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.

Combining Old and Newer Technologies Helps Banks Fight Rising Fraud
Combining Old and Newer Technologies Helps Banks Fight Rising Fraud
October 09, 2023  |  Fraud Prevention

Fraud has surged at an unsettling pace in recent years, with young consumers and financially strained individuals being disproportionately targeted by bad actors. This is...

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DOJ: Bankman-Fried Can’t Use Anthropic Fundraising in Defense
DOJ: Bankman-Fried Can’t Use Anthropic Fundraising in Defense
October 09, 2023  |  Legal

When it collapsed, FTX had a $500 million stake in artificial intelligence (AI) firm Anthropic. Now, prosecutors want to keep FTX founder Sam Bankman-Fried from using the funds...

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This Week in AI: Deepfakes, Devices and Data Developments
This Week in AI: Deepfakes, Devices and Data Developments
October 06, 2023  |  Artificial Intelligence

It is almost generative artificial intelligence’s first birthday. Next month, it will have been a full calendar year since OpenAI first launched its ChatGPT product...

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FTC Says Social Media Most Common Contact Method for Scams
FTC Says Social Media Most Common Contact Method for Scams
October 06, 2023  |  Security & Fraud

Reported losses from scams originating on social media have reached $2.7 billion since 2021. That total has surpassed the losses associated with any other contact method, the Federal...

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Lawmakers Raise Concerns Over Social Media’s Deepfake Problem
Lawmakers Raise Concerns Over Social Media’s Deepfake Problem
October 05, 2023  |  Security & Fraud

Generative artificial intelligence (AI) can digitally create nearly everything and anything. And that is becoming a problem. One of the world’s most popular YouTubers, MrBeast,...

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Jury Selection Completed in Sam Bankman-Fried Trial
Jury Selection Completed in Sam Bankman-Fried Trial
October 04, 2023  |  Legal

Jury selection has been completed in the criminal fraud trial of Sam Bankman-Fried, the co-founder of FTX cryptocurrency exchange.  The trial, which began Tuesday (Oct....

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Banks Need to Be on the Cutting Edge of AI’s Double-Edged Fraud Sword
Banks Need to Be on the Cutting Edge of AI’s Double-Edged Fraud Sword
October 04, 2023  |  Artificial Intelligence

The greatest innovations are those that democratize access to new skills and empower populations. Generative artificial intelligence (AI) promises to be one of those innovations....

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Bankman-Fried’s Defense Seeks to Block Prosecutors From Calling FTX Witnesses
Bankman-Fried’s Defense Seeks to Block Prosecutors From Calling FTX Witnesses
October 03, 2023  |  Legal

The criminal trial of FTX founder Sam Bankman-Fried started Tuesday (Oct. 3). Things kicked off at 9:30 a.m. at a Lower Manhattan federal court with...

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Form3: AI and Risk Scoring Help Stop Push Payment Fraud ‘in Its Tracks’
Form3: AI and Risk Scoring Help Stop Push Payment Fraud ‘in Its Tracks’
October 03, 2023  |  Security & Fraud

With the Sibos 2023 financial services conference in the rearview mirror, central bank digital currencies (CBDCs) and blockchain in active discussion, and the FedNow® Service...

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