Tagged: fraud

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

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

June 16, 2026 @ 2:53 am By Omar Faridi  |  

Blockchain intelligence firm TRM Labs has issued an early alert on rising cryptocurrency scams linked to the upcoming FIFA World Cup 2026. According to their analysis, fraud operators are already deploying various schemes aimed at enthusiastic supporters, capitalizing on heightened excitement around the global tournament…. Read More

June 16, 2026 @ 12:44 am By Omar Faridi  |  

Feedzai has introduced Feedzai IQ Score, which is described as an AI-driven solution designed to enhance fraud prevention capabilities for banks worldwide. Announced on June 9, 2026, this new offering provides financial institutions with access to vast, network-sourced intelligence, enabling real-time detection of fraudulent activities… Read More

June 15, 2026 @ 11:19 am By Omar Faridi  |  

A federal appeals court has firmly rejected efforts by Sam Bankman-Fried, the disgraced founder and former chief executive officer of the collapsed cryptocurrency exchange platform FTX, to secure a new trial. The ruling, issued on June 12, 2026, by a three-judge panel of the US… Read More

June 15, 2026 @ 2:10 am By Omar Faridi  |  

Criminals stole nearly £1.28 billion through payment fraud in 2025, according to the latest annual figures from UK Finance, marking a 4% rise from the previous year. The data underscores how fraud has evolved into a large-scale operation that endangers individuals, companies, and the broader… Read More

June 10, 2026 @ 8:29 am By JD Alois  |  

BioCatch, an OurCrowd portfolio company, says that banks and Fintechs are challenged in dealing with AI fueled fraud and scams. BioCatch is an anti-fraud AI firm that aims to halt financial crime by using thousands of data points to track behavior. The company reports that… Read More

June 8, 2026 @ 12:08 pm By Ariel Reid  |  

There is a reason your bank texts you a fraud alert instead of emailing it. People open text messages. Almost all of them, almost immediately. SMS open rates run as high as 98%, and roughly 90% of messages are read within three minutes of delivery…. Read More

June 5, 2026 @ 8:18 am By Omar Faridi  |  

An emerging wave of rather concerning online theft is leveraging one of the Fintech sector’s most widely used platforms in order to conceal and reportedly distribute malicious code designed to harvest sensitive payment details. Security researchers have uncovered a refined Magecart-style campaign that cleverly repurposes… Read More

June 5, 2026 @ 2:19 am By Omar Faridi  |  

A new research report indicates that artificial intelligence (AI) is reshaping the fraud landscape, significantly amplifying new and traditional risks. According to CBInsights, sophisticated tactics such as synthetic identities, deepfakes, voice cloning, and swarms of autonomous bots now operate alongside classic methods like account takeovers… Read More

June 4, 2026 @ 3:16 pm By Omar Faridi  |  

Coinbase (NASDAQ:COIN) has recently announced the conclusion of a large-scale collaborative effort targeting scam operations. The initiative, involving major technology firms and U.S. law enforcement, resulted in the freezing of more than $3 million linked to fraudulent networks primarily active in Southeast Asia. This outcome… Read More

June 1, 2026 @ 6:04 am By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) has taken legal action against Nathan Fuller, a resident of Cypress, Texas, accusing him of masterminding a significant cryptocurrency fraud that defrauded approximately 150 investors of around $12.3 million. The SEC has filed its complaint on May 28,… Read More

May 27, 2026 @ 2:53 pm By JD Alois  |  

A recent report on financial services crimes states that 65% of these occurrences involve a human element. The report published by Verizon says that “phishing victims, errors, and social engineering remain persistent attack surfaces despite security investments.” Internal data is compromised in 53% of financial… Read More

May 21, 2026 @ 9:36 pm By Omar Faridi  |  

Visa (NYSE: V) has released its latest online / digital threats research report, underscoring a significant evolution in the payments fraud landscape. As network-level security measures grow more robust, fraudsters are pivoting toward sophisticated social engineering tactics enhanced by artificial intelligence. These approaches focus on… Read More

May 21, 2026 @ 1:05 am By Omar Faridi  |  

Adyen‘s (AMS: ADYEN) latest research report on fraudulent activities, titled “Fraud’s Identity Crisis,” highlights a significant evolution in payment fraud. While traditional fraud losses on its global platform fell by a fifth or 20% in 2025, this decline masks deeper challenges. The average value of… Read More