The amount cryptocurrency stolen, scammed and blackmailed nearly doubled in 2021. So, it stands to reason that money laundering would be up as well. And it is. The value of the bitcoin and cryptocurrencies laundered in the virtual assets industry was only up 30% between...
Most people think their relatively paltry sum of money isn’t enough to make them the target of fraud, especially when there are so many other bigger and more obvious targets out there. And that attitude is music to the ears of hackers, who are increasingly...
Three years ago, the digital wallet of a west Delhi, India, cryptocurrency investor was hacked, and more than a half million dollars in bitcoin, ether and Bitcoin Cash was taken. Delhi police revealed Monday (Jan. 24) that the stolen funds made their way to Hamas....
Financial crime — you can call it economic crime, too — is, of course, everywhere. And in the bid to blunt the attacks from the fraudsters targeting unwitting victims, bringing their efforts to bear in phishing schemes and account takeovers, in crypto theft and all...
The U.S. Federal Trade Commission (FTC) is staying the course with its fraud investigation into Intuit’s TurboTax even though the Supreme Court reeled in the agency’s powers to hand down penalties in consumer fraud cases, The Information reported, citing unnamed sources with insider information. Intuit’s...
In 2022, when it comes to phishing, application and payments fraud — and all the scams that aim to part us from our money — expect more of what we’ve seen over the last two years of the pandemic, Robin Love, vice president, product management...
The FBI is warning the public that cybercriminals have been tampering with Quick Response (QR) codes to redirect victims to malicious sites that steal their login and financial information, according to a Tuesday (Jan. 18) public service announcement. “Businesses use QR codes legitimately to provide...
What kind of thief gives back $612 million a few days later, saying it was all a prank aimed at showing how poor his victim’s security system is? A crypto criminal. What kind of con man hijacks a presidential candidate’s Twitter account, telling Joe Biden’s...
Preventing payments fraud is a multilayered problem that requires a multilayered approach, Allen Shiber, chief technology officer at nsKnox, told PYMNTS. Payment fraud is difficult to prevent because it comes in many forms and from different places, Shiber said. Firms must be protected from bad...
