PYMNTS

JUNE 25, 2020

Long pled guilty in November of 2019 to a scheme where he committed wire fraud and aggravated identity theft. The charges dated back to 2013, when Long created and deposited checks from the checking accounts of over 375,000 victims, saying that the victims’ banks had authorized the fund transfers.

Identity Theft 66

Identity Theft Checks Payee Phishing 66

PYMNTS

JANUARY 13, 2020

Plaid, which was launched in 2013, is attractive to Visa because it has the technology to get access to a customer’s bank account data, collect it and aggregate it for financial services providers to use. Visa has signed a deal to purchase FinTech firm Plaid for $5.3 billion, according to a report.

Wire Transfer 57

Wire Transfer Cross-Border Acquirers Payment APIs and Integration 57

PYMNTS

MAY 1, 2017

The DoJ has since charged Rimašauskas with one count of money wire fraud, three counts of money laundering and one count of aggravated identity theft. billion in attempted wire fraud between October 2013 and May 2016. Additionally, research from Trend Micro found $1 billion total losses worldwide in 2016 due to BEC scams.

Scams 47

Scams Business Email Compromise Email Compromise Identity Theft 47

PYMNTS

FEBRUARY 9, 2020

5) to one charge of conspiracy to commit wire fraud, stating that he assisted New York-based MyPayrollHR CEO and Founder Michael Mann defraud two companies, according to multiple reports last week. Steiner said he helped the 49-year-old Mann allegedly defraud two finance companies out of nearly $13 million between 2013 and 2019.

Payroll 61

Payroll FBI Wire Wires 61

PYMNTS

MARCH 26, 2016

According to court documents , Montgomery, Alabama resident Wendy Huff, who worked at two different insurance companies between January 2013 and August 2015, stole personal information of her employers’ customers, including their names, social security numbers and dates of birth.

Identity Theft 56

Identity Theft Treasury Checks Debit Card IRS 56

PYMNTS

APRIL 13, 2017

charges including conspiracy to commit computer fraud, conspiracy to commit wire fraud and identify theft and could face decades in an American jail if found guilty on all charges. Belan was arrested in Europe in June 2013 but escaped to Russia before he could be extradited to the United States. Baratov faces U.S.

Wire 57

Wire Wires Accounts Governance 57

PYMNTS

DECEMBER 26, 2018

Those lapses hurt Morgan Stanley’s ability to track tends of billions of dollars of wire and foreign currency transfers. billion shares of penny stock between 2011 and 2013, noted the report. billion shares of penny stock between 2011 and 2013, noted the report.

Compliance 53

Compliance Money Laundering Fincen AML 53

PYMNTS

NOVEMBER 8, 2018

According to the FTC , the company violated the settlement struck in 2012 that stemmed from charges that the company had aided and abetted wire fraud. 1, 2013 and April 30, 2018, MoneyGram received at least 295,775 complaints about fraud-induced money transfers — a large majority of which involved a small percentage of agents.

FTC 64

FTC Settlement Federal Trade Commission Fraud Prevention 64

PYMNTS

JANUARY 29, 2019

government charged Huawei Technologies , two affiliated companies and chief financial officer Meng Wanzhou with bank and wire fraud, as well as conspiracy in connection with business in Iran. In a 13-count indictment filed in Brooklyn, New York, the U.S. prosecutors have accused Huawei of hiding its relationship with Skycom Tech Co.,

Request for Comment 52

Request for Comment Wire Wires Governance 52

PYMNTS

DECEMBER 20, 2019

According to people familiar with the case, the scheme managed to nab roughly $23 million from Google in 2013 and around $98 million from Facebook in 2015. Attorney General Geoffrey Berman said Rimasauskas “carried out his high-tech theft from halfway across the globe, but he got sentenced to prison right here in Manhattan federal court.”.

Law Enforcement 53

Law Enforcement Phishing Wire Transfer Scams 53

PYMNTS

MAY 15, 2020

The experts were expecting a weak retail sales report when the numbers hit the wires earlier today (May 15) – but even in an environment of diminished expectations, the number reported by the Census Bureau was a disappointment. Consumer spending, which represents roughly two-thirds of the U.S. GDP, took a 16.4 On the upside?

Federal Reserve 92

Federal Reserve Shutdown Consumer Economy 92

PYMNTS

MARCH 23, 2018

While the defendants have not been arrested and are reportedly abroad, they face multiple charges, such as wire fraud and conspiracy to commit computer intrusions. Prosecutors said over 31 terabytes were stolen from 144 U.S. universities, 36 U.S. businesses and five U.S. government agencies for financial gain.

