Tagged: scam

Nubank Introduces Initiative to Raise Awareness About Scams and Fraud

To give even more visibility to security and empower people to identify possible financial scams, Nubank (NYSE:NU) announces the campaign #PareceMasNãoÉoNubank (it looks like Nubank, but it isn’t). Through educational videos on major digital platforms, the company seeks to alert its customers to everyday situations… Read More

Australia: Westpac Announces New Digital Payment Security Features to Help Combat Losses from Scams

Westpac has shared new scam prevention measures for its clients. Westpac recently announced new digital payment security features “to help combat scam losses.” In an Australian banking “first,” Westpac will “integrate its sophisticated fraud detection systems with its digital payment platforms to help customers identify… Read More

Multichain Halts Operations as CEO Zhaojun’s Sister Now Detained by Chinese Authorities, Might Be Holding $220M of Funds

On May 21, 2023, Multichain CEO Zhaojun was taken away by the Chinese police from his home and has been out of contact with the global Multichain team ever since. As noted via social media, the team claims they contacted the MPC node operators and… Read More

$100M+ Multichain Hack Could Be A “Rug Pull,” Report Claims

The Multichain hack could potentially be a “rug pull,” as an additional $103 million in funds were recently drained. Multichain, which is described as a cross-chain bridge protocol, reportedly saw another $103 million transferred to other blockchain addresses. This, according to security company Beosin. This… Read More

Crypto Crime Down Considerably, But Ransomware Headed for Huge Year: Report

2023 so far has been a year of “recovery” for cryptocurrency after a chaotic 2022, with prices of digital assets like Bitcoin up over 80% on the year as of June 30, the team at Chainalysis noted. And that’s not the only “good news” for… Read More

Fraud Prevention: Mastercard Leverages AI to Combat Real-Time Payment Scams

From romance scams to fictious online deals, impersonation scams of all kinds have plagued people and businesses over recent years and “shaken the confidence of victims.” However, the tide is turning. Mastercard (NYSE: MA) is taking the fight to the fraudsters “with its one-of-a-kind AI… Read More

Investment Scams: Australian Banks, Regulatory Agencies, Telcos to Combat Fraudulent Activities

The National Anti-Scam Centre will be coordinating an investment scam fusion cell in order to address the growing problem of investment-related scams, which are now costing Australian consumers well over $1 billion a year. The fusion cell will reportedly be led by the ACCC and… Read More

Pig Butchering Scam Target of CFTC Enforcement Action

Another Pig Butchering scam is in the news again. “Sha Zhu Pan” or “Pig Butchering” is a romance plot designed to fleece the funds of the unsuspecting. In this case, the Commodity Futures Trading Commission (CFTC) has filed an enforcement action against Cunwen Zhu and… Read More

APP Scams Emerge as Top Payments Fraud Threat, ACI Worldwide Report Claims

One in every five global consumers surveyed in 2022 said they “fell victim to payments fraud in the last four years — 26.9% of whom are victims of Authorized Push Payment (APP) scams, which is the number one fraud threat globally” — according to the… Read More

Australia: Significant Spike in Scams, Fraudulent Activities Prompts NAB Warning to Aussies Selling Items Online

Australians selling unwanted or used items on Facebook Marketplace, Gumtree and other online websites are “being urged to remain vigilant as new data reveals a spike in scams.” Customer reports of goods and services scams have “increased 66% in the past three months.” A third… Read More

Australia: Commonwealth Bank (CBA) Steps Up National Battle Against Scams, Fraudulent Activities

NameCheck anti-fraud technology to be offered to government, financial services firms as CommBiz customers get use of new service from now. Commonwealth Bank plans to offer its NameCheck anti-scams technology “to government organizations and other financial service companies that process payments in Australia as part… Read More

Cybersecurity: Iris Powered by Generali Launches ScamAssist, a Consumer Protection Service

Iris Powered by Generali, provider of a proprietary identity and cyber protection platform,  announced the launch of ScamAssist, a dedicated service to help Iris’ clients provide customers comprehensive and rigorous protection against email, phone, text, and direct mail scam attempts. In conjunction with the launch,… Read More

Crypto Scam: Feds Seize $112 Million Related to Digital Asset Con Job, Targets Were Enticed to Make Investments on Fake Crypto Exchanges

  Crypto Con: “Sha Zhu Pan” or pig butchering in Chinese Fraudsters and crooks tend to rehash their scams over time; the only thing that changes is the technology and tools utilized to separate money from the unsuspecting. Yesterday, the US Department of Justice (DOJ)… Read More

Australia: Commonwealth Bank (CBA), Telstra to Protect Clients from Phone Scams

The Commonwealth Bank (CBA) and Telstra announced a new pilot to help protect their customers from phone scams. Scam Indicator, currently in proof-of-concept stage and to be piloted over the next few months, will help “protect joint CBA and Telstra customers from phone scams where… Read More

Rug Pulls, Exit Scams Are an Ongoing Criminal Scheme in Web3: Report

Exit scams, popularly referred to as rug pulls, are “an ongoing criminal scheme in Web3,” according to an update shared by CertiK. CertiK writes in a blog post that a rug pull “involves fraudsters robbing a crypto project by liquidating their holdings without warning and… Read More

NatWest Limits Cryptocurrency Payments

NatWest is increasing customer protection against crypto-criminals “after £329m was lost by consumers last year.” A daily limit of £1000 and a 30-day payment limit of £5000 to cryptocurrency exchanges is being “implemented to help protect customers losing life changing sums of money.” Cryptocurrency investments… Read More

Commonwealth Bank in Australia Is Introducing Anti-Scam Features to its Financial Services Apps

Commonwealth Bank is rolling out new features for its widely used banking apps “aimed at combating the plague of scammers ripping off Australians.” From late March, the app will “indicate whether the name and account details customers have entered are correct when they make payments… Read More

SIM Swap Scam: Court Orders Crypto Criminal to Repay $20 Million to Michael Terpin, Attorneys Reaffirm Lawsuit Against AT&T

The long saga of Michael Terpin’s battle against SIM Swap fraudsters and allegations that AT&T shoulders much of the blame, saw one chapter closed this past week as the courts ordered perpetrator Nicholas Truglia (25) to repay $20.379 million Terpin. He has also been sentenced… Read More

SIM Swap Perp Gets 18 Months in Prison for Stealing $20 Million of Crypto, Ordered to Pay Restitution in 2 Months

SIM Swap perpetrator Nicholas Truglia has been sentenced to 18 months in prison and ordered to pay $20,379,007 in restitution to the victim of his cryptocurrency theft. Truglia is required to repay the victim within 60 days. Truglia was sentenced yesterday by US District Judge… Read More

Global Crypto Ponzi: SEC Files Charges Against Trade Coin Club Creator, Promoters

The Securities and Exchange Commission (SEC) has filed charges against the creator and promoters of the Trade Coin Club, which is described as a “global crypto Ponzi scheme.” According to the SEC, the alleged ponzi scam raised $295 million from more than 100,000 investors around… Read More

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