fraud

New indictments issued in case of failed Chicago bank

03/01/21

Four former employees and several clients of Washington Federal Bank for Savings face charges of falsifying records to conceal the embezzlement of $31 million prior to the bank's December 2017 collapse.

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SVB discloses potential fraud tied to $70M loan

02/26/21

The California company said the issue involves a line of credit it funded earlier this year and that it is working with law enforcement authorities on the matter.

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Greek gang foiled after $14.4 million fraud attack on U.S. banks

02/04/21

A Greek-led organized crime group that stole more than $14.4 million from U.S. banks has been dismantled in a cross-border operation by three international law enforcement agencies.

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Equifax to tackle e-commerce fraud with $640M Kount deal

01/08/21

The credit reporting firm has been building out its identity and fraud protection business for existing customers, which include many of the world’s largest banks and telecommunications companies.

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Synthetic identity fraud risks on the rise for credit unions

11/16/20

New analysis from SentiLink showed that the industry may be more vulnerable to some fraud threats than it realizes.

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Can credit unions keep up with COVID's evolving phishing threats?

10/30/20

Fraudsters have increased their attempts to steal data through email scams since much of the financial services sector moved to remote work when the pandemic began.

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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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