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  1. Group-IB conducted research into fraud ecosystems in the United States and Australia.

Australian Buy Now, Pay Later Company Reports Major US Fraud Attack

1 report, 1 independent Updated Fri 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Australian disclosed an external fraud event in the United States, which involved the coordinated creation of new accounts used for untraceable transactions. This incident caused the company's shares to plunge by 29.35% on October 23, 2026, marking its biggest one-day drop on record. The fraud temporarily reduced transaction volumes in July and August.

From ibtimes.com.au

Why it matters

Some supportBrind's analysis of the reports

The fraud impacted the company's credit performance, with net bad debts written off rising to A$49.5 million in the quarter. The incident also added A$7.2 million to cash operating expenses, though other reports cite the cost at A$10.1 million.

Group-IB conducted research into fraud ecosystems in the United States and Australia.

From ibtimes.com.au

Who's involved

  • AustralianThe Australian company that disclosed the coordinated fraud attack and subsequent financial losses.

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Group-IB conducted research into fraud ecosystems in the United States and Australia. All 1 developments

The entities involved

Coverage

Newest first; wire copies grouped