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

LHV UK Fights Push Payment Fraud With Confirmation of Payee Service

LHV UK Fights Push Payment Fraud With Confirmation of Payee Service
LHV UK Fights Push Payment Fraud With Confirmation of Payee Service
June 14, 2022  |  Cybersecurity

Banking services provider LHV UK is fighting authorized push payment (APP) fraud with the integration of the Confirmation of Payee (CoP) service, now live for...

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Treasury Dept Sec: Crypto Wallet ID Rules Will Allow Innovation
Treasury Dept Sec: Crypto Wallet ID Rules Will Allow Innovation
June 10, 2022  |  Cryptocurrency

A proposal being reviewed by the U.S. Treasury Department that would ID who controls unhosted cryptocurrency wallets would also allow innovations related to fighting financial...

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Fixing Retail’s $600 Billion False Declines Problem When Fighting Fraud
Fixing Retail’s $600 Billion False Declines Problem When Fighting Fraud
May 27, 2022  |  Cybersecurity

Fighting fraud and pushing back cybercriminals has become the central focus of cybersecurity – and for very good reason. Cybercriminals have proven themselves to be...

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Today in Crypto: Binance, OKX Delist LUNA and UST; International Investigators Suspect $1B Crypto Ponzi Scheme
Today in Crypto: Binance, OKX Delist LUNA and UST; International Investigators Suspect $1B Crypto Ponzi...
May 15, 2022  |  Cryptocurrency

Binance announced Friday (May 13) that it is suspending spot trading for LUNA and UST, which will be lifted when the network becomes stable. Get...

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ThetaRay Partners with Qolo to Fight Financial Crime
ThetaRay Partners with Qolo to Fight Financial Crime
May 03, 2022  |  Partnerships

AI-powered cybersecurity firm ThetaRay is teaming up with omnichannel B2B payments startup Qolo to detect and prevent financial crimes across Qolo’s full range of curated...

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Deutsche Bank Headquarters Raided by German Authorities in Money Laundering Probe
Deutsche Bank Headquarters Raided by German Authorities in Money Laundering Probe
May 01, 2022  |  Legal & Regulation

Deutsche Bank had its Frankfurt headquarters raided by Germany’s federal police office, criminal prosecutors and financial watchdog BaFin on Friday (April 29), the Financial Times...

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Crypto’s Furtive Past on Display With Guilty Plea in $750M Shadow Banking Case
Crypto’s Furtive Past on Display With Guilty Plea in $750M Shadow Banking Case
April 27, 2022  |  Cryptocurrency

An alleged shadow banker for cryptocurrency exchanges is facing up to 90 years in jail after pleading guilty to bank fraud, bank fraud conspiracy and...

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Federal Jury Convicts Man for Defrauding American Express of $4.7M
Federal Jury Convicts Man for Defrauding American Express of $4.7M
April 27, 2022  |  Legal & Regulation

A California man has been convicted by a federal jury for reportedly defrauding American Express for over $4.7 million and money laundering, according to a...

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