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When evaluating a crypto investment in this environment, it becomes crucial to investigate the project’s governance, risk and compliance (GRC) approach, especially with regard to fraud prevention. Due diligence should show a tech GRC program informed by U.S. Department of Justice (DOJ) guidelines and smart risk mitigations that reflect planning
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The CFTC has accused Tennessee-based real estate business owners of running a fraudulent crypto scheme that allegedly swindled over 100 individuals out of more than $6 million. The Commodity Futures Trading Commission (CFTC) initiated a lawsuit against
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The Vermont Department of Financial Regulation (DFR), a United States state agency, warned citizens against rising crypto investment frauds perpetrated over popular social media sites.On June 25, 74-year-old Naum Lantsman lost his life savings — $340,000 — to a crypto scam orchestrated over Instagram and Telegram. The DFR referenced the
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Terraform Labs is seeking permission from a judge to subpoena data from bankrupt crypto exchange FTX, claiming the information could help its defense against a lawsuit brought by the United States Securities and Exchange Commission in February, a court filing shows. In a search for evidence that could back its defense
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“Victims were fraudulently induced to transfer money into shell companies, at which point the money underwent a series of transfers, generally ending overseas, designed to conceal the source, nature, ownership, and control of the funds,” the affidavit reads. Original Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On Thursday, July 6, two men from Florida, the United States, were charged with running a bitcoin scheme worth millions of dollars. They have since settled with the Commodity Futures Trading Commission (CFTC) by agreeing to
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The lawsuit is intended to recover Gemini's funds from DCG, a filing made to the New York County Supreme Court said. Gemini entered into a partnership with Genesis which allowed its customers to earn up to 7.4% in annual percentage yield. Gemini sent its customers' funds to Genesis, which in
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Mastercard has launched a new artificial intelligence (AI)-power tool which is aimed at helping banks fight payment fraud and scams in real-time prior to any monetary exploits.According to an announcement from the financial services provider on July 5, the ‘Consumer Fraud Risk’ solution’s AI is trained using years of transaction
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According to a Reddit post, a developer has posted an unusual farewell note, apologizing and blaming his online gambling woes after leaving a project in shambles, turning a $2 million valuation into $20,000 within minutes.Several investors in the Encryption AI project have reported that its developer performed a rug pull during a
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"The introduction of a practice similar to the procedure for exchanging foreign currencies will make it impossible to withdraw money obtained through criminal means. In such conditions, it will simply be unprofitable for IT fraudsters to operate in Belarus," the statement read. Source
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