Industry WIKI

Altyn Asyr (lit. 'Golden age') is a Turkmenistani domestic card scheme founded in 2001 by the Central Bank of Turkmenistan. The Altyn Asyr system is an integral part of Turkmenistan's payment infrastructure. Altyn Asyr offers financial services, including credit card, debit card, and prepaid card issuing and network processing.

Banking software refers to computer systems used by financial institutions to manage and deliver banking services. These systems support functions such as account management, transaction processing, record keeping, and customer interactions across various channels. Banking software may include core baking systems as well as applications for online, mobile, and automated services. Its

A binary option is a financial exotic option in which the payoff is either some fixed monetary amount or nothing at all. The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option. The former pays some fixed amount of cash if the option expires in-the-money while the latter pays the value of the underlying security. They are also cal

BitClout was an open source blockchain-based social media platform. On the platform, users could post short-form writings and photos, award money to posts they particularly like by clicking a diamond icon, as well as buy and sell "creator coins" (personalized tokens whose value depends on people's reputations). BitClout ran on a custom proof of work blockchain, and was a prototype of wha

In finance, a bull is a speculator in a stock market who buys a holding in a stock in the expectation that, in the very short-term, it will rise in value, whereupon they will sell the stock to make a quick profit on the transaction. Strictly speaking, the term applies to speculators who borrow money to fund such a purchase, and are thus under great pressure to complete the transaction be

A bureau de change (plural bureaux de change, both BURE-oh də SHONZH; British English) or currency exchange (American English) is a business where people can buy or sell a foreign currency.

A charge card is a type of credit card that enables the cardholder to make purchases which are paid for by the card issuer, to whom the cardholder becomes indebted. The cardholder is obliged to repay the debt to the card issuer in full by the due date, usually on a monthly basis, or be subject to late fees and restrictions on further card use. Charge cards are distinct from traditional c

Check kiting or cheque kiting (American and British English, respectively) is a form of bank check fraud, involving taking advantage of the float provided by a bank to make use of non-existent funds in a checking or other bank account. Thus, instead of being used as intended, as a negotiable instrument, checks are misused to source (and manage the flow and timing of) a form of unauthoriz

Cheque fraud (Commonwealth English) or check fraud (American English) is a category of criminal acts that involve the unlawful use of cheques to illegally acquire or (effectively) to borrow funds that do not exist within an account balance or account-holder's legal ownership. Most methods involve taking advantage of the float (the money made available by a bank for a time between the pre

ChromaWay is a Swedish blockchain technology company founded in 2014, involved in decentralized applications, relational blockchain technology, web3, and smart contracts.

Circular trading is a type of securities fraud that can take place in stock markets, causing price manipulation and often related to pump and dump schemes. Circular trading occurs when identical buy and sell orders are entered at the same time with the same number of shares and the same price. As a result, there is no change in ownership of shares, but there is the appearance of an incre

A commodity currency is a currency that co-moves with the world prices of primary commodity products, due to these countries' heavy dependency on the export of certain raw materials for income. Commodity currencies are most prevalent in developing countries (eg. Burundi, Tanzania, Papua New Guinea). In the foreign exchange market, commodity currencies generally refer to the New Zealand d

A credit card (or charge card) is a payment card, usually issued by a bank, allowing the card's users to purchase goods and services, or withdraw cash on credit. Card use thereby accrues debt that must be repaid later.

Cryptocurrency has been used extensively in criminal activities, such as investment and romance scams (often called "pig-butchering"), ransomware payments, thefts and exchange hacks, money laundering and sanctions evasion, darknet-market transactions, and off-chain coercion to obtain private keys. Law enforcement notes that investment fraud and laundering are frequent criminal uses of cr

Cryptojacking is the act of exploiting a computer to mine cryptocurrencies, often through websites, against the user's will or while the user is unaware. One notable piece of software used for cryptojacking was Coinhive, which was used in over two-thirds of cryptojacks before its March 2019 shutdown. The cryptocurrencies mined the most often are privacy coins—coins with hidden transactio

Currency depreciation is the loss of value of a country's currency with respect to one or more foreign reference currencies, typically in a floating exchange rate system in which no official currency value is maintained. Currency appreciation in the same context is an increase in the value of the currency. Short-term changes in the value of a currency are reflected in changes in the exch

Currency intervention, also known as foreign exchange market intervention or currency manipulation, is a monetary policy operation. It occurs when a government or central bank buys or sells foreign currency in exchange for its own domestic currency, generally with the intention of influencing the exchange rate and trade policy.

A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market. The currency that is used as the reference is called the counter currency, quote currency, or currency and the currency that is quoted in relation is called the base currency or transaction currency.

