The scale of the fraud is breathtaking. Around 900,000 individual investors have collectively been bilked out of US$7.6 billion, according...
Cybercrime is a growing problem with ID theft hitting a record high in 2016 affecting 15.4 million people; Credit card fraud resulted in $21.84 billion in losses across the world; synthetic identities are a top risk for the banking industry and banks need next-generation KYC tools to protect themselves. Source
Over the weekend I was listening to one of the sessions from LendIt Fintech USA 2018. The name of the...
Last week fintech startup Spring Labs announced they are developing the Spring Protocol, a blockchain-based anti-fraud and ID verification system,...
A new report by Accenture Security talks about the growing fraud risk at banks and potential solutions they can implement...
Speaking at an industry conference JPMorgan Chase CEO Jamie Dimon said bitcoin was a fraud and that it will eventually blow up; American Banker reports, “If we had a trader who traded bitcoin, I’d fire them in a second,” Dimon said. Not only would doing so be against company rules, but it would also simply be “stupid.”; he also talked about the bank's future plans in new locations and mobile banking. Source
According to TechCrunch, scammers are using Zelle to take advantage of customers; a seller of a product who is attempting to defraud customers will ask a customer to pay using Zelle instead of PayPal; many users are not aware that Zelle does not provide some of the same buyer protections that PayPal has been known for; Zelle is more similar to Venmo for transferring money to those you trust. Source
With the huge amount of data available today is large scale borrower fraud a thing of the past? Peter Renton,...
Operation Fox Hunt is the coordinated effort by Chinese police to search the region to find p2p fraudsters as the...
Indonesia’s p2p lending market has had a number of issues including very high interest rates, fraud, aggressive debt collection and...