Bank Defrauded Out of $157,256.92
Batch Processes in Core Banking Systems Becoming a Major Issue Clarence Wigfall Jr., from Granite City Illinois, has admitted to defrauding a bank out of more than $157,000. According to the [...]
Fraud Investigator Facing 14 Fraud-Related Charges
Could This Real-Time Fraud Detection and Prevention System Have Stopped Him? Steven Knigge, a retired fraud investigator with the South Dakota Department of Revenue, is facing fraud-related [...]
$1.2 Million Insider Fraud Alleged At Pennsylvania Credit Union
Two New Columbia Pennsylvania residents were indicted on charges of insider fraud against Nu Community Credit Union and its members out of $1.2 million over the course of several years. The duo, [...]
Bank Identification Number (BIN) Attacks How to Detect and Prevent Them
There are various ways fraudsters can get someone’s credit card information nowadays. Since most transactions are done digitally, financial institutions are becoming more alarmed about these [...]
This PII and Bank Fraudster is Looking at a Possible 120 Years Behind Bars
Following a five-day bench trial, Olayinka Peter Olaseinde of Rhode Island was convicted of a bank fraud conspiracy targeting financial institutions, businesses and private individuals. His [...]
$12 Million Fraudster Who Targeted Banks and Credit Unions Sentenced
Christopher A. Montalbano of Vestavia, AL, has been sentenced to 180 months (15 years) imprisonment for his role in a massive bank and credit union fraud scheme. In addition to his sentence, [...]
Debit Card Holders Victimized by BIN Attack
Bank and Credit Union fraud teams should be on the lookout for the rise in Bank Identification Number (BIN) Attacks. Fraudsters are using a new technology that allows them to “decrypt” bank/debit [...]
Why AI is Better at Fraud Detection than Even the Smartest Humans
Businesses are continuously innovating through the use of modern technology, with one of the most advanced being Artificial Intelligence (Ai). Ai offers increased convenience for many businesses [...]
She’s Looking at 34 Years in Federal Lockup For Elder Abuse, Bank Fraud, and Identity Theft
There may be no better example of how transactional artificial intelligence tools could be used to help combat elder abuse and financial fraud than with the case of Sharri Lynn Smith; a woman [...]
Bank Fraudster Sentenced to 4 Years
– Could Ai Have Caught Him in The Act… Years Ago? – Jerome Walter Kiggundu, formerly of Georgia, was sentenced to 48 months in prison, fined $2,500 and ordered to serve 3 years [...]