fraud

Fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law, a criminal law, or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong.

Authorized Push Payment Fraud Challenges CFPB’s Open Banking Stance
Authorized Push Payment Fraud Challenges CFPB’s Open Banking Stance
May 30, 2022  |  Regulation

Despite the absence of specific legislation mandating the use of open banking in the U.S., this practice is growing across the country. Open banking —...

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Fraud Played ‘Significant’ Role in $163B Leak from Pandemic-Era Unemployment System
Fraud Played ‘Significant’ Role in $163B Leak from Pandemic-Era Unemployment System
May 27, 2022  |  Security & Fraud

Fraudsters bilked about $163 billion from the unemployment system during the COVID-19 pandemic, according to the semiannual report to Congress by the Office of Inspector...

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PYMNTS AM Radar: Inflation Side Effects; Downside of Fighting Fraud; Modernizing Spend Management; ICYMI
PYMNTS AM Radar: Inflation Side Effects; Downside of Fighting Fraud; Modernizing Spend Management; ICYMI
May 27, 2022  |  Consumer Payments

It’s Friday, May 27, this year’s kick-off to summer beach days, backyard barbecues and vacation plans. It’s also the start of the three-day weekend that...

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Fixing Retail’s $600 Billion False Declines Problem When Fighting Fraud
Fixing Retail’s $600 Billion False Declines Problem When Fighting Fraud
May 27, 2022  |  Security & Fraud

Fighting fraud and pushing back cybercriminals has become the central focus of cybersecurity – and for very good reason. Cybercriminals have proven themselves to be...

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Scammers Used Twitter’s Crypto Community to Steal Information
Scammers Used Twitter’s Crypto Community to Steal Information
May 26, 2022  |  Security & Fraud

Scammers are hijacking Twitter accounts to promote questionable cryptocurrency platforms that let them compromise their victim’s information. Get the Full Story Complete the form to...

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Seth Green’s Kidnapped Bored Ape Shows NFTs’ Growing Commercialization
Seth Green’s Kidnapped Bored Ape Shows NFTs’ Growing Commercialization
May 25, 2022  |  NFTs

Actor Seth Green’s plans to turn his Bored Ape NFT into a TV show have apparently crashed and burned just weeks before its launch after...

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CFPB Calls on States To Expand Enforcement Efforts
CFPB Calls on States To Expand Enforcement Efforts
May 24, 2022  |  CFPB

The Consumer Financial Protection Bureau (CFPB) issued on Thursday, May 19 a new interpretative rule seeking to bolster the states’ enforcement actions to protect consumers....

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FinTechs Get Zero-Fraud Guarantee for Inbound Digital Transfers
FinTechs Get Zero-Fraud Guarantee for Inbound Digital Transfers
May 24, 2022  |  Security & Fraud

Long live the digital transformation — given that it’s secure. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...

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CFPB, NY AG Shutter ‘Deceptive’ Debt Collection Shops
CFPB, NY AG Shutter ‘Deceptive’ Debt Collection Shops
May 23, 2022  |  Legal

The federal Consumer Financial Protection Bureau (CFPB) and the New York state attorney general filed a proposed judgment in federal court to settle its case against...

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