Frauds | News & Analysis | World Fintech News

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Risk Analysis Frauds

From Big Data to Big Profits: The Future of Finance & AI

World Fintech News March 17, 2023 0

Major trends are expected to influence the financial services sector in the next five to ten years. One of the most noteworthy developments is the rising popularity of cloud-based software. Financial institutions increasingly turn to cloud-based solutions for their data storage, processing, and

A businessman holding a digital shield illustrates the concept of combating financial fraud with AI in Fintech.

Risk Analysis Frauds

Fintech Companies Leveraging AI for Fraud Detection

World Fintech News March 14, 2023 0

Fintech’s meteoric development has marked the beginning of an age of financial services but has also raised the specter of fraud. Fintech organizations must have a reliable system for identifying fraud that processes data in real-time since fraudsters are constantly developing new methods to abuse the system. AI and ML can help enhance fraud detection […]

The image illustrates the Fintech theme with a person using a smartphone illustrates Stripe's launch of Enhanced Issuer Network to combat fraud.

Frauds

Stripe Launches Enhanced Issuer Network to Fight Fraud

World Fintech News March 11, 2023 0

Stripe, a prominent player in the financial technology industry, has created the Enhanced Issuer Network, a collection of collaborations with significant US card issuers to decrease fraud. The Improved Issuer Network facilitates a lower incidence of fraudulent transactions, a more pleasant shopping experience for customers, and a higher percentage of accepted payments for

The image illustrates the Artificial Intelligence concept on the occasion of the Resistant AI’s solution availability on Google Cloud Marketplace.

Frauds

Resistant AI: Fraud Detection on Google Cloud Marketplace

World Fintech News March 6, 2023 0

Resistant AI, a company that offers services to combat fraud and other financial crimes, has released its Document Forensics product on the Google Cloud Marketplace. KYC (Know your customer) documentation may be analyzed, categorized, and verified with this helpful software, including proof of address, ID cards, and bank statements. As a result, businesses will spend […]

Mousetrap and bitcoin coin depicting bitcoin scam or fraud concept.

Frauds

GainBitcoin Fraud: Victims to File SC Petition for Accused’s Bail Cancellation

World Fintech News January 29, 2023 0

The ‘Bitcoin Legal Defense’ group includes over 200 victims of the GainBitcoin Scam who are all set to move Supreme court seeking cancellation of the interim bail granted to Ajay Bharadwaj, the main accused. However, hearing the case on 12 October 2022, the two-judge bench that included Justice MM Sundresh and Justice Surya Kant did […]

Wooden judge gavel and calculator on financial reports illustrating financial fraud concept.

Frauds

JPMorgan Sues Frank for Fraud

World Fintech News January 25, 2023 0

The FTC cautioned student assistance portal Frank about how it could unlawfully misrepresent consumers regarding student pandemic relief only one year before JP Morgan Chase bought it with $175 million. This is the 2nd time Charlie Javice and Frank have been accused of fraud in misrepresentation before JPMorgan’s takeover.In the previous month, JPMorgan alleged in […]

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Nasdaq Stock market Frauds

Legal action taken against Coinbase for returning SGB and FLR

World Fintech News January 24, 2023 0

Hodl Law has sued Coinbase for failing to issue its users promised Flare tokens (FLR) and Songbird (SGB). According to the lawsuit, the primary attorney in the dispute, Fred Rispoli, Coinbase, has not met its commitments to its clients in this matter. Rispoli posted about the complaint and its facts on January 17 for the […]

Frauds

Flagright’s Crusade Against Financial Crimes

World Fintech News January 21, 2023 0

Flagright, located in Berlin, was founded in 2021 to protect FinTechs against financial fraud with risk-based monitoring procedures, real-time case management, screening, and user verification technologies. Flagright’s CEO, Baran Ozkan, was in charge of financial fraud prevention. Over a period of 15 months, he evaluated various transaction monitoring services and

Closeup shot of a Paycheck Protection Program Borrower Application Form.

Frauds

Paycheck Protection Program: From Good Intentions to Chaos

World Fintech News January 20, 2023 0

When the Paycheck Program went live during the pandemic closures in the spring of 2020, it quickly became a chaotic free-for-all. The programme abbreviated PPP, provided small firms with modest, potentially forgiven government loans. Despite this, billions of dollars were distributed to corporations controlled by affluent celebrities such as Khloe Kardashian and Tom Brady

A double exposure of two financial consultants joining puzzles illustrating fintech acquisition.

Frauds

FinTech Money Mobility Hindered by Technical Constraints & Fraudulent Costs

World Fintech News January 19, 2023 0

Money mobility concluded 2022 as a major issue for FinTechs and will require attention in 2023. As per research on the technological restrictions, including corporate limits and regulatory standards, the second-most important issue for FinTechs is its 32% citing limitations. According to the FinTech Fraud Ripple Effect, the collaboration of Ingo Money cooperation and