#fraud
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Civic, a project for blockchain-based identification, has released a tangible card aimed at validating users' identities. This card will integrate into the broader Civic ID system, serving as a deterrent against AI-facilitated fraud on various platforms during identity checks. 
The U.S. Securities and Exchange Commission (SEC) has charged an additional 17 managers connected to the cryptocurrency platform CryptoFX, accusing them of orchestrating a $300 million Ponzi scheme. This action comes 18 months after the SEC banned CryptoFX's operations and accused its founders of fraud. 
John Reed Stark, a lawyer and former SEC enforcement chief, has labeled the effort by the leadership of the now-bankrupt crypto exchange FTX and its associated legal firms to relaunch the platform as blatant fraud. He predicts that by the end of 2024, each attorney involved in this case will afford to buy a luxury beach house, effectively financed by the funds of FTX users. 
The U.S. Department of Justice has leveled charges against three American individuals for committing fraud through SIM card swaps. Bloomberg reports that among the companies affected was the cryptocurrency exchange FTX, which suffered a loss of over $400 million in client assets in the aftermath of its bankruptcy announcement. 
The U.S. Commodity Futures Trading Commission (CFTC) has brought to light a scheme by Debiex's staff, who allegedly developed personal and even romantic relationships with potential customers to draw them into their trading platform. The CFTC has now sued Debiex, charging them with fraudulent activities. 
David Pan, the founder of Taiwan's ACE Exchange, has been arrested under suspicion of fraud. His arrest is part of a wider operation that led to the detention of 13 other individuals and the seizure of over $6.4 million in suspected illegal funds. Ripple's Take on CBDCs: Opportunities and Risks
Currently, 130 countries, contributing to 98% of the global GDP, are actively examining CBDC projects. CBDCs are being considered as a means to enhance financial accessibility, encourage payment innovations, and reduce fraud. The Bank for International Settlements anticipates that within a few years, 20% of the world’s population will have access to CBDCs. 
The Chinese government is scrutinizing PricewaterhouseCoopers (PwC), the audit firm implicated in a significant fraud case with the Evergrande Group, involving around $78 billion. Chinese officials have reached out to PwC accountants who audited the construction giant, seeking more insights. The Growing Threat of Deepfake Video and Audio Calls
Envision a business call where a scammer, with convincing accuracy, pretends to be your boss to access confidential info or company funds. Being duped by such a deepfake and falling prey to fraud is simpler than you might assume, as AI now enables the creation of real-time, realistic videos. 
The Securities and Exchange Commission (SEC) has issued a press release targeting Brian Sewell, founder of Rockwell Capital Management. Sewell reportedly encouraged hundreds of online students to invest in his fund, claiming it employed cutting-edge AI-based crypto trading strategies. 
Taiwan's law enforcement agencies have requested the court to authorize the arrest of ACE Exchange's president Chenhuan Wang and four others on accusations of money laundering and fraud. They're also seeking to limit their interaction with others while under detention. 
In a significant move by U.S. authorities, Rodney Burton, a key promoter of the cryptocurrency venture HyperVerse, has been detained on accusations of conducting a fraud scheme exceeding $7 million. According to the U.S. Tax Service's filings, he masterminded a financial pyramid masquerading as a crypto investment opportunity. 
Aurelien Michel, the developer behind the Mutant Ape Planet digital collection, has admitted to orchestrating a $3 million fraud. Together with his accomplices, he launched a knock-off of the popular Mutant Ape Yacht Club series, duping investors with promises of perks and privileges for NFT owners. 
