Tag: Financial losses
Former FTX CEO Sam Bankman-Fried sentenced to 25 years in landmark fraud case
Sam Bankman-Fried, the former CEO of FTX, was sentenced to 25 years in jail today in a packed courtroom, marking a significant moment in...
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Here’s How a Hong Kong Housewife Lost $908K to Crypto Scammers: Report
A 46-year-old housewife in Hong Kong has reported losses of 7.1 million Hong Kong dollars ($908,000) after investing in a fraudulent crypto investment platform.
According...
Visa: AI Fuels Surge in Emotion-Based Scams like Pig Butchering and Inheritance Fraud – Fintech Singapore
by Fintech News Singapore
March 21, 2024
Visa’s latest Biannual Threats Report for Spring 2024 underscores the concerning rise of “pig butchering” scams, showcasing the sophisticated...
BBB Says Crypto Fraud Is Riskiest Con Consumers Face – CryptoCurrencyWire
Crypto and investment frauds rank as the most perilous schemes in the United States presently, according to the Better Business Bureau (BBB). These fraudsters...
UK Regulator’s Nod Fuels Surge: Bitcoin Reaches Fresh Peak Amid Expanding Crypto Trade Opportunities | Business News – CryptoInfoNet
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The surge in Bitcoin’s valuation is influenced by regulatory changes and economic forces, with anticipation building around the upcoming halving event that will decrease...
FBI cybercrime report reveals crypto investment fraud in the US rose 53% YoY
The FBI’s Internet Crime Complaint Center (IC3) has released its 2023 report, revealing a significant rise in crypto-related fraud and the use of digital...
Unveiling the State of Cyber Security in the Nation
Johannesburg, South Africa, Mar 8, 2024 - (ACN Newswire) - Cybersecurity is crucial in South Africa due to its reliance on digital technologies and...
7 Ways AI Can Streamline Expense Management
Managing expenses often proves to be a Herculean task for many organizations. Traditional expense management systems are often fraught with challenges: manual data entry...
ECB Blog Casts Doubt on Bitcoin’s Value Following ETF Approval
ECB blog post criticizes Bitcoin's utility and questions its value, even after SEC's ETF approval, warning of potential societal risks.
In a recent blog...
MetaTrader Found Itself in the Middle of John Oliver’s Dig into “Pig Butchering” Scam
Trading today has moved online, opened up vastly to retail participants, is closely tied in with social media platforms such as, notably, Reddit and...
Risk, Fraud and Compliance: 12 tech trends and predictions for 2024
As in other industries, the explosion of generative AI (GenAI) has forced the financial services sector to quickly adapt while riding a wave of...
Singapore Sees Progress in Fight Against Phishing with Stronger Bank Safeguards – Fintech Singapore
by Fintech News Singapore
February 29, 2024
Singapore’s fight against phishing scams saw notable progress in 2023, with a reported 16% decrease in cases and a...
What is data reconciliation?: Importance, Process, and Benefits
What is Data Reconciliation?Data reconciliation is an essential process that involves comparing multiple sets of data to identify and rectify discrepancies, ensuring data accuracy...