To the hammer of a bad actor, everything vulnerable looks like a nail. And with the rise of sophisticated fraud techniques, organizations like financial institutions that are operating within security-critical sectors are increasingly faced with the daunting task of safeguarding against a shifting mix of...
Each year, money launders funnel $2 trillion in ill-gotten gains into the financial system. And a lot of that money travels by air, in cash, often in people’s suitcases, The Wall Street Journal (WSJ) reported Sunday (April 21). The report cited figures from the United...
Despite the prevalence of digital alternatives, checks continue to be a preferred payment method for many organizations. PYMNTS Intelligence research underscores this trend, revealing that checks constitute a significant portion of business-to-business (B2B) transactions across various industries. In real estate, nearly 21% of B2B transactions...
Federal authorities are warning banks against the rising threat of passport card fraud. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Department of State’s Diplomatic Security Service (DSS) issued a notice to financial institutions Monday (April 15), urging them to be on the lookout for suspicious...
April 23, 2024
To the hammer of a bad actor, everything vulnerable looks like a nail. And with the rise of sophisticated fraud techniques, organizations like financial institutions that are operating within security-critical sectors are increasingly faced with the daunting task of safeguarding against a shifting mix of fraudulent attack strategies from adversaries and criminals — both online […]
January 30, 2023
The U.S. Treasury Department is flexing its cryptocurrency enforcement muscles as industry attention grows. The turbulent crypto sector has historically suffered from the perception that its anonymous and decentralized technical...
May 06, 2022
For a few weeks in April, experts in digital identity from banks, vendors, FinTech, law firms and regulators worked in the Digital Identity Tech Spring to develop ideas about how to...
April 28, 2022
A few weeks ago, the Federal Deposit Insurance Corporation (FDIC) and the Financial Crimes Enforcement Network (FinCEN) organized a Tech Sprint, inviting experts from the private and public sector to...
May 16, 2024
Online notarization firm Proof has launched a partnership with digital identity verification provider Socure. The collaboration, announced Thursday (May 16), is aimed at preventing fraud in consumer agreements and forms, which the companies call a $200 trillion market opportunity. “Industries are fighting an ever-increasing risk of fraud across their entire customer lifecycle,” the companies said in a news release, citing […]
April 21, 2024
Each year, money launders funnel $2 trillion in ill-gotten gains into the financial system. And a lot of that money travels by air, in cash, often in people’s suitcases, The...
April 15, 2024
Federal authorities are warning banks against the rising threat of passport card fraud. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Department of State’s Diplomatic Security Service (DSS) issued a...
April 11, 2024
Morgan Stanley is reportedly facing investigations by several agencies into how its wealth management division vets and monitors clients who may pose money-laundering risks. The Securities and Exchange Commission (SEC), the Office of the...
