Tagged: scam

Bill Sytsma: Senior Vice President at Callsign Reveals How Authorized Push Payment Fraud Poses Threats for Consumers

Dont Commit Fraud US

We recently connected with Bill Sytsma, Senior Vice President at Callsign, a digital trust pioneer servicing some of the top banks in the US, to discuss authorized push payment (APP) fraud. Bill began working at Callsign in January 2021, where he is responsible for the… Read More

Millions of UK Consumers Now at Risk of Fraud after “Ignoring” Bank Payment Warnings: Report

Pick Pocket Theft Steal Crook Criminal Fraud

Millions of UK bank account holders are “putting themselves at a much greater risk” of fraud by ignoring warnings provided by the Confirmation of Payee (CoP) service. This, according to research by Lloyds Bank. When sending funds online to someone that hasn’t been paid before,… Read More

Fraudulent Activities are Reportedly being Ignored on Zelle by its Founders

Pick Pocket Theft Steal Crook Criminal Fraud

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

Sentinel Protocol Developers Explain How to Report Scams, Hacks, Exploits involving Crypto-Assets

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Making digital cyberspace safer doesn’t have to be “left to the big cybersecurity corporations,” according to an update from Uppsala Security. Individuals and small businesses are able to play a key role in making the Internet and the Web 3.0 “a more secure place to… Read More

Crypto Exchange Coinbase Takes Down Suspicious Links Following “Rug Pull” Warnings

beware caution

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

Federal Agencies Join to Tackle Online Romance Scams that Have Cost Consumers “Millions”

Kiss Romeo and Juliet Romance

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

Crypto Scam: Realux, a Real Estate and Tokenization Project, Takes Investors’ Funds, Then Quickly Takes Down Website and Disappears

Caution Danger Beware

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

Minecraft NFT Initiative Blockverse Called a Scam After Team Appeared to Vanish with $1.2M in Crypto

Deadfall trap danger pitfall by Charlie DeTar

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

Kraken Security Labs Rebuilds Ledger Hardware Wallet Phishing Attack to Show Sophistication of Crypto Scammers

Panic Sim Swap Hack iPhone Warning Fear Danger

The team at digital assets firm Kraken recently alerted users that modified hardware wallets were “spotted in the wild.” Recently, someone on the Ledger subreddit had reported getting an unsolicited package with a Ledger Nano X accompanied by a letter from “the CEO” at Ledger…. Read More

Wirecard fallout: Lithuania’s Central Bank Revokes Fintech Finolita’s License

House of Cards Money Euros

Lithuania’s central bank has revoked the license of UAB Finolita Unio, a local Fintech, on charges of violating anti-money-laundering and counter-terrorist financing rules. Finolita had received a license in 2019 from the Lithuanian central bank to execute “payment transactions” and issue, distribute and redeem electronic… Read More

Fraud Awareness App Introduced by HSBC UK, Allows Businesses to Track Suspicious Activities, Potential Scams

HSBC Paris France

HSBC Holdings plc (NYSE: HSBC), a British multinational investment bank and financial services holding company, recently revealed that its UK division had introduced a fraud awareness app to offer businesses or companies up-to-the-minute or the latest updates on potential scams. HSBC, which is the second… Read More

NatWest to Allow UK Consumers to Set their Own Daily Digital Bank Transfer Limits to Reduce APP Scams

Natwest 2

NatWest, a major retail and commercial bank in the UK, will reportedly be letting clients set up their own daily digital bank transfer limits – which should help reduce the potential damage done by authorized payment push (APP) scams. NatWest, Royal Bank of Scotland and… Read More

Fraudulent Activities: Which? Requests UK Banks to Release Figures on Percentage of Clients Refunded for Authorized Push Payment Scams

Stop Fraud 600

UK-based consumer group Which? has asked local banking institutions and building societies to release figures on the number or percentage of clients they refund for authorized push payment (APP) fraud. APP scams have been increasing during the Coronavirus crisis, with losses reaching almost half a… Read More

UK Finance, Which?, City of London Police Sign Letter Asking Government to Add Online Scams to “Online Safety” Bill

London Stock Exchange City of London Wellington UK

UK Finance (a trade association for the UK banking and financial services sector that represents around 300 firms in the UK providing credit, banking, markets and payment-related services), Which? (an organization that reviews products and services, so that you “make the best purchase decisions” for your… Read More

Turkish Regulators are Working on Updating Crypto Regulations, as Another Major Exchange Faces Major Issues

Marmaris Turkey meric dagli unsplash

Crypto investors in Turkey have been dealing with major issues lately. Another major digital currency exchange has collapsed in the country and its CEO is being detained by authorities. Turkish crypto exchange Vebitcoin has suspended its operations and claims that it decided to do so… Read More

Digital Banking Fintech Revolut Reveals its Virtual and Physical Debit Cards are Widely Accepted, Shares Tips to Avoid HMRC Scams

Revolut

Digital banking challenger Revolut notes that whether you are just opening your doors to clients, growing a company or investing in a new initiative, let’s “launch into action” during this spring season. Revolut writes in a blog post that Revolut‘s virtual and physical debit cards… Read More

$600,000 in Bitcoin Allegedly Stolen from Investor via Fake Treznor App Downloaded via Apple’s App Store

Pick Pocket Theft Steal Crook Criminal Fraud

Apple (NASDAQ:AAPL) is reportedly being accused of enabling or supporting a fraudulent app which allegedly stole $600,000 worth of Bitcoin from an unsuspecting user.  A man is claiming that Apple had listed the scam app in its App Store that was posing or pretending to… Read More

Bitcoin Fraud: Teenager Graham Clark Accepts Plea Deal after Being Charged for Acquiring $100K in BTC via Twitter Scam

Photo by Robert Hickerson on Unsplash Jail Prison Razor Wire Fence

A teenager who’s responsible for taking over many high-profile Twitter accounts, as part of a huge Bitcoin scam last year, has now agreed to serve 3 years in prison in a plea deal. Graham Clark, 18, has confirmed that he’ll be pleading guilty to State… Read More

Coinbase Security Team Shares Tips to Avoid Crypto related Phishing Attacks, SIM Swapping Tactics, and Damaging Security Breaches

mouse trap danger

Digital asset exchange Coinbase notes that its Security team regularly monitors the safety of its trading platform and customers’ funds. The US-based exchange also keeps a close eye on security threats and “abuse trends” affecting the larger crypto-economy. In December of this year, personal information… Read More

UK’s Financial Conduct Authority Issues Warning Against Unauthorized Fintech Firm Lanistar

Mind the Gap Careful Warning Danger

The UK’s Financial Conduct Authority (FCA) recently issued a warning regarding Fintech firm Lanistar Ltd. The financial regulator has cautioned that they believe the company has been offering financial products or services in the UK without its authorization. The FCA noted that would-be investors must… Read More

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