The Fintech Times
AUGUST 31, 2024
Eric Jardine, cybercrime research lead at Chainalysis “Taken together, these two data points strongly suggest that scammers are pivoting away from elaborate ponzi schemes that cast a wide net, to more targeted campaigns like romance scams or address poisonings,” explained Eric Jardine , cybercrime research lead at Chainalysis.
The Payments Association
OCTOBER 28, 2024
Romance scams, though smaller in number, are notable for their emotional and psychological toll on victims. In these scams, fraudsters develop a relationship with their target, often over a prolonged period, before fabricating personal crises to solicit financial help. Losses from romance scams amounted to £14.5
Fintech Finance
NOVEMBER 13, 2024
Authorised Push Payment (APP) fraud continues to be one of the most pressing concerns for financial services, the payment industry, law enforcement and the general public – and new developments in cross-border payments may be making it easier.
FICO
FEBRUARY 19, 2020
The ability to move money through multiple accounts quickly, makes it difficult for law enforcement to track criminal proceeds. It is not a new type of fraud, but the speed in which criminals can access the money they have scammed and the irrevocable nature of such payments makes it more attractive.
Fintech News
FEBRUARY 21, 2024
The introduction of more sophisticated fraud detection technologies and a growing awareness among investors about the risks of scamming tactics contributed to this downward trend. These tools have enabled law enforcement agencies to trace the flow of funds, unmasking the networks behind criminal operations.
PYMNTS
JUNE 10, 2019
The group has evolved from a “one-man shop” that originally scammed victims on Craigslist , and now has dozens of fraudsters targeting smaller firms through BEC — with an emphasis on U.S. The fraud evolved into romance scams a few years later, then BEC scams in 2015. “I companies and government agencies.
Neopay
MAY 28, 2024
The financial services sector is at the forefront of efforts to protect customers from fraud, including partnering with other sectors, government and law enforcement to prevent and disrupt this criminal activity and bring perpetrators to justice. Purchase scams account for 67 per cent of the total number of APP cases.
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