Browsing: scheme

Key insight: The conspiracy used “Ploutus” malware to force ATMs to dispense cash without debiting accounts, specifically targeting older Diebold Nixdorf terminals.What’s at stake: Prosecutors allege…

Key insight: St. Louis fraudster combined a decades’ old scam with modern technology to abscond with $6 million from banks.What’s at stake: Bank fraud works because…

Key insight: The DOJ seized a domain used by a Myanmar-based syndicate, marking the first major victory for the new Scam Center Strike Force.Expert quote: “American…

Key insight: Kunal Mehta established shell companies and charged a 10% fee to convert stolen cryptocurrency into fiat cash.Supporting data: In addition to wire transfers, Mehta…

Key insight: A Luxembourg court ruled HSBC owes restitution to a Madoff investor fund, finding the bank was negligent in its custodial role.Supporting data: The $1.1…

Key insight: The case against Berkshire Bank, which includes unusually detailed allegations, represents the latest test of the law in cases where bank customers commit fraud.Supporting…

A federal jury in Puerto Rico on Tuesday convicted Oluwasegun Baiyewu, 37, of Richmond, Texas, in a money-laundering conspiracy stemming from wide-ranging wire, mail and device…

First Northwest Bancorp CEO Matthew Deines rejected claims his company participated in a $100 million Ponzi scheme. Sean Gladwell/Getty Images/Hemera The CEO of First Northwest Bancorp…

Pump-and-dump scheme: What it is and how to avoid one Source link

In June 2024, an employee at Park Side Credit Union in Missoula, Montana, made an unusual discovery: $340,000 of cash in the vault was nothing but…