Watchdog charges first person with operating illegal crypto ATM network in UK

4 days, 12 hours ago

London tourists warned of rogue traders using boxing machines and photo booths

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Westminister City Council has issued fines amounting to £70,000 in a pre-Christmas crackdown on illegal street …

London City Council Fines Westminster City Council Illegal Street Traders Boxing Machines

1 week ago

'Make life easier for criminals': Paul Krugman torches MAGA crypto bros' ambitions

Raw Story

Nobel Prize-winning economist Paul Krugman on Monday took aim at major players in the cryptocurrency industry who are angling to get President-elect Donald Trump to help them fatten up their bank accounts. Writing on his Substack page, Krugman hammered crypto advocates' demands that the government guarantee their rights to open accounts with any bank operating in the United States. "Now …

Crypto Bank Krugman

1 week ago

Crypto frenzy: With Bitcoin above $100,000, will ‘Hodlers’ have the last laugh?

Live Mint

What is there to say with Bitcoin above $100,000 for those of us who thought $10,000 looked nuts? The flip-side of having no intrinsic value and a decentralized architecture with a huge energy footprint means that nobody uses Bitcoin to buy groceries, though: Only 7% of US consumers hold Bitcoin, and a survey published last month by the UK Financial …

Crypto Bitcoin

1 week, 4 days ago

Crackdown on black market banks in Macao sees 846 arrested

China Daily

China's police have conducted five operations and captured 846 suspects in a campaign the Ministry of Public Security launched in May to crack down on "money changing" in the Macao Special Administrative Region, an official of the ministry said. They have dismantled more than 100 "underground banks" and discovered more than 80 billion yuan of capital flow involved in these …

Chen Macao

British police say Russians used cryptocurrency to help launder billions in UK drug gang profits

Salon

During the 2021 pandemic lockdown, drug gangs in the United Kingdom ran into a problem: They had too much cash. Without being pumped back into the legitimate economy, according to the BBC, piles of cash were essentially useless to the UK gangs, being too traceable to use in order to buy more drugs to sell. By paying a commission, the …

Russia Gang Russian Drug Smart Gangs

3 weeks, 6 days ago

City watchdog branded ‘incompetent’ and ‘toxic’ by its own staff

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A report by a group …

Fca

4 weeks ago

Estimated 7m UK adults own cryptoassets, says FCA

The Independent

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Around seven million adults in the UK own cryptoassets, according to estimates published …

Indytech Fca Cryptoassets

4 weeks ago

Call to get crypto regulated as FCA reveals 7M Britons now own some

Daily Mail

Around 7m British adults own cryptocurrencies such as bitcoin, the City watchdog revealed as it set out plans to regulate the industry. The number of crypto investors in the UK has increased from nearly 5m or 9 per cent of adults in 2021 to around 12 per cent of the population. The number of crypto investors in the UK has …

Crypto

1 month, 1 week ago

The Crypto Revolution comes to Washington, with eye on regulatory reform

Salon

The cryptocurrency industry emerged as one of the biggest winners of the 2024 election, with 273 pro-crypto candidates winning U.S. House seats and 19 securing Senate positions, according to latest data compiled by Stand with Crypto tracker. We need your help to stay independent Subscribe today to support Salon's progressive journalism "Over those 14 years, these huge expenditures from the …

Future Industry Election Crypto Regulatory Washington Sec

1 month, 1 week ago

Why crypto mania is reaching new heights

Live Mint

Donald Trump’s victory has a flavour of revenge—not just for the man but also for crypto bros and their assets of choice. Over the course of election night, as it became clear Mr Trump had won America’s presidential election, the price of bitcoin, the most widely traded cryptocurrency, jumped by 10%. The mood music during the campaign is one reason …

Industry Trump Crypto Bitcoin Sec Mr Trump Gensler

1 month, 3 weeks ago

High street banks are accused of endangering national security by refusing to offer bank accounts to defence companies

Daily Mail

British lenders are under fire for 'virtue-signalling' by refusing to offer bank accounts to defence companies. Palestine Action have claimed responsibility for the damage in protest to the investment Barclays have in arms to Israel Sir Ben Wallace said: 'As war and insecurity spreads around the globe, it is time for our financial institutions to stop this vacuous virtue signalling.' …

War Defence Bank Israel Branch Defence Companies

1 month, 4 weeks ago

Government Must Establish Whitelist to Curb Money Laundering in Online Gaming

The Hindu

The Digital India Foundation (DIF) has released a report recommending the government establish a whitelist of compliant gaming companies to ensure that payment gateways and ISPs serve only the listed operators. The report also suggests stringent KYC practices, action against misleading advertisements, and a clamp down on illegal operators.

