The banking industry and its regulators need to acknowledge the danger presented by ultrarealistic deepfake technology and implement new layers of transaction authentication, writes Shivani Deodhar, of BNP Paribas, in American Banker’s BankThink.Adobe Stock In early 2024, a Hong Kong-based multinational was defrauded of $25 million after an employee was tricked into joining a video
A Newport Beach attorney who admitted that she swindled investors out of $8.7 million in order to bankroll her lavish lifestyle and high-rolling gambling habit was sentenced Monday, May 5 to one year and nine months in federal prison. A luxuriant lifestyle of high-end jewelry, luxury cars, a six-month stay at a opulent Las Vegas
(WOWT) – Nebraska Attorney General Mike Hilgers is reporting a surge in romance scams and cryptocurrency-based investment fraud. In a release sent Wednesday, AG Hilgers’ office says they have received reports of multiple victims losing up to six-figure sums in cryptocurrency scams. Officials say Nebraskans are being targeted by scammers and encouraged to make small,
HIGHLIGHTS The victim was added to a Telegram group where people appeared to be discussing cryptocurrency investment opportunities A woman from the group contacted the victim and assured him that he could earn high profits on investments in cryptocurrency. Believing her, the man first invested Rs 10,000. In today’s
What is cryptocurrency? How it works Cryptocurrency is a form of digital currency that uses cryptography for security and operates independently of central banks. Springfield, Missouri, police received reports of over $1.2 million in cryptocurrency scam losses in 2024, with only $109,000 recovered. Police warn residents to be aware of common scam tactics like guaranteed
President Trump has pardoned a Las Vegas politician convicted last year of using money meant for a statue honoring a slain police officer on personal costs, including plastic surgery. Michele Fiore, a former city councilwoman and Nevada state lawmaker, was found guilty in October of six counts of federal wire fraud and one count of
WASHINGTON — New York Attorney General Letitia James — who infamously declared that “no one is above the law” when she was targeting Donald Trump — was hit with a federal criminal referral for instances of alleged mortgage fraud on Tuesday, according to a letter obtained by The Post. Federal Housing Finance Agency (FHFA) Director William
The Department of Health and Human Services (HHS) cut a little-known bureau in its ranks that was trying to recoup more than $1 billion in improper payments dispersed to providers during the COVID-19 pandemic. The Trump administration announced the dismantling of the HHS on March 27. HHS Secretary Robert F. Kennedy Jr. told the public
Cryptocurrency scams cost Americans more than $5.6B last year: FBI The FBI announced on Monday, Sept. 9, that Americans lost more than $5.6 billion in cryptocurrency scams in 2023. Straight Arrow News An Athens man lost over $70,000 in an alleged cryptocurrency scam orchestrated through a relationship formed on Instagram. The victim was initially led
Mfundo Manci pleaded guilty to multiple charges on behalf of himself and his company, Crypto Mzansi Group (PTY) LTD. A 33-year-old cryptocurrency fraudster has been sentenced to ten years for defrauding and misleading clients by promising high returns. Mfundo Manci appeared in the Durban Specialised Commercial Crimes Court on Tuesday, where the sentence was handed