Aite Report – ID Theft Down But Not Out in 2021
Aite announced a new Impact Report commissioned by GIACT, a Refinitiv company, that details the impact of identity theft here in the US. The new report shows that while Identity Theft impacts 1 in 4 consumers, it actually decreased throughout last year as the pandemic began to subside. In 2021, the overall identity theft rate […]
Report – Auto Fraud Soars to New Record Losses
New reports are in showing auto fraud is at all-time high and some dealerships are reporting that 1 in every 3 financing deals that they receive are fraud. News station WCNC reported on the rise in auto loan fraud and cited the pandemic activation of fraudsters as leading to an increase in the loss rates […]
Is SSNValidator (The Site Fraudsters Use) Shut Down?
Sad news for CPN fraudsters today. SSN Validator, the site that all synthetic identity fraudsters love appears to be restricting access. So it’s not technically shut down, but for those chronic CPN creators it’s essentially not going to be an option anymore. SSN Validator Was Used By CPN Creators To Identity Non Issued SSN’s SSN […]
A Wave of Zelle Class Action Lawsuits Hitting Banks
A new wave of class action lawsuits is threatening to fundamentally change the way banks reimburse victims for scams. Wells Fargo, Capital One, Bank of America, Navy Fed, and TD Bank have all been hit with class-action lawsuits in the past 30 days. The lawsuits stem from customers that complain that the Zelle service is […]
Mythbusters Explains How Card Issuers Nixed Episode
Do card issuers have powerful control over the media when it comes to exposing security flaws? One trending video indicates that they might. Discovery Channel’s Mythbusters team regularly exposes flaws and myths using science and testing. One area that they tried to expose flaws was in the area of RFID but according to the Savage […]
Auto Fraud – The Story of A Would Be Straw Man
In the summer of 2013, I was an unemployed ex-con twice over, living next door to my mother-in-law in a house with no floors. Being June in Georgia, it was hotter than two hamsters farting in a wool sock. Work was rare. Even my dog looked disappointed in me. Something had to happen. Soon. So […]
Rise in Fraud Leads To “Open Season” On Mail Carriers
Fraud leads to violent crime, and that violent crime, in turn, leads to more fraud. And, that’s exactly what we are seeing with check fraud. Check fraud is soaring. Some banks report a more than 100% increase this year over last. But the recent rise in check fraud is fueling other crimes that pose a […]
Houston Teen Charged In Big Auto Loan Fraud Case
A 17-year-old Houston teen is accused of running an elaborate $600,000 scheme in which he illegally sold Teslas, Corvettes, and an Escalade. KHOU Houston broke the exclusive story which was investigated by Sgt Darren Schloesser of the HPD Auto Theft Unit. A local family said they were looking for a car and found a Tesla […]
Fax Fraud? California stopped a $560 Million Fraud Scam
California’s EDD agency claims to have identified and stopped a scheme involving over 47,000 suspicious unemployment claims early in May that would have resulted in over $560 million in losses. But get this, fraudsters used faxed claims and mailed in claims to try to bypass fraud controls. The fax scam was first identified about a […]
How a Bad Suit Led to My First Job in Fraud
Thank God for bad suits. Sometimes they can lead to really incredible things. Well, that’s how I look at it anyway. This is a story of how a bad suit led to a bad job interview which caused me to get rejected for a job that eventually helped me realize my dream. – A job […]
Biometrics Takes Leap Forward With Amazon One
If you forgot your wallet at home and want to pick up a quart of milk at Whole Foods you can now pay with your hand. That’s right, Amazon has just launched an innovative new service called Amazon One that lets you pay for anything in participating merchants with just the palm of your hand. […]
Get A Glimpse Inside WestPac’s Fraud Department
This is a cool little video that was featured on 9News in Australia. In this video, you get to see how WestPac’s fraud team protects its customers from fraud. Check it out these fraud fighters in action!
TransUnion-Canadians Kick The Fraudsters Out of Canada
Is fraud going down in Canada? According to TransUnion it is. And it’s because Canadian companies are implementing more fraud tech. According to TU, the rate of digital fraud originating from Canada decreased last quarter, with suspected online fraud attempts declining -40.6% from the same quarter last year. This is far better than the global […]
13 Things Only OldTime Fraud Managers Can Appreciate
Cigarettes, gun slinging and messing around with fax machines – such was the life of a fraud professional back in the good old days. And by good old days, I’m talking about the ’90s. Not the 1890’s – the 1990’s – many years ago. All you young hip fraud managers have no idea how good […]
The Website All Synthetic Identity Fraudsters Use
I stumbled across a website that is used by anyone trying to build a synthetic identity. That’s right. And, it’s not on the dark web. It doesn’t require some special browser or password and is available to anyone – including you. Scores of tutorials on “How to Make your Own CPN” can be purchased and […]
Check Fraud Now Fueling More Violent Postal Crimes
Postal workers are increasingly becoming the targets of violent crime; – robbed at gunpoint for their postal keys. An alarming rash of robberies occurring in hot spots like Georgia, Washington DC, Texas, and other states has postal employees in those areas on high alert. Their USPS keys which can unlock those blue postal boxes are […]
FTC Says It’s Game Over For The Credit Game
They have close to 500,000 subscribers on their popular YouTube channel and are one of the most popular credit repair companies in the US. They claim to have generated over $15 million in revenue from their services. But, The Credit Game is accused of illegally charging consumers for credit advice, filing false ID Theft Reports […]
Property Deed Fraud Is On The Rise as Values Soar
Property values nationwide are soaring and that has con-artist, thieves and scammers licking their chops trying to cash in. And many of those thieves are resorting to property deed fraud to steal properties right from under an owners nose. The scam is quite simple. A fraudster steals your identity, then forges your name on a […]
Want to Stop More Fraud? Look at Your Defaults.
Are you looking to stop more fraud in your company? If you are, than you might not need to look any further than your credit losses to find the real opportunity. Based on industry studies there are mountains of fraud losses sitting in credit loss buckets at financial companies. It’s not million of dollars. It’s […]
Don’t Ever Let Them Take Your Fraud Fighting Spirit
You were born to do this. You live for it. You’re a fraud fighter and you always have been. Whether you’re an investigator, fraud analyst, fraud manager, or fraud technology creator you love your job. You bounce up out of bed in the morning ready to make a difference; ready to stop some bad guys […]
Fraud Staff Behaves Badly, Then Gets Fired By ID.me
An interesting report released by Yahoo News, revealed that ID.me fired 39 employees over the past week for inappropriate communications. That represents about 50% of their fraud team. Fraud Analyst Behaving Badly When questioned, ID.me said that some customer support staff were separated from the company “for inappropriate internal communications” that showed disrespect for colleagues […]