FinTech

Digital money transfers have overtaken cash for the first time in the U.S.-to-Mexico remittance corridor, marking a shift in the world’s largest flow of cross-border family payments and intensifying pressure on traditional cash-based providers.

The U.S. Treasury Department on Thursday announced two new sanctions actions targeting financing and revenue-generation networks tied to Hamas and the Democratic People’s Republic of Korea.

Once celebrated as a philanthropist and real estate magnate, Cambodian tycoon Chen Zhi built a web of political influence and banking relationships that helped shield what authorities now describe as a vast transnational scam and gambling syndicate.

The Justice Department released its first department-wide corporate enforcement policy for criminal matters, establishing a uniform framework for how prosecutors handle corporate cases across the department, except antitrust matters. 

Dubai has cultivated an image as the safest haven for global capital in the Middle East, but Iranian strikes on the emirate are putting that image to a test.

The messaging platform Telegram has become a hub for job scams and other forms of fraud, Revolut is warning.

Cyber-enabled fraud is rapidly expanding in scale and sophistication as criminals exploit digital platforms, instant payments, and virtual assets to move illicit proceeds across borders, an intergovernmental watchdog said on Tuesday.  

Brazil’s Finance Ministry has urged the country’s central bank to tighten regulation around pooled and escrow accounts that authorities say are being used by bad actors to circumvent asset freezes, according to Reuters.

Revolut has dropped plans to buy a U.S. lender as a means to get a foothold in the American market and will instead apply for a banking license from the Trump administration, the Financial Times reported. 

Australia’s financial intelligence unit has ordered Singapore-based Airwallex to review whether the payments giant has violated the nation’s anti-money laundering (AML) laws.