BioCatch

OCTOBER 30, 2024

Funds from illicit activities – from financial fraud and terrorist financing to drug and human trafficking, flow across multiple institutions and jurisdictions every day.

Financial Crimes 52

Financial Crimes Crime Law Enforcement Money Laundering 52

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.

Money Laundering 69

Money Laundering Law Enforcement Financial Crimes Crime 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. Boon Hui Khoo “I am pleased to contribute to TRM’s mission of building a safer financial system in this digital age.

Advisors 81

Advisors Law Enforcement Laws Financial Crimes 81

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

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.

Blocks 109

Blocks Law Enforcement Money Laundering Crime 109

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.

Fincen 111

Fincen Suspicious Activity Report (SAR) Money Laundering SARS 111

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. Gross negligence – or evidence of a battle waged by banks that requires new, high-tech weaponry?

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

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. The Team Oriented Nature Of Compliance .

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

FICO

DECEMBER 23, 2020

In the wake of such radical changes, as we look to the year ahead, the challenge for global banks and financial institutions at large has never been greater. Here is how we predict banks will endeavor to enhance their financial crimes controls in 2021: 1. A number of proposed bills are also with law makers on Capitol Hill.”.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

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.

Money Laundering 109

Money Laundering Law Enforcement AML Non-Bank 109

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

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

FICO

NOVEMBER 2, 2017

A new report from LexisNexis on Future Financial Crime Risks (September 2017) highlights the stress felt by UK banks around financial crime compliance. Given the rapid change in financial compliance regulations, it’s easy to see why the 170 financial crime professionals surveyed felt overwhelmed.

Financial Crimes 53

Financial Crimes Crime Suspicious Activity Report (SAR) SARS 53

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

The Fintech Times

AUGUST 20, 2024

Under a new anti-fraud safety mechanism, when Macau users withdraw their assets from Binance, the system will pop up the anti-scam warning notification tailored by Judiciary Police, providing users with practical tips and contact information of local law enforcement agencies. The latest campaign will start as a month-long trial.

Scams 59

Scams Risk Law Enforcement Transactions 59

Finovate

JULY 3, 2024

The USMS will use Coinbase Prime to centrally manage these Class 1 digital assets to facilitate various law enforcement activities. The USMS, a federal law enforcement agency within the Department of Justice, holds multiple roles within the U.S. judicial system.

Law Enforcement 52

Law Enforcement Caps Laws Money Laundering 52

PYMNTS

MARCH 9, 2020

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. We have an expertise in financial crime.”. He noted, too, that PayPal’s risk profile is different than might be seen at a bank.

PayPal 70

PayPal Financial Crimes Crime Law Enforcement 70

The Fintech Times

NOVEMBER 26, 2024

Recent hires Recent compliance hires include: Todd McElduff – enterprise compliance director The enterprise compliance team at Binance is responsible for working with law enforcement to service requests and conduct special investigations, educating and training crime fighters.

Compliance 64

Compliance Financial Crimes Crime Money Laundering 64

CB Insights

DECEMBER 9, 2021

California-based TRM Labs offers blockchain analytics and assists cryptocurrency firms, law enforcement agencies, and financial institutions in addressing fraud and financial crime stemming from crypto transactions. How’s the company performing?

Law Enforcement 63

Law Enforcement Compliance IRS FBI 63

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).

Crime 64

Crime Research Financial Crimes FBI 64

The Fintech Times

JUNE 30, 2024

Lynx , a provider of artificial intelligence (AI) software that detects and prevents fraud and financial crimes, has introduced a real-time mule detection solution for banks and financial institutions. per cent of accounts held by financial institutions, and an estimated $3billion in fraudulent financial transfers.

Financial Crimes 75

Financial Crimes Law Enforcement SWIFT Blocks 75

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. The rule changes provide stronger consumer protection but also raise concerns about industry costs and potential fraud exploitation.

Scams 88

Scams Law Enforcement Crime Fraud Prevention 88

FICO

JANUARY 19, 2022

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. How FICO Can Help You Control Fraud and Financial Crime. Explore FICO’s solutions for fraud protection and financial crime compliance. Here are excerpts. by FICO.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52

PYMNTS

OCTOBER 7, 2020

As PYMNTS’ Preventing Financial Crimes Playbook recently noted, the U.S. The Financial Crimes Enforcement Network recently issued a warning that fraudsters are leveraging various illicit methods, including malware, phishing schemes, extortion and business email compromise (BEC) scams — all with a COVID-19 twist.

