Financial Crime

Financial crime is defined as crime that is specifically committed against property. These crimes are almost always committed for the personal benefit of the criminal, and they involve an illegal conversion of ownership of the property that is involved.

Source: complyadvantage.com

Hacktober’s $718M Losses Are an Existential Threat to DeFi
Hacktober’s $718M Losses Are an Existential Threat to DeFi
October 26, 2022  |  Cryptocurrency

October hasn’t been kind to crypto, with $730 million lost to 18 hacks this month alone, driving the 2022 total loss to $3 billion. Get...

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Korean Regulators to Probe Stablecoin, Money Laundering Link
Korean Regulators to Probe Stablecoin, Money Laundering Link
October 24, 2022  |  AML

In a bid to stop money launderers, South Korea’s Financial Services Commission (FSC) is planning a probe into the amount of stablecoins being used on...

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Diebold Nixdorf Teams With Featurespace on Fraud Prevention Tech Integration
Diebold Nixdorf Teams With Featurespace on Fraud Prevention Tech Integration
October 23, 2022  |  Security & Fraud

Retail technology company Diebold Nixdorf has joined forces with financial crime prevention firm Featurespace to integrate Featurespace’s fraud prevention tech into Diebold Nixdorf’s Vynamic Payments...

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Cyberattacks on Healthcare Payment Processors Escalating
Cyberattacks on Healthcare Payment Processors Escalating
September 15, 2022  |  Cybersecurity

Cyberattacks on healthcare payment processors are escalating, with multiple reports of victims’ payments being redirected by thieves using employees’ publicly-available Personally Identifiable Information (PII) and...

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US Treasury Blacklists Bitcoin Addresses Linked to Iranian Ransomware Group
US Treasury Blacklists Bitcoin Addresses Linked to Iranian Ransomware Group
September 14, 2022  |  Legal

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned 10 individuals and two entities for their roles in ransomware activity, cyber-espionage and...

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62% of Large Banks Report Increases in Financial Crime
62% of Large Banks Report Increases in Financial Crime
September 13, 2022  |  Security & Fraud

Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

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Blockchain Emerges as Transparent Crime-Fighting Tool in Emerging Markets 
Blockchain Emerges as Transparent Crime-Fighting Tool in Emerging Markets 
September 01, 2022  |  Cryptocurrency

Despite the huge appetite for digital assets in emerging markets, promoting their adoption and mainstream accessibility have been far from smooth sailing. Get the Full...

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Secret Service Recovers $286M in COVID Aid Stolen by ID Fraud
Secret Service Recovers $286M in COVID Aid Stolen by ID Fraud
August 28, 2022  |  Security & Fraud

The Secret Service has reportedly recovered $286 million in COVID-19 relief funds that had been obtained illegally by people using fake identities. Get the Full...

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Crypto-Related Crime Less Common, Easier to Track, Says Chainalysis
Crypto-Related Crime Less Common, Easier to Track, Says Chainalysis
August 11, 2022  |  Cryptocurrency

Last week, the number of unique cryptocurrency addresses passed the 1 billion mark. Get the Full Story Complete the form to unlock this article and...

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