Browsing: scheme

Key insight: Dechanta Benning established a shell company and used mobile deposit technology to cash stolen checks, a methodology becoming standard for fraudsters.Supporting data: The American…

What’s at stake: A Brooklyn banker admitted to bypassing know-your-customer protocols to open accounts for shell companies that billed Medicare for fake claims. Key insight: The relationship…

Key insight: Beyond courier scams, banks are battling “card cracking” schemes where fraudsters solicit credentials from young users on social media to deposit worthless checks.Expert quote:…

Key insight: The conspiracy used “Ploutus” malware to force ATMs to dispense cash without debiting accounts, specifically targeting older Diebold Nixdorf terminals.What’s at stake: Prosecutors allege…

Key insight: A Luxembourg court ruled HSBC owes restitution to a Madoff investor fund, finding the bank was negligent in its custodial role.Supporting data: The $1.1…

Key insight: The case against Berkshire Bank, which includes unusually detailed allegations, represents the latest test of the law in cases where bank customers commit fraud.Supporting…

Pump-and-dump scheme: What it is and how to avoid one Source link

First Northwest Bancorp CEO Matthew Deines rejected claims his company participated in a $100 million Ponzi scheme. Sean Gladwell/Getty Images/Hemera The CEO of First Northwest Bancorp…

In June 2024, an employee at Park Side Credit Union in Missoula, Montana, made an unusual discovery: $340,000 of cash in the vault was nothing but…

Pennsylvania law enforcement charged 24 suspected members of a fraud ring that has stolen more than $3 million from banks and their customers, the state’s attorney…