Regulatory Cases | FinTelegram News

Category: Regulatory Cases

October 9, 2024

The End of The Google Era: US Government Threatens Google with Break-Up Over Search Monopoly!

In August 2024, Judge Amit Mehta ruled that Google had illegally maintained a monopoly in the online search market. Following this landmark decision, the U.S. Department of Justice (DOJ) is considering asking the court to force Google to sell off parts of its business. This could potentially lead to the first major corporate breakup in four decades. Google, however, warns of significant consequences for businesses and consumers.

September 18, 2024

U.S. Tech Companies Face Mounting Regulatory Penalties from EU Authorities

Regulators in the EU are steadily increasing pressure on U.S. tech companies, hitting them with billions in fines for antitrust violations and data privacy breaches. This regulatory offensive is reshaping how these companies operate, especially as new laws like the DMA and DSA come into play. While the U.S. has also taken action against tech giants, the largest monetary penalties have come from European regulators.

September 18, 2024

Google Wins Major Legal Victory in €1.49 Billion EU Antitrust Case

Google’s legal win against the €1.49 billion fine sets a new precedent in Big Tech’s battle with EU regulators, but the scrutiny is far from over as antitrust challenges mount on multiple fronts. Last week, the EU's top court upheld a fine of €2.42 billion imposed on Google for abusing its dominant position by favoring its comparison shopping service. The war of EU regulators against the dominating U.S. tech companies is far from over.

December 12, 2021

Maltese Calamatta Cuschieri was found guilty of not following investments rules!

The Maltese Arbiter for Financial Services ruled that Calamatta Cuschieri Investment Services Ltd (www.cc.com.mt) d/b/a Calamatta Cuschieri is guilty of not meeting the relevant regulatory obligations. The detailed decision describes how an investor lost more than €100,000 through investments, which were suggested to him by Calamatta Cuschieri. The MFSA-regulated company is part of the CC Finance Group PLC and one of the largest financial services firms in Malta and is also the distributor of UBS funds in Malta.

UNODC Report: Technology-Powered Cybercrime on the Rise in Southeast Asia!

The billion-dollar cyberfraud industry in Southeast Asia is booming, fueled by organized crime syndicates exploiting the latest in AI and cryptocurrency. The UNODC report notes that these criminal networks are outpacing government efforts to regulate and combat their operations. Urgent reforms and enforcement are needed to prevent further damage.

How U.S. Law Enforcement Infiltrated The International Crypto Scene!

In an unprecedented move, the FBI infiltrated the crypto world with its own token, NexFundAI, to crack down on market manipulation. This case marks a significant shift in crypto enforcement, signaling that law enforcement is evolving its tactics to keep pace with the complexities of the digital asset space. As more fraudsters are exposed, the crackdown on wash trades and pump-and-dump schemes is just beginning.

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.