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.

Secret Service Names Special Agent to Go After $100B Pilfered by Pandemic Fraudsters
Secret Service Names Special Agent to Go After $100B Pilfered by Pandemic Fraudsters
December 22, 2021  |  Security & Fraud

Close to $100 billion was pilfered from pandemic relief funds, and the U.S. Secret Service has assigned Assistant Special Agent in Charge (ASAIC) Roy Dotson...

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60% of the Acquirers Using AI Systems to Detect Fraud Consider It Their Most Important Anti-Fraud Tool
60% of the Acquirers Using AI Systems to Detect Fraud Consider It Their Most Important...
December 21, 2021  |  Artificial Intelligence

Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

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Busbud on Tapping Payments Orchestration for a Flexible Future
Busbud on Tapping Payments Orchestration for a Flexible Future
December 20, 2021  |  Payments Innovation

Consumers want a single point of contact to manage their travel experiences; travel operators want a single point of contact to manage all of the...

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Four Executives Sentenced in SBA Fraud Case
Four Executives Sentenced in SBA Fraud Case
December 17, 2021  |  Security & Fraud

Four Indiana executives once associated with the now-defunct Banc-Serv Partners LLC were sentenced to prison in federal court this week. The government alleged that all...

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Ex-Olympian Allison Baver Accused of $10M in PPP Fraud
Ex-Olympian Allison Baver Accused of $10M in PPP Fraud
December 17, 2021  |  Security & Fraud

Federal prosecutors say that a former Olympic speed skater fraudulently obtained $10 million in COVID relief funds, using some of that money to finance a...

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‘Failings’ in HSBC Bank’s AML System Lead to $84M Fine
‘Failings’ in HSBC Bank’s AML System Lead to $84M Fine
December 17, 2021  |  Regulation

The U.K.’s Financial Conduct Authority (FCA) has fined HSBC Bank £63,946,800 ($84.7 million) for “failings” in its anti-money laundering (AML) system. Get the Full Story...

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Visa Reports EMV® 3DS Delivers 35% Less Fraud, More Approvals, Superior Shopping Experience
Visa Reports EMV® 3DS Delivers 35% Less Fraud, More Approvals, Superior Shopping Experience
December 16, 2021  |  Security & Fraud

When consumers rushed into online shopping at the beginning of the pandemic, fraudsters were not far behind. In particular, the accelerated growth of eCommerce and...

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2021 Crypto Scams Top $7.7B, Fueled by DeFi-Friendly ‘Rug Pulls’
2021 Crypto Scams Top $7.7B, Fueled by DeFi-Friendly ‘Rug Pulls’
December 16, 2021  |  Cryptocurrency

When South Africa-based cryptocurrency exchange Luno discovered that many of its clients were being targeted by a project that promised investors returns so large that...

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Ex-McKinsey Partner Pleads Guilty to GreenSky Insider Trading Charges
Ex-McKinsey Partner Pleads Guilty to GreenSky Insider Trading Charges
December 15, 2021  |  Security & Fraud

Ex-McKinsey partner Puneet Dikshit, 40, has pled guilty to securities fraud, CNBC writes.  Get the Full Story Complete the form to unlock this article and...

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