Payments Source

MARCH 27, 2019

MoneyGram is investing more time and technology in helping law enforcement agencies spot the scammers moving money on its network.

Law Enforcement 85

Law Enforcement Laws Technology Fraud Detection 85

PYMNTS

MARCH 10, 2020

In the March Digital Identity Tracker® , PYMNTS explores the latest developments in the world of digital IDs, including the rise of biometrics in the border control sector, challenges to digital ID posed by the new coronavirus outbreak and a new credit card-mounted fingerprint reader from NatWest. But the U.S.

Contactless Payments 109

Contactless Payments Authentication Law Enforcement Cross-Border 109

Fintech News

JULY 17, 2024

These figures underscore the immense challenge facing regulators and law enforcement agencies in their efforts to curb illicit financial flows in the crypto space. Monero transactions have risen steadily, with a notable spike in March 2024 due to a spam event called Black Marble. billion in 2024.

Money Laundering 107

Money Laundering Law Enforcement AML Non-Bank 107

PYMNTS

JUNE 19, 2019

The world’s governments, specifically regulatory and law-enforcement authorities, are essential partners in this endeavor.”. Also, users would be able to perform instant and almost completely cross-border free money transfers from their phones. Libra also caught the attention of The BoE, the U.K.

Money Laundering 77

Money Laundering Law Enforcement Cross-Border Cryptocurrency 77

The Fintech Times

SEPTEMBER 30, 2024

International cooperation The report emphasises the global nature of fraud, with criminal networks often operating across borders, making it difficult for individual nations to respond effectively. UK law enforcement, in particular, faces challenges in tackling fraudsters based overseas due to geographical and legal constraints.

Law Enforcement 59

Law Enforcement Cross-Border Fraud Prevention Crime 59

PYMNTS

DECEMBER 1, 2020

Customs and Border Protection Commissioner Alan Bersin, and other “eminent leaders in supply chain risk management, law enforcement, and logistics” are among the founding advisory board, according to the announcement. Altana AI was started by leaders in the supply chain data science area.

AI 64

AI Law Enforcement Cross-Border Risk 64

PYMNTS

SEPTEMBER 21, 2020

The reality of the global financial system is that there will always be attempts to launder money and evade sanctions; the responsibility of banks is to build effective screening and monitoring systems, and we work closely with regulators and law enforcement to bring perpetrators to justice.”. In one example, reported on Monday (Sept.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

PYMNTS

FEBRUARY 13, 2019

Mexico border (sophisticated tunnels, modified trains and rail spurs, even jalapeño cans designed to fool border inspectors), and whose main distribution points were Lost Angeles, Chicago and New York City. In 1989, Mr. Guzmán’s brother, Arturo, was stopped as he was driving across the Arizona border carrying more than $1.2

Money Laundering 58

Money Laundering Debit Card Cross-Border BSA 58

PYMNTS

DECEMBER 26, 2018

“It’s a much higher success rate when you have a lot of money using somebody else’s account going through there, instead of trying to cross the border with a physical transportation of cash.”. As a result, law enforcement agencies around the world have increased their efforts against money mule fraud.

FBI 64

FBI Money Laundering Law Enforcement Cross-Border 64

PYMNTS

AUGUST 11, 2016

to report cross-border movement of cash that is $10,000 or more. The rule was withdrawn by the Financial Crimes Enforcement Network because of the prepaid card industry, which wasn’t happy with the rule. “It’s not dead,” the spokesman told Reuters. In 2009, the U.S.

Money Laundering 46

Money Laundering Rules Cross-Border Law Enforcement 46

Fintech News

JUNE 6, 2024

Lastly, the cross-border nature of many scams makes it challenging for law enforcement agencies to track and apprehend the perpetrators.

Scams 107

Scams Phishing Deepfake Verification 107

PYMNTS

SEPTEMBER 14, 2018

In the latest salvo of cross-border probes over money laundering, The Wall Street Journal reported Friday (Sept. law enforcement agencies are examining Danske Bank over what has been termed “massive money laundering flows” from Russia and several former Soviet states. 14) that U.S.

Money Laundering 66

Money Laundering Wire Transfer Law Enforcement Treasury 66

PYMNTS

FEBRUARY 26, 2019

federal law enforcement agencies have recovered $110,000 worth of stolen bitcoin, and returned it to cryptocurrency exchange Bitfinex. That amount — totaling 27.7 bitcoin — is just a small portion of the amount stolen by hackers in August 2016. ZDNet reported that the two are building a prototype to test it out.

