Report – There Are Now Over 1,600 Refund Fraud Companies
If you don’t have the nerve to lie to online merchants about a package you “never received” – don’t worry. Friendly fraud hitmen are standing by to serve you. For a small fee of course. Professional refunders are sprouting up everywhere offering to help you get your money back for orders you placed online, and received. […]
Insiders At Phone Stores Are Behind Sim Swapping
What is an Inny? The first time I noticed it was about a year ago. At the time, an advertisement for fraud services on telegram caught my eye. “T-Mobile Inny available now DM for Sim Swaps”. I had never heard the term “Inny” but based on the telegram post it was obvious what they meant. […]
Chase Letter Provides More Insights On Zelle Scams
A letter dated September 22nd from Michelle Mesack, Head of Government Relations for JP Morgan Chase, to the Senate Banking, Housing, and Urban Affairs Committee provides more interesting facts on Zelle fraud and scams. The letter is interesting because it provides more hard numbers around Zelle fraud and scams yet and gives insight into how a major […]
BidenCash Gives Away 1.2 Million Credit Cards For Free
Bleeping Computer reports that a “dark web carding market named ‘BidenCash’ has released a massive dump of 1,221,551 credit cards to promote their marketplace, allowing anyone to download them for free to conduct financial fraud.” BidenCash is the name of a dark web marketplace for trafficking stolen credit cards, and they are providing the massive […]
$5 Million Check Fraud Ring Ran Mail Theft Operation
This week officials in California announced the arrests of 56 people across Southern California allegedly involved in a long-running mail- and check-fraud scheme that officials say bilked more than 700 victims out of nearly $5 million. The suspects — who operated out of multiple counties across California, including Los Angeles County and San Bernardino County […]
New Report Sheds Light On Banks Zelle Fraud Statistics
Senator Warren’s latest report, Facilitating Fraud: How Consumers Defrauded on Zelle Are Left High and Dry, has some eye-opening new stats on Zelle fraud. The report, which accuses banks of not doing enough to reimburse customers, also claims that fraud on the payment platform is soaring. And now, Warren claims she has the numbers to […]
Massive Title Washing Fraud Ring Busted In PA
Towing shops, used car dealers and fraudsters working in cahoots to defraud consumers and victims of car theft. This week General Josh Shapiro announced criminal charges against 19 individuals and 13 separate businesses for a massive “title washing.” fraud ring that operated across Pennsylvania. The participants in these criminal rings included George Frietto of George’s Garage, Luis Salazar of […]
Senate Report – Fraud and Scams are Up on Zelle
A new report is shedding more light on some of the numbers and losses related to Zelle fraud and scams. Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service Zelle, according to a report coming out Monday from the office of Sen. Elizabeth Warren, giving the public its first […]
Fishing Fraud Fiasco- A Massive Cheating Scandal
It may be one of the most shocking cases of fish fraud in recent history. All hell broke loose earlier this week when two fishermen were caught stuffing weights and fish filets into their contest-winning catches at a fishing tournament held in Cleveland this week. “We got weights in Fish!, screamed Jason Fisher -the tournament […]
He Stole His Identity, Then Police Found Dead Roommate
Talk about getting a free ride and not paying your rent. According to the Butte County District Attorney’s office, David Pirtle, a 57-year-old Chico man, was charged with 51 counts of fraud last Wednesday for allegedly stealing the identity and money from his roommate. The twist in the case was that his roommate had died […]
Bank CEO’s Say Zelle Fraud Is Low – Is That Really True?
Fraud has always been a bit of a political livewire ?⚡?? . How many fraud fighters out there are afraid to use the “F” word in conversations with senior execs and instead opt to use milder terms that won’t rile people up ✋? We’ve all been there at one point or another. I can’t tell […]
I Talked To Masked Fraud Fighter – Infamous Ghost
My favorite Youtube channel is run by incognito fraud fighter Infamous Ghost Money. If you haven’t seen his reporting, you should. He wears a mask, prefers not to release his true identity, and gets down to the nitty-gritty of fraud cases. And if you love fighting fraud like me, you’ll find it an absolute go-to […]
Billions in Fraud Went To Dead People and Prisoners
The OIG, issued a shocking report that revealed that potentially billions in unemployment claims were paid out to dead people and prisoners since March of 2020. The damning report issued by the inspector general accuses the DOL of slow rolling data and impeding the progress of getting better fraud controls in place. Over 200,000 Dead […]
New Report – Fraud Soaring But Banks Struggle With Tech
A new report released by Featurespace this week sheds light on just how much banking executives are grappling with the growing problem of fraud and all the headaches it’s causing for them. The Featurespace report which polled 200 executives working at large financial institutions reports that 62% of banks are reporting higher levels of fraud […]
Jose Pacheco Can’t Make A Good Fake ID
Today in fraud news – the winner of the worst fake ID in history goes to poor Jose Pacheco. Jose paid good money for a fake id, but he had one little problem – he had his girlfriend join him for the photo. Now, even though this ID Jose made might be fake, his love […]
Fraud Check Washers Hate This Very Ordinary $2 Pen
According to recent reports and fraud experts, check fraud is booming again. In the last 6 months, various new variants of old methods have emerged. In large part, those losses are driven by skyrocketing thefts of checks from the mail, which are then “washed” and cashed or deposited by fraudsters through bank accounts. By all […]
Fraud KingPin Had ID Theft Evidence Against Him Deleted
Nigerian Fraud KingPin James Aliyu was recently arrested at his luxury Sandton home in South Africa. For years law enforcement sources and a Nigerian organized crime insider told a publication TimesLIVE, there was suspicion about how he was seemingly able to evade prosecution in the case for so long including an arrest that was made […]
Like Mother Like Scammer – Friendly Fraud Duo Arrested
It took decades for karma to catch up with Karan and Allysa Geist, but it finally did. For 13 years, they allegedly used over 100 different credit cards to pay for designer clothes and lavish vacations and then disputed those charges as fraudulent. In total, they bilked card companies out of $850,000. Card issuers refer […]
Listen to The Credit Washing Podcast on Fraudology
I had a chance to visit with Karisse Hendrick on her stellar podcast Fraudology and talk about the dirty business of washing and fraud. In particular I am talking about check washing – which has orbited to the stratosphere the last year and credit washing – which continues a steady climb upward since 2019. For […]
How Sales Pressure Can Cause Spikes in Auto Fraud
Sales and Fraud are sometimes at odds. Sales people want to sell. Fraud people want to stop fraud. These often don’t go hand in hand. The most motivated buyers are often the fraudsters themselves, so why would you ever want to turn down a sale to anyone. The answer is quite simple actually. PointPredictive analysis […]
Going to Jail. He Used Many Names and Kids’ SSN’s
A Georgia man was sentenced today to 94 months in federal prison for participating in a nationwide fraud ring that used stolen Social Security numbers – including those belonging to children – to create synthetic identities used to open lines of credit, create shell companies, and steal nearly $2 million from financial institutions. Corey Cato, […]