UK grants law enforcement expanded powers over crypto assets
The Paypers
MARCH 4, 2024
The UK Government has decided to implement new measures granting law enforcement agencies increased powers over cryptocurrency assets.
Governance Government Law Enforcement 
7 Best Practices for Preventing Government Fraud in Payments
Core
FEBRUARY 6, 2024
As pillars of the public, government organizations contribute to the stability and functionality of society, ensuring citizens receive necessary support, protection, and opportunities for growth. Digital payments are now an integral piece of the government financial landscape. Here are some key insights.
Singapore Ramps Up Anti-Money Laundering Measures After S$3 Billion Bust
Fintech News
OCTOBER 6, 2024
The report also highlights measures to deter the misuse of shell companies, including the introduction of stricter registration requirements and the enforcement of nominee director rules. In timely detection, the committee emphasizes better information sharing between government agencies and private sector gatekeepers.
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AI Law Enforcement Tools Could Be Inaccurate
PYMNTS
APRIL 28, 2019
A research group revealed that it has discovered “serious shortcomings” in the predictive tools used by law enforcement agencies. The majority of people identified as chronic offenders had few, if any, actual contacts with the police,” it said, according to The Financial Times.
Fraud around the world: How countries differ in the fight against a global epidemic
BioCatch
OCTOBER 17, 2024
It has also become detrimental to the prospects of many economies in several ways such as undermining trust in financial systems, increasing costs for businesses and consumers, and draining government and law enforcement resources.
New Government Tool Takes Aim at Prepaid Card Fraud
Payments Source
SEPTEMBER 8, 2016
A new tool developed by the federal government may put the brakes on certain counterfeit card scams during the holidays, if law enforcement agencies can replicate the results of an initial test.
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TRM Labs Welcomes Former INTERPOL President Boon Hui Khoo as Senior Advisor
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. Esteban Castaño “Mr.
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Bringing Government Procurement Into The Digital Age — And Onto Online Marketplaces
PYMNTS
OCTOBER 14, 2019
Think of government spending, and the first word to come to mind might decidedly not be this one: efficient. For vendors, there are challenges, too, as they navigate government agency solicitations for products and services, and seek to bid competitively. It is going to be hard,” Landsman concurred.
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Santander and SMF Urge Global Crackdown on Fraud Amid ‘Fraudemic’ Crisis
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.
Paytm Accused Of Sharing User Data With Indian Government
PYMNTS
MAY 28, 2018
Paytm , the leading digital wallet company in India with more than 230 million customers, has reportedly shared the personal data of users with the Indian government. In response to the report, Paytm said on Friday (May 25) that it did not share user data with law enforcement agencies based on a request.
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Wirecard Probe Pushes German Government To Release Talks With CEO
PYMNTS
JULY 12, 2020
German law enforcement authorities said they have added money laundering, balance falsification and market manipulation to the charges facing the collapsed firm. .; The company reported it owed creditors nearly $4 billion after it revealed $2.1
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Three ways APP mandatory reimbursement can work for PSPs and victims of fraud and scams
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. Leadership engagement: The Government has a critical role in preventing re-victimisation. What’s next?
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Singapore Tightens China Remittance Rules in Light of S$13 Million Frozen Funds
Fintech News
DECEMBER 18, 2023
However, a small proportion of recent remittances faced freezes by Chinese law enforcement agencies, with unclear reasons behind these actions. While Singapore has no jurisdiction over the frozen beneficiary bank accounts, the government remains in close contact with the PRC government to facilitate the decision on account unfreezing.
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Which? Recommends a Fraud Minister to Tackle 40% of All UK Crime: Fraud
The Fintech Times
JUNE 11, 2024
The fight against fraud requires coordinated action across multiple government departments and business sectors. The next government must prioritise fraud by appointing a fraud minister who can drive the urgent actions needed across government and business to finally turn the tide.
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Banks, Payment Providers at High Risk for Environmental Crimes Money Laundering
Fintech News
MAY 29, 2024
This report outlines mitigation measures for government agencies, financial institutions, and Designated Non-Financial Businesses and Professionals (DNFBPs) to address these risks. Singapore’s law enforcement and supervisory agencies will remain vigilant and implement appropriate measures to mitigate these risks.
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OJK Lays Out 2024-2028 Roadmap for Digital Finance, Crypto Assets
Fintech News
AUGUST 11, 2024
Focusing on four main pillars—Regulation and Development, Supervision and Law Enforcement, Licensing, and Information and Innovation—the roadmap outlines strategic objectives to foster a robust, inclusive, and sustainable IAKD sector.
