Today’s Fraud News from around the world:
Apple confirms ‘Report a Problem’ button will fight App Store scams, fraud: Apple has confirmed that a new “report a problem” button in App Store listings is meant to fight scam apps, and also reminded developers to add account deletion options by January 2022.: “Fraud” – BingNews
California pharmacy owner gets 5 years for M fraud scheme: A man who owned a Southern California pharmacy was sentenced to over five years in prison after he admitted submitting more than $ 13 million in fraudulent insurance claims for expensive medication.: “Fraud” – BingNews
Texts between Elizabeth Holmes and secret lover Sunny Balwani are revealed in court: The texts are among thousands of exhibits that were made public on Monday by the US District Court in the Northern District of California, where Holmes is on trial for fraud.: “Fraud” – BingNews
Fraudulent claims dropped 10% in 2020 – ABI: Fraudulent claims fell by 10% between 2019 and 2020 to reach 96,000 – the lowest amount since 2007, according to ABI’s latest general insurance fraud figures. These claims totalled £1.1bn, indicating …: “Fraud” – BingNews
Fingerprint PAD Competition: First place for DERMALOG: Plastic fingers or other artificial fingerprints can trick fingerprint scanners. There are many cases where unauthorized persons have …: “Fraud” – BingNews
Citizens Against Government Waste Releases Trillion in Prime Waste-Cutting Recommendations: Prime Cuts 2021 is the latest edition of CAGW’s extensive recommendations to eliminate waste, fraud, abuse, & mismanagement in the federal government.: “Fraud” – BingNews
New phone service being piloted to combat increasing levels of fraud: A new service has been developed and is currently being piloted by a range of banks and telephone companies across the UK in order to combat the increasing levels of fraud in the UK. The service, …: “Fraud” – BingNews
Lindsey Graham booed by own party for encouraging Covid vaccinations: If you haven’t had the vaccine, you ought to think about getting it because if you’re my age…’ senator says before being shouted down …: “Fraud” – BingNews
Ping Identity Adds New Online Fraud Detection and API Intelligence Tools to PingOne Cloud Platform: Ping Identity (NYSE: PING), the intelligent identity solution for the enterprise, continues to enhance its PingOne Cloud Platform with new online fraud detection and other intelligent capabilities …: “Fraud” – BingNews
Banbury area elderly couple taken for £3,000 in courier fraud scam: A spokesperson for the Northamptonshire Police confirmed the incident happened after an elderly couple received a call from someone purporting to be a police officer who requested money, which they …: “Fraud” – BingNews
Fraud Prevention Tip: Scrutinise the payment methods – As an online retailer you need to know the types of payment methods and their pros and cons in terms of your business. For example regular credit cards (AMEX) tend to favour the cardholder in disputes (chargebacks sound familiar)? But they are still the most widely used payment method and you do have to look at the convenience of your customer. Paypal on the other hand is a more merchant friendly option and has advanced scam protection features and advanced machine learning capability that actively works to mitigate scam risk. On the other hand Paypal also authorises chargebacks it’s not totally fool proof. Cryptocurrencies are another popular payment method; the blockchain tech makes it nearly impossible for forced refunds and since there are records of all transactions it is undeniable by the customer. On the negative side the value of cryptocurrencies is quite volatile so what’s it worth today it might hold the same value the next day or it could be worth more.