Tagged: fraud

August 15, 2026 @ 6:40 pm By Omar Faridi  |  

Arizona residents who fell prey to cryptocurrency ATM scams have begun reclaiming their funds thanks to a state consumer protection measure. Attorney General Kris Mayes recently revealed that her office has assisted 35 individuals in securing complete reimbursements amounting to $171,332. These recoveries stem from… Read More

August 11, 2026 @ 12:30 pm By JD Alois  |  

Netcapital (NASDAQ:NCL), an early entrant in the securities crowdfunding sector, has been charged with fraud. According to a report by Reuters, the Securities and Exchange ​Commission has filed charges in Boston Federal Court alleging that NetCapital improperly recorded $14 million in revenue from consulting by… Read More

August 10, 2026 @ 9:02 pm By Omar Faridi  |  

Brazil is preparing to strengthen safeguards against cryptocurrency-related fraud through a new regulatory measure that introduces a mandatory waiting period for certain outbound transfers. The Central Bank of Brazil (Banco Central do Brasil) published Resolution BCB No. 584/2026 on August 7, 2026, amending earlier fraud-prevention… Read More

August 4, 2026 @ 3:36 am By Omar Faridi  |  

Hong Kong authorities have highlighted a major online romance fraud in which a middle-aged insurance professional lost more than HK$26 million (approximately US$3.3 million) after being drawn into a scheme centered on a bogus cryptocurrency trading application. According to police figures released via the force’s… Read More

August 3, 2026 @ 8:15 am By Omar Faridi  |  

Michael Coates, the newly appointed chief information security officer at the Solana Foundation, has raised alarms about how artificial intelligence is transforming cryptocurrency-related fraud into something far more convincing and harder to detect. In a recent interview, Coates stressed that the industry’s most pressing risks… Read More

July 27, 2026 @ 8:14 am By Omar Faridi  |  

Elliptic has noted that Crypto ATMs, often called Bitcoin ATMs because of the cryptocurrency’s dominance, provide a straightforward way for people to convert physical cash into digital assets. While these machines serve legitimate customers, they have also become a favored tool for fraudsters. Scams typically… Read More

July 25, 2026 @ 4:42 pm By Omar Faridi  |  

A New York state court has refused to throw out a major lawsuit targeting the company behind the popular Zelle payment service, allowing claims of widespread consumer fraud to move forward. The ruling represents a significant setback for Early Warning Services, the operator of Zelle,… Read More

July 24, 2026 @ 4:18 pm By Tony Zerucha  |  

  Regulators are coming with questions about financial institutions’ Artificial Intelligence processes that many will struggle to answer, warns QAwerks CEO Konstantin Klyagin. More documented hallucinations, customer complaints of banking doom loops, and the CFPB’s determination that inaccurate Artificial Intelligence chatbot responses may be federal… Read More

July 23, 2026 @ 6:23 am By Omar Faridi  |  

The latest insights from UK Finance underscore a persistent and evolving challenge in the fight against financial crime. Despite consant efforts by banks and financial institutions to block illicit activities, fraudsters are demonstrating greater sophistication, leading to rising losses and a notable change in tactics…. Read More

July 21, 2026 @ 8:59 pm By Tony Zerucha  |  

While fraud continues to evolve (with AI playing its part), Veriff fraud platform lead, Ira Bondar-Mucci, said familiar methods still reign supreme. Veriff’s identity verification platform supports more than 3,000 businesses, including Western Union, Bumble, Blockchain, Stake, Instacart and AWS. Veriff’s 2026 Identity Fraud Report… Read More

July 21, 2026 @ 12:18 pm By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) has taken legal action against a Florida man and his associated business for their alleged involvement in a substantial cryptocurrency mining fraud that targeted hundreds of investors. According to the regulator, the scheme raised around $22 million by… Read More

July 10, 2026 @ 6:51 am By Omar Faridi  |  

Fintech firm Block Inc. (NYSE: XYZ), the company behind the popular peer-to-peer payment platform Cash App, has agreed to pay $45 million and implement significant operational changes to resolve a multistate investigation. Attorneys general from 46 US states accused the firm of misleading consumers about… Read More

July 7, 2026 @ 8:48 am By Omar Faridi  |  

BonkDAO—the entity managing aspects of the BONK memecoin ecosystem on Solana—has confirmed the loss of roughly $20 million worth of BONK tokens from its treasury. The incident stemmed from a malicious governance proposal that successfully authorized the transfer of funds to an attacker-controlled wallet. According… Read More

July 7, 2026 @ 6:23 am By Omar Faridi  |  

The United Kingdom’s Payment Systems Regulator (PSR) has announced that its mandatory reimbursement rules for authorised push payment (APP) fraud are producing clear overall benefits for consumers and the wider payments sector. Authorized push payment scams occur when individuals are tricked into authorizing transfers directly… Read More

July 5, 2026 @ 3:49 pm By Tony Zerucha  |  

Security firm Microblink’s report Mapping the Rise of AI-Powered Identity Fraud describes how AI’s widespread availability and ease of use have changed how criminals commit fraud, and how security companies stop them. AI has erased human limitations. It is now easy to operate across multiple… Read More

July 3, 2026 @ 8:32 am By Omar Faridi  |  

The fast-evolving ecosystem of digital payments is now seeing merchants facing mounting challenges from fraudulent activities that drive up the expense of handling disputes. A recent analysis from Verifi, highlighted in their 2026-focused content on the real cost of disputes, underscores how first-party misuse (often… Read More

June 23, 2026 @ 12:56 am By Omar Faridi  |  

Regtech Prove has indicated that account takeover (ATO) fraud is quietly eroding revenues, damaging customer trust, and complicating operations across digital marketplaces and gig economy platforms. Criminals who gain unauthorized control of user accounts can exploit stored payment details, loyalty points, promotional credits, and trusted… Read More

June 22, 2026 @ 10:11 am By Tony Zerucha  |  

Ravelin’s Global Fraud Trends 2026 report outlines evolving fraud trends. While there is stability and even decline in some metrics, new concerns have arisen with issues like AI. Ravelin surveyed 1,504 professionals across 10 countries. Fraud still hits companies hard. At least 30% of companies… Read More

June 17, 2026 @ 4:07 pm By Omar Faridi  |  

Property managers face growing challenges from fraudulent rental applications, with new research highlighting rapid credit inquiry activity as the strongest predictor of future financial losses. According to a TransUnion (NYSE: TRU) research study,  applicants are now showing unusually high volumes of recent credit checks and… Read More

June 17, 2026 @ 1:58 am By Omar Faridi  |  

Chainalysis has noted that Ghanaian and British law enforcement agencies have recovered approximately $15.1 million in cryptocurrency linked to a sophisticated investment scam. This case highlights the growing effectiveness of blockchain analytics in tracing and reclaiming assets from transnational fraud operations. According to insights from… Read More