PYMNTS

NOVEMBER 2, 2018

1) that a probe by international auditors is underway, examining a fraud that could be $200 million in scope at Aegean Marine Petroleum Network , tied to shell companies that ostensibly did business with the shipping fuel firm. News came Thursday (Nov. The Email Scam Lures More Victims. A Bit Of Victory. Procards Get Auditor’s Scrutiny.

Fraud 168

Fraud Company Massachusetts United States 168

PYMNTS

JANUARY 12, 2021

And in Florida, state and local officials in 18 counties last month broke up a ring that allegedly stole nearly $85,000 of easy-to-resell items like baby formula, diapers, and energy drinks from Publix, Winn Dixie, and Walmart — typically taking $350 to $900 worth of goods at a time. A Growing Problem. Matas sees the current wave of U.S.

Retail 226

Retail Florida San Francisco Sacramento 226

PYMNTS

NOVEMBER 16, 2020

Such security methods can be critical to preventing fraud that targets mobile users, of which one of the most prevalent types is SIM swap fraud. Preventing SIM swap fraud requires vigilance and ironclad authentication methods to ensure that users who are asking to transfer their phone numbers are legitimate rather than scammers.

Fraud 178

Fraud US Mobile Las Vegas 178

PYMNTS

OCTOBER 3, 2016

In 2010, Westernbank Puerto Rico, the country’s second-largest commercial bank, took a loss of more than $140 million on loans to a Florida businessman, 53-year-old Jack Kachkar, which contributed to its failure, according to the FDIC’s inspector general. Kachkar used his pharmaceutical company, Inyx Inc., million Miami Beach home.

Puerto Rico 133

Puerto Rico Fraud Miami Florida 133

PYMNTS

SEPTEMBER 30, 2020

Securities and Exchange Commission (SEC) claims that a Florida digital currency trader purportedly bilked customers out of $6.8 million, CoinDesk reported. The agency claimed that the defendant scammed investors between January 2018 and January 2019 as he purported to never finish a trading day with losses.

Florida 151

Florida Lending blockchain National 151

PYMNTS

APRIL 23, 2020

The health insurance market is even more vulnerable: Up to $68 billion is lost to health insurance fraud each year. Fraud doesn’t just hurt insurance companies, however, as the losses are largely passed on to legitimate customers in the form of increased premiums. Types of Insurance Fraud. How AI Can Limit Insurance Fraud.

Fraud 151

Fraud Company System Examples 151

PYMNTS

JUNE 27, 2019

One small Florida city has had to pay cybercriminals thousands of dollars in ransomware. The week before, Riviera Beach, a Florida city of about 34,000, agreed to allow its insurance carrier to pay about $600,000 during its own cyberattack — nearly 12 times the size of the ransomware the city of Atlanta refused to pay last year.

Florida 100

Florida Jacksonville Atlanta Training 100

PYMNTS

MARCH 8, 2019

Ignatov is from Bulgaria and was charged with wire fraud conspiracy. His older sister Ignatova, also from Bulgaria, was charged with wire fraud, and also securities fraud and conspiracy. The scheme amounts to fraud, prosecutors say. He was arrested on Wednesday (March 6) at LAX. Much of the money they received (about $1.2

Fraud 123

Fraud Las Vegas cryptocurrency United States 123

PYMNTS

NOVEMBER 14, 2016

prosecutors late last week charged a Florida man in connection with an illegal bitcoin exchange. According to a report by Reuters , Ricardo Hill, 38, was arrested in Florida in October and charged with conspiring to operate an unlicensed money transmitting firm. Prosecutors contend Coin.mx

Florida 100

Florida Bitcoin Course Operations 100

American Banker

MAY 28, 2024

Early Warning, which operates the payment network, says the rate of reported fraud is less than a tenth of one percent. Yet stories of consumers who have fallen victim to scams and lost money as a result abound.

Fraud 83

Fraud Florida Operations Report 83

PYMNTS

OCTOBER 23, 2017

A software engineer from Florida was slapped with a 16-month prison term late last week after a court found him guilty of scamming to aid an illegal bitcoin exchange. In November, Ricardo Hill , who was arrested in Florida a month prior, was also charged with conspiring to operate an unlicensed money transmitting firm.

