PYMNTS
FEBRUARY 14, 2020
An online scam targeted $4 million in retirement funds from at least four Puerto Rico agencies, according to reports on Thursday (Feb. Agencies affected include the Puerto Rico Industrial Development Co. and the Puerto Rico Tourism Co. The finance director at the Puerto Rico Industrial Development Co.
PYMNTS
FEBRUARY 14, 2020
In today’s top news, at least four Puerto Rico government agencies were targeted in a $4 million online scam, and India’s court hit pause on their antitrust investigation into Amazon and Flipkart. Puerto Rico Falls Prey To $4M Online Fraud. Also, Flywire raised $120 million and acquired Simplee Healthcare.
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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. to borrow tens of millions of dollars in credit from Westernbank Puerto Rico.
PYMNTS
FEBRUARY 13, 2020
The government of Puerto Rico lost $2.6 The department has faced strong criticism from the people of Puerto Rico about the incident, as the country has been dealing with a recession for more than a decade, and some government services have been cut as a result. “I The department is actively trying to get the money back.
PYMNTS
MAY 5, 2020
BMA was founded in March 2019 in Puerto Rico and appears to be represented by sole director Pavel Pogodin, according to the corporation registry, CoinDesk reported. The firm also wants the court to award “compensatory damages.”. Ripple did not have a comment on the allegations, according to CoinDesk.
PYMNTS
FEBRUARY 24, 2020
According to the latest research from Bottomline Technologies, businesses said the fraud threat is on the rise. Meanwhile, Forbes reported separate analysis from North Carolina State University warning that as pressure mounts for chief financial officers to hit their financial targets, they’re less likely to report fraud.
PYMNTS
NOVEMBER 19, 2019
The report cited disasters, such as Hurricanes Maria in Puerto Rico or Harvey in Texas, where those affected might not have any access to the information needed to file a claim, such as policy documents, land ownership records, personal identification and more.
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