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Latest Results from /crime

/crime

Finextra's year in review

With 2023 drawing to a close, we take a look back at our most popular news items, videos and community engagement activities over the course of the past year.

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DoJ cracks down on fraudsters using microtransactions

The US Department of Justice is cracking down on fraud networks that steal money from consumer bank accounts and then use 'microtransactions' to hide their activity.

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Symphony and Google launch AI-based JV for phone calls

Regtech provider Symphony is drawing on the generative AI capabilities of Google to develop a service to ensure banks' voice calls are compliant.

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Do Kwan to be extradited from Montenegro

Terraform Lab’s former CEO Do Kwan is to be extradited to either South Korea or the USA following approval from a Court in Podgorica, Montenegro.

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UK companies backsliding on sanctions screening

UK companies are failing to keep up with the requirements for sanction-screening prospective clients despite the high level of global geopolitical unrest, according to a recently published survey.

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Celsius Network to pay back customers as bankruptcy case concludes

Celsius Network has received approval from a New York judge for a restructuring plan that will repay customers’ assets through new company owned by Celsius creditors and managed by Fahrenheit.

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Sam Bankman-Fried found guilty on seven counts for multi-billion dollar FTX fraud

Founder of the infamous crypto platform, FTX, Sam Bankman-Fried was found guilty on seven counts following a highly publicised trial in Manhattan federal court.

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ING CISO says data sharing is key to financial cybersecurity

Compliance has been the traditional focus of IT departments in financial institutions, but as cyber threats continue to evolve, the financial industry needs to look to each other to help protect the wider ecosystem.

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FCA fines Equifax £11m for major consumer data breach

The Financial Conduct Authority (FCA) has fined Equifax over £11 million for failing to protect their customers from a data breach outsourced to its US parent company.

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FCA bemoans lax response to new crypto promotion rules

The UK's Financial Conduct Authority has fired off a warning to unregistered overseas cryptoasset firms, threatening fines and imprisonment for those who fail to comply with new rules for financial promotions.

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FTX sues Bankman-Fried’s parents over misappropriated funds

The FTX legal saga continues to play out as parents of the company’s founder, Sam Bankman-Fried, have been sued by the FTX parent company Alameda Research, for improperly receiving millions of dollars from the scheme.

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Finastra offers Compliance-as-a-Service package for instant payments

Finastra has teamed up with financial crime specialists Fincom and ThetaRay to offer pre-packaged compliance screening for banks delivering instant payments.