Fraud is getting more sophisticated, thanks to artificial intelligence (AI). Fraud can be perpetrated in the form of deepfake videos or voice, with AI producing a clone of a family relative supposedly in an emergency and needs a cash transfer immediately. AI can write more...
According to digital records, a prominent member of Elon Musk’s Department of Government Efficiency (DOGE) team has links to an alleged cybercrime organization. A Wednesday (March 26) Reuters report alleges that Edward Coristine, a 19-year-old who goes by the alias “bigballs” online, provided security support to a...
Financial institutions should watch for suspicious activity that may indicate relationship investment scams and should use specific Suspicious Activity Report (SAR) filing instructions and key terms to help law enforcement detect these scams, the Financial Crimes Enforcement Network (FinCEN) said in a Wednesday (Feb. 26)...
The founder of artificial intelligence (AI) firm GameOn has been charged with defrauding his company’s investors. The FBI last week charged Alexander Beckman, the company’s former CEO, with offenses including conspiracy, wire fraud, securities fraud and identity theft. Also charged was Valerie Lau Beckman, who...
April 16, 2025
Fraud is getting more sophisticated, thanks to artificial intelligence (AI). Fraud can be perpetrated in the form of deepfake videos or voice, with AI producing a clone of a family relative supposedly in an emergency and needs a cash transfer immediately. AI can write more convincing phishing emails, removing telltale signs such as broken English. […]
August 30, 2024
Contemporary businesses operate in an era marked by surging cyberthreats and data breaches. That’s according to a Thursday (Aug. 29) joint cybersecurity advisory by the FBI, the Cybersecurity and Infrastructure...
September 21, 2023
Where new technology and new payment preferences arise, the hackers and scammers are sure to follow. Where technology helps connect consumers to apps and payment schemes, new attack vectors arise....
July 06, 2021
More businesses and consumers are conducting their daily tasks and transactions online, meaning offering seamless digital experiences is becoming increasingly important for today’s financial institutions (FIs). This also means banks...
April 24, 2025
Ransomware remains the top threat to American infrastructure, with complaints in 2024 rising 9% above 2023’s total, the FBI said Wednesday (April 23). A report from the FBI’s Internet Crime Complaint Center (IC3) stated that despite international law enforcement efforts to disrupt ransomware operators and cybercrime forums, criminals are targeting critical sectors, including manufacturing, financial […]
March 26, 2025
According to digital records, a prominent member of Elon Musk’s Department of Government Efficiency (DOGE) team has links to an alleged cybercrime organization. A Wednesday (March 26) Reuters report alleges that Edward...
February 26, 2025
Financial institutions should watch for suspicious activity that may indicate relationship investment scams and should use specific Suspicious Activity Report (SAR) filing instructions and key terms to help law enforcement...
January 26, 2025
The founder of artificial intelligence (AI) firm GameOn has been charged with defrauding his company’s investors. The FBI last week charged Alexander Beckman, the company’s former CEO, with offenses including...
