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

Stablecoin Tether Faces DOJ Probe
Stablecoin Tether Faces DOJ Probe
July 26, 2021  |  Security & Fraud

The U.S. Department of Justice (DOJ) is doing a deep dive into Tether to ascertain whether the bosses behind the stablecoin held back information from...

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Feds Bust Maryland Unemployment Fraud Ring Amid Scrutiny Of Illicit Payments
Feds Bust Maryland Unemployment Fraud Ring Amid Scrutiny Of Illicit Payments
July 16, 2021  |  Security & Fraud

It’s been a banner year for fraudsters attacking the suddenly bloated unemployment program, as a top federal government watchdog estimates that as much as $26...

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UK Cops Seize $249M In Crypto Crackdown
UK Cops Seize $249M In Crypto Crackdown
July 13, 2021  |  Security & Fraud

British police have confiscated close to £180 million — or $249 million — in cryptocurrency, the largest such seizure in the country’s history, CNN reported...

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JPMorgan, Citi, Other Banks May Face Suit In UK For Alleged Exchange Rigging
JPMorgan, Citi, Other Banks May Face Suit In UK For Alleged Exchange Rigging
July 12, 2021  |  Legal

Two courts in London are reviewing two different versions of a £1billion ($1.4 billion) class-action lawsuit alleging foreign exchange price manipulation by at least five...

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Today In Payments: Pine Labs Notches $600M At $3.5B Valuation; Pleo Closes $150M Funding Deal At $1.7B Valuation
Today In Payments: Pine Labs Notches $600M At $3.5B Valuation; Pleo Closes $150M Funding Deal...
July 06, 2021  |  News

In today’s top news, merchant commerce firm Pine Labs is now valued at $3.5 billion, and FinTech Pleo raised $150 million. Plus, Klarna is being...

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EU Institutions Hit With ‘Significant’ Cyberattack
EU Institutions Hit With ‘Significant’ Cyberattack
April 06, 2021  |  Security & Fraud

A number of European Union institutions — among them the European Commission — were the target of a “significant” cyberattack last week, Bloomberg reported on...

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US Pandemic Scams, Fraud Cost Consumers $382 Million
US Pandemic Scams, Fraud Cost Consumers $382 Million
March 24, 2021  |  Security & Fraud

As COVID-19 stimulus funds continue hitting bank accounts and mailboxes, a new Federal Trade Commission (FTC) report is alerting people to beware of pandemic-related scams,...

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New FBI Report Details Shifts In Cybercrime And Strategies To Fight It
New FBI Report Details Shifts In Cybercrime And Strategies To Fight It
March 19, 2021  |  Security & Fraud

Everyone has heard of the CIA, and even the U.K.’s MI6. But what about IC3? Or the RAT team? No, they’re not organizations that will...

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Fraudsters Use Telegram To Execute Restaurant Scam
Fraudsters Use Telegram To Execute Restaurant Scam
February 11, 2021  |  Security & Fraud

Digital trust and safety company Sift has discovered a new method of fraud in which scammers use the Telegram messaging technology to steal from eateries...

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