Law Crime Gambling Cybersecurity New Delhi

2 months ago

Cryptocurrency and Offshore Betting: A Money Laundering Threat in the Online Gaming Ecosystem

New Indian Express

Online gaming faces a significant threat from money laundering due to the use of cryptocurrencies and offshore betting platforms. The report highlights the increasing adoption of digital currencies like Bitcoin and Ether for in-game transactions, resulting in an upsurge in money laundering and fraud. Financial institutions must enhance their anti-money laundering (AML) systems to prevent the use of mule accounts …

Law Crime Technology Gambling Bengaluru

2 months ago

Ministers in AI ‘arms race’ with criminals and rogue states, senior MP warns

The Independent

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Ministers and AI …

Technology Independent Ai Email Westminster Email View Criminals

2 months ago

ATM Kiosk Duping: Accused Manipulates Victims with SMS Trick, Seizes Rs 5.16 Lakh

Deccan Chronicle

A man has been arrested for duping people visiting ATM kiosks for depositing money. The accused, Intipally Rama Rao alias Ramu, committed 55 offences so far in Telangana and Andhra Pradesh and used his skills to target and deceive victims. He used the ATM kiosk to target victims and convinced them to deposit money into his account. The police recovered …

Hyderabad

2 months, 4 weeks ago

Sainsbury’s sells ATM machines after offloading main banking business

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sainsbury’s has agreed to sell …

Business Banking Sainsbury Our Customers Notemachine

3 months ago

Mastercard expands AI technology to help banks detect scams as they happen

The Independent

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Since early 2023, the Mastercard scheme has helped UK banks identify and stop potentially fraudulent payments before …

Ai Banks Indytech Mastercard

54 years, 11 months ago

The Bleak Truth About the Viral Chase ATM “Infinite Money Glitch”

Slate

Just before Labor Day weekend, word started traveling around TikTok about a “glitch” at Chase Bank ATMs. They then got an idea that people have been getting for generations: What if I’ve just stumbled onto a consequence-free trick to legally steal money from America’s largest bank? While the Chase episode was a harmless bit of fun for most of us, …

Advice Financial Money Bank Viral Tiktok Chase

4 months, 2 weeks ago

Bengaluru: Two arrested for cheating ATM customers

The Hindu

The Subramanyapura police on Tuesday arrested two men from Bihar who allegedly used to replace cards of people coming to the ATM and cheat them. According to the police, the accused used to move around ATMs targeting gullible people. Using this modus operandi, the accused took away the card of a man who had come to change the PIN at …

Accused Card Atm

4 months, 3 weeks ago

Crypto populism in America can have bad consequences

Live Mint

Financial bubbles are inherently political. With SBF’s sentencing in the rear-view mirror and with new Bitcoin exchange-traded funds helping propel the digital asset to new highs, Trump has raised more than $4 million in crypto donations and sold almost 200,000 baseball-card-style NFTs depicting him as “America’s Superhero." At a crypto event on Saturday, under the slogan “Make Bitcoin Great Again," …

Trump Crypto Bitcoin Sec Sbf

4 months, 3 weeks ago

Finance ministry says no to extra funding for crypto regulation

Dutch News

The finance ministry has turned down several requests from the Dutch financial sector watchdog AFM for additional funding to monitor the crypto currency sector, the Financieele Dagblad reported on Monday. In addition, the ministry has placed limits on the contributions that the AFM can ask from the sector itself, the paper said, quoting government documents obtained using freedom of information …

Ministry Finance Ministry Afm

5 months, 1 week ago

Apple Pay, Google Pay and PayPal to be examined by British regulators for safety concerns

India TV News

British regulators said that they were looking into the soaring use of digital wallets which are being offered by Big Tech firms, including any competition, consumer protection or market integrity concerns. The Financial Conduct Authority and Payments Systems Regulator are reportedly seeking views on the benefits and risks and will assess the impact of digital wallets, such as Apple Pay, …

