fraud

Financial institutions, government still wary of crypto

09/29/20

Employees in the financial industry and public sector are considerably more worried about the risks posed by digital currency than those in the cryptocurrency field, a new survey finds.

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Banks report record spike in fraud as U.S. business aid flows

09/24/20

U.S. banks and credit unions reported skyrocketing levels of suspected business-loan fraud last month, a period that coincided with growing awareness of scams involving government small-business aid programs.

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Fincen plans major overhaul of anti-money-laundering rules

09/16/20

The Financial Crimes Enforcement Network is seeking to create a better-defined standard for effective AML compliance programs and is considering whether to impose formal requirements that banks assess their laundering risk.

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DOJ has filed over 50 PPP fraud cases

09/10/20

The 57 charges involve $175 million allegedly stolen from the small-business loan program. Defendants are accused of lying on their applications and using funds to buy cars, jewelry and other luxury items.

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JPMorgan probing employees’ role in misuse of COVID relief funds

09/08/20

The bank said the conduct includes “instances of customers misusing Paycheck Protection Program Loans, unemployment benefits and other government programs.”

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Heartland discloses delayed closing for AimBank acquisition

08/28/20

The Iowa company said the coronavirus outbreak and litigation against AimBank will postpone the deal's completion by a few months.

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In a digital world, regulators and innovators need to team up to beat fraud

08/28/20

Close collaboration between leading payment innovators and regulators could help regulators better understand the direction the industry is headed, says Arkose Labs' Vanita Pandey.

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Santander Bank ATMs hit with prepaid card fraud

08/19/20

Dozens of suspects were reportedly arrested for allegedly using prepaid cards to illegally withdraw large sums of cash.

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Spike in disputed payments causing headaches for card industry

08/12/20

Chargeback requests have surged since the start of the coronavirus pandemic, as airlines have canceled flights, performers have postponed concerts and supply chain disruptions have delayed the delivery of many goods.

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Former First NBC executives charged with fraud tied to bank's failure

07/14/20

Ashton Ryan, the New Orleans bank's CEO, and two other officers are accused of disguising the financial condition of certain borrowers before the bank's 2017 collapse.

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