Bitcoin 43

Bitcoin Blockchain Cross-Border Law Enforcement 43

VISTA InfoSec

SEPTEMBER 15, 2023

Cross-Border Data Transfers: Processing of Personal Data Outside India Processing of Personal Data Outside India: (Clause 16, DPDP Act) India’s Data Protection Bill shifts from white-list to negative-list for data transfers, excluding regions restricted by government notification.

Data Breach 130

Data Breach Breach Government Governance 130

PYMNTS

DECEMBER 20, 2019

They said they had recovered their funds and were cooperating with law enforcement, Bloomberg reported. Petrus said he hoped that law enforcement could continue the investigation and identify the “bigger fish in this particular pool.”. Both companies identified themselves as victims in the scam.

Law Enforcement 53

Law Enforcement Phishing Wire Transfer Scams 53

PYMNTS

JULY 14, 2019

In addition, domestic and foreign companies operating in China have complained of unfair treatment when it comes to market access, burdensome red tape and weak law enforcement. China is also planning to promote cross-border eCommerce in additional cities as an initiative to stabilize trade in the country.

Law Enforcement 41

Law Enforcement Cross-Border Economy Small Business 41

FICO

MARCH 26, 2018

In the USA, The Clearing House launched their Faster Payments scheme in November 2017, the same month that the Eurozone got SEPC CT Inst – a cross-border, real-time payments scheme. In recent months, many countries have rolled out real-time payments schemes.

Real Time Payments 88

Real Time Payments Irrevocability Push-to-Card Payments 88

The Payments Association

JANUARY 29, 2025

Specific failures included an inability to flag unusual patterns in cross-border transactions, inadequate thresholds for identifying high-risk activities, and insufficient integration with customer risk profiles. Inadequate transaction monitoring systems : The bank relied on outdated and poorly calibrated monitoring systems.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

PYMNTS

JUNE 19, 2019

In an effort to clamp down on cross-border money laundering, the People’s Bank of China (PBOC) plans to bolster cooperation with other nations such as countries in Europe. According to a report of the Financial Action Task Force (FATF), a “large amount of illicit proceeds flows out of China annually.”

Money Laundering 40

Money Laundering Law Enforcement Central Bank AML 40

Stax

DECEMBER 4, 2023

However, be mindful of challenges like rapid technological advancements, evolving money laundering techniques, diverse clientele, varying risk profiles, cross-border transactions, and varied regulations. For this, you might require data from government sources, international regulators, and law enforcement agencies.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

PYMNTS

JUNE 10, 2019

Business enterprise compromise (BEC) scams are crossing borders, where fraudsters in Africa are targeting U.S. Separately, and a world away in Afghanistan, Reuters reported that inflated contracts for meat rations for law enforcement officials have run into the millions of dollars, siphoned from government coffers and foreign donors.

Business Email Compromise 51

Business Email Compromise Scams Romance Scams Counterfeit Check 51

PYMNTS

OCTOBER 2, 2017

We immediately engaged third-party forensic experts and law enforcement when we heard from our processor. While law enforcement limits the information we can share, we will communicate additional information as we are able.”. Last year, it expanded into Europe, serving global clients with cross-border merchant services.

Law Enforcement 44

Law Enforcement Breach Point-of-Sale (POS) Processors 44

PYMNTS

APRIL 30, 2019

But there is also the increasing digital and mobile sale of age-restricted products and services — alcohol, eCigarettes and gambling now, perhaps cannabis somewhere down the road — and the need to ensure that underaged consumers don’t game the system and perhaps catch the attention of parents, law enforcement authorities and regulators. “A

Verification 64

Verification Authentication Online and Mobile Banking Law Enforcement 64

PYMNTS

MARCH 12, 2018

Among the problems solved by digital fiat: Looking at speed, said Cooke, cross-border transactions can take a while. Not an insignificant problem when cross-border transactions cost banks $170 billion annually in friction-related costs. The problem exists on all fronts. dollar.”.

