He Tried To Cash A $368 Billion Fraudulent Check
Let’s go back in the Internet Gold Hall of Fame momentarily and remember a Florida Man who tried to cash a fraudulent check. Not just any check, but a check made out for 368 Billion Dollars. A Strange Story Based On A Strange Story In May 2015, Jeff Waters walked into a bank in Jacksonville, […]
Another Unemployment Fraud Wave Hits Several States
Multiple states appear to be getting pounded by unemployment fraud claims. At least two states (Ohio and Connecticut) , and possibly a third (Colorado) have reported a flood of new fraudulent claims. What is this, Wave #5 of Covid Fraud? Connecticut – 75% of Unemployment Applications Are Fraud The state Department of Labor in Connecticut […]
It’s Eerily Quiet On The FedNow Fraud Front
The much anticipated FedNow Program launched on July 20th. It’s offering the instant, round-the-clock ability to issue a paycheck or pay an invoice. Heck, many think you’ll even get your paycheck faster with the service. But many fraud experts have been holding their breath, expecting that the tried and true postulate – Fast Money = […]
T Mobile Employee Arrested For Sim Swap Fraud
T-Mobile. If you are listening, You might have an insider fraud problem. Fraudsters are advertising all over the dark web and Telegram, and just this last week, an employee in New Orleans was arrested for a massive case of Sim Swap Fraud. She Sim Swapped 32 Different Phones Tamber Blackmore was arrested last week for […]
Dark Tower Exposes Pig Butchering Recruiting Sites
Trionix Multitech, “a crypto currency company” is looking for female models to join them in exotic locations. They pay $5,000 a month, and that doesn’t even include room and board. If a girl accepts a job from one of these sites however, she will join the estimated 100,000 other girls the Los Angeles Times estimates […]
Checking In With My Fraud Compadres on Fraudology
We all have our fraud compadres. You know those people that you could talk for hours with on any topic related to fraud. Well, Karisse Hendrick and Mary Ann Miller are my fraud compadres and each year we come up with our predictions for the following year. For 2023, we made 10 predictions which you […]
Report – Introverted Fraud Depts Are Not Very Happy
Introverts can be very happy and content people. But Fraud Departments that are introverted, well, that is another story. An impressive new report – The Fraud Benchmarking Report 2023, surveyed hundreds of merchant risk executives and found that three key elements of happy fraud departments were noticeably more absent in unhappy ones. The results may […]
Report – eCBSV In Dire Shape, Program Could Collapse
According to the Federal News Network, the SSA’s new eCBSV program is in dire shape. The program, which helps financial institutions crack down on the use of stolen social security numbers on applications for credit could enter a “death spiral” according to experts due to a steep increase in the fees they charge. Some companies […]
Covid Fraud 2.0 -Check Out The New Fraud Money Grab
We’re still bleary-eyed from the hangover of massive pandemic fraud, and here comes COVID Fraud 2.0. The Employee Retention Credit (ERC) – sometimes called the Employee Retention Tax Credit, is a tax credit for businesses that were impacted by COVID shutdowns. But the program is also becoming a big money grab by fraudsters and scammers. […]
Another Startup With Massive Fake Accounts Bites The Dust
Remember 2021 when every startup was seemingly worth a billion dollars? My oh my, how times have changed, and some of those companies were engaged in fraud – first, there was NS8, then Frank the financial aid startup, and now the high-flying messaging app –IRL. The company has been closed. 95% of their users were […]
The Future Is Here – Meet The New Fraud Analyst 2024
The future is here. I see it clearly. And it’s impressively human. AI is great. But it is the fraud analyst – the human in the loop – who will make our future safe. When Apple launched Vision Pro, I saw the future of being a fraud analyst. And it looks very much like a […]
Fraud Royalty – She Was The Queen of Magic Numbers
By now you you’ve likely heard the story of Charlie Javice. She is accused of creating 4 million fake student accounts to inflate the user count of her company Frank, which she then used to sell the company for $175 million on Chase. In reality, she only had about 350,000 customers. Well, interviews with former […]
This Cop Doesn’t Mess Around With Dealer Fraud
Fraudsters are targeting Atlanta area car dealerships using fraudulent identifications, and it’s getting a little out of control. In the last two weeks, two different Youtube videos have emerged from the Chamblee Police department showing fraud in progress at dealerships. Perhaps the most impressive thing about these videos is the police sergeant that shows up […]
FedEx – Is This The Largest Odometer Fraud In History?
This may be the largest odometer fraud case in history. Each year 40 million used cars are sold, and over 450,000 have odometers that were illegally altered. And the impact to consumers is huge – approximately $1 billion a year according to industry estimates. And this year may be its biggest year ever, thanks to […]
Lexis CEO – We Could See $1 Trillion in Ai-Assisted Fraud
Is Ai good or evil? According to experts it might be very, very bad. We are living in perilous times. That is according to LexisNexis CEO Haywood Talcove. He says that if we do not respond in weeks, the US Government could see over $1 Trillion in Ai-Assisted fraud schemes. He points to the dramatic […]