Fraud detection

Fraudsters are leveraging advanced artificial intelligence to impersonate customers and deceive financial institutions, but the industry is fighting back with detection systems.

One area of focus for the bank is using advanced artificial intelligence to detect business-email compromise. The payment messaging network Swift and online gambling host Caesars are also using AI to stop people from gaming their systems.

An attorney for Keith Todd Ashley said he plans to appeal his fraud conviction and plead not guilty to capital homicide.

David W. Schamens defrauded clients for $6.8 million in a Ponzi scheme despite being banned by the SEC decades earlier, according to investigators.

OU’s law school enlisted a former player from one of its fiercest rival schools to help students understand how to avoid the pitfalls of misconduct.

German Nino concealed fraud losses totaling $5.8 million through fake account statements and other doctored documents, investigators say.

The combination of technology and rising client interest in digital assets are ratcheting up the risks to investors, according to NASAA.

An emergency cease and desist order stopped the imposters in time.

Three recent criminal cases raise concerns that wealth managers and regulators aren’t detecting alleged fraud quickly enough or disclosing basic information about crimes and disciplinary problems.

Credit Suisse has discovered fraud at its international wealth management business, two years after it was criticized by a regulator in a similar case that rattled the bank and raised questions about controls.