Crypto scams have remained a booming industry for scammers who exploit the hype, anonymity and global reach of digital currencies. But with crypto thefts and scams soaring up 53% into the billions last year, law enforcement has sharpened its focus on the historically opaque sector...
Eighteen companies and individuals are facing charges related to alleged fraud and manipulation in cryptocurrency markets. The charges, which were unsealed in Boston, concern the leaders of four cryptocurrency companies, four cryptocurrency financial services firms known as “market makers” and employees of those firms, the...
The FBI is reportedly investigating a Silicon Valley venture capital group’s ties to China. Hone Capital launched with the help of a Chinese private equity group in 2015. Now, investigators are looking into whether the firm passed trade secrets to the Chinese government, the Financial...
Cryptocurrencies were created to address supposed pain points across the financial system. By decentralizing transaction verification and record-keeping through a distributed ledger, blockchain-based digital assets remove the need for intermediaries to enable digital transactions while simultaneously preventing issues endemic to other digital currencies, like double-spending,...
August 30, 2024
Contemporary businesses operate in an era marked by surging cyberthreats and data breaches. That’s according to a Thursday (Aug. 29) joint cybersecurity advisory by the FBI, the Cybersecurity and Infrastructure Security Agency (CISA) and other federal agencies that revealed ransomware-as-a-service (RaaS) group RansomHub breached over 200 victims in the United States alone over the past […]
September 21, 2023
Where new technology and new payment preferences arise, the hackers and scammers are sure to follow. Where technology helps connect consumers to apps and payment schemes, new attack vectors arise....
July 06, 2021
More businesses and consumers are conducting their daily tasks and transactions online, meaning offering seamless digital experiences is becoming increasingly important for today’s financial institutions (FIs). This also means banks...
July 21, 2020
Cybercrime is a constant concern for banks, credit unions and other financial institutions (FIs), with more than 25 percent of all malware attacks targeting the financial industry specifically. Compromised credit...
November 14, 2024
U.S. government agencies are reportedly investigating Citigroup’s anti-money laundering (AML) policies and its ties to a sanctioned Russian official. The Department of Justice (DOJ), the FBI and the IRS are looking at the bank’s work for a trust that holds assets owned by Russian billionaire Suleiman Abusaidovich Kerimov, Bloomberg reported Thursday (Nov. 14), citing unnamed sources. […]
October 09, 2024
Eighteen companies and individuals are facing charges related to alleged fraud and manipulation in cryptocurrency markets. The charges, which were unsealed in Boston, concern the leaders of four cryptocurrency companies,...
September 25, 2024
The FBI is reportedly investigating a Silicon Valley venture capital group’s ties to China. Hone Capital launched with the help of a Chinese private equity group in 2015. Now, investigators...
September 09, 2024
The number of cryptocurrency-related complaints accounted for 10% of all financial fraud complaints but 50% of the total losses in 2023. That is due in part to the use of...