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Understanding Basics of Digital Personal Data Protection (DPDP)
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. Clause 8(1), DPDP Act. Clause 8(6), DPDP Act.)
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Data Protection Officers and Their Key Responsibilities
VISTA InfoSec
OCTOBER 21, 2024
Later onwards the concept of DPO gained prominence due to the advent of data protection regulations, as data collection becomes increasingly digitalized concerns over privacy and security also grew leading government to develop stricter regulations. and PDPA in Singapore that reflects the growing need for privacy specialists in organizations.
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Singapore’s Risk Assessment Highlights New Terrorism Financing Concerns
Fintech News
JULY 1, 2024
The evolving global terrorism landscape necessitates regular updates to Singapore’s risk assessments and counter-terrorism strategies given its status as a global financial and business hub Singapore employs a comprehensive, government-wide approach to identify, monitor, and mitigate terrorism financing risks.
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Computer Virus Brings Ohio Town’s Government To A Halt
PYMNTS
FEBRUARY 3, 2017
A virus that infected the computer system of the Licking County government offices in Ohio has shut down the entire network, including that of the local police force, and a financial demand was made to restore everything back to normal, according to TechCrunch. It’s a crime against the people of Licking County and its government.”.
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Visa sees spike in unemployment insurance fraud on prepaid cards
Payments Source
SEPTEMBER 27, 2020
And the best solution may be rooted in technology, not law enforcement. Since July, Visa has noticed an uptick in unemployment insurance fraud with prepaid cards being used as a key disbursement vehicle.
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A Third of 2023 Crypto Hacks Traces Back to North Korea, Says TRM Labs
Fintech News
JANUARY 7, 2024
Moreover, the DPRK has been continually evolving its money laundering tactics to evade international law enforcement. As US sanctions and enforcement actions targeted their previous go-to obfuscation platforms like Tornado Cash and ChipMixer, North Korea pivoted to another mixer, the BTC service Sinbad.
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The Invoice Lands In The Corporate Cyber Fraud Spotlight
PYMNTS
JULY 27, 2020
. $66,800 was swindled from a government entity in New Zealand following a cyberattack at one of its vendors , according to the New Zealand Herald. Reports said the government paid 100,600 New Zealand dollars ($66,800) into that account. Irish law enforcement reportedly arrested two men in connection to the case.
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Understanding Crypto Money Laundering, and How to Get a Handle on It
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. The United Arab Emirates has amended Federal Decree-Law No. (20)
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The Payments Association Calls on the Newly Appointed Economic Secretary to the Treasury to Reduce Mandatory APP Fraud Reimbursement to £30,000
Fintech Finance
JULY 11, 2024
It is critical that anti-fraud measures are tackled in the round, with all parties bearing some responsibility: government, law enforcement, payments providers, retail, the technology sector and consumers.” The expectation for the new government to show strong leadership is higher than ever.
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New Facial Recognition Policy Signed Into Law In Washington State
PYMNTS
APRIL 1, 2020
Washington State Governor Jay Inslee signed a bill on Tuesday (March 31) establishing specific rules – backed by Microsoft – governing facial recognition software, according to a blog by Bill Smith, president of Microsoft. In our view, this required a legal floor of responsibility, governed by the rule of law,” Smith said.
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US Treasury Proposes Sweeping New Disclosure Rules On Bitcoin, Other Cryptos
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. The rationale for the new regulations, as the government laid out in the Federal Register, is that "U.S. Treasury Department proposed sweeping new rules late Friday (Dec.
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Report: FinCEN Files Reveal Billions In Suspicious Money Flows
PYMNTS
SEPTEMBER 21, 2020
A shocking new report reveals an underworld of corruption in the world’s banks and how governments allow it to thrive, BuzzFeed News reported. government appears unable to stop it. FinCEN, a division of the U.S. told the news outlet. told the news outlet.
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111 Amazon Supports Facial Recognition Tech Legislation
PYMNTS
FEBRUARY 7, 2019
Amazon supports a national legislative framework for the use of facial recognition that “protects civil rights and ensures that governments are transparent in their use” of the technology. One was that facial recognition should follow all laws, and that law enforcement remain transparent with the public about its use.
China’s P2P Lending Crackdown Leaves $115B In Losses
PYMNTS
AUGUST 14, 2020
China’s peer-to-peer (P2P) lending sector, once 6,000 businesses strong, has been reduced to fewer than three dozen as the government tightened regulations, leaving billions in loans unpaid. Regulators and law enforcement will try their best to recoup the money, he told China Central Television Friday (Aug. 14), per the report.
