How an Alleged Fake-CEO Scheme Took $2.7 Million from R.I. Bank
Carter Pape, American Banker
Impostors posing as a Rhode Island bank’s CEO allegedly took about $2.68 million from the bank in November 2024, according to a recently unsealed indictment.
At a major New York investment bank, the same group allegedly tricked one of the bank’s employees into authorizing a wire for about $2.85 million in October 2024, but the bank’s back office stopped the money from going out…
Read MoreTips For Rooting Out Fraudulent Federal Funds Use
Danielle McLean, CFO Dive
There are a number of red flags that auditors should look out for when working with non-profits or government entities that get federal grants, experts say.
There are a number of questions auditors need to consider when trying to determine whether an organization fraudulently used federal funds, experts said during a panel discussion at an accounting industry conference last week.
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PODCAST: What Credit Unions Need to Know About Fraud
CUInsight Network
In a conversation with host and CUInsight Vice President of Strategic Growth Robbie Young, Morris reviews practical strategies credit unions can employ to strengthen fraud prevention and detection.
With scam sophistication increasing and technology continuing to evolve, fraud remains one of the biggest and fastest growing challenges for the credit union industry. America’s Credit Unions Director of Innovation and Technology Andrew Morris joined the CUInsight Network podcast to discuss fraud, cybersecurity, and more on an episode centered on the issues…
Read MoreICYMI: How Scammers Get Your Personal Data — And Use It Against You
Jenny Li, Operation Shamrock
The organizations behind frauds and scams use your personal data to create “shadow profiles” that fuel personalized scams.
You may be familiar with the concept of a “digital footprint”, but would you be surprised to know just how dramatically yours is growing every day? As millions of terabytes of data are created daily, the volume of available personal information continues to grow, creating a gold mine for scammers to exploit…
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