35 Lies People Tell on Auto Loan Applications
Lies, lies, lies. I was talking to someone the other day and they asked me a simple question “What is auto lending fraud? Do people actually lie on their auto loan applications?” It doesn’t seem like something that would actually happen very often right? I mean the person has to go to the car dealership […]
Credit Repair Co Accused of Filing Fake Id Theft Reports
The FTC is cracking back at the growing problem of credit washing and people filing false identity theft claims on their website. Today, they obtained an order halting a credit repair scheme that allegedly bilked consumers out of millions of dollars by falsely claiming they will remove negative information from credit reports, while also filing […]
ShapeShifter Used Countless Identities To Defraud Banks
A con artist who is being described as a shapeshifter stole more than $3.5 million dollars from lenders using countless identities in the process. According to the Justice Department, Joseph Albert Corey was a serial fraudster who could just not stop stealing from banks and medical companies even after he was apprehended. He Initially Went […]
Conversations With Fred – A Cupcake Fraudster
I got an interesting text out of the blue from a fella named Fred. Fred wanted a cupcake. How he got my number or why he thought I sell cupcakes, I will never know but it became clear in the end what he really wanted. Be careful out there folks. The cupcake fraudster is still […]
Landmark Study in Auto Lending Fraud – It’s Up 260%
Point Predictive released its 2022 Auto Fraud Trends Report, which details record-high levels of attempted vehicle loan fraud in 2021, a trend that Point Predictive believes will continue to increase throughout 2022. “The pandemic laid the groundwork for rising fraud risk in 2021 as fraudsters learned to use falsified information and identities to benefit from […]
Should Card Fraud Systems Be Used To Detect Terrorism?
In 1995, I had my first experience with fraud and terrorism. I was working for First Deposit Bank as a fraud investigator and the FBI began to call us about one of our customers – Terry Nichols. They were calling all his credit card companies to determine what charges he had recently been making. They […]
New Report – These Are The Fastest Growing Fraud Types
TransUnion has released their latest global report on annual digital fraud trends and by all accounts fraud is way up. The report which you can download here – TransUnion’s 2022 Global Digital Fraud Trends report, indicates that shipping fraud is the fastest growing fraud type globally. Shipping fraud was up 800% in 2021, and a […]
Car Salesman Pulls Elaborate Fraud Scam On 30 People
Ricardo Perez, a former car salesman at Dick Scott Jeep, Ram, Dodge, Chrysler in Michigan got fired for fraud by the dealership in 2021. He had worked there for 7 years before he was terminated. But rather than looking for a new job as a car salesman somewhere else he stuck to his life of […]
Massive Instagram “Cash For Checks” Fraud Ring Busted
This week, Pennsylvania Police uncovered a massive fraud ring that was stealing checks, gift cards, and cash out of mailboxes. The report, which appeared in Pennlive, details a case involving over 39 police jurisdictions (some out of state), and possibly up to 90 suspects. The fraud ring is just one of many rings across the […]
Fake PayStubs Are Tripping Up Income Verifications
Everyone wants to pretend they are rich when they are applying for a loan from a bank or lender. And that leads to lots of lies about income on applications for credit. 1 in 5 applications for a loan contains material falsified claims of income. Liar Loans are making a big comeback in our frothy […]
The 11 Types of Fraud Analyst You Meet
In my travels, I have met with thousands of fraud analysts across the world. I can honestly say, they are some of the most interesting people that I have ever met. Do you work in a fraud department? What do you think of some of the personality types and characters you meet at work? Well, […]
Fraud is the “New Dope” For Street Gangs Across The US
Forbes reports that street gangs are turning from drug sales to a far more lucrative crime to make money – fraud. Instead of selling drugs on street corners, gang members are costing Americans millions by using personal data stolen by Russian cybercriminals to maintain fancy lifestyles. Street gangs were “fraud-activated” during the pandemic by trillions […]
FBI – BEC Attacks Taking Place In Virtual Meetings
Today, the FBI reported that between 2019 through 2021, the FBI IC3 has received an increase of BEC complaints involving the use of virtual meeting platforms like Zoom and GotoMeeting to instruct victims to send unauthorized transfers of funds to fraudulent accounts. How The Attacks Work Criminals began using virtual meeting platforms to conduct more […]
Check Fraud Is Booming Again In A Post-Pandemic US
It’s baaack! Well, it never went away. And it probably never will. The end of the pandemic and all those stimulus programs are creating new wrinkles in check fraud as fraudsters return to targeting bank accounts. As is the case with most fraud schemes, new check fraud is just like old check fraud – but […]
The Fall Of The Worlds Flashiest Scammer
If you haven’t heard about Hushpuppi, now is your chance to watch the story of one of the most notorious Nigerian fraudsters of all time. Thanks to Ronnie BEC Tokazowski for posting this story which appears on Youtube
Big Tech May Soon Be Forced To Help Scam Victims
Scams are a hot topic in the UK. And for good reason. People are losing over £4 million pounds a day. That’s an increase of over 71% over last year. And now lawmakers want to hold big tech responsible for at least some of those losses. Reuters reports that big tech companies whose online platforms […]
Interview Fraud. The Dude Was A Straight Up Imposter!
A pretty wild story was posted on Reddit recently under the title “The new hire who showed up is not the same person we interviewed”. The post was submitted by the wife an IT worker in a midsized company. In the post, she goes on to detail a pretty obvious case of Interview Fraud where […]
Trafficked To Scam As CyberSlaves in Cambodia
Young women from Africa and Asia are being lured to Cambodia from social media advertisements with the promises of well-paying jobs. Instead, when they arrive they find themselves held against their will and forced to carry out online scams to generate money for their captors. They have become pawns in what is being called “CyberSlavery” […]
The Disability Fraud Rate in Cali Is An Astounding 98%
Two weeks ago California announced that they had frozen 345,000 disability fraud claims submitted by 21,000 doctors after a rash of suspected fraud. According to KCRA, “state officials say organized criminals are stealing doctors’ credentials to file fake disability claims. The state is using a computer program to verify the identity of these doctors to find […]
The Many Jobs and Wigs of Eric Jaklitchs Fraud Scheme
He said he was a zookeeper, an aqua fitness instructor, a chauffeur, a bank teller, a director of a zoo, a funeral car driver, a real estate appraiser, and an ATM technician. But in reality, he was none of these. He was just a guy living in New York running a massive identity and synthetic […]
Notorious Nigerian BEC Fraud Gang Busted
One of the largest Nigerian cybercrime gangs known as SilverTerrier was busted by Interpol and 11 key individuals were arrested. The arrests took place last year, between December 13 and December 22, as part of Operation Falcon II. The gang is accused of targeting over 50,000 individuals and businesses using Business Email Compromise (BEC) scams. […]