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.

Investec: What FIs Must Know About Open Banking And Gaining Consumer Trust

Investec: What FIs Must Know About Open Banking And Gaining Consumer Trust
Investec: What FIs Must Know About Open Banking And Gaining Consumer Trust
June 25, 2020  |  Fraud Prevention

Digital fraud and cybercrime are constant worries for financial institutions (FIs) of all sizes, with these businesses seeing an average of 30 cyberattacks per hour...

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Philippines Opens Probe Into Wirecard’s Missing Cash
Philippines Opens Probe Into Wirecard’s Missing Cash
June 24, 2020  |  Cybersecurity

The Philippines has launched an investigation into the missing $2.1 billion that Wirecard said it deposited in two of the island nation’s banks, Reuters reported....

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Creating An ‘Anchor Of Trust’ In The Battle Against CNP Fraud
Creating An ‘Anchor Of Trust’ In The Battle Against CNP Fraud
June 24, 2020  |  Cybersecurity

As the world must go increasingly digital — perhaps permanently — people who had resisted the great shift to eCommerce have had to make the...

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DOJ Alleges Man Faked 120 Employees To Get $3M PPP Loan
DOJ Alleges Man Faked 120 Employees To Get $3M PPP Loan
June 23, 2020  |  Cybersecurity

A 44-year-old Texas man, Fahad Shah, was charged with fraud for allegedly attempting to file fake loan applications for the Paycheck Protection Program (PPP), according...

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German Finance Minister Calls For Regulatory Reform Amid Wirecard Scandal
German Finance Minister Calls For Regulatory Reform Amid Wirecard Scandal
June 23, 2020  |  Legal & Regulation

Hours after Wirecard AG’s former CEO was arrested, German Finance Minister Olaf Scholz said lawmakers must tighten regulations because the payment services company has embarrassed...

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Fed Tackles Fraud On Legacy Rails As New Infrastructure Gains Traction
Fed Tackles Fraud On Legacy Rails As New Infrastructure Gains Traction
June 23, 2020  |  B2B Payments

New payments infrastructure continues to gain traction with financial service providers looking to modernize their services for business clients. Get the Full Story Complete the...

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Consumers Duped By ‘Risk-Free Trials’ To Get $8.7M In Refunds From FTC
Consumers Duped By ‘Risk-Free Trials’ To Get $8.7M In Refunds From FTC
June 22, 2020  |  Cybersecurity

The Federal Trade Commission (FTC) is sending out over $8.7 million in refunds to 187,425 customers who were reportedly signed up for non-consensual payment plans...

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Cognizant Corporate Cards Targeted In Cyberattack
Cognizant Corporate Cards Targeted In Cyberattack
June 22, 2020  |  B2B Payments

A cyberattack from Maze ransomware against global business and tech firm Cognizant mostly hit the company’s corporate cards that had been issued to employees, the...

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