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

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.

SecurityWeek’s Threat Detection and Incident Response Summit brings together security practitioners from around the world to share war stories on breaches, APT attacks and threat intelligence.

Register

Securityweek’s CISO Forum will address issues and challenges that are top of mind for today’s security leaders and what the future looks like as chief defenders of the enterprise.

Register

Expert Insights

Related Content

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...

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

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

A digital ad fraud scheme dubbed "VastFlux" spoofed over 1,700 apps and peaked at 12 billion ad requests per day before being shut down.

Cybercrime

Pig Butchering, also known as Sha Zhu Pan and CryptoRom, is an ugly name for an ugly scam.

Application Security

After skipping last month, Adobe returned to its scheduled Patch Tuesday cadence with the release of fixes for at least 38 vulnerabilities in multiple...

Cybercrime

Spanish and US authorities have dismantled a cybercrime ring that defrauded victims of more than $5.3 million.

Application Security

Software maker Adobe has rolled out its first batch of security patches for 2023 with fixes for at least 29 security vulnerabilities in a...