PYMNTS

APRIL 26, 2019

Recently announced statistics from the Federal Bureau of Investigation (FBI) bear out this trend. The numbers come from the FBI’s annual Internet Crime Report , which detailed that the use of social engineering, emails and other methods to get victims to wire money to fraudsters was a lucrative business. billion in 2018.

Business Email Compromise 57

Business Email Compromise FBI Scams Wire 57

PYMNTS

OCTOBER 15, 2020

The FBI is warning homebuyers to be on the lookout for internet criminals who are sneaking into online conversations between buyers and mortgage companies or other participants in the sale process and providing false instructions that dupe purchasers into wiring funds to the criminals’ accounts, CNBC reported Thursday (Oct.

FBI 64

FBI Wires Wire Financial Crimes 64

The Fintech Times

JUNE 21, 2024

Both firms and governments across the globe have a duty to do all they can to intensify the fight against internet crime and looking to do so in Nigeria, Flutterwave , the African paytech, has partnered with Nigeria’s Economic and Financial Crimes Commission (EFCC).

Crime 64

Crime Research Financial Crimes FBI 64

Axway

NOVEMBER 2, 2020

The Federal Bureau of Investigation (FBI), Department of Health and Human Services (HHS) and the Cybersecurity and Infrastructure Security Agency (CISA) are warning the healthcare community about an increased and imminent cyber crime threat to U.S. hospitals and healthcare providers.

FBI 96

FBI Security Crime Cybersecurity 96

PYMNTS

JULY 21, 2020

Developments Around The Financial Crimes Space. Developments Around The Financial Crimes Space. Fraudsters also frequently target mobile banking apps, and these types of attacks are also expected to be on the rise in the coming months, according to the FBI. billion pounds ($5.2 About The Playbook.

Crime 66

Crime Financial Crimes FBI Cybersecurity 66

Innovative Payments Association

OCTOBER 3, 2023

​Mentions of Chicago and the FBI might conjure images of men in fedoras with Tommy Guns, but modern crime is much more electronic than it used to be. With that in mind, the IPA recently held a session with the Chicago Field Office of the FBI where agents spoke about the trends in crime and payments.

FBI 40

FBI Crime Law Enforcement Request for Information 40

PYMNTS

SEPTEMBER 21, 2018

To that end, the the Internet Crime Complaint Center (IC3), a hub to bring complaints to the Federal Bureau of Investigation (FBI), is eyeing payroll fraud. Beyond that, according to Europol , PSD2 “may introduce new opportunities for crime.” Payment fraudsters are looking to get between consumers and their paychecks.

Payroll 56

Payroll FBI ACH Same Day ACH 56

Innovative Payments Association

JANUARY 13, 2025

Instead, it is for general informational purposes only.

Scams 52

Scams Law Enforcement Payments FBI 52

PYMNTS

MARCH 13, 2017

The FBI announced the most expensive bounty ever for a cybercriminal to help catch Evgeniy M. The New York Times reported that the FBI has been trying to track down Bogachev, and last year the Obama administration even announced sanctions against him for his computer crimes. Bogachev, who was indicted in the U.S. authorities.

FBI 41

FBI Law Enforcement Crime Authorization 41

PYMNTS

NOVEMBER 21, 2016

know the FBI does not agree and thinks U.S. The FBI said in a bulletin that it is “monitoring emerging reports indicating that well-resourced and organized malicious cyber actors have intentions to target the U.S. The FBI report pointed at software used by a Russian gang known as Buhtrap. financial sector.”.

ATM 77

ATM FBI Phishing Crime 77

PYMNTS

MAY 8, 2017

In a warning to businesses covered by Reuters , the FBI said bad guys used email and pretended to be from real businesses to try and steal $5.3 In a previous report, the FBI had said thieves tried to steal $3.1 The FBI did not say how much money the bad guys were able to steal. Reuters also noted that the U.S.

FBI 41

FBI Wires Wire Email Compromise 41

PYMNTS

DECEMBER 18, 2020

In the United States, the FBI posted guidelines on its website for avoiding COVID-19 crime. Criminal networks will also be targeting unsuspecting members of the public via fake websites and false cures, which could pose a significant risk to their health, even their lives.".

Law Enforcement 109

Law Enforcement FBI Scams Crime 109

PYMNTS

DECEMBER 14, 2016

The FBI is looking to take down “booter” services, which are hired to take websites offline, and also curb demand with the threat of jail time. 13) that the FBI is working with other global law enforcement agencies to crackdown on the number of people that use services to launch cyberattacks on their behalf.

