Tag: fraud
China Takes Lead at Global Fraud Summit
All countries are invited to join an intergovernmental alliance of law enforcement against telecom and cyber fraud, with a permanent secretariat in China.
Global Telco Suspended from Anti-Fraud Consortium after CEO Accused of ‘Breathtaking’ $500mn Loan Fraud
American financiers say Bankim Brahmbhatt fabricated accounts receivable at Broadband Telecom and Bridgevoice, two of the telcos belonging to Bankai Group.
1,200 Simboxes Seized in Latvia; Sold Phone Numbers from over 70 Nations to Criminals Online
Multiple European police forces contributed to the investigation. They described crimes committed using these simboxes in a matter-of-fact style that contrasted with melodramatic guff spread after a big simbox bust in New York.
$128mn Payout after Telco Cheats Taxpayers for 10 Years
There was also a 5-year prison sentence for Issa Asad, CEO of Q Link Wireless, a provider of comms services to customers in 31 US states.
Mobile Money: So Much Growth, So Many Questions
Collaboration in fraud prevention has not kept pace with the rate at which users adopt mobile money services.
Law Firm That Threatened Commsrisk Faces Disciplinary Action for Representing $4bn Cryptocurrency Fraudsters
Carter-Ruck sent libel threats to financial experts who rightly warned that OneCoin was a giant scam.
South Korean Police to Run Telco and Financial Fraud Center on a 24/7/365 Basis
Both the public and private sectors have significantly ramped up their anti-fraud efforts following the SK Telecom breach.
Introducing the Commsrisk Global Fraud Dashboard
Our new AI-powered scripts automatically gather the latest data from reputable sources in the public and private sector. We launch with 11 finished maps and graphs, and with more in development.
Aussie Police Arrest Suspected Number Porting Fraudster
A Melbourne man is alleged to have succeeded in porting 44 phone numbers belonging to other people by submitting 193 different porting requests.
Does Anyone Care about Mobile Money Fraud?
Mobile money fraud persists despite warnings. Telcos prioritize profits over prevention, leaving vulnerable users unprotected. Stricter regulations and accountability are overdue.
Modern High-Tech Slavery: 300,000 Scammers Work from Compounds in Myanmar, Cambodia and Laos
Failing to calculate the true cost of network crime has led to a wholly inadequate response from both the private and public sector.
BICS Says It Stopped Over $90mn of Fraudulent Traffic in 2023
The international wholesale carrier identified large rises in the number of robocalls and smishing messages that needed to be blocked.
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The Commsrisk Global Fraud Dashboard
Our Global Fraud Dashboard uses AI-powered search to collate, update and visualize data about scams and other network abuses from around the world. New charts are added each month. See it here.
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