Six Times Check Fraud Has Taken Toll On Banks Earnings
Check fraud. It seems like it will never go away. And every year another bank seems to get hit with an outbreak that they are forced to publicly disclose. It’s rare that fraud ever makes its way into banks annual and quarterly filings, but when it does it’s always check fraud. Checks are seriously more […]
Scam Bosses Complain – “Our Profits Are Falling”
An article posted on Telegram’s Southeast Asia Wanted Notice channel starts with two simple questions – “Are all the scammers losing money this year? Are the good times over”. As scam bosses face an influx of new copycat scam centers in Cambodia, competition is heating up and there is less scam money to divide. To […]
FTC : Auto Loan Fraud Is Spiking To Record Pace In 2025
Americans are on pace to file close to 90,000 complaints for fraudulent auto loans to the FTC this year. That will shatter previous records. According to CBS News, the FTC received 21,400 auto fraud complaints in just the first quarter of 2025, representing a 43% increase from 2024 levels when consumers filed more than 60,000 […]
Deepface Live’s Perfect Deepfakes Captures Heartbeats
AI deepfakes are getting so good at capturing all the details, and I mean everything. A new study from German researchers challenges what many experts have believed will be the key to detecting deepfakes – heart detection. They claim that high-quality deepfakes can now replicate human heartbeat signals, making a critical detection method virtually useless. […]
Credit Washing Fraud Uses Fake Human Trafficking Claims
A diabolical new fraud scheme is sweeping through the shadowy corners of the credit repair industry. Unscrupulous credit repair companies are falsely claiming their clients are human trafficking victims to systematically and fraudulently remove negative items from their credit reports. The scam exploits a protection implemented by the CFPB in 2022 to help actual human […]
No One Believes She Was Victim Of An AI Clone Scam
What happens when you are convinced you were scammed by AI but no one believes you? It’s a phenomenon that is happening with increasing regularity. A Reddit User and mother from Illinois recently fell victim to what she described as an “AI phone scam” , losing thousands of dollars and suffering severe emotional trauma. She […]
Inside The $8 Million Deepfake AI Extortion Scheme
Vietnamese business executives received horrifying messages on their phones – deepfake images of themselves and a demand that they immediately pay $80,000 in crypto to avoid those photos from being released. Over 1,000 business executives were targeted, and over $8,000,000 was collected by the scammers. Perhaps most alarming is that the scheme appears to be […]
This Dealership Never Existed – AI Made It All Look So Real
The gleaming John Deere tractors on Dalton Tractor and Equipment’s website look pristine, their prices low enough to attract a flurry of buyers looking to score a great deal. Their great deals pop up on google searches when buyers are looking for used tractors and other farming equipment. But the entire operation – from the […]
AI Deepfakes Merged Scammers Faces On Stolen Identities
Hong Kong police have arrested eight people accused of operating a sophisticated scam ring that used AI to bypass banks identity checks to steal millions of dollars. A report out of Hong Kong, reveals that Triad Gangs merged their own facial features on stolen identity cards to create convincing deepfakes that fooled multiple banks. The […]
Frauds New Frontier: Retailers Battle With Tariff Dodging
Americans are being recruited by Chinese merchants to serve as front operations for overseas businesses trying to avoid steep import tariffs. That, and a host of other tariff-dodging schemes are rapidly emerging in the merchant world, according to fraud expert Karisse Hendrick. She uncovered the trend after conversations with dozens of retail executives grappling with […]
The Aftermath: The Chase Glitchers Six Months Later
Ah the Glitches. Remember them? It seems like it was yesterday but it’s been over six months since the Chase “glitch” swept through social media like wildfire, drawing hundreds of people to ATMs across New York City. To many peoples surprise, it wasn’t a glitch, it was just good old fashioned check kiting and Chase […]
Fannie Mae Fires 200 Employees For Alleged Fraud
More than 200 Fannie Mae employees have been fired after an internal investigation detected a widespread charity fraud scheme involving their matching donation program. The fired employees allegedly exploited the agencies matching gift program by accepting kickbacks for their donations. According to reports, the employees made donations to a non profit TANA, which Fannie Mae […]
Man Generates AI Lawyer To Defend Him In Court
Who said old people can’t get creative with AI? A 74 year old man was scolded by a judge for secretly creating an AI Generated Lawyer to fight for him in court. In what certainly will go down in the Internet Hall of Fame this video is both shocking and hilarious all at the same […]
New SSN Death Master File Will Complicate Fraud Checks
Greg Pearre never expected to be escorted out of his office by security guards. But that’s exactly what happened after the senior Social Security Administration exec objected to the plan to place thousands of living immigrants social security numbers on the Death Master File (DMF). The file which contains 94 million records of deceased people […]
Fraud Fight Club: Together We Will Never Be Defeated
It was sixth grade. I was nominated to the schools Spelling Bee even though I was arguably one of the worst spellers in my class. And surprisingly, I was the only boy against nine girls. I guess it was no surprise that the boys in class rooted me on, collectively sighing every time I got […]
HSBC Business Customer Got Deepfaked, Sent Wire
A multinational corporation’s finance director in Singapore just escaped losing US$670,000 after he fell victim to scammer that used a deepfake Zoom call from the CFO to convince him to send a massive wire transfer. The fraud was reported in an article in the Strait Times. The elaborate fraud would have went through had the […]
Forget ChatGPT. Adobe’s AI Tool Is Scammers Favorite
Social Media lit up this week as ChatGPT launched a new image creation tool that flawlessly created fake receipts and manipulated photos to inflict fake damage on cars. But did you know, these AI tools have been used by scammers for at least the last 18 months. Allianz UK reported a 300% increase in AI-related […]
AI Company Promises To Eliminate Fraud Analyst Forever
A bold (and some even say arrogant) announcement from newly launched AI company, Fraudinator.com, claims their solution will eliminate fraud analysts forever, and they go on to say that most existing fraud solutions will obsolete within the next 18 months thanks to them. It’s their AI that will eliminate both. Their patented Quantum AI solution […]
Alarming Flash SMS Scheme Targets Banks Customers
Johns phone beeped and vibrated and an urgent message popped up on his screen. “We’ve found unusual activity on your account, Contact the bank immediately at 1-888-724-3524” The message looked like one of those urgent disaster alerts that appear during emergencies, however it was nothing more than an impersonation scam using Flash SMS – a […]
Auto Fraud Soars to $9.2 Billion Due To First Party Fraud
A report released today from Point Predictive estimates the auto lending industry now faces a historically high $9.2 billion in fraud exposure. This represents a significant jump from the $7.9 billion reported in 2023, despite efforts by lenders to target deceptive practices by dealers, borrowers and unscrupulous credit repair companies. The analysis was conducted across […]
Fake Car Dealer Websites Are Scamming Millions
Tim Smith (not his real name) never imagined strangers would appear at his Kentucky service center demanding vehicles he never sold them. The self-described “old country boy” was shocked when angry customers began showing up to his business claiming that they had sent him thousands of dollars for trucks that they never received. Hundreds of […]