Florida 100

Florida Bitcoin New Jersey Software 100

PYMNTS

MARCH 3, 2020

The couple are basing their case on a unanimous decision by the Supreme Court in 2017 that curbed the SEC’s ability to seek profits from fraud before charges are filed by authorities. In 2019, the SEC told a Florida federal judge to compel alleged Ponzi scheme defendants to give back $892 million in profits.

Fraud 130

Fraud Florida California Security 130

PYMNTS

MARCH 3, 2020

The couple are basing their case on a unanimous decision by the Supreme Court in 2017 that curbed the SEC’s ability to seek profits from fraud before charges are filed by authorities. In 2019, the SEC told a Florida federal judge to compel alleged Ponzi scheme defendants to give back $892 million in profits.

Fraud 130

Fraud Florida California Security 130

PYMNTS

FEBRUARY 24, 2020

But even restaurants that are leveraging mobile ordering are being faced with more avenues for fraud to enter. The partnership was first launched at Publix’s Orlando, Florida-based stores, with the service planned to expand to the chain’s other locations over the next few months. Mobile Order-Ahead Developments. About the Tracker.

Data 214

Data Fraud Mobile Florida 214

PYMNTS

JULY 27, 2016

Credit card fraud complaints in the U.S. ValuePenguin analyzed data collected by the Consumer Financial Protection Bureau and found that there were approximately 70,000 credit card fraud complaints submitted in 2015. At the state level, the number of credit card fraud complaints were much more pronounced. Across the U.S.,

Fraud 100

Fraud Cards South Dakota West Virginia 100

PYMNTS

OCTOBER 16, 2019

Concerns over security breaches and data privacy remain high, however, so providers will need to be sure users are properly protected from all manners of fraud as this ecosystem grows. There were 760 million fraud events for IoT devices using a single protocol this year, according to one recent study. About the Tracker.

Millennials 191

Millennials Fraud social media Study 191

PYMNTS

JULY 17, 2017

Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I Classic fraud deflection is rules-based. Fraud is dynamic. The Many Faces of Fraud.

Fraud 109

Fraud Data Delaware New York City 109

PYMNTS

OCTOBER 26, 2017

And in New Mexico, two Santa Fe government employees were placed on leave following a report that fraud is running rampant in their department. Internal fraud is, unfortunately, an all-too-common problem for businesses and government entities, especially with regards to misuse of p-cards. Fraud doesn’t happen here,’” he explained.

Fraud 108

Fraud Payments Cards Policies 108

PYMNTS

OCTOBER 7, 2016

They were forced to upgrade to expensive machines that reduce fraud but don’t eliminate it. The lawsuit, brought by four grocery stores in California, Florida and New York, calls it an industry conspiracy that violates fair trade practices. If they don’t upgrade, they’re penalized by the credit card companies.

Cards 173

Cards California US United States 173

PYMNTS

APRIL 12, 2017

Identity company MorphoTrust USA looks to put a dent in tax fraud and theft by adding an additional layer of authentication security into the mix. Recently, for instance, experts found a scammer selling 3,600 Florida W-2 forms on the dark web after phishing a tax preparation firm.

Alabama 101

Alabama Taxes Fraud Florida 101

PYMNTS

SEPTEMBER 23, 2019

As we noted in the recent Digital Banking Tracker, the CNP fraud has taken a leg down in favor of fraud that looks to snag credit card numbers. Check Fraud, Too. In another example of decidedly low-tech fraud, in Oklahoma, a woman recently sentenced to prison stole $400,000 from her employer through signed paper checks.

Cards 124

Cards Data Florida Fraud 124

PYMNTS

JUNE 9, 2020

As much as 22 percent of consumers have now been targeted by COVID-19 digital fraud scams, driving a mounting need for new ways to mitigate digital fraud risks. Cybercrime is surging during the COVID-19 pandemic as fraudsters seize on increased online activity to steal consumers’ sensitive personal details.

Online 195

Online Report Compliance Fraud 195

PYMNTS

AUGUST 12, 2020

As part of its ongoing efforts to stop coronavirus-related fraud, the U.S. The enforcement action alleged Vietnam residents Thu Phan Dinh, Tran Khanh and Nguyen Duy Toan engaged in wire fraud to profit from the pandemic. Last week, SocialCatfish.com , an identity verification nonprofit, reported U.S.

Fraud 130

Fraud Pennsylvania Florida Texas 130

PYMNTS

DECEMBER 28, 2020

Many CUs have since leaned into these efforts with digital innovations aimed at a range of issues, such as tackling fraud or enhancing members’ remote banking access. It also offers participating CUs customized consulting services.

