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.

Bottomline and Pay.UK Team on Fraud Prevention
Bottomline and Pay.UK Team on Fraud Prevention
July 17, 2023  |  Security & Fraud

Payments FinTech Bottomline has teamed with Pay.UK to help companies prevent fraud. The collaboration, announced Monday (July 17), sees Pay.UK — the recognized standards body...

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Australia’s NAB Bars Payments to ‘High Risk’ Crypto Exchanges
Australia’s NAB Bars Payments to ‘High Risk’ Crypto Exchanges
July 17, 2023  |  Banking

National Australia Bank is blocking some cryptocurrency payments amid a nationwide wave of crypto scams. The bank (NAB) on Monday (July 17) announced it was introducing new customer...

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Celsius Founder Facing Fraud Charges and 3 Regulatory Lawsuits
Celsius Founder Facing Fraud Charges and 3 Regulatory Lawsuits
July 13, 2023  |  Cryptocurrency

The ex-CEO of Celsius is facing federal fraud charges as the government’s crackdown on the cryptocurrency sector continues. In addition to the charges filed Thursday (July 13)...

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PYMNTS Intelligence: Why FinTechs Are Leaning Into AI to Fight Changing Fraud Threats
PYMNTS Intelligence: Why FinTechs Are Leaning Into AI to Fight Changing Fraud Threats
July 13, 2023  |  Fraud Prevention

As financial fraud evolves in the digital age, the picture that emerges is a complex one. On one hand, fraud in 2022 was at its...

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Former Chief Growth Officer of Frank Indicted for Fraud
Former Chief Growth Officer of Frank Indicted for Fraud
July 12, 2023  |  Security & Fraud

Federal prosecutors have filed charges against a second former executive of college financial-planning startup Frank. They have indicted Olivier Amar, former chief growth officer of...

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UK Supreme Court Rules Customers Liable for Fraud Through Bank Accounts
UK Supreme Court Rules Customers Liable for Fraud Through Bank Accounts
July 12, 2023  |  Banking

The United Kingdom’s Supreme Court has reportedly ruled that customers are liable for fraud through their accounts when the bank carried out instructions expressly authorized...

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Threat of Deepfakes Drives Two-Thirds of FinTechs to Boost Fraud Budgets
Threat of Deepfakes Drives Two-Thirds of FinTechs to Boost Fraud Budgets
July 12, 2023  |  Fraud Prevention

For every new fraud scheme that pops up, dozens of FinTechs are responding to quash it. Yet despite their expertise in cutting-edge technology, FinTechs are...

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Why Whack-a-Mole Risk Prevention Won’t Work in Today’s Data Economy
Why Whack-a-Mole Risk Prevention Won’t Work in Today’s Data Economy
July 11, 2023  |  Fraud Prevention

When it comes to digital risk, the best defense is a good offense. That’s because while firms may be feeling whiplash regarding the hyper-rapid advances...

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Report: Revolut US Payments Flaw Leads to $20 Million Theft
Report: Revolut US Payments Flaw Leads to $20 Million Theft
July 09, 2023  |  Security & Fraud

A flaw in Revolut’s U.S. payment system reportedly let criminals steal more than $20 million. As the Financial Times (FT) reported Sunday (July 9), the thefts occurred over...

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