Tagged: fraud

March 21, 2022 @ 11:27 am By Omar Faridi  |  

Callsign, the digital trust pioneer, recently announced the results of their first Buy Now Pay Later (BNPL) survey which polled over 2,000 U.S. adults on their experience with Buy Now Pay Later services “offered via retail sites.” Buy Now Pay Later services have “continued to… Read More

March 20, 2022 @ 11:59 pm By Omar Faridi  |  

In recent years, the peer-to-peer market has become “a competitive alternative to traditional assets due to attractive returns on investments, their predictability (yield and term are known in advance), ease of management and low volatility.” according to an update from Robo.cash. However, Robocash clarifies that… Read More

March 14, 2022 @ 8:30 am By Omar Faridi  |  

André Ferraz. CEO at Incognia, a “privacy-first” innovator in location technology, enabling “frictionless” zero-factor authentication for mobile. recently commented on why location spoofing is critical for crypto companies amid sanctions on Russia. He talked about why it is important to keep track of users’ activities… Read More

March 8, 2022 @ 3:28 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has charged Dwayne Golden of Florida, Jatin Patel of India, Marquis Egerton of North Carolina, and Gregory Aggesen of New York with fraud for operating a Ponzi scam involving Bitcoin. According to the CFTC, the four individuals fraudulently solicited more… Read More

March 8, 2022 @ 3:13 pm By Omar Faridi  |  

Banking institutions appear to be ignoring the problem of fraudulent activities allegedly being carried out via Zelle, a new report reveals, with large financial service providers that founded the service not really caring or concerned about issues with the digital payments platform. Zelle has quickly… Read More

March 8, 2022 @ 3:03 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced fraud charges against John and JonAtina (Tina) Barksdale – a brother and sister team that allegedly pursued two fraudulent digital token offerings that garnered $124 million from retail investors. In a parallel action, the U.S. Attorney’s Office… Read More

February 19, 2022 @ 9:46 am By Omar Faridi  |  

Trulioo, the international identity verification firm, recently announced four new banking clients: Bambu Systems, Guardian Gold, Nerve and Simba. With Trulioo GlobalGateway, one of the largest networks of identity data and services, financial institutions can “deploy identity checks that help them satisfy Know Your Customer… Read More

February 18, 2022 @ 11:42 am By JD Alois  |  

SIM Swap fraud has been prevalent for years now targeting both traditional financial services as well as crypto investments. The scam is where a criminal hijacks your mobile phone by using a new SIM card affiliated with your phone number. Once accomplished, two-factor authentication goes… Read More

February 12, 2022 @ 2:54 pm By Omar Faridi  |  

Sardine, the fraud and compliance platform for Fintech firms, completed a $19.5 million in Series A round from Andreessen Horowitz, NYCA, and Experian Ventures “to enable companies to protect customers from financial fraud.” As mentioned in the update, Andreessen Horowitz General Partner Angela Strange joins… Read More

February 11, 2022 @ 5:13 pm By Omar Faridi  |  

Coinbase Global (NASDAQ: COIN) has reportedly removed “how to buy” instructions for around three digital tokens which have been the subject of “rug pull” warnings – which claims that people could lose their funds. Coinbase’s management also mentioned that they are focused on enhancing safeguards…. Read More

February 10, 2022 @ 9:15 am By Omar Faridi  |  

Mark Zuckerberg‘s Meta is teaming up Fintech Chime in order to go after (alleged) Nigerian scammers that the firms claim have been using social media channels to trick or deceive unsuspecting users out of their hard-earned cash. As reported by Newsweek, the lawsuit marks the… Read More

February 7, 2022 @ 5:32 pm By JD Alois  |  

Dating or Defrauding. Catfishing has become a thing in the online dating world. While at times, Catfishing may be as simple as using a photo that does not represent the person in question at all, in some instances it has been taken to an extreme… Read More

February 6, 2022 @ 4:57 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) recently noted that banks in the Southeast Asian country have “substantially” implemented the additional measures to enhance the security of virtual banking announced on 19 January 2022. The measures, taken together, offer a “significant” added layer of security to… Read More

February 6, 2022 @ 3:17 pm By Omar Faridi  |  

Four managers working at Germany’s digital bank N26 are reportedly being investigated by public prosecutors regarding suspicions about (allegedly) fraudulent client accounts, the Handelsblatt newspaper confirmed on Friday (February 4, 2022). Criminals or bad actors have been suspected of opening a fairly large number of… Read More

February 3, 2022 @ 11:05 am By Omar Faridi  |  

Realux, which claimed to be a real estate crypto project, reportedly paid social media influencers to support the idea that the initiative might help with addressing the wealth inequality issue by democratizing the real estate industry. However, the Realux project founders and team appeared to… Read More

February 1, 2022 @ 8:46 am By Omar Faridi  |  

An “unofficial” Minecraft NFT collection is now the most recent initiative that turned out to be a rug pull (but the founders claim otherwise). Recently, the project called “Blockverse”, which offered an on-chain Ethereum NFT that claimed to support a unique P2E on Minecraft “like… Read More

January 29, 2022 @ 12:36 pm By Omar Faridi  |  

More than 1.5 million US banking/payment cards may reportedly be found via the dark web, according to a study carried out by cybersecurity firm NordVPN. The study by NordVPN reveals that a total of 1,561,739 American payment card details had been discovered by researchers. This… Read More

January 17, 2022 @ 4:10 pm By Omar Faridi  |  

The team at Mastercard (NYSE: MA) notes that for most or many of us, returns are “a necessary evil” following the holiday shopping season. For example, that sweater that Mom gave you might be two sizes too small. But for some consumers, returns are just “another… Read More

January 17, 2022 @ 12:19 pm By Omar Faridi  |  

A CertiK security analysis has found that over 50 so-called decentralized finance (DeFi) and non-fungible token or NFT projects may have “critical” vulnerabilities. CertiK wrote in a blog post that they “feel obligated to share these insights” with their community members. According to the blockchain… Read More

January 11, 2022 @ 10:47 pm By Omar Faridi  |  

Trulioo, the international identity verification firm, notes that ID verification has three primary use cases: “achieving compliance requirements, reducing fraud and building trust and safety.” Trulioo explains in a blog post that depending on your business and where you operate, you might “prioritize a particular… Read More