Nasdaq CEO: Financial crime is now a multitrillion-dollar epidemic – Yahoo Finance

No Comments

Premium Domain Names for Sale at
The business of crime is having a field day deep inside of the world’s interconnected financial system.
Or so reveal some shocking findings out of the Nasdaq stock exchange on Tuesday.
In 2023, more than $3 trillion in illicit funds flowed through the global financial system, according to Nasdaq’s research. The breakdown: $782.9 billion in drug trafficking activity, $346.7 billion in human trafficking, and $11.5 billion in terrorist financing.
In addition, there were $485.6 billion in losses from a range of fraud scams and bank fraud schemes worldwide.
“Those are just staggering statistics,” Nasdaq CEO Adena Friedman told Yahoo Finance Live at the World Economic Forum in Davos, Switzerland.
Nasdaq added that the figures only represent a “fraction” of the “true scope” of financial crimes from last year.
“The true scale cannot be accurately measured in numbers, given how much crime goes unreported by victims and undetected in the current financial system,” the report went on to say.
The survey’s findings mostly come from 209 anti-financial crime professionals from bank and nonbank institutions in North America, with assets ranging from $10 billion to over $500 billion.
Friedman pointed out that the financial system is at risk if the issue of fraud isn’t properly addressed by financial institutions, the government, and other parties.
“A single bank, a single institution, cannot solve this problem. And law enforcement alone can’t solve it either,” said Friedman. “So it has to be a public-private partnership. It has to be that the banks work together. They share information so that they can actually tackle the problem together and that they also work very closely with law enforcement.”
Given the scope of the problem, Friedman — head of Nasdaq since 2017 — has sought to reposition the stock exchange from solely being a destination to list and trade tech stocks to being one that helps institutions address fraud.
In 2020, Nasdaq purchased anti-financial crime software firm Verafin for $2.75 billion. The business has gone on to become a growth juggernaut for the company.
Verafin saw third quarter sales surge 29% from a year ago, amid the adoption of its fraud and anti-money laundering solutions amongst small and medium-sized banks. Existing clients also gave Verafin more business.
The company recently appointed Brendan Brothers as head of its new anti-financial crime unit. Brendan Brothers is a co-founder of Verafin.
“Verafin has been a home run,” said JPMorgan analyst Michael Cho in a client note seen by Yahoo Finance. “While the competitive environment is always a consideration, Verafin has been winning market share from competitors as well as displacing internal systems in further penetrating the market.”
Read the latest from the World Economic Forum in Davos, Switzerland:
IMF managing director on AI’s impact: New social safety nets may be needed
IMF managing director Kristalina Georgieva on crypto: It’s not money
Microsoft co-founder Bill Gates on AI’s impact on jobs: It’s great for white-collar workers, coders
Generative AI is miracle technology for profit-hungry CEOs: PwC survey
‘Sheer panic’ from European leaders on potential second Trump term: Ian Bremmer
PepsiCo CEO on leadership, ultra-processed foods, and weight-loss drugs
Brian Sozzi is Yahoo Finance’s Executive Editor. Follow Sozzi on Twitter/X @BrianSozzi and on LinkedIn. Tips on deals, mergers, activist situations, or anything else? Email
Click here for in-depth analysis of the latest stock market news and events moving stock prices.
Read the latest financial and business news from Yahoo Finance
(Bloomberg) — Three of the world’s top commodity trading houses used state oil companies from China, Thailand, Oman and Uruguay as fronts in their corrupt deals with Ecuador, a federal jury in Brooklyn, New York has heard.Most Read from BloombergBlinken’s Return From Davos Was Delayed After Plane Broke DownYouTube and Spotify Won’t Launch Apple Vision Pro Apps, Joining NetflixPakistan’s Army Strikes Back at Iran as Both Sides Urge CalmAirstrikes on Yemen Bring New Level of Chaos to Shipping in
BRUSSELS (Reuters) -U.S. chipmaker Intel’s fight against a 1.06 billion euro ($1.2 billion) EU antitrust fine was boosted on Thursday by an adviser to Europe’s top court finding EU regulators at fault on their economic analysis. The case dates from 2009 when the European Commission fined Intel for trying to thwart rival Advanced Micro Devices by giving rebates to computer makers Dell, Hewlett-Packard Co, NEC and Lenovo for buying most of their chips from Intel. A lower tribunal had in 2022 scrapped the fine, prompting the EU competition enforcer to appeal to the Luxembourg-based Court of Justice of the European Union (CJEU).
Paypal (PYPL) has received quite a bit of attention from users lately. Therefore, it is wise to be aware of the facts that can impact the stock’s prospects.
In the early days of Microsoft Corp., the work environment was intensely demanding, a culture largely shaped by Co-Founder Bill Gates. In a 2016 BBC Radio 4 interview, Gates acknowledged his extreme dedication to work, saying, “I was quite fanatical about work.” Gates was aware of his demanding standards, as he stated, “I had to be a little careful not to apply my standards onto how hard they worked.” However, he still kept a close eye on his employees’ work hours, noting, “I knew everybody’s li
The Oracle of Omaha has bought shares of a company near and dear to his heart for 21 consecutive quarters — and no, it’s not Apple!
Looking to supplement your income with The Coca-Cola Company (NYSE:KO) dividends? Aiming for $500 monthly? Here’s how much you need to invest. Coca-Cola’s Financial Snapshot As of Jan 18, Coca-Cola’s shares were trading at $59.70. The company, with a market cap of $258 billion experienced a 52-week range between $64.99 and $51.55. Analyzing Coca-Cola’s Dividend Payouts During the third quarter of 2023, Coca-Cola announced a dividend of $0.46 per share, a slight increase from $0.44 in the same pe
Marvell Technology stock was rising Friday after a Citi analyst named the chip maker as its No. 1 specialty semiconductor pick. Citi analyst Atif Malik said in a research note Friday that Marvell is now his favorite specialty chip stock, while Nvidia is now No. 2. Malik maintained Buy ratings for both Marvell and Nvidia, with targets of $75 and $575 for their respective stock prices.
The fact that Nvidia’s business is on fire is no surprise — the AI stock was one of last year’s best. But it’s not alone in growing like crazy.
The Chinese electric vehicle stock looks cheap now.
Tech stocks helped lead the benchmark S&P 500 to its first record close in over two years on Friday.
Boeing (BA) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.
(Bloomberg) — Chinese stocks just capped another dismal week, with a gauge of mainland firms listed in Hong Kong languishing at the bottom of global equity index rankings for the year so far.Most Read from BloombergPutin Orders Hunt for Property of Russian Empire, Soviet UnionFord Cuts Workforce Making Electric F-150s on Weak DemandYouTube and Spotify Won’t Launch Apple Vision Pro Apps, Joining NetflixS&P 500 Hits All-Time High in Historic Bull Run: Markets WrapChina’s $6.3 Trillion Stock Sello
Dorian, ZIM Integrated Shipping and Ardmore Shipping have been highlighted in this Industry Outlook article.
Shares of electric-vehicle makers are getting crushed again. There’s no shortage of reasons why investor sentiment is weakening.
The tide is turning for AT&T one analyst team said, lifting its rating on the telecommunications stock. Oppenheimer analysts Timothy Horan and Edward Yang upgraded AT&T to Outperform from Perform in a Friday research report. “T has underperformed the market and peers the past few years as the company underwent a difficult transition to position itself as a pure connectivity provider,” Horan and Yang wrote.
Passive income investors are attracted to the massive dividend yield this stock offers.
Mark Cuban made news in 2023 by announcing he was ending his tenure on “Shark Tank” and then closed out the year by selling a share of his Dallas Mavericks National Basketball Association (NBA) franchise for $3.5 billion. He also rewarded his loyal employees with the Mavericks by paying them bonuses worth $35 million after the sale. This move further cemented his status as one of America’s coolest billionaires. Don’t Miss: Here is where your most successful angel investment may be hidden. Copy a
These businesses are on firmer footing than you might expect from stocks with dividend yields above 9% at the moment.
QuantumScape’s solid-state battery cells have shown a lot of promise so far, but investors have found a reason to worry.
The semiconductor market is expected to grow by double digits in 2024.

