Gone in 60 Seconds – Fraud and Theft on Luxury Cars
Everyone wants a luxury car, but few can afford them. And that is exactly what makes them targets of fraudsters and thieves. Now, getting your hands on a luxury car and making potentially hundreds and thousands of dollars has become increasingly easy thanks to loans and finance programs. And since technology such as Lo Jack […]
It’s Here. The Feds Definition of Synthetic ID Fraud
A focused group of fraud experts has helped the Federal Reserve create a standard definition of the fraud type Synthetic Identity. The idea of creating a standard definition of synthetic identity came from the fact that everyone seems to agree what synthetic identity really is. So, from July 2019 to July 2020, the Fed spoke […]
Real Housewife Scammed Elderly People For Cash
Real Housewives of Salt Lake City star Jennifer Shah has been indicated for fraud of the worst kind – scamming elderly people out of their money. The Department of Justice announced today, that Jennifer Shah and Stuart Smith have been indicted for generating lists of victims for targeting and directing co-conspirators to defraud them. The […]
Justice Department Goes Into Overdrive on COVID Fraud
The Department of Justice has just reported that they are taking historically high level of enforcement actions against COVID fraudsters today. The Department of Justice announced an update today on criminal and civil enforcement efforts to combat COVID-19 related fraud, including schemes targeting the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL) program and […]
SBA Receives 1 Million Referrals For Loan Fraud
The GAO has released another shocking report on the extent of SBA loan fraud and fraud may be even worse than many thought. The OIG received more than 1 million referrals for suspected fraud including identity theft and other schemes against the Paycheck Protection Loan Program. 1 in every 12 SBA and EIDL loans was so […]
Yikes! Identity Theft Soars 300% In 2020 to $56 Billion
Javelin has published their findings for Identity Theft in 2020 and the findings are astounding. Identity theft climbed to over $56 Billion in 2020, driven mostly by the Pandemic and increased identity theft scams against consumers. Traditionally identity theft has averaged $15 billion to $16 billion a year, but this last year, things went bonkers. […]
First Film Ever Of Check Fraudsters Arrest From 1901
It seems fraud goes back to the beginning of time. And check fraud may be one of the oldest types of modern fraud that we still deal with, even today. Well, the world’s first film of a fraudster being arrested from 1901 was released in color recently. The film which is a reconstruction and which […]
A Message To Fraud Fighters Wherever You Are
I originally recorded this video for a group of fraud fighters that worked internationally, but I wanted to share this message to you all and my insights into fraud and the important work you all do.
YouTuber Glitter Bombs A Scammer. We All Cheer!
Mark Rober has made a name for himself, famously glitter bombing porch pirates in the past. This time though, he turns the tables on a phone scammer, climbs the slimy chain of command and glitter bombs an actual scammer. Buckle up and watch this great video
FBI Fraud Report Is Here And Fraud is Surging In US
The FBI Released their annual report on fraud, and as we all expected the numbers showed a surge in reported fraud and scams for 2020. The FBI received a record number of complaints from the American public in 2020: 791,790, with reported losses exceeding $4.1 billion. That’s a 69% increase over 2019, and a doubling […]
ID.me Stops $1 Billion Weekly in Unemployment Fraud
This ID company called ID.me has advised the public that they are blocking about $1 Billion in fraudulent unemployment claims each week with their technology. According to news sources in Florida, the problem of unemployment fraud is escalating and the state, like many others have turned to ID.me to help curtail the problem. The scope […]
Dog Lands His Owner in Jail for COVID Fraud Scheme
Elvin German is a dog lover, but his dog has now landed the guy in jail. The US Dept of Justice announced today, that he was arrested for wire fraud and aggravated identity theft in connection with a COVID-19 unemployment benefit scheme that resulted in the loss of more than $1.4 million from the New […]
US Fraud Company Reaches Unicorn Status
Ring the bell, a fraud company started here in the US has reached Unicorn status. And this time, it’s investors putting another vote of confidence in the rising digital identity trust market. Socure, the leader in 100% digital identity trust, today announced a $100 million Series D round of funding led by Accel. This round brings […]
Call Center Reps Took ScreenShots In Fraud Scheme
A Camden County man and a Bronx, New York, man were charged for their participation in a scheme to steal bank customer identities and then use that information to steal more than $600,000, Acting U.S. Attorney Rachael A. Honig announced in a press release. Jamere Hill-Birdsong, 32, of Gloucester City, New Jersey, and Lamar Melhado, […]
AMEX Fraud Modelers Had A Tough 2020 With COVID
Here is a recommended reading tip for you. Emerging Tech Brew posted a fantastic article which provides a behind the scenes look at the American Express Credit Card Fraud Modeling Team as they grappled with COVID and the rapid changes in fraud patterns on the portfolio. As one of the humans behind American Express’s fraud […]
Gift Card Fraud Is Lucrative And Growing During Corona
I finished checking out my basket at the local grocery store last week and there was something taped next to the cash register that caught my eye. It was this warning from the FTC. This same warning is appearing at tens and thousands of grocery stores, Walmarts, Targets, and home improvement stores across the nation […]
Guess What? You Can Auto Decline A Loan For Fraud
I’m not normally one that likes to read legal articles, but I read a pretty good one this weekend. And it came from Sentilink. In this recent article, James Cook, with Sentilink tackled an issue that many lenders grapple with – can you auto decline an applicant based purely off suspected fraud – identity fraud […]
Download the Fraudsters Dictionary
When you peruse the dark web and forums like Telegram, you quickly learn that fraudsters and scammers have their own language. It can be confusing to say the least. Well one company – Nethone – has spent months researching and assembling the language of fraudsters in a book they call the “Fraudsters Dictionary” The Fraudsters […]
States Fail To Collaborate on Unemployment Fraud
In the fight against Unemployment Fraud, individual states are losing the battle. In an article in AP News, the Labor Department now believes that $63 Billion or more has been lost to fraudulent unemployment claims – a staggering number that exceeds most experts’ highest estimates. The wave of unemployment fraud has been reported by over […]
Fraud Doomsday & How The Fraud Analyst Could Save Us
Check this out. The Fraud Technology Podcast asked me to join them for a discussion on a potential Fraud Doomsday Scenario and to get my thoughts on how Fraud Analyst and Fraud Managers could save us from it. The Fraud Technology Podcast was created by two counter-fraud technology leaders, Will Megson and Matt Vega. Matt […]
These 10 Phishing Emails Fooled The Most People
If you get any email with these in the subject line – beware! These are the top 10 phishing emails that fooled the most people last year. Emails that contain this subject lines are more likely top result in clicks than any other subjects. #1 Phishing Email – “Subject: A Delivery Attempt Was Made” 21% […]