Residents of a small English street have spoken of fraud fears after discovering their home addresses are being used by China-linked companies. The mysterious targeting of homeowners in the Netherley Road area of Hinckley in Leicestershire was reported to Action Fraud last week after Companies House contacted the residents. According to documents filed with the…
Fraud Fears After 30 China-Linked Businesses Use Leicestershire Residents’ Addresses
Cybercrime Getting More Costly for Businesses: StatsCan Report
A survey by Statistics Canada has found the cost of being hit with a cybercrime has risen substantially and creates burdensome business overheads. The survey, titled “The Changing Landscape of Cyber Security Following the COVID-19 Pandemic,” found the average cost of dealing with a cybercrime rose to $19,000 in 2021, compared to $11,000 just two…
Cybercrime Getting More Costly for Businesses, StatCan Survey Shows
A survey by Statistics Canada has found the cost of being hit with a cybercrime has risen substantially and creates burdensome business overheads. The survey, titled “The Changing Landscape of Cyber Security Following the COVID-19 Pandemic,” found the average cost of dealing with a cybercrime rose to $19,000 in 2021, compared to $11,000 just two…
Consumer Group Concerned as Banks Wrongly Close and Label Accounts as Fraudulent
A consumer group said it’s concerned that some banks are wrongly closing customers’ accounts over fraud suspicion and flagging them in a data sharing system that may prevent them from getting an account elsewhere. Sam Richardson, deputy editor of Which? Money, said while the consumer group recognises that it’s important banks can close accounts quickly…
Fraud Victim Loses Supreme Court Case Against Barclays Over £700,000 Scam
Barclays can’t be held responsible for a customer’s request to transfer £700,000 to fraudsters, the Supreme Court ruled in a closely watched case. A lawyer said the landmark ruling may have stopped “a flood of litigation” against banks by victims of Authorised Push Payment (APP) fraud, which has become one of the most significant types of fraud in…
Ex-CEO of Bankrupt Cryptocurrency Exchange Celsius Arrested, Charged With Fraud
July 14, 2023
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The former CEO of bankrupt cryptocurrency lending platform Celsius Network, Alexander Mashinsky, has been arrested and is facing a string of charges for allegedly misleading investors and manipulating the price of the company’s crypto token, the Department of Justice announced on July 13. Mr. Mashinsky was arrested Thursday and charged with securities fraud, commodities fraud, and wire fraud for defrauding…
Oklahoma Misspent Millions In COVID-19 Funds: Auditor
June 28, 2023
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Oversight failures by state officials resulted in the misallocation of over $29 million in federal pandemic relief funds that may now have to be repaid by taxpayers, according to Oklahoma Auditor & Inspector Cindy Byrd. Byrd’s office on Tuesday released an audit report (pdf) that looked into around $14 billion in Oklahoma state spending in fiscal…
Harvard Professor on Leave Amid Accusations of Fraud
A Harvard Business School professor has been placed on leave amid accusations that she fabricated data that underpinned multiple peer-reviewed studies. Behavioral scientists, including Leif Nelson, analyzed some of the studies co-authored by Harvard professor of business administration Francesca Gino. They found signs that data used in at least three of the studies was fabricated to…
10 Percent of $4.2 Trillion US COVID Relief Was Lost to Fraud, Waste: Report
As much as 10 percent of the $4.2 trillion the U.S. government has disbursed in COVID-19 relief aid may have been lost to fraud and waste. A new analysis of COVID relief spending by The Associated Press estimates that fraudsters collected more than $283 billion, while another $120 billion was wasted or misspent. The news…
10 Percent of $4.2 Trillion US COVID Relief Was Lost to Fraud and Waste: Report
As much as 10 percent of the $4.2 trillion the U.S. government has disbursed in COVID-19 relief aid may have been lost to fraud and waste. A new analysis of COVID relief spending by the Associated Press estimates fraudsters collected more than $283 billion while another $120 billion was wasted or misspent. The news outlet…
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