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.

Galileo Aims to Combat Fraud With Payment Risk Platform
Galileo Aims to Combat Fraud With Payment Risk Platform
October 19, 2023  |  Security & Fraud

Galileo Financial Technologies has unveiled its Payment Risk Platform to help combat fraud. The tool, announced Thursday (Oct. 19), is a “holistic fraud engine” offering real-time payment...

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Virtual Cards Accelerate AP Automation, Leaving Checks Behind
Virtual Cards Accelerate AP Automation, Leaving Checks Behind
October 19, 2023  |  Accounts Payable

Business-to-business (B2B) payments play a crucial role in the modern economy, with experts projecting a staggering $111 trillion in transactions between businesses by 2027. However,...

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NymCard Teams With ACI Worldwide to Fight Financial Fraud
NymCard Teams With ACI Worldwide to Fight Financial Fraud
October 19, 2023  |  Fraud Prevention

Middle East/North Africa-focused card issuer NymCard has teamed with ACI Worldwide to combat fraud. The partnership, announced late Wednesday (Oct. 18) sees NymCard enhancing its fraud platform with ACI Fraud Management...

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Lloyd’s of London: Payments System Cyberattack Could Cost $3 Trillion
Lloyd’s of London: Payments System Cyberattack Could Cost $3 Trillion
October 18, 2023  |  Cybersecurity

A report found that a major payment system cyberattack could cost $3 trillion. The report, “Illuminating cyber crime,” was published Wednesday (Oct. 18) by insurance...

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FTX Proposes Returning 90% of Customer Funds
FTX Proposes Returning 90% of Customer Funds
October 17, 2023  |  Cryptocurrency

FTX has proposed a settlement that gives creditors more than 90% of their funds. The proposal, announced late Tuesday (Oct. 16), is set to be filed with the...

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Banks Combine AI and Communication to Combat the Rising Threat of Payment Fraud
Banks Combine AI and Communication to Combat the Rising Threat of Payment Fraud
October 16, 2023  |  Security & Fraud

With the rise of digital transactions and online services, fraud has become an increasing concern for both consumers and businesses. In March 2023, for example,...

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Jack Henry Debuts Defense Against Money Laundering
Jack Henry Debuts Defense Against Money Laundering
October 16, 2023  |  AML

FinTech company Jack Henry has introduced a new tool to help banks combat fraud. The firm’s Financial Crimes Defender, announced Monday (Oct. 16), is a cloud-native, real-time fraud...

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Bankman-Fried Asks for Access to Medication in Ongoing Trial
Bankman-Fried Asks for Access to Medication in Ongoing Trial
October 16, 2023  |  Legal

Disgraced FTX CEO Sam Bankman-Fried pleaded for access to his long-release Adderall in a late-night plea to U.S. District Judge Lewis Kaplan Sunday, per a CNBC...

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Bankman-Fried Wants 2nd Crack at ‘Bad Legal Advice’ Defense
Bankman-Fried Wants 2nd Crack at ‘Bad Legal Advice’ Defense
October 10, 2023  |  Legal

Sam Bankman-Fried wants another shot at mounting a “bad legal counsel” defense. In a filing Monday (Oct. 9) evening, attorneys for the former FTX head have asked the court’s...

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