fraud

Former Theranos exec Sunny Balwani is found guilty of fraud

Former Theranos COO and ex-boyfriend of disgraced founder Elizabeth Holmes, Sunny Balwani has been found guilty on all 12 criminal charges after a three-month trial. At her own high-profile trial this

FTC hammers Walmart over years of ‘facilitating’ money transfer scams

The Federal Trade Commission is suing Walmart for sitting by while scammers bilked customers out of more than $197 million, the agency alleged in a statement on Tuesday. It’s seeking a court ord

Flagright offers transaction monitoring with usage-based pricing

Startups face many challenges, but one outsized one is having to navigate regulatory requirements that differ in each jurisdiction. Particularly when it comes to financial compliance, implementing sol

Four-month-old Doppel is helping some of the biggest NFT projects spot scams

As NFTs have gained popularity, so, too, has NFT fraud. Copycats can quite easily upload images to an NFT marketplace, mint them and sell them to customers for profit without verifying that those imag

Anglo-Hungarian anti-fraud platform SEON pulls in a $94M Series B led by IVP

Last year, SEON, which has an anti-fraud platform designed to fight accounts raised a $12 million Series A. It does this by looking at a customer’s ‘digital footprint’ – especially their s

Mailchimp says an internal tool was used to breach hundreds of accounts

Email marketing giant Mailchimp has confirmed a data breach after malicious hackers compromised an internal company tool to gain access to customer accounts. In a statement given to TechCrunch, Mailch

Google discovers threat actor working as an ‘initial access broker’ for Conti ransomware hackers

Google’s Threat Analysis Group has observed a financially motivated threat actor working as an intermediary for the Russian hackers, including the Conti ransomware gang. The group, which Google refe

UK expands Online Safety Bill to cover scam ads and eyes wider reforms

The UK government has again announced an extension to the scope of the draft Online Safety Bill — this time bringing scam ads into scope following pressure from campaigners. In parallel, it has

Sardine’s algorithm helps crypto and fintech companies detect fraud

It’s a great time to be in the fraud detection business in crypto and fintech. Crypto in particular has faced some high-profile scams recently, and many companies operating within the ecosystem are

DOJ seizes $3.6B in bitcoins after busting entrepreneur couple in Bitfinex laundering scheme

The U.S. Justice Department (DOJ) has seized over 94,000 bitcoins that were allegedly stolen in the 2016 hack of crypto exchange Bitfinex and arrested a married couple suspected to have laundered the

FTC: US consumers lost $770 million in social media scams in 2021, up 18x from 2017

A growing number of U.S. consumers are getting scammed on social media, according to a new report by the Federal Trade Commission (FTC), which revealed that consumers lost $770 million to social media

FTC orders online shop to pay $4M for hiding reviews below 4 stars

We all know online reviews must be taken with a grain of salt, but generally you’d like to think that a product with a 4.5-star average is better than one with a 3.5-star average. You might be w

FrankieOne nabs $16M to provide fintechs with ID and fraud management as a service

Fraud continues to be a major issue in the world of digital transactions, a situation that research shows was only compounded in the last 20 months of online activity growing as a result of COVID-19.

Alloy raises $100M at a $1.35B valuation to help banks and fintechs fight fraud with its API-based platform

Alloy, which has built an identity operating system for banks and fintechs, announced Thursday that it has raised $100 million at a $1.35 billion valuation. Lightspeed Venture Partners led the Series

Finding fraud in a world of fast-moving deals

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. We got the crew together — Natasha and Danny and Alex — thi

Early Affirm employees raise $70M for SentiLink, an identity verification startup

SentiLink, an identity verification technology startup, has raised $70 million in a Series B funding round led by Craft Ventures. Felicis Ventures, Andreessen Horowitz (a16z) and NYCA also participate

Tiger Global leads $34M investment into Unit21, a no-code fraud prevention platform

Unit21, a startup that helps businesses monitor fraudulent activities with its no-code software, announced today it has raised $34 million in a Series B round of funding led by Tiger Global Management

Fraud protection startup nSure AI raises $6.8M in seed funding

Fraud protection startup nSure AI has raised $6.8 million in seed funding, led by DisruptiveAI, Phoenix Insurance, AXA-backed venture builder Kamet, Moneta Seeds and private investors. The round will

RSA spins off fraud and risk intelligence unit as Outseer

RSA Security has spun out its fraud and risk intelligence business into a standalone company called Outseer that will double down on payment security tools amid an “unprecedented” rise in

Hackers are targeting employees returning to the post-COVID office

With COVID-19 restrictions lifting and employees starting to make their way back into offices, hackers are being forced to change tack. While remote workers have been scammers’ main target for the p
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