Reported by: Spencer Woodman The U.S. Treasury Department’s quest to build a company ownership database meant to battle dirty money has hit another setback, with a key national banking group calling for the agency to withdraw its “fatally flawed” plan. In a letter submitted last week, the American Bankers Association said the Treasury’s latest proposed […]
Reported by: The NY Department of Financial Services New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris today announced the Department has enhanced its ability to detect fraud and other illegal activity among New York State-regulated entities engaged in virtual currency activity through new insider trading and market manipulation risk monitoring tools. […]
Reported by: Daniel Oropeza In 2022, BioCatch, a software company that delivers advanced fraud protection, estimated that there are approximately two million mule accounts in the U.S., and about $3 billion in fraudulent transfers a year. The same research estimates that scammers are lowering their transaction amounts to mules to an average of $1,500 to avoid […]
Financial Crime News Briefs 