The state's banking commissioner said the married founders of Valuex Research and Valuex Fintech used investor money for rent, plastic surgery and shopping instead of funding a promised investing tool.

More Americans than ever are falling victim to sophisticated financial scammers and fraudsters. A federal task force is needed to bring together the resources to effectively push back against criminals.

An executive order requiring the government to stop issuing paper checks is expected to help banks, which have seen a rise in check fraud with the introduction of mobile deposits and digital check imaging.

A new survey shows banks overwhelmingly support state laws that let them pause transactions to prevent elder financial abuse, despite shortcomings.

Scambaiting, which started as a genre of YouTube content, is now a full-blown tech tactic — with support from Australia's biggest bank.

Apollo Global Management's billionaire co-founder Marc Rowan described conversations he and Charlie Javice had during her discussions with the bank, including about a one-on-one meeting she had with JPMorgan Chief Executive Officer Jamie Dimon.

Marc Rowan's membership on Frank's board was cited by the defense at the beginning of trial as showing Charlie Javice's company was a legitimate and credible business.

The card network said it saved would-be victims $350 million in the first year after it combined several crime-fighting units.

Both consumers and banks reported that the rate of fraud and scams has steadied, according to Fincen and FTC data, but the total cost continued rising.

The question is no longer whether the financial services industry needs a unified approach to combating instant payment fraud but who will take the lead to make it happen. The onus is on the biggest players in the market to show the way forward.

The alleged ringleader and 23 others face charges in a bank fraud scheme spanning three south-central counties.

The bank is partnering with the fraud protection platform to offer tools to help clients — especially older adults — avoid scams and financial mistakes.

The student aid startup founder is accused of securities fraud, wire fraud, bank fraud and conspiracy.

The amended language in the bank's terms and conditions will halt payments to social media sellers. It comes as banks on the P2P app face increased political pressure to step in and stop payments to scammers on the platform. 

At a trial that starts this week in Manhattan, federal prosecutors will seek to prove that Charlie Javice, the founder of college financial-planning startup Frank, and chief growth officer Olivier Amar committed fraud to get JPMorgan Chase & Co. to go through with the 2021 transaction.

The Columbus, Ohio-based bank has unveiled a product that lets adults who need help managing their finances and guarding against fraud give limited account access to someone they trust.

A survey by American Banker indicates that check fraud is the top fraud concern for banks, especially smaller ones. This is driving spending to prevent it.

The ruling lets state Attorney General Letitia James continue arguing Citi should have reimbursed customers for wire fraud, though some claims were dismissed.