In today’s rapidly advancing technological landscape, artificial intelligence serves as a double-edged sword. While it brings numerous benefits, such as efficiency and convenience, it also provides innovative tools that fraudsters exploit to manipulate and deceive. One harrowing example of this trend is the case of Ann Jensen, a UK woman who lost £20,000 to sophisticated […]
US FTC Targets Tech Support Scams with New Rule Changes
The Federal Trade Commission (FTC) has made a significant move to protect consumers from the alarming rise of tech support scams. With a new set of rule changes, the agency aims to close the longstanding loophole that previously allowed scammers to operate with impunity. These changes are crucial in a landscape where consumers have become […]
Join Imran Amed and The Business of Fashion in Bangkok
The Business of Fashion (BoF) is set to make a significant mark in Thailand with its inaugural community event happening on November 25, 2024. This gathering presents an exclusive opportunity for BoF Professional members to connect and engage with other industry professionals in a uniquely engaging environment. Hosted at the iconic Dusit Thani Bangkok, attendees […]
Crypto firm Gotbit's founder faces fraud charges
Aleksei Andriunin, the founder of the cryptocurrency firm Gotbit, has found himself at the center of a major legal storm. The United States Department of Justice has officially indicted him for allegedly orchestrating a substantial conspiracy that aimed to manipulate cryptocurrency markets. This case highlights the growing scrutiny on the cryptocurrency sector, which has been […]
MyTrade Founder Pleads Guilty to Fraud in Boston Court
The cryptocurrency landscape has recently been rocked by revelations from a high-profile court case in Boston, where Liu Zhou, the founder of the digital trading firm MyTrade, admitted to engaging in fraudulent activities. This plea comes on the heels of a sprawling FBI investigation, known as “Operation Token Mirrors”, which has brought to light significant […]
Fraud Allegations Against Former Crypto Exchange CEO Highlight Industry Concerns
Australia’s financial landscape is facing a serious test as the Australian Securities and Investments Commission (ASIC) charges Grant Colthup, the former CEO of Mine Digital, with fraud regarding a transaction of A$2.2 million. This case is significant, not only for the individuals involved but also for the broader cryptocurrency sector, which continues to grapple with […]
Binance Partners with Delhi Police to Uncover $100,000 Solar Scam
In a significant crackdown that highlights the intersection of finance and fraud, Binance, the world-renowned cryptocurrency exchange, has joined forces with the Delhi Police to expose a fraudulent scheme that has cost investors a staggering $100,000. The scam, perpetrated by a company claiming to be “M/s Goldcoat Solar,” was cleverly designed to exploit India’s burgeoning […]
EU Modernises Civil Liability Laws to Enhance Consumer Protection and Adapt to Technological Advancements
In a landmark decision, the European Union has enacted a directive aimed at modernising civil liability laws. This significant update is designed to bolster consumer protection while responding to the growing influence of technological advancements and the principles of the circular economy. The revision of these laws, which now encompasses a wider definition of what […]
Temu Faces Deadline from EU Over Illegal Product Sales
In a significant development for e-commerce regulators, the European Commission has imposed a deadline of October 21 for the Chinese online marketplace, Temu, to respond to inquiries regarding its compliance with the Digital Services Act (DSA). This scrutiny arises as the Commission seeks concrete information about the platform’s strategies to combat the sale of illegal […]
FBI Creates Token to Expose Crypto Fraud Ring
In a remarkable development in the world of cryptocurrency regulation, the FBI has recently conducted a successful sting operation targeting a fraudulent crypto ring, employing an innovative approach with the introduction of its own token. Named the NexFundAI Token, this cryptocurrency was launched on the Ethereum blockchain and played a pivotal role in exposing various […]