Specialized companies such as Grayscale and Wall Street giants such as asset manager BlackRock are among those investing in the digital token, theoretically opening up the sector to a wider public by allowing investors to bet on bitcoin's price without owning it directly.

The jump in the price of bitcoin to almost $48,000 came immediately after the SEC published a message on its X account (formerly Twitter) suggesting that it had approved the long-awaited launch of a new type of investment product, known as an ETF. But minutes later, SEC Chairman Gary Gensler...

Dubai, United Arab Emirates – Over-confidence is leaving consumers in UAE open to becoming victims of fraud, according to Visa’s annual Stay Secure study released Thursday. Despite more than half of respondents (61 percent vs. 56 percent global average) claiming to be savvy enough to sidestep online and phone scams,...

The Public Company Accounting Oversight Board (PCAOB) imposed the penalty on the China and Hong Kong offices of the "Big Four" auditing company on Thursday. The two offices issued identical statements on Friday saying it was "highly regrettable that a number of employees engaged in the improper sharing and use...

Binance's guilty plea is part of coordinated action including with the Treasury Department's Financial Crimes Enforcement Network and Office of Foreign Assets Control (OFAC), the Department of Justice said. Its violations included its failure to prevent and report transactions with groups like the Islamic State of Iraq and Syria and...

Donald Trump intends to be present for the start of the trial on Monday morning as a civil fraud trial against the former president and two of his sons begins in New York, threatening the Republican frontrunner's business empire as he campaigns to retake the White House with four criminal...

GCC banks started adopting online and mobile banking, and ATMs, in the 1990s and 2000s. More recently, they've integrated advanced technologies like AI, blockchain, and big data, enhancing customer service and fraud detection.

JERUSALEM -  Israeli opposition leader Yair Lapid on Monday testified at a Jerusalem court in Prime Minister Benjamin Netanyahu's ongoing corruption trial. His arrival at the court at around 9:00 am (0600 GMT) was confirmed by two AFP journalists. Lapid's testimony forms part of a case in which Netanyahu is...

Tesla employees "circulated recordings of Tesla customers in private and embarrassing situations, without their consent," courtesy of sophisticated camera systems built into the cars, a court filing contended. The suit accuses Tesla of negligence, fraud and privacy invasion.

Global finance was rocked by the collapse of Silicon Valley Bank last week, and the digital currency sector was hit hard by the demise of US crypto lenders Silvergate and Signature -- just months after the bankruptcy of troubled crypto exchange trading platform FTX. Regulators are increasingly keen for oversight...

Dubai, UAE-- Making payments digitally for every purchase may have become a universal thing, but it is not always the safest method, according to a new survey by Kaspersky. The survey revealed that some 18% of respondents from the Middle East experienced financial losses associated with threats when using online...

Market players may mitigate risks by adopting the best industry practices, securing their reserves and abiding by regulations, an expert tells TRENDS in an interview.

Iraq's Prime Minister Mohammed Shia al-Sudani has said the country's new banking regulations have revealed fraudulent dollar transactions made from his country. In recent months the country has been seeking to make sure that its banking system is in sync with the international electronic transfer system.

The slump in the company's stocks was sparked by a report by US short-seller investment group Hindenburg Research that alleged "brazen stock manipulation and accounting fraud scheme over the course of decades". The conglomerate said it was the victim of a "maliciously mischievous" reputational attack and late Sunday issued a...

Continuing with this week's losses to $45 billion after a US investment firm claimed it had committed "brazen" corporate fraud, shares in the business empire of Asia's richest man Gautam Adani fell down on Friday. He began the week as the world's third-richest man but now has dropped down the...

San Francisco, United States--Tesla CEO Elon Musk took the stand in a California fraud trial on Friday, accused of lying in tweets about taking the auto company private, punishing investors. Musk was called to testify by lawyers for angry investors who accuse him of costing them millions of dollars in 2018...

In a statement, the firm - which in November posted its second consecutive quarterly decline in revenue -said it had found more than 100 employees guilty of violating its anti-fraud policy. More than 10 were transferred to China's public security organ, it added. "In response to the problems of corruption...

It will shield customers from fraud and online threats.

Almost a year after the Dubai Financial Services Authority (DFSA) imposed a heavy penalty on Arif Naqvi, the founder of Abraaj, for what it termed as fraud, the Financial Markets Tribunal has now upheld the DFSA decision to slap a penalty to the tune of $135.56 million, the largest-ever fine...

On Friday, accountancy firm Mazars, engaged by Binance to provide a "proof of reserves" report, abruptly halted work with all crypto firms because of "public misunderstanding" of what they were providing. A "proof of reserves" report is not a full audit and gives no information about liabilities. Media reports suggested...

