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Scam Reimbursements
Scam reimbursement is a hot topic among regulators worldwide. Here’s a summary across countries: US – While unauthorized electronic fraud is well-covered under Regulation E, there’s no mandatory reimbursement for scams where users are tricked into sending money. Barring the state of California, where there are regulations to protect elders, offering elder protections even if…
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Crypto Scams to Watch Out for
Fraudsters are usually amongst the first ones to adopt any new technology before it matures. While the knowledge is limited among users and wide open gaps exist in the security, controls, knowledge and regulation in a novel domain, they cash in on the initial chaos. And this is true of Cryptocurrencies as well. While crypto…
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Biometrics, the Fraud Slayer
Biometrics have come a long way. In the old days I had a credit card with a bank that used what we in the trade call “active voice bio”. And, to set up my active voice biometric I was supposed to say “My voice is my favorite password” or something geeky like that to bypass…
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ATM Fraud
A Few Cases of ATM Fraud in recent times Over a long weekend, there was an attack on an American bank’s ATMs. As usual it was picked up first by David Maimon (I remember giving him a like on Friday.) When you work in fraud, one thing’s a given – bad news always hits you…
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How to spot fake currency
Typically, larger denomination notes are more prone to counterfeiting. So here are the key features that is useful to know about the new series the ‘hari patti’ aka ₹500 – Obverse (front) side – Reverse side of the note – It turns out that that since 2013-14 to 2022-23 there’s been a 68% drop in…
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What hit the fan at WazirX
Cyber Heist at an Indian crypto exchange WazirX, an Indian crypto exchange got hit by one of the worst cyber heists on an Indian exchange and funds lost exceeded $230 million. Typically, crypto heists would not entirely be in my wheelhouse, but financial fraud that size always gets me curious. Been poking around their blog…
