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GoFundMe Shuts Down Tornado Cash Legal Defence Fund
Campaigners who are raising money on behalf of the indicted founders of Tornado Cash, the crypto mixing service, have had their GoFundMe account shut down.
The Free Pertsev and Storm campaign, named after Alexey Pertsev and Roman Storm, announced last week that GoFundMe had shut down their account based on Term 22 of GoFundMe’s terms of service.
This allows GoFundMe to “restrict” or “inhibit” use of the service to prevent “any activity” that it deems “unacceptable or objectionable”.
As covered by Vixio, Storm was arrested in August last year and was charged with conspiracy to commit money laundering and conspiracy to violate the International Economic Emergency Powers Act.
He was also charged with conspiracy to operate an unlicensed money transmitting business.
Revolut Launches AI Feature To Protect Customers From Card Scams
Revolut has launched a new AI feature that aims to detect if a customer is being targeted by a card scam and alert the customer before they part with their money
Since initial testing began, Revolut has seen a 30 percent reduction in fraud losses resulting from card scams where money has been sent to a perceived investment opportunity.
Built internally by Revolut’s financial crime team, the new feature can determine if there is a high likelihood that the customer is making a card payment as part of a scam and, if so, decline the payment.
The customer is then protected from performing other similar payments and sent through a scam intervention flow in-app.
During this phase, the customer needs to provide additional information about the transaction they were attempting and can also talk to a Revolut fraud specialist, who will help determine whether they are being scammed.
