Category: Fraud
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US co Chainalysis buys Israeli fraud detection co Alterya
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US blockchain giant Chainasis has announced that it has acquired a Tel Aviv-based startup Alteria. This is the company’s second acquisition in Israel after its acquisition of Hexagate last month. Chainalogy will pay $160 million for Alterya. Alterya was founded in 2022 by CEO Elad Fox and CTO Shahav Gonen.…
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California Man Sues Three Asian Banks Over $1 Million Crypto Fraud Loss – Who’s to Blame?
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A California man, Ken Lim, has taken legal action against three prominent banks in Asia — Fubon Bank, Chung Hing Bank, and DBS Bank — for allegedly facilitating a $1 million cryptocurrency scam. the lawsuitfiled in a California District Court on December 31, 2024, alleges that these banks failed to…
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How Machine Learning Enhances Fraud Detection in Online Gambling Platforms
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Online gambling has seen tremendous growth over the past decade, becoming a multi-billion dollar industry. However, with its rapid expansion comes an increasing risk of fraud. From identity theft and account takeovers to bonus abuse and money laundering, gambling platforms face constant threats. Effectively combating this type of fraud requires…
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JPMorgan, Wells Fargo, BofA facing federal lawsuit over Zelle payment network fraud
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A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, alleging that the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular payments network Zelle, in violation of consumer financial laws. In the federal civil complaintThe Consumer Financial Protection Bureau…
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Ecommerce fraud protection co Justt raises $30m
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Israeli fintech company exactly The company announced the completion of a $30 million Series C financing round, which will allow it to further expand its activities in protecting businesses from unwarranted cancellation of transactions. The current funding round was led by Zeev Ventures with participation from existing investors Oak HC/FT…
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Brooge Energy investors file fraud complaint against Ernst & Young
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Written by Anna Hertenstein (Reuters) – Some Brooge Energy shareholders have filed a fraud complaint in the United States against Ernst & Young, alleging that an auditor failed to identify fabricated revenues in two years of the oil storage company’s annual reports. The plaintiffs are Stephen Cannon, Bryant Edwards, and…
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Celsius Founder Alexander Mashinsky Pleads Guilty To $4.7 Billion Fraud Charges
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Alexander MashinskyThe former CEO of now-bankrupt cryptocurrency lender Celsius has pleaded guilty to two counts of fraud, and faces a possible maximum sentence of 30 years in prison. This development comes on the heels of multiple charges filed by the US Department of Justice (DOJ), which originally charged him with…
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Death sentence for real estate tycoon Truong My Lan upheld in Vietnam’s largest fraud case
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Breadcrumb links PMN BMN Business Article writer: Associated Press Anirudh Ghosal Published on December 3, 2024 • 2 min read You can save this article by registering for free here. Or log in if you have an account. Article content HANOI, Vietnam (AP) — The death sentence for real estate…
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SEC Sues Touzi Capital Over $115 Million Securities Fraud
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The US Securities and Exchange Commission (SEC) has sued Touzi Capital LLC, a cryptocurrency mining company, and its managing member Eng Taing, for multiple securities law violations. The US securities regulator alleges that the defendants deceived investors out of funds worth up to $115 million. sik vs. Tozi Capital and…
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Walmart must pay a truck driver $35 million after firing him and accusing him of fraud after an accident
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Walmart must pay one of its former truck drivers $35 million after a jury found the retailer falsely accused him of workers’ compensation fraud. A San Bernardino County jury said in a two-part verdict filed last week that former Walmart driver Jesus “Jesse” Fonseca is owed… $25 million in punitive…
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India’s opposition protests against billionaire facing US bribery and fraud charges
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Breadcrumb links PMN PMN works Article writer: Associated Press Shonal Ganguly and Manish Swarup Posted on November 25, 2024 • 2 min read You can save this article by registering for free here. Or log in if you have an account. Article content NEW DELHI (AP) — Hundreds of supporters…
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Mozambique’s Ruling Party Wins Vote Tainted by Fraud Claims
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Breadcrumb links BMN Business The candidate of Mozambique’s ruling party has been declared the winner of the presidential election, as tensions over fraud allegations have put the southeast African nation on edge and sent its bonds plummeting. Article writer: Bloomberg News Matthew Hale and Borges Namier Published on October 24,…
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Mozambique’s Ruling Party Wins Vote Tainted by Fraud Claims
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Breadcrumb links BMN Business The candidate of Mozambique’s ruling party has been declared the winner of the presidential election, as tensions over fraud allegations have put the southeast African nation on edge and sent its bonds plummeting. Article writer: Bloomberg News Matthew Hale and Borges Namier Published on October 24,…
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From Russia With Fraud: ‘Crypto Queen’ Diverts Funds To Ukrainian Army
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A detained social media influencer could be headed to a Russian prison and remain there for nearly 10 years serving her sentence for committing cryptocurrency fraud. Valeria Fedyakina, dubbed the “Queen of Cryptocurrencies,” is at the center of multiple accusations of widespread fraudulent activities which have reportedly included… Financing the…
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Ex-Philippine Mayor Implicated In $30 Million Fraud
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Have crypto scammers infiltrated local government in Asia? The answer appears to be yes, as information has emerged linking a former Philippine mayor to a cryptocurrency scam group operating in Asia. This is an indication of growing concern about cryptocurrency scam rings in Southeast Asia and Hong Kong, which may…
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German National Accused Of $150 Million Crypto Fraud Evades Capture
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Horst Geisha, a German national accused of orchestrating a $150 million cryptocurrency fraud scheme, is on the run after failing to appear in federal court in Brooklyn. Gisha was reportedly under house arrest at his New York City home, after taking out a $5 million bond secured by his domestic…
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Telegram A Breeding Ground For Crypto Fraud, UN Says
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The United Nations recently released a surprising report stating that Telegram has emerged as one of the major applications A platform for criminal networks In Southeast Asia. These encrypted chatbots have become a hotspot for money laundering, fraud and the sharing of stolen data, according to the United Nations. The…
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Telegram A Breeding Ground For Crypto Fraud, UN Says
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The United Nations recently released a surprising report stating that Telegram has emerged as one of the major applications A platform for criminal networks In Southeast Asia. These encrypted chatbots have become a hotspot for money laundering, fraud and the sharing of stolen data, according to the United Nations. The…
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Citi pushes back on New York lawsuit over fraud scams, Bloomberg News reports By Reuters
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(Reuters) – Citigroup lawyers urged U.S. District Judge Paul Oetken to dismiss a lawsuit filed in January by Attorney General Letitia James, which accuses the Citibank unit of failing to compensate customers who fall victim to online scammers, Bloomberg News reported on Tuesday. The report added that the lawyers said…