Tech Digital Pay Paypal Google Pay Regulators Wallets

5 months, 2 weeks ago

£235m expected to be withdrawn from ATMs as voters go to polls on Thursday

The Independent

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

Million Atm Cash Link Early December

5 months, 3 weeks ago

Big bucks and bad behaviour: Dispatches from the Wild West of crypto

The Telegraph

There’s another cryptocurrency called Wenlambo, launched in 2021. ‘On Twitter/X there were a lot of people trying to hype up the next thing you could invest in, and people were going for whatever the next hype was without much information,’ says the UK-based former chief operating officer at Outlier Ventures, a Web3 accelerator that supports blockchain projects. ‘ “Can I …

Money Crypto Oestmann

6 months, 1 week ago

Book Review: Mitali Mukherjee’s ‘Crypto Crimes’ makes a compelling case for regulating cryptocurrency

The Hindu

Published : Jun 12, 2024 11:00 IST - 6 MINS READ Cryptocurrency is accessible anywhere. Mitali Mukherjee’s book Crypto Crimes deals with this alluring asset class that has the potential to exist beyond the reaches of governments and conventional financial institutions or at least dodge easy scrutiny by governments. Crypto Crimes: Inside India’s Best-Kept Secret By Mitali Mukherjee HarperCollins India …

Finance India Regulations Indian Ransomware Mukherjee Book

6 months, 2 weeks ago

Gurugram Police arrests five people for ATM fraud

Hindustan Times

Gurugram, Gurugram Police has busted a gang involved in ATM fraud and arrested five accused, including two women, in connection, officials said on Wednesday. Gurugram Police arrests five people for ATM fraud The accused used to steal money from ATMs by inserting a chip in the power plug, enabling remote control of the machine and deceiving users. Explaining the modus …

Delhi Case Gurugram Atm Gurugram Police

7 months, 1 week ago

London emerges as global black money laundering capital

Firstpost

Ever since the House of Commons enacted legislation in 2016, the United Kingdom has encountered resistance from foreign jurisdictions that are hesitant to establish public registries that reveal the true owners of funds held in tax havens According to Andrew Mitchell, the Foreign Office will make new demands on the crown dependencies and foreign territories to conform with UK rules …

London Money Public Foreign Ecj Mitchell Registers

7 months, 3 weeks ago

This shocking ATM fraud can steal all the money from your bank account: How to stay safe

Hindustan Times

ATMs have been one of the major hotspots for people to commit fraud. The fraudsters removed the card reader from the ATM because of which the card of the customer gets stuck in the machine. When confronted by the caller and others, one of the suspects brandished a firearm, shot in the air, and fled.” “CCTV footage from nearby cameras …

Fraud Atm Customer

8 months, 2 weeks ago

Column: The legal system is closing in on crypto, and things may only get worse

LA Times

Crypto fraudster Sam Bankman-Fried is screened in a New York courtroom as he prepared to face charges related to the collapse of his FTX crypto exchange. What’s important about Failla’s ruling is that she dismissed out of hand Coinbase’s argument, which is that cryptocurrencies are novel assets that don’t fall within the SEC’s jurisdiction — in short, they’re not “securities.” …

Congress Crypto Judge New York Securities Value Sec

8 months, 2 weeks ago

Nigeria seeks to try crypto exchange Binance executives over alleged money laundering, tax evasion

Associated Press

ABUJA, Nigeria — Nigerian authorities asked in court Thursday for cryptocurrency exchange Binance and two of its executives to be tried for alleged money laundering and tax evasion, the first legal step following weeks of a criminal investigation into the trading platform. Only Tigran Gambaryan, an American citizen and Binance’s head of financial crime compliance, attended the court hearing as …

Money Laundering Tax Evasion Nigeria Gambaryan Binance

8 months, 3 weeks ago

Inter-state gang targeting citizens at ATMs busted, 2 arrested

Hindustan Times

Navi Mumbai: After four cases of people getting cheated under the pretext of being helped to withdraw money from the ATM were registered, the unit 2 Navi Mumbai crime branch started investigating the case and busted the inter-state gang on Saturday and arrested two accused. Navi Mumbai, India - April 2, 2024:Navi Mumbai Crime Branch Unit- 2, arrest 2 members …

Mumbai Car Accused Card Navi Mumbai Navi Atm

9 months ago

Are we really about to see the end of free banking?

