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

Iceland Needs To Do More To Fight Money Laundering, Terrorism Financing
Iceland Needs To Do More To Fight Money Laundering, Terrorism Financing
April 09, 2018  |  Security & Fraud

Iceland’s efforts over the last decade to focus on crimes that were associated with the financial crisis around the globe has hurt its law enforcement of...

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South Korea Detains Head Of Coinnest, Other Crypt Exchange For Embezzlement
South Korea Detains Head Of Coinnest, Other Crypt Exchange For Embezzlement
April 06, 2018  |  International

The head of two cryptocurrency exchanges in South Korea were detained by law enforcement for allegations they embezzled the assets of customers. According to news...

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India Police Tap Central Bank Officials To Help With PNB Inquiry
India Police Tap Central Bank Officials To Help With PNB Inquiry
April 06, 2018  |  International

Investigators in India are questioning four senior central bank officials as part of its investigation into the $2 billion fraud case at Punjab National Bank...

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In Invoice Financial Fraud, Blockchain Can’t Conquer Security Alone
In Invoice Financial Fraud, Blockchain Can’t Conquer Security Alone
April 05, 2018  |  B2B Payments

India today is a leader in blockchain innovation and experimentation. With a strong community of innovators at home, foreign FinTechs’ entrance into the Indian market...

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SEC Charges Founder Of Mozido With Defrauding Investors
SEC Charges Founder Of Mozido With Defrauding Investors
April 02, 2018  |  Regulation

The Securities and Exchange Commission (SEC) announced news on Monday (April 2) that it charged Michael Liberty, the founder of Mozido, the FinTech startup, with scamming...

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UK Cracks Down On Bank Misconduct
UK Cracks Down On Bank Misconduct
March 23, 2018  |  Bank Regulation

The U.K.’s Financial Conduct Authority (FCA) is taking a zero-tolerance stance on misconduct at banks. The regulator in charge of policing this has promised to...

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Warren Proposes To Create Bank Criminal Activity Investigation Unit
Warren Proposes To Create Bank Criminal Activity Investigation Unit
March 15, 2018  |  Regulation

Senator Elizabeth Warren wants to create a law enforcement unit to keep big banks in check. According to American Banker, Warren introduced the Ending Too...

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PNB’s Diamond Fraud Could Hit $2B In Cost
PNB’s Diamond Fraud Could Hit $2B In Cost
March 07, 2018  |  South Asia

The scandal surrounding India’s state-run Punjab National Bank (PNB) is getting bigger — in fact, a source says it could hit the $2 billion mark....

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Feds File Charges In International Fraud Scheme Involving A Picasso
Feds File Charges In International Fraud Scheme Involving A Picasso
March 02, 2018  |  Security & Fraud

For their alleged roles in a massive stock fraud and money laundering scam involving a Picasso, the U.S. Department of Justice has criminally charged 10...

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