FICO

FEBRUARY 19, 2020

For many consumers and businesses, the ability to quickly send money directly from their bank account is a win in terms of convenience, but it isn’t without risk, when it comes to fraud and other types of financial crime. How RealTime Payments Impact Financial Crime. Account Takeover Fraud.

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Real Time Payments Financial Crimes Crime Account Takeovers 92

Finextra

APRIL 30, 2024

The Knoble, an alliance of financial service professionals, law enforcement, regulators, and NGOs dedicated to fighting Human Crime, is proud to welcome as its newest corporate member Featurespace, the world leader in enterprise Artificial Intelligence native technology that prevents fraud and financial crime.

Crime 59

Crime Law Enforcement Financial Crimes Laws 59

Fintech News

JUNE 3, 2024

A 2023 research by Moody’s Analytics revealed a wealth of corporate structures enabling sanctions evasion, money laundering, fraud, and other financial crimes. Suspected proceeds of crime totaling S$1.23 The firm identified over 21 million risk activities across 472 million companies as of November 2023.

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Money Laundering Financial Crimes Crime APACS 122

PYMNTS

JULY 17, 2018

This, he noted, leaves law enforcement with two major challenges. Pak told Webster that Mastercard has been cooperating with and supporting law enforcement for many years. Law enforcement in Singapore and elsewhere in the Asia-Pacific region, Pak told Webster, encounters counterfeit cards in a variety of contexts.

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Law Enforcement Laws Visa Push-to-Card 43

Payments Source

NOVEMBER 9, 2018

A new group aims to foster collaboration between fintechs and state and federal officials in the fight against crime — without hindering legitimate business innovation.

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Law Enforcement Laws FinTech Crime 63

The Fintech Times

MAY 18, 2024

The crypto exchange’s Financial Crimes Compliance (FCC) department collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office in the case. Binance was able to share its blockchain expertise and intelligence to help law enforcement bring the suspects to justice.

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Money Laundering Law Enforcement Financial Crimes Crime 69

Fintech News

APRIL 22, 2024

This move aims to enhance law enforcement efficiency and prevent the laundering of money obtained through illegal activities. During a recent meeting on 19 April 2024, the Technology Crime Prevention and Suppression Committee mandated the SEC to identify and report unauthorised digital asset service providers to the ministry.

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Blocks Law Enforcement Money Laundering Crime 109

The Fintech Times

APRIL 3, 2024

“It complements the industry’s existing close collaboration with MAS and law enforcement authorities to combat financial crime. The post Singapore Introduces COSMIC Platform to Combat Financial Crimes appeared first on The Fintech Times.

Financial Crimes 59

Financial Crimes Crime Money Laundering Law Enforcement 59

BioCatch

OCTOBER 30, 2024

According to the United Nations Office on Drugs and Crime, the estimated amount of money laundered globally each year is between $800 billion and $2 trillion. Funds from illicit activities – from financial fraud and terrorist financing to drug and human trafficking, flow across multiple institutions and jurisdictions every day.

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Financial Crimes Crime Law Enforcement Money Laundering 52

Fintech News

JUNE 23, 2024

Since the last assessment in 2014, Singapore has closely monitored ML risks, including those related to legal persons, virtual assets, and environmental crimes, to ensure timely risk mitigation.

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Money Laundering Risk Crime Law Enforcement 107

Fintech News

JUNE 16, 2024

The Singapore Police Force (SPF) identified a multi-jurisdictional operation, with involvement from the Hong Kong Police Force (HKPF) and the Royal Malaysia Police (RMP), to investigate these crimes. The joint effort led to the arrest of the two suspects in Malaysia on 12 June 2024. They were extradited to Singapore on 14 June.

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Scams Law Enforcement Crime Compromise 112

Fintech Finance

JUNE 20, 2024

Flutterwave , Africa’s leading payments technology company, has committed to partnering with Nigeria’s Economic and Financial Crimes Commission (EFCC) to establish and lead a state-of-the-art Cybercrime Research Center.

