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.

UK Finance: 61% of Push Payments Fraud Tied to Meta
UK Finance: 61% of Push Payments Fraud Tied to Meta
July 09, 2023  |  Security & Fraud

British lobbying group UK Finance has reportedly tied a bulk of the country’s digital payments fraud to Meta Platforms. As the Financial Times reported Sunday (July 9) —...

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Senators Call for New Rules to Combat AI-Powered Scams
Senators Call for New Rules to Combat AI-Powered Scams
July 07, 2023  |  Fraud Prevention

Senators have called on regulators to protect consumers from artificial intelligence (AI)-powered scams. In a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra,...

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Former FTX Lawyer Sued for ‘Wide-Ranging Con Game’
Former FTX Lawyer Sued for ‘Wide-Ranging Con Game’
July 06, 2023  |  Cryptocurrency

FTX’s former chief regulatory officer has found himself involved in the failed cryptocurrency firm’s legal quagmire. Daniel Friedberg has been sued by the new management of FTX and...

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Mastercard Uses AI to Spot Real-Time Payments Fraud for UK Banks
Mastercard Uses AI to Spot Real-Time Payments Fraud for UK Banks
July 06, 2023  |  Fraud Prevention

Mastercard has teamed with nine British banks to fight fraud via artificial intelligence (AI). Now live in the U.K., the company’s consumer fraud risk solution uses...

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Meta Platforms and nsKnox Partner on B2B Payment Security
Meta Platforms and nsKnox Partner on B2B Payment Security
July 05, 2023  |  B2B Payments

Meta Platforms has selected nsKnox to ensure B2B payment security. nsKnox, a provider of global bank account validation and B2B payment security, and its PaymentKnox for Accounts Payable (AP)...

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ComplyAdvantage and FullCircl Team to Boost AML Services
ComplyAdvantage and FullCircl Team to Boost AML Services
July 03, 2023  |  Partnerships

ComplyAdvantage has teamed with FullCircl to offer a new onboarding/customer lifecycle management solution. The partnership, announced in a news release Monday (July 3), offers customers a suite of know...

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Pay.UK Launches Pilot of Payments Industry Collaboration to Fight Fraud
Pay.UK Launches Pilot of Payments Industry Collaboration to Fight Fraud
June 28, 2023  |  Fraud Prevention

Pay.UK has announced it is piloting a new payments industry collaboration to help fight fraud. As the operator and standards body for the United Kingdom’s...

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EU Proposes PSD2 Revamp for ‘Digital Age’
EU Proposes PSD2 Revamp for ‘Digital Age’
June 28, 2023  |  Regulation

In Europe, the Payments Services Directive is getting a makeover. To that end, as announced on Wednesday (June 28), the European Commission has proposed a...

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Synthetic Fraud Rises at ‘Alarming’ Rate as AI Evolves
Synthetic Fraud Rises at ‘Alarming’ Rate as AI Evolves
June 28, 2023  |  Security & Fraud

Can one stolen ID, augmented with artificial intelligence, yield $2 million in pilfered government benefits? It’s a scenario Haywood Talcove, chief executive of LexisNexis Risk...

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