Feed Items
The Treasury Department has debuted rule changes designed to help banks maintain compliance.
[contact-form-7]
The department’s Financial Crimes Enforcement Network (FinCEN) issued an order Friday (June 27) that allows banks to collect tax identification number (TIN) information from a third party rather than from the financial institution’s customer.
“We recognize that the way...
The hacking group Scattered Spider could be trying to trap airlines in its web.
[contact-form-7]
The FBI is warning that it had “recently observed” cyberattacks that resemble Scattered Spider to include the air travel industry, TechCrunch reported Saturday (June 28), citing a statement from the law enforcement agency.
The report also cited recent warnings from Google’s Mandiant...
The future of the Consumer Financial Protection Bureau’s (CFPB) funding is once again uncertain.
[contact-form-7]
That’s because Senate Republicans have gotten permission from the chamber’s parliamentarian to include a measure in President Donald Trump’s tax bill that slashes funds for the agency, Reuters reported Friday (June 27).
The measure would reduce the consumer watchdog agency’...
Looking for a travel-related business that’s actually booming during the year of COVID-19? It’s out on the water, in rented boats of every shape and size from kayaks to luxury yachts.
“We had our drop-off in April, and then come May we saw a very quick rebound, Bryan Petro, chief operating officer of boat rental and charter marketplace GetMyBoat, told PYMNTS. “From April [to August], we are...
In China, crypto over-the-counter (OTC) traders are being arrested in an attempt to crack down on illegal transactions, according to a report from CoinDesk.
Prominent OTC trader Zhao Dong, of crypto lending platform RenrenBit, was held up by police in the city of Hangzhou, the report says. Zhao has a prominent status among the community, and rumors online began to circulate. One poster relayed...
Two innovators approached a well-heeled investor asking for money. Their sales pitch was very convincing. They told this investor that their innovation was so incredibly cutting-edge that only the hopelessly uninformed would fail to recognize its value. The innovators said that they had picked him because he was smart and forward-thinking enough to see the potential. The investor, who prided...