Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Fraud & Identity Theft

U.S. Queries PayPal in Money Laundering Probe

San Francisco – US authorities have demanded information from online payment service PayPal as part of a money laundering investigation, according to a regulatory filing available on Wednesday.

San Francisco – US authorities have demanded information from online payment service PayPal as part of a money laundering investigation, according to a regulatory filing available on Wednesday.

“We have received subpoenas from the US Department of Justice seeking the production of certain information related to our historical anti-money laundering program,” Silicon Valley-based PayPal said in an annual report to the US Securities and Exchange Commission.

PayPal noted that it was cooperating with authorities and did not speculate on the outcome of the investigation. No further details were provided.

The news appeared to weigh slightly on PayPal shares, which were down more than 1.5 percent to $40.24 in after-market trades on the Nasdaq.

Written By

AFP 2023

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

Expert Insights

Related Content

Application Security

Virtualization technology giant VMware on Tuesday shipped urgent updates to fix a trio of security problems in multiple software products, including a virtual machine...

Application Security

Fortinet on Monday issued an emergency patch to cover a severe vulnerability in its FortiOS SSL-VPN product, warning that hackers have already exploited the...

Fraud & Identity Theft

Famed hacker Kevin Mitnick has died after a battle with pancreatic cancer.  At the time of his death, he was Chief Hacking Officer at...

Fraud & Identity Theft

A team of researchers has demonstrated a new attack method that affects iPhone owners who use Apple Pay and Visa payment cards. The vulnerabilities...

Cybercrime

Deepfakes, left unchecked, are set to become the cybercriminals’ next big weapon

Cybercrime

A threat actor tracked as ‘Scattered Spider’ is targeting telecommunications and business process outsourcing (BPO) companies in an effort to gain access to mobile...

Application Security

Password management firm LastPass says the hackers behind an August data breach stole a massive stash of customer data, including password vault data that...

Cybercrime

While there are likely many different approaches, here are a few points that are important for enterprises to consider when evaluating bot solutions.