Fed 44

Fed Wire Wires Mitigation 44

PYMNTS

JANUARY 18, 2019

“Unlike traditional [business email compromise (BEC)] attacks, which are starting to raise red flags with financial institutions, payroll diversion attacks eliminate the interaction with banks because it is a direct deposit instead of a wire transfer,” said Crane Hassold, senior director of threat research at the firm.

Business Email Compromise 69

Business Email Compromise Scams Audit Payroll 69

PYMNTS

DECEMBER 12, 2017

Paper checks for domestic suppliers, wire transfers for international ones. Most businesses and accountants still rely on antiquated, paper-based methods to manage some stages of their process,” he said in an emailed interview with PYMNTS, pointing to the continuing popularity of checks and wire.

Accounts 44

Accounts Wire Transfer Wire Wires 44

PYMNTS

FEBRUARY 20, 2020

Steve Chen, the mastermind behind a $147 million gemcoin fraud from 2013 to 2015, pleaded guilty of his crimes of tax evasion and conspiracy to commit wire fraud, reported on Wednesday (Feb. The 62-year-old California resident will face a minimum of a decade in prison, according to the Department of Justice.

Bitcoin 52

Bitcoin Law Enforcement Crime Cryptocurrency 52

PYMNTS

FEBRUARY 5, 2019

Department of Justice (DOJ) recently introduced a new interpretation of the Federal Wire Act, enacted in 1961. That new interpretation “now makes the Wire Act applicable to any form of gambling that crosses state lines, including online gambling and online lottery,” according to one account.

Legal 49

Legal Wire Wires Rules 49

PYMNTS

OCTOBER 12, 2016

How about ensuring you’ll never waste a freezer-full of food again because the door didn’t close properly, or eliminating the risk of fires caused by faulty wiring? Sense intends to tackle fault detection; letting the homeowner know that the furnace is not working correctly or that dodgy wiring could cause a fire. Of course you do.

Wire 69

Wire Wires B2B Cross-Border Payments 69

PYMNTS

AUGUST 26, 2016

Those counts included wire fraud and intentional damage to a protected computer. The son of a Russian parliament member, Seleznev was found guilty on 38 of 40 charges brought against him. The case hinges on hacks that took place from Oct. 2009 to Oct.

Credit Cards 40

Credit Cards Wire Wires Legal 40

PYMNTS

DECEMBER 18, 2017

Targets reportedly included a New York investment company that, according to court documents, received two requests for wire transfers totaling more than $100,000. Department of Justice last March against a Lithuanian man for his alleged role in criminal activities including business email compromise scams between 2013 and 2015.

Scams 41

Scams Email Compromise Compromise Wire Transfer 41

Clearly Payments

MARCH 4, 2024

Target Data Breach (2013) In the saga of payment processing fraud, few chapters loom as large as the Target data breach of 2013. With harvested data, perpetrators conducted unauthorized transactions, including wire transfers and credit card purchases, exploiting compromised accounts for financial gain.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

PYMNTS

MARCH 22, 2016

He also pled guilty to one count of wire fraud. 2013 to May 2015, during a tenure of employment at the U.S. Ford pled guilty in December of last year to nine counts of cyberstalking, along with another seven counts of computer hacking to extort. He admitted that, in the timeframe of Jan.

Phishing 41

Phishing Wire Wires Crime 41

PYMNTS

AUGUST 22, 2016

Take wire transfers, for example. “They have to initiate a wire or money transfer from a bank account to each local account, and that’s a lot of manual transacting going on,” he said. ’s approach with wire transfers and other less-streamlined rails as “archaic.” ” The U.S.

Payroll 41

Payroll Cross-Border Wire Transfer Wire 41

PYMNTS

AUGUST 12, 2019

The scheme apparently unfolded the way many BEC scams do — with a fraudster posing as a legitimate vendor, and where payments had been wired into scammers’ bank accounts. “The real vendor responsible for the field is still awaiting payment,” reported the site. The maneuver is also known as “cookie jar” accounting.

Business Email Compromise 59

Business Email Compromise Scams Fincen Compromise 59

PYMNTS

APRIL 3, 2020

It’s June 2013. As Wired magazine said in a recent review : “The idea is that, in situations where you can’t control the thermostat or you left your sweater at home, the Wave will trick your brain into feeling warmer or cooler.”. Barack Obama is president. The Purge” rules the box office. It does change your perception of it.

Wire 58

Wire Wires Use Case Rules 58

Green.Money

AUGUST 16, 2019

Wire transfers are costly, and in many cases, take a trip to the bank. It happened in 2012-2013 and again in 2016-2017. Bitcoin can NOT be charged back, it cannot bounce, and there are no reversing transactions, ever. In some industries, credit cards have a national chargeback average of 8%. ACH transactions can be reversed.

