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.

Hacking Group Clop Adds to Growing List of Victims
Hacking Group Clop Adds to Growing List of Victims
June 16, 2023  |  Security & Fraud

A hacking group known as Clop reportedly continues to steal sensitive data from companies around the world. The group — taking its name from the...

READ MORE >
One Billion Consumers at Risk of India’s COVID Vaccine Data Breach
One Billion Consumers at Risk of India’s COVID Vaccine Data Breach
June 12, 2023  |  Security & Fraud

India’s Ministry of Health and Family Welfare is investigating what it called baseless reports of a data breach of its COVID vaccine database. The ministry...

READ MORE >
Merchants Using In-House Systems Miss 10% of Family Fraud Instances
Merchants Using In-House Systems Miss 10% of Family Fraud Instances
June 12, 2023  |  Fraud Prevention

Fraud is often hard to identify and resolve, and expensive, especially for large merchants using in-house solutions where fraudulent transaction dispute losses can total as...

READ MORE >
Behavioral-Driven Fraud Is Having a Modern Day Renaissance
Behavioral-Driven Fraud Is Having a Modern Day Renaissance
June 09, 2023  |  Security & Fraud

Powered by technology like generative artificial intelligence (AI), behavioral-driven fraud is enjoying a modern renaissance. Whether through business email compromise (BEC) attacks or account takeover...

READ MORE >
60 Years on, Banks Say it’s Time to Leave Passwords and Embrace Biometrics
60 Years on, Banks Say it’s Time to Leave Passwords and Embrace Biometrics
June 09, 2023  |  Security & Fraud

Companies have had to ensure the validity of customers interacting with them — while also providing a frictionless experience — since the very dawn of...

READ MORE >
Commonwealth Bank of Australia Begins Restricting Payments to Crypto Exchanges
Commonwealth Bank of Australia Begins Restricting Payments to Crypto Exchanges
June 08, 2023  |  Cryptocurrency

Commonwealth Bank of Australia has started declining or holding for 24 hours certain payments to cryptocurrency exchanges. Within months, the bank will also begin limiting customer...

READ MORE >
Wirecard Trial Testimony: Ex-CEO Said Compliance Was ‘Crap’
Wirecard Trial Testimony: Ex-CEO Said Compliance Was ‘Crap’
June 07, 2023  |  Legal

Former Wirecard CEO Markus Braun was apparently not a big fan of compliance. During court testimony Wednesday (June 8), a panel of judges in Braun’s...

READ MORE >
FTC Returned $392 Million to Consumers After Law Enforcement Actions
FTC Returned $392 Million to Consumers After Law Enforcement Actions
June 06, 2023  |  Consumer Payments

The Federal Trade Commission (FTC) returned $392 million to consumers in 2022 after recovering the money in law enforcement actions. About $248 million of those refunds came from cases...

READ MORE >
Trulioo Expands ID Verification Platform’s AI-Powered Offerings
Trulioo Expands ID Verification Platform’s AI-Powered Offerings
June 06, 2023  |  Authentication

Trulioo has debuted expanded versions of its know your customer (KYC) and know your business (KYB) identity verification tools. The updates include expanded geographic coverage, “localization...

READ MORE >