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

Founder of My Big Coin Convicted of Fraud

Founder of My Big Coin Convicted of Fraud
Founder of My Big Coin Convicted of Fraud
July 22, 2022  |  Cryptocurrency

A federal jury has convicted the founder of cryptocurrency company My Big Coin of cheating investors out of more than $6 million by selling them...

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Banks’ Increased Liabilities on P2P Fraud May Have Silver Lining
Banks’ Increased Liabilities on P2P Fraud May Have Silver Lining
July 19, 2022  |  Cybersecurity

Call it a reset on how the Consumer Financial Protection Bureau (CFPB) views authorized P2P fraud — and by extension, just who’s on the hook...

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Anti-Fraud and Anti-Money Laundering: Two Sides of the Same Coin
Anti-Fraud and Anti-Money Laundering: Two Sides of the Same Coin
July 06, 2022  |  AML

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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Today in Crypto: OneCoin Founder Ruja Ignatova Added to FBI’s Most Wanted List; Report: FTX Nears Deal to Acquire BlockFi
Today in Crypto: OneCoin Founder Ruja Ignatova Added to FBI’s Most Wanted List; Report: FTX...
June 30, 2022  |  Cryptocurrency

The founder of OneCoin, Ruja Ignatova, is now on the FBI’s Ten Most Wanted list after she allegedly defrauded over $4 billion from investors, CoinDesk...

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DOJ Charges of NFT Insider Trading Show New Digital Focus, Report Says
DOJ Charges of NFT Insider Trading Show New Digital Focus, Report Says
June 29, 2022  |  Legal & Regulation

As the first Department of Justice indictment comes down on an insider trading scheme for non-fungible tokens (NFTs), it remains to be seen how the...

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Spike in Friendly Fraud Triggers Review of Chargeback Mechanisms
Spike in Friendly Fraud Triggers Review of Chargeback Mechanisms
June 15, 2022  |  Cybersecurity

First-party misuse — known as “friendly” fraud — can be difficult to detect, and reducing it is a delicate matter of telling true policy abusers...

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US, UK Encourage Privacy-Enhancing Innovation to Combat Money Laundering
US, UK Encourage Privacy-Enhancing Innovation to Combat Money Laundering
June 15, 2022  |  AML

The U.S. and U.K. governments announced on Monday (June 13) a new joint initiative to encourage the development of privacy-enhancing technology (PET) that could be...

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LHV UK Fights Push Payment Fraud With Confirmation of Payee Service
LHV UK Fights Push Payment Fraud With Confirmation of Payee Service
June 14, 2022  |  Cybersecurity

Banking services provider LHV UK is fighting authorized push payment (APP) fraud with the integration of the Confirmation of Payee (CoP) service, now live for...

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