Premium Domain Names:

A premium domain name is a highly sought-after domain that is typically short, memorable, and contains popular keywords or phrases. These domain names are considered valuable due to their potential to attract more organic traffic and enhance branding efforts. Premium domain names are concise and usually consist of one to two words or two to four individual characters.

Top-Level Domain Names for Sale on

If you are looking for top-level domain names for sale, you can visit is a platform that offers a selection of domain names at various price ranges. It is important to note that the availability of specific domain names may vary, and it’s recommended to check the website for the most up-to-date information.

Contact at

If you have any inquiries or need assistance regarding the domain names available on, you can reach out to them via email at Feel free to contact them for any questions related to the domain names or the purchasing process.

Availability on,, and

Apart from, you can also explore other platforms like,, and for available domain names. These platforms are popular marketplaces for buying and selling domain names. Each platform may have its own inventory of domain names, so it’s worth checking multiple sources to find the perfect domain name for your needs.

#PremiumDomains #DomainInvesting #DigitalAssets #DomainMarketplace #DomainFlipping #BrandableDomains #DomainBrokers #DomainAcquisition #DomainPortfolio #DomainIndustry #DomainAuctions #DomainInvestors #DomainSales #DomainExperts #DomainValue #DomainBuyers #DomainNamesForSale #DomainBrand #DomainInvestment #DomainTrading

About us and this blog

We are a digital marketing company with a focus on helping our customers achieve great results across several key areas.

Request a free quote

We offer professional SEO services that help websites increase their organic search score drastically in order to compete for the highest rankings even when it comes to highly competitive keywords.

Subscribe to our newsletter!

There is no form with title: "SEOWP: MailChimp Subscribe Form – Vertical". Select a new form title if you rename it.

More from our blog

See all posts

Leave a Comment