bank fraud

Report: Regulators Issue Formal Orders to Wells Fargo to Enhance Monitoring
Report: Regulators Issue Formal Orders to Wells Fargo to Enhance Monitoring
November 16, 2023  |  Bank Regulation

Wells Fargo is reportedly grappling with regulatory obligations to enhance its monitoring of financial crime. Regulators have issued formal orders to Wells Fargo, instructing the bank...

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Australia’s NAB Bars Payments to ‘High Risk’ Crypto Exchanges
Australia’s NAB Bars Payments to ‘High Risk’ Crypto Exchanges
July 17, 2023  |  Banking

National Australia Bank is blocking some cryptocurrency payments amid a nationwide wave of crypto scams. The bank (NAB) on Monday (July 17) announced it was introducing new customer...

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Former Chief Growth Officer of Frank Indicted for Fraud
Former Chief Growth Officer of Frank Indicted for Fraud
July 12, 2023  |  Security & Fraud

Federal prosecutors have filed charges against a second former executive of college financial-planning startup Frank. They have indicted Olivier Amar, former chief growth officer of...

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FTC: Bank Impersonation Text Message Scams 20X More Common Since 2019
FTC: Bank Impersonation Text Message Scams 20X More Common Since 2019
June 08, 2023  |  Security & Fraud

Bank impersonation is the most-reported form of text message scam. This form of scam — which begins with a text message that is a fake...

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How Corporates Can Help Banks Fight Real-Time Payments Fraud
How Corporates Can Help Banks Fight Real-Time Payments Fraud
March 09, 2023  |  Security & Fraud

As instant payments become the norm, businesses can bolster safeguarding their hard-earned revenue.  While legacy habits such as paper checks persist, small businesses are catching up with...

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Surveillance Firm Hawk AI Raises $17M as Financial Crimes Grow
Surveillance Firm Hawk AI Raises $17M as Financial Crimes Grow
January 26, 2023  |  Security & Fraud

Hawk AI has raised $17 million to boost its fraud prevention and anti-money laundering efforts. The Munich company announced the Series B on Thursday (Jan. 26), saying...

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Chicago Grand Jury Charges 2 in ‘Remotely Created Checks’ Scheme 
Chicago Grand Jury Charges 2 in ‘Remotely Created Checks’ Scheme 
December 08, 2022  |  Security & Fraud

A federal grand jury has charged two operators of payment processing companies with bank fraud.  The grand jury in Chicago charged the two Illinois men...

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Fed FraudClassifier Offers Consistent View of Data Across Banks
Fed FraudClassifier Offers Consistent View of Data Across Banks
October 07, 2022  |  Security & Fraud

In financial services, you can’t fight the bad guys until you know what weapons they’re bringing to the battle. And how they’re mounting their attacks....

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NY Man Gets Jail Time For $390K Card Skimming Scheme
NY Man Gets Jail Time For $390K Card Skimming Scheme
January 09, 2020  |  Security & Fraud

A New York man, 39-year-old Bogdan Rusu, was sentenced to 60 months in prison on charges of using credit card skimming tactics to steal $390,141...

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