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A new report reveals a staggering $5.6 billion in losses due to cryptocurrency-related fraud in 2023, a 45% increase from last year. Over 69,000 complaints were filed, with investment scams responsible for 71% of the losses. The decentralized nature and speed of crypto transactions make it a prime target for scammers. The FBI, alongside the American Bankers Association Foundation, urges consumers to be vigilant. Watch out for these warning signs: - Unexpected contact from strangers - Requests to avoid financial advisors or institutions Learn more warning signs here: https://bit.ly/47E4X90

Evdokia Pitsillidou and Constantinos Michaelides discuss the process of crypto transactions between exchanges, focusing on wallet identification, anti-money laundering (AML) measures, and trust systems like Swift. Short from episode 22 "Financial Regulation, Problem-Solving, & Crypto Insights" Watch the Full episode here 👉 https://lnkd.in/dbXq8Fg7

FBI says they are seeing increase in criminals using artificial intelligence to take your money: The FBI is reporting a major increase in investment fraud, crypto currency and other financial schemes. http://dlvr.it/TGrRcC

🤔 KYC and crypto anonymity? While centralized exchanges might limit anonymity with KYC, decentralized exchanges often offer more private trading options. https://lnkd.in/g2rwJqq5

Crypto crimes come in many forms, each demanding advanced tools for deeper investigations. The key? Bringing diverse data sources together into a centralized platform for seamless analysis. But what other challenges do investigators encounter? Watch the recording to explore a successful case study that traced and prosecuted crypto investment scams worth $2B. https://lnkd.in/gtryqk_E

🏢 Regulators are taking note of crypto lending platforms. From SEC fines to emerging rules, we cover the changing regulatory landscape. https://lnkd.in/eScY5Nm5

Wish to stay up to date during moving markets? This is a great opportunity to stay informed about the latest developments in global crypto markets and to receive guidance on efficient market entry solutions. Register for free #news #investments #guidance

BREAKING: SEC RESCINDS SAB121 The SEC's decision to rescind SAB 121 reflects a shift towards easing regulatory burdens on crypto custodians, potentially encouraging more financial institutions to engage in crypto custody services. Commissioner Mark Uyeda, acting Chair of the SEC, has been vocal about his desire to withdraw SAB 121, which suggests a significant policy change under his leadership. Industry experts anticipate that the repeal of SAB 121 will unlock opportunities for banks and other entities in capital markets by simplifying the regulatory environment for crypto asset custody. Big news for crypto businesses.

Rant of the day: French official tax site now requires a minimum 20-character password. Why the need for such a long password when more hash iterations can significantly slow down external/internal attacks by making the crypto algorithm sluggish? In my experience, around 8000 iterations allow the algorithm to take about 0.3 seconds per password; the more iterations, the slower it gets!

The FCA has published a discussion paper on crypto regulation, asking for feedback by 14 Mar 2024. The FCA is aiming to bring about a fair and balanced approach to crypto regulation by: - improving regulatory clarity so that there are clear and consistent ‘rules of the game’ for firms and consumers - making sure consumers have the information they need before buying or selling cryptoassets - requiring controls and processes to bring about fair and orderly trading conditions - further reducing risks of money laundering and losses to fraud