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FBI raids Puerto Rico bank amid Venezuela sanction probe

AP — FBI agents raided a bank in Puerto Rico Wednesday amid allegations over violations of… Read More

JPMorgan creates its own US-bank backed cryptocurrency

JPMorgan has announced the launch its digital coin representing a fiat currency. Called JMP Coin, the unit is based on blockchain-based technology and will enable the instant transfer of payments between institutional accounts. Exchanging value, such as money, between different parties over a blockchain requires a digital currency. “The JPM… Read More

London money laundering: Faces behind scam targeting elderly man revealed

(Convicted launderer: Avinash Kakumanu) Two men have been jailed and another given a suspended sentence for their part in a fraud which saw a London-based 84 year-old man lose over £70,000. Avinash Kakumanu, Dinesh Alavala and Ranjit Nellikondi tricked the victim into believing he was helping the authorities. According to… Read More