Tagged: scams

November 30, 2023 @ 7:36 pm By Omar Faridi  |  

TRM Labs, the enabler of blockchain intelligence solutions, and Australian crypto exchange Swyftx, launched a world-first trial today that “will pay crypto users to protect themselves against fraudsters through training and by enabling stronger security features to protect their accounts.” The program offers AUD $10… Read More

November 22, 2023 @ 11:08 am By Omar Faridi  |  

Revolut Head of Financial Crime is warning consumers to “stay vigilant amidst surging frauds this sale season as e-commerce scams such as fake websites become increasingly sophisticated.” Revolut’s single use virtual disposable cards, which “protect shoppers’ card details so they are never shared with vendors,… Read More

November 21, 2023 @ 9:04 am By Omar Faridi  |  

Tether, the largest company in the cryptocurrency ecosystem, and leading global crypto exchange and Web3 technology company OKX, announced that they have assisted the United States Department of Justice (DOJ) in an investigation that “led to Tether proactively and voluntarily freezing approximately 225 million in… Read More

November 13, 2023 @ 8:52 am By Omar Faridi  |  

A growing number of British investors risk being defrauded by a wave of fake adverts posted on social media, according to a new a warning issued by Lloyds Bank. The number of cryptocurrency investment scams reported1 “by victims so far this year has risen by… Read More

October 19, 2023 @ 8:15 am By Omar Faridi  |  

The most common scams this year have been revealed – “with more than seven in 10 adults targeted by scams in the last 12 months, being hit on average three times each week – over 150 times a year.” Scams through digital platforms, social media… Read More

October 13, 2023 @ 1:59 pm By Omar Faridi  |  

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

October 12, 2023 @ 11:25 pm By Omar Faridi  |  

Carefull, an AI-powered financial safety platform that helps banks and wealth advisors protect aging customers from scams and money mistakes, announced that it has closed its Series A round with $16.5 million in funding. The investment round was “led by Fin Capital and joined by… Read More

October 10, 2023 @ 11:15 pm By Omar Faridi  |  

Hong Kong’s authorities have claimed that 11 of the city’s Binance clients had been targeted in a series of phishing scams that were reportedly carried out via text messages. Hong Kong law-enforcement agencies have cautioned users of the scam as part of an October 9,… Read More

September 27, 2023 @ 9:24 am By Omar Faridi  |  

JPMorgan‘s (NYSE: JPM) UK-based retail bank Chase has reportedly decided to ban crypto-related transactions that are made by its clients, starting from October 16, 2023. This bank says it made the decision because of a significant rise in fraudulent activities and scams. A bank representative… Read More

September 24, 2023 @ 10:24 pm By Omar Faridi  |  

Metro Bank’s ‘Scam of the Month’ for September 2023 is a warning to drivers about the influx of second-hand car scams “as approximately a million drivers take possession of their new 73 licence plate cars from September.” Purchase scams can take many forms; “with the… Read More

September 18, 2023 @ 8:45 am By Omar Faridi  |  

The scams deluge that flourished during the COVID-19 pandemic and proliferates yet today has heightened the public’s fraud anxiety. Rampant fraud is also “reshaping individuals’ expectations about organizations’ obligations to protect them – and the compromises they are willing to make to enhance security” –… Read More

September 7, 2023 @ 11:37 am By Omar Faridi  |  

China’s cryptocurrency crackdown continues as Weibo has reportedly banned around 80 crypto influencers. Weibo’s management stated that these decisions were made in order to comply with domestic regulatory requirements, which aim to discourage speculation, trading, and promotion of digital currencies. The Beijing-headquartered company said that… Read More

September 6, 2023 @ 11:31 am By Omar Faridi  |  

In a weekly update, SlowMist reveals that there were approximately $830,000 that were lost in Web3 security incidents. According to statistics from SlowMist’s Blockchain Hacking Archive, from August 28 to September 3, 2023, there were “a total of 7 security incidents, resulting in an estimated… Read More

July 13, 2023 @ 9:10 am By Omar Faridi  |  

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

July 13, 2023 @ 7:46 am By Omar Faridi  |  

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

July 7, 2023 @ 3:59 pm By Omar Faridi  |  

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

July 4, 2023 @ 7:19 am By Omar Faridi  |  

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

June 17, 2023 @ 4:10 pm By Omar Faridi  |  

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

June 3, 2023 @ 6:07 am By Omar Faridi  |  

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

May 31, 2023 @ 7:08 pm By Omar Faridi  |  

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