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.

WorkFusion Unveils AI-Powered Transaction Monitoring Investigator
WorkFusion Unveils AI-Powered Transaction Monitoring Investigator
October 02, 2023  |  AML

WorkFusion has unveiled a new AI Transaction Monitoring Investigator designed to automate the review of first-level (L1) transaction monitoring alerts.  The new artificial intelligence (AI)...

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LVMH CEO Bernard Arnault Calls Money Laundering Reports ‘Absurd’
LVMH CEO Bernard Arnault Calls Money Laundering Reports ‘Absurd’
October 02, 2023  |  Retail

The CEO of luxury conglomerate LVMH reportedly dismissed money laundering allegations against him. The Paris prosecutor’s office said it is undertaking a preliminary investigation into...

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Bankman-Fried’s Friends May Be Key to Criminal Trial
Bankman-Fried’s Friends May Be Key to Criminal Trial
October 02, 2023  |  Legal

While the U.S. Department of Justice (DOJ) has precluded the testimony of all of accused crypto fraudster Sam Bankman-Fried’s seven witnesses in his imminent trial,...

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Report: Bankman-Fried’s Alleged Victims Still Believe in Crypto
Report: Bankman-Fried’s Alleged Victims Still Believe in Crypto
October 02, 2023  |  Cryptocurrency

Despite losing millions when FTX collapsed, some investors still believe in the promise of cryptocurrency. As CNBC reported Monday (Oct. 2) — in advance of a documentary on the...

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Visa Teams With Expel to Tackle $10.5 Trillion Cybercrime Threat
Visa Teams With Expel to Tackle $10.5 Trillion Cybercrime Threat
October 02, 2023  |  Security & Fraud

Visa has teamed with security firm Expel to help customers guard themselves against cybercrime. The partnership, announced Monday (Oct. 2), is aimed at helping businesses address the rising...

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FTC Strengthens Cooperation With Latin American Partners to Fight Fraud
FTC Strengthens Cooperation With Latin American Partners to Fight Fraud
September 29, 2023  |  Fraud Prevention

The Federal Trade Commission (FTC) has partnered with consumer protection authorities from four Latin American countries — Chile, Colombia, Mexico and Peru — to combat cross-border fraud....

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Coinbase CEO Criticizes Chase UK Ban on Crypto Transactions
Coinbase CEO Criticizes Chase UK Ban on Crypto Transactions
September 29, 2023  |  Cryptocurrency

Coinbase CEO Brian Armstrong has reportedly criticized J.P. Morgan Chase’s decision to block crypto-related transactions in its U.K. digital banking subsidiary, Chase UK. Armstrong said that private companies should not...

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Bankman-Fried Trades Cargo Shorts for Trousers as Trial Looms
Bankman-Fried Trades Cargo Shorts for Trousers as Trial Looms
September 29, 2023  |  Legal

The biggest white collar trial of the past 15 years starts next Tuesday (Oct. 3). And the defendant, Sam Bankman-Fried — the famously frumpled co-founder...

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Environmental and Fraud Concerns Could Kill Plastic Gift Cards
Environmental and Fraud Concerns Could Kill Plastic Gift Cards
September 28, 2023  |  Gift Cards

A ban on cards may be in the cards. Perhaps literally — at least for the plastic version of gift cards. The twin pressures that...

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