Fraud

Can quantum computing tech kill fraud? The UK government thinks so, but with £100 million, I’m not so sure

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Can quantum computing tech kill fraud? The UK government thinks so, but with £100 million, I’m not so sure

The UK Government has announced a £121 million investment into quantum technologies, a move it says will help “tackle fraud, prevent money laundering, and drive growth”. The government hopes to achieve this by bolstering the UK’s world-leading research programmes, which it says will bring a “range of benefits to working people, including improved healthcare systems … Read more

Tech founder charged with fraud for ‘AI’ that was secretly overseas contract workers

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Tech founder charged with fraud for ‘AI’ that was secretly overseas contract workers

The US Department of Justice has indicted Albert Sangier for defrauding investors with misleading statements about his Nate financial technology platform. Founded by Sangier in 2018, Nate claimed it could offer shoppers a universal checkout app thanks to artificial intelligence. However, the states that the so-called AI-powered transactions in Nate were actually completed by human … Read more

Elon Musk’s sale of X to xAI just made fraud lawsuit a ‘lot spicer’

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Elon Musk’s sale of X to xAI just made fraud lawsuit a ‘lot spicer’

Billionaire investor Elon Musk has sold his social media platform X to his AI startup xAI in an all-stock deal, sparking controversy as it coincides with a US judge rejecting his bid to dismiss a lawsuit tied to the social media platform. The transfer of ownership of X to xAI on March 28 means that … Read more

Investigation launched into student loan fraud allegations | Politics News

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Investigation launched into student loan fraud allegations | Politics News

Fraud experts are set to investigate suspicions thousands of students are fraudulently claiming hundreds of millions of pounds in student loans with no plans to study – or pay the money back. The Public Sector Fraud Authority has been directed by Education Secretary Bridget Phillipson to start work immediately to halt the “growing threat” and … Read more

CEO of AI ad-tech firm pledging “world free of fraud” sentenced for fraud

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CEO of AI ad-tech firm pledging “world free of fraud” sentenced for fraud

A page from Kubient’s July 2020 prospectus for its initial public offering (IPO), making a few bold claims about the firm’s technology that would later factor into federal prosecutors’ charges. Credit: SEC A page from Kubient’s July 2020 prospectus for its initial public offering (IPO), making a few bold claims about the firm’s technology that … Read more

’47 Ronin’ director charged with $11 million fraud over doomed Netflix sci-fi series

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’47 Ronin’ director charged with million fraud over doomed Netflix sci-fi series

Carl Erik Rinsch, the director of 47 Ronin, has been charged for defrauding a streaming service out of $11 million, according to the Southern District of New York’s US Attorney’s Office. While the court documents didn’t name the service, an old report from The New York Times made it obvious that it was none other … Read more

Crypto Podcaster Jailed For 45 Months In Fraud Case

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Crypto Podcaster Jailed For 45 Months In Fraud Case

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The US Department of Justice (DOJ) has announced a crypto podcaster and online personality known as T.J. Stone has been sentenced to prison on a count of wire fraud. The convict allegedly swindled several unsuspecting victims of over $2 million in an … Read more

AML Bitcoin Creator Convicted Of Wire Fraud And Money Laundering

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AML Bitcoin Creator Convicted Of Wire Fraud And Money Laundering

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure A federal jury has convicted Rowland Marcus Andrade, the creator of AML Bitcoin, on charges of wire fraud and money laundering. The verdict was delivered after a five-week trial in a case that exposed false claims about the cryptocurrency and its supposed … Read more

AML Bitcoin founder convicted of fraud and money laundering

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AML Bitcoin founder convicted of fraud and money laundering

A federal jury has convicted Rowland Marcus Andrade, the founder and CEO of AML Bitcoin, of wire fraud and money laundering related to the fraudulent marketing and sale of the cryptocurrency. The verdict was reached after a five-week trial in the Northern District of California, with Chief U.S. District Judge Richard Seeborg presiding. According to … Read more

Fake jobs and phone calls: How Americans lost $12.5 bn to fraud in 2024

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Fake jobs and phone calls: How Americans lost .5 bn to fraud in 2024

In 2024, Americans lost $12.5 billion to scams, up $2.5bn year-on-year Scams originating online outperformed more traditional methods The elderly are no longer the ones losing most money American citizens lost $12.5 billion to different kinds of fraud in 2024, a new report from the US Federal Trade Commission (FTC) has claimed, meaning the number … Read more