FBI 68

FBI Law Enforcement Authorization Laws 68

FICO

APRIL 16, 2020

Well, for those of you as obsessed with fraud and financial crime as me, here are a few more to add to your queue: Sour Grapes. Follow the FBI and Laurent Ponsot, a French vintner, as they unravel this charade. But now what should you watch? In this fascinating documentary, the truth is ‘uncorked’ in a tale of counterfeit wine.

Financial Crimes 88

Financial Crimes Money Laundering Crime FBI 88

PYMNTS

JULY 20, 2016

A new notice from the FBI continues its crackdown of the scheme and pinpoints what reports call “ground zero” for the scam. The FBI has dubbed the Business Email Compromise a “super swindle” due to the value of money already stolen through the scam. billion from unsuspecting companies.

FBI 40

FBI Scams Email Compromise Wire 40

PYMNTS

APRIL 5, 2019

Stacy Arruda, a former special agent with the FBI and now executive director of the state of Florida ISAO on cybersecurity, said that part of the problem is that when it comes to protecting credit unions — and really any financial institution — danger lurks in what they don’t know. “So Who Are the Bad Guys?

FBI 50

FBI Credit Union Credential Cybersecurity 50

The Paypers

MAY 10, 2018

(The Paypers) Over 300k consumers announced cyber-fraud attacks to the FBI’s Internet Crime Complaint Center (IC3) in 2017, with reported losses exceeding USD 1.4

FBI 28

FBI Crime Consumer 28

FICO

SEPTEMBER 10, 2020

Federal Bureau of Investigation (FBI) issued a bulletin warning that this crime is on the rise, and published a Money Mule Awareness Guide to help the public fight money mules. Were they expecting this crime to rise? Follow my latest thoughts on fraud, financial crime and the San Diego Padres on Twitter @FraudBird.

Crime 52

Crime Money Laundering Online and Mobile Banking Romance Scams 52

The Paypers

APRIL 29, 2019

(The Paypers) The statistics gathered by the FBI’s Internet Crime Complaint Center (IC3) revealed that Internet-enabled theft was responsible for over USD 2.7 billion in financial losses in 2018.

FBI 31

FBI Crime Security 31

Fintech News

APRIL 1, 2024

Payments sector share of overall identity fraud by region H2 2023, Source: Q4 Global Identity Fraud Report, AU10TIX, Mar 2024 Crypto crimes remain rampant The crypto industry is a sector that’s long been a top target for fraudsters and cybercriminals. billion in 2022, a new report by the Federal Bureau of Investigation (FBI) shows.

Ransomware 117

Ransomware Payments Bitcoin Scams 117

CB Insights

DECEMBER 9, 2021

California-based TRM Labs offers blockchain analytics and assists cryptocurrency firms, law enforcement agencies, and financial institutions in addressing fraud and financial crime stemming from crypto transactions. Uniswap, Circle, FTX, the IRS, and the FBI are included among its clients. Want the full post?

Law Enforcement 63

Law Enforcement Compliance IRS FBI 63

Innovative Payments Association

MAY 20, 2024

I have been attending the FBI Citizens Academy at the Bureau’s Cleveland Field Office. It is a program the FBI runs every year to explain its mission to the public. At a recent session, we heard from a cyber-squad leader who shared some of his experiences with responding to crimes. It can help identify and catch criminals.

Cybersecurity 52

Cybersecurity FBI Law Enforcement Crime 52

PYMNTS

JUNE 16, 2020

Treasury’s Financial Crimes Enforcement Network (FinCEN) work with the FBI and other agencies to pursue fraudsters looking to cash in on the pandemic — successfully recovering $300 million in COVID-19 related fraud — as an example of the widespread issue.

Cybersecurity 90

Cybersecurity Money Laundering Treasury FBI 90

PYMNTS

JULY 20, 2018

The total value of funds redirected as a result of a BEC scam has now topped $12 billion, the FBI said, updating previous warnings of the scam and including data up to May 2018. According to the FBI, the Internet Crime Complaint Center (IC3) recorded 41,048 U.S. billion in losses.

Scams 43

Scams Business Email Compromise Email Compromise FBI 43

PYMNTS

NOVEMBER 21, 2019

And through the latest scam, as detailed by the country’s Economic and Financial Crimes Commission, he was able to use the fictitious name “Akinwunmi Sorinmade” in order to open two bank accounts. As quoted in September in the wake of those busts, FBI Special Agent Michael Nail referred to it all as “modern-day bank robbery.

