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ToolCASE

 $1.2 Million Insider Fraud Alleged At Pennsylvania Credit Union
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By ToolCASE
In Industry Article, News, ToolCASE
Posted July 5, 2022

$1.2 Million Insider Fraud Alleged At Pennsylvania Credit Union

Two New Columbia Pennsylvania residents were indicted on charges of defrauding Nu Community Credit Union and its members out of $1.2 million over the course of several years. The duo, Mindy L. [...]

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 Bank Identification Number (BIN) Attacks How to Detect and Prevent Them
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By ToolCASE
In Industry Article, News, ToolCASE
Posted June 23, 2022

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 [...]

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 This PII and Bank Fraudster is Looking at a Possible 120 Years Behind Bars
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By ToolCASE
In Industry Article, News, ToolCASE
Posted June 23, 2022

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 [...]

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 $12 Million Fraudster Who Targeted Banks and Credit Unions Sentenced
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By ToolCASE
In Industry Article, News, ToolCASE
Posted June 16, 2022

$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, [...]

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 Debit Card Holders Victimized by BIN Attack
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By ToolCASE
In Industry Article, News, ToolCASE
Posted June 13, 2022

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 [...]

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 Why AI is Better at Fraud Detection than Even the Smartest Humans
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By ToolCASE
In Industry Article, News, ToolCASE
Posted June 7, 2022

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 [...]

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 She’s Looking at 34 Years in Federal Lockup For Elder Abuse, Bank Fraud, and Identity Theft
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By ToolCASE
In Industry Article, News, ToolCASE
Posted June 7, 2022

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 [...]

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 Bank Fraudster Sentenced to 4 Years
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By ToolCASE
In Industry Article, News, ToolCASE
Posted June 7, 2022

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 [...]

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 Four of The Biggest Fines in History  for BSA/AML Non-Compliance
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By ToolCASE
In Industry Article, News, ToolCASE
Posted June 2, 2022

Four of The Biggest Fines in History for BSA/AML Non-Compliance

Money laundering is a prevalent problem in the United States. Today, new technologies can help fraud teams prevent money laundering activities by deep-screening and monitoring accounts and [...]

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 $12 Million Upcoding Fraudster Gets 93 Months: Could He Have Been Caught Much Sooner?
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By ToolCASE
In Industry Article, News, ToolCASE
Posted May 31, 2022

$12 Million Upcoding Fraudster Gets 93 Months: Could He Have Been Caught Much Sooner?

A California-based physician, Donald Woo Lee, has been sentenced to nearly 8 years in prison for billing Medicare $12 million for unnecessary or non-performed procedures; a practice known as [...]

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