fraud
😱United Kingdom🇬🇧: Regulator blocks 1,600 websites as part of financial crime crackdown… Paid Members Public
😱United Kingdom🇬🇧: Regulator blocks 1,600 websites as part of financial crime crackdown… The Financial Conduct Authority (FCA) took this action after discovering that the websites were promoting financial services without proper authorization. ➡️ Context: Fraud remains the most common crime in the UK. In 2024, there were approximately 4.1
🎉Australia🇦🇺(and beyond): Banks launch a nationwide “confirmation of payee” scheme Paid Members Public
🎉Australia🇦🇺(and beyond): Banks launch a nationwide “confirmation of payee” scheme The system has been implemented to protect customers from scams and prevent money from reaching criminals. A similar solution is already operational in the UK🇬🇧. ➡️ The core element of the system is name-matching technology, in which $100 million USD
😱Ukraine🇺🇦: The country will create a registry of bank accounts and other “money hideouts” of citizens Paid Members Public
😱Ukraine🇺🇦: The country will create a registry of bank accounts and other “money hideouts” of citizens This measure is a mandatory step for Ukraine to join the SEPA payments area. The government approved the necessary package of initiatives back in April. ➡️ The registry will include: 👉details of bank accounts, safe
🆘Russia🇷🇺: Putin signed a law imposing up to 6 years in prison for “drops” Paid Members Public
🆘Russia🇷🇺: Putin signed a law imposing up to 6 years in prison for “drops” The relevant amendments have been incorporated into Article 187 of the Russian Criminal Code (illegal circulation of payment instruments). ▶️ Among other provisions: anyone who is not a party to a cardholder agreement and acquires or transfers
😱Russia🇷🇺: Banks Can Now Block Frequent Card Transfers, and New Restrictions for Minors Have Been Introduced Paid Members Public
😱Russia🇷🇺: Banks Can Now Block Frequent Card Transfers, and New Restrictions for Minors Have Been Introduced Rosfinmonitoring has been granted new powers and, starting in June 2025, will be able to block financial transactions for up to 10 days without a court order if there are suspicions of money laundering
☠️Russia🇷🇺: The State Duma approves in the third and final reading the law on criminal liability for "drops" Paid Members Public
☠️Russia🇷🇺: The State Duma approves in the third and final reading the law on criminal liability for "drops" The regulation is already in force. The law amends Article 187 of the Russian Federation’s Criminal Code (illegal circulation of payment means), establishing that this offense can be punished
⚠️Russia🇷🇺: Banks request a one-year postponement for the implementation of mandatory transaction confirmation by a customer’s proxy Paid Members Public
⚠️Russia🇷🇺: Banks request a one-year postponement for the implementation of mandatory transaction confirmation by a customer’s proxy The requirement was introduced to combat fraudulent transactions targeting individuals with reduced mobility. However, banks have been unable to implement the protocol—known as the “second hand service”—within the established timeframe.
🐷🐷🐷 For the first time in Argentina🇦🇷: the courts blocked a crypto platform for refusing to provide information in a fraud case Paid Members Public
🐷🐷🐷 For the first time in Argentina🇦🇷: the courts blocked a crypto platform for refusing to provide information in a fraud case The case involves the Chinese platform HTX🇨🇳, and stems from a user complaint filed after losing 13 USD in 2022. ➡️ The user was the victim of a fraud scheme