The U.S. federal government Wednesday added cryptocurrency mixer Sinbad.io to a growing blacklist of virtual asset platforms under sanctions that prevent Americans from doing business with them. The FBI seized the Sinbad website in an international operation.
This week's cryptocurrency hack roundup features hackers stealing $87 million from Heco, Kronos reporting $25 million stolen via an API breach, regulators filing charges against Kraken, and feds charging three people with stealing $10 million and seizing $9 million tied to a pig-butchering scam.
North Korean state-affiliated hackers are continuing to exploit zero-days in popular software applications as part of global supply chain attack campaigns for espionage and financial theft purposes, British and South Korean cybersecurity and intelligence officials said.
The world's largest cryptocurrency exchange will withdraw from the U.S. market after now-former chief executive officer Changpeng Zhao pleaded guilty to felony money laundering charges in a U.S. court and the company agreed to pay $4.3 billion into federal coffers.
Binance Chief Executive Changpeng Zhao will plead guilty to violating anti-money laundering statutes in U.S. federal court in a settlement ending an investigation into illicit transactions at the world's largest cryptocurrency exchange. The company will pay $4.3 billion in fines and forfeiture.
Financial institutions (FIs) are grappling with sophisticated authorized and unauthorized scams that are fueled by payments innovation and higher transaction volumes. With instant payments gaining worldwide adoption, real-time monitoring is the key to stopping trending scams—but that’s not the only trend to plan...
This week, Poloniex prepared to resume operations after a $100 million hack, a OneCoin executive pleaded guilty, the SEC reported an "impactful" crypto enforcement year, a bug put $2.1 billion at risk, $27 million was stolen, the Data Act vote happened in Europe, and China released an NFT theft law.
This week, the trial of the alleged Mango Markets hacker was delayed, Bitfinex reported a "minor" cybersecurity incident, the U.S. Securities and Exchange Commission sought summary judgement in the Terraform Labs case and the U.S. Department of Treasury designated a Russian money launderer.
The guilty verdicts returned by a jury against Sam Bankman-Fried confirmed that the one-time cryptocurrency wunderkind now stands as one of America's biggest fraudsters. His sentencing is scheduled for March 28, 2024. The statutory maximum sentences for his crimes total over 100 years in prison.
Every week, ISMG rounds up cybersecurity incidents in digital assets. This week, Sam Bankman-Fried testified in his U.S. criminal trial, the United Kingdom issued further crypto regulation, U.S. federal law enforcement arrested SafeMoon executives, and Onyx and Unibot each fell victim to a hack.
Blue check scams, quishing, tech support, homograph attacks, and travel scams abound this holiday season. Fraud tactics are more personalized and harder to detect, competition is steeper, and regulatory scrutiny is ballooning.
In this eBook, we’ll take a look at how real-time fraud detection and real-time...
PSR shift in liability adds another dimension of complexity for financial institutions (FIs) combatting sophisticated APP fraud scams and new account fraud. Not only is it more challenging for FIs to protect themselves and customers, that liability shift could have deep revenue impact.
Why is NICE Actimize ranked the highest-scoring enterprise fraud management (EFM) vendor on Quadrant Knowledge Solution’s 2023 SPARK Matrix™? Because end-to-end fraud prevention across the entire customer life cycle doesn’t just achieve robust fraud detection and prevention—it improves operational efficiency...
Until now there has been an ongoing struggle regarding who owns the money mules and scams problem – Credit Risk, AML (KYC), or Fraud Management? With liabilities shifting, ownership is clearly landing on the shoulders of Fraud Management teams. Fraud leaders must act quickly or risk losing revenue, their reputation,...
Financial institutions (FIs) are increasing their efforts to combat the alarming rise in fraud cases. A prominent example is the U.K. PSR’s upcoming shift in liability to FIs, especially relating to Authorized Push Payment fraud. With the PSR’s new policy, both the sending and receiving FIs will be responsible for...
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