Sections
wire fraud
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BitcoinBitcoin Daily: Teller Notches $1M For DeFi Credit Risk Protocol; Thailand’s Central Bank Experiments With CBDC; Crypto Trader Accused In $4.5M Fraud Case
Blockchain initiative Teller has notched $1 million in a Framework Ventures-led seed capital to create a decentralized finance (DeFi) credit risk tool,...
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Fraud PreventionInvestec: What FIs Must Know About Open Banking And Gaining Consumer Trust
Digital fraud and cybercrime are constant worries for financial institutions (FIs) of all sizes, with these businesses seeing an average of 30...
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Security & FraudDOJ Alleges Man Faked 120 Employees To Get $3M PPP Loan
A 44-year-old Texas man, Fahad Shah, was charged with fraud for allegedly attempting to file fake loan applications for the Paycheck Protection...
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Security & FraudEx-Microsoft Engineer Guilty Of Pilfering $10M In eCurrency
A former Microsoft engineer was found guilty of 18 federal felonies after he stole $10 million worth of digital currency from his...
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NewsToday In Payments: Intuit To Buy Credit Karma; JPMorgan To Open UK Digital Bank
In today’s top news, TurboTax creator Intuit is reportedly buying Credit Karma, and JPMorgan Chase is looking to open a digital bank...
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Security & FraudGIACT On Payments’ $29M Wire Fraud Wake-Up Call
Last week, the U.S. subsidiary of Japan’s largest financial media organization, Nikkei, made headlines for the reason that no firm ever wants:...
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B2B PaymentsFBI: BEC Scams Stole $1.2B In 2018
BEC scams are proving lucrative, according to recent FBI reports, which found that the bad guys’ haul doubled in 2018 over 2017. Separately,...
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Data DiveData Dive, Criminality Edition: Fingerprints And Wire Fraud And Money Laundering (Oh My!)
Not every innovation is a good innovation. Some, like the pet rock, are merely fads. Others, like the iPhone, are change-the-world impactful....
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LegalMichael Avenatti Arrested For Bank, Wire Fraud
Attorney Michael Avenatti has been charged in two federal cases with wire and bank fraud, as well as allegedly attempting to extort...
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LegalHuawei CFO Charged With Bank Fraud
U.S. prosecutors have filed criminal charges against China’s largest technology company, accusing it of stealing trade secrets and committing bank fraud. In...
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Security & FraudUS Charges Iranian Hackers For SamSam Cyberattack
The United States has indicted two Iranians for launching a major cyberattack using the ransomware “SamSam.” According to Reuters, the six-count indictment...
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B2B PaymentsInvoice Fraud Hits Microsoft?
Invoice fraud — changing details so that money is routed to fraudsters’ bank accounts — may have hit Microsoft through one of...
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LegalFraudsters Accused In $364M Ponzi Debt Scheme
Federal prosecutors have charged three men who allegedly ran a $364 million Ponzi scheme. According to Reuters, the men — Kevin Merrill...
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B2B PaymentsStandard Chartered Woes Extend To Expense Account Fraud
Standard Chartered’s ongoing investigation into various forms of misconduct has uncovered expense account fraud of an eye-popping nature. In the meantime, the...
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LegalState Street Corp. Ex-EVP Accused Of Wire Fraud
A former executive at State Street Corp. is set to stand trial for allegedly defrauding the bank’s clients by charging them secret...
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B2B PaymentsTreasurers Overconfident On Cyber Defenses
With a threefold increase in the number of corporates who had been hit by a ransomware attack in the last year compared...
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BitcoinCrypto Investors Fear In-Person Robberies
While there has been plenty to fear when it comes to hackers stealing virtual currencies from online investor accounts, reports of thieves...
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B2B PaymentsDoJ Charges Man With $100M Business Email Scam
The U.S. Department of Justice (DoJ) announced plans to charge a man allegedly responsible for a $100 million business email compromise scam....
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B2B PaymentsFBI Pinpoints ‘Ground Zero’ For Supplier Email Scams
The Federal Bureau of Investigation has been targeting the Business Email Compromise for years, warning companies to be aware of fake supplier emails and...
- B2B Payments
Amid High-Profile Cyberattacks, Don’t Forget The Basics
Cybercrime is often considered a high-tech activity. We envision computer-savvy criminals behind screens using algorithms and code to hack into a corporate...
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Security & FraudEx-State Street Execs Charged In Defrauding Scheme
The Justice Department said on Tuesday (April 5) that two executives of State Street, a Boston financial services firm — among the largest...
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InternationalHackers Target Corporate Email For Wire Transfer Fraud
The world’s enterprising cybercriminal population has found its newest weak link to exploit: corporate email systems. The new scam hotness entails getting small...
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NewsJustice Department May Hit General Motors With Wire-Fraud Charges
The U.S. Department of Justice may pursue criminal charges for wire fraud against General Motors, accusing the company of promoting deceptive or...
