti-Money Laundering Measures After S$3 Billion Bust

Fintech News

The IMC’s report outlines strategies aimed at strengthening prevention, improving detection, and enforcing tougher penalties to better protect the integrity of Singapore’s financial system against increasingly sophisticated financial crimes.

article thumbnail

Report: FinCEN Files Reveal Billions In Suspicious Money Flows

PYMNTS

A shocking new report reveals an underworld of corruption in the world’s banks and how governments allow it to thrive, BuzzFeed News reported. Department of Treasury that analyzes financial transactions to combat money laundering, terrorist financing and other financial crimes across the globe, found the U.S. told the news outlet.

Fincen 111
article thumbnail

Which? Recommends a Fraud Minister to Tackle 40% of All UK Crime: Fraud

The Fintech Times

The fight against fraud requires coordinated action across multiple government departments and business sectors. Something has to be done though, as 40 per cent of crimes committed in England and Wales are fraudulent. Recommends a Fraud Minister to Tackle 40% of All UK Crime: Fraud appeared first on The Fintech Times.

Crime 69