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Tag Archives: Fraud

Hong Kong Trade Finance Will Fight Fraud With a Blockchain-Based Platform

The Hong Kong Monetary Authority (HKMA) has partnered with Chinese Ping An to release a blockchain-based trade finance platform. The joint effort is expected to speed-up the process and prevent fraud. CCN first reported the Hong Kong’s de facto central bank’s initiative back on March 30. At the time, the bank unveiled a proof-of-concept (PoC) blockchain platform built for trade ...

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Bank of Thailand Considers Blockchain for Cross-Border Payments, Fraud Reduction

The Governor of the Bank of Thailand (BoT), said that the bank is considering blockchain technology for various applications during a speech at the the Bloomberg ASEAN Business Summit on July 12. The central bank’s governor Dr. Veerathai Santiprabhob stated that the bank was specifically reviewing blockchain applications for cross-border payments, supply chain financing, and document authentication. According to Dr. ...

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Trump Crypto Fraud Task Force

Trump crypto fraud task force: Earlier this year, the United States government revealed that it was looking at cryptocurrencies, with a particular focus on market fraud, and that it was developing a “comprehensive” strategy around virtual currencies. Now in the second half of the year, the US government is diving even further into the crypto industry. On Wednesday, July 11th, ...

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New US Gov’t Task Force Highlights Digital Currency Fraud for ‘Particular Attention’

Digital currency fraud will form one of the areas of “particular attention” for a new U.S. anti-crime task force with participation from several government bodies, according to an executive order issued July 11. The Task Force on Market Integrity and Consumer Fraud, which will have the U.S. deputy attorney general as its chair and associate attorney general as vice chair, ...

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Donald Trump’s US Government to Focus More On Crypto-Related Fraud

A new task force created by Donald Trump seeks to further investigate “cyber fraud” and “digital currency fraud,” as per an executive order from the U.S. President and his administration. Trump Looking at Crypto The announcement, made today, looks to place digital currencies amongst more traditional crimes like money laundering and fraudulent investment schemes targeting the elderly as a focus ...

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Exchange Using AI and Blockchain to Tackle Ad Industry’s $19 Billion Fraud Problem

An ad exchange network is combining an artificial intelligence (AI) system with blockchain technology to tackle eye-watering levels of fraud in the industry and stop consumers from being bombarded with irrelevant ads at inappropriate times. NOIZ Chain says the public, and the brands trying to reach them through advertising, have seen their patience wear thin following a slew of scandals ...

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Bitcoin Mining Con Artist Arrested Over $15 Million Fraud

A man has been arrested in China for fraud over the sale of underpriced Bitcoin mining equipment and is awaiting prosecution. According to state media, the man made nearly 100 million yuan ($15 million) from 50 investors within a few months. Mining Fraudster Defaults on 3,000 Orders The suspect has only been identified by his surname Zhang, but is from ...

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Ukrainian Police Arrest Four in Alleged Cryptocurrency Exchange Fraud

Ukranian Police authorities have arrested four people in connection with running six fraudulent exchanges.t The authorities say that the accused setup exchanges using a custom CMS(content managemenset uptem), and attracted users through review websites, which they had infused with fake positive ratings. The websites the accused deployed are:1. moneycraft.info2. wowex.online3. swapex.net4. myexchanger.lv5. iconvex.net6. likechange.biz All of the websites are currently ...

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IBM Launches Blockchain-Powered Media Transactions Tracker to Prevent Advertising Fraud

IBM iX has partnered with software supplier Mediaocean to launch a blockchain-powered tracker for digital media transactions, the company tweeted June 19. IBM iX is the business and tech consulting wing of international technology giant IBM. According to IBM iX, the main purpose for applying blockchain in the media ecosystem is to “clean things up” in the media buying industry.   ...

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