Appealing to guilty parties to hand themselves in and return all the money, the prime minister of Iraq has revealed that the country has recovered part of $2.5 billion in public funds fraudulently withdrawn from a government account. A wealthy businessman implicated in the theft had given back $125 million.

According to a TRENDS poll, fear of being robbed online by fraudsters prowling on the web is keeping many MENA buyers from making their purchase online.

Nearly a month after a South Korean court issued an arrest warrant for Do Kwon, a cryptocurrency founder, Interpol has issued a red notice for Kwon who flew from South Korea to Singapore ahead of the crash in May. South Korean prosecutors had requested Interpol place him on the red...

The new technology is the most accurate form of identity verification since biometric data is incredibly hard to fake or replicate, and faces cannot be lost, says an expert.

The court battle between Elon Musk and Twitter heats up as the billionaire Tesla boss accuses it of fraud, alleging the social media platform misled him about key aspects of its business before he agreed to a $44 billion buyout. The entrepreneur said he has been deceived by the company.

Even as the interest in crypto remains more or less steady, and investors are still keen to buy in, it’s crucial that anyone looking to invest their hard-earned capital into crypto - particularly retail and first timers - exercise caution and look for a handful things before plunging into the...

A Joint Operations Center for Saudi Banks tasked with following up and monitoring cases of financial fraud that bank customers may be exposed to has been inaugurated by Saudi Central Bank Governor (SAMA) Dr. Fahd bin Abdullah Al-Mubarak. The center brings together all Saudi banks under one roof to improve...

Instagram accounts for 32% of all fraud cases on social media, followed by Facebook and WhatsApp as scammers find it easy to lure and scam unsuspecting victims on social media sites. Commenting on the data, TradingPlatform.com's Edith read said this. "The most vulnerable sites for scamming are meta-owned. This raises...

A 52-year-old Briton has been arrested in Dubai over a $1.7 billion dividend-tax fraud case in Denmark, the Gulf emirate's police said Friday. "Dubai police have arrested Sanjay Shah, a suspect in a 12 billion Danish krone ($1.7 billion) dividend-tax fraud case in Denmark," the police tweeted.

A 52-year-old Briton has been arrested in Dubai over a $1.7 billion dividend-tax fraud case in Denmark, the Gulf emirate's police said Friday. "Dubai police have arrested Sanjay Shah, a suspect in a 12 billion Danish krone ($1.7 billion) dividend-tax fraud case in Denmark, with the aim of subsequent extradition for...

Prosecutors in Algeria on Thursday said ex-football star Rabah Madjer should be jailed for 18 months, during his ongoing trial for fraud.

Some free tickets for the February 15 concert of British music band Coldplay were apparently being resold online for money.

Five different types of financial frauds are prevalent in the Arab world, with 24 criminal methods being used to reach the victims.

A Lebanese judicial delegation will meet French authorities in Paris next week to discuss investigations into Lebanon's central bank governor Riad Salameh, a judicial source said on Thursday. Salameh is among the top Lebanese officials widely blamed for the country's unprecedented financial crisis that the World Bank says is of...

A top law official in the UAE has detailed several cases where the judicial system fined and jailed people for financial irregularities, and recovered sums to the tune of millions of dirhams from them. Many such people were also deported.

Dubai police and a cryptocurrency trading firm have joined hands to make investors and traders aware of the risk of fraud while trading in cryptocurrency.

The Central Bank of the United Arab Emirates has disclosed that there has been an increase in the laundering of money through unlicensed money service providers during the Covid pandemic.

Since the French government made proof of vaccination mandatory to enter cafes and other public places this month, a black market selling fake health passes for hundreds of euros has flourished. Go to the social media app Snapchat, type in "fake health pass" and hey presto.

The authorities will impose a fine of OMR 5,000 (nearly $13,000) on anyone who is found violating this ban, with the penalty doubled for a second violation.

Israel-headquartered firm Windward has launched a system that provides live-screening and tracking of containers

  The reminder comes as part of its ongoing efforts to protect customers from accessing unauthorized payment gateways Emirates Post advised its customers to be wary of emails and messages claiming to be from it and providing links to a third-party payment system Emirates Post, the official postal operator for...

  The police have warned people not to fall for small text messages that simulate government institutions Fraudsters obtain information about an individual's bank account and then steal their money The Abu Dhabi Police have warned people against a slew of cybercrimes that target people in the name of government...

Swindlers passing themselves off as representatives of big companies are cheating people of money using Internet Experts say fraud has surged during the coronavirus pandemic     Fraudsters pretending to be representatives of companies like Google, Amazon, PayPal, Microsoft and many other brands are stalking cyberspace and duping people of...