How Foreign Scammers Use U.S. Banks to Fleece Americans
U.S. banks have failed to prevent mass-scale money laundering in the face of approximately $44 billion per year in pig-butchering scams conducted by Asian crime syndicates, according to a ProPublica investigation.
Chinese-language Telegram channels openly advertise rental of U.S. bank accounts to scammers who use them to move victims' cash into cryptocurrency. Bank of America allowed hundreds of unverified customers to open accounts, prosecutors alleged, including 176 customers who claimed the same small home as their address.
Major financial institutions whose accounts pig-butchering scammers have exploited include Bank of America, Chase, Citibank, HSBC and Wells Fargo. The scams typically involve fake cryptocurrency trading platforms that convince victims to wire money to seemingly legitimate business accounts. Banks are reluctant to share account information with each other even after identifying suspicious activity, and "no real standards" exist for what banks must do to detect fraud or money laundering.
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The HDMI Forum has officially finalized HDMI 2.2, doubling bandwidth from 48 GB/s to 96 GB/s compared to the current HDMI 2.1 standard. The specification enables 16K resolution at 60 Hz and 12K at 120 Hz with chroma subsampling, while supporting uncompressed 4K at 240 Hz with 12-bit color depth and uncompressed 8K at 60 Hz.
The new standard requires "Ultra96" certified cables with clear HDMI Forum branding to achieve full bandwidth capabilities. HDMI 2.2's 96 GB/s throughput surpasses DisplayPort 2.1b UHBR20's 80 GB/s maximum. The specification maintains backwards compatibility with existing devices and cables, operating at the lowest common denominator when mixed with older hardware. HDMI 2.2 introduces a Latency Indication Protocol to improve audio-video synchronization in complex home theater setups.
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