Scams
137 articles
US Banks Witness 1,000% Surge in Digital Scams As JPMorgan Chase, Wells Fargo and Bank of America Customers Lose $166,000,000 on Zelle in One Year: Report
US banks are witnessing a massive surge in sophisticated digital scams, according to a new report. The number of social engineering scams targeting both US and Canadian bank customers has…
JPMorgan Chase Refuses To Reimburse Customer After $7,000 Abruptly Drained From Bank Account: Report
A JPMorgan Chase customer says the bank has refused to reimburse him for more than a year after $7,000 was suddenly drained from his account. Grant Holihan says he believes…
Hackers Infect 8,000,000 Smartphones As ‘SpyLoan’ Drains Bank Accounts, Steals Sensitive Data for Extortion: McAfee Alert
Cybersecurity firm McAfee says it’s identified a “significant global increase” in a smartphone hack that triggers extortion, harassment and drains bank accounts. McAfee says hackers are increasingly deploying a group…
$600,000 Drained From Woman’s Bank Accounts As Morgan Stanley, JPMorgan Chase Issue Repeated Warnings To Customer: Report
An elderly woman has lost her life savings to a sophisticated scam amid warnings from JPMorgan Chase and Morgan Stanley, according to a new report. Retired therapist Judith Boivin lost…
US Treasury Takes Action Against Five Individuals Who Allegedly Used USDT To Evade Sanctions for Russian Elites
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) is holding accountable five individuals linked to a money laundering network that enabled Russian elites to circumvent international sanctions. In…
Man Loses £75,000 To Deepfake Elon Musk Investment Scheme: Report
A man says he’s lost his entire life savings and incurred extensive debt after falling for a fraudulent investment scheme featuring celebrity deepfakes. Kitchen builder Des Healey saw a fraudulent…
$304,500 in Counterfeit Cash Seized at New York Airport, Triggering Secret Service Investigation
The Secret Service has been called in to investigate the discovery and seizure of $304,500 in fake U.S. currency at JFK International Airport in New York. U.S. Customs and Border…
644,869 Records on American Citizens Exposed As Massive Data Breach Reveals Full Names, Addresses, Emails, Employment Details, Social Media Accounts, Phone Numbers and Criminal Records: Report
A security researcher says he has discovered a massive, unprotected database online containing 644,869 files with extremely sensitive data on American citizens. Jeremiah Fowler says he recently found the non-password…
$16,800,000 Drained From Official Bank Accounts As Uganda Central Bank Hacked: Report
Uganda’s central bank just confirmed rumors of a hack, revealing a trove of cash has been drained from the nation’s official bank accounts. The Bank of Uganda says police are…
Wells Fargo Issues Fraud Warning As Scammers Drain $503,910,000 From US Banks in Three Months
Wells Fargo is issuing a warning to US bank customers as new numbers shed light on the amount of fraudulent transfers hitting Americans’ bank accounts. In a new op-ed, Wells…
Senior Fed Official Pockets $770,000 in Insider Trading Scheme, Faces 25 Years in Prison: US Department of Justice
An ex-bank examiner and senior manager at the Federal Reserve Bank of Richmond (FRBR) could spend decades behind bars for using confidential information to trade shares of US banks. The…
Billionaire’s $13,000,000,000 Fortune Allegedly Vanishes Amid Accusations of Decades-Long Fraud and Betrayal
An 81-year-old heir to the Hermès fortune says he’s lost a staggering $13 billion in assets. Nicolas Puech says he is completely unable to track where his six million Hermès…
$1,900,000 To Be Handed To Victims of ‘Free Credit Report’ Scam That Conned 42,849 People
The Federal Trade Commission (FTC) is preparing to send a total of $1.9 million to victims of an alleged free credit report scam. The FTC says 42,849 victims will receive…
Bank Executive Steals $60,181 From Dead Customer’s Account, Tells Colleagues He’s in Touch With Client: Report
A former executive at the seventh-largest bank in the US just admitted to taking tens of thousands of dollars from a deceased customer’s account. Former PNC bank manager Lamont Hankins…
Police Issue Warning Against ‘Grandparent Scam’ After Elderly Man Loses $9,500 To Thief Posing As His Grandson: Report
Law enforcement officers are sounding the alarm over a scam designed to drain the life savings of elderly victims. Pennsylvania police say an 86-year-old resident lost $9,500 to a person…
8,100 Banks and Financial Institutions Brace for Fallout As Hackers Reveal Major Data Breach on Dark Web: Report
Thousands of banks and financial institutions around the world are bracing for new developments on a third-party data breach. The financial services giant Finastra has confirmed it detected “suspicious activity”…
Five Alleged Scammers Federally Charged With Running Crypto Phishing Scheme by DOJ
The Department of Justice (DOJ) recently unsealed charges against five alleged scammers for running a crypto phishing scam that cost victims millions of dollars. According to a new press release…
Bankrupt Crypto Exchange FTX Set To Begin Paying Creditors and Customers in Early 2025, Says CEO
The CEO of fallen crypto exchange FTX says the firm will begin distributing its bankruptcy payments soon. In a statement, John Jay Ray III says payments to FTX creditors and…
Former FTX Executive Gary Wang Avoids Prison Time After Building Crypto Surveillance Tools for Government: Report
The former chief technology officer of disgraced crypto exchange FTX is dodging prison time by cooperating with the US government. According to a report from Reuters, Wang – a computer…
Alleged Corrupt Los Angeles Police Officers Implicated in Crypto ‘Godfather’ Extortion Scheme
The founder of a crypto trading platform allegedly relied on corrupt Los Angeles Sheriff’s Department (LASD) deputies to facilitate extortion schemes and other crimes. Recent court documents indicate that the…
BTC Launderer Given ‘Lenient’ Three-Year Prison Sentence for Assisting With Bitcoin Fog Case: Report
A man who laundered millions of dollars worth of Bitcoin (BTC) has been sentenced to three years in prison after assisting authorities with another high-profile crypto laundering case. According to…
Nearly One-Third of All Customers at US Banks Have Experienced Fraud in Last 12 Months: Study
A massive chunk of all US banking customers have recently experienced some type of fraud on their accounts, according to a new study. Consumer insights and analytics firm J.D. Power…
$500,000 Drained From American Bank Accounts As Insider Allegedly Steals Customers’ Sensitive Information, Sells Trove To Accomplices on Telegram: Manhattan District Attorney
An employee at US banking giant has been indicted, accused of stealing sensitive information from the lender’s customers and sharing it with accomplices. Manhattan District Attorney Alvin Bragg says Daria Sewell…
Infamous Crypto Hacker Behind Nearly $11,000,000,000 Bitfinex Exploit Sentenced to Five Years in Prison
The notorious hacker behind the massive $10.934 billion exploit of crypto exchange Bitfinex is being sentenced to five years in prison. According to a new press release by the U.S.…