Americans are increasingly worried about financial fraud, a new survey finds – even if many of them are willing to bend the rules themselves. In a new report from FICO, 32% of Americans ranked fraud protection as their most important consideration when choosing a financial account, with 71% putting it in their top three issues. […]
Consumers fearful of fraud, but willing to exaggerate income Read More »
Sam Altman, chief executive officer of OpenAI Inc.Bloomberg News WASHINGTON — The CEO of OpenAI warned a room full of bankers and policymakers of an “impending fraud crisis” spurred by artificial intelligence’s growing capability to get around fraud prevention measures. Speaking at a conference hosted by the Federal Reserve Board Tuesday, Sam Altman, head of
Open AI CEO Altman warns of ‘impending fraud crisis’ Read More »
An Indiana loan officer faces a dozen felony counts after being accused of altering borrower information while working as an originator for two different lenders. State officials filed charges against Laura Mickler in Delaware County circuit court, located in the Central Indiana town of Muncie, in early July. She faces four felony counts each of
Former mortgage loan officer faces fraud, forgery counts Read More »
Sen. Adam Schiff, D-Calif., called the Trump administration’s accusations of mortgage fraud regarding his Maryland property political retaliation.Al Drago/Bloomberg Fannie Mae suspects Sen. Adam Schiff, D-Calif., of mortgage fraud. President Trump announced the government-sponsored enterprise’s findings in a Truth Social post Tuesday. The scheme allegedly involves a Maryland property Schiff has owned since at least
Trump says Fannie Mae suspects Schiff of mortgage fraud Read More »
An Arizona man was sentenced last week for misrepresenting his employment status to obtain Department of Housing and Urban Development housing assistance. Jalil Al-Kinani was sentenced to 18 months of supervised probation and must pay restitution to HUD following his sentencing last week in a Maricopa County court, according to a press release. The case
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U.S. Senator Maggie Hassan, a Democrat representing New Hampshire and ranking member of the Joint Economic Committee, announced a “broad new effort to protect people from financial scams” in a press release on Thursday. The initiative directly targets concerns highly relevant to U.S. banks and credit unions, including the proliferation of fraud on payment platforms
Sen. Hassan vows crackdown on fraud and AI-driven scams Read More »
The real estate industry is facing a $173 million problem. That, according to the FBI, is how much consumers lost to real estate fraud in 2024. It’s a 19% increase from the previous year, and many analysts expect that number to keep rising in the coming years, spurred on in part by AI. AI is
How AI-powered scams are targeting real estate deals Read More »
Flash flooding in Texas, which started on Wednesday and has killed at least 80 people, spawned fraud schemes and scams that attempted to exploit the goodwill and charitable instincts of onlookers. In one instance, the Center Point Volunteer Fire Department, located in hard-hit Kerr County, had its Venmo donation account temporarily suspended after creating it
How fraudsters exploit natural disasters Read More »
Adobe Stock A federal jury has convicted Oluwaseun Adekoya of bank fraud conspiracy, money laundering conspiracy and aggravated identity theft. The case offers an in-depth look at a rising threat to banks and credit unions: identity theft used to steal from customers’ home equity lines of credit. A two-and-a-half-week trial exposed Adekoya as the ringleader
How an identity thief stole $2 million from HELOCs Read More »
A HUD employee has pleaded guilty to making false claims about her remote work activity, costing the government over $200,000. Crissy Monique Baker, 45, of Fairfax, Virginia, will be sentenced in September to a single charge of fraud that allegedly occurred while she was employed by the Department of Housing and Urban Development between 2021
Ex-HUD staffer pleads guilty to false claim over remote work Read More »