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

After Coinbase Hack, Authentication Expert Says, ‘We Should Be Moving To FIDO’

After Coinbase Hack, Authentication Expert Says, ‘We Should Be Moving To FIDO’
After Coinbase Hack, Authentication Expert Says, ‘We Should Be Moving To FIDO’
October 05, 2021  |  Authentication

When hackers stole cryptocurrency from the accounts of 6,000 Coinbase customers between March and May of this year, the trading platform said the perpetrator used...

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Hackers Swiped Crypto From 6K+ Coinbase Users
Hackers Swiped Crypto From 6K+ Coinbase Users
October 01, 2021  |  Cybersecurity

Cryptocurrency hackers stole from at least 6,000 Coinbase Global accounts in a hack between March and May 20, according to a breach notification letter sent...

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UK Bank Lobby Group: Fraud Threatens National Security  
UK Bank Lobby Group: Fraud Threatens National Security  
September 22, 2021  |  Fraud Prevention

Increasing incidents of fraud against online shoppers and digital banking newcomers across Britain since the start of the COVID-19 pandemic is “a national security threat”...

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PYMNTS Data: FIs’ Adoption of Fraud Detection Tech Has Tripled Since 2018
PYMNTS Data: FIs’ Adoption of Fraud Detection Tech Has Tripled Since 2018
September 15, 2021  |  Fraud Prevention

Financial institutions (FIs) want to reduce fraud, but at the same time don’t want to create false positives, which is the flagging of legitimate customers...

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OCC Begins Public Civil Trial Against Former Wells Fargo Execs
OCC Begins Public Civil Trial Against Former Wells Fargo Execs
September 13, 2021  |  Bank Regulation

A civil trial began on Monday (Sept. 13) against three former Wells Fargo executives for their alleged roles in the bank’s misconduct scandal, the Office...

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Retailers Fight Theft Rings That Steal and Resell Goods Online
Retailers Fight Theft Rings That Steal and Resell Goods Online
September 02, 2021  |  Cybersecurity

When finding deals online at a lower cost than in-store, it could mean eCommerce sellers are peddling stolen goods, according to a Thursday (Sept. 2)...

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LexisNexis Risk Solutions Adds Anti-Fraud Platform TruNarrative
LexisNexis Risk Solutions Adds Anti-Fraud Platform TruNarrative
August 25, 2021  |  Cybersecurity

LexisNexis Risk Solutions UK Limited, part of RELX, on Wednesday (Aug. 25) announced it has acquired cloud-based anti-financial crime and anti-fraud platform TruNarrative, which will...

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Poly Network Hacker Returns $610M In Stolen Crypto
Poly Network Hacker Returns $610M In Stolen Crypto
August 23, 2021  |  Cybersecurity

Days after the cryptocurrency platform Poly Network issued a $500,000 reward for the return of $610 million in stolen funds, the purported hacker returned the...

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