Tagged: fraud

November 22, 2025 @ 3:18 pm By Omar Faridi  |  

Approximately £2 million pounds in total card chargebacks have been claimed back by Lloyds customers after a reported surge in so-called dodgy websites, according to the most recent data and insights from the banking institution. Lloyds has carefully examined and analysed reports they’ve obtained this… Read More

November 17, 2025 @ 8:21 am By Omar Faridi  |  

Kaspersky has introduced its Security Bulletin, which aims to examine the key cybersecurity trends of the past year and offers a glimpse into the potential future of these developments. The update from Kaspersky is dedicated to cybersecurity issues in the financial services ecosystem, offering an… Read More

November 11, 2025 @ 1:00 pm By JD Alois  |  

Last month, Europol announced that it had arrested seven individuals who were allegedly perpetrators in a SIM Swap scam operation. Described as a Cybercrime-as-a-Service operation, enforcement agencies took down five servers and seized 1,200 SIM box devices and 40,000 active SIM cards. Thousands of SIM… Read More

November 11, 2025 @ 7:46 am By Omar Faridi  |  

The Bank of Ireland has recently noted that the majority or more than half of the reported cases of investment fraud have been reported by clients who are aged 65 and older. Bank of Ireland data indicated that these developments were observed during the first… Read More

November 9, 2025 @ 10:31 pm By Omar Faridi  |  

This past week, Eurojust announced the results of an international operation that has been credited with dismantling a transnational criminal network, which is said to have been behind one of the largest crypto investment fraud schemes uncovered to date. TRM Labs noted in an extensive… Read More

November 5, 2025 @ 9:16 am By JD Alois  |  

Last month, an event was held in Vienna where Europol, UNODC, and the Basel Institute on Governance joined to discuss criminal activity in the crypto sector. In brief, the group sees crypto-crime as becoming more sophisticated. Burkhard Mühl, Head of Europol’s European Financial and Economic… Read More

November 2, 2025 @ 1:09 pm By Omar Faridi  |  

Common convenience features that are built into various contactless payment systems are seemingly undermining their security, according to recent university study. The research, which has reportedly been led by the University of Surrey with assistance from the University of Birmingham, appears to have exposed so-called… Read More

October 31, 2025 @ 8:53 am By Tony Zerucha  |  

According to recent research from NordVPN, prices for stolen payment cards on dark-web marketplaces rose in most countries. While the global average still sits around $8, some markets jumped by as much as 444%. In Canada, the average price fell from C$11.06 in 2023 to… Read More

October 31, 2025 @ 8:48 am By Tony Zerucha  |  

According to Ravelin’s Global Fraud Trends in Online Retail Report, 76% of retailers have seen fraud increase in the past year, with 16% reporting a significant rise.  The report finds that fraud is costing online retailers an average of $11 million a year. Ravelin finds… Read More

October 30, 2025 @ 4:43 pm By Omar Faridi  |  

A research study by global tech strategists Juniper Research anticipates a  85% surge in fraud detection and prevention investment by 2030; increasing significantly from $21 billion in 2025 to $39 billion in 2030. This reflects the urgent need to combat various fraud techniques, like real-time… Read More

October 30, 2025 @ 6:07 am By Omar Faridi  |  

Mastercard (NYSE: MA) has recently announced Mastercard Threat Intelligence, the threat intelligence offering applied to payments at scale. The solution brings together Mastercard’s fraud insights and network visibility with curated cyber threat intelligence from Recorded Future‘s platform to help payment fraud and merchant compliance teams… Read More

October 28, 2025 @ 4:44 pm By Omar Faridi  |  

Digital assets firm Kraken has issued an alert about the increase in recruitment and job-related scams via networks like LinkedIn and social media platform X. Indeed, job scams are nothing new but they continue to take on new forms with an increasing level of sophistication…. Read More

October 24, 2025 @ 8:08 am By Omar Faridi  |  

More than £600 million has reportedly been stolen by fraudsters in first half of 2025. UK Finance releases its half year fraud report, detailing the amount its members reported as stolen through payment fraud and scams in the first half of 2025. Criminals stole £629.3… Read More

October 21, 2025 @ 9:25 am By Omar Faridi  |  

FutureBank, a banking and payments integration platform, announced an international partnership with Regtech company Sumsub, a global verification provider. The latest collaboration should help banking service providers with enhancing their digital transformation strategies and control all identity operations via a unified platform. The partnership brings… Read More

October 15, 2025 @ 12:31 am By Omar Faridi  |  

Regtech firm Sumsub released the latest edition of its Global Fraud Index, developed in collaboration with Statista, CryptoUK, Digital Assets Association, Vixio Regulatory Intelligence and MENA Fintech Association. Timothy Owens, Tech and AI Industry Expert, and Senior Research Lead Technology and TeleCommunications at Statista shared… Read More

October 9, 2025 @ 4:52 pm By Omar Faridi  |  

The payments industry has been combatting fraud for many years. But according to Chargebacks911, a global firm focused on dispute resolution and chargeback prevention, data reveals that merchants are losing more money and goodwill to false declines than to fraudulent activities. This appears to be… Read More

October 7, 2025 @ 10:06 am By Omar Faridi  |  

October 7, 2025 marks the first year since the UK’s Payment System Regulator or PSR introduced mandatory APP fraud reimbursement rules. Although 88% (£112m) of losses under the policy have reportedly been returned to victims, the total value of claims increased from Q1 to Q2… Read More

October 4, 2025 @ 7:09 am By Tony Zerucha  |  

Socure, a provider of artificial intelligence for digital identity verification, authentication, KYC, KYB, sanctions screening, and fraud prevention, has launched Socure Signals, giving enterprises direct access to the feature store powering Socure’s ML models. At launch, Socure Signals delivers more than 250 features, with expansion planned in… Read More

October 1, 2025 @ 12:00 pm By Omar Faridi  |  

Digital bank Revolut has reportedly recorded the highest number of fraud and scam complaints that had been referred to the Financial Ombudsman Service (FOS). Data reviewed by Which? found that fraudulent activity complaints from clients of the digital banking service provider had outnumbered all other… Read More

September 30, 2025 @ 12:42 pm By JD Alois  |  

The founder of Fintech Frank, Charlie Javice, a platform that sought to streamline the process for students to tap into available funds for college, has been sentenced to seven years in prison for fraud. According to reports, Javice is also reportedly required to return $22.4… Read More