News & Analysis as of

Fraud Financial Transactions

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
American Conference Institute (ACI)

Making Victims Whole in a Multi-Jurisdictional Civil Fraud Case

Multi-jurisdictional civil fraud matters often present multiple challenges that make the tracing and recovery of assets a complex, costly, and time-consuming investigative process. Making a fraud victim whole again requires...more

Tenace

Protecting Your Small Business from Fraud: 8 Essential Steps and Best Practices

Tenace on

Fraud poses serious threats to all businesses, but small businesses are especially at risk. With limited resources, they often have less robust security measures, making them prime targets for bad actors. Recognizing the...more

Ballard Spahr LLP

CFPB report on banking in video games and virtual worlds

Ballard Spahr LLP on

On April 4, 2024, the CFPB issued a report examining the growth of financial transactions in online video games and virtual worlds. The report, titled “Banking in Video Games and Virtual Worlds,” highlights the growth and...more

Husch Blackwell LLP

CFPB Levels Up: Consumer Risks in Gaming Draws Regulatory Scrutiny

Husch Blackwell LLP on

If you thought virtual reality was free from real-world regulations, think again. On April 4, 2024, the CFPB released an Issue Spotlight that dives deeply into a realm the agency had not previously traversed—video games and...more

Perkins Coie

CFPB Issues New Report Examining Financial and Privacy Risks to Consumers in Video Gaming Marketplaces: What Now?

Perkins Coie on

On April 4, 2024, the Consumer Financial Protection Bureau (CFPB) issued a new report, titled “Banking in Video Games and Virtual Worlds” (Report), that examines the growth of financial transactions in online video games and...more

K2 Integrity

As Cryptocurrency Becomes More Mainstream, Payment Scam Risks Increase

K2 Integrity on

Payment scams exploiting the lure of cryptocurrency are a growing concern for individuals and businesses—losses from crypto scams increased from $907 million in 2021 to $2.57 billion in 2022. These scams typically involve...more

Robinson+Cole Data Privacy + Security Insider

Threat Groups Using Translation Tools in Phishing Attacks

It used to be that one of the sure ways to identify a phishing email was to notice grammatical errors or broken English in the text of the communication. Thanks to new translation tools like Google Translate, that are...more

Bilzin Sumberg

Crypto Litigation Claims, Defenses Industry Should Watch

Bilzin Sumberg on

Cryptocurrency companies face a steadily growing number of lawsuits, adding to a list of recent headaches for their industry. That list includes steep recent declines in investment value and a high probability of new...more

Womble Bond Dickinson

Ubiquitous and Creative Fraud is Regular Feature of DeFi

Womble Bond Dickinson on

If you read the hype, then you will have read that lack of regulation, speed of transactions, irreversibility of trades, and hidden identities are positive features of the crypto world. Crypto enthusiasts say that finance can...more

Cohen & Gresser LLP

A New Angle on Banks’ Duties to Customers in Fraud Cases: Philipp v Barclays

Cohen & Gresser LLP on

What is the scope of banks’ duties to customers in executing their customers’ instructions? In particular, what are banks’ duties if the instruction is the instrument of fraud? Earlier this month, the Court of Appeal...more

Latham & Watkins LLP

The Pervasive Threat of Business Email Compromise Fraud - and How to Prevent It

Latham & Watkins LLP on

Eliminating the risk of business email compromise (BEC) attacks requires all parties to a financial transaction to pay close attention to email security, financial controls, and communication protocols. Key Points: ...more

Orrick - On the Chain

Fraud is Fraud – Sales of Unregistered Digital Securities Resemble Classic Microcap Fraud

Orrick - On the Chain on

A Complaint filed by the SEC in the Southern District of New York last week reminds us that in the area of securities law violations there is not much new under the sun. Even though the action against Eran Eyal and...more

Orrick, Herrington & Sutcliffe LLP

Racketeer Influenced and Corrupt Organizations Act (RICO) - The World in U.S. Courts: Summer 2019

US Domestic Injury Found Where Theft Deemed to Have Occurred when Funds Transferred from US Bank Account Bascuñán v. Elsaca, US Court of Appeals for the Second Circuit, June 13, 2019 This opinion reflects the second time...more

Holland & Knight LLP

Second Circuit Confirms Physical Suppliers Don't Have Maritime Liens - Bank's Liens Still in Dispute in O.W. Bunker Case

Holland & Knight LLP on

• In the legal battle of competing maritime lien claims against vessels whose charterers contracted with O.W. Bunker & Trading A/S or its affiliates in October-November 2014, an important decision was issued this week by the...more

Farrell Fritz, P.C.

Treasury Secretary Escapes Fraud Claims

Farrell Fritz, P.C. on

On June 5, 2018, in RKA Film Financing, LLC v. Kavanaugh et al., the First Department unanimously affirmed the Supreme Court, New York County’s decision absolving the United States Secretary of the Treasury, Steven Mnuchin,...more

Dechert LLP

District Court Upholds Indictment of Turkish/Iranian Billionaire Charged with Evading US Economic Sanctions against Iran

Dechert LLP on

U.S. District Court Judge Richard M. Berman denied a motion to dismiss the indictment in the closely followed criminal prosecution of Reza Zarrab, a Turkish/Iranian businessman charged with conspiring to evade U.S. economic...more

Bilzin Sumberg

A Shift in Liability for Credit Card Fraud

Bilzin Sumberg on

For too long, “swiping” a credit card has had at least one meaning too many. There was “swiping” as it pertains to running the magnetic strip of your credit card inside the groove of a small payment terminal to make an...more

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