Category: Fraud

Visa
October 24, 2024 BY Sam Boughedda

Worldline Partners with Visa to Enhance Fraud Management Solution

The global payment services provider explained in its press release announcing the deal that the collaboration combines Worldline's extensive transactional data with Visa's Cybersource Decision Manager, offering businesses a powerful tool to combat fraud and optimise customer experiences. The partnership is said to be particularly beneficial for the travel industry, where both Worldline and Visa…

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ASIC ban
October 15, 2024 BY Sam Boughedda

ASIC Warns of 'Significant Increase' in Reports of Stolen Shares

The regulator explained in a release that fraudsters are impersonating individuals and stealing their shares, often leaving victims unaware until they receive unexpected notifications from share registries or the Clearing House Electronic Subregister System (CHESS). According to ASIC, there has been a significant increase in reports of stolen shares since August 2024. The regulator said…

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October 07, 2024 BY Sam Boughedda

Revolut Calls for Meta Platforms to Reimburse Fraud Victims

According to Revolut's Consumer Security and Financial Crime Report, Meta platforms remain the primary source of scams reported to the company, accounting for 62% of all scams in the first half of 2024. They stated that Facebook was the most common source, followed by WhatsApp and Telegram. Revolut is concerned that Meta's data-sharing partnership primarily…

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April 24, 2024 BY Elizabeth Anderson

Indian Regulator Looks at Adani Stock Manipulation

According to a Bloomberg report, SEBI acted against a pair of foreign portfolio investment firms. The first allegedly engaged in shorting shares of Gautam Adani’s companies after it became aware of the publication of a short-seller report from Hindenburg Research, based in the US. When this report came to light in January 2023, it decreased…

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April 17, 2024 BY Elizabeth Anderson

René Benko Under Investigation For Fraud

According to an Austrian Broadcasting Corporation (ORF) radio report, Benko allegedly deceived a local bank about the financial standing of Signa in renewing a €25m loan. Reuters reported that the property tycoon’s lawyer, Norbert Wess, confirmed this investigation and said that Benko was notified “some time ago”, but maintains that the accusations are “unfounded”. The…

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crypto
October 05, 2023 BY Elizabeth Anderson

Cryptocurrencies sliding in the face of rising US bond yields and overbought signals

Bitcoin was not the only cryptocurrency experiencing a decline. Ethereum also missed the mark, sliding below the $1,650 level. The global crypto market cap suffered a 0.89% blow, bringing its total value to approximately $1.08tn. Surprisingly positive results from the Job Openings and Labor Turnover Survey (JOLTS) strengthened 10-year bond yields, which are experiencing the…

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September 20, 2023 BY Elizabeth Anderson

Lawyers plead for Bankman-Fried release from jail before trial

This included sharing the personal correspondence of Caroline Ellison, former chief executive officer (CEO) of the Alameda Research hedge fund, with the New York Times. Ellison, who was romantically involved with the self-proclaimed cryptocurrency king, admitted to fraud and is a key witness in the case against Bankman-Fried.  The Manhattan U.S. Attorney and lawyers for…

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Thailand Vs. Facebook: crypto scams and fraud
August 22, 2023 BY Elizabeth Anderson

Thailand Vs. Facebook: crypto scams and fraud

On 21 August in Bangkok, Southeast Asia’s second-largest economic hub, Thailand’s Digital Minister, Chaiwut Thanakamanusorn, stated: We are asking the court to close Facebook, not allowing it to provide services in Thailand if they let these fake pages scam people. They can’t do business like this. This reaction followed claims that over 200,000 people in…

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Fake announcement on London Stock Exchange triggers call to FBI
August 15, 2023 BY Elizabeth Anderson

Fake London Stock Exchange announcement triggers call to FBI

The questionable news snippet surfaced via EQS, a German-based outfit that reports on financial news. It alleged that Ripplewood, an established New York-based investment company, wanted to source ChatGPT technology to plot market trends and drive investment decisions. An extract from this news release read: “Through the use of artificial intelligence, investors should benefit from…

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