The Independent

It’s fair to ask what on earth the boss of Britain’s financial watchdog was thinking when he mooted the end of free banking. Nikhil Rathi, the chief executive of the Financial Conduct Authority, opened that pandora’s box in a recent speech at a City conference hosted by Morgan Stanley, an investment bank. Here’s what he said: “We have always been …

Consumer Way Rates Consumers Fca Rathi Free Banking

11 months, 1 week ago

A tulip mania in crypto? Can't afford it, says Shaktikanta Das

Live Mint

MUMBAI : The US may have green-lighted exchange-traded funds in bitcoin, but for India’s apex banking regulator, cryptocurrencies remain a strict no-no. “The way we look at crypto remains unchanged, irrespective of who does what," Reserve Bank of India governor Shaktikanta Das stated at the 16th Mint Annual BFSI Summit and Awards in Mumbai on Thursday. I don’t think the …

Crypto Bank Sec Rbi Das Tulip Mania

1 year ago

Is this the end of crypto?

Hindustan Times

The fall from grace was hard and fast. To the gushing venture capitalists of Silicon Valley, he was the financial genius who could wow investors while playing video games, destined, perhaps, to become the world’s first trillionaire. Big personalities, incestuous loans, overnight collapses—these are the stuff of classic financial manias, from tulip fever in 17th-century Holland to the South Sea …

Financial Money Crypto Ftx

1 year ago

Crypto In Developing Economies: Opportunities & Challenges

ABP News

In the ever-evolving landscape of global finance, cryptocurrencies have emerged as a transformative influence, presenting opportunities and challenges for developing economies. Opportunities Let's start by looking at some opportunities: Accessibility Cryptocurrencies are a valuable solution for developing countries facing issues related to the lack of accessibility to traditional financial systems. Inflation And Counterfeit Cryptocurrencies are gaining traction in developing countries …

Market Financial Access Challenges Crypto Traditional Developing

1 year ago

Column: The crypto scam is on life support. Why are some lawmakers trying to give it CPR?

LA Times

Binance founder and soon-to-be-ex Chief Executive Changpeng “CZ” Zhao, right, leaves federal court in Seattle after pleading guilty to violations of U.S. money laundering laws. — Treasury Secretary Janet Yellen The SEC alleges that Kraken has been operating simultaneously as a crypto “broker, dealer, exchange, and clearing agency,” which present potential conflicts of interest that work against customers’ interests. Nine …

Financial Industry Crypto Case Treasury Sec Firms

1 year, 1 month ago

Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History

Live Mint

The king of crypto’s largest outlaw empire told employees for years that he would never turn himself in. Hours earlier, Zhao and his company, Binance, agreed to plead guilty to resolve a Justice Department criminal investigation that has dogged the world’s largest cryptocurrency exchange almost since its launch. Zhao also bowed to pressure in September from the DOJ to sell …

Russia Iran According Sec Plea Guilty Customers

1 year, 1 month ago

Founder of Binance, world’s largest crypto exchange, pleads guilty to anti-money laundering charge

Hindustan Times

The founder of Binance, the world’s largest cryptocurrency exchange, pleaded guilty Tuesday to a felony charge that he failed to take steps to prevent money laundering as the company agreed to pay more than $4 billion following an investigation by the U.S. government. Binance CEO Changpeng Zhao CEO Changpeng Zhao pleaded guilty to one count of failure to maintain an …

Money Laundering Crypto Binance Zhao

1 year, 1 month ago

Binance crypto exchange founder to step down amid US illicit finance probe

Al Jazeera

Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange, has stepped down as CEO and pleaded guilty to violating anti-money laundering laws. “Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed. “In just the past month, the Justice Department has successfully prosecuted the CEOs of two of the world’s largest cryptocurrency exchanges in …

Crypto Binance

1 year, 1 month ago

CEO of world’s largest crypto exchange pleads guilty and agrees to $50-million fine

LA Times

Binance CEO Changpeng Zhao has agreed to step down as part of a sweeping deal with the Justice Department designed to keep the company operating. Binance Holdings Ltd. Chief Executive Changpeng Zhao pleaded guilty to criminal charges of money laundering and U.S. sanctions violations, including allowing transactions with Hamas and other terrorist groups, under a sweeping deal worked out with …

