India Cracks Down: Stricter Rules To Combat Rising Digital Payments Fraud
India has launched a sharp clampdown on online payment scams, ordering tougher checks and new rules that aim to cut the rising tide of fraud. Based on reports, regulators and payment networks moved after authorities recorded big jumps in both the number of cases and the money lost to scams last year. Related Reading: Australia […]
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Crypto scams appear to be dominating investment fraud cases in Austria. Austrian regulators are calling for stricter crypto laws amid a spate of elaborate investment scams involving cryptocurrency and digital assets.According to a Bloomberg report of Friday, Austria’s Financial Market Authority has revealed that more than 60% of all reported financial fraud in the country involve crypto trading products.The FMA says these crypto scammers are using social media platforms like Telegram and TikTok to advertise their fraudulent offerings to would-be victims.Commenting on the need for stricter....
In a proposal today, the European Commission – the executive arm of the European Union – sought stricter rules on the use of virtual currencies like bitcoin. Citing reasons of terrorism and money laundering, the European Commission has proposed stricter rules for the use of virtual currencies, an official press release revealed today. The changes will see digital currency exchanges and wallet providers fall under the purview of the Anti-Money Laundering Directive (AMLD). Such a move will seek to bring an end to the anonymity associated with digital currency transactions. The proposed rules....
Triggered by the Paris and Brussels attacks, the proposed EU directive seeks to introduce stricter rules on the use of virtual currencies and prepaid cards. How will this affect Bitcoin and digital payments in general? CoinTelegraph spoke to Siân Jones, Founder of European Digital Currency and Blockchain Technology Forum, about the proposal and its possible outcomes. Anti-Money Laundering Directive. As Siân Jones told us, EU officials had been working on the new law since February, talking with virtual currency and prepaid card stakeholders and others, to draft the proposed new directive....
India is reviewing its rules on crypto and security, looking at what other countries, especially the United States, are doing. Major countries like the US are updating their plans for digital assets, and India is also adjusting its strategy to stay in line with global standards. Related Reading: Trump Tariffs Hit Crypto Hard: Bitcoin Crashes […]
Singapore’s central bank, the Monetary Authority of Singapore (MAS), is contemplating imposing stricter rules on retail crypto investors. “MAS regards cryptocurrencies as unsuitable for use as money and as highly hazardous for retail investors,” said the central bank chief. New Rules May Be Coming to Retail Crypto Investors in....