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

Bitcoin Trader Thomas Mario Costanzo Receives 41-Month Sentence
Bitcoin Trader Thomas Mario Costanzo Receives 41-Month Sentence
August 03, 2018  |  Bitcoin

After a federal jury found him guilty of money laundering, Thomas Mario Costanzo has been sentenced to 41 months of imprisonment by U.S. District Judge...

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How The eCommerce Fakers Launder Money
How The eCommerce Fakers Launder Money
August 03, 2018  |  Security & Fraud

“Fake it ‘til you make it” is a familiar idiom with roots in the great teachings of Aristotle, who once said that a person who...

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Alleged Floor Trader Scheme Haunts NYSE
Alleged Floor Trader Scheme Haunts NYSE
August 01, 2018  |  Legal

The New York Stock Exchange (NYSE) has accused a floor trader of being involved in a kickback scheme involving an unnamed broker. According to The...

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Lloyds Accused Of ‘Victim Blaming’ In SMB Fraud Compensation Program
Lloyds Accused Of ‘Victim Blaming’ In SMB Fraud Compensation Program
July 30, 2018  |  Banking

U.K. financial institution Lloyds was criticized by lawmakers Monday (July 30) over its program to compensate small business victims of fraud related to the bank’s...

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China Breaks Up Massive Pyramid Scheme Involving 82 People
China Breaks Up Massive Pyramid Scheme Involving 82 People
July 25, 2018  |  Security & Fraud

China has arrested 82 people as part of the busting of a $1.51 billion online pyramid scheme that involved more than 220,000 investors. Reuters, citing the...

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Despite New EU AML Laws, Banking Scandals Persist
Despite New EU AML Laws, Banking Scandals Persist
July 10, 2018  |  International

Although new rules to combat money laundering in the European Union took effect this week, there are already calls for more reforms after a series...

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ThetaRay Notches $30M In Funding
ThetaRay Notches $30M In Funding
July 04, 2018  |  Investments

Cybersecurity firm ThetaRay has notched more than $30 million in a funding round, bringing its total fundraising to over $60 million. The company counts Bank...

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Business Scams, Everywhere, Phishing For Funds
Business Scams, Everywhere, Phishing For Funds
June 20, 2018  |  B2B Payments

Emails still seem to be the way to go when it comes to parting SMBs from their money. The scams have gotten so egregious that any...

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Can Behavioral Analytics Slow Online Fraud?
Can Behavioral Analytics Slow Online Fraud?
June 19, 2018  |  Security & Fraud

EMV has done wonders to stop fraud via cards at the physical point of sale. The bad guys have moved off the premises and onto...

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