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 Watchdog Warns Banks About Post Office Money Laundering
UK Watchdog Warns Banks About Post Office Money Laundering
April 24, 2023  |  Security & Fraud

The United Kingdom’s financial watchdog wants to stop money laundering through the Post Office, a retail company that provides products and services, including postage stamps...

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Justice Department Charges 18 in Sweeping COVID Fraud Action
Justice Department Charges 18 in Sweeping COVID Fraud Action
April 20, 2023  |  Security & Fraud

Federal officials have charged 18 people in a wide-ranging series of COVID fraud cases. The defendants are accused of taking part in a variety of...

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NICE Actimize Adds AI-Based Suspicious Activity Monitoring to AML Solutions
NICE Actimize Adds AI-Based Suspicious Activity Monitoring to AML Solutions
April 19, 2023  |  Security & Fraud

NICE Actimize has added Suspicious Activity Monitoring (SAM-10) to its Anti-Money Laundering (AML) solutions. The new SAM-10 features artificial intelligence (AI)-based AML transaction monitoring and...

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Sparkle COO Says Open Banking Builds Trust by Putting Consumers in Control of Their Data
Sparkle COO Says Open Banking Builds Trust by Putting Consumers in Control of Their Data
April 19, 2023  |  Digital Banking

After years of advocacy, open banking is now live in Nigeria, the first country in sub-Saharan Africa to adopt the regulation. The launch marks an...

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ACI Worldwide Promotes Fraud Protection Ahead of FedNow Launch
ACI Worldwide Promotes Fraud Protection Ahead of FedNow Launch
April 18, 2023  |  Fraud Prevention

Payments company ACI Worldwide has added its fraud protection service to its Real-Time Payments Cloud. The integration, announced Tuesday (April 18), is aimed at U.S....

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Visa: Compelling Evidence 3.0 Will Blunt ‘Friendly’ Fraud
Visa: Compelling Evidence 3.0 Will Blunt ‘Friendly’ Fraud
April 17, 2023  |  Security & Fraud

Transaction disputes are massing across digital channels. Mike Lemberger, head of risk for North America at Visa, told PYMNTS that friendly fraud, also known as...

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Organized Retail Crime Groups Focus on Everyday Consumer Goods
Organized Retail Crime Groups Focus on Everyday Consumer Goods
April 14, 2023  |  Retail

Everyday consumer goods are the primary target of organized retail crime (ORC) rings. Eighty-one percent of ORC groups focus on everyday consumer goods while only...

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JPMorgan Asks for Permission to Question Frank Founder About Transfers
JPMorgan Asks for Permission to Question Frank Founder About Transfers
April 13, 2023  |  Legal

JPMorgan Chase wants to question Frank founder Charlie Javice about transfers of millions of dollars. In a court case in which the bank is suing...

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Alacriti and Socure Team to Prevent Payment ID Fraud
Alacriti and Socure Team to Prevent Payment ID Fraud
April 13, 2023  |  Fraud Prevention

Payments FinTech Alacriti has teamed with Socure to prevent identity fraud in instant payments. “Instant payments require real-time fraud prevention, which is not something many...

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