Papua New Guinea's Department of Finance is responsible for the "protection of public money" in Papua New Guinea (PNG). It aims to improve "the transparency and accountability of the accounting and financial reporting and their frameworks" in the country. The department is led by a Minister of Finance. The headquarters of the department are at Vulupindi Haus, Waigani.

In economics, a dual exchange rate is the occurrence of two different values of a currency for different sets of monetary transactions. One of the most common types consists of a government setting one exchange rate for specific transactions involving foreign exchange and another exchange rate governing other transactions.

Electronic benefit transfer (EBT) is an electronic system used in the United States that allows state welfare departments to issue benefits via a magnetically encoded payment card. It reached nationwide operations in 2004.

In macroeconomics, a flexible exchange-rate system is a monetary system that allows the exchange rate to be determined by supply and demand.

In macroeconomics and economic policy, a floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which a currency's value is allowed to fluctuate in response to international events affecting exchange rates. A currency that uses a floating exchange rate is known as a floating currency. In contrast, a fixed currency is one where

Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents, on the purchase/sale of local currency by nonresidents, or the transfers of any currency across national borders. These controls allow countries to better manage their economies by controlling the inflow and outflow of currency, which may otherwise crea

Foreign exchange fraud is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Currency trading became a common form of fraud in early 2008, according to Michael Dunn of the U.S. Commodity Futures Trading Commission.

Foreign exchange regulation is a form of financial regulation specifically aimed at the over-the-counter Forex market that is decentralized and operates with no central exchange or clearing house. Due to its decentralized and global nature, the foreign exchange market has been more prone to foreign exchange fraud and has been less regulated than other financial markets.

A foreign exchange spot transaction (FX spot) is an agreement between two parties to buy one currency against selling another currency at an agreed price for settlement on the spot date. The exchange rate at which the transaction is done is called the spot exchange rate. As of 2010, the average daily turnover of global FX spot transactions reached nearly US$1.5 trillion, counting 37.4% o

Front running, also known as tailgating, is the practice of entering into an equity (stock) trade, option, futures contract, derivative, or security-based swap to capitalize on advance, nonpublic knowledge of a large ("block") pending transaction that will influence the price of the underlying security. In essence, it means the use of knowledge of an impending trade to engage in a person

A gift card, also known as a gift certificate in North America, or gift voucher or gift token in the UK, is a prepaid stored-value money card, usually issued by a retailer or bank, to be used as an alternative to cash for purchases within a particular store or related businesses. Gift cards are also given out by employers or organizations as rewards or gifts. They may also be distributed

HyperVerse is a defunct cryptocurrency hedge fund (formerly HyperNation, then HyperFund, then HyperVerse in 2021). The collapse of the company resulted in approximately $1.3 billion in customer losses.

The interbank market is the top-level foreign exchange market where banks exchange different currencies. The banks can either deal with one another directly, or through electronic brokering platforms. The Electronic Broking Services (EBS) and Thomson Reuters Dealing are the two competitors in the electronic brokering platform business and together connect over 1000 banks. The currencies

Liberty Reserve was a Costa Rica-based centralized digital currency service that billed itself as the "oldest, safest and most popular payment processor, serving millions all around a world". Liberty Reserve was conceived as a "PayPal for the unbanked," allowing the 2.5 billion people without bank accounts or credit histories to participate in the modern economy. The site had over one mi

A linked exchange rate system is a type of exchange rate regime that pegs the exchange rate of one currency to another. It is the exchange rate system implemented in Hong Kong to stabilise the exchange rate between the Hong Kong dollar (HKD) and the United States dollar (USD). The Macao pataca (MOP) is similarly linked to the Hong Kong dollar.

A managed float regime, also known as a dirty float, is a type of exchange rate regime where a currency's value is allowed to fluctuate in response to foreign-exchange market mechanisms (i.e., supply and demand), but the central bank or monetary authority of the country intervenes occasionally to stabilize or steer the currency's value in a particular direction. This is in contrast to a

Mark-to-market (MTM or M2M) or fair value accounting is accounting for the "fair value" of an asset or liability based on the current market price, or the price for similar assets and liabilities, or based on another objectively assessed "fair" value. Fair value accounting has been a part of Generally Accepted Accounting Principles (GAAP) in the United States since the early 1990s. Fail

A merchant account is a type of bank account that allows a seller, known as the merchant, to accept payments by debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, payment service provider, independent sales organization (ISO), or

Mirror trading is a trading selection methodology that can be carried out in both the foreign exchange and the stock markets; however, this is much more common in trading in the foreign exchange market.

Mismarking in securities valuation takes place when the value that is assigned to securities does not reflect what the securities are actually worth, due to intentional fraudulent mispricing. Mismarking misleads investors and fund executives about how much the securities in a securities portfolio managed by a trader are worth (the securities' net asset value, or NAV), and thus misreprese

Mondex was a smart card electronic cash system, implemented as a stored-value card and owned by Mastercard.

