India produces 6-7 million tonne raw cashew per annum, and was till recently the leading supplier of kernels to the global markets.

ISLAMABAD: In a shocking move, Federal Investigation Agency’s own internal inquiry has revealed how an official of the agency converted a business deal between two private parties into a human trafficking case and implicated innocent citizens in a bogus case.Raja Muhammad Ishaq — an...

ISLAMABAD: In a shocking move, Federal Investigation Agency’s own internal inquiry has revealed how an official of the agency converted a business deal between two private parties into a human trafficking case and implicated innocent citizens in a bogus case.Raja Muhammad Ishaq — an...

ISLAMABAD: In a shocking move, Federal Investigation Agency’s own internal inquiry has revealed how an official of the agency converted a business deal between two private parties into a human trafficking case and implicated innocent citizens in a bogus case.Raja Muhammad Ishaq — an...

The two cases defrauded over 59,700 customers out of over $61 million

Canada hit by COVID cheque fraud; Webex, Teams under attack, more COVID email scams and three big data breaches Welcome to Cyber Security Today. It’s Friday May 8th. I’m Howard Solomon, contributing reporter on cybersecurity for ITWorldCanada.com. To hear the podcast click on the arrow below: It didn’t take long for cybercriminals to take advantage…

The U.S. Department of Justice (DoJ) returned nearly $200 million to Malaysia in May.

The post Malaysia recovers $323m of 1MDB fraud money, PM’s office says appeared first on DealStreetAsia.

Foreign bribery enforcement in the UK has increased significantly since 2012 notably thanks to the pragmatic and effective approach taken by the Serious Fraud Office (SFO) to investigate and resolve foreign bribery cases.

Technology Tools to Tackle Tax Evasion and Tax Fraud demonstrates how technology is currently being used by tax administrations in countries worldwide to prevent, identify and tackle tax evasion and tax fraud. These solutions can offer a win-win: better detection of crime, higher revenue recovery, and synergies that can make tax compliance easier for business and tax administrations.

Qantas has confirmed it will stop printing out Frequent Flyer numbers on boarding passes 'over the next few weeks'. In the social media age, hackers are selling Frequent Flyer points on the black market.

Customers online want convenience, ease, and access. Fortunately, your business offers it all. Unfortunately, thats what fraudsters want too.

The new edition of the Fraud Prevention and Online Authentication Report 2019/2020 offers an overview of the latest challenges, innovations, and perspectives in the fraud landscape.

The GDC Compliance Advisory Board (CAB) provides insight into how to interpret the Strong Consumer Authentication (SCA) mandate described in PSD 2 without jeopardizing data privacy concerns protected by GDPR. 

(The Paypers) CredoLab has partnered with iovation to integrate

(The Paypers) Consumer expectations for convenience have increased significantly across a variety of markets, and quick-service restaurants (QSRs) are no...

(The Paypers) American Express (Amex) has sent a data breach notification to a group of its...

(The Paypers) Forter has released the seventh edition of its Fraud Attack Index, tracking shifting behaviours...

Attorney General William Barris pictured at a coronavirus task force meeting at the White House on March 23. The Justice Department is looking to crack down on coronavirus-related fraud.; Credit: Alex Brandon/AP

The coronavirus pandemic has brought out the good side of many Americans, but certainly not all Americans. Officials say that fraud related to COVID-19 — like hoarding equipment, price gouging and hawking fake treatments — are spreading as the country wrestles with the outbreak.

"It's a perfect ecosystem for somebody like a fraudster to operate in," said Craig Carpenito, the U.S. attorney for New Jersey and the head of the Justice Department's COVID-19 price gouging and hoarding task force.

"People want to believe that there's a magic pill that they can take or that if they buy a certain kind of mask or a certain kind of protective gear that it's going to protect them and their families," he said. "That creates opportunities for the types of people that prey upon scared people. They prey upon their fear."

