Crypto address poisoning fraud concerns and prevention
Harry wants to send 2 bitcoins to his mate Sam; he has interacted with Sam’s wallet address in the past, and their previous transactions have both incoming and outgoing transfers…
Wallet Dusting, Fraud, and Privacy: What You Need to Know
A mate of mine enquired about microscopic amounts of crypto suddenly appearing in his Uniswap wallet. They are usually random cryptos and are identified as Dust. So, what does having…
Elements of a card and potential fraud aspects related to it?
What is a Card? A quick Introduction A card, credit or debit, is a piece of plastic issued by a financial institution to make payments for goods or services purchased…
What is the Nakamoto Coefficient, and why understanding it can prevent you from falling victim to an investment scam or a rug pull?
Named after Satoshi Nakamoto, the pseudonymous creator of Bitcoin, the coefficient is a metric used to measure the decentralization of a blockchain network. It calculates the minimum number of entities…
Staying Just Under: The Script Kiddie’s Guide to Money Laundering
One of the simplest and most common techniques used by rookie money launderers is “structuring” or “smurfing”—breaking up large transactions into smaller amounts to avoid detection. The goal is to…
The 101: Everything Synthetic ID
Some of the most horrible crimes we have seen in our career was not Identify theft but synthetic ID. We saw a fraud vector that had the patience to raise…
The 2024 APP Fraud Report by the PSR
Just in case you were missing more acronyms – we got you covered. Account Push Payments (APP) are at the top of mind as the 7th October deadline looms when…
What are financial crime rule categories, and why is understanding them important?
Financial crime analytical systems have rules, rule types, and rule categories, so what are these? And when do you use one and not the other? Let’s learn about them. Rule…
Building Financial Crime rules: Preventing Structuring
AUSTRAC has updated its guidance position on the reporting of threshold transaction reports (TTRs) when a customer conducts multiple cash transactions. What is this act about? AUSTRAC, Australia’s financial intelligence…
Building Financial Crime rules – High Risk Transaction Blocking
Argentina’s central bank halts cryptocurrencies from payment apps How will you implement a fraud prevention rule of this rule? Let us understand more about this decision by the central bank…