In 2020, the FBI arrested an Amazon employee after issuing more than $96,000 in fraudulent refunds. To achieve this fraud, the Amazon insider created multiple buyer accounts to purchase [...]
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 [...]
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 [...]
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, [...]
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 [...]
In late April, the Office of the Comptroller of the Currency (OCC) sent cease-and-desist orders (C&D) to two banks, citing them for BSA/AML deficiencies. In addition, the OCC fined one of the [...]
