81 articles
Federal prosecutors have secured a guilty plea from the owner of a Santee trucking company in a $2 million credit card fraud and identity theft scheme. Hasan Korkmaz, 45, of…
Federal prosecutors have secured a 19-year prison sentence against a Kansas businessman who operated an online platform that generated false medical orders to defraud Medicare. Brett Blackman, 43, of Johnson…
The SEC is changing its enforcement strategy in the cryptocurrency domain to concentrate more on fraud and investor losses. During a podcast on October 16, Chairman Paul Atkins and Enforcement…
A repeat bank fraudster who sent imposters into bank branches to drain victims’ accounts and cash stolen US Treasury checks has been sentenced to more than 16 years in federal…
A crypto fraud network accused of stealing tens of millions of dollars from Russian-speaking victims in the United States had 241 websites and 112 servers seized or disrupted by Brooklyn…
Banks have an opportunity to strengthen fraud prevention by looking more closely at payments that arrive with a valid login or a customer’s approval. That’s the central implication of the…
Federal prosecutors have sentenced five defendants to prison terms totaling more than 15 years for a conspiracy that stole over $800,000 from a casino and online gaming services company using…
Federal prosecutors have sentenced a Missouri man to four years in prison after he stole more than $373,000 from clients who believed their money was going into retirement investments. Bob…
For card issuers, artificial intelligence is moving closer to the transaction itself. Eighty-nine percent of issuers plan to adopt or expand at least one AI fraud capability, according to the…
Federal prosecutors have charged a California man with conspiracy to commit wire fraud after he allegedly posed as a San Francisco 49ers player or real estate investor to solicit victims…
Brooklyn’s district attorney’s office says it has disrupted a multinational cryptocurrency fraud operation targeting Russians in the U.S. The investigation by the office’s Virtual Currency Unit (VCU) and the FBI…
Two Florida caregivers face felony charges after more than $361,000 was allegedly taken from an elderly assisted living resident and her late husband. The Sarasota County Sheriff’s Office says Reinier…
Fraud teams have spent years weighing whether artificial intelligence (AI) can improve on manual controls. For companies that have deployed the technology, the results are becoming strikingly apparent. Seventy-seven percent…
Haryana Police, in India, launched an investigation against four individuals following fraud complaints tied to the Luxurious Pro Network Token (LPNT) . According to authorities in Pinjore, two victims reported…
A coordinated effort by international law enforcement agencies and tech companies to crack down on fraud and scams based in countries across West Africa led to the arrests of 30…
Chinese fraud victims still owed about £600 million may miss out on gains from a UK Bitcoin (BTC) haul worth £3.8 Billion (or $5 billion). A London judge ruled Chinese…
Chinese fraud victims seeking to recover 61,000 seized Bitcoin face a legal setback after a UK court ruled that Chinese law governs their claims.
Forty-two percent of corporate finance departments deploy a stack of three or more artificial intelligence (AI) tools to secure their outgoing payments, according to the PYMNTS Intelligence and Bottomline collaboration “Prevention First:…
Compliance remains labor-intensive for financial institutions, which must satisfy multiple regulators and meet extensive documentation requirements. Leela is built to perform much of that work rather than simply provide information.…
Like many industries, scamming is getting an artificial intelligence-powered upgrade. That’s according to a report Saturday (Oct. 10) by Bloomberg News, citing data from the Global Anti-Scam Alliance estimating victims…
Photo courtesy of Daniel Harnack Daniel Harnack nearly fell for a personalized AI job scam that used stolen LinkedIn information. He said AI tools are enabling scammers to create highly…
A former mail carrier in Indiana has admitted to stealing checks out of the U.S. mail as part of a $34 million bank fraud conspiracy that hit roughly 6,500 victims.…
New York officials are securing millions in payments and a lifetime ban from the securities and cryptocurrency industries from a former crypto lending platform executive for defrauding investors. The New…
Federal prosecutors have charged a Boston public official with wire fraud for allegedly submitting a fabricated application to obtain pandemic relief funds. Reuben Taylor, 40, of Boston, has agreed to…
