News with the tag "financial fraud"

California resident Ken Liem has accused three banks of failing to perform adequate checks that could have blocked the scammers from opening accounts in the first place.

FSB explores AI’s potential to revolutionize finance while spotlighting risks like fraud, data governance, and systemic vulnerabilities.

This was the first case against JPEX, which operated in Hong Kong without a license.

A man from Athens, Alabama, was arrested Thursday for his role in the January 2024 hack of the U.S. Securities and Exchange Commission’s X account. The hack led to a false announcement regarding bitcoin exchange-traded funds (ETFs), temporarily causing bitcoin prices to rise by $1,000. SEC X Account...

The Digital Chamber has announced its support for a bipartisan bill led by Rep. Zachary Nunn to combat financial fraud, particularly pig butchering scams. The bill seeks to provide law enforcement with the resources needed to tackle these crimes, including the use of blockchain technology to track i...

The Australian Federal Police revealed that scammers are using deepfakes and pig butchering as their primary methods to defraud victims.

The SEC has accused the two brothers of using investor money to fund lavish lifestyles, including the purchase of cars and a multimillion-dollar condominium.

The authorities continue to urge the public to remain cautious and verify the legitimacy of financial transactions to avoid falling victim to such elaborate scams.

Rashawn Russell, a former Deutsche Bank executive, also intended to commit fraud with stolen bank cards.

A new report by Signicat, the European digital identity and fraud prevention solutions provider, reveals that artificial intelligence (AI) is used in over a third of fraud attempts targeting financial institutions, with one in fifteen fraud attempts now using deepfakes. The study, titled “The Battle...