Tagged: fraud

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

May 13, 2026 @ 1:20 am By Omar Faridi  |  

The International Monetary Fund (IMF) has issued a fresh alert on the growing dangers to global financial stability from artificial intelligence. In a blog post dated May 7, 2026, the IMF explains how AI is reshaping both the vulnerabilities and defenses of the financial system…. Read More

May 10, 2026 @ 2:10 pm By Omar Faridi  |  

The City of London Corporation has issued a direct appeal to UK-based technology companies to help design and implement a pioneering digital verification network. The initiative aims to strengthen defenses against fraud in the financial services industry while simplifying processes for businesses and consumers. Fraud… Read More

May 8, 2026 @ 10:19 pm By Omar Faridi  |  

A 30-year-old Saipan resident known as Sze Man Yu Inos, who also goes by the name Yuki, was sentenced to more than five and a half years behind bars for orchestrating a deceptive wire fraud operation that exploited the trust of numerous older women. On… Read More

May 4, 2026 @ 8:49 am By Omar Faridi  |  

North Korea has launched a forceful denial of international accusations linking it to large-scale cryptocurrency thefts, directing its ire at what it describes as “reptile media” alongside U.S. officials and allied groups. In an official statement released through state channels, a Foreign Ministry spokesperson dismissed… Read More

May 2, 2026 @ 7:23 am By Omar Faridi  |  

Juniper Research indicated that the digital identity verification market is poised for significant expansion as businesses grapple with sophisticated AI-powered fraud and stricter regulatory demands. According to a new analysis from Juniper Research, global spending on these solutions is projected to rise 55% from approximately… Read More

April 29, 2026 @ 7:53 am By Omar Faridi  |  

The Canadian federal government has unveiled plans to outlaw cryptocurrency automated teller machines (ATMs) nationwide. The announcement, embedded in the Spring Economic Update 2026 released on April 28, positions the ban as a direct response to the machines’ increasing exploitation by scammers and money launderers…. Read More