money laundering

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Source: en.wikipedia.org

Bitcoin Daily: Bank Of Ghana Eyes Digital Currency; 4,000 Crypto Trader Accounts Now Frozen In China Probe
Bitcoin Daily: Bank Of Ghana Eyes Digital Currency; 4,000 Crypto Trader Accounts Now Frozen In...
June 10, 2020  |  Bitcoin

The Bank of Ghana continues to consider the creation of a digital currency, GhanaWeb reported. Dr. Maxwell Opoku-Afari, the bank’s first deputy governor, reportedly said...

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Bitcoin Daily: China Freezes Thousands Of Crypto Accounts Amid Criminal Probe
Bitcoin Daily: China Freezes Thousands Of Crypto Accounts Amid Criminal Probe
June 08, 2020  |  Bitcoin

Authorities in China have reportedly frozen bank accounts due to digital currency and fiat assets allegedly contaminated by illicit actions, CoinDesk reported. Select Chinese digital...

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Fostering FinTech-FI Trust With Data-Driven Security
Fostering FinTech-FI Trust With Data-Driven Security
June 05, 2020  |  AML

Open banking can unlock seamless payment experiences for legitimate customers, but also for money launderers as well. As a result, many financial institutions (FIs) are...

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Deep Dive: How FIs Are Confronting Data Lag, Inadequacies In The Face Of Sophisticated Fraudsters
Deep Dive: How FIs Are Confronting Data Lag, Inadequacies In The Face Of Sophisticated Fraudsters
May 06, 2020  |  Fraud Prevention

Financial fraud costs businesses an estimated $1.45 trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018....

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Bitcoin Daily: Block.one Gets Patent For DLT That Monetizes Social Media Posts; Bitfinex Seeks US Subpoenas To Track Down $800M In User Funds
Bitcoin Daily: Block.one Gets Patent For DLT That Monetizes Social Media Posts; Bitfinex Seeks US...
May 03, 2020  |  Bitcoin

Block.one, which is behind the EOSIO (EOS) protocol, now has a patent for a blockchain-based bidding system for promotional exposure for social media, according to...

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India’s Yes Bank Founder Held On Fraud Charges
India’s Yes Bank Founder Held On Fraud Charges
March 09, 2020  |  Security & Fraud

Yes Bank founder Rana Kapoor was arrested on money-laundering charges amid efforts to formulate a rescue plan for the country’s fourth-largest private lender, Reuters reported...

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Today In Payments: Apple Parts Maker Foxconn Back To Work In China; Two Chinese Nationals Laundered $100M In Crypto
Today In Payments: Apple Parts Maker Foxconn Back To Work In China; Two Chinese Nationals...
March 03, 2020  |  News

In today’s top news, Apple manufacturer and supplier Foxconn has returned to production, the Department of Justice charged two Chinese nationals with laundering over $100...

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Swiss Bank Chided For Alleged FIFA, Venezuela Fraud
Swiss Bank Chided For Alleged FIFA, Venezuela Fraud
February 20, 2020  |  Security & Fraud

Swiss bank Julius Baer is being scolded by Switzerland’s financial watchdog for failing to notice money-laundering threats connected to deception in Venezuela and FIFA, the...

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EU Slams Cyprus, Portugal Over AML Reform Delays
EU Slams Cyprus, Portugal Over AML Reform Delays
February 13, 2020  |  Security & Fraud

Cyprus, the Netherlands, Portugal and other countries are in trouble with the European Commission over their failure to implement new rules cracking down on money...

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