Crypto fraud: updates from New York’s financial regulator
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Important news regarding crypto fraud. It is the New York financial regulator that is setting the tone, recently updating its monitoring tools against crypto fraud. Let’s look in detail at what has happened. New York financial services implements controls for crypto fraud The New York State Department of Financial Services has strengthened its ability to detect fraud in the virtual currency industry by building on previous guidelines on preventing illicit activity. Its enhanced ability to identify insider trading and market manipulation in New York State-regulated companies engaged in virtual currency activities comes at a time when the cryptocurrency industry remains
Combating Cryptoasset Fraud: A Strategic Collaboration In a significant move to combat the rising tide of cryptoasset fraud, KPMG in Canada has joined forces with Chainalysis, a leader in blockchain data analysis. This partnership marks a critical step in enhancing the capabilities of organizations to detect, prevent, and investigate illicit…
Australia financial regulator, ASIC, is stepping up its fight against online scams after dismantling 14,000 fraudulent websites since July 2023, more than 3,000 of which were linked to cryptocurrency. The ASIC said its enforcement efforts will now extend to include social media advertisements, which are increasingly being used to lure…
Federal authorities in the United States have found Brian Garry Sewell guilty of investment fraud and illegal crypto activity. Investigators said he cheated investors and secretly changed large amounts of cash into digital assets without approval. The case shows the rising risks in the crypto market as regulators continue to…