Upbit, South Korea’s most prominent cryptocurrency exchange, is currently grappling with a significant regulatory challenge that may result in a six-month suspension due to alleged violations of Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This issue, raised by South K
The financial industry is currently grappling with a significant and unprecedented challenge: the rapid advancement of deepfake fraud technology. With the swift evolution of AI capabilities, fraudsters are now able to create hyper-realistic fabricated images, videos, and audio, bypassing
Elder fraud has become an increasingly pressing issue across the United States, with over 101,000 Americans aged 60-plus being defrauded of $3.4 billion nationwide last year alone. In Maine, 397 reported cases accounted for a loss exceeding $7.1 million. With many fraud incidents going unreported,
RegTech Revolution: Lowering Compliance Costs and Enhancing Risk Management The innovative field of Regulatory Technology (RegTech) is transforming compliance and risk management for businesses, particularly in highly regulated industries. By leveraging sophisticated technologies such as artificial
Payment fraud poses a significant challenge globally, with fraudsters constantly evolving their tactics to exploit weak points in the payment ecosystem. In response, the European Union (EU) has proposed updates to its regulatory framework for payments, including a new Payment Services Regulation
The implementation of the Texas Data Privacy and Security Act, which took effect on January 1st, has significantly enhanced consumer data privacy protection by amending the state's Business and Commerce Code in a substantial way. This landmark law mandates that businesses now honor data
