{"id":4599,"date":"2013-08-15T13:40:00","date_gmt":"2013-08-15T13:40:00","guid":{"rendered":"https:\/\/evssolutions.com\/protect-your-company-against-virtual-currency-fraud\/"},"modified":"2013-08-15T13:40:00","modified_gmt":"2013-08-15T13:40:00","slug":"protect-your-company-against-virtual-currency-fraud","status":"publish","type":"post","link":"https:\/\/evssolutions.com\/insights\/protect-your-company-against-virtual-currency-fraud\/","title":{"rendered":"Protect Your Company Against Virtual Currency Fraud"},"content":{"rendered":"

There used to be question of how much gold, silver and
\njewels might be worth, but in todays digital world, a virtual peer-to-peer
\ncurrency has taken charge. The outcome of which leaves us strongly questioning
\nhow much value this virtual currency actually carries. The most popular example
\nof this currency is BitCoin<\/a>.
\nLaunched in 2009, the currency has been a highly controversial commodity with
\nmassive, recent crashes and multiple security concerns. Over a short period of
\ntime the value of BitCoins has soared and has become very attractive to
\nfraudsters and money launderers.<\/p>\n

Virtual currency and digital wallet technology is highly
\nanonymous and similar to online banking. BitCoins are useful but limited. And
\nthey can be repurposed to facilitate criminal acts and launder illicit proceeds
\nwith little tracking of whos doing it. The crime happens when victims
\naccounts are hacked or fake coins are cashed out. This can take seconds with
\nadvanced fraudsters.<\/p>\n

Anti-money laundering professionals are in a constant state
\nof monitoring and educating with the advances in technologies and fraud
\nactivity. But they cant do it alone. Financial
\ninstitutions<\/a> need to be aware of this fraudulent activity as well. This can
\nbe difficult because of limited budgets for fraud prevention
\nservices & systems<\/a> and money laundering solutions. These limited
\nbudgets prevent updates to information sharing processes and systems.
\nOut-of-date systems and equipment raise the level of risks and losses. Implementing
\nfraud prevention solutions can assist in the regulation of money laundering and
\nthe protection of your company. Through id
\nverification and authentication<\/a> there can start to be a standard for
\nvirtual peer-to-peer exchange.<\/p>\n<\/p>\n

[Contributed by EVS Marketing]<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

There used to be question of how much gold, silver and jewels might be worth, but in todays digital world, a virtual peer to peer currency has taken charge. The outcome of which leaves us strongly questioning how much value<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[38],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4599"}],"collection":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/comments?post=4599"}],"version-history":[{"count":0,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4599\/revisions"}],"wp:attachment":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/media?parent=4599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/categories?post=4599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/tags?post=4599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}