New indictments issued in case of failed Chicago bank


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.


SVB discloses potential fraud tied to $70M loan


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.


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


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.


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


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.


Synthetic identity fraud risks on the rise for credit unions


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


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


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.


Financial institutions, government still wary of crypto


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.


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


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.


Fincen plans major overhaul of anti-money-laundering rules


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.


DOJ has filed over 50 PPP fraud cases


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.