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.

TD Bank and HBSC Make ‘Monumental’ Settlement in $7B Ponzi Case
TD Bank and HBSC Make ‘Monumental’ Settlement in $7B Ponzi Case
February 27, 2023  |  Legal

A group of banks have agreed to settle a lawsuit tied to a $7 billion Ponzi scheme. Among these is TD Bank, which announced in...

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PYMNTS Intelligence: CUs Can Do More to Address Members’ Fraud Concerns
PYMNTS Intelligence: CUs Can Do More to Address Members’ Fraud Concerns
February 27, 2023  |  Credit Unions

As more consumers turn to digital solutions to handle their financial needs, the risk of fraud is increasing — a dynamic of which digital banking...

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Former MoviePass Executive Charged with Wire Fraud and Money Laundering
Former MoviePass Executive Charged with Wire Fraud and Money Laundering
February 24, 2023  |  Security & Fraud

A former executive at MoviePass was charged with wire fraud and money laundering for allegedly taking money to pay for a party at Coachella. Khalid...

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New Criminal Charges Allege Bankman-Fried Used FTX Funds as Personal Piggy Bank
New Criminal Charges Allege Bankman-Fried Used FTX Funds as Personal Piggy Bank
February 24, 2023  |  Legal

Sam Bankman-Fried’s associates have flipped on him, and now here comes the script. This, as a superseding indictment charging the failed FTX and Alameda Research...

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New Indictment Portrays Bankman-Fried’s ‘Savior’ Image as a Smokescreen
New Indictment Portrays Bankman-Fried’s ‘Savior’ Image as a Smokescreen
February 23, 2023  |  Legal

Federal prosecutors have indicted FTX founder Sam Bankman-Fried for a host of new crimes. According to a 12-count indictment unsealed Thursday (Feb. 23), Bankman-Fried —...

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Report: Mysterious ‘Nevada Group’ Launches Mass Ransomware Attack
Report: Mysterious ‘Nevada Group’ Launches Mass Ransomware Attack
February 23, 2023  |  Security & Fraud

Hackers dubbed the “Nevada Group” have reportedly launched one of the largest ever ransomware attacks. The goal of the as-yet-unidentified group is to paralyze computer...

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NYDFS Upgrades Its Crypto Fraud Detection Arsenal
NYDFS Upgrades Its Crypto Fraud Detection Arsenal
February 21, 2023  |  Fraud Prevention

New York’s financial watchdog is continuing its crypto crackdown with new fraud detection tools. The state’s Department of Financial Services (NYDFS) announced Tuesday (Feb. 21)...

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57% of Consumers Trust Banks to Safeguard Credentials With Vaults
57% of Consumers Trust Banks to Safeguard Credentials With Vaults
February 21, 2023  |  Security & Fraud

When it comes to keeping online credentials and payments safe, consumers trust their banks. Conducting so much of our daily lives online has risk and...

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SendFriend CEO Says It’s Time To Get Serious About Compliance 
SendFriend CEO Says It’s Time To Get Serious About Compliance 
February 21, 2023  |  B2B Payments

Today’s challenging climate has businesses prioritizing investments in systems deemed crucial for the long haul. This, as research in PYMNTS’ 2023 “B2B Payments Fraud Tracker”...

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