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Latest Results from /crime

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UK orders crypto exchanges to report sanctions breaches

Crypto exchanges operating in the UK will face more reporting requirements over sanctions breaches under new rules introduced in the wake of Russia's war in Ukraine.

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Abu Dhabi establishes crypto committee

Abu Dhabi has announced the formation of a government body to develop its strategy for regulating and promoting the world of virtual assets.

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Crypto-crime revenue drops by 65% - report

Revenue derived from cryptocurrency-related crime is down by 65% in the first half of 2022 compared to the corresponding period in 2021.

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FCA fines Citi £12.5m for trading oversight failings

The UK's Financial Conduct Authority (FCA) has levied a £12.5m fine against Citigroup Global Markets over past failures to police its trading activity

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German watchdog urges Allianz to improve internal controls

Germany’s financial regulator BaFin has call on Allianz to improve its internal controls following a fraud scandal in their US fund unit.

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Lloyds, Santander, Barclays, TSB demand Google, Facebook reimburse online fraud victims

As reported in The Telegraph, UK banks have urged Big Tech and telecommunications firms to take responsibility for their contribution to the rise of online fraud and voluntarily reimburse victims.

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Starling posts first profitable year

UK digital bank Starling has turned a £32m profit for the last financial year, marking its first full year of profitability.

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UK to regulate stablecoins as part of Finance bill

Fintechs and crypto asset providers have welcomed the UK government’s decision to bring stablecoins into regulatory scope as part of the recently published Financial Services and Markets Bill.

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UK proposes new AI rulebook

The UK government has published its plans to regulate the use of artificial intelligence (AI) which would see it depart from the EU's strategy to establish a centralised body to oversee the use of technology.

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Firms failing to monitor social messaging

Financial services firms are falling short in their efforts to monitor employees' use of social media messaging despite ear-marking communications surveillance as an investment priority, according to recent research.

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Bank of America fined $225 million for unlawfully freezing accounts during Covid-19 pandemic

The Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) have fined the Bank of America (BofA) for their deficient disbursement of state unemployment benefits during the Covid-19 pandemic.

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Zurich picks Mendix low-code to roll out next-gen solutions

International insurance company, Zurich, has partnered with low-code platform Mendix to roll-out a Terrorism Data Capture solution for automated coverage, among other updates.