Tag: fraud
eCommerce losses to online payment fraud to exceed $48 billion globally...
A new study from Juniper Research has found that the total cost of eCommerce fraud to merchants will exceed $48 billion globally in 2023, from just...
UK government launches fraud and money laundering crackdown
The UK government has announced plans to rolled out reforms to protect the economy from fraud and money laundering.
The Economic Crime and Corporate Transparency...
Flutterwave, Kenya saga: Nigerian investors sue for funds recovery
Over 2,000 Nigerian investors have petitioned Kenyan courts to release funds which were earlier frozen by the Asset Recovery Agency (ARA) in a fraud investigation against...
Kenya drops money laundering case against three Nigerian companies
Kenya's Assets Recovery Agency (ARA) has dropped a lawsuit against three Nigerian companies; Avalon Offshore Logistics Limited, OIT Africa Limited, and RemX Capital Limited,...
AfCFTA Hub to stem digital payment fraud – Minister
Minister of Communications and Digitalization, Ursula Owusu-Ekuful says the AfCFTA Hub, an integrated and comprehensive digital platform designed to drive trade in Africa will...
German watchdog urges Allianz to improve internal controls
Germany’s financial regulator BaFin has call on Allianz to improve its internal controls following a fraud scandal in their US fund unit.
A source told...
Ping Express Saga: How FinTechs can avoid anti-money laundering compliance problems
The year 2021 saw more and bigger deals closed in Africa. Interestingly, the tech ecosystem in Africa raised over $5 billion, with about $1.49...
Several African fintechs stop virtual dollar card services amid FRAUD
Many African fintech startup companies shut down their virtual dollar card services after a reported “chargeback” fraud.
On Friday, Nigerian fintech company Flutterwave sent a...
Two Nigerian Fintech executives jailed in US over money laundering
Two Nigerian executives of a Texas-based fintech, Ping Express, have been convicted of money laundering in the US in a matter involving US$167 million fraudulent...
Two other Nigerian tech firms accused of FRAUD in Kenya
Last week, Flutterwave was accused of money laundering in Kenya. Barely a week later, Nigerian-owned fintech Korapay and liquidity management provider Kandon Technologies Limited...