In 2022, Authorised Push Payment (“APP”) fraud losses were valued at €9.9 million in Ireland. In a world where digital transactions dominate and the border between convenience and vulnerability becomes increasingly blurred, the UK have introduced new legislation to reimburse victims of APP scams,...
Addressing payment fraud is a crucial aspect of safeguarding the financial ecosystem and protecting consumers from malicious activities. The Payment Services Regulation (PSR) proposal introduces a comprehensive set of anti-fraud measures to tackle the growing challenges of payment fraud, reflecting the eve...
Authorised push payment fraud has been made more attractive to criminals since the advent of real-time payment schemes. In the UK, Faster Payments were launched in 2008 and enabled the first wave of APP scams, but today real-time payment schemes are a reality worldwide. Schemes such as PIX ...
The two crypto derivatives exchanges both have insurance funds to pay out the winning party of a trade when its gains cannot be fully covered by the liquidated side. Due to the decline, Deribitannounced that it had injected 500 BTCof the company's own funds...
By Greg Hunter’s USAWatchdog.com (Early Sunday Release) Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, contends it is no accident why bankers do not get jail time for constantly committing fraud by stealing doc
Steve Lawler, president of the association representing hospitals and health care providers, opposed reforms to the State Health Plan's payment system at an Oct. 29 meeting. (CJ photo by Dan Way) Listen to this story(7 minutes) Hospital lobbyists persuaded lawmakers to draft legislation blocking...
Tether Executives Said to Face Criminal Probe Into Bank Fraud Tom Schoenberg, Matt Robinson, and Zeke Faux – WSJ DOJ examining whether banks were misled about crypto business; Tether says it’s committed to cooperating with law enforcement A U.S. probe into Tether is homing in on whether exe...
By bringing them under the scope of regulation, the government could ensure that platforms adhere to specific standards regarding data privacy, security, and accountability. This could include requirements for stronger user authentication processes and measures to combat fraud. OTT services could be ...
What clarifications does TRAI need to include in the two licenses? Change the two licenses to mobile and fixed satellite service authorizations: The scope of the GMPCS license should apply only to satellite communications under the mobile-satellite service (MSS), Project Kuiper argues. This aligns...