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NYC Taxi Commission Accused Of $810 Million Fraud

PYMNTS

These taxi medallions were marketed as a pathway to the American Dream, but instead became a trapdoor of despair for medallion owners harmed by the TLC’s unlawful practices,” she added. . The TLC had said medallions were investments “with greater returns than the stock market,” a statement from the attorney general’s office alleges.

Fraud 223
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Ex-Barclays Head Is Acquitted In Fraud Trial

PYMNTS

Former Barclays boss John Varley has been acquitted in a fraud trial regarding payments made to Qatar while the financial crisis was in full swing, according to a report by the Financial Times. billion but that the deal was not disclosed properly to the market or other investors, and that it secretly paid Qatar £322 million.

Fraud 108
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Mexico’s B2B Payments Opportunity As A Global eInvoice Leader

PYMNTS

Mexico’s eInvoicing requirements began back in 2004, when its tax authority, the SAT, first developed its eInvoicing legal framework. Its eInvoicing traction isn’t the only way the Mexican market differentiates itself from the U.S. For accounts payable, it’s a one-stop-shop to make a payment.”.

Payments 144
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BEC Scam Storms The Sports Field (Literally)

PYMNTS

Anecdotal evidence pf questionable spend includes examples spanning invoices for IT equipment five times the market price, payments for expired contracts and invoices from debarred suppliers (contractors that the government will no longer work with). In Canada – and in the US, too.

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EMV migration myths: three lessons for the US market

Banking 2020

This has posed problems, not least the fact it’s the only country in the world where counterfeit card fraud losses are rising. So what can the US market expect to happen after the liability shift? Counterfeit card fraud to drop. In the UK, losses from domestic counterfeit card fraud fell straight away.

US 40
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Kleptocracy & Foreign Public Corruption: New FinCEN Red Flags

Abrigo

The Financial Crimes Enforcement Network ( FinCEN ) has profiled this global issue by naming corruption one of the eight national security priorities. Securities and Exchange Commission launched investigations into political corruption and started legislative efforts to thwart such acts. financial system. In the 1970s, the U.S.

Training 195
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Robocalls Go Unpunished, Exposing Regulatory Gaps

PYMNTS

The FCC, according to the newspaper story, has since 2004 collected some $121 million in penalties for robocalls and other prohibited telemarketing behaviors. billion the federal agency “secured” via fines and court judgements — or about 8 percent. There does exist a brighter part of this story, though — at least for foes of robocalls.