Federal prosecutors in New York announced Thursday (Feb. 4) in a press release the indictment of three people linked to private equity firm GPB Capital Holdings on charges including securities fraud, wire fraud and conspiracy. Get the Full Story Complete the form to unlock this...
The Federal Trade Commission (FTC) received more than 2.1 million fraud reports from consumers in 2020, according to new data released by the agency on Thursday (Feb. 4). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
For merchants who until 2020 were mostly conducting business in the physical world, online fraud wasn’t a top-of-mind concern. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
As mobile banking proliferates and digital-first initiatives become the hallmark of financial services, bringing FinTechs and banks together on the same page — literally — can save time and money as they develop new products and services. Get the Full Story Complete the form to...
The Financial Crimes Enforcement Center (FinCEN) has issued an advisory against new scams involving healthcare or health insurance during the pandemic. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
The COVID-19 pandemic and the development of vaccines to combat the coronavirus have triggered an increase in cyberattacks on hospitals and healthcare agencies — and warnings about the dangers from the federal government. Get the Full Story Complete the form to unlock this article and...
A Leesburg, Virginia, man pleaded guilty to a federal bank fraud charge that he stole $2.5 million by obtaining Paycheck Protection Program (PPP) loans by saying he needed the money for what turned out to be fake payroll for fake employees at two real companies,...
Synthetic identity fraud has been called one of the fastest-growing financial crimes in the U.S., costing financial institutions (FIs) north of $6 billion a year. By way of background, synthetic identities are most commonly created by combining real information, such as a legitimate Social Security...
Sophisticated identity thieves from Russia and Nigeria are being blamed for a spate of fraudulent unemployment claims that may have caused as much as $30 billion — or a quarter of California’s payouts — to go to fake accounts or unworthy recipients. Get the Full...
