Fraud Detection Techniques: Importance and Examples
Fraud detection is more important than ever as it affects businesses, people, and banks. According to Alloy’s 2024 State of Fraud Benchmark Report, in the US, fraud rates increased by 62% in consumer accounts and 52% in business accounts. That’s why better fraud...
Is Fraud a Felony? Examples and Legal Penalties
Is fraud a felony? This question often arises as fraud—a deceptive act committed to gain an unlawful advantage—carries different legal classifications and multiple consequences. Learning about the distinction between misdemeanor and felony fraud is very important for...
Difference between Blackmail and Extortion
The risks of blackmail and extortion are on the rise more than ever. These tactics involve threats to reveal sensitive information or demand payment. Yet, with advancing technology, criminals can easily hide behind anonymous profiles, complicating the protection of...
Fraud vs. Money Laundering: What’s the difference?
Financial crimes such as fraud and money laundering often tend to be interconnected due to the nature of both crimes. Where fraud affects people, governments, or businesses, there are usually criminal groups that need to disguise that money as legitimate for use....