Bitcoin 93

Bitcoin Consumer Scams Cryptocurrency 93

The Fintech Times

JUNE 6, 2024

Woody Malouf , head of financial crime at Revolut, said: “We take fraud and the financial loss incredibly seriously. More customers than ever before are using Revolut’s savings accounts and features. On average, customers hold 2.6-times times more money in their savings vs current account.

Financial Crimes 64

Financial Crimes Law Enforcement Compromise Crime 64

The Fintech Times

MARCH 27, 2024

Ted Datta , senior director, financial crime industry practice at Moody’s “In this case, the perpetrators manipulated the invoice system by setting up shell companies and falsifying invoices. “Beyond verifying corporations are legitimate, better detecting and acting on suspicious financial activity patterns is paramount.

Money Laundering 93

Money Laundering Financial Crimes Crime Due Diligence 93

The Fintech Times

APRIL 29, 2024

Relevant laws have existed for about 50 years and the Financial Action Task Force (FATF) was established in 1989 by the G7 nations as a global money laundering and terrorist financing watchdog. If the problem is immense, on the face of it, AML regulatory requirements and laws seem sensible enough. million SARs to the U.S.

Money Laundering 78

Money Laundering AML SARS Financial Crimes 78

The Payments Association

OCTOBER 28, 2024

Collaboration with law enforcement and the Government The report stresses the importance of ongoing collaboration between financial institutions, regulators, and law enforcement. The fight against fraud is ongoing, and it will require constant adaptation and innovation to keep pace with the threats on the horizon.

Scams 88

Scams Push-to-Card Fraud Detection Online and Mobile Banking 88

Finovate

JULY 23, 2024

In fact, the Financial Crimes Enforcement Network (FinCEN) has reported that check fraud is becoming increasingly prevalent and, as of 2023, represents more than a third of all fraud at depository institutions. This means that there is an ample opportunity for fraudsters.

Checks 64

Checks Fraud Detection Financial Crimes Crime 64

PYMNTS

DECEMBER 26, 2018

As a result, law enforcement agencies around the world have increased their efforts against money mule fraud. When we approach them and talk to them, and explain to them what they’ve been doing, a lot of times, the horror is there,” said Steven D’Antuono, an FBI section chief who specializes in financial crimes.

FBI 64

FBI Money Laundering Law Enforcement Cross-Border 64

The Fintech Times

SEPTEMBER 30, 2024

UK law enforcement, in particular, faces challenges in tackling fraudsters based overseas due to geographical and legal constraints. While the UK government has focused on fraud in political pledges, international collaboration remains lacking compared to other forms of economic crime.

Law Enforcement 59

Law Enforcement Cross-Border Fraud Prevention Crime 59

PYMNTS

OCTOBER 7, 2018

Danske Bank’s interim chief financial officer Morten Mosegaard noted that the U.S. DOJ financial crime inquiry differs from that of ABLV in Latvia. law enforcement agencies were examining Danske Bank over what has been termed “massive money laundering flows” from Russia and several former Soviet states.

Money Laundering 59

Money Laundering Law Enforcement Financial Crimes Correspondent Bank 59

PYMNTS

JUNE 16, 2020

Jaffer cited reports that a Secret Service internet feasibility study noted the move would bolster joint work in the Treasury and could reinvigorate its stature as a law enforcement body. However, he noted that the move could negatively impact morale at DHS.

Cybersecurity 90

Cybersecurity Money Laundering Treasury FBI 90

PYMNTS

OCTOBER 11, 2018

Earlier this year, it was revealed that Iceland’s efforts over the last decade to focus on crimes that were associated with the financial crisis around the globe has hurt its law enforcement of money laundering and terrorism financing. billion each year.

Central Bank 43

Central Bank AML Money Laundering Regulations 43

FICO

OCTOBER 11, 2017

Businesses have relied on AI to fight fraud and financial crime for more than 25 years. Later, in production, the defensive AI system can determine if the attacker took the bait, and then rapidly isolate the new transactions of this behavior and the sources, to turn over to law enforcement. Why We Need Defensive AI.

AI 110

AI Law Enforcement Rules Non-Bank 110

PYMNTS

MARCH 3, 2020

“The hacking of virtual currency exchanges and related money laundering for the benefit of North Korean actors poses a grave threat to the security and integrity of the global financial system,” said U.S. but did not register with the Financial Crimes Enforcement Network (FinCEN). Attorney Timothy J.

Law Enforcement 56

Law Enforcement Money Laundering IRS OFAC 56

PYMNTS

MARCH 4, 2020

The Financial Crimes Enforcement Network (FinCEN) has fined Michael LaFontaine, former chief operational risk officer at U.S. Bank had in place erroneously capped the number of alerts, which hindered law enforcement’s ability to spot suspicious activity. The automated transaction monitoring software U.S.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52