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What to do if your company suffers a data breach
VISTA InfoSec
JUNE 21, 2023
The Federal Trade Commission (FTC) recommends that companies notify law enforcement as soon as possible by contacting local FBI or U.S. If you need to report another type of cybersecurity incident, you can do so via the National Cyber Security Centre or seek more guidance on the government website. Secret Service offices.
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More People Than Ever Choose Zelle with Nearly Half a Trillion Dollars Sent in First Half of 2024
Fintech Finance
OCTOBER 17, 2024
The task force will address different aspects of the fraud and scam lifecycle by sharing intelligence across industry, government, and law enforcement to increase prevention and detection; exposing and prosecuting criminals; and educating consumers on how to spot and report scams.
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IRS Offers $625K For Help Cracking Cryptocurrency Secrecy
PYMNTS
SEPTEMBER 11, 2020
As for why it's using the unusual procurement method, the agency wrote in today's release: "The federal government struggles at times with identifying ways to test, purchase and deploy innovative technology solutions. Even the U.S.
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Amazon Starts Crime Unit To Crack Down On Counterfeits
PYMNTS
JUNE 25, 2020
The unit will help law enforcement as well, bringing criminal charges when needed, the press release says. We are working hard to disrupt and dismantle these criminal networks, and we applaud the law enforcement authorities who are already part of this fight.
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Fraud in Focus: Key Insights from UK Finance’s 2024 Annual Report
Neopay
JUNE 13, 2024
The financial services sector remains proactive in protecting customers from fraud, partnering with other sectors, government bodies, and law enforcement to disrupt criminal activities. Ben Donaldson, Managing Director of Economic Crime at UK Finance, highlighted that nearly £1.2
‘Biomarker’ Produced By Date Rape Drug Could Help Law Enforcement Pursue Assailants
CB Insights
SEPTEMBER 20, 2017
That means that by the time a person reports being drugged with GHB, it’s often too late for law enforcement officials to prove the victim was given the drug. . The US government classifies GHB as a Schedule 1 substance alongside drugs like heroin and LSD, but it is far harder to detect than most narcotics or hallucinogens.
Binance on the Hunt for Top Compliance and Investigation Talent to Match Industry Growth
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.
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Deep Dive: Digital Driver’s Licenses Hit The Road
PYMNTS
MARCH 12, 2020
These initiatives are successful only when central governments already issue traditional identification credentials, however, something that is notably lacking in the U.S. citizens, and they can be used for everything from entering bars to proving one’s identity to law enforcement. Legal Issues Regarding Law Enforcement.
What Will AI Legislation Look Like? Two Maryland Bills Offer a Clue
Innovative Payments Association
FEBRUARY 14, 2024
As artificial intelligence worms its way into more aspects of our lives, laws and regulations governing its use will become necessary. We can’t uninvent technology, so the only thing that protects us from the worst aspects of it are the agreements that we make as a society – namely laws and regulations.
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Virginia Man Pleads Guilty To $2.5 Million PPP Swindle
PYMNTS
JANUARY 31, 2021
The Associated Press , however, quoted his lawyer, Kevin Carroll, as having said Kindambu “looks forward to making the necessary restitution to the government and taxpayers.”. “At Even as the government proceeds with cases such as Kindambu’s, the version of the PPP recently approved by lawmakers remains vulnerable to fraud.
Amazon Investors Rally Against Gov’t Use Of Facial Recognition Tech
PYMNTS
JANUARY 18, 2019
Some Amazon shareholders have sent a letter to the company, according to CNBC , demanding that it stop selling its facial recognition software to government agencies. “Sales of Rekognition to government[s] represent considerable risk for the company and investors. That’s why it’s imperative those sales be halted immediately.”.
Report: Purported COVID-19 Vaccines Hit Dark Web
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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Amazon: US Gov Asked For More Data This Year
PYMNTS
AUGUST 1, 2019
government requested more data than it had in the six months before, according to a report by TechCrunch. Amazon does not disclose customer information in response to government demands unless we’re required to do so to comply with a legally valid and binding order,” the company said.
Louisiana School Cyberattacks Trigger State Of Emergency
PYMNTS
JULY 28, 2019
Federal law enforcement is helping in the investigation. The district staff reported this electronic viral attack to local law enforcement, state officials and the FBI. An investigation involving local, state and federal law enforcement is ongoing at this time.”. As a result, Gov.
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