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

Synthetic ID Fraud Becomes An Authentic Problem; Hits 60 Percent Of All Businesses
Synthetic ID Fraud Becomes An Authentic Problem; Hits 60 Percent Of All Businesses
January 29, 2021  |  Security & Fraud

Synthetic identity fraud has been called one of the fastest-growing financial crimes in the U.S., costing financial institutions (FIs) north of $6 billion a year....

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Calif. Seeks Federal Help With Massive ID Fraud Within Unemployment Claims
Calif. Seeks Federal Help With Massive ID Fraud Within Unemployment Claims
January 26, 2021  |  Security & Fraud

Sophisticated identity thieves from Russia and Nigeria are being blamed for a spate of fraudulent unemployment claims that may have caused as much as $30...

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Today In Payments: LendingClub Gets OK To Acquire Radius Bancorp; GDPR Penalties Escalate As EU Officials Crack Down
Today In Payments: LendingClub Gets OK To Acquire Radius Bancorp; GDPR Penalties Escalate As EU...
January 19, 2021  |  News

In today’s top news, LendingClub gets approval to acquire Radius Bancorp, and GDPR fines have escalated as European regulators step up enforcement. And Plaid plans...

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Rakuten Mobile Employee Arrested, Accused Of Stealing SoftBank Secrets
Rakuten Mobile Employee Arrested, Accused Of Stealing SoftBank Secrets
January 12, 2021  |  Security & Fraud

An ex-employee of SoftBank, a major Japanese wireless carrier, was reportedly arrested on Tuesday (Jan. 12) on suspicion of stealing trade secrets before taking a...

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CSI, Featurespace Team Up To Fight Money Laundering
CSI, Featurespace Team Up To Fight Money Laundering
November 30, 2020  |  Security & Fraud

Computer Services, Inc. (CSI) is partnering with Featurespace to advance a new cybercrime solution to fight money laundering. Get the Full Story Complete the form...

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Detecting And Preventing Cyberfraud Amid Large Transaction Volumes
Detecting And Preventing Cyberfraud Amid Large Transaction Volumes
November 17, 2020  |  Security & Fraud

Over 60 percent of banks say fraud volumes are rising, with over 40 percent reporting that average fraud hit value is going up. Under COVID,...

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Deep Dive: How FIs And Merchants Are Pushing Back Against Push Payment Fraud
Deep Dive: How FIs And Merchants Are Pushing Back Against Push Payment Fraud
November 17, 2020  |  Fraud Prevention

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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Cybercrime Botnet Chief Ordered To Prison In $100M Scheme
Cybercrime Botnet Chief Ordered To Prison In $100M Scheme
November 03, 2020  |  Security & Fraud

A Russian cybercriminal was sentenced to eight years in prison for his role in a sophisticated Botnet conspiracy that caused estimated losses totaling more than...

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Oracle Launches New Cybersecurity Apps To Help Small Banks
Oracle Launches New Cybersecurity Apps To Help Small Banks
October 28, 2020  |  Risk Management

Enterprise IT solutions platform Oracle is introducing new cloud services to provide smaller banks with the ammunition to fight large-scale money laundering schemes, Oracle said...

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