Zombie Debt Reassignment Boosts Synthetic Identities
Zombie tradelines. ? Every heard of em? I didn’t until a few months ago. Synthetic Identity is an endless cat-and-mouse game. Just as banks ? catch on to one scheme and react, a new loophole in the system is identified by the mouse ? and exploited. And there’s a new mouse in a town called […]
Jim Browning Tells You How He Scams Scammers
Scam baiter Jim Browing beats call center scammers at their own game. He can hack their computer systems and watch their every move as they try to trick people out of their life savings. The scammers target anyone – and they will drain your money if they get the chance. But if he’s lucky and […]
SSA Employee Invented Fake Kids For Synthetic Identities
The SSA has often been the definitive source for identifying synthetic and real identities. But what happens when an insider at the SSA is accused of creating synthetic identities and stealing dead people’s identities to file benefits claims fraudulently? Well, that’s exactly what happened in the case of Justin Skiff. This week, the DOJ accused […]
Las Vegas Businessman Arrested For BEC Fraud
The DOJ announced the arrest of 4 men who ran a large email compromise scheme that defrauded corporations, banks, lenders, and credit card companies. All told, they are accused of stealing over $9.2 million in their scheme. Surprisingly one of the men – Marty Mizrahi – is a successful Las Vegas businessman that started Vegas.com […]
Report – Bot-Driven Account Fraud Is Soaring
A recent report by Kasada reveals that 69% of companies lose 6% or more of their revenue each year through bot-driven account fraud. Those companies that are losing money to account fraud spend an average of $500,000 a year trying to stop those bots, often with little success as those Bots, patterns are shape-shifting constantly. […]
Discover Stops Applications On New Product Due To Fraud
Discover has stopped accepting applications for their new product – A Cashback Debit Account, because of high levels of fraud. CEO Roger Hochschild said Tuesday during an appearance at the Goldman Sachs financial services conference that Discover had “pulled back on the marketing because of the amount of fraud we were seeing”. The product, which […]
Former Police Officer Exposes Shocking New Gift Card Scam
Nichelle Laus, a fitness influencer, business owner, and former police officer, knows how to spot a scam. Yesterday, this video went viral, exposing a gift card scam that is likely to fool just about anyone. Scammers are placing new barcodes on Gift Cards so that when you check out at the grocery store the funds […]
Fraud Bots Helped Truist Save Millions In Fraud Claims
Bots are being enlisted to help banks fight fraud. And it appears that they just might be a fraud-fighters best friend. Truist Bank is one of those companies that is achieving massive success with the use of bots to help them automate fraud claims. At CNBC’s Technology Executive Council Summit, Jarel Hawkins, senior vice president […]
Report -Womply and Blue Acorn Enabled Rampant Fraud
The report is in. And two Fintechs are being accused of facilitating billions in PPP fraud and enriching themselves in the process. Womply and Blue Acorn top executives are being accused of flouting the PPP rules and improperly collecting loans for themselves in the process. The report, titled “We’re Not The Fraud Police – How […]
Fake ID Theft Reports Could Number In The Millions
A recent Wall Street Journal Article is shining a light on the massive problem of credit washing and fake identity theft claims. According to the article, “Credit washing has slowed down the process of getting loans at some banks while lenders look for other ways to evaluate potential borrowers, and it’s eroding the confidence banks […]
Report – Banks To Start Refunding Some Zelle Victims
The New York Times reports that Zelle and the seven banks that own the payments network Zelle are preparing a major rule change early next year that will require the network’s member banks to compensate customers who fall victim to certain kinds of scams, according to two people familiar with the plans. This is a […]
Ai Wrote This Blog Post About Fraud For Me
Jasper Ai wrote this article. Jasper is an AI Content Platform that claims to promises to help you create amazing, original content 10X faster. It uses synthetic intelligence to create blog posts for content creators. Sounds like it could eventually replace humans, maybe? I decided to test it, so I asked Jasper to write me […]
He Ran A Million Dollar Fraud Shopping Network From Jail
Miami’s Danny Faries is one of the most notorious and inventive fraudsters in history. For four years, while in jail on a murder charge, Faries ran a massive credit card scam without leaving his 6 x 8-foot cell. It was called “The Jailhouse Shopping Network.“ This fraud stretches way back to the earliest days of […]
Romance Scam Turns Dark – Killed For Her Organs
Romance scams can turn dark, particularly when it leads to something far worse – human organ trafficking. 51-year-old Blanca Arellano told her family that she would be taking a trip to Lima, Peru, where she planned on meeting a man she met online- Juan Pablo Jesus Villafuerte. She was very much in love and wanted […]
OTP Bot Service Shut Down In Massive UK Investigation
A major counterattack against OTP Bots was initiated yesterday by police who shut down one of the biggest players in the industry. OTP Bots, designed to automate the theft of one-time passcodes from unsuspecting bank customers, emerged about 18 months ago. The bots were immediately popular because they enabled scammers to spoof bank phone numbers, […]
The Flip Side Of Fraud -Fake Sales & Dark Patterns
It’s almost Black Friday. You know what that means. Big Sale! You know when you walk into your favorite store and see that sign, your heart starts to beat a little faster. Or maybe you go online and see your favorite retailer offering big discounts. You get a little bit more excited because you […]
Emily, The Criminal. Heart-Stopping Card Fraud Thriller
Credit card fraud as you’ve never seen it before in this newly released heart-pounding thriller about Emily. Actress Aubrey Plaza plays Emily. She is saddled with student debt and locked out of the job market due to a minor criminal record. Desperate for income, she takes a gig as a “dummy shopper,” buying goods with […]
Over 2,000 Ghost Employees Vanish In South Africa
An investigation into the salaries of railway workers in South Africa has resulted in some shocking findings. Investigators determined that 2,134 employees on the payroll were ghosts. They do not exist, and the millions in salaries they were paid appear to be a “scam” according to the head of the agency that investigated the matter. […]
ID.me Responds To Claims It Inflated COVID Fraud Losses
ID.me is being raked over the coals by the House Committee on Oversight and Reform for reportedly inflating stimulus-related fraud losses by hundreds of billions of dollars. ID.me said $414 billion was lost (about 50% of total benefits paid out), while the Department of Labor estimated the real figure was 10 times less, at $45.7 […]
Are Professional Refunders Tapping Insiders At Walmart?
Attention Walmart, you might have an issue with insider fraud. And Amazon, you might want to look too. According to a professional refunding tipster and research on Telegram, there is evidence that major retailers may be getting hit by employees that are in cahoots with professional refunding fraudsters. Twist And Turns In Professional Refunding Over […]
Captain Analysis Paralysis Just Killed Your Fraud Project
Many companies out there have project killers and dream destroyers. I like to call that person – Captain Analysis Paralysis. ??✈️ He (or she) is that one person that can stall out even the most promising fraud project with 5 simple words – “Can we do more analysis?” The Heavens Open Up When They Speak […]