A month ago, Attorney General William Barr instructed federal prosecutors around the country to aggressively investigate and prosecute scams and other crimes related to the COVID-19 pandemic. He also created the price gouging and hoarding task force and put Carpenito in charge of it.

From that perch, Carpenito has one of the best views of virus-related crime nationwide.

"Instead of seeing that tremendous support from all aspects of society, we're still seeing that sliver, that that dark underbelly, that small percentage of folks who instead of putting the interests of the country and support for those medical professionals that are putting themselves at risk in the forefront, they're finding ways to try and take advantage of this situation and illegally profiteer from it," he said. "And it's despicable."

The most prevalent kind of fraud that federal authorities are seeing at this point, he and others say, is tied to personal protective equipment like N95 masks, gloves or face shields.

In one notable case, prosecutors brought charges against a Georgia man, Christopher Parris, for allegedly trying to sell $750 million worth of masks and other protective equipment to the Department of Veterans Affairs but with a sizable advance payment.

The problem, prosecutors say, is the masks and other items didn't exist, at least not in the quantities Parris was offering.

Steven Merrill, the head of the FBI's financial crimes section, says the bureau refers to these sorts of operations as advance-fee schemes.

"We're getting many complaints that different entities are entering into these agreements, paying money upfront, sometimes hundreds of millions of dollars, and may or may not get any masks or other PPE ordered at all," Merrill said. "So our guidance to the public is to please be wary of these frauds and solicitations."

Other problems, such as hoarding and price gouging, can arise even when the medical gear does exist.

The FBI is trying to identify individuals who are stockpiling protective equipment and trying to sell it at exorbitant markups, sometimes 40 to 70 times the value, Merrill said.

A few weeks ago, the FBI seized nearly 1 million respirator masks, gloves and other medical gear from a Brooklyn man who was allegedly stockpiling them and selling them to nurses and doctors at what officials say was around a 700% markup.

The man, Baruch Feldheim, has been charged with lying to the FBI about price gouging. He's also been charged with allegedly assaulting a federal officer after he coughed on agents and claimed he had COVID-19.

The confiscated items, meanwhile, have been distributed to medical workers in the New York area.

Carpenito said the Justice Department has more than 100 investigations open into price gouging. It has hundreds more, he said, into other crimes tied to the pandemic, including fake treatments and cures.

In one case out of California, prosecutors charged a man who was allegedly soliciting large investments for what he claimed was a cure for COVID-19.

"He was doing so by broadcasting this scheme via, notably, YouTube, where had thousands of hits and views," Merrill said.

In a separate case out of Florida last week, the Justice Department got a court order to stop a Florida church from selling on its website an industrial bleach that was being marketed as a miracle treatment for the virus.

To be clear, the Centers for Disease Control and Prevention says there is no cure at this point for the virus.

More than a month into this crisis, there's no sense COVID-related crime is going to slow down.

In fact, Carpenito and Merrill say that with the massive $2 trillion economic relief package beginning to be doled out, they expect to see even more fraud in the weeks and months ahead.

"What we're worried about is that not only do we have these existing conditions, but we are awaiting — like everybody in the country — the arrival of $2 trillion to hit the streets," Merrill said. "And anytime there's that much money out there, you can just multiply the amount of frauds that are going to take place. So we're preparing for many more complaints to come in and new schemes to arrive on a daily basis."

This content is from Southern California Public Radio. View the original story at SCPR.org.

Scammers rehash old campaigns, create credit card-stealing websites and repurpose information channels to milk the COVID-19 crisis for all it's worth

The post It’s no time to let your guard down as coronavirus fraud remains a threat appeared first on WeLiveSecurity

Higher public awareness of sustainable fishing practices, led by environmental NGOs, may have helped reduce the incidence of mislabelled fish in the UK, compared to Ireland, according to a recent study which assessed levels of fish fraudulently sold as ‘cod’ in these two countries.

Last year my organization fell victim to a trans- national export invoice fraud. Since 99 percent of our sales come from exports, the cyber fraud dealt a big blow to our organization. We have a customer in South East Asia and my organization had business dealings with this customer for over five years.

