Article: Fraud Detection And Prevention Market Size Worth $62.70 Billion By 2028: Grand View Research, Inc.

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Fraud Detection And Prevention Market Size Worth $62.70 Billion By 2028: Grand View Research, Inc.

Grand View Research, Inc. , 20 May 2021

The global fraud detection and prevention market size is expected to reach USD 62.70 billion by 2028, registering a CAGR of 15.4% over the forecast period, according to a new report by Grand View Research, Inc. Rise in incidences of mobile payment frauds, phishing, and card frauds, and their subsequent impact on businesses and resultant financial losses are anticipated to drive market growth over the forecast period. Digital transformation is the new buzzword, as businesses transform the way they interact with their customers. However, increased digitization has also exposed businesses to online frauds and scams.

Key suggestions from the report:

An increase in the number of fraudulent activities reported worldwide and increased reliance on online transactions will create opportunities for market growth. The solution segment is expected to register a CAGR exceeding 10.0% from 2021 to 2028. The need to identify behavior or patterns associated with fraudulent activities among enterprises is a key factor expected to favor the segment growth. The proliferation of analytic tools to detect threats or anomalies in organization data is expected to favor fraud analytical solutions growth

Consistent internet access has paved way for digital transactions. However, cyber frauds becoming rampant at an alarming rate has led to the increased demand for fraud detection solutions to curb payment fraud incidences. Larger enterprises have the spending capacity to secure customer as well as business data, and this has resulted in the segment capturing the highest market share in 2020. However, with fraud activities occurring at an alarming frequency, small- & medium-sized enterprises are also expected to increase spending on security solutions over the forecast period.

North America has always been at the forefront of technology developments and digitization of processes. Therefore, the region captured the highest market share in 2020, with increased demand from several tech companies in the region

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Article: US Treasury Plans to Raise Additional $700B Through New Tax Compliance Measures

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US Treasury Plans to Raise Additional $700B Through New Tax Compliance Measures

Matthew De Saro, 20 May 2021

The United States Treasury Department released a statement on Thursday announcing their plans to crack down on tax evasion using cryptocurrency. The Treasury Department plans to raise an additional $700 billion through the new tax compliance measures.

In the 22-page report, officials highlighted a number of policies to grow enforcement aimed at combating the expanding tax gap. The tax gap is the calculated difference between what taxpayers are paying and what they actually owe. Currently, the tax gap is around $600 billion annually.

The Internal Revenue Service (IRS) commissioner, however, believes the number could exceed $1 trillion when cryptocurrencies are taken into account. The policies identified include increased reporting requirements, new auditor tools, and new rules specific to cryptocurrencies.

Closing the gap
The plan will require any transfer of $10,000 or more will be reported to the IRS and could raise as much as $2 trillion over the next 20 years. Just getting close to closing that gap could be a huge step in funding President Biden’s multi-trillion-dollar spending proposals. Proposals aimed at bettering childcare, manufacturing, and other domestic priorities.

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Article: FCC’s Net-Neutrality Proposal Marred by Millions of Fake Comments

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FCC’s Net-Neutrality Proposal Marred by Millions of Fake Comments

James V. Grimaldi, 06 May 2021

Nearly 18 million fake comments were filed with the Federal Communications Commission over its proposal to scale back internet regulation, fueled by both opponents and supporters of the rule, an investigation by the New York attorney general’s office found.

A report by Attorney General Letitia James’s office highlighted companies that specialize in a little-known influence industry that generates made-up comments and often attaches the names of real people caught up in marketing ploys. The 18 million fake comments represented more than 80% of all public comments filed to the FCC on its net-neutrality proposal four years ago. Continue reading “Article: FCC’s Net-Neutrality Proposal Marred by Millions of Fake Comments”

Article: Facing $50B Trial, Drugmakers Minimize Roles In Opioid Sales

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Facing $50B Trial, Drugmakers Minimize Roles In Opioid Sales

Emily Field and Jeff Overley, 20 April 2021

Allergan PLC on Tuesday downplayed its Golden State opioid sales, echoing the strategies of fellow drugmaker defendants from the day before in a closely watched trial where major California counties are seeking $50 billion over the addiction epidemic.

