14th November 2019
Google is taking its deepest dive yet into the financial lives of its users with plans to roll out a checking-account service. Citigroup Inc. and a California credit union are the tech giant’s initial partners for the venture, which will let users access their bank accounts through the Google… Read More
14th November 2019
The Financial Action Task Force (FATF) will “hold governments to account” for failing to crack down on the criminal exploitation of corporate formation laws, the head of the intergovernmental group said Wednesday. In an editorial published in the Financial Times, FATF President Xiangmin Liu called on nations to immediately… Read More
13th November 2019
Altair Engineering Inc. may have violated U.S. economic sanctions and export control regulations, the company said in a regulatory filing. The Troy, Mich.-based engineering software company said it discovered the possible violations in May and disclosed them to regulators, according to the company’s latest quarterly financial report, which was… Read More
12th November 2019
AP — On Dec. 14, 2018, Aaron Cole was about to buy a new house and received an email that he thought was from his title company, directing him to make a $123,000 deposit. Cole complied, not realizing that a sophisticated hacker network had likely been spying on his communications… Read More
11th November 2019
The IRS’s criminal division identified “dozens” of potential cryptocurrency tax evaders or cybercriminals after a meeting this week with tax authorities from four other countries. Officials from the U.S., U.K., Australia, Canada and the Netherlands — known as the Joint Chiefs of Global Tax Enforcement — shared data, tools and… Read More
8th November 2019
Recent commentary on AUSTRAC and the risk of money laundering, as well as high profile investigations into banks such as Westpac and money remitters like PayPal, has raised some important points around how Australia governs funds coming into and going out of the country. At a time when… Read More
4th November 2019
A recent joint report by the European Banking Authority (EBA), the European Securities & Markets Authority and the European Insurance and Occupational Pensions Authority (the Joint Supervisory Authorities, or JSAs) has highlighted current money laundering and terrorist financing risks to the EU’s financial sector participants. Transaction monitoring and suspicious… Read More
1st November 2019
The draft guidance analyses the use, reliability and independence of digital ID systems, and looks at how they can meet FATF requirements around customer due diligence. The FATF (Financial Action Task Force) has issued draft guidance clarifying how digital ID systems can be used for CDD (customer due diligence), reflecting… Read More
28th October 2019
The National Fraud Intelligence Bureau (NFIB) and one of the UK’s largest mobile phone networks, EE, have raised concerns about banks’ growing reliance on text messages when authorising large payments. The calls follow the release of a declassified document by America’s Federal Bureau of Investigation (FBI) that warns about the… Read More
22nd October 2019
BriansClub is one of the top underground destinations for buying and selling stolen credit cards, according to security experts. It is known for good customer service, a steady stream of stolen credit-card information and expert quality control. BriansClub also appears to enjoy goading Brian Krebs, a cybersecurity journalist who runs… Read More