3 ways top crypto companies are leveraging Prove’s technology to onboard new users in 10 seconds while also mitigating SIM swap fraud and other identity fraud. Cryptocurrency fraud is at an all-time h...
Tag: Fraud
UK Government Plans to Give Courts New Powers to Track Down Crypto Fraud
The UK government announced on Thursday that it has introduced new rules designed to address cryptocurrency fraud. While presenting a speech at a legal conference, Sir Geoffrey Vos, the Head of Civil ...
BitConnect Mastermind Indicted In U.S. On Charges of Fraud
The writing is on the wall for indicted crypto fraudster Satish Kumbhani as a U.S. jury charges him on multiple counts of cryptocurrency fraud, which could land him up to 70 years in prison. A federal...
Japan Exchange group warns against fraud crypto platforms
Crypto assets have garnered mainstream attention across the globe from investors, regulators, and illicit platters. Digital assets witness notable adoption because of the Peer-to-Peer network and priv...
Consumers lost $5.8 billion to fraud last year — up 70% over 2020
krisanapong detraphiphat | Moment | Getty Images American consumers reported losing more than $5.8 billion to fraud last year, up from $3.4 billion in 2020 (an increase of more than 70%), the Federal ...
NFTs: New Fraud Targets
The automation of fraud demands better defences, beginning with digital identity. I bought a non-fungible token (NFT) the other day. I bought it on OpenSea, one of the major NFT marketplaces. In case ...
UK Police Return $5.4 Million to Cryptocurrency Fraud Victims – Regulation Bitcoin News
The U.K. police have returned over $5.4 million to victims of an international cryptocurrency scam. The police say that almost $10 million more will be returned to victims. So far, 127 more people hav...
This Week [In] Crypto: NFT Fraud, Regulations, ETHDenver
We all sometimes miss the big things [In] the burgeoning crypto ecosystem. In this weekly round-up, we’ll fill you in on some of the most important trends and developments from Feb 14-20. Don’t forget...
Family behind Fatburger under investigation for alleged fraud, money laundering, records show
Andrew Wiederhorn, CEO of Fat Brands, at their corporate offices in Beverly Hills on Sept. 19, 2017. (Marcus Yam / Los Angeles Times) Federal authorities have been investigating Andrew Wiederhorn, chi...
Ponzi scheme behind patriotic vodka, once featured on ‘Fox & Friends,’ scammed investors out of $900,000 to pay IRS and Amex bills, prosecutors say
A Connecticut businessman has pleaded guilty to operating an unpatriotic Ponzi scheme that pocketed $900,000 from investors looking to buy a pro-veteran vodka company. Brian Hughes, 57, of Madison, Co...
SEC Will Continue To Evaluate Bitcoin Spot ETFs, but They Must Be Designed To Prevent Fraud: Chair Gary Gensler
The U.S. Securities and Exchange Commission (SEC) will continue to review Bitcoin (BTC) exchange-traded fund (ETF) proposals, according to SEC chair Gary Gensler. U.S. Representatives Tom Emmer, a Rep...
South Korean Crypto Exchange Chief Gets 22 Years in Prison For $1.7B Fraud
The seven executive employees of the South Korean V Global exchange were found guilty on Friday for the crypto fraud of 2 trillion won ($1.7 billion), authorities sentenced them to jail with hefty fin...
UK, first seizure of NFT for tax fraud
The first NFT seizure in history has probably taken place in the UK by HM Revenue and Customs, the UK’s tax collection agency. The fraud that led to the NFT seizure According to the BBC reports, The ...
UK seized 3 NFTs in a millions worth fraud case
NFTs utility has been introduced over the last year. The craze for these digital currencies are continuing to rise. However, as in every industry, fraudsters have already found a way to roll out illic...
UK Seizes First NFTs in $2 Million Fraud Crackdown — Arrests 3 People – Regulation Bitcoin News
The U.K.’s. HM Revenue & Customs (HMRC) has made its first non-fungible token (NFT) seizure. British authorities also seized some crypto and arrested three people in a fraud case involving 250 all...
UK’s HMRC seizes NFTs for first time in tax fraud probe
A CryptoPunk NFT on display at Sotheby’s on June 4, 2021 in New York City. Cindy Ord | Getty Images LONDON — Britain’s tax watchdog has seized three non-fungible tokens, in what is thought...
UK taxman siezes first NFTs in £1.4 million fraud probe
advertisement The UK’s tax body seized three non-fungible tokens (NFTs) and arrested three people on suspicion of attempting to defraud it of £1.4 million. This is a first for British authoritie...
South Korea Jails Seven Masterminds of Country’s ‘Largest Crypto Fraud Scheme’ – Regulation Bitcoin News
Seven executives of the collapsed South Korean scam cryptocurrency exchange, V Global, were recently handed lengthy jail sentences as punishment for their role in running one of the country’s biggest ...
SEC Charges Australian ‘Man Behind the Machine’ in $41M Crypto Fraud Scheme – Coinotizia
The U.S. Securities and Exchange Commission (SEC) has charged an Australian citizen who called himself the “Man behind the Machine” in a fraudulent crypto scheme that raised almost $41 million. He and...
India’s Central Bank RBI Says Crypto Is Prone to Fraud and Poses Immediate Risks to Consumer Protection – Coinotizia
India’s central bank, the Reserve Bank of India (RBI), has warned about multiple risks cryptocurrency poses to the country’s financial stability. “They are also prone to frauds and to extreme price vo...
‘He promised to pay them off’: My daughter lived with a man for 9 years. He took out credit cards in her name. Will she be held liable?
Dear Quentin, I have a problem. My daughter lived with a guy for nine years. During that time, I found out that he took out two credit cards in her name without her permission. Identity theft, right? ...