Scams 87

Scams Checks Romance Scams Email Compromise 87

PYMNTS

JUNE 4, 2019

The Government Accountability Office (GAO) and members of congress say the FBI’s use of facial recognition technology isn’t private or accurate enough, according to a report by VentureBeat. The FBI began using the software in 2011, and it first became fully operational in September of 2015.

FBI 43

FBI Law Enforcement Database Audit 43

The Fintech Times

NOVEMBER 27, 2024

The partnership will be especially effective as blockchain-related crime is a growing concern. Recently, the United States Federal Bureau of Investigation (FBI) created its own crypto token to take down criminals. At Sumsub, we are committed to fostering trust in the crypto sector.

Transactions 59

Transactions Financial Crimes Crime Blockchain 59

Fintech Finance

OCTOBER 24, 2024

The latest edition of the report brings to light several emerging threats and scams targeting banks and consumers, including a surprising resurgence of small-scale physical crime. In the first three months of 2024, the average government impersonation scam victim in the U.S. lost $14,000 in cash, totaling more than US$20 million.

Scams 98

Scams Ransomware Government Governance 98

PYMNTS

SEPTEMBER 11, 2019

This is not the first time the FBI has sounded a warning about business email compromise. The numbers come from the FBI’s annual Internet Crime Report , which detailed that the use of social engineering, emails and other methods to get victims to wire money to fraudsters was a lucrative business. Fraud Trends. billion in 2018.

Scams 65

Scams Email Compromise Compromise Wire 65

PYMNTS

JANUARY 31, 2020

The first arrests for the crime were announced just this week, with Interpol saying it arrested three Indonesian individuals who reportedly breached hundreds of eCommerce shopping sites. The FBI says it has been monitoring eSkimming for almost seven years. s Ticketmaster site in June 2018.

FBI 52

FBI Crime Cybersecurity Data Breach 52

PYMNTS

FEBRUARY 24, 2020

75,000 is the average loss of a BEC scam , new data from the FBI has revealed. The government’s Industrial Development Company finance director has reportedly alerted the FBI of the alleged crime. Analysis of BEC complaints filed in 2019 found that BEC scams accounted for nearly half of the $3.5

Business Email Compromise 65

Business Email Compromise Scams Email Compromise Phishing 65

The Paypers

FEBRUARY 24, 2020

The Federal Bureau of Investigation ’s Internet Crime Report for 2019 has revealed that India stands third in the world among top 20 countries that are victims of internet crimes.

FBI 31

FBI Crime 31

PYMNTS

MAY 28, 2019

The FBI’s Internet Crime Complaint Center (IC3) said in a report, for instance, that online fraud, theft and exploitation led to $2.7 IC3 Chief Donna Gregory said in an announcement, according to reports , “The 2018 report shows how prevalent these crimes are. Just under $3 billion – or $2.7 billion in 2017.

FBI 63

FBI Crime Mobile Payments Data Breach 63

Center for Payments

NOVEMBER 21, 2023

Over 800,000 reports were received by the FBI’s Internet Crime Complaint Center (IC3) in 2022, representing $10.2 The FBI works to raise awareness of the types of scams that are common around the holidays and how you can protect yourself and your customers or members. Year after year, fraud continues to grow exponentially.

Holiday Scams 40

Holiday Scams Scams FBI Federal Trade Commission 40

PYMNTS

MAY 20, 2020

And as noted in this space last week, the FBI warned that crypto-related scams are gaining traction. The FBI also noted that “many traditional financial crimes and money laundering schemes are now orchestrated via cryptocurrencies.”.

Bitcoin 55

Bitcoin Scams FBI Cryptocurrency 55

PYMNTS

AUGUST 26, 2019

Officials said that, as had been estimated by the FBI’s Internet Crime Complaint Center, more than 14,000 complaints tied to BEC have been reported, with $1.1 billion stolen by victims. Individual Case. Separately, in Oregon, Portland Public Schools is, according to The Oregonian , “on track” to recover $2.9

Business Email Compromise 58

Business Email Compromise Romance Scams Scams Identity Theft 58

PYMNTS

APRIL 26, 2019

In other recent crypto crime news, the Federal Bureau of Investigation (FBI) announced in late March that its Joint Criminal Opioid and Darknet Enforcement (J-CODE) team shut down 50 darknet accounts used for illicit activity as well as made 61 arrests. With the funds, $4.5 million in cash.

FBI 46

FBI Crime Digital Currency Bitcoin 46