Bitcoin 52

Bitcoin Wire Transfer Checks Non-Bank 52

PYMNTS

SEPTEMBER 17, 2018

Additionally, there is one count of conspiracy to commit wire fraud — a charge that could lead to a maximum sentence of 20 years in prison. Chosun also plied its trade from locations in China (where Park was based from 2011 to 2013), according to the complaint. Park is being charged by the U.S.

SWIFT 75

SWIFT Phishing Ransomware Central Bank 75

PYMNTS

JUNE 27, 2018

The deliveries took place between 2010 to 2013 and racked up tens of thousands of dollars in charges — despite the fact that chefs were employed in the residence. Robin Cline, who had worked as an accounts receivable clerk for the firm, had been accused by the Justice Department of wire fraud.

Risk 43

Risk Micro-Entry Payments Payroll 43

PYMNTS

MAY 2, 2017

Rimašauskas has since been charged with one count of money wire fraud, three counts of money laundering and one count of aggravated identity theft. billion in attempted wire fraud between October 2013 and May 2016. Additionally, research from Trend Micro found $1 billion total losses worldwide in 2016 due to BEC scams.

Business Email Compromise 43

Business Email Compromise Email Compromise Scams Phishing 43

PYMNTS

MAY 12, 2017

FBI Sees Wire Fraud Via Email Grow In 2016. From October 2013 through December 2016, a new report from the FBI suggests cybercriminals used business email compromise (BEC) scams to try and steal some $5.3 Analysts say these strategies comprised some 63 percent of the cybersecurity threats that hit SMEs in 2016.

Business Email Compromise 51

Business Email Compromise ATM Phishing FBI 51

PYMNTS

APRIL 11, 2016

Cybercriminals are making bank from wire transfer scams conducted through email — the FBI estimates more than $2.3 billion since 2013. BlueSnap CEO Ralph Dangelmaier tells Karen Webster about how their work with AutoDesk has given rise to a whole new SaaS business model to explore – and monetize.

ATM 40

ATM Wire Transfer Scams Compromise 40

PYMNTS

SEPTEMBER 14, 2017

High-ranking executives and rank-and-file employees alike, if uninitiated, could be duped into sending funds via wire transfer or revealing information necessary for cybercriminals to pull off their fraudulent schemes,” Trend Micro warned in its report, as reported in the International Business Times. billion in total losses since 2013.

Scams 41

Scams Email Compromise Business Email Compromise Compromise 41

PYMNTS

APRIL 14, 2017

Last year the AFP marked an unexpected reversal in the decline of the use of checks in B2B transactions, inching up 1 percent to 51 percent last year compared to 2013 levels (that survey is conducted every three years). Carlsson noted earlier research released by the AFP for its analysis of the use of electronic payments among corporates.

AFP 40

AFP B2B Business Email Compromise Email Compromise 40

PYMNTS

AUGUST 5, 2019

For one, traditional money movement methods like wire transfers can be costly, and card payment acceptance requires merchants to accept processing fees. Security is important, though, as the tally of major publicly reported cyberattacks rose 165 percent between 2013 and 2017.

Cross-Border 46

Cross-Border ISO 20022 Cross-Border Payments Payment APIs and Integration 46

Fintech Labs Insights

AUGUST 9, 2016

Founded in 2011 and headquartered in London, SumUp demonstrated its technology at FinovateEurope 2013. Referred to by Wired magazine as one of the “hottest startups in Finland,” the company was acquired by BBVA in March. Daniel Klein is CEO.

Small Business 22

Small Business Wire Wires Acquirers 22

PYMNTS

SEPTEMBER 5, 2017

Wired reported that Google plans to improve by at least that much using a deep learning system to grow those ad dollars even more. InvestorPlace even breaks it down, showing how Google made a strong showing in September, particularly during its most successful years (2009, 2013 and 2015). billion quarterly boon. What’s In A Name?

Returns 40

Returns Wire Wires SWIFT 40

PYMNTS

JULY 8, 2019

There are no overdraft fees, and other banking services like wire transfers are charged at their cost — roughly $.082 Indeed, when he was talking to potential Aspiration investors back in 2013 and 2014, he told Webster, his vision didn’t exactly spark confidence among the people with money. “It Aspiration, which counts 1.5

Wire Transfer 46

Wire Transfer Credit Union Consumer Wires 46

PYMNTS

JUNE 19, 2018

Those data breaches that began pummeling headlines in 2013 can also be traced back as a root cause for why card adoption has been stifled in the B2B payments market. Card rails are, at least, cheaper than wires, which often charge both the sender and receiver in order for the payment to go through.

Commercial Card 40

Commercial Card Data Breach Credit Cards B2B 40