Tagged: fraud

August 28, 2026 @ 1:20 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) announced yesterday that it has found large-scale abuse in the investment advisor sector and filed complaints against 38 entities. At the same time, the SEC thanked the Federal  Bureau of Investigation’s Operation Level Up, a project launched to protect… Read More

August 25, 2026 @ 3:46 pm By Omar Faridi  |  

A San Francisco-based entrepreneur with roots in the gaming industry has been found guilty of orchestrating a scheme that defrauded investors in a cryptocurrency trading fund of nearly $1 million. On August 24, 2026, a federal jury in the Northern District of California convicted Japheth… Read More

August 25, 2026 @ 3:41 pm By Omar Faridi  |  

Blockchain investigator ZachXBT has ranked Canada as the least effective jurisdiction for assisting victims of cryptocurrency-related crimes, based on his extensive experience handling such cases. In recent comments shared via his Telegram investigations channel and on X, he placed Canada at the top of a… Read More

August 25, 2026 @ 1:19 pm By JD Alois  |  

Kingscrowd, a provider of data and analysis of online securities offerings, has commented on the Securities and Exchange Commission’s allegations of fraud against Netcapital (NASDAQ:NCPL), a company that operates a FINRA-regulated Funding Portal. Kingscrowd notes that only three of the eleven securities offerings mentioned in… Read More

August 25, 2026 @ 10:03 am By JD Alois  |  

The Autorité des Marchés Financiers (AMF) in France has issued a caution to the public to look out for fake media websites. According to the regulator, a bevy of news sites have recently been impersonating French news sites by copying their design and identity. Apparently,… Read More

August 25, 2026 @ 8:18 am By Omar Faridi  |  

A federal jury in Nevada has found Las Vegas businessman Brent C. Kovar guilty of running a multimillion-dollar cryptocurrency fraud that prosecutors described as a classic Ponzi scheme. The verdict, delivered after a nine-day trial, holds Kovar responsible for taking roughly $24 million from at… Read More

August 22, 2026 @ 5:52 pm By Omar Faridi  |  

Authorities in the United Arab Emirates briefly held two employees of the cryptocurrency exchange Binance in recent weeks as part of police investigations into possible financial wrongdoing linked to activity on the platform. The workers were intercepted while passing through airports in the Emirates and… Read More

August 20, 2026 @ 2:29 pm By Omar Faridi  |  

Federal prosecutors in Georgia have publicly detailed criminal charges against Edward Zimbardi following his recent return to the United States from Fiji. The 59-year-old resident of Flowery Branch stands accused of orchestrating a large-scale investment fraud that authorities say diverted more than $165 million from… Read More

August 20, 2026 @ 9:01 am By JD Alois  |  

Last week, the Securities and Exchange Commission (SEC) revealed an enforcement action against Netcapital (NASDAQ:NCPL). The allegations included the actions of several employees and related individuals that may have created phantom revenue for the company. The complaint alleges that the defendants pursued a fraudulent scheme… Read More

August 18, 2026 @ 10:15 am By JD Alois  |  

The Securities and Exchange Commission has charged an individual and three entities they controlled for selling pre-IPO shares at significant markups that were not disclosed. According to an SEC release, Andrew Spaventa and The Spaventa Group LLC, TSG Capital Advisors LLC, and TSG Alpha Partners… Read More

August 15, 2026 @ 6:40 pm By Omar Faridi  |  

Arizona residents who fell prey to cryptocurrency ATM scams have begun reclaiming their funds thanks to a state consumer protection measure. Attorney General Kris Mayes recently revealed that her office has assisted 35 individuals in securing complete reimbursements amounting to $171,332. These recoveries stem from… Read More

August 11, 2026 @ 12:30 pm By JD Alois  |  

Netcapital (NASDAQ:NCL), an early entrant in the securities crowdfunding sector, has been charged with fraud. According to a report by Reuters, the Securities and Exchange ​Commission has filed charges in Boston Federal Court alleging that NetCapital improperly recorded $14 million in revenue from consulting by… Read More

August 10, 2026 @ 9:02 pm By Omar Faridi  |  

Brazil is preparing to strengthen safeguards against cryptocurrency-related fraud through a new regulatory measure that introduces a mandatory waiting period for certain outbound transfers. The Central Bank of Brazil (Banco Central do Brasil) published Resolution BCB No. 584/2026 on August 7, 2026, amending earlier fraud-prevention… Read More

August 4, 2026 @ 3:36 am By Omar Faridi  |  

Hong Kong authorities have highlighted a major online romance fraud in which a middle-aged insurance professional lost more than HK$26 million (approximately US$3.3 million) after being drawn into a scheme centered on a bogus cryptocurrency trading application. According to police figures released via the force’s… Read More

August 3, 2026 @ 8:15 am By Omar Faridi  |  

Michael Coates, the newly appointed chief information security officer at the Solana Foundation, has raised alarms about how artificial intelligence is transforming cryptocurrency-related fraud into something far more convincing and harder to detect. In a recent interview, Coates stressed that the industry’s most pressing risks… Read More

July 27, 2026 @ 8:14 am By Omar Faridi  |  

Elliptic has noted that Crypto ATMs, often called Bitcoin ATMs because of the cryptocurrency’s dominance, provide a straightforward way for people to convert physical cash into digital assets. While these machines serve legitimate customers, they have also become a favored tool for fraudsters. Scams typically… Read More

July 25, 2026 @ 4:42 pm By Omar Faridi  |  

A New York state court has refused to throw out a major lawsuit targeting the company behind the popular Zelle payment service, allowing claims of widespread consumer fraud to move forward. The ruling represents a significant setback for Early Warning Services, the operator of Zelle,… Read More

July 24, 2026 @ 4:18 pm By Tony Zerucha  |  

  Regulators are coming with questions about financial institutions’ Artificial Intelligence processes that many will struggle to answer, warns QAwerks CEO Konstantin Klyagin. More documented hallucinations, customer complaints of banking doom loops, and the CFPB’s determination that inaccurate Artificial Intelligence chatbot responses may be federal… Read More

July 23, 2026 @ 6:23 am By Omar Faridi  |  

The latest insights from UK Finance underscore a persistent and evolving challenge in the fight against financial crime. Despite consant efforts by banks and financial institutions to block illicit activities, fraudsters are demonstrating greater sophistication, leading to rising losses and a notable change in tactics…. Read More

July 21, 2026 @ 8:59 pm By Tony Zerucha  |  

While fraud continues to evolve (with AI playing its part), Veriff fraud platform lead, Ira Bondar-Mucci, said familiar methods still reign supreme. Veriff’s identity verification platform supports more than 3,000 businesses, including Western Union, Bumble, Blockchain, Stake, Instacart and AWS. Veriff’s 2026 Identity Fraud Report… Read More