PYMNTS-MonitorEdge-May-2024

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

Denmark Wants To Toughen Up Money Laundering Fines
Denmark Wants To Toughen Up Money Laundering Fines
September 11, 2018  |  International

Denmark is working on new legislation that will increase money laundering fines by about eightfold. According to Bloomberg, the new bill by the Danish Financial Supervisory...

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EC Eyes Greater Enforcement Over Money Laundering
EC Eyes Greater Enforcement Over Money Laundering
September 10, 2018  |  Security & Fraud

The European Commission is crafting a proposal aimed at giving the European Banking Authority more enforcement powers and resources to go after banks that are...

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ECB Wants ‘Single Agency’ For AML Enforcement
ECB Wants ‘Single Agency’ For AML Enforcement
September 07, 2018  |  Europe

Following scandals at European lenders, the European Central Bank (ECB) wants the European Union (EU) to step up enforcement of anti-money laundering (AML) rules. To...

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DOJ Probes Wells’ Wholesale Banking Ops
DOJ Probes Wells’ Wholesale Banking Ops
September 06, 2018  |  Security & Fraud

Add another investigation to the roster of headlines swirling around Wells Fargo. As The Wall Street Journal reported on Thursday (Sept. 6), the Justice Department...

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FBI Probes Amex FX Pricing Practices
FBI Probes Amex FX Pricing Practices
September 06, 2018  |  Global Payments

The Federal Bureau of Investigation (FBI) is investigating the pricing practices of American Express’s foreign exchange international payments department. Citing people familiar with the matter,...

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Young Bitcoin Trader Indicted On Money Laundering Charges
Young Bitcoin Trader Indicted On Money Laundering Charges
August 20, 2018  |  Legal

Charges of money laundering and illegal money transmission have been levied against a 21-year-old bitcoin dealer in California. According to several sites, including justice.gov, and...

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Iran Hopes New Regulations Will Attract Foreign Investors
Iran Hopes New Regulations Will Attract Foreign Investors
August 20, 2018  |  International

As Iran tries to pass anti-money laundering regulations to attract foreign investment, a top constitutional body is requesting changes to the measures. The Guardian Council,...

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Hackers Clone Debit Cards From India Bank
Hackers Clone Debit Cards From India Bank
August 14, 2018  |  Security & Fraud

India’s Cosmos Bank was the target of an attack in which hackers were able to transfer more than Rs 94 crore via a malware attack,...

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Elaborate Indian Bitcoin Scam Involves Policemen, Lawmakers
Elaborate Indian Bitcoin Scam Involves Policemen, Lawmakers
August 13, 2018  |  Bitcoin

Gujarat, the Indian home state of Prime Minister Narendra Modi, is at the center of a bitcoin-based Ponzi scheme that could end up being the...

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