Latest coverage for Fraud

Authorities in at least two U.S. states last week independently announced arrests of Chinese nationals accused of perpetrating a novel form of tap-to-pay fraud using mobile devices. Details released by authorities so far indicate the mobile wallets being used by the scammers were created through online phishing scams, and that the accused were relying on a custom Android app to relay tap-to-pay transactions from mobile devices located in China.

Made up revenue and pretended to use non-existent data The former CEO of Kubient, an advertising tech company that developed a cloudy product capable of detecting fraudulent ads, has been jailed for fraud.…

How Strong AML and Fraud Prevention Controls Can Differentiate Your Fintech and Help You ScaleAs fintechs and financial institutions navigate an increasingly complex payments ecosystem, robust AML and fraud prevention controls are no longer just a compliance necessity—they’re a strategic advantage. Discover how risk-based frameworks, intelligent detection systems, and stronger partnerships can enhance trust, streamline operations, and safeguard against evolving financial crime threats.

Experts Weigh the Advantages and Risks of Generative Adversarial NetworksWith traditional rule-based fraud detection systems and even conventional machine learning models struggling to identify these highly deceptive fraud patterns, financial institutions are exploring generative adversarial networks to enhance fraud detection.

February’s Operation Henhouse resulted in hundreds of arrests and the seizure of £7.5m

Cybersecurity researchers have warned about a large-scale ad fraud campaign that has leveraged hundreds of malicious apps published on the Google Play Store to serve full-screen ads and conduct phishing attacks

At least four different threat actors have been identified as involved in an updated version of a massive ad fraud and residential proxy scheme called BADBOX, painting a picture of an interconnected cybercrime ecosystem

Action Fraud reported a spike in social media and email account hacks in 2024, resulting in losses of nearly £1m

From sophisticated nation-state campaigns to stealthy malware lurking in unexpected places, this week’s cybersecurity landscape is a reminder that attackers are always evolving. Advanced threat groups are exploiting outdated hardware, abusing legitimate tools for financial fraud, and finding new ways to bypass security defenses. Meanwhile, supply chain threats are on the rise, with open-source