Fraud

• The Philippine Social Security System (SSS) rolled out an AI‑powered fraud‑detection platform on May 7, 2026, using anomaly‑detection models trained on 15 years of pension and contribution records. • Initial testing reportedly flagged over 44,000 suspicious claims during a six‑month pilot, with an estimated $187 million in potential fraudulent payouts prevented before the nationwide launch. • The system, developed in partnership with a local AI‑analytics startup, analyzes over 120 behavioral and transactional features per claimant and pushes alerts to human investigators via a dashboard.

Prosecutors allege SPLC funneled over $3m to sources in extremist groups but legal experts say case is weakSign up for the Breaking News US newsletter emailThe Southern Poverty Law Center (SPLC) pleaded not guilty on Thursday to charges related to allegations the organization committed fraud and conspired to money launder.The 11-count indictment filed last month accuses the civil rights organization of committing fraud in connection to a program in which it paid informants to monitor rightwing extremist groups. The program no longer exists. The investigation is being handled by the US attorney for the middle district of Alabama, which includes Montgomery, the state capital. Continue reading...

• Zoven AI unveiled an AI-native platform designed to empower fraud and anti-money laundering (AML) teams with automated investigation capabilities. • The platform uses AI agents that understand existing fraud playbooks and investigate alerts automatically, enabling teams to regain control over compliance operations. • The solution addresses the growing need for efficient fraud detection in financial services, where manual review processes become increasingly inadequate at scale.

London-headquartered bank’s shares slide as it sets aside an extra $300m to cover effects of Middle East conflictBusiness live – latest updatesHSBC has suffered a $1.3bn (£961m) hit to profits, fuelled by the fallout from the US-Israel war on Iran and fraud in the troubled private credit sector.The London-headquartered bank said profits fell 4% in the first three months of the year, dropping $100m to $9.4bn, compared with the same period in 2025. Revenue increased 6% to $18.6bn. Continue reading...

Agriculture secretary claims without evidence Snap recipients included owners of luxury cars The Trump administration’s attack on the 87-year-old food aid program that supports tens of millions of low-income Americans escalated last week as the agriculture secretary, Brooke Rollins, claimed that 14,000 Supplemental Nutritional Assistance Program (Snap) recipients included owners of luxury vehicles such as Ferraris, Bentleys and Teslas.Critics charge that the broadside is part of a disinformation campaign aimed at undermining a benefit relied on by some of the most vulnerable people in the US. Continue reading...

Federal raids unfold in Twin Cities amid ongoing tensions between the Trump administration and Minnesota officialsSign up for the Breaking News US email to get newsletter alerts in your inboxFederal agents under the command of the Trump administration have descended on Minnesota’s Twin Cities again to primarily target alleged fraud at daycares after the US Immigration and Customs Enforcement’s so-called “Operation Metro Surge” all but wound down earlier in the year.“Today the FBI with federal, state and local law enforcement is involved in court-authorized law enforcement activity as part of an ongoing fraud investigation,” the US justice department told the Guardian in a statement on Tuesday. Continue reading...

• The acting Attorney General announced charges against the Southern Poverty Law Center alleging fraud in its informant program. • Authorities assert that the SPLC's informant program paid sources to "stoke racial hatred," suggesting deliberate misuse of funds and inflammatory activities. • The investigation remains ongoing with the possibility of future indictments naming SPLC executives as defendants.