billions, and CEO fraud is also a scam with large payouts. The FBI estimates that theBusiness Email Compromise (BEC) scam is worth $26 billionand continues to grow in popularity. Between 2018 to 2019, the FBI also indicates that there was a 100% increase inBEC scams, including CEO fraud....
Corporate fraud refers to illegal activities undertaken by an individual or company that are done in a dishonest or unethical manner. Often, this kind of business fraud is designed to give an advantage to the perpetrating company or individual, as in the case oftunneling. Corporate fraud schemes...
“Fraud” is any activity that relies on deception in order to achieve a gain. Fraud becomes a crime when it is a “knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment” (Black’s Law Dictionary). In other words, if...
Safeguarding personal information is paramount in today's digital landscape, as it can help protect individuals from identity theft, financial fraud, and privacy breaches. Here are some tips: Regularly monitor financial statements to detect and address unauthorised transactions promptly. ...
Securities fraud, also referred to as stock or investment fraud, is a type of seriouswhite-collar crimethat can be committed in a variety of forms but primarily involves misrepresenting information investors use to make decisions. The perpetrator of the fraud can be an individual, such as astoc...
Refund fraud vs return fraud: what’s the difference? Refund fraud examples How to prevent refund and return fraud What is refund fraud? Refund fraud is atype of payment fraudin which an individual or a group of people falsely claim a refund or reimbursement from a company, government, or ...
“Fraud” is any activity that relies on deception in order to achieve a gain. Fraud becomes a crime when it is a “knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment” (Black’s Law Dictionary). In other words, if...
But first, what is a chargeback? It’s a refund initiated by a bank or credit card issuer on their customer’s behalf. Occasionally, a bank initiates a chargeback unprompted by the customer (for example, if it suspects fraud or an error). But the chargeback process is more commonly initia...
Friendly fraud is a major problem for online retailers—and a costly one, too. Here’s how to spot and deter friendly fraud for your ecommerce business.On this page What is friendly fraud? How friendly fraud affects businesses Why is friendly fraud growing? Types of friendly fraud How to ...
CEO fraud: What it is and how to identify it Identify and stop a CEO fraud attack with these tips. Learn how this scam, sometimes known as whale fishing, is aimed at company executives and how to master CEO fraud detection. Learn more ...