Financial Crimes 97

Financial Crimes Crime FBI Law Enforcement 97

The Fintech Times

JUNE 11, 2024

Something has to be done though, as 40 per cent of crimes committed in England and Wales are fraudulent. The next government must show it will make tackling this terrible crime a national priority and appoint a fraud minister to bring sectors together and drive forward real change at pace. What’s next? The post Which?

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Crime Law Enforcement Laws Government 69

Fintech News

APRIL 11, 2024

Khoo, with an extensive background in public service, law enforcement, and national security, joins the company to enhance its efforts in combating fraud and financial crime within digital asset spaces. Blockchain intelligence company TRM Labs announced that it has named Boon Hui Khoo as its senior advisor.

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Advisors Law Enforcement Laws Financial Crimes 81

The Fintech Times

JUNE 21, 2024

Both firms and governments across the globe have a duty to do all they can to intensify the fight against internet crime and looking to do so in Nigeria, Flutterwave , the African paytech, has partnered with Nigeria’s Economic and Financial Crimes Commission (EFCC).

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Crime Research Financial Crimes FBI 64

BioCatch

NOVEMBER 25, 2024

BioCatch recently partnered with the Knoble , a nonprofit organization focused on preventing financial and human crime, as well as thought leaders and experts in the banking, law enforcement, and legal community on an information sharing initiative.

Financial Crimes 40

Financial Crimes Crime Law Enforcement Legal 40

PYMNTS

SEPTEMBER 21, 2020

The Financial Crimes Enforcement Network ( FinCEN ) uncovered government documents on how giant financial institutions move trillions of dollars in suspicious transactions, padding their bottom line, while terrorists, drug dealers and corrupt politicians are allowed to run free. FinCEN, a division of the U.S. told the news outlet.

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Fincen Suspicious Activity Report (SAR) Money Laundering SARS 111

PYMNTS

NOVEMBER 15, 2016

New York City has a new fighting chance against the proliferation of cyber fraud in the form of a state-of-the-art, $10 million digital crime laboratory. To combat cyber crime, dedicated techs at the lab work to infiltrate the dark web, acquiring big data, gathering intelligence and building cases. is to the whims of cybercriminals.

Crime 62

Crime Data Breach Law Enforcement Breach 62

PYMNTS

APRIL 30, 2020

The International Criminal Police Organization (Interpol), the Lyon, France-based global law enforcement agency, said suspects have been arrested delivering cocaine, marijuana, ketamine and ecstasy by bicycle, motorcycle and car in Ireland, Malaysia, Spain and the United Kingdom. “As

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Law Enforcement Crime Laws Addressing 80

The Payments Association

OCTOBER 21, 2024

Collaboration between regulators, law enforcement, and the counter-fraud community is needed to ensure the effectiveness of the reimbursement scheme and to mitigate emerging fraud risks. Fraud still accounts for almost 40% of all crime in England and Wales, and with an estimated 3.2 What’s next?

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Scams Law Enforcement Crime Fraud Prevention 88

PYMNTS

DECEMBER 18, 2020

18) that the government says would make convertible digital currencies like bitcoin less attractive to criminals engaging in crimes such as ransomware attacks. Treasury Department proposed sweeping new rules late Friday (Dec.

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Treasury Rules Bitcoin Ransomware 141

PYMNTS

DECEMBER 18, 2020

Criminals seeking to exploit unmet demand for the COVID-19 vaccine are selling doses – many presumably fake – on the "dark web," the portion of the internet dominated by merchants who operate beyond easy reach of law enforcement agencies, the Financial Times reported on Friday (Dec.

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Law Enforcement FBI Scams Crime 109

PYMNTS

AUGUST 14, 2019

More broadly, however, Blanco’s theme was the interconnectedness of the financial system – and how diligence and transparency is the key to combating money laundering and other financial crimes in the U.S. and around the world.

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Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

PYMNTS

JULY 15, 2019

A lot of criminal actors start to get it into their heads that because they’d be using the nontraditional medium of cryptocurrency, there’s no course for law enforcement, so trading platforms like ourselves along with regulators need to catch these actors,” he said. But that’s not the case [for businesses that are staying vigilant].”.

