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Latest fraud publications


Identity and AI: The recipe for a strong fraud defence

The market has long demanded quicker and more convenient payment methods, and the industry is now answering with ubiquitous payments. Yet at what cost? PSD2 and open banking are now established in the legislative framework, and many third-party providers are springing up with new offerings that democratise access to payments and offer complementary value-added services.

Banks and other financial organisations are already seeing a surge in the volume and value of electronic transactions through digitalisation. And new channels, like PSD2, are set to exacerbate the pressure on existing fraud defences. Faster payments, through SWIFT gpi and other means, virtually eliminate the window of investigation. And, therefore, necessitate automated real-time detection.


Global ad fraud scheme cashed in $7 million using data centre “methbot”

Criminal group’s methbot scheme rented more than 1,900 computer servers hosted in Dallas data centres to load ads on fabricated websites A major fraud operation which caused businesses millions of dollars in losses from falsified ad revenue has been dismantled by US authorities. Two global cybercrime rings were uncovered resulting in the indictment of eight men on… Read More


Bitcoin firms to pay $10 million for Ponzi scheme

The U.S. District Court has issued a final judgement against two Connecticut-based bitcoin mining companies, ruling that each was run as a Ponzi scheme. GAW Miners and ZenMiner must each pay $10.3 million in disgorgement and prejudgment interest, in addition to a civil penalty of $1 million. Both GAW Miners and ZenMiner were founded by… Read More


Free Android app protects Chinese from phone scams

A new app, developed by a team from Pujiang Tech in the Shenzhen province, helps Chinese citizens recognize and report phone scams and other telecoms fraud. Vanguard Against Scams is a free app for Android phones that records and stores any calls from an unrecognized number for up to 72 hours. Users can share the… Read More


New gadget can clone 15 contactless cards a second

A new scanner device is being sold on the black market to thieves looking to steal personal information from contactless payment cards, including bank account details, names and addresses. The gadget is able to capture credit and debit card numbers, and can read other personal information displayed on the cards. In some cases, mini-statements can… Read More



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