Donna Welch of Kirkland & Ellis LLP, counsel for Allergan, said during the livestreamed bench trial that the company was responsible for one brand-name opioid, Kadian, from 2009 until it was taken off the market in 2020, and that its market share during that time was minuscule — less than a fraction of 1%.

In addition, Allergan stopped marketing the drug in 2012, and even before then, the marketing was conservative and had little if any impact on sales, Welch said. Continue reading “Article: Facing $50B Trial, Drugmakers Minimize Roles In Opioid Sales”

Subject: Hamilton E. James

People, Subject of Interest

Hamilton Evans “Tony” James  (born February 3, 1951) is an American billionaire businessman, and the executive vice chairman of The Blackstone Group, a New York-based global asset management firm, having previously been president and chief operating officer. James has been chairman of Costco since August 2017.

In 1975, James joined investment bank Donaldson, Lufkin & Jenrette and became head of its global M&A group in 1982. He founded DLJ Merchant Banking, Inc in 1985. In 1995, James was appointed chairman of the firm’s banking group, a position he held when DLJ was acquired in 2000 by Credit Suisse First Boston, and was a member of its board of directors. At CSFB, James served on the executive board and as chairman of global investment banking and private equity. A 2007 Wall Street Journal article credited James with leading the acquisition process, on behalf of DLJ. Continue reading “Subject: Hamilton E. James”

Article: Bitfinex, Tether owner pays $18.5 million fine to settle NYAG cryptocurrency cover-up charges

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Bitfinex, Tether owner pays $18.5 million fine to settle NYAG cryptocurrency cover-up charges

Jonathan Stempel, 23 February 2021

NEW YORK (Reuters) – The owner of the Tether cryptocurrency and Bitfinex trading platform will pay an $18.5 million fine to settle charges it commingled client and corporate funds to cover up $850 million that went missing, New York Attorney General Letitia James said on Tuesday.

James said the civil settlement with Hong Kong-based iFinex Inc and related entities will also require them to halt trading activity with New Yorkers.

Bitfinex was accused of having sent the $850 million to Crypto Capital Corp, a payment processor believed to be in Panama, without telling clients, and after the funds went missing, draining at least $700 million from Tether’s reserves. Continue reading “Article: Bitfinex, Tether owner pays $18.5 million fine to settle NYAG cryptocurrency cover-up charges”

Article: Executives are selling stock as the market experiences its epic rebound

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Executives are selling stock as the market experiences its epic rebound

Maggie Fitzgerald, 24 July 2020

Company insiders are dumping shares as stocks experience their epic rebound from the coronavirus recession. The sales are a major shift from the insider buying frenzy during the market bottom in March. Among the sellers are the heads of blue-chip companies like UnitedHealth and BlackRock. Continue reading “Article: Executives are selling stock as the market experiences its epic rebound”

Subject: Letitia James

Subject of Interest

Letitia “Tish” James is the 67th Attorney General for the State of New York.  In 2013, James was elected Public Advocate for the City of New York and then reelected in 2017. Prior to serving as Public Advocate, James represented the 35th Council District in Brooklyn in the New York City Council for ten years. Before her election to the City Council, James served as head of the Brooklyn Regional Office of the New York State Attorney General’s Office. James began her career as a public defender at the Legal Aid Society. She is a graduate of Lehman College and Howard University School of Law.


New York State Attorney General

Article: Robot Funds and Bank Regulation

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Robot Funds and Bank Regulation

Matt Levine, 04 August 2016

What’s Steve Cohen up to? Stamford Harbor Capital, the new firm started by Steven Cohen and led by a longtime deputy, is working with a third-party marketing company that’s meeting with potential clients to gauge interest in investment vehicles that could be started as soon as 2018. Continue reading “Article: Robot Funds and Bank Regulation”