Independent thinking for complex markets and current events
A recent breach involving H&R Block Canada has exposed tens of thousands of Canadians to a massive fraud operation, with criminals siphoning off over $6 million in false refunds. Hackers exploited confidential information to access Canadians’ CRA (Canada Revenue Agency) accounts, altering direct deposit details, filing fraudulent tax returns, and directing refunds into unauthorized accounts. …
Toronto’s rental crisis is spiraling out of control. Over half of rental applications are now ensnared in fraud traps, as soaring costs and economic pressures take their toll. The city is witnessing an alarming increase in fake IDs, manipulated credit reports, and counterfeit employment letters. This surge in fraud is wreaking havoc on landlords, with …
By Martin Armstrong Colorado Judge Matthew Barrett just sentenced Tina Peters to nine years in prison. Nine years. Tina Peters is a 69-year-old woman, with no prior criminal record, who was found guilty of “attempting to influence a public servant in violation of duty” among other election-related… pic.twitter.com/r1uSSPshRP — Viva Frei (@thevivafrei) October 3, 2024 …
Wow, it is now illegal to require voter ID in California! They just made PREVENTING voter fraud against the law. The Joker is in charge. https://t.co/rVNwsh3jqt — Elon Musk (@elonmusk) October 1, 2024 🚨JUST IN: Gov. Gavin Newscum signs SB 1174 into law. This bars any Voter ID requirement at polling locations. Per the bill …
A supervisor at the Rhode Island Department of Human Services (DHS) was arrested for allegedly committing benefits fraud, U.S. Attorney Zachary A. Cunha announced Tuesday. 12 News Reporter Alex Torres-Perez has the story.
https://twitter.com/SpartaJustice/status/1831445160166879727 Kamala is so fake and inauthentic. This is like a bad sitcom. How can she be this close to the Presidency? pic.twitter.com/BmyTw0TRHF — MAZE (@mazemoore) September 5, 2024 🚨 CBS Boston just CALLED OUT Kamala Harris for bussing in hundreds of people to make it look like she has support This is so freaking …
They got the GDP when they built them. Where's the write-off now? China's economic "success" is a paper-thin fraud. It's now catching up with them. https://t.co/PAzckoVhGt — Jim Rickards (@JamesGRickards) September 2, 2024 The property crisis in China continues to weigh down the economy This morning has brought more news on the ongoing Chinese property crash …
The U.S. is in a massive housing bubble. Prices are artificially high due primarily to the downstream effects of financialization. Localized supply and demand dynamics — which today are also downstream of financialization — are a mess. Decades of housing subsidies, down payment assistance, artificially low interest rates, money printing and endless bank support have …
Former New York Rep. George Santos pleaded guilty Monday in federal court in Long Island to committing wire fraud and aggravated identity theft. Santos, a Republican, had been set to begin trial next month on a 23-count superseding indictment accused him of wire fraud, identity theft, and making false statements to the Federal Election Commission. …
About four months after a notorious hacking group claimed to have stolen an extraordinary amount of sensitive personal information from a major data broker, a member of the group has reportedly released most of it for free on an online marketplace for stolen personal data. The breach, which includes Social Security numbers and other sensitive …
Senator Bob Menendez, a Democrat from New Jersey, was found guilty on all counts in his federal corruption trial on Tuesday. The charges included bribery, conspiracy to commit bribery, and honest services fraud, among others. According to the allegations, Menendez accepted various forms of payment, including cash, gold bars, and mortgage payments, in exchange for …
via WSJ: U.S. prosecutors are cracking down on commercial mortgage fraud, a growing push that is sending shudders through the $4.7 trillion industry by raising questions about the numbers underpinning major property loans. Regulators and federal prosecutors say that property loans based on doctored building financials and valuations have been rising. This type of fraud …
by confoundedinterest17 MMT is mostly magic! The Federal Reserve relies on “The Power of Magic” to fool people. For example, the massive increase in money printing following Covid and Biden’s disastrous economic policies (or FOLLICIES). Modern monetary theory (MMT) is not convincing to most trained economists of various schools of thought. This causes many to balk at MMT and mock it, …
