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.

Small Businesses See Instant Payments as Vital Cash Flow Boost
Small Businesses See Instant Payments as Vital Cash Flow Boost
December 18, 2023  |  Real-Time Payments

Enigma Technologies Co-founder and CEO Hicham Oudghiri said the ecosystem surrounding instant payments is complex. “When it comes to instant payments, everyone has their own...

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Fraudsters Cook Up Slicker Recipes as More Transactions Move Online
Fraudsters Cook Up Slicker Recipes as More Transactions Move Online
December 18, 2023  |  Fraud Attack

Financial fraud remains a persistent challenge across industries, and its threat is further sharpened by technological complexity and the growing sophistication of bad actors.  “Fraud...

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Meta Apologizes for Fraudulent Ads Featuring Billionaire Wissam Al Mana
Meta Apologizes for Fraudulent Ads Featuring Billionaire Wissam Al Mana
December 15, 2023  |  Meta

Qatari billionaire Wissam Al Mana reportedly emerged victorious in a legal battle against Meta over the unauthorized use of his image in cryptocurrency scam advertisements...

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This Week in AI: Healthcare GPTs, EU’s AI Act, the Future of Work
This Week in AI: Healthcare GPTs, EU’s AI Act, the Future of Work
December 15, 2023  |  Artificial Intelligence

The holidays are approaching, and generative artificial intelligence shows no sign of slowing down. A provisional deal on landmark European Union rules governing the use...

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DOJ Cracks Down on Use of ‘Microtransactions’ to Conceal Fraud
DOJ Cracks Down on Use of ‘Microtransactions’ to Conceal Fraud
December 15, 2023  |  Fraud Attack

The Department of Justice (DOJ) has announced a crackdown on fraud networks that steal money from consumer accounts and use fraudulent “microtransactions” to conceal their illicit activities...

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Crypto Wallet Firm Ledger Reports Security Breach 
Crypto Wallet Firm Ledger Reports Security Breach 
December 14, 2023  |  Cryptocurrency

Crypto wallet firm Ledger experienced a security breach on Thursday (Dec. 14) in which hackers managed to steal $484,000.  The hackers did so by inserting malicious code...

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Ex-Wirecard Finance Chief Charged With Fraud
Ex-Wirecard Finance Chief Charged With Fraud
December 14, 2023  |  Legal

More than three years after its collapse, Wirecard’s former finance chief has been accused of fraud. Burkhard Ley, who spent 11 years as the chief...

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Salv Raises $4.3 Million to Expand Financial Crime Compliance Solutions 
Salv Raises $4.3 Million to Expand Financial Crime Compliance Solutions 
December 14, 2023  |  Investments

Estonia-based Salv, a provider of financial crime compliance solutions, has raised 3.9 million euros ($4.29 million) in new funding to fuel its expansion in the United...

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Europe Plans Authority to Fight Money Laundering and Terror Financing
Europe Plans Authority to Fight Money Laundering and Terror Financing
December 13, 2023  |  AML

Officials in Europe are launching an authority to combat money laundering and terrorism financing. Known as ALMA, the group will have “direct and indirect supervisory powers over...

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