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Ongoing disruptions and a reported ransom payment highlight the complexity of cybercrime networks and the pitfalls of paying ransoms.

The ruling comes in a lawsuit New York Attorney General Letitia James filed in 2020, claiming Jonathan Braun and others made thousands of merchant cash advances to small businesses, charged annualized interest that sometimes exceeded 1,000% and defrauded and harassed borrowers. 

Nathan Stevenson is the founder and CEO of ForwardLane.

Prior to launching ForwardLane in 2015, Nathan worked in the financial services and technology sectors, including roles at BNP Paribas, asset manager CQS and the Johannesburg Stock Exchange. He is a noted commentator on AI application in financial services. 

Treasury's Financial Crimes Enforcement Network said most small businesses will need to report information about their beneficial owners at the start of next year; certain financial and government entities are exempt because of their preexisting regulatory requirements.

Sean Vanatta is a lecturer in economic history at the University of Glasgow and a senior fellow at the Wharton Initiative on Financial Policy and Regulation. His book, Plastic Capitalism: Banks, Credit Cards, and the End of Financial Control, was published by Yale University Press in 2024.

BMO says the shutdown will result in job losses as it shifts its resources to other areas.

Payments revenue growth is slowing from economic headwinds, lower-cost digital transactions and upstarts cutting into incumbents' profit margins, according to a Boston Consulting Group report. Here's what to expect.

The product will transform customers' deposits into digital tokens that can be sent instantly anywhere in the world, the company says.

PayPal's new stablecoin offering should be setting off alarms at traditional banks, because it could seriously challenge their dominance in the payments space.

Patricia L. Harman is the editor-in-chief of Digital Insurance, covering the intersection between technology and insurance for the industry. She chairs Digital Insurance's annual Women in Insurance Leadership forum and hosts Digital Insurance's DigIn Podcast. Previously, she served as editor-in-chief of the PC360 group, chaired the Complex Claims & Litigation Forum and hosted the Insurance Speak podcast. Patti covers auto, property & casualty, workers' compensation, fraud, emerging risks, and is a frequent speaker at insurance industry events. She has more than 25 years of experience covering the property restoration and insurance industries, is a member of the National Press Club, and has been honored with over three dozen journalism awards.