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Financial institutions face rising threat from sophisticated AI fraud
30.5.2024
Many financial institutions are struggling to keep up with the rising sophistication of AI-driven fraud, creating a critical need for enhanced detection and prevention methods
AI-Driven Fraud on the Rise, Financial Institutions Unprepared, Reveals Report
30.5.2024
A new report by Signicat, the European digital identity and fraud prevention solutions provider, reveals that artificial intelligence (AI) is used in over a third of fraud attempts targeting financial institutions, with one in fifteen fraud attempts now using deepfakes. The study, titled “The...
U.S. Lawmaker at Center of Crypto Negotiation Predicts Digital Assets Law by Next Year
30.5.2024
Rep. Patrick McHenry (R-N.C.) vowed the crypto industry won't have long to wait to get U.S. regulations, now that the U.S. House of Representatives has shown the way
US Treasury report outlines potential financial risks of NFTs
29.5.2024
The government department outlined potential concerns with the NFT market, including terrorist financing, theft, and funding nuclear proliferation
Mastercard Launches Crypto Credential Service for Simplified Cross-Border Transactions
29.5.2024
Financial giant Mastercard has initiated its first real-world application of the Crypto Credential system, a system aimed at facilitating easier and more secure peer-to-peer (P2P) cryptocurrency transactions. The service, which allows users to transfer cryptocurrencies using simple aliases,...
NYSE Partners With Coindesk for Bitcoin-Tracking Financial Products
29.5.2024
The New York Stock Exchange (NYSE) has teamed up with Coindesk Indices to develop cash-settled options contracts that track bitcoin prices. These contracts, based on the Coindesk Bitcoin Price Index (XBX), are currently in the planning stage and awaiting regulatory approval. NYSE and Coindesk...
Israel launches digital shekel CBDC experiment for payments
29.5.2024
The Bank of Israel launched the CBDC experiment taking inspiration from the Project Rosalind carried out by the BIS Innovation Hub
South Africa Traders Fair 2024: Embrace financial wisdom
29.5.2024
Anticipation is building as the South Africa Traders Fair, hosted by FINEXPO, returns to the vibrant city of Johannesburg. Set against the backdrop of the Protea Hotel Johannesburg Wanderers on September 21, 2024, this event promises a day of enlightenment, engagement, and empowerment in the realm...
Former FTX Executive Ryan Salame Sentenced to 7.5 Years for Criminal Charges
28.5.2024
Former FTX executive Ryan Salame was sentenced to seven and a half years in prison by Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York after pleading guilty to criminal charges, including engaging in an unlawful political influence campaign and operating...
Russian Commodities Firms Turn to Stablecoins for Transactions with Chinese Counterparts
28.5.2024
Russian commodities firms facing challenges in executing financial transactions with Chinese counterparts have turned to stablecoins.
The post Russian Commodities Firms Turn to Stablecoins for Transactions with Chinese Counterparts appeared first on Cryptonews
Bitcoin and Ethereum ETNs Hit London Stock Exchange Trading Floor
28.5.2024
Investors in the UK can now trade exchange-traded products that track Bitcoin and Ethereum through the London Stock Exchange, as the country narrows the gap with other financial leaders in digital assets.
The post Bitcoin and Ethereum ETNs Hit London Stock Exchange Trading Floor appeared first...
Central banks turn to generative AI for enhanced cybersecurity: BIS
28.5.2024
Central banks are increasingly adopting generative AI for cybersecurity, with a BIS report indicating that 71% are already using it and more planning to follow
South Korea Universities Face Banking Hurdles in Converting Crypto Donations to Cash
28.5.2024
Financial authorities in South Korea are prohibiting universities from opening corporate accounts for coin transactions. This is resulting in their inability to convert cryptocurrency donations provided by certain crypto businesses into cash.
The post South Korea Universities Face Banking Hurdles...
Nomura and GMO Collaborate on Japanese Stablecoin Issuance
27.5.2024
Nomura Holdings, a leading global financial services group, has partnered with Laser Digital, its subsidiary focused on digital asset solutions, and GMO Internet Group, a prominent Japanese technology company renowned for its internet infrastructure, online advertising, and fintech services....
FINNOVEX Qatar 2024 to spearhead the financial revolution
27.5.2024
The stage is set for the most anticipated financial event of the year, FINNOVEX Qatar 2024, scheduled to take place on the 25th and 26th of June at the prestigious Waldorf Astoria Doha West Bay. Under the theme “Igniting the Financial Revolution,” this premier gathering will delve into...
South Korea Urged to Follow US Lead on Crypto ETFs After Ethereum Approval
27.5.2024
The US Securities and Exchange Commission's approval of spot Ethereum ETFs last week has ignited pressure on South Korea's financial regulators to greenlight similar crypto exchange-traded funds.
The post South Korea Urged to Follow US Lead on Crypto ETFs After Ethereum Approval appeared first...
Report: Investigation Finds No Fault With Sullivan & Cromwell in FTX Bankruptcy
26.5.2024
An investigation into the law firm Sullivan & Cromwell LLP, which worked with the now-defunct crypto exchange FTX, revealed that the firm was neither involved in the fraud nor aware of the financial troubles that plagued the collapsed trading platform. Sullivan & Cromwell Cleared...
Indian Citizen Faces 20 Years in US Prison for Stealing Crypto in $37M Coinbase Spoofing Scam
26.5.2024
An Indian national has pleaded guilty in the U.S. to wire fraud conspiracy for stealing over $37 million by spoofing crypto exchange Coinbase’s website. He and his co-conspirators created a fake Coinbase Pro site to steal login credentials and two-factor authentication codes, transferring...
Mad Money’s Jim Cramer Endorses Ether as ‘Great Store of Value’ Amid US Dollar Concerns
26.5.2024
Jim Cramer, the host of CNBC’s Mad Money show, has endorsed ethereum and spot ether exchange-traded funds (ETFs), highlighting the cryptocurrency as a “great store of value” amid concerns over the U.S. dollar due to federal budget deficits. “I have ether because...
US House Passes Central Bank Digital Currency Anti-Surveillance State Act
24.5.2024
The House of Representatives has passed Congressman Tom Emmer’s CBDC Anti-Surveillance State Act, which prohibits the Federal Reserve from issuing a surveillance-oriented central bank digital currency (CBDC). The lawmaker emphasized that the bill protects American values of privacy and individual...