Authorities have shuttered a digital currency service allegedly used to launder funds stolen in a $45 million ATM cash-out scheme exposed earlier this month. Learn why experts say lax laws paved the way for the fraud.
Since the summer of 2009, financial institutions and their corporate customers have been defrauded by increased incidents of account takeover. These incidents have pitted banks and customers against one another in court, and they were a key impetus behind the release of the new FFIEC Authentication Guidance. So, how...
Payments are moving away from tangible currency to so-called new economies, where value relies more on reputation than currency. Venues such as Facebook facilitate e-commerce via new economies. But as with any change in the payments scheme, industry experts expect these new economies to be accompanied by new risks.
Anti-money laundering expert Kevin Sullivan says that U.S. banking institutions should not take Osama bin Laden's death as a sign that they can let their AML and BSA screenings become more lax. "We have not defeated terrorism yet."
Money-laundering is one of the most common and complex financial crimes to be committed. Learn exactly what you need to know about the specific statutes and regulations that govern the crime.
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