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

Digital Fraud Tracker: Explaining Third- and First-Party Fraud
Digital Fraud Tracker: Explaining Third- and First-Party Fraud
February 11, 2022  |  Fraud Attack

These days, banks, businesses, government entities and individuals are at constant risk of digital fraud. Its volume and costs continue to expand, even as more...

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Ransomware Reaches Beyond Money With More Sinister Goals
Ransomware Reaches Beyond Money With More Sinister Goals
February 11, 2022  |  Cybersecurity

Ransomware activity related to cryptocurrency is most often associated with the release of malware that encrypts a victim’s information — usually a major corporation —...

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PYMNTS Crypto Crime Series: Bitfinex Using $3.6B Seized in Hacking Arrests to Cover Shadow Banking Losses
PYMNTS Crypto Crime Series: Bitfinex Using $3.6B Seized in Hacking Arrests to Cover Shadow Banking...
February 09, 2022  |  Cryptocurrency

The timing of the arrests of Ilya Lichtenstein and Heather Morgan on charges that they stole $4.5 billion in bitcoin from cryptocurrency exchange Bitfinex in...

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When It Comes to Payments Fraud, Criminals Are Going Big
When It Comes to Payments Fraud, Criminals Are Going Big
January 26, 2022  |  Fraud Attack

Thirty percent of chief financial officers are responsible for their organization’s IT departments, but that doesn’t mean finance departments and IT operations are always working...

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China to Renew Money Laundering Crackdown
China to Renew Money Laundering Crackdown
January 26, 2022  |  Regulation

After stepping up enforcing regulations in recent years, China is planning to launch a nationwide crackdown on money laundering, Bloomberg reported. Get the Full Story...

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UK Economic Crime Tops What Gov’t Spends to Fight It, Data Shows
UK Economic Crime Tops What Gov’t Spends to Fight It, Data Shows
January 23, 2022  |  International

A report from anti-graft charity Spotlight on Corruption says economic crime in the U.K. ends up costing the government “hundreds of times more” than the...

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North Korean Hackers Swiped $400M in Crypto Last Year
North Korean Hackers Swiped $400M in Crypto Last Year
January 14, 2022  |  Cryptocurrency

Hackers from North Korea swiped close to $400 million in cryptocurrencies across at least seven cyberattacks that targeted investment firms and centralized exchanges, with 58%...

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Stablecoin Issuer Tether Freezes $1M in USDT
Stablecoin Issuer Tether Freezes $1M in USDT
January 04, 2022  |  Cryptocurrency

Top stablecoin issuer Tether froze more than $1 million worth of USDT in a private digital wallet last week, effectively making it unusable.  Get the...

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Swiss Bank UBS Takes Appeal of Money Laundering Verdict to French Supreme Court
Swiss Bank UBS Takes Appeal of Money Laundering Verdict to French Supreme Court
December 20, 2021  |  International

UBS has filed an appeal over a Paris court’s decision that upheld the company’s conviction for money laundering, Reuters reported Monday (Dec. 20). Get the...

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