News Topic: fraud

As large banks put stronger fraud monitoring and authentication technology in place, fraudsters have been turning to small banks, like Kennebunk Bank on the coast of Maine. Here's how it fought back. ... Read full article

A California man who says he unwittingly helped Russia conduct a disinformation campaign on social media before the 2016 U.S. presidential election has been sentenced to six months in prison and another six months of home confinement. ... Read full article

The roster of of potential witnesses at the trial of President Trump's former campaign manager includes current and former employees of Citizens Financial Group, Banc of California and The Federal Savings Bank. ... Read full article

Dan Heine and Diana Yates were accused of hiding Bank of Oswego's condition by inaccurately reporting bad loans. ... Read full article

Kam Wong, chief executive at the high-profile, $2.9 billion credit union that serves the NYPD, among other municipal workers, has been charged with fraud. ... Read full article

The Russia probe puts a national spotlight on a Chicago bank exec; CFPB's Mulvaney and Sen. Warren face off (again) while a credit union CEO takes a surprising position on the industry's tax exemption. ... Read full article

A sophisticated campaign by Russian actors seeking to manipulate the 2016 U.S. presidential election through social media included stealing the identities of Americans and using accounts at PayPal to aid their effort. ... Read full article

Tim Sloan told investors Tuesday that Wells could uncover more examples of financial harm to its customers as part of its ongoing review of its sales practices. ... Read full article

Some bankers fear the use of artificial intelligence in detecting crime could catch innocent customers in a dragnet. Proponents say it can do a better job of spotting true criminals. ... Read full article

Despite assurances that the Department of Justice crackdown on banks' third-party relationships is ceasing, lawmakers say it is still having an impact. ... Read full article

U.S. banks face a tricky calculus in deciding whether to adopt expensive technology aimed at reducing online fraud. ... Read full article

The U.S. government ordered Wells Fargo to reinstate a former bank manager who was fired after reporting suspected illegal behavior to his superiors and a company hotline. ... Read full article

The Wells Fargo fake accounts scandal is shining such a bright spotlight that more pervasive problems with the industry’s sales practices are getting lost in the shadows. ... Read full article

The company, which provided few details about the possible fraud, plans to hold a conference call Friday. ... Read full article

The latest cyberattacks on banks (and others including the Democratic National Committee) can no longer be found by traditional means, as they lurk in memory and necessary computing tools. ... Read full article

Barry Bekkedam was also fined $100,000 for a failed effort to bring in Tarp funds before NOVA failed in 2012. ... Read full article

Western Union received more than half a million consumer fraud complaints between 2004 and 2015. Authorities said that a relatively small number of company agents handled a large share of the illegal transactions ... Read full article

The global money transmitter will pay $586 million and implement an anti-fraud program in order to resolve allegations that it enabled widespread misconduct by some of its employees. ... Read full article