A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different

In finance, a non-deliverable forward (NDF) is an outright forward contract or futures contract in which counterparties settle the difference between the contracted NDF price or rate and the prevailing spot price or rate on an agreed notional amount. It is used in various markets such as foreign exchange and commodities. NDFs are also known as forward contracts for differences (FCD).

An overdraft occurs when something is withdrawn in excess of what is in a current account. For financial systems, this can be funds in a bank account. In these situations the account is said to be "overdrawn". In the economic system, if there is a prior agreement with the account provider for an overdraft, and the amount overdrawn is within the authorized overdraft limit, then interest i

Payment cards are part of a payment system issued by financial institutions, such as banks, to a customer that enables its owner (the cardholder) to access the funds in the customer's designated bank accounts, or through a credit account and make payments by electronic transfer with a payment terminal and access automated teller machines (ATMs). Such cards are known by a variety of names

A payment terminal, also known as a point of sale (POS) terminal, card machine, credit card machine, card reader, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly"), is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad (called a PINpad) for entering PIN,

The Plaza Accord was a joint agreement signed on September 22, 1985, at the Plaza Hotel in New York City, between France, West Germany, Japan, the United Kingdom, and the United States, to depreciate the U.S. dollar in relation to the French franc, the German Deutsche Mark, the Japanese yen and the British pound sterling by intervening in currency markets. The U.S. dollar depreciated sig

Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance Corporation (FDIC) broadly defines predatory lending a

Quahl ( k-oo-ah-l), formerly known as Initiative Q, was an attempt to create a new payment network and digital currency. It was created by Israeli entrepreneur Saar Wilf, who previously founded Fraud Sciences, a payment security company acquired by PayPal. Quahl is backed by Cato Institute economist Lawrence H. White. The initiative has indicated it will not take measures to evade state

Retail foreign exchange trading is a small segment of the larger foreign exchange market where individuals speculate on the exchange rate between different currencies. This segment has developed with the advent of dedicated electronic trading platforms and the internet, which allows individuals to access the global currency markets. As of 2016, it was reported that retail foreign exchang

A securities class action (SCA), or securities fraud class action, is a lawsuit filed by investors who bought or sold a company's publicly traded securities within a specific period of time (known as a “class period”) and suffered economic injury as a result of violations of the securities laws.

Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information. The setups are generally made to result in monetary gain for the deceivers, and generally result in unfair monetary losses for the investors. They are generally violating

A security token offering (STO) / tokenized IPO is a type of public offering in which tokenized digital securities, known as security tokens, are sold in security token exchanges. Tokens can be used to trade real financial assets such as equities and fixed income, and use a blockchain virtual ledger system to store and validate token transactions.

Skattrannsóknarstjóri ríkisins, also known as the Directorate of Tax Investigations (DTI) is responsible for investigating legal cases where suspicions of tax fraud, tax evasion, or other violations of tax law are found within Iceland. The DTI is accountable to the Minister of Finance.

A smart contract is a computer program or a transaction protocol that is intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need for trusted intermediators, arbitration costs, and fraud losses, as well as the reduction of malicious and accidental exceptions.

Subordination in banking and finance refers to the order of priorities in claims for ownership or interest in various assets.

A payment surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card, debit card or an e-money account, but not cash, which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. Retailers generally incur higher costs when

Terra is a blockchain protocol and payment platform used for algorithmic stablecoins. The project was created in 2018 by Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin. It is best known for its Terra algorithmic stablecoin and the associated LUNA reserve asset cryptocurrency.

The trade-weighted US dollar index, also known as the broad index, was a measure of the value of the United States dollar relative to other world currencies. It was a trade weighted index that improved on the older U.S. Dollar Index by incorporating more currencies and yearly rebalancing. The base index value was 100 in January 2006.

Truck wages are wages paid not in conventional money but instead in the form of payment in kind (i.e. commodities, including goods and/or services); credit with retailers; or a money substitute, such as scrip, chits, vouchers or tokens. Truck wages are a characteristic of a truck system, and are banned by the labour legislation of many countries.

WePay is an online payment service provider based in the United States. It provides an integrated and customizable payment solution, through its APIs, to platform businesses such as crowdfunding sites, marketplaces and small business software companies. It also offers partners fraud and risk protection.

ZachXBT, also identified as Zachary Wolk is a pseudonymous American blockchain investigator and open-source intelligence (OSINT) researcher known for independent forensic investigations into cryptocurrency fraud, scams, and thefts. He has been active on X (formerly Twitter) since 2021, publishing detailed investigative threads that trace stolen funds, expose rug pulls, and identify perpe