Faster Payments 44

Faster Payments Central Bank Cross-Border Payments 44

PYMNTS

FEBRUARY 1, 2020

Almost 75 million pounds crossed the border, according to the Hass Avocado Board. Yet there is a dark side to all of the creamy guacamole Americans are gearing up to make this weekend – it has apparently tipped off an avocado-connected crime wave south of the border. That’s up 3 percent from the same period in 2019. “We

Cross-Border 53

Cross-Border Law Enforcement Crime On-Demand 53

PYMNTS

JULY 3, 2017

According to Europol, the European Union’s law enforcement agency, the airline industry loses nearly a billion pounds ($1.3 Complex Cross-Border B2B Payments. The Rise of CNP Fraud. billion USD) every year as a result of card-not-present (CNP) online fraudulent ticket purchases.

Payments 44

Payments Cross-Border Debit Card Law Enforcement 44

PYMNTS

OCTOBER 27, 2017

states, although law enforcement officials believe the threats are empty. Commerce Crossing Borders: Numbers are strong from global payments giant, Visa, where cross-border transactions were up 10 percent. So far, the attack has been seen in three U.S. No student data has been released.

AI 46

AI Account Takeovers FBI Payment APIs and Integration 46

PYMNTS

JULY 29, 2017

About a year ago it was a young man who attempted to make that border crossing with 94 iPhones strapped to his waist. It actually might have worked, but it was a hot day and someone wearing a big bulky sweater caught the eye of border security, who put her through a metal detector.

Crime 40

Crime Cross-Border Law Enforcement CHIPS 40

PYMNTS

JANUARY 8, 2018

China continued its crackdown on the cross-border exodus of funds, and the world got to meet the middleman and Forever 21 got hacked. Therefore, today’s memo on federal marijuana enforcement simply directs all U.S. And that was just Tuesday. Credit Karma said yes to early tax refunds for consumers – for free. “It

Tax Refunds 42

Tax Refunds Scams Legal Wires 42

CB Insights

MAY 8, 2018

Land Rover recently partnered with the Austrian Red Cross to design a special operations vehicle with a roof-mounted, thermal imaging drone. In particular, drones have been used to transport drugs across international borders. On the flip side of the coin, drones are also used by law enforcement for surveillance and crime prevention.

Assessments 78

Assessments On-Demand Technology Research 78

CB Insights

SEPTEMBER 28, 2017

Land Rover recently partnered with the Austrian Red Cross to design a special operations vehicle with a roof-mounted, thermal imaging drone. In particular, drones have been used to transport drugs across international borders. Though drone technology has many positive uses, it has also been used to conduct illegal activities.

Assessments 60

Assessments On-Demand Technology Research 60

VISTA InfoSec

JULY 17, 2024

Establish protocols for communicating with external parties, such as law enforcement, in multiple languages: Knowing how to quickly share info with authorities in various countries can speed up response times. Foster security culture across languages Creating a security culture that crosses language borders helps everyone stay safe.

Cybersecurity 238

Cybersecurity Compliance Encryption Best Practices 238

VISTA InfoSec

OCTOBER 21, 2024

Establish protocols for communicating with external parties, such as law enforcement, in multiple languages: Knowing how to quickly share info with authorities in various countries can speed up response times. Foster security culture across languages Creating a security culture that crosses language borders helps everyone stay safe.

Cybersecurity 147

Cybersecurity Compliance Encryption Best Practices 147

The Fintech Times

APRIL 29, 2024

Frankly, not enough has changed since then, at a time when payment systems have never been so interconnected, money flows have never been at such a high volume, the speed of cross-border payments has never been so fast, and the risks to society from organised crime and terrorism have never been so high. What’s the problem?

Money Laundering 78

Money Laundering AML SARS Financial Crimes 78

PYMNTS

MARCH 13, 2017

As they struggle to survive, distressed retailers can take more desperate measures, including highly promotional pricing that can border on irrational. to add international payments services to their business lines without having to set up complex and costly cross-border infrastructure. Google Buys in to FX.

Crime 40

Crime Cross-Border Law Enforcement Cross-Border Payments 40

PYMNTS

JULY 2, 2018

As noted last week, some regulators, spanning the United Kingdom, North America and Asia, are seeking those exemptions as they contend that the General Data Protection Regulation ( GDPR ) could stymie cross-border law enforcement actions that focus on fraud and manipulations of markets.

Regulations 40

Regulations Cross-Border Law Enforcement Data Breach 40

PYMNTS

AUGUST 19, 2019

The New York Times reported that the latest version of a website set up by the group’s military wing, known as the Qassam Brigades, provides every visitor with a unique bitcoin address to allow them to send the digital currency so that the donations are nearly impossible for law enforcement to trace.

Bitcoin 60

Bitcoin Law Enforcement Digital Currency Authorization 60