$1.4 Million Stolen From Banks and Credit Unions
Three Miami, Florida residents have been sentenced for their roles in $1.4 million stolen from Banks and Credit Unions.
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 [...]
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 [...]
Lenders Beware: Here Are 2022’s Top Metros for Mortgage Fraud
Mortgage and loan fraud is on the rise, having leapt 15% in the first quarter of 2022 over the same quarter last year. Lenders should be aware that the threat of mortgage fraud is highest in the [...]
The PII of Nearly 2 Million Residents of This State May Have Been Exposed to The Dark Web
The Texas Department of Insurance (TDI) announced this month that the personal identifiable information (PII) of 1.8 million Texas workers who filed compensation claims, has been breached. The [...]
What You Need To Know: The NACHA Rules Update
Electronic payment systems are constantly evolving to keep up with the ever-changing landscape of how we do business. This is especially true for real-time payments, which are growing in [...]
Florida credit union overhauls its fraud prevention with big assist from AI
Florida credit union overhauls its fraud prevention with big assist from AI *This article was originally published in American Banker by Carter Pape May 06, 2022, 3:35 p.m. EDT As algorithmic [...]
A Brief Review of Upcoding Fraud
Upcoding fraud is a type of health insurance fraud where a healthcare provider submits a bill to an insurance provider that’s more expensive than the actual services provided. The goal of this [...]