4 Ways Fraudsters Shifted Their Takeover Patterns
Fraud is ever changing. Fraudsters are continually evolving their craft to bypass bank fraud controls. As banks deploy AI and Machine Learning, fraudsters are employing their own machine learning to identify new and better ways to skirt controls. And nowhere are patterns changing faster than in online account takeover. A new study released this month […]
950 Accounts Impacted in $2.4 Million Bust Out Scheme
A San Bernardino County man faces federal criminal charges that he masterminded a bank account “bust-out” scheme that defrauded Wells Fargo out of $2.4 million and compromised more than 950 of its accounts. Steven Michael Banks Hubbard Jr., a.k.a. “Marcus” and “Man,” 36, of Rialto, was charged in an 11-count federal grand jury indictment returned […]