Police would like to speak to two men following investigations of fraudsters scamming an elderly woman.

Coffee, olive oil and fish are just some of the adulterated and intentionally mislabeled foods regularly passed off as something they’re not.

A testing lab finds genetically modified cotton in H&M and other European brands' eco-friendly lines.

Ray Westwick, managing director at Freedom Brokers, discusses how the firm has used data to reduce instances of fraud.

In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are in isolation lockdown we present first in an irregular series - Covid Culture Club - where we discuss things to watch and do at home.

The number may seem grim for Web-based commerce. In 2004 in the Unites States alone, computer users logged in more than 207,000 Internet fraud reports to the U.S. Internet Crime Complaint Center. If you look hard at this number, you may be astounded, and a good bit frightened, by the implication. You may ask, "Is it really safe to buy and sell at an online site?"

How to spot Ebay scams.

For more information, contact Duncan Law Group, LLC (312-202-3283), Cronin & Co., Ltd., (312-201-7100) or Agruss Law Firm, LLC (312-224-4695)

Debt Resolution Technology to Alleviate Alarming CFPB Findings and Disrupt Debt Settlement Industry

New Profile of Ad Fraud in North America by TrafficGuard and Juniper Research

John Ritenour and Heath Ritenour Facing Racketeering "RICO" Charges and Two Lawsuits Alleging Fraudulently Stolen Insurance Commissions

Earlier this month, a criminal investigation that began more than a year ago by the Palm Beach County Sheriff's Office's Financial Crime Unit in West Palm Beach, Florida ended in the arrest of a used car salesman.

Faster authentication can reduce contact center costs, help eliminate the need for security questions, and contribute to an enhanced customer experience

The key to deterring fraud is to understand how and why people commit fraud. Knowing the “how” helps managers and business owners create policies and design internal controls to reduce the occurrence of fraud. The “why” is much more complicated,… Read More

The post The Fraud Triangle: Three Conditions That Increase the Risk of Fraud appeared first on Anders CPAs.

The Association of Certified Fraud Examiners (ACFE) recently released the 2014 Report to the Nations on Occupational Fraud and Abuse, and I noticed one overarching theme as I read through it: fraud has been and continues to be a costly… Read More

The post Occupational Fraud Continues to Plague Businesses appeared first on Anders CPAs.

A new year often means new resolutions, such as eat healthier, save money, exercise more, read a new book every month, and the list could go on and on. I suggest a resolution to improve your business by better managing… Read More

The post Four Simple Steps to Better Manage the Risk of Fraud in 2015 appeared first on Anders CPAs.

Clay M. Kniepmann, JD, CPA, CFE, Kevin P. Summers, JD, CPA/ABV/CFF, CVA, CDFA, CEPA and Thomas E. Hilton, MSF, CPA/ABV/CFF, CVA, CGMA are speaking at the Missouri Society of Certified Public Accountants (MOCPA) Fraud & Forensic Accounting Conference on November… Read More

The post Forensic and Litigation Services Group Speaking at MOCPA Fraud & Forensic Accounting Conference appeared first on Anders CPAs.

Ad and bot fraud: Indian marketers beware

Banks have been alerting their customers of cyber frauds that can happen while availing EMI moratorium.

75% companies lack a structure or policy to address frauds in CSR programs, the report said. Many companies that are now looking to allocate their CSR funds towards Covid-19 related programs, but still do not have structures in place that could avoid frauds, it said.

The Department of Justice announced today that the Western Union Remission Fund began its first distribution of approximately $153 million in funds forfeited to the U.S. government from the Western Union Company (Western Union) to over 109,000 victims located in the United States and abroad. These victims, many of whom were elderly victims of consumer fraud and abuse, will be recovering the full amount of their losses.

A federal jury sitting in Houston, Texas, found a pharmacist guilty Tuesday of charges related to health care fraud, wire fraud and money laundering.