Barclays, RBS, HSBC, Credit Suisse, UBS fined for forex trading cartel

The financial offices of banks are pictured in the financial district of Canary Wharf from Greenwich Park in London on January 17, 2017. Ben Stansall | AFP | Getty Images The European Commission has fined five banks for their participation in an illegal foreign exchange cartel. The commission said in a statement on Thursday that … Read more

Criminals exploit buy now, pay later services like Klarna and Afterpay

The Klarna logo is displayed on the phone screen. Jacob Borzeki | Norfoto | Getty Images London – buy now, pay later services are not only popular among consumers. They have also proven to be a huge hit with criminals. Fraudulent activity is on the rise on some of the industry’s largest buy now and … Read more

U.S. selling seized cryptocurrency in BitConnect fraud case

Signs at the US Department of Justice headquarters in Washington, DC, August 29, 2020. Andrew Kelly | Reuters US authorities said Tuesday that the US Department of Justice will sell $56 million worth of cryptocurrency seized as part of a massive Ponzi scheme case against a man who promoted offshore lending program BitConnect, authorities said. … Read more

Ohio AG accuses Facebook of securities fraud for misleading investors

Facebook Chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington, October 23, 2019. Erin Scott | Reuters Meta, formerly known as Facebook, is facing new charges from investors for allegedly violating federal securities laws by making inaccurate statements about the harm its products can cause. The lawsuit from Ohio … Read more

Bitcoin ATMs: Criminals target cryptocurrency transactions

Law enforcement officials say criminals are taking advantage of bitcoin ATMs across the country, using convenient and largely anonymous transactions for drug smuggling, money laundering, and a variety of fraud. The hardware, mostly found in stores and owned by private companies, allows customers to easily buy bitcoin and other cryptocurrencies with cash. The funds are … Read more

Zuckerberg says other tech firms stifle innovation with high fees

Mark Zuckerberg, Chairman and CEO of Facebook, arrives to testify before the House Financial Services Committee on “Facebook’s Examination and Its Impact on the Financial Services and Housing Sectors” at Rayburn House office building in Washington, DC on October 23, 2019. Mandel Ngan | AFP | Getty Images Facebook founder Mark Zuckerberg accused other tech … Read more

FCC looking at proposal to stop robotexts

FCC Commissioner Jessica Rosenworsel testifies before the House Energy and Commerce Committee’s Communications and Technology Subcommittee at Rayburn House office building on Capitol Hill on December 5, 2019 in Washington, DC. Chip somophila | Getty Images The Federal Communications Commission announced Monday that the FCC will soon consider a proposal to ban bot scripts. Many … Read more

Covid-related scams have bilked Americans out of $586 million

boonchai wedmakawand | moment | Getty Images Consumers lost $586 million to fraud related to the COVID-19 pandemic, according to data from the Federal Trade Commission. Americans filed more than 269,000 fraud complaints from the beginning of 2020 to October 14, 2021, according to the latest federal data. (Consumers mentioned Covid, stimulus, or related terms … Read more