Banks (Finance)
A 51-year-old Rocklin man pleaded guilty to submitting false statements to financial institutions, causing a total loss of $530,552. Kevin Lee Co, the sole owner of Apollo HP Inc., applied for and obtained Paycheck Protection Program loans while concealing his pending criminal charges and guilty pleas. The case was
Banks (Finance)
The Hong Kong Monetary Authority (HKMA) has issued a warning to the public about fraudulent websites and mobile applications that have been reported to the authority. Bank of Singapore Limited has issued a press release alerting members of the public to these scams, which have been designed to trick people
Banks (Finance)
A 76-year-old Nevada man has been indicted on 20 counts of wire fraud, bank fraud, and aggravated identity theft for allegedly using fraudulent checks to steal millions of dollars from victims' bank accounts. Michael Zeto is accused of partnering with foreign telemarketers who provided him with the names, bank
Banks (Finance)
Interswitch, a leading digital payments solution provider in Nigeria, is set to introduce an advanced biometric feature to its payment ecosystem, targeting to combat banking fraud at point-of-sale (POS) terminals and automated teller machines (ATMs) across the country. The technology, to be rolled out in partnership with SterlingPRO, aims to
Banks (Finance)
A federal grand jury in El Paso returned an indictment charging Dawn Marie Munoz, 52, with her role in preparing false tax returns and committing bank fraud. Munoz allegedly underreported her income to the IRS for tax years 2015, 2016, 2017, and 2018, and also prepared income tax returns for
Banks (Finance)
High street banks in the UK are leaving customers vulnerable to cyber attacks by neglecting their online security, an investigation by Which? has revealed. The consumer watchdog tested the online and mobile security of 15 major current account providers, carried out with independent security experts 6point6. The investigation found that
Banks (Finance)
A recent investigation by Which? found that online banking customers are being left exposed to worrying fraud risks, with several major current account providers failing to use the latest protections for their websites and mobile apps. The consumer group urged banks to "up their game" and take greater
Banks (Finance)
US authorities have taken a significant step in combating cyber-enabled fraud by unsealing an indictment against 11 individuals for their alleged involvement in money laundering and identity theft schemes. Damian Williams, the US Attorney for the Southern District of New York, and Patrick J. Freaney, the Special Agent-in-Charge of the
Banks (Finance)
Vonnie McDaniels, a 32-year-old resident of Lexington, Kentucky, was sentenced to 27 months in federal prison on Monday by Chief U.S. District Judge Danny C. Reeves. McDaniels was found guilty of bank fraud and aggravated identity theft after obtaining a $382,500 commercial loan from Kentucky Bank in August
Banks (Finance)
The Central Bureau of Investigation (CBI) has registered a case against a private company and several of its officials for allegedly defrauding a consortium of 16 banks led by Bank of India. The company, located in Delhi with an industrial unit in Himachal Pradesh, is accused of conspiring to divert
Banks (Finance)
The Hong Kong Monetary Authority (HKMA) has alerted the public to a press release issued by Bank of China (Hong Kong) Limited regarding fraudulent websites that have been reported to the HKMA. The authority emphasizes that banks will not send SMS or emails with embedded hyperlinks to direct customers to
Banks (Finance)
A disabled woman, Aesha, had $10,000 stolen from her bank account by her caregiver who used a forged withdrawal slip, highlighting the need for financial institutions to take extra care when dealing with vulnerable consumers. Aesha, who receives assistance with her finances from a local charity group, had a