Justice Court Cryptocurrency Crypto Company Hamas According

1 year, 1 month ago

Bankman-Fried’s trial exposed crypto fraud but Congress has not been eager to regulate the industry

Associated Press

PALM SPRINGS, Calif. — The conviction of former cryptocurrency mogul Sam Bankman-Fried for stealing at least $10 billion from customers and investors is the latest black mark for the cryptocurrency industry, but in Washington, there seems to be little to no interest in pushing through regulation. “We need to crack down on abuses and can’t let the crypto industry write …

Industry Cryptocurrency Congress Crypto Senate Sec Brown

1 year, 1 month ago

Column: Sam Bankman-Fried’s seven guilty verdicts expose crypto as a swindle through and through

LA Times

Crypto scamster Sam Bankman-Fried at the Manhattan courthouse where he was convicted Thursday on seven criminal counts. “The cryptocurrency industry might be new; the players like Sam Bankman-Fried might be new, but this kind of fraud, this kind of corruption, is as old as time,” he said. In an interview broadcast on “60 Minutes” on Oct. 1, just before Bankman-Fried’s …

Market Fraud Crypto Case Real No One This Case

1 year, 1 month ago

How 5 Indian Americans allegedly laundered $30m in Cash-for-Bitcoin scam in New York

Hindustan Times

Five Indian Americans are reportedly being investigated for an illegal $30million crypto exchange scheme operating in the heart of New York. 5 Indian Americans, Shaileshkumar Goyani, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel, and Raju Patel have been accused of running this illegal Bitcoin exchange with an adept criminal finesse, bypassing the legal scrutiny. The report claims, this individual …

Bitcoin New York Indian Americans Fbi Cash Exchange Bitcoin Exchange

1 year, 2 months ago

EU securities watchdog warns investors over crypto market protections

The Hindu

Investors will not be protected under European Union cryptoasset market rules until at least the end of 2024, and even then they should still be ready to lose all their money, the bloc's securities watchdog said on Tuesday. Cryptoassets are currently unregulated under EU securities rules, and the European Securities and Markets Authority said investors would not benefit from any …

Crypto Market Protections Crypto Firms

1 year, 2 months ago

Pune Police bust inter-state gang of ATM card swappers, two held

Hindustan Times

With the arrest of two people, Vishrantwadi police have busted an inter-state gang that had been duping people by swapping their ATM cards with fake ones. The accused are habitual offenders, who had a similar case registered against him in Vishrantwadi police station. During the investigation of one of the ATM fraud cases reported on September 22, at Vishrantwadi, police …

Case Accused Card Cards Atm Vishrantwadi Vishrantwadi Police Station

1 year, 2 months ago

Crypto Is For Criminals? No Real-World Use? 5 Myths About Cryptocurrencies Busted

ABP News

Cryptocurrencies have been experiencing remarkable growth over the past decade. Myth 1: Cryptocurrency Is For Criminals The perception that cryptocurrencies are primarily used by criminals often arises due to the anonymity they offer. While short-term price swings may be unpredictable, many long-term investors see the potential for substantial returns in the future as cryptocurrencies gain wider acceptance and adoption. Myth …

India Market Cryptocurrency Crypto Regulatory Cryptocurrencies Investors

1 year, 2 months ago

Jury selection to begin in trial of fallen cryptocurrency mogul Sam Bankman-Fried

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Email Ftx Jury Selection Fallen Cryptocurrency

1 year, 2 months ago

Chase UK will soon bar its customers from making crypto transactions due to an uptick in scams

Associated Press

NEW YORK — Chase UK, JP Morgan’s British digital bank, says it will bar customers from making cryptocurrency transactions starting next month — citing an uptick in scams and fraud. From Oct. 16 onward, Chase customers will no longer be able to make crypto transactions using their debit card or through an outgoing bank transfer, the bank said Tuesday. “If …

Fraud Scams Crypto Bank Rpc Crypto Transactions Chase Uk

1 year, 2 months ago

Chase bank bans crypto payments for UK customers

The Independent

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. JP Morgan’s …

Money Crypto Bank Chase Customers Its Customers Crypto Assets

Watchdog charges first person with operating illegal crypto ATM network in UK

History of this topic

People using unregistered crypto ATMs risk losing their money, FCA warns

All ‘crypto ATMs’ need to be shut down now, UK regulators warn

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