This customer had started placing suitcases full of cash in a safe deposit box at Credit Suisse. He was later shot dead in 2005. The prosecutors believe that Banev and his associates used a practice called smurfing. This entails breaking down a large sum of money into smaller amounts, which are below the AML alert…
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Trading of tokenised funds The partnership will enable trading of tokenised, actively managed funds, specifically UCITS (Undertakings for Collective Investment in Transferable Securities) funds. The UCITS trading is planned to launch in 2022. Founder and CEO of Investre Georges Bock explained: Our vision is to have tokenised funds traded online and, one day, to trade…
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Details of the fraudulent scheme The CFTC alleges that W Trade Group and Ramos have misappropriated over $19 million from 220 customers. To maintain the scheme, W Trade Group and Ramos sent customers false account statements showing them purported profits and trading activity, when in fact there was none. The other defendant, Carvajales, conjunction with…
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The diluted earnings per share (EPS) jumped 108% in Q1 to $2.04 per share. FX and CFDs demand The forex and contracts for differences (CFDs) market generated operating revenue of $72.2 million, registering a 21% rise compared to the same period the previous year. StoneX highlighted that this was driven by a $12.1 million increase…
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The reports stated that $50 million were stolen from crypto exchanges in North America, Europe and Asia during the period between 2020 and mid-2021. A report from cybersecurity firm Chainalysis was also cited saying that North Korea conducted seven attacks on crypto platforms last year and stole approximately $400 million worth of digital assets. The…
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The regulator highlighted that there are deficiencies in DBS Bank’s incident management and recovery procedures to restore its digital banking services to a normal state, resulting in the prolonged duration of the disruption. The regulator said: MAS noted deficiencies in DBS Bank’s incident management and recovery procedures to restore its digital banking services to a…
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Frank Bisignano, President and Chief Executive Officer of Fiserv, said: This transaction complements our Fiserv account processing solutions and expands our opportunities to serve clients by bringing together Finxact’s highly flexible and scalable API-first capabilities with the comprehensive digital financial solutions portfolio and expertise of Fiserv. Through this combination, Fiserv will create a streamlined path…
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Moreover, BaFin highlighted that there are many investment tips circulating on social media about crypto stocks and other financial products which are not reliable. They may even be false, misleading or fictitious. BaFin stated in the official warning: Digital, lucrative and trendy: this is the image that crypto assets now have among private investors. However,…
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Jens-Peter Feidner, Managing Director for Germany at Equinix, noted: We provide companies in Munich with the most dynamic digital infrastructure platform available, and want it to be as climate-friendly as feasible. As the first operator in the industry to commit to science-based climate targets, we continuously explore and invest in new climate friendly technologies to…
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Yu brings more than a decade of experience in the financial services industry. Most recently, she worked at Multibank Group, where she led the firm’s Sales and Operations team across Asia. The Moneta Markets brand was established by David Bily. He worked at Vantage Group for over 10 years. In November last year, global multi-asset…
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