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MPs Accuse Lloyds Execs Of HBOS Fraud ‘Cover-Up’

PYMNTS

The letter also calls on the Financial Conduct Authority (FCA) to investigate Lloyds Chief Executive Antonio Horta-Osorio, claiming he knew about the ongoing fraud as far back as 2011, but failed to initiate an investigation. Reports in City A.M. The scam has already led to the imprisonment of several former executives.

Fraud 122
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Lessons Learned From the Fourth United States Bank Failure of 2023

Perficient

In 2011, Hanes put together a local investment group that purchased the bank from its former holding company, and he became President and CEO of the new bank. Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday.

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Denmark’s Ex-Finance Regulator Charged In Money Laundering Scandal

PYMNTS

Henrik Ramlau-Hansen, the former chair of Denmark’s financial regulator and former Danske Bank finance director, has been charged by Danish economic prosecutors. He resigned in 2018 at the same time a scathing Danske report from the regulator was issued. He has recused himself from the investigation.

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Model governance comes to fraud detection

Insights on Business

Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance. Unlike the latter areas, fraud prevention is an area not as heavily governed by regulations or specific rules of what a financial institution should or should not allow.

Fraud 102
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India Brings Charges In Punjab National Bank Fraud Case

PYMNTS

The Central Bureau of Investigation (CBI), India’s main investigative agency in the country, has filed charges in the Punjab National Bank fraud case against Nirav Modi, the jewelry retail owner, and his uncle Mehul Choksi, as well as senior executives at the state-run lender.

Fraud 100
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PAAY Partners With Bluefin To Further Secure eCommerce Transactions

PYMNTS

New York-headquartered PAAY, a consumer authentication innovator co-founded in 2011 by James Ruffer and Yitz Mendlowitz, has a new security solution that aims to obliterate hacking and fraud threats. Further, online sellers have been tackling chargeback fraud, which could account for about 86 percent of all chargebacks.

Security 233
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FinCEN AML/CTF Priorities Part 6: Transnational Organized Crime (TOC)

Abrigo

The activity stretches from crimes we know, such as phishing, internet auction fraud, and advanced fee schemes to human trafficking, illegal trade in natural resources (diamonds, timber, etc.), BSA Rules and Regulation. BSA Rules and Regulation. Fraud Prevention. Fraud Trends. BSA Rules and Regulation.

Training 195