Federal authorities hope to recover $25 million in cryptocurrency connected to romance/investment scam investigations. The Justice Department (DOJ) announced Tuesday (July 21) it had filed complaints in federal court seeking forfeiture of more than $25 million in cryptocurrency recovered during separate fraud investigations conducted by...
A cybersecurity expert has been sentenced to prison for helping criminals scam his clients. Angelo Martino, 41, who had served as a ransomware negotiator for the company Digital Mint, was sentenced to 70 months in federal prison last week, according to an announcement from the...
Financial services giant Capital One is taking legal action against scammers committing impersonation fraud. But rather than accusing fraudsters of violating criminal law, the company says it is taking a different tactic in a federal lawsuit filed Wednesday (May 13): alleging that the scammers are guilty of infringing on...
eCommerce platforms like TikTok Shop are reportedly flooded with an uptick in AI-fueled scams. Fraudulent sellers are using generative AI tools to invent fake brands or dupe products to get users to pay for goods that don’t really exist, Nicolas Waldmann, who heads TikTok Shop’s...
March 10, 2025
The payments landscape is more sophisticated than ever, but so are fraudsters. With financial institutions (FIs) deploying artificial intelligence (AI), machine learning (ML) and other cutting-edge technologies to secure transactions, cybercriminals are increasingly finding that the easiest way in is through the weakest link: people. A new Fraud and Financial Crimes report from PYMNTS Intelligence reveals that, […]
March 06, 2025
Credit unions (CUs) have long prided themselves on being the “people’s bank” — local, personal and rooted in trust. But guess what? That makes them an even bigger target for...
March 05, 2025
Scams against banks and their customers have exploded. Fraudsters pull at human nature in a bid to gain access to accounts and drain them — pleading through texts, phone calls...
February 10, 2025
Scammers aren’t just throwing darts at a board anymore — they’re getting personal. A new Fraud and Financial Crimes report from PYMNTS Intelligence finds that today’s sophisticated fraudsters are now...
September 20, 2026
Decades-old payment technology is reportedly helping scammers steal hundreds of millions of dollars from the welfare system. It’s part of an operation led by Romanian organized crime groups in the U.S., who rely on magnetic stripe-based payment systems to carry out their thefts, The Wall Street Journal (WSJ) reported Sunday (Sept. 20). According to the […]
July 22, 2026
Federal authorities hope to recover $25 million in cryptocurrency connected to romance/investment scam investigations. The Justice Department (DOJ) announced Tuesday (July 21) it had filed complaints in federal court seeking...
July 12, 2026
A cybersecurity expert has been sentenced to prison for helping criminals scam his clients. Angelo Martino, 41, who had served as a ransomware negotiator for the company Digital Mint, was...
May 13, 2026
Financial services giant Capital One is taking legal action against scammers committing impersonation fraud. But rather than accusing fraudsters of violating criminal law, the company says it is taking a different tactic...
