money laundering

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Source: en.wikipedia.org

DOJ Alleges Man Faked 120 Employees To Get $3M PPP Loan
DOJ Alleges Man Faked 120 Employees To Get $3M PPP Loan
June 23, 2020  |  Security & Fraud

A 44-year-old Texas man, Fahad Shah, was charged with fraud for allegedly attempting to file fake loan applications for the Paycheck Protection Program (PPP), according...

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New Zealand Seizes $90M In Bitcoin Fraud Case
New Zealand Seizes $90M In Bitcoin Fraud Case
June 22, 2020  |  Security & Fraud

New Zealand police have frozen $90 million they say belongs to alleged bitcoin scammer Alexander Vinnik in what’s being called the country’s largest money seizure ever....

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Bitcoin Daily: Xapo Stops Credit Payments for Crypto; Former CoinFlux Owner Pleads In Crypto-Laundering Case
Bitcoin Daily: Xapo Stops Credit Payments for Crypto; Former CoinFlux Owner Pleads In Crypto-Laundering Case
June 14, 2020  |  Bitcoin

Xapo, a crypto wallet and bitcoin custodian, will no longer deal in credit card payments for digital asset purchases, according to an email from the...

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Bitcoin Daily: Bank Of Ghana Eyes Digital Currency; 4,000 Crypto Trader Accounts Now Frozen In China Probe
Bitcoin Daily: Bank Of Ghana Eyes Digital Currency; 4,000 Crypto Trader Accounts Now Frozen In...
June 10, 2020  |  Bitcoin

The Bank of Ghana continues to consider the creation of a digital currency, GhanaWeb reported. Get the Full Story Complete the form to unlock this...

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Bitcoin Daily: China Freezes Thousands Of Crypto Accounts Amid Criminal Probe
Bitcoin Daily: China Freezes Thousands Of Crypto Accounts Amid Criminal Probe
June 08, 2020  |  Bitcoin

Authorities in China have reportedly frozen bank accounts due to digital currency and fiat assets allegedly contaminated by illicit actions, CoinDesk reported. Get the Full...

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Fostering FinTech-FI Trust With Data-Driven Security
Fostering FinTech-FI Trust With Data-Driven Security
June 05, 2020  |  AML

Open banking can unlock seamless payment experiences for legitimate customers, but also for money launderers as well. As a result, many financial institutions (FIs) are...

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Deep Dive: How FIs Are Confronting Data Lag, Inadequacies In The Face Of Sophisticated Fraudsters
Deep Dive: How FIs Are Confronting Data Lag, Inadequacies In The Face Of Sophisticated Fraudsters
May 06, 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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Bitcoin Daily: Block.one Gets Patent For DLT That Monetizes Social Media Posts; Bitfinex Seeks US Subpoenas To Track Down $800M In User Funds
Bitcoin Daily: Block.one Gets Patent For DLT That Monetizes Social Media Posts; Bitfinex Seeks US...
May 03, 2020  |  Bitcoin

Block.one, which is behind the EOSIO (EOS) protocol, now has a patent for a blockchain-based bidding system for promotional exposure for social media, according to...

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India’s Yes Bank Founder Held On Fraud Charges
India’s Yes Bank Founder Held On Fraud Charges
March 09, 2020  |  Security & Fraud

Yes Bank founder Rana Kapoor was arrested on money-laundering charges amid efforts to formulate a rescue plan for the country’s fourth-largest private lender, Reuters reported...

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