Four men were indicted for allegedly engaging in a $16 million wire fraud and money laundering operation connected to their investment firm, which involved fake offerings promising large returns. John C. Nock, 53, of Fayetteville, Arkansas; Brian Brittsan, 65, of San Marcos, California; Kevin Griffith,...
Two Brazilian nationals — one residing in Lowell, Massachusetts and another in Daly City, California — pleaded guilty to conspiracy to commit wire fraud and aggravated identity theft in connection with a nationwide plot to open fraudulent driver accounts with rideshare and delivery service companies....
Romance scams. Puppy scams. Peer-to-peer (P2P) fraud. Like COVID-19 variants, the fraudsters and the scammers’ schemes continue to morph and mutate, shifting to fit the digital age. We don’t always double-check to make sure that the person on the other end of the transaction is...
SIM swaps, employment schemes, business email compromise, tech support fakes, auction fraud, romance scams — fraud comes in many forms, and 2021 was a banner year for it. In its “2021 Internet Crimes Report” released Tuesday (March 22) the FBI called the pandemic era wave...
The hacker gang known as Lapsus$ breached Microsoft’s systems and pilfered the software giant’s source code for the Bing search engine and Cortana voice assistant, according to a blog post late Tuesday (March 22) by Microsoft Security. The Microsoft Threat Intelligence Center (MSTIC), Detection and Response...
Even in the digital age, the phone is the key conduit for interactions between customers and corporations. Amit Gupta, vice president of authentication at Pindrop, told PYMNTS that in a world where 70% of adults still stick with the phone to contact customer service representatives,...
The Li Finance swap aggregator experienced a smart contract attack which led to around $600,000 lost from 29 users’ wallets, a report said. The attack happened at 2:51 a.m. UTC Sunday (about 11 p.m. EDT Saturday), according to Cointelegraph. The attacker was able to exploit...
Trusted user experiences are highly important to consumers accessing digital accounts via desktop browser or mobile device. In fact, eight out of 10 consumers say that digital security impacts how much they trust their financial institutions (FIs), according to “The Future Of Authentication In Financial...
In custody since July 2020, the former CEO of Wirecard Markus Braun was by formally charged by Munich public prosecutors with fraud, breach of trust and accounting manipulation following a criminal investigation into the German payments firm, according to multiple media reports on Monday (March...
