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.

Deep Dive: Reducing The Security Risks Of Open Banking
Deep Dive: Reducing The Security Risks Of Open Banking
June 29, 2020  |  Fraud Prevention

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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Wirecard, Enron And Warning Signs Across Two Decades
Wirecard, Enron And Warning Signs Across Two Decades
June 29, 2020  |  Security & Fraud

Author George Santayana famously wrote: “Those who cannot remember the past are condemned to repeat it.” And Mark Twain once wrote: “History doesn’t repeat itself,...

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EY Accused Of Missing Alleged Wirecard Fraud
EY Accused Of Missing Alleged Wirecard Fraud
June 28, 2020  |  Security & Fraud

In the ongoing scandal of Wirecard, under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to...

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Leader Of Russian Cybercrime Ring Pleads Guilty
Leader Of Russian Cybercrime Ring Pleads Guilty
June 28, 2020  |  Security & Fraud

One of the leaders of Infraud Organization, the international cybercrime network, has pleaded guilty to conspiracy, according to the U.S. Department of Justice. Get the...

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UK Watchdog Freezes Wirecard’s Funds During Probe
UK Watchdog Freezes Wirecard’s Funds During Probe
June 26, 2020  |  Security & Fraud

The United Kingdom’s financial watchdog agency has ordered Britain’s Wirecard subsidiary to freeze the German payment company’s funds as regulators determine the next steps, The Wall...

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Investec On Building Consumer Trust In Open Banking Systems
Investec On Building Consumer Trust In Open Banking Systems
June 26, 2020  |  Fraud Prevention

More than 10,000 financial institutions (FIs) are currently participating in open banking initiatives worldwide. But as it turns out, approximately 49 percent of banking customers...

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European Union To Investigate German Regulator Over Wirecard
European Union To Investigate German Regulator Over Wirecard
June 26, 2020  |  Security & Fraud

The Wirecard scandal surrounding the German payment processor missing $2.1 billion has spilled over the border to Belgium. Get the Full Story Complete the form...

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EY Says Wirecard Gave False Statements During 2019 Audit
EY Says Wirecard Gave False Statements During 2019 Audit
June 26, 2020  |  Security & Fraud

According to auditor Ernst & Young (EY), German payment processor Wirecard knowingly gave false statements and was in the midst of “elaborate and sophisticated fraud...

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Bitcoin Daily: Telegram Consents To $18.5M SEC Penalty; ‘AML Bitcoin’ Founder Charged With Money Laundering
Bitcoin Daily: Telegram Consents To $18.5M SEC Penalty; ‘AML Bitcoin’ Founder Charged With Money Laundering
June 25, 2020  |  Bitcoin

Telegram consented to a $18.5 million penalty in a U.S. Securities and Exchange Commission (SEC) settlement over an unsuccessful token offering, CoinDesk reported. Get the...

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