Tether has disputed a media report that its stablecoin is increasingly being used for illicit activities. The Wall Street Journal (WSJ) reported Friday (Oct. 27) that the stablecoin Tether is increasingly being used in money laundering, terror financing and sanctions evasion. The report cited information from indictments, blockchain...
TD Bank has disclosed that it is cooperating with inquiries from regulators and law enforcement regarding its compliance with anti-money laundering rules. The bank made this disclosure in its report to shareholders for the third quarter that was released Thursday (Aug. 24), stating that it may face penalties...
The Financial Crimes Enforcement Network (FinCEN) is warning banks of a nationwide surge in check fraud. “Criminals have been increasingly targeting the U.S. Mail and United States Postal Service mail carriers since the COVID-19 pandemic to commit check fraud,” the agency said in a Monday...
The number of ransomware attacks reported by financial institutions (FIs) and occurring in 2021 was double the number that occurred during the previous year. The number leapt 108% from 602 in 2020 to 1,251 in 2021, the Financial Crimes Enforcement Network (FinCEN) reported Tuesday (Nov....
June 29, 2020
The pandemic has spurred businesses — by necessity — to use digital means to interact with their employees and to keep operations humming. And the great shift to digital is also changing the way employers are paying their employees. As Laura Valdespino, director of compliance solutions at ADP, told PYMNTS in a recent interview, using […]
November 22, 2023
Fraud related to COVID-19 relief programs continues to occur “at a concerning scale.” Andrea Gacki, director of the Financial Crimes Enforcement Network (FinCEN), said this in a Thursday (Nov. 22) press release announcing the issuance of an alert to financial institutions on fraud schemes related to the COVID-19 Employee Retention Credit (ERC). The alert was […]
October 27, 2023
Tether has disputed a media report that its stablecoin is increasingly being used for illicit activities. The Wall Street Journal (WSJ) reported Friday (Oct. 27) that the stablecoin Tether is increasingly being used...
August 24, 2023
TD Bank has disclosed that it is cooperating with inquiries from regulators and law enforcement regarding its compliance with anti-money laundering rules. The bank made this disclosure in its report to shareholders for...
February 27, 2023
The Financial Crimes Enforcement Network (FinCEN) is warning banks of a nationwide surge in check fraud. “Criminals have been increasingly targeting the U.S. Mail and United States Postal Service mail...
