Reported by Filip De Mott The market needs to embrace short sellers if it wants to free itself of fraud, Carson Block told Bloomberg TV. But being a contrarian right now is a challenge, with short sellers increasingly out of place in the latest bull rally, the Muddy Waters founder said. Where sellers profit by betting […]
Reported by Samantha Leathers As Amazon Prime Day rolls around, bargain hunters are out in force, but they’re not the only ones on the prowl cyber scammers are also looking to cash in on the frenzy. Vonny Gamot, Head of EMEA at online protection firm McAfee, has dished out advice on how Brits can sidestep the scammers during […]
Reported by KIM ZETTER US telecom giant AT&T, which disclosed Friday that hackers had stolen the call records for tens of millions of its customers, paid a member of the hacking team more than $300,000 to delete the data and provide a video demonstrating proof of deletion. The hacker, who is part of the notorious ShinyHunters […]
Reported by Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB) today took action against repeat offender Fifth Third Bank for a range of illegal activities that would result in the bank paying $20 million in penalties in addition to paying redress to approximately 35,000 harmed consumers, including about 1,000 who had their cars […]
Reported by Terri Miller, Consumer Education Specialist, FTC Did someone supposedly spot fraud or criminal activity on one of your accounts? Did they offer to help “protect” your money by moving it from your bank, investment, or retirement account? Maybe they even asked you to share a verification code? If anyone did any of those things, it’s […]
Reported by FinTech Global FullCircl, which offers a SaaS platform to support regulatory and verification processes, recently offered a guide on customer due diligence regulations. Regulatory bodies across the globe mandate and oversee these CDD processes to uphold the transparency and integrity of business dealings. Key players include the Financial Action Task Force (FATF), which sets […]
Reported by Joe Miller and Joshua Franklin A New York jury has found former Wall Street trader Bill Hwang guilty of fraud and market manipulation, more than three years after the implosion of his fund Archegos sent tremors through global equity markets and left major banks nursing billions of dollars in losses. The verdict on Wednesday came […]
Reported by Jason Branning, CFP, RICP Retirees need to be aware of emerging threats from the stories that are transmitted through various technologies. These threats could impact online security and gain access to your bank savings or investment accounts. Understanding that there are trapdoors that can be accessed or exploited through the technology is widely […]
Reported by Joe Miller Prosecutors on Monday urged a Manhattan jury to find Archegos founder Bill Hwang guilty of fraud and market manipulation, alleging that he “behaved as though the rules did not apply to him” by artificially inflating stock prices in a scheme that left banks with billions of dollars of losses. The collapse […]
Reported by Greg Iacurci Employment scams surged last year, as criminals leveraged artificial intelligence to steal money and personal information from unsuspecting job seekers, experts said. Consumer reports of job scams jumped 118% in 2023 from the prior year, according to a recent report by the Identity Theft Resource Center. Thieves generally pose as recruiters and post fake job listings to […]
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