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Retail FX

Fraud Prevention Is a Priority: Public and Private Sectors Must Come Together

  • Access to critical data sets can help identify fraudulent behavior and bad actors.
  • AI can be used to detect patterns and provide real-time data around transactions.
by Duncan Sandys
Retail FX

Federal Court Drops $20 Million Fine on Ponzi Scheme Trader

  • The CFTC and the court fined Phillip Galles for conducting a fraudulent scheme.
  • Unfortunately, victims may not recover lost funds despite the ruling.
by Damian Chmiel
Retail FX

Serbian Man Faces 20 Years of Time for 20 Sham Trading Platforms

  • Over $70 million was stolen in fraudulent trading schemes.
  • The fraudster offered investments in cryptocurrencies and binary options.
by Damian Chmiel
FinTech

Are KYC and AML Protocols Enough to Curb Fraud?

  • A look into the financial services industry's fight against fraud.
by Pedro Ferreira
Trending

Revolut and the Fight Against Financial Fraudsters

  • More staff funneled into ongoing battle.
  • The company’s FinCrime team doubles its headcount since 2021.
  • 77,000 would-be crime fighters apply for roles.
by Louis Parks
Trending

Shell & The ai Corporation: Defending the Payment Pipeline from Fraud

  • The ai Corporation is bringing the power of the machine to combat card fraud.
  • The company's systems aid international firms across multiple sectors and geographies.
by Louis Parks
FinTech

Fintech and AI in Fraud Detection

  • A perfect match?
by Pedro Ferreira
Technology

Exclusive: Airsoft Named in Israeli Forex Fraud Investigation

  • The "complex" investigation "has just begun," an Israeli judge said.
  • The fraudsters operated fraudulent call centers in Bulgaria, Serbia, Ukraine, Georgia, Israel, and Kosovo.
by Yam Yehoshua
Retail FX

Breaking: Israeli Police Bust Massive Online FX Investment Fraud, Arrest Six

  • The fraudsters defrauded investors across Europe.
  • The mastermind of the fraud is still at large.
by Arnab Shome
Retail FX

$310 Million Prop Trading Fraud: Regulators Freeze Assets of My Forex Funds

  • Action has been taken against two companies operating My Forex Funds and their owner.
  • The platform has more than 135,000 customers, who paid about $310 million in fees.
by Arnab Shome
CryptoCurrency

The Fall of Moshe Hogeg: Israeli Mogul Accused of $290 Million Crypto Fraud

  • Hogeg collected hundreds of millions through four cryptocurrency projects.
  • However, the funds were used to finance illegal operations and his lavish lifestyle
by Damian Chmiel
Payments

Overcoming Security and Privacy Concerns in Open Banking

  • Can blockchain tech help open banking?
by FM Contributors
FinTech

UK Financial Ombudsman Reports Increase in 'Hybrid' Scams

  • The FOS said the majority of complaints include an element of cryptocurrency.
  • The increasing number of complaints reported more than one scam.
by Jared Kirui
Data

Can AI Help Improve Fraud Detection?

  • And can it be used to commit fraud?
by FM Contributors
Retail FX

Boiler Room Defrauds Investors of $35 Million, SEC Intervenes

  • The SEC has obtained a provisional injunction against Legend Venture Partners LLC.
  • According to allegations, the company conducted a pre-IPO stock fraud scheme.
by Damian Chmiel
Retail FX

France’s AMF Cautions against Automated FX, Crypto Trading Scheme

  • Popular personalities and websites promoted it as a 'get rich quick' scheme.
  • The regulator received complaints from dozens of victims.
by Arnab Shome
Education Center

Will Blockchain Technology Mark a Turning Point in Fraud Prevention?

  • Blockchain tech has the potential, but can it live up to the hype?
by FM Contributors
Retail FX

After CySEC, Belgium’s FSMA Is Now Tackling Impersonators

  • Fraudsters are approaching people impersonating themselves as regulatory employees.
  • They are utilising the ploy of seeking fees for recovering lost funds.
by Arnab Shome
Retail FX

California Resident to Pay $4.7 Million for Options Fraud

  • She defrauded at least 29 individuals or entities of more than $2 million.
  • She already pled guilty to criminal charges.
by Arnab Shome
CryptoCurrency

SEC Blocks Dozens of Websites Offering Fraudulent Investment Schemes

  • These websites were offering investment through crypto and other illegal securities.
  • Some of them were offering returns as high as 61.9 percent a day.
by Arnab Shome
Retail FX

International Scamming Network: Israel Awaits German Extradition Request

  • Europol with cooperation of Israeli police made some 'high-value' arrests last month.
  • The schemes defrauded at least 33,000 victims, many of them from Germany
by Arnab Shome
Op-ed
Op-ed
FinTech
Op-ed
Op-ed

Mobile Banking Increased Dramatically, but Anti-fraud Protection is Lagging Behind

  • Over 90% of the UK alone used online banking in 2022, according to Statista.
  • Adoption of anti-fraud protection to combat ad fraud by banking apps has stayed relatively static.
by Kalen Bushe
FinTech

"We Will Outlaw So-Called ‘SIM Farms’": UK PM Declares War on Financial Fraud

  • Sunak launched a plan to tackle scams: "Fraud accounts for over 40% of crime."
  • The UK will ban all cold calls for financial products.
by Arnab Shome
Retail FX

South African CEO to Pay $3.4 Billion for Forex Fraud

  • The CEO defrauded investors worldwide of 30K BTC between 2018 and 2021.
  • US derivatives watchdog charged Cornelius Steynberg in July last year.
by Solomon Oladipupo
CryptoCurrency

US Man Pleads Guilty to Defrauding Banks and "Leading Crypto Exchange" of over $4M

  • Esteban Da Corte committed the crime around March 2020, prosecutors say.
  • The Miami man and his crew used fake ID information for the scheme.
by Solomon Oladipupo
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