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

IRS Seizes $3.5B in Crypto in FY 2021
IRS Seizes $3.5B in Crypto in FY 2021
November 19, 2021  |  Security & Fraud

The Internal Revenue Service (IRS) seized $3.5 billion in cryptocurrencies during the fiscal year 2021, accounting for 93% of the assets seized during the year....

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DeFi Losses Top $10B From Exploits, Fraud, Theft
DeFi Losses Top $10B From Exploits, Fraud, Theft
November 19, 2021  |  Security & Fraud

Decentralized finance (DeFI) platforms have been the target of criminal attacks, with fraud and theft topping $10 billion, according to a report entitled Risk, Regulation,...

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Bitcoin Daily: Canadian Youth Arrested in $36M Bitcoin Heist; Willston, ND Puts Bitcoin ATM in Airport
Bitcoin Daily: Canadian Youth Arrested in $36M Bitcoin Heist; Willston, ND Puts Bitcoin ATM in...
November 18, 2021  |  Bitcoin

An unnamed Canadian minor has been charged in a $36 million digital heist that authorities said is the largest-ever bitcoin theft from a lone victim,...

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Nedap Launches Cloud-Based Loss Prevention Tool to Prevent Retail Theft
Nedap Launches Cloud-Based Loss Prevention Tool to Prevent Retail Theft
November 18, 2021  |  Security & Fraud

Radio frequency identification (RFID) firm Nedap has debuted its iD Cloud Loss Prevention, a cloud-based Software-as-a-Service (SaaS) program that enables merchants to recognize, assess and...

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US Liquidating $56M in BitConnect Fraud Case
US Liquidating $56M in BitConnect Fraud Case
November 17, 2021  |  Security & Fraud

The U.S. Justice Department is set to begin liquidating roughly $56 million in fraud proceeds seized during its investigation into the cryptocurrency BitConnect. According to...

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ACI Worldwide Rolls out New Tech to Fight Real-Time Payments Fraud
ACI Worldwide Rolls out New Tech to Fight Real-Time Payments Fraud
November 15, 2021  |  Security & Fraud

ACI Worldwide is introducing its proprietary Network Intelligence Technology to give banks and payment providers the ability to share fraud signals and better use machine...

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Check Fraud Accounts for 60% of Attempted Bank Account Theft
Check Fraud Accounts for 60% of Attempted Bank Account Theft
November 12, 2021  |  Security & Fraud

Banking customers’ expectations of their financial institutions (FIs) are changing as more transactions and activity go digital — at warp speed. “Staying on top of...

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Arrests Made in REvil Cyberattacks
Arrests Made in REvil Cyberattacks
November 09, 2021  |  Cybersecurity

Multiple arrests have been made recently as part of a nationwide ransomware sting, according to a Tuesday (Nov. 9) report from NBC News. The U.S....

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Retailers Getting Hit With $90B of Bogus Returns, Promo Abuse
Retailers Getting Hit With $90B of Bogus Returns, Promo Abuse
November 05, 2021  |  Retail

Losing over 2% of revenue each year would be cause for great concern for most consumers — yet for many eCommerce businesses, it’s a fact...

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