Browsing: scheme

Key insight: Beyond courier scams, banks are battling “card cracking” schemes where fraudsters solicit credentials from young users on social media to deposit worthless checks.Expert quote:…

Key insight: The conspiracy used “Ploutus” malware to force ATMs to dispense cash without debiting accounts, specifically targeting older Diebold Nixdorf terminals.What’s at stake: Prosecutors allege…

Key insight: St. Louis fraudster combined a decades’ old scam with modern technology to abscond with $6 million from banks.What’s at stake: Bank fraud works because…

Key insight: The DOJ seized a domain used by a Myanmar-based syndicate, marking the first major victory for the new Scam Center Strike Force.Expert quote: “American…

Key insight: A Luxembourg court ruled HSBC owes restitution to a Madoff investor fund, finding the bank was negligent in its custodial role.Supporting data: The $1.1…

The Home Guarantee Scheme is a federal government initiative that has helped hundreds of thousands of home buyers get into their own homes. It’s administered by Housing…

Key insight: The case against Berkshire Bank, which includes unusually detailed allegations, represents the latest test of the law in cases where bank customers commit fraud.Supporting…

First Northwest Bancorp CEO Matthew Deines rejected claims his company participated in a $100 million Ponzi scheme. Sean Gladwell/Getty Images/Hemera The CEO of First Northwest Bancorp…

A former executive at the O’Fallon, Illinois-based Bank of O’Fallon this week pleaded guilty to check kiting and investment fraud from which he gained more than…

Pump-and-dump scheme: What it is and how to avoid one Source link