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Fraud in the News: What You May Have Missed  |  February 28, 2018

The PNB-Nirav Modi Scam Raises More Questions Than Answers

How a $1.8 Billion Indian Bank Fraud Lasted Seven Years

Takeaway: The story of how India’s biggest bank fraud went undetected for seven years includes an $81 million cyber-heist in neighboring Bangladesh, penny-pinching lenders and a series of missed opportunities.

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Thomson Reuters

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Austrian Bitcoin ‘Scam’ Triggers Police Search Across Europe

Takeaway: Austrian authorities are asking Interpol to help track down suspects in an alleged $115 million Bitcoin scam known as “Opioment” that may have hit hundreds, maybe thousands, of investors across Europe.

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DOJ’s Healthcare Fraud Unit Launches Data Analytics Team

Takeaway: The U.S. Department of Justice’s Healthcare Fraud Unit recently launched a Data Analytics Team for tackling health care fraud. This team will provide analytics to address the latest and greatest fraud trends in the industry and will be responsible for providing health care fraud analytics–focused training to U.S. Attorneys’ offices across the U.S.

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Learn how to be proactive in your data analytics approach at the ACFE’s upcoming live seminar, Using Data Analytics to Detect Fraud in Toronto.

#CantMakeThisFraudUp

Woman swindled $375,000 in an online romance scam. Then used it to buy a BMW. With cash. On the same day. She stole it.

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