News 

Google Cloud made big changes to its fraud-detection system in response to an angry customer complaint that went viral

“A lot of criticism was directed at GCP earlier this month when a customer complaint posted to Medium went viral” writes Greg Sandoval for businessinsider.com. Protecting the reputation of Google’s cloud service is vital as the company looks to compete with larger competitors such as Amazon Web Services and Microsoft’s Azure cloud unit.More importantly, Google has added more humans to its fraud-detection mix, so those overseeing accounts mistakenly accused of fraudulent activity can reach out for help, 24/7. Source: businessinsider.com Share This:

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UK binary options clampdown sees another fraudulent entity wound up

“At the end of October, the UK High Court wound up binary options scam firms behind Magnum Options, following an investigation by the Insolvency Service” reports financefeeds.com. The clampdown on binary options scams in the UK has seen a number of fraudulent entities closed.The Insolvency Service has confirmed that another binary options company was shut down over false and misleading claims.The efforts of the UK authorities to tackle binary options scams continue.The High Court heard that Eclipse was persuading people from Britain and all over the world to invest in a…

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Devin Nunes: Trump should declassify ‘100 percent fraudulent’ FISA warrant for Carter Page

“Nunes said this clash could end if Trump got involved and declassify “pertinent parts” of a Foreign Intelligence Surveillance Act warrant used to spy on onetime Trump campaign aide Carter Page” reports washingtonexaminer.com. House Intelligence Committee Devin Nunes, R-Calif., said he believes the warrant used to spy on a member of the 2016 Trump campaign was “100 percent fraudulent” and called on President Trump to declassify all related information for the American public to see whether there was an effort to frame then-candidate Trump.The memo alleged that agents failed to…

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Brokers News 

Duo behind fraudulent Forex broker BlackfortFX get sentenced in New Zealand

“The individuals behind fictitious Forex broker Arena Capital Limited, also known as BlackfortFX, were sentenced in New Zealand today” reports financefeeds.com. KordaMentha were appointed receivers of Arena in May 2015, after New Zealand’s Financial Markets Authority (FMA) confirmed that it was undertaking an investigation into the “broker”. Source: financefeeds.com Share This:

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A 23-year-old has been arrested after being accused of making $1.3 million in fake returns at more than 1,000 Walmart locations, and it reveals a dangerous trend sweeping the industry

“Authorities at the Yuma Police Department say Frudaker made similar fraudulent returns at more than 1,000 Walmart stores across the United States over the past 18 months, costing Walmart roughly $1.3 million” writes Kate Taylor for businessinsider.com. A 23-year-old man has been arrested on charges of theft, criminal damage, and fraudulent schemes. Source: businessinsider.com Share This:

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France’s AMF reports closure of 138 binary options, Forex websites during three-year period

“Over a three-year period (since 2014), the regulator has secured the blocking of 138 fraudulent websites operated by online trading firms” reports financefeeds.com. France’s Financial Markets Authority (AMF) has earlier today provided data with regard to its actions against binary options and Forex firms that illegally target French residents.AMF estimates the black lists of unauthorized Forex and binary options firms now include 445 entries.The latter prohibited all types of digital advertising and sponsorships related to toxic products like binary options.The investigated and closed files concerning Forex and/or binary options have resulted…

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Crypto News 

Fraud rap for cryptocurrency promoted by DJ Khaled…

“DJ Khaled and boxer Floyd Mayweather touted an allegedly fraudulent Initial Coin Offering from Centra Tech” reports yahoo.com. Inc., but are not themselves charged (AFP Photo/KEVIN WINTER) New York (AFP) – The US Securities and Exchange Commission on Monday laid charges over a fraudulent cryptocurrency fundraiser that boxer Floyd Mayweather and rapper DJ Khaled touted on social media. Source: yahoo.com Share This:

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Crypto News 

SEC charges founders of fraudulent ICO backed by Floyd Mayweather that raised $32 million

“The Securities and Exchange Commission has charged two founders of a fraudulent initial coin offering (ICO) that raised more than $32 million from thousands of investors last year” writes Apr Edt for theverge.com. Cryptocurrencies are notoriously volatile and governments are also clamping down on the digital tokens. Source: theverge.com Share This:

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Crypto News 

Founders of a cryptocurrency endorsed by Floyd Mayweather charged with fraud by SEC

“Two founders of a cryptocurrency firm that was endorsed by champion boxer Floyd Mayweather have been charged with carrying out a fraudulent initial coin offering (ICO) by the U.S. Securities and Exchange Commission (SEC)” writes unknown author for cnbc.com. Inc., masterminded a fraudulent ICO in which Centra offered and sold unregistered investments through a “CTR Token,” the SEC alleged in a statement Monday.The SEC alleged that Centra had no relationship with either company.The SEC clarified in March that it is looking to apply securities laws to cryptocurrency exchanges and wallets. Source:…

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Appsflyer: Mobile app fraud hit $800 million in Q1, up 30%

“The share of fraudulent app installs has grown by 15 percent, tainting 11.5 percent of all marketing-driven installs” writes Dean Takahashi for venturebeat.com. By February, bots replaced device farms as the most popular form of attack — responsible for over 30 percent of fraudulent installs,” the company said.AppsFlyer found that fraud targeting mobile app marketers is evolving faster than ever.Mobile tracking and marketing firm AppsFlyer said in a new study that mobile app marketers were exposed to $700 million to $800 million in ad fraud in the first quarter of 2018, up 30…

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