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.

Wirecard Exec Who Ran Unit At Heart Of Scandal In Custody In Munich
Wirecard Exec Who Ran Unit At Heart Of Scandal In Custody In Munich
July 06, 2020  |  Security & Fraud

Wirecard executive Oliver Bellenhaus, 46, has been arrested in Munich for his alleged central role in the massive worldwide fraud case currently enveloping the company,...

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Probe Claims Luckin Coffee Chair May Have Known Of Discrepancies
Probe Claims Luckin Coffee Chair May Have Known Of Discrepancies
July 06, 2020  |  Security & Fraud

The head of Luckin Coffee Inc. knew or should have known about the accounting misconduct at the Beijing-based java chain, The Wall Street Journal reported. Get the...

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Bitcoin Daily: SEC Warns Consumers Of Crypto-Trading Scams; Hamilton FinTech Launches Jefferson Stablecoin
Bitcoin Daily: SEC Warns Consumers Of Crypto-Trading Scams; Hamilton FinTech Launches Jefferson Stablecoin
July 06, 2020  |  Bitcoin

To commemorate the Fourth of July holiday, Hamilton Fintech has launched the Jefferson Coin (JEF), according to a press release, a new stablecoin backed by...

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Audit: Wirecard Payments, Issuing Businesses Have Been Bleeding Cash For Years
Audit: Wirecard Payments, Issuing Businesses Have Been Bleeding Cash For Years
July 05, 2020  |  Security & Fraud

As details about the failed management of Wirecard AG unfold, it becomes clear that the company’s core business has been losing cash for years, the...

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How FIs Adapt Fraud Detection During Times Of Behavioral Upheaval
How FIs Adapt Fraud Detection During Times Of Behavioral Upheaval
July 03, 2020  |  Next-Gen Debit

The shuttering and reopening of states' economies are causing seismic shifts in consumer behaviors. Tried and tested ways of catching fraudsters, such as comparing consumers'...

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Audit Standards On Hot Seat In Wake Of Wirecard Scandal
Audit Standards On Hot Seat In Wake Of Wirecard Scandal
July 02, 2020  |  Security & Fraud

The former chair of the London Stock Exchange is calling for a thorough overhaul of audit standards in the wake of the $2.1 billion Wirecard...

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Wirecard Saga Reignites Debate Over Auditors’ Role In Combatting Fraud
Wirecard Saga Reignites Debate Over Auditors’ Role In Combatting Fraud
July 02, 2020  |  B2B Payments

As the fallout from Wirecard‘s $2 billion accounting scandal continues, some attention has turned to the Germany-based payment company’s auditor, Ernst & Young (EY). Get...

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How The Pandemic Makes 90-Day Customer Histories A Fraud-Fighting Weakness
How The Pandemic Makes 90-Day Customer Histories A Fraud-Fighting Weakness
July 02, 2020  |  Next-Gen Debit

Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

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Why Fighting Fraud Means Looking Beyond The Transaction
Why Fighting Fraud Means Looking Beyond The Transaction
July 02, 2020  |  Fraud Prevention

Consumers’ commerce patterns have been very much upended in the past few months and shifted heavily to digital. Get the Full Story Complete the form...

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