Crime 77

Crime Cryptocurrency Law Enforcement Verification 77

PYMNTS

FEBRUARY 26, 2020

Clearview AI said that a malicious actor “gained unauthorized access” to its list of customers, which include law enforcement agencies, police forces and financial institutions. In New Jersey, lawmakers initiated a ban across the state on law enforcement using the company’s software.

Law Enforcement 68

Law Enforcement Data Breach Laws Breach 68

PYMNTS

SEPTEMBER 21, 2020

Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity. As BuzzFeed reported, “laws that were meant to stop financial crime have instead allowed it to flourish.

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Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

PYMNTS

JULY 27, 2020

Although there are countless ways a cybercriminal can swindle funds from a company — either from the outside or within — it’s often the invoice at the center of the crime. Irish law enforcement reportedly arrested two men in connection to the case. Law enforcement officials said their investigation remains ongoing.

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Law Enforcement Scams Phishing B2B 101

PYMNTS

JANUARY 18, 2020

They say the perfect crime is hard to commit, but last week in Spokane, Washington an intrepid burglar managed to pull it off at the Yuppy Puppy pet store, according to local law enforcement officials. What makes the story stand out among the reams of local retail crime reporting is that the crime was actually committed.

Crime 58

Crime Law Enforcement Returns Blocks 58

PYMNTS

APRIL 9, 2020

He said British law enforcement is still investigating the crime, but declined to comment further. A Travelex spokesman told the WSJ that the firm got advice from security experts on how to proceed, and have kept its investors and regulators up to date on the recovery.

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Law Enforcement Credit Cards Payer On-Demand 111

BioCatch

MAY 14, 2024

Recently, the alarming increase in cases, especially the fake contact center scam, has drawn the attention of industry and law enforcement, primarily due to the high amount of money involved in these crimes. The topic of scams and fraud has been a recurrent theme in the news over the past years.

Law Enforcement 59

Law Enforcement Addressing Scams Crime 59

Fintech News

JULY 17, 2024

The rapid ascent of cryptocurrency has ushered in a new era of financial innovation, but it has also created novel challenges in combating financial crime. These figures underscore the immense challenge facing regulators and law enforcement agencies in their efforts to curb illicit financial flows in the crypto space.

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Money Laundering Law Enforcement AML Non-Bank 109

PYMNTS

MARCH 31, 2019

“I grew up in the FBI working criminal investigation — I worked violent crimes and gangs and drugs. An analysis by Third Way , a center-left think tank in Washington, said that less than 1 percent of harmful cyber incidents are the subject of law enforcement action. And then, 9/11 happened.

FBI 76

FBI Law Enforcement Cybersecurity Crime 76

PYMNTS

NOVEMBER 26, 2018

Deputy Attorney General Rod Rosenstein, is seeking to gain international support in dealing with crimes tied to digital currencies. “We Recovery efforts by law enforcement have been able to retrieve a bit less than $2 million of funds. The United States, through U.S. Brexit Deal Awaits Vote.

Crime 58

Crime Money Laundering Law Enforcement Correspondent Bank 58

The Fintech Times

AUGUST 20, 2024

According to the Judiciary Police, telecom and online fraud caused losses of more than 310 million patacas (approximately $38.6million) last year, with telephone and investment fraud being the predominant crimes contributing to this number. The latest campaign will start as a month-long trial.

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Scams Risk Law Enforcement Transactions 59

Finextra

AUGUST 20, 2024

Committed to collaboratively advancing the crypto ecosystem’s security, Binance is working closely with law enforcement agencies around the globe in combating and deterring financial crime.

Law Enforcement 52

Law Enforcement Financial Crimes Scams Crime 52

FICO

DECEMBER 23, 2020

Here is how we predict banks will endeavor to enhance their financial crimes controls in 2021: 1. We expect these advanced analytics will play an even greater role this year in the prevention and detection of money laundering, terrorist financing, and other illicit financial crimes. Regulators Will Zero in on Closing the Gaps.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

PYMNTS

MARCH 9, 2020

To ferret out crime, follow the money; to put a stop to crime, stop the money from getting to the bad guys in the first place. To that end, PayPal said last month that it would team with law enforcement agencies, academics and experts to track how payments are used to traffic firearms illegally through the United States.

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PayPal Financial Crimes Crime Law Enforcement 70