If you cast the Panama Papers leak in terms of class warfare, this isn't the first time that a faceless few have acted for what they perceive to be the good of the proletariat, in a bout of hacker - or insider - vigilantism.
Financial crimes are growing in frequency and complexity with advances in technology providing malicious insiders and organized criminals more opportunity to commit crimes. Furthermore, the drumbeat to remain compliant continues. New regulatory guidelines continue to arise with increased scrutiny and complexity, so...
The use of Bitcoin poses big cybersecurity and money-laundering concerns for banks. But the transaction infrastructure used by cryptocurrencies offers many features that banks should put to use, says former FBI Special Agent Vince D'Agostino.
Instead of hacking into trading platforms, prosecutors say a gang stole confidential press releases, enabling traders to illegally earn $100 million. Security experts say it's time to review the "information supply chain."
The U.S. Department of Justice has announced charges against nine people suspected of running an international insider-trading and hacking scheme predicated on stealing confidential press releases before publication.
The Ministry of Home Affairs has instructed the Intelligence Bureau to create a cybersecurity architecture and a specialised wing to augment infrastructure. This must be immediate, practical and real, experts say.
Fighting increased incidents of fraud is going to be a challenge, given lack of regulation, awareness and skills. Dhruv Phophalia, Head of Alvarez and Marsal's global forensics practice, offers insights.
Banking institutions' technical and procedural shortcomings pose increasing risks to the nation's critical infrastructure, two banking regulators note. Learn why they say more transaction monitoring and information sharing are needed.
For the first time since 2010, the FFIEC has released updated guidance about Bank Secrecy Act compliance requirements and money-laundering risks. As a result, a fraud expert says banks should brace for more regulatory scrutiny in early 2015.
Retailers say tokenization and encryption are critical to ensuring payment card data security. Aite's Natalie Reinelt describes how merchants will use layers of security to protect data at the point of capture.
JPMorgan Chase will pay more than $2 billion in fines for violations of the Bank Secrecy Act tied to failure to report suspicious activity related to Bernie Madoff's decades-long, multi-billion dollar Ponzi scheme.
A $400,000 settlement in a case against a community bank in North Carolina for violations of the Bank Secrecy Act should serve as a reminder that anti-money-laundering woes are not just a big-bank issue, experts say.
TD Bank has been ordered to pay $52.5 million in penalties for violations of the Bank Secrecy Act and securities laws as a result of failing to file timely suspicious activity reports related to nearly $1 billion worth of transactions.
Another organized cyber-attack and subsequent cash-out scheme illustrates increasing risks to the U.S. payments chain. One fraud expert says this trend "is of grave concern" for banking institutions and their accountholders.
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.