Nasdaq-listed shares of the Nigerian fintech company Tingo stocks fell by as much as 60 percent after Hindenburg research labeled it an evident fraud. As per the Tingo Hindenburg Report, Tingo fabricated partnerships, lacked the necessary mobile license, and fraudulently claimed the
According to a recent SEC filing, HRT Financial LP made a sizable investment in NerdWallet, Inc. Through its advanced digital platform, the rapidly expanding financial advisory firm gives people and small to medium-sized businesses the ability to access a variety of financial product providers. With targeted educational content, user-friendly tools and calculators, and
Advanced text-oriented generative AI tools like ChatGPT have spurred imagination and raised employment concerns. The OpenAI study reveals that approximately 80% of individuals could see a 10% effect on their job duties, with 19% of workers, especially those in high-income positions, facing a 50% impact. ChatGPT and other comparable AI-powered tools have revolutionized
Upstart Holdings, Inc. is an artificial intelligence (AI) lending platform corporation based in San Mateo that provides online loans utilizing AI and ML learning methods. Raymond James Financial Services Advisors Inc., one of the leading diversified financial services firms in the United States, recently sold 8,953 shares of Upstart Holdings, Inc. stock for $373,000 to
Hasan Hakim Brown used fake identities to defraud institutions and the Small Business Administration of more than $20 million. He combined stolen Social Security information with fabricated names to elude fraud-detection systems and utilized multiple virtual desktops. In contrast, the San Francisco-based startup SentiLink aimed to combat synthetic ID forgery. The rise of a
The United States Supreme Court ruled unanimously in favor of Slack Technologies, offering the business communications software firm another chance to avoid a class action lawsuit connected with its 2019 direct listing. The Supreme Court reversed a lower court’s 9-0 ruling that permitted the litigation to proceed based on a wrong understanding of federal law […]
This week, (NASDAQ: SOFI) SoFi Technologies stock is exhibiting enormous gains. According to information provided by S&P Global Market Intelligence, as of Thursday at 2:00 p.m. ET, the share price of the fintech-services company had risen approximately 30 percent from last week’s Nasdaq market close. As a measure to increase the debt ceiling makes its […]
Forced checking emerged as a significant global trend in recent times, growing by a staggering 1500% in Germany alone. In the first quarter of 2023, forced verification accounted for 5 percent of all fintech fraud cases, up from 0.3 percent in 2022. The report revealed a considerable increase in deepfake fraud incidents in the United […]
Stampli, the leader of an AI-powered Accounts Payable automation, stated that businesses should take precautions to avoid being victimized by fraudsters attempting to submit untrue banking information to get fraudulent payments amidst the financial crisis of the regional banking industry. Fraudsters posing as a company’s current vendor may get in touch with the
Brad Garlinghouse, the chief executive officer of Ripple, stated that the company will have spent $200 million to defend itself against the U.S. Securities and Exchange Commission lawsuit. The SEC initiated a Ripple lawsuit and accused its CEO and co-founder of violating SEC regulations by trading XRP without filing it with regulators. Ripple contests the […]