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

FTC Sending $610,000 in Refunds to Tech Support Scam Victims
FTC Sending $610,000 in Refunds to Tech Support Scam Victims
February 08, 2024  |  Security & Fraud

The Federal Trade Commission (FTC) has begun sending refunds to consumers who lost money in a tech support scam facilitated by payment processor Nexway. This move follows a...

READ MORE >
Report: Paytm Rebuts Money Laundering Claims Amid RBI Probe
Report: Paytm Rebuts Money Laundering Claims Amid RBI Probe
February 04, 2024  |  Bank Regulation

India’s banking regulator has reportedly found thousands of Paytm Payments Bank accounts created without proper identification. The Reserve Bank of India (RBI) has turned this information...

READ MORE >
Binance Records $4.6 Billion in Inflows Following US Government Settlement
Binance Records $4.6 Billion in Inflows Following US Government Settlement
January 18, 2024  |  Cryptocurrency

Last November, Binance paid a landmark $4.3 billion settlement to the U.S. government. Since then, the world’s largest cryptocurrency exchange has recorded net inflows of $4.6 billion, Bloomberg...

READ MORE >
Crypto Firms Fined $5.8 Billion in 2023 For Loose Financial Controls
Crypto Firms Fined $5.8 Billion in 2023 For Loose Financial Controls
January 09, 2024  |  Cryptocurrency

Cryptocurrency and FinTech companies were fined $5.8 billion in 2023 for lax financial controls. That figure marks the first time fines against these groups exceed...

READ MORE >
Canada Taps AI as Suspected Money Laundering Efforts Spike
Canada Taps AI as Suspected Money Laundering Efforts Spike
January 08, 2024  |  AML

Canada is reportedly upping its use of artificial intelligence (AI) to combat money laundering. Donna Achimov, deputy director of the country’s Financial Transactions and Reports Analysis...

READ MORE >
Payments Experts: G20 Faster Payments Goals Could Foster Financial Crime
Payments Experts: G20 Faster Payments Goals Could Foster Financial Crime
January 07, 2024  |  Faster Payments

Will the G20’s campaign for faster payments have unintended negative consequences? A new report by the U.K.’s Future of Financial Intelligence Sharing (FFIS) said plans to make...

READ MORE >
India to Block 9 Offshore Virtual Digital Asset Service Providers
India to Block 9 Offshore Virtual Digital Asset Service Providers
December 28, 2023  |  Cryptocurrency

The Financial Intelligence Unit India (FIU IND) aims to block the URLs of nine offshore virtual digital asset service providers (VDA SPs). The regulator has...

READ MORE >
Coinbase CEO: Binance Settlement Will ‘Turn the Page’ for Crypto
Coinbase CEO: Binance Settlement Will ‘Turn the Page’ for Crypto
November 27, 2023  |  Cryptocurrency

Does the end of the case against Binance mark a new beginning for cryptocurrencies? That’s what Coinbase CEO Brian Armstrong believes, according to a Monday (Nov. 27) interview with CNBC. “The enforcement action...

READ MORE >
Tale of 2 Crypto Exchanges: Binance’s Money Laundering vs FTX’s Misappropriation
Tale of 2 Crypto Exchanges: Binance’s Money Laundering vs FTX’s Misappropriation
November 22, 2023  |  Cryptocurrency

Cryptocurrency exchanges play a vital role in the digital asset ecosystem. They facilitate the buying, selling, trading, transferring, and storing of both individual and institutional...

READ MORE >