Financial Fraud

Fraud and Scam Protection in Financial Institutions: 2025 Strategies, Trends, and Lessons from the MGM Cyberattack

February 23, 2025 FraudsWatch 0

The financial services industry is under siege. In an era defined by rapid digital transformation, financial institution groups – encompassing banks, credit unions, brokerage firms, insurance companies, and fintech startups – face an unprecedented wave […] Read More

Close-up of a fraudulent tax document with a red 'FRAUDULENT' stamp, related to a COVID-19 relief fraud case.

Fake Tax Docs & Kickbacks: Inside a $5 Million COVID-19 Relief Fraud Case

February 22, 2025 FraudsWatch 0

MEMPHIS, TN – A Mississippi woman has admitted to masterminding a sophisticated scheme that defrauded the U.S. government’s Paycheck Protection Program (PPP) of over $5 million. Lisa Evans, 42, of Olive Branch, Mississippi, pleaded guilty […] Read More

Illustration showing a shield protecting against cryptocurrency scams, including phishing and rug pulls.

Cryptocurrency Scams: The Ultimate Guide to Avoiding the Latest Threats in 2025

February 20, 2025 FraudsWatch 0

Learn how to identify and avoid cryptocurrency scams in 2024. This comprehensive guide covers the latest scam types, red flags, prevention strategies, and what to do if you’ve been victimized. Stay safe in the crypto […] Read More

Fraud News From World

Ippei Mizuhara Sentenced to 57 Months: How Shohei Ohtani’s Trusted Interpreter Stole $17 Million in Shocking Gambling Scandal

February 7, 2025 FraudsWatch 0

Santa Ana, California – October 2024 – In a shocking case of betrayal and financial fraud, Ippei Mizuhara, the former Japanese-language interpreter for Major League Baseball (MLB) superstar Shohei Ohtani, has been sentenced to 57 months […] Read More

Extradited Suspect Faces Charges in $60 Million International Bank Fraud and Money Laundering Ring: Erick Jason Victoria-Brito Arraigned in New York

January 29, 2025 FraudsWatch 0

NEW YORK, NY – In a significant victory for law enforcement against complex international financial crimes, Erick Jason Victoria-Brito, a 30-year-old resident of Hollywood, Florida, has been extradited from the Dominican Republic to the United […] Read More

Crypto Reckoning: KuCoin’s Guilty Plea Exposes Dark Side of Unregulated Exchanges

January 28, 2025 FraudsWatch 0

The cryptocurrency landscape was rocked to its core on Monday, January 27, 2025 as PEKEN GLOBAL LIMITED (“PEKEN”), the Seychelles-based entity operating the globally renowned cryptocurrency exchange KuCoin, pleaded guilty to a charge of operating […] Read More

Advance Fee Fraud in 2025 and Beyond: Trends, Threats, and Tactics

January 26, 2025 FraudsWatch 0

This article provides a comprehensive look at advance fee fraud, a deceptive scheme that continues to thrive in 2025 and beyond. We’ll explore the latest trends, emerging threats, and sophisticated tactics employed by fraudsters, offering […] Read More

Former Politician Reginald Fullwood Jr. Sentenced

From State House to Prison: Ex-Florida Rep. Reginald Fullwood Jr.’s Decade-Long History of Fraud Culminates in 37-Month Sentence

January 24, 2025 FraudsWatch 0

From Campaign Finance Violations to Medicare Fraud: The Case of Reginald Fullwood, Jr. JACKSON, Mississippi – The saga of Reginald Fullwood Jr., a former Florida State Representative, took another dramatic turn this week as the […] Read More

The Ultimate Betrayal: Alexander Charles Beckman GameOn CEO And Valerie Lau Beckman Indicted for Defrauding Investors of $60 Million

January 24, 2025 FraudsWatch 0

SAN FRANCISCO, CA (January 25, 2025) – In a shocking development that has sent ripples through Silicon Valley, Alexander Charles Beckman, founder and former CEO of chatbot startup GameOn Technology (also known as GameOn or […] Read More

Dubai’s Wall Street Exchange Pays $9 Million Fine in U.S. Bank Fraud Case: A Cautionary Tale of AML Compliance Failures

