Foreign Intelligence Surveillance Act (FISA) : Section 702 Reauthorization and Civil Liberties Debate
RegtechTimes
by Tejaswini@03
10h ago
In an increasingly interconnected world where threats to national security can originate from anywhere, the United States has vested its intelligence agencies with broad powers to monitor and intercept communications deemed essential for safeguarding the nation. At the heart of this surveillance framework lies Section 702 of the Foreign Intelligence Surveillance Act (FISA), a provision that has evolved into a cornerstone of U.S. counterterrorism strategies since its inception as part of the FISA Amendments Act of 2008. Despite its pivotal role in bolstering national security, the utilization o ..read more
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The Perils of Online Crypto Scams: Phishing Attacks via Google Ads
RegtechTimes
by Pranav Joshi
10h ago
A new age of convenience and innovation has been brought about by the fast expansion of digital currencies and online trading platforms in recent years. But this change also makes room for more advanced cyber threats, such as phishing scams that trick unwary people by using channels that appear reliable. The usage of Google Ads, a popular online advertising platform, by dishonest actors looking to trick customers and deplete their Bitcoin holdings, is one worrying trend. The current phishing attempt involving a phony “Whales Market,” an over-the-counter (OTC) bitcoin trading platform, is a cle ..read more
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The Importance of AML/CTF Compliance and AUSTRAC’s Enforcement Safeguarding Critical Financial System
RegtechTimes
by Tejaswini@03
10h ago
In recent years, Australia’s financial landscape has witnessed a surge in regulatory scrutiny, particularly concerning compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). At the forefront of this regulatory oversight stands the Australian Transaction Reports and Analysis Centre (AUSTRAC), the nation’s financial intelligence agency. AUSTRAC’s recent crackdown on businesses failing to meet their reporting obligations underscores the paramount importance of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) measures in the fight against ..read more
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Financial Deception Exposed : Sacramento Man Pleaded Guilty
RegtechTimes
by Purva Paranjape
11h ago
David Tran, aged 36 and residing in Sacramento, has pleaded guilty to multiple charges of money laundering, as stated by attorney Phillip A. Talbert of the US Attorney’s Office. Tran’s case underscores the pervasive threat of financial deception to our society and underscores the valiant efforts of law enforcement in safeguarding us from such illicit activities. The financial transactions conducted by Tran between October 2022 and January 2023 shed light on the intricate and clandestine nature of these crimes, as well as the challenges law enforcement faces in identifying and apprehending thos ..read more
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Bitcoin Halving April 24: What It Means for the Future of Cryptocurrency
RegtechTimes
by Pranav Joshi
11h ago
The fourth halving event, a noteworthy milestone that lowers the reward for mining new blocks by half, from 6.25 to 3.125 bitcoins, took place on April 20, 2024, in the Bitcoin ecosystem. A key component of the Bitcoin protocol, this event happens around every four years and is intended to limit inflation and keep the amount of coins distributed until the 21 million coin ceiling is achieved, which is expected to happen around the year 2140. Understanding Bitcoin Halving The automatic mechanism known as “Bitcoin Halving” is built into the blockchain protocol of the cryptocurrency to make sure t ..read more
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The Cyber Frontline: FBI’s Battle Against PRC’s Cyber Aggression
RegtechTimes
by Tejaswini@03
13h ago
In recent years, the United States has found itself in a relentless battle against cyber threats emanating from the People’s Republic of China (PRC). FBI Director Christopher Wray’s recent warnings underscore the gravity of the situation, emphasizing the multifaceted nature of the threat and the urgent need for collective action to safeguard U.S. national security and critical infrastructure. Understanding the Threat China’s approach to cyberwarfare is as multifaceted as it is insidious. Beyond mere economic espionage, the Chinese government’s ambitions extend to geopolitical dominance, with a ..read more
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Elder Financial Exploitation: The Hidden Threat to Seniors’ Financial Security
RegtechTimes
by Tejaswini@03
13h ago
Elder Financial Exploitation (EFE) is a significant and troubling issue affecting older adults around the world. Defined as the illegal or improper use of an older adult’s funds, property, or assets, EFE encompasses various forms of financial abuse targeting seniors. In recent years, awareness of this issue has grown, prompting efforts to understand, prevent, and address EFE. Understanding Elder Financial Exploitation (EFE) Elder Financial Exploitation (EFE) is a complex issue that typically manifests in two primary ways: elder scams and elder theft. Elder Scams: Deception and False Promises E ..read more
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Hedge Funds Exposed : Highguard Capital’s $3.6 million Ponzi Scheme
RegtechTimes
by Tejaswini@03
14h ago
In the intricate world of finance, where fortunes are made and lost on the turn of a dime, understanding complex terms like hedge funds and Ponzi schemes is crucial. Recently, the sentencing of Michael Wayne Williams, a hedge fund manager, for operating a multimillion-dollar Ponzi scheme sheds light on the dark underbelly of financial deception. This case not only highlights the importance of comprehending these terms but also underscores the need for vigilance in the investment landscape. Understanding Hedge Funds Hedge funds, often regarded as the enigmatic players of the financial markets ..read more
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ED Files Prosecution Complaint Against Mohammad Akbar Bhat and Eight Others in Srinagar
RegtechTimes
by Pranav Joshi
15h ago
A Prosecution Complaint (PC) was submitted by the Directorate of Enforcement (ED), Srinagar Zonal Office on April 4, 2024, in accordance with the guidelines of the Prevention of Money-laundering Act (PMLA), 2002. The accused parties are Muhammad Akbar Bhat, Mrs. Fatima Shah, Altaf Ahmad Bhat, Qazi Yasir, Mohammad Abdullah Shah, Sabzar Ahmad Sheikh, Manzoor Ahmad Shah, Mohammad Iqbal Mir, and Syed Khalid Geelani, also known as Khalid Andrabi. The complaint was filed against these individuals before the Honourable Special Court (PMLA), Srinagar, Jammu and Kashmir. On April 18, 2024, the court to ..read more
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Dark Web Drug Kingpin Pleads Guilty, Forfeits $150 Million in Cryptocurrency along with Cash
RegtechTimes
by Purva Paranjape
15h ago
An Indian national named Banmeet Singh made news in a historic case when he turned over more than $150 million in cryptocurrencies to US authorities. Singh entered a guilty plea for planning an extensive drug operation with this astounding cash haul, which represents the largest single-case crypto and cash seizure in the history of the Drug Enforcement Administration (DEA). Exposing Singh’s Global Drug Trafficking Empire From at least 2012 until now, Singh, a 40-year-old Indian native from Haldwani, headed an international organized crime network. Under the cover of anonymity on the dark web ..read more
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