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.

FCC Takes on SIM Swapping With More Stringent ID Security Recommendations
FCC Takes on SIM Swapping With More Stringent ID Security Recommendations
October 10, 2021  |  Security & Fraud

The Federal Communications Commission (FCC) is taking action to put a stop to SIM swapping, a form of fraud in which bad actors can take...

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First Pandemic Loan Scammer Sent To Federal Prison After Faking Suicide
First Pandemic Loan Scammer Sent To Federal Prison After Faking Suicide
October 08, 2021  |  Security & Fraud

A Massachusetts man was remanded to federal prison after being charged with fraudulently obtaining Pandemic Paycheck Protection (PPP) loans in the amount of $543,000 and...

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Citigroup Claims $11B Lex Foundation Lawsuit Is Fraudulent
Citigroup Claims $11B Lex Foundation Lawsuit Is Fraudulent
October 08, 2021  |  Legal

Citigroup says the $11 billion lawsuit from a mysterious money manager is the work of a “fantasist” trying to extort the bank. Get the Full...

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IBM, MonetaGo Team Up to Tackle Trade Finance Fraud
IBM, MonetaGo Team Up to Tackle Trade Finance Fraud
October 06, 2021  |  B2B Payments

IBM is partnering with FinTech startup MonetaGo to tackle trade finance fraud, and it will set its sights first on Southeast Asia, according to a...

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As Digital Business Payments Become the Norm, New Use Cases Emerge
As Digital Business Payments Become the Norm, New Use Cases Emerge
October 06, 2021  |  Payment Methods

Whether it’s a finance team separated from the physical office mail and corporate checkbook, or legions of remote workers seeking purchase authorizations or expense reimbursements,...

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Robot vs. Robot: PayPal Taps AI/ML in Battle Against Fraudsters, Chargebacks and Passwords
Robot vs. Robot: PayPal Taps AI/ML in Battle Against Fraudsters, Chargebacks and Passwords
October 05, 2021  |  Security & Fraud

Artificial intelligence (AI) and machine learning (ML) are helping merchants and online platforms get smarter about detecting risk. Get the Full Story Complete the form...

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Challenger Bank Monzo Abandons US Banking License Application
Challenger Bank Monzo Abandons US Banking License Application
October 04, 2021  |  Digital-First Banking

London-based FinTech company Monzo has pulled back its application for a U.S. banking license, according to a Monday (Oct. 4) report from CNBC. Get the...

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Deep Dive: How Banks and Payments Providers Can Protect Customers, Merchants From Fraud Threats
Deep Dive: How Banks and Payments Providers Can Protect Customers, Merchants From Fraud Threats
October 04, 2021  |  Authentication

Customers flocked to online channels to access the goods and services they needed during pandemic closures, and research shows they have no plans to change...

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Barclays Hit in Phishing Scam Using Monzo Account, PISP
Barclays Hit in Phishing Scam Using Monzo Account, PISP
October 03, 2021  |  Security & Fraud

Millions of pounds were swiped from Barclays accounts in a phishing scam by a fraudster using a Monzo account and a payments initiation service provider...

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