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

South Korea’s Crypto ‘Kimchi Premium’ Suspected in $3.4B FX Investigation

South Korea’s Crypto ‘Kimchi Premium’ Suspected in $3.4B FX Investigation
South Korea’s Crypto ‘Kimchi Premium’ Suspected in $3.4B FX Investigation
July 28, 2022  |  Cryptocurrency

When people talk about illicit Korean cryptocurrency transactions, people tend to think of North Korean hackers stealing billions in bitcoin to fund the country’s nuclear...

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Report: South Africa’s Biggest Banks at Risk for Money Laundering
Report: South Africa’s Biggest Banks at Risk for Money Laundering
July 26, 2022  |  Banking

The South African banking regulator has warned that the country’s banking industry is at risk of becoming ensnared in money laundering and terrorist financing activity....

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Founder of My Big Coin Convicted of Fraud
Founder of My Big Coin Convicted of Fraud
July 22, 2022  |  Cryptocurrency

A federal jury has convicted the founder of cryptocurrency company My Big Coin of cheating investors out of more than $6 million by selling them...

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Banks’ Increased Liabilities on P2P Fraud May Have Silver Lining
Banks’ Increased Liabilities on P2P Fraud May Have Silver Lining
July 19, 2022  |  Cybersecurity

Call it a reset on how the Consumer Financial Protection Bureau (CFPB) views authorized P2P fraud — and by extension, just who’s on the hook...

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Anti-Fraud and Anti-Money Laundering: Two Sides of the Same Coin
Anti-Fraud and Anti-Money Laundering: Two Sides of the Same Coin
July 06, 2022  |  AML

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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Today in Crypto: OneCoin Founder Ruja Ignatova Added to FBI’s Most Wanted List; Report: FTX Nears Deal to Acquire BlockFi
Today in Crypto: OneCoin Founder Ruja Ignatova Added to FBI’s Most Wanted List; Report: FTX...
June 30, 2022  |  Cryptocurrency

The founder of OneCoin, Ruja Ignatova, is now on the FBI’s Ten Most Wanted list after she allegedly defrauded over $4 billion from investors, CoinDesk...

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DOJ Charges of NFT Insider Trading Show New Digital Focus, Report Says
DOJ Charges of NFT Insider Trading Show New Digital Focus, Report Says
June 29, 2022  |  Legal & Regulation

As the first Department of Justice indictment comes down on an insider trading scheme for non-fungible tokens (NFTs), it remains to be seen how the...

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Spike in Friendly Fraud Triggers Review of Chargeback Mechanisms
Spike in Friendly Fraud Triggers Review of Chargeback Mechanisms
June 15, 2022  |  Cybersecurity

First-party misuse — known as “friendly” fraud — can be difficult to detect, and reducing it is a delicate matter of telling true policy abusers...

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