Each quarter, my company Sift produces an index report to better understand the latest online fraud trends, including how businesses and consumers are affected, emerging fraud tactics, and how fraud impacts consumer behavior when making purchases online. For the past two quarters, we’ve seen a surprising generational divide emerge: Gen Z— born between 1997 and …
Articles: Chase Bank Customers Are Reporting a Wave of Wire Fraud in their Accounts; the Bank Won’t Make Good on the Looted Funds https://wallstreetonparade.com/2024/06/chase-bank-customers-are-reporting-a-wave-of-wire-fraud-in-their-accounts-the-bank-wont-make-good-on-the-looted-funds/ Major Japanese Bank Sets Crash Course for American Shores https://www.thedailydoom.com/p/major-japanese-bank-sets-crash-course h/t Guest
Curtis Murrah says he’d been a loyal customer with USAA for 28 years — until his wife rang him up one day saying she couldn’t make their mortgage payment because there wasn’t any money in their account. Murrah, who’s based in Georgia, says he took a closer look at his accounts and discovered someone was …
“We’re going to have war rooms set up in every state across this country to deal with things as they happen not days, weeks, or months later.” “If we don’t have free, fair, and transparent elections, nothing else matters.” This is the most important thing the RNC can do. We need to get ahead of …
A new scam technique called social engineering fraud is growing fast. The latest generation of AI tools makes it easier than ever for scammers to impersonate a friend or loved one. Here’s what to watch out for… From Birch Gold Group In 2023, people in the U.S. reported losing over $12.5 billion to online fraud. This is a …
American taxpayers may soon be burdened with a staggering $32 billion bill for employment fraud, a crisis that has been attributed to the Biden administration. The enormous bill is partially blamed on Biden’s labor head, Julie Su, who served as California’s top labor official during the COVID-19 pandemic when most of the fraud payments were …
Two Illinois State Police officers from the Chicago area are suspected of defrauding the federal Paycheck Protection Program that provided loans to businesses struggling during the COVID-19 pandemic. On their loan applications, one said he ran a sports program for kids, listing “babysitting” as the primary purpose of his business. The other said he was …
The Federal Reserve’s FraudClassifier divides fraud into two categories: authorized fraud and its unauthorized counterpart. Authorized fraud occurs when a legitimate party initiates a payment only to have a bad actor intervene and hijack the funds. Unauthorized fraud, on the other hand, happens when bad actors initiate or redirect a payment through an account takeover …
Bitcoin is the future! Why has there been so much fraud and ill doings surrounding this farcical shit…? AC
Evergrande is accused of committing fraud totaling $78 billion, which would make it the largest case of financial fraud in history, surpassing that of Enron, WorldCom, FTX, and even Madoff's $68 billion ponzi. pic.twitter.com/cpnvpJkWBb — Win Smart, CFA (@WinfieldSmart) May 14, 2024 Brace for seismic tremors in the financial world as Evergrande, the Chinese real …
A former Wells Fargo broker accused of stealing funds from clients avoids consequences despite refusing to cooperate with the investigation. This incident sheds light on Wells Fargo’s troubled history, including instances of defrauding customers and facing legal action. How much money did Wells Fargo steal from customers? The CFPB said the more than $2 billion …
HANOI, April 17 (Reuters) – Vietnam has mounted an “unprecedented” rescue of Saigon Joint Stock Commercial Bank (SCB), a lender engulfed in the nation’s biggest financial fraud, according to three bank documents and new official information provided to Reuters by a person with access to the documents. “Without lending, SCB will collapse,” according to the …
Staggering stat from the WSJ. Banks are doing some serious can kicking so they don’t have to mark down losses on loans Only 25% of CRE loans were paid in full. Where are the regulators to end this BS? Lenders have the banks by the balls. The whole thing is a giant sham pic.twitter.com/Ns7tEGuBYI — …
The bond, reduced from the $464 million judgment that was originally due March 25, prevents the seizure of Trump’s assets while the case is under appeal. Former President Donald Trump has posted a $175 million bond in the New York civil fraud case, preventing seizure of his assets while the case is under appeal. A …