PYMNTS

MARCH 14, 2019

Facebook is the subject of a criminal investigation by federal prosecutors over the data deals it inked with some of the biggest technology companies, reported The New York Times. Facebook has been working to remove the partnerships during the past two years, reported The New York Times. Privacy advocates contend it does.

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American Banker

APRIL 3, 2024

Letitia James, the New York state attorney general, sued Citigroup and argued it should be liable for fraud cases involving consumer wire transfers. But Citi said the AG's view would bring about a "sea change in banking law."

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Fraud New York Compliance Payments 81

Abrigo

MARCH 4, 2022

Synthetic ID fraud is growing quickly and hurts FIs and customers Knowing the schemes associated with synthetic identity fraud and how criminals avoid detection can help minimize losses. Takeaway 1 Synthetic identity fraud is a growing form of identity theft in which an individual is impersonated by using stolen information.

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PYMNTS

JUNE 18, 2018

Square , the payments company founded by Jack Dorsey, has received a license to enable residents in New York state to buy and sell bitcoin via its Cash App. In a press release , the New York State Department of Financial Services Superintendent Maria T.

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Perficient

NOVEMBER 30, 2022

Our Payments Practice recently had the opportunity to represent Perficient at the 2022 Real-time Payments & Fraud Management Summit held in New York City. . The conference was attended by several Financial Institutions, Service Providers, Fintechs, and Industry Regulators.

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American Banker

SEPTEMBER 26, 2023

A New York judge ruled Donald Trump is liable for fraud for exaggerating his net worth by billions of dollars a year on financial records submitted to banks and insurers, a major victory for the state's attorney general before a high-stakes civil trial over remaining claims in the case.

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Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud.

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Bank Innovation

MAY 24, 2018

Artificial intelligence, machine learning, and compliance were some of the topics that dominated day 1 of fintech conference Data Disrupt, taking place in New York. The panel “Consumer Finance: Fighting Fraud with Fire” brought together three fintech companies, who discussed different methods of combating fraud.

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PYMNTS

MAY 18, 2020

Mastercard has announced a series of consumer protections aimed at protecting customers and merchants from fraud at fuel stations. The enhanced consumer protection program was designed to provide merchants and banks with tools to help them navigate the heightened risk of fraud, Mastercard said.

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PYMNTS

FEBRUARY 9, 2020

Chainalysis, the New York-based firm that works with clients like the Federal Bureau of Investigations in order to track scams and fraud, said the trend has been that Ponzi schemes mimicking investment opportunities have proven effective at leeching money away from victims.

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PYMNTS

JUNE 10, 2020

The Federal Trade Commission sued two New York small-business lenders Wednesday (June 10) for allegedly using deceptive terms in loans to companies, nonprofits, religious groups and medical offices, and threatening violence and personal-asset seizures to collect funds. A 14-page complaint filed in the U.S.

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CFPB Monitor

DECEMBER 6, 2022

Earlier this year, New York delayed the effective date of its new law requiring card issuers to provide a grace period for using credit card rewards points that was slated to be effective later this week. The delay means that the effective date of the new law is now December 10, 2023.

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American Banker

APRIL 15, 2024

In an ongoing case, Citi and the New York attorney general are disputing who is responsible for wire transfer fraud that drained a customer's retirement savings.

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PYMNTS

SEPTEMBER 24, 2019

The CEO and founder of the New York payroll company MyPayrollHR was arrested and charged Monday (Sept. 23) in a $70 million bank fraud scheme that left hundreds of small businesses across the country scrambling, The Wall Street Journal reported. 5 after Mann’s banks, suspecting him of fraud, froze his accounts, authorities said.

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PYMNTS

DECEMBER 23, 2020

Two owners of a dozen New York City-area pharmacies have been charged for their reported involvement in a $30 million health care fraud and money laundering scheme, a press release Tuesday (Dec. 22) from the Department of Justice said. Khaimov was separately charged with two counts of concealment money laundering.".

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PYMNTS

DECEMBER 23, 2019

SWIFT’s decision to open up the registry also reflects the growing threat of fraud in corporate payments. Below, PYMNTS explores the latest cases of business payments and financial fraud bogging down businesses large and small this holiday season. Canada, Mexico, Sweden, Australia and South Africa.

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PYMNTS

FEBRUARY 9, 2020

5) to one charge of conspiracy to commit wire fraud, stating that he assisted New York-based MyPayrollHR CEO and Founder Michael Mann defraud two companies, according to multiple reports last week. Mann allegedly was the leader of a bank fraud racket worth millions, which eventually cost him MyPayrollHR, his Clifton Park, N.Y.

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PYMNTS

NOVEMBER 23, 2018

To counter fraud as the holiday season approaches, Best Buy , Target and Walmart made changes to their gift card programs. The moves were announced by the attorneys general of Pennsylvania and New York, Reuters reported. They also come amid an initiative to take on fraudsters that has run for a year. “By

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Fraud Cards Retail New York 156

PYMNTS

APRIL 10, 2017

New York’s financial regulator had a bold claim to offer over the weekend — she claimed that other states should use New York’s sweeping cybersecurity rules as a model for how insurers must protect their networks from hackers. New York also has clear guidelines for when and how firms have to report when there are hacks.

