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.
Multi-Factor Approach Protects Banks From Fraudsters Seeking Vulnerabilities
Multi-Factor Approach Protects Banks From Fraudsters Seeking Vulnerabilities
September 12, 2023  |  Cybersecurity

Caitlin Sinclair, director of proposition development, financial crime at GIACT, an LSEG business, noted in an interview that banks’ customers (consumers and enterprises) are prime...

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MGM Resorts Sees Outages Across Properties Due to Cybersecurity Issue
MGM Resorts Sees Outages Across Properties Due to Cybersecurity Issue
September 11, 2023  |  Cybersecurity

Hotel and gaming company MGM Resorts is grappling with a cybersecurity issue that has caused an outage across its properties. “Our investigation is ongoing, and...

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Report: Hackers Steal Over $691,000 in Phishing Attack on Social Media
Report: Hackers Steal Over $691,000 in Phishing Attack on Social Media
September 11, 2023  |  Security & Fraud

Hackers reportedly gained control of the X, formerly Twitter, account of Ethereum founder Vitalik Buterin and stole more than $691,000 from unsuspecting victims. The attack...

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Bankman-Fried Lawyers Press for Better Jailhouse Internet Access
Bankman-Fried Lawyers Press for Better Jailhouse Internet Access
September 10, 2023  |  Legal

The war over Sam Bankman-Fried’s jailhouse internet access continues. Attorneys for the accused cryptocurrency fraudster said in a memo to the court Friday (Sept. 8)...

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This Week in AI: Deepfakes, Vertical Horizons and Smarter Assistance 
This Week in AI: Deepfakes, Vertical Horizons and Smarter Assistance 
September 08, 2023  |  artificial intelligence

Is it Moore’s Law, or more’s law?  Anyone keeping an eye on the generative artificial intelligence (AI) landscape could be forgiven for confusing the two. ...

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Unmasking Digital Imposters Is Rising Priority for Industrial Economy
Unmasking Digital Imposters Is Rising Priority for Industrial Economy
September 08, 2023  |  Security & Fraud

Fraud moves fast, particularly within industries that have historically moved slowly. As legacy sectors like shipping, transportation and logistics begin to trade in the phones...

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Visa Says Ransomware Attacks Reach Record-Breaking Numbers
Visa Says Ransomware Attacks Reach Record-Breaking Numbers
September 07, 2023  |  Fraud Attack

Ransomware attacks reached record-breaking numbers in March 2023, with a 91% increase compared to the previous month, according to Visa. Compared to the same period in...

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PYMNTS Intelligence: Countering Rising Fraud Threats to CUs
PYMNTS Intelligence: Countering Rising Fraud Threats to CUs
September 07, 2023  |  Digital Banking

Fraud attacks against banks and credit unions (CUs) are nothing new, but consumers are taking them much more seriously than they used to. A study...

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Amazon Sues Alleged Counterfeiters in ‘Hidden Links’ Scheme
Amazon Sues Alleged Counterfeiters in ‘Hidden Links’ Scheme
September 06, 2023  |  Security & Fraud

Amazon has accused a pair of social media influencers of promoting counterfeit goods. In a lawsuit filed Wednesday (Sept. 6), the eCommerce giant accuses Kamryn Russell,...

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