Federal authorities are warning banks against the rising threat of passport card fraud. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Department of State’s Diplomatic Security Service (DSS) issued a notice to financial institutions Monday (April 15), urging them to be on the lookout for suspicious...
While we were all watching online fraud, social engineering and ransomware, an old school financial crime tactic is rearing its ugly head. Counterfeit banknotes are making a comeback back all over the world, exposing in-store merchants and restaurants to potential lost revenue. The issue exists...
Amazon has accused a pair of social media influencers of promoting counterfeit goods. In a lawsuit filed Wednesday (Sept. 6), the eCommerce giant accuses Kamryn Russell, Ashley Hawat and unnamed co-conspirators of intentionally trying to get around Amazon’s brand protection systems to sell fake versions of...
Knowingly buying fakes is taking hold as a cost-cutting trend among younger shoppers. As the high price of luxury goods presents a barrier to purchase for many inflation-constrained shoppers, some Gen Z and millennial consumers have embraced buying fakes, or “dupes,” instead, as detailed in...
May 09, 2024
The internet has been both a blessing and a curse to society and commerce alike. And with the news Wednesday (May 8) that a criminal network of over 75,000 fake eCommerce shops has scammed over 800,000 shoppers in the U.S. and Europe, embracing digital innovation while at the same time ensuring payments security is top of […]
March 15, 2024
While we were all watching online fraud, social engineering and ransomware, an old school financial crime tactic is rearing its ugly head. Counterfeit banknotes are making a comeback back all...
November 23, 2017
Anniversaries are a time for reflection, and one year into India’s grand de-monetization drive, the results are mixed. Counterfeiting activity has simply moved to embrace the new notes. GDP is...
April 06, 2017
Given that counterfeiting is driven largely by the desire for cheap goods, it can be somewhat shocking to see exactly just how high the annual cost of counterfeiting and digital...
April 15, 2024
Federal authorities are warning banks against the rising threat of passport card fraud. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Department of State’s Diplomatic Security Service (DSS) issued a notice to financial institutions Monday (April 15), urging them to be on the lookout for suspicious activity related to the use of counterfeit passport cards. “Since […]
September 06, 2023
Amazon has accused a pair of social media influencers of promoting counterfeit goods. In a lawsuit filed Wednesday (Sept. 6), the eCommerce giant accuses Kamryn Russell, Ashley Hawat and unnamed co-conspirators...
April 21, 2023
Amazon has launched a private-sector partnership working to stop the sale of counterfeit goods. The new Anti-Counterfeiting Exchange (ACX) allows participating stores to share information about counterfeiters to help all...
April 26, 2022
Amazon’s Counterfeit Crimes Unit (CCU) played a key role in shutting down a Chinese counterfeiter who was making knockoff versions of Salvatore Ferragamo S.p.A.’s Gancini belts, according to a company...