January 22, 2025 FraudsWatch 0

NEW YORK, NY (January 20, 2025) – In a significant development underscoring the importance of robust anti-money laundering (AML) compliance, Dubai-based money exchange service provider, Wall Street Exchange (WSE), has entered into a non-prosecution agreement […] Read More

Craig Allen imprisoned for defrauding investors

Atlanta Investment Firm CEO Sentenced to 7 Years for $9 Million Fraud, Cheetah Fund Collapse Leaves Investors Devastated

January 22, 2025 FraudsWatch 0

ATLANTA, GA – In a stark reminder of the risks lurking within the often-opaque world of private investment, Craig Allen, the founder and executive officer of Atlanta-based C.M. Allen Capital Management, Inc., has been sentenced […] Read More

American Express Settles for Over $138 Million After Misleading Customers with False Tax Advice on Wire Products: A Deep Dive into the Scandal

January 16, 2025 FraudsWatch 0

NEW YORK – In a significant blow to its reputation and finances, American Express Company (AMEX) has agreed to a hefty settlement exceeding $138 million after admitting to deceptive sales practices involving two of its […] Read More

American Express Settles for $108.7 Million: A Deep Dive into Deceptive Practices and What It Means for Small Businesses

January 16, 2025 FraudsWatch 0

American Express, a titan in the financial industry, recently found itself in hot water after the United States Department of Justice (DOJ) levied a hefty $108.7 million civil penalty against the company. This significant settlement […] Read More

Elderly Authors Bilked Out of $44 Million in “Blockbuster Book Deal” Scam

January 16, 2025 FraudsWatch 0

San Diego, CA – In a shocking case of fraud, a federal grand jury has indicted three individuals for allegedly swindling over 800 elderly authors out of more than $44 million. The scam, orchestrated through […] Read More

Advanced Banking Security: Defend Against Evolving Fraud Tactics

January 12, 2025 FraudsWatch 0

In an increasingly digital world, the threat of banking fraud looms large, constantly evolving to exploit vulnerabilities in our financial systems and personal habits. While banks and financial institutions invest heavily in security measures, the […] Read More

Counterfeit Check Prevention in 2025: A Guide to Safeguarding Your Finances

December 15, 2024 FraudsWatch 0

Counterfeit checks remain a persistent threat in the modern financial landscape. As technology advances, so do the methods employed by fraudsters to replicate legitimate checks with deceptive accuracy. In 2025, proactive measures are crucial to […] Read More

Nader Pourhassan And Kazem Kazempour Founds Guilty in Elaborate Scheme to Defraud Investors During HIV and COVID-19 Crises

December 10, 2024 FraudsWatch 0

Former CEO of CytoDyn and Head of Contract Research Organization Face Decades in Prison for Securities Fraud, Wire Fraud, and Insider Trading In a resounding victory for investor protection, a federal jury in Maryland convicted […] Read More

Sean Donnell White Exploits Postal Service and Cryptocurrency Markets in Elaborate Fraud Schemes

December 9, 2024 FraudsWatch 0

Mobile, AL – A 30-year-old man from Theodore, Alabama, Sean Donnell White, has been sentenced to 32 months in federal prison for orchestrating a complex web of fraud that preyed on both traditional mail systems […] Read More

NJ Dean Sentenced in $1.3 Million Fraud Case

Teresina DeAlmeida Sentenced to Prison for $1.3 Million Fraud Scheme at NJ Graduate School

December 6, 2024 FraudsWatch 0

Newark, NJ – Teresina DeAlmeida, a 59-year-old former assistant dean at a graduate school in Essex County, New Jersey, has been sentenced to 36 months in prison for orchestrating an elaborate fraud scheme that spanned […] Read More

McKinsey Africa Pays $122 Million to Resolve Bribery Scheme in South Africa

December 5, 2024 FraudsWatch 0

Consulting giant implicated in widespread corruption, highlighting the need for greater transparency and accountability. Johannesburg, South Africa – McKinsey & Company Africa (Pty) Ltd finds itself at the center of a massive corruption scandal in […] Read More