Tagged: fraud

March 23, 2026 @ 9:16 pm By Omar Faridi  |  

TRM Labs has noted that federal officials in North Carolina have confiscated more than $61 million in stablecoin USDT tied to one of the most sophisticated and damaging online fraud schemes targeting everyday investors. TRM Labs also mentioned that the action, disclosed recently by the… Read More

March 14, 2026 @ 9:47 pm By Omar Faridi  |  

The United Kingdom experienced a sharp escalation in fraudulent activity throughout 2025, with organizations submitting a total of 444,993 risk alerts to the National Fraud Database operated by Cifas. This total represents the largest volume ever documented in any single year and reflects a 6%… Read More

March 13, 2026 @ 8:34 am By Omar Faridi  |  

CertiK has pointed out that cryptocurrency ATM scams have evolved into one of the fastest-growing threats in the digital asset space. According to blockchain security firm CertiK’s latest Skynet analysis, total losses from these schemes reached $333.5 million in 2025 alone—a dramatic escalation fueled by… Read More

March 12, 2026 @ 7:38 pm By Tony Zerucha  |  

InformedIQ, a developer of AI-based software for income and employment verifications, has released the results of an industry-wide survey, presented to more than 2,500 auto finance professionals. The findings reveal that while fraud levels are reaching new heights, lenders are increasingly wary of generic AI… Read More

March 8, 2026 @ 7:51 am By Tony Zerucha  |  

This week, Independent Community Bankers of America (ICBA) testified before Congress on legislative and regulatory recommendations to help community banks combat fraud and scams. Testifying before the House Financial Services Committee’s Subcommittee on Financial Institutions, Gay G. Dempsey—the CEO of Bank of Lincoln County in Fayetteville, Tenn.—said the fraud problem is urgent and… Read More

March 6, 2026 @ 7:55 am By Tony Zerucha  |  

DataVisor, an AI-powered fraud and risk management platform, released its 2026 Fraud & AML Executive Report, revealing an AI Readiness Gap between rising concern over AI-driven fraud and financial institutions’ ability to defend against it. The report found that 74% of surveyed senior fraud and… Read More

March 2, 2026 @ 8:48 am By Michael Wong  |  

South Korean police have launched an investigation into the alleged theft of cryptocurrency worth about $4.8 million that had been seized by the National Tax Service (NTS), after sensitive wallet information was inadvertently disclosed, the Korea JoongAng Daily reported. The National Police Agency (NPA) said… Read More

February 28, 2026 @ 8:54 am By Tony Zerucha  |  

Fideo Intelligence, an AI-driven identity intelligence engine, this week announced the launch of Verify for Payments, a real-time identity intelligence solution designed to help payment service providers, fintech platforms, payment processors, and financial institutions detect fraud earlier while approving more legitimate customers. As global fraud losses are projected… Read More

February 25, 2026 @ 11:38 am By Omar Faridi  |  

Businesses in Europe, the MENA Region, and Asia-Pacific regions are confronting a sharp escalation in fraud, with losses mounting faster than protective measures can respond, according to a study released by Experian. The research, conducted by Forrester Consulting on behalf of the global data and… Read More

February 22, 2026 @ 3:45 pm By Omar Faridi  |  

A San Francisco federal judge has granted a significant victory to Evolve Bank & Trust by dismissing a fraud lawsuit brought against it by fintech company Yotta Technology, at least in federal court. The ruling, issued on February 18, 2026, by Judge Trina L. Thompson… Read More

February 18, 2026 @ 1:06 pm By Omar Faridi  |  

Traditional Know Your Customer (KYC) and Know Your Business (KYB) processes are no longer sufficient. Juniper Research’s recent whitepaper  explores how identity verification is advancing beyond initial customer and merchant onboarding to encompass continuous, agent-level governance. Authored by Research Analyst Shane O’Sullivan, the report analyzes… Read More

February 13, 2026 @ 11:22 am By Omar Faridi  |  

A federal court in Brooklyn has imposed a substantial penalty on the ex-leader of a prominent crypto firm. Braden John Karony, previously at the helm of SafeMoon US LLC, received a 100-month incarceration period for his role in a deceptive operation that misled numerous backers…. Read More

February 5, 2026 @ 8:38 am By Omar Faridi  |  

Equifax (NYSE: EFX) has unveiled a new predictive tool aimed at shielding lenders from the escalating threats of first-party fraud. Announced on January 30, 2026, the Credit Abuse Risk model leverages data compliant with the Fair Credit Reporting Act (FCRA) to identify suspicious behaviors that… Read More

February 5, 2026 @ 8:07 am By Tony Zerucha  |  

ACAMS, a service provider to the AML, fraud and sanctions communities, published its annual Global Anti-Financial Crime Threats Report identifying the top financial crime threats for the coming year. The report is based on a survey of 1,400 global AFC professionals across more than 200… Read More

February 4, 2026 @ 7:28 pm By Omar Faridi  |  

In yet another blow to the prestige of Forbes’ annual list of promising young talents, a 26-year-old fintech innovator has been charged with orchestrating a sophisticated fraud that bilked investors out of millions. Gokce Guven, the CEO of Klader Inc., faces federal indictment for allegedly… Read More

February 4, 2026 @ 2:25 am By Omar Faridi  |  

In the fast-paced industry of car sales, fraud has emerged as a pressing issue for the majority of dealers, according to a recent study by Experian Automotive. Released during the National Automobile Dealers Association Show in Las Vegas, the research report highlights how deceptive practices… Read More

February 3, 2026 @ 9:13 pm By Tony Zerucha  |  

AU10TIX, a provider of identity verification and fraud detection, this week announced the success of Microsoft’s internal partner validation solution, OneVet, which uses Microsoft Azure, Verifiable Credentials (VCs), and AU10TIX’s advanced identity intelligence. The collaboration has enabled fast, accurate, and automated validation of partner accounts,… Read More

January 30, 2026 @ 3:50 am By Omar Faridi  |  

UK Finance has pointed out that industry professionals are calling for a fundamental rethink of how to combat scams. UK Finance also indicated that with fraud losses climbing to staggering levels—over £629 million in the first half of 2025 alone, marking a 17% increase in… Read More

January 28, 2026 @ 6:14 am By Omar Faridi  |  

In a move to enhance accuracy and security in consumer lending, Equifax (NYSE: EFX) has rolled out products aimed at streamlining credit decisions and combating sophisticated fraud. These advancements come at a time when financial institutions face increasing pressure to balance rapid approvals with robust… Read More

January 27, 2026 @ 10:23 am By Tony Zerucha  |  

As AI-powered fraud improves, Kidas is one company businesses and consumers from a constantly evolving threat. Kidas CEO Ron Kerbs said traditional approaches won’t stop criminals who use methods that evade standard filters. Kidas’ origins are in gaming. During the COVID-19 pandemic, people increasingly turned… Read More