Frank founder Charlie Javice’s attorneys said she can’t hide assets because they’ve been seized. The attorneys said this in a Friday (April 21) court filing in response to JPMorgan Chase’s (JPMC’s) request that they be allowed to question Javice under oath about transfers of millions...
The United Kingdom’s financial watchdog wants to stop money laundering through the Post Office, a retail company that provides products and services, including postage stamps and banking. The Financial Conduct Authority (FCA) is working with other organizations to improve controls to make sure customers can...
Federal officials have charged 18 people in a wide-ranging series of COVID fraud cases. The defendants are accused of taking part in a variety of schemes to exploit healthcare services during the pandemic, and allegedly led to more than $490 million in COVID-19 related false...
NICE Actimize has added Suspicious Activity Monitoring (SAM-10) to its Anti-Money Laundering (AML) solutions. The new SAM-10 features artificial intelligence (AI)-based AML transaction monitoring and multilayered analytics to detect more suspicious activity, reduce false positives and complement the company’s other AML solutions for financial institutions,...
A proposed consent decree will prohibit Nexway from providing credit card laundering for tech support scammers. The Federal Trade Commission (FTC) has filed proposed consent decrees in which the multinational payment processing company and its subsidiaries, an associated company, and two of its executives have...
NCR has been hit by a ransomware attack that is affecting the capabilities of some restaurants. The incident was discovered Thursday (April 13), caused a single data center outage and has impacted the company’s Aloha point-of-sale (POS) system for restaurants and its Counterpoint retail management system,...
Transaction disputes are massing across digital channels. Mike Lemberger, head of risk for North America at Visa, told PYMNTS that friendly fraud, also known as first-party fraud, accounts for as much as 16% of fraud disputes, as estimated by Merchant Risk Council. With a nod...
A former investment banker has been arrested and charged with wire fraud in connection with an alleged cryptocurrency fraud. Rashawn Russell, who was a Financial Industry Regulatory Authority-registered broker, has been charged with one count of wire fraud related to his alleged role in the...
Tracking items instead of people is gaining steam with some retailers, but the strategy may not work for most products. As reported by The Wall Street Journal (WSJ) March 28, some clothing and accessories merchants are rethinking their in-store inventory systems. Navigating both security and...
