Researchers recently described a scheme that allows affiliates to buy access to phishing materials. The case provides an insight into the methodical nature of some cybercrime.

U.S. brokerage units of JPMorgan Chase and UBS Group agreed to pay a combined $2.1 million in penalties to settle allegations from the Securities and Exchange Commission that they didn’t have the proper policies and programs in place to prevent customer identity theft.

A former Goldman Sachs Group banker was accused of passing insider trading information to a squash buddy, part of a group of nine people charged Monday by federal prosecutors in New York.

The National Crime Agency has seen a surge in so-called suspicious activity reports filed by banks and other regulated institutions in the U.K. since February. 

New types of financial products designed for the underserved can also be susceptible to scamsters, Juniper Research found, mirroring the Federal Trade Commission's concerns.

In one scheme, criminals impersonated a financial institution and defrauded victims of $3.7 million. The FBI advised banks to warn customers about such scams.

The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, which levied the penalties, say Bank of America unfairly froze customer accounts in its effort to stop rampant fraud in a program that distributed pandemic aid through prepaid debit cards.

Searching Google for information about student loan forgiveness surfaces advertisements that either appear to violate content policies or lead people to scams, according to a watchdog group, increasing public confusion as the Biden administration mulls actions on student debt.

The technology billionaire Romesh Wadhwani’s artificial intelligence software company agreed to buy BAE Systems' financial crime detection business, NetReveal.

U.S. senators led by Democrats Bob Menendez, Elizabeth Warren and Jack Reed told seven of the country’s biggest banks they must do more for consumers defrauded by scammers on Zelle, the person-to-person payments network the firms jointly own.