North Carolina 197

North Carolina Houston Fraud Innovation 197

PYMNTS

JANUARY 1, 2021

In other news, Miami Mayor Francis Suarez, a nonstop social media cheerleader for the notion of building a high-tech ecosystem in South Florida, publicly embraced exploring using cryptocurrency to store some government financial reserves and blockchain to secure processes such as online voting. AMBCrypto reported Wednesday (Dec.

Miami 201

Miami Bitcoin cryptocurrency Florida 201

PYMNTS

MARCH 6, 2019

In the March Credit Union Tracker , PYMNTS explores how credit unions (CUs) and credit union service organizations (CUSOs) are working to cater to the unique financial needs of their members, while also focusing on continually combating fraud. PSCU is one CUSO focused on proactively fighting fraud. Around the Credit Union Landscape.

Fraud 134

Fraud Security Resources Florida 134

PYMNTS

SEPTEMBER 15, 2020

Three individuals from Texas and one individual from Florida were named as defendants. District Court against four people for allegedly “fraudulently soliciting funds” from individuals to attempt to wager on changes in the price of bitcoin, according to a press release.

Bitcoin 238

Bitcoin Texas blockchain Florida 238

PYMNTS

MAY 28, 2020

MarketWatch, quoting a local Florida news station, reported on one couple that, thinking the card was fake, cut it up into pieces and threw it away. The press release states that the cards provide protection against fraud and loss, similar to the protections afforded to traditional bank cardholders.

Cards 172

Cards Florida ATM Fraud 172

PYMNTS

NOVEMBER 20, 2018

The majority of the money was wired from Swiss bank accounts to Florida, noted the report. Gorrin, who is 49, is accused of buying jets, yachts, champion horses and luxury watches in Florida and Texas with the ill-gotten gains. Reuters noted that Gorrin’s whereabouts aren’t clear.

Florida 161

Florida Texas Operations Report 161

PYMNTS

JUNE 29, 2020

The lawsuit goes back to October 2017, when Boston law firm Block & Leviton said it was looking into securities fraud by the Tezos ICO. Block & Leviton, which specializes in securities cases, sued the firm, and it wasn’t the only entity to do so — cases were filed in California and Florida courts around the same time.

blockchain 168

blockchain Security Bitcoin Boston 168

Abrigo

MARCH 22, 2023

For instance, a TBML case was identified where illicitly obtained funds were sent from Africa (Nigeria/Benin) to purchase cars from used auto dealers in the Midwest U.S.

Training 195

Training Fraud New Jersey Regulation 195

PYMNTS

MAY 28, 2020

MarketWatch, quoting a local Florida news station, reported on one couple that, thinking the card was fake, cut it up into pieces and threw it away. The press release states that the cards provide protection against fraud and loss, similar to the protections afforded to traditional bank cardholders.

Cards 163

Cards Payments Florida ATM 163

American Banker

MAY 6, 2022

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Florida 69

Florida Fraud Technology 69

PYMNTS

DECEMBER 16, 2020

The companies said in the release that Welcome’s selection of PSCU came after a “comprehensive review process,” with PSCU standing out for its “industry-leading technology, API connectivity, fraud capabilities, overall product portfolio and 24/7 service model.”.

Technology 154

Technology Cards Missouri Florida 154

PYMNTS

FEBRUARY 4, 2019

Former Israeli intelligence agents or military members have taken the knowledge they gained during their service and contributed to artificial intelligence (AI), fraud prevention and other efforts that do make — or can end up making — a difference in the daily lives of consumers. Department of Defense (DOD) or NATO , for instance.

Fraud 161

Fraud Illinois Retail Security 161

PYMNTS

MARCH 2, 2016

In total, through the past year, the network gathered more than 3 million complaints, with Florida, Georgia and Michigan at the top of the state list for fraud complaints. The category of identity theft was seen most often in Missouri, Connecticut and Florida.

Florida 100

Florida Missouri Connecticut Michigan 100

PYMNTS

NOVEMBER 30, 2018

In recent headlines surrounding payments fraud and improper use of company funds, perhaps none loomed larger than the news that Nissan Motor Corporation ’s board voted unanimously to force Chairman Carlos Ghosn from his position. Those warnings come as invoice fraud is on an upswing, up by about one-third through the past year.

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Payments Fraud Florida Report 124