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PYMNTS

FEBRUARY 24, 2020

According to the latest research from Bottomline Technologies, businesses said the fraud threat is on the rise. Meanwhile, Forbes reported separate analysis from North Carolina State University warning that as pressure mounts for chief financial officers to hit their financial targets, they’re less likely to report fraud.

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PYMNTS

SEPTEMBER 16, 2019

So now, the investigation deepens and broadens, with payroll fraud under the microscope. As reported by NBC News , the investigations were confirmed, separately, by spokespeople for the FBI’s Albany, New York office and the labor department.

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PYMNTS

JANUARY 13, 2020

Approximately $185,000 worth of payroll fraud hit a Minnesota company, with local reports noting that a bookkeeper allegedly manipulated payroll data to overpay her salary. This week, cybersecurity publication Naked Security reported that $6 million was stolen from a New York company via invoice fraud.

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Perficient

FEBRUARY 10, 2021

On January 21, 2021, Kirsten Lemke from Kyriba and I were guest presenters at TMANY (Treasury Management Association of New York) for a lunch and learn. Is the fraud detection or prevention tool part of the TMS or the ERP system? Is the fraud detection or prevention tool part of the TMS or the ERP system?

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New York Fraud Tools System 309

PYMNTS

JULY 8, 2020

Adding to the series of legal difficulties for Wirecard , the Justice Department is looking to see if the German payments company had an essential part in a purported $100 million bank fraud case involving a digital cannabis firm, The Wall Street Journal reported, citing unnamed sources. The FBI’s New York field office and the U.S.

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PYMNTS

MAY 31, 2019

’s Metro Bank on behalf of investors concerned that the institution committed securities fraud. Reports in The Guardian on Thursday (May 30) said Pomerantz and Levi & Korsinsky, both based in New York, have opened these investigations, joining Glancy Prongay & Murray, which confirmed it launched a probe earlier this month.

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Metro Fraud New York Security 162

PYMNTS

FEBRUARY 21, 2020

New York Attorney General Letitia James announced plans to sue New York City for allegedly fraudulent practices by its Taxi and Limousine Commission (TLC), according to reports on Thursday (Feb.

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Payments Source

JULY 16, 2020

banks and merchants hardest with bogus credit card applications in April, while most consumers were in full pandemic lockdown, according to new data from New York-based fraud-detection firm Socure. Fraudsters hit U.S.

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Fraud Cards New York Report 97

CFPB Monitor

JANUARY 24, 2019

According to an American Banker report , Chris D’Angelo, the CFPB’s Associate Director of Supervision, Enforcement and Fair Lending, has announced that he is leaving the Bureau to serve in the Office of the New York Attorney General as Chief Deputy Attorney General for Economic Justice. Consumer Frauds & Protection.

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New York Report cryptocurrency Lending 60

PYMNTS

OCTOBER 24, 2019

The closure of New York-based payroll processing firm MyPayrollHR left some 8,000 people and about 400 companies without their paychecks. 23 and faces federal charges of committing $70 million in bank fraud, according to the U.S. attorney’s office for Northern New York. 28 and Sept. District Court Sept.

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PYMNTS

MAY 10, 2019

Following a claim of fraud by a short seller, shares in eCommerce firm Jumia fell by almost 25 percent by midday New York time on Friday (May 10) and traded at $20.30 The company filed for an initial public offering (IPO) on the New York Stock Exchange in March. at one point, the Financial Times reported.

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Fraud New York Report Security 124

PYMNTS

OCTOBER 21, 2019

Corporate fraud comes in many colors, but for many businesses, the most unexpected threat is the one looming from within company walls. This week, IBM announced a collaboration with Raw Seafoods to develop a blockchain solution to address supply chain fraud in the seafood industry, including cases of incomplete documentation and mislabeling.

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PYMNTS

JANUARY 29, 2019

prosecutors have filed criminal charges against China’s largest technology company, accusing it of stealing trade secrets and committing bank fraud. In a 13-count indictment filed in Brooklyn, New York, the U.S. 1 in Canada on fraud allegations. Meng, the daughter of the company’s founder, was arrested Dec.

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PYMNTS

FEBRUARY 21, 2020

In today’s top payments news, the New York attorney general accused the Taxi and Limousine Commission of drastically inflating the price of taxi medallions, and Apple is debating letting users change their default apps. NYC Taxi Commission Accused Of $810 Million Fraud. Apple Considers Letting Users Change Default Apps.

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Apple Samsung Fraud New York City 150

PYMNTS

JUNE 14, 2020

Three merchant cash advance companies are facing a lawsuit from New York Attorney General Letitia James over reportedly practicing illicit measures when loaning money to clients, according to a press release. The three companies charged are Richmond Capital Group, Ram Capital Funding and Viceroy Capital Funding.

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PYMNTS

FEBRUARY 21, 2018

We allege that BitFunder operated unlawfully as an unregistered securities exchange,” Marc Berger, director of the SEC’s New York regional office, said in the release. Mehraban, associate regional director of the SEC’s New York regional office, said in the release. “We In a parallel criminal case, the U.S.

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PYMNTS

JUNE 13, 2019

Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they’re least expected. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud. It helps.”.

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PYMNTS

NOVEMBER 15, 2016

New York City has a new fighting chance against the proliferation of cyber fraud in the form of a state-of-the-art, $10 million digital crime laboratory. The New York district attorney’s office estimates that over a quarter of its cases annual involve digital evidence — and the trend is growing.

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