Tagged: scams

Financial Crime: UK’s Starling Bank Explains How to Deal with Scam Artists and Fraudsters Online

The team at digital bank Starling asks whether you’ve every agreed to plans for something you “really didn’t want to do.” The UK-based banking challenger also asks whether you’ve “walked down the high street and been unable not buy something from that fast-talking street vendor.”… Read More

Eastern Europe Ranked Third Globally for Overall Exposure to Illicit Activity Involving Cryptocurrencies: Report

Eastern Europe has one of the largest cryptocurrency economies in the world. A recent report reveals that it’s the third-ranked global region for “overall exposure to illicit activity.” Eastern Europe is the only world region with a total transaction volume of $400 million+ for which… Read More

Qtum Blockchain Developers Reveal How Scammers, Imposters Target Unsuspecting Crypto Users Online

The team and developers at blockchain platform Qtum (QTUM) recently noted that their official Telegram channel is one of their “most popular” social media sites. Qtum wrote in a blog post that it’s great for chatting and troubleshooting with their knowledgeable administrators. Unfortunately, however, this… Read More

Astra Protocol, which Offers Legaltech for Crypto, Reports Significant Increase in DeFi Hacks, Fraudulent Activities

The team at Astra Protocol, which aims to equip the decentralized finance (DeFi) space with a complete legal layer and unlock the future growth of the industry, notes that operating within DeFi comes with “unpredictability” as well as key opportunities. Some of the main benefits… Read More

Polish Fraud Prevention Firm Nethone, which Uses Behavioral Biometrics to Combat Fraud, Secures $6.7M

Nethone, which has raised $6.7 million in capital, notes that its passive behavioral biometrics enables online or digital businesses to prevent more than 95% of account takeovers (ATO) – which are cyber threats or attacks that have been spreading across the globe at an alarming… Read More

European Transactional Service Worldline Partners Microsoft to Enable Fraud Protection for E-Commerce Payments

Worldline (Euronext: WLN), the European leader in payments and transactional services firm, has teamed up with Microsoft (NASDAQ: MSFT) in order to integrate Dynamics 365 Fraud Protection into Worldline’s digital commerce payments solution. Online fraud has increased considerably during the COVID-19 crisis and resulting economic… Read More

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

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, 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

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 Reports that 70% of Automated Push Payment Scams Originated via Online Platforms

UK Finance, a trade association for the UK banking and financial services sector (representing around 300 local companies offering credit, banking, markets and payment-related services), has shared an analysis of almost 7,000 authorized push payment (APP) scam incidents. The analysis reveals that around 70% of… Read More

Kava Labs, which Focuses on Democratizing Financial Services, Establishes Security of Assets Fund for Users

Brian Kerr, Co-founder of Kava, has published a blog post in which he revealed that his team is introducing the Kava SAFU Fund (Security of Assets Fund for Users). Kerr noted in the update, dated Wednesday (April 28, 2021) that Kava SAFU Fund is an… Read More

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

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

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

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

Bridge Mutual, a “Decentralized” Discretionary Risk Coverage Platform for DeFi, to Make it Easy to Acquire Insurance Coverage for Assets

With over $40 billion locked into decentralized finance (DeFi) platforms (at the time of writing), according to DeFi Pulse data, it’s now clear that the era of DeFi has arrived, crypto analysts have argued. However, with many new exploits frequently taking place, there’s been significant… Read More

Top Crypto and Blockchain Predictions for 2021 and Beyond – Part 1

Bitcoin (BTC) and other cryptocurrency platforms such as Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Binance Coin (BNB), Chainlink (LINK), and Polkadot (DOT) are being increasingly adopted by a diverse group of users across the globe. Many more institutions and fairly large publicly listed companies… Read More

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

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

YouTube related Cryptocurrency Scams are on the Rise, Gemini Security Team Reveals

The Security team at Gemini Trust Company, LLC (Gemini), a digital currency exchange and custodian, has revealed that they’ve seen a significant increase in the number of crypto-related scams, as virtual currencies continued to gain popularity over the past year. Gemini Security explains that scams… Read More

UK’s FCA Issues Warnings about Loan Fee Fraud, Cryptoassets-related and Coroanvirus Scams, especially During Holidays

The UK’s Financial Conduct Authority (FCA) has issued “Three Wise Warnings” for the nation’s consumers. The financial regulator has cautioned that customers should look out for loan fee fraud this Christmas or holiday season. The FCA notes that if you’ve been asked to pay some… Read More

Between May 2019 and September 2020, Belgian Securities Regulator Estimates €10 Million Lost by Individuals Due to Bogus Trading Platforms Including Crypto

The Belgian Financial Services and Markets Authority (FSMA) estimate that from May 2019 to September 2020, around €10 million was lost by investors who were scammed by bogus trading platforms – including cryptocurrency offerings. Belgium is a country with a population of around 11 million… Read More

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