10 Ways To Increase Your Fraud Management Magic
Fraud Managers are quite often the only ones standing between an army of fraudsters at the gates and the crown jewels of their company. It’s an important job to keep your companies money safe from scammers, fraudsters, and thieves. And that’s why they need to be on their toes and constantly perfect their craft. So how […]
Lexis and ID.me Square Up In Unemployment Fraud Battle
Watching fraud vendors go to war with each other can be interesting. Fraud prevention firms Lexis Nexis and ID.me are squaring up in a battle to get states to invest in their aging unemployment benefit systems. And CEOs, Haywood Talcove of Lexis and Blake Hall of Id.me are not pulling punches when it comes to […]
Will You Fall for A Scam? 4 Things Can Predict It.
In 2017, the FINRA Investor Education Foundation (FINRA Foundation) joined with the Better Business Bureau (BBB) Institute for Marketplace to launch a two-year study of how people react to attempted financial scams. After 2 years of exhaustive research and interviews, researchers concluded that 4 factors played a major role in why victims become victims. The […]
Criminals Increasingly Turn Fraud Into a Violent Crime
In an article published recently by The Sun, armed criminal thugs are stopping victims in the street and forcing them to turn over their online banking credentials so they can commit fraud. Once the criminals gain access to the victim’s account, they quickly siphon and drain the funds, depositing them into “mule”. As fraud and […]
Fraud Magnets Will Make You Drown In Fraud
Have you heard the term “Fraud Magnet“? A fraud magnet has such incredibly weak fraud controls that it creates a strong pulling force attracting any fraudster looking for the fastest easiest way to steal money. A fraud magnet can be a product – like a new mobile payment service. A fraud magnet can be a […]
To Stop Rise in Scams, UK Bank Wants to Slow Down
Fraudsters in the UK are stealing record amounts of cash from customers. According to UK Finance, the organization that tracks Authorized Push Payment (APP) fraud, scammers are stealing £4 million each and every day from bank customers in the UK. To curb the massive and rising fraud, one bank – Nationwide- wants to slow down […]
5 Ways Dealers Can Scam Both Car Buyers and Lenders
Tom Richardson had bad credit. His credit score dropped to less than 600 last year when he had a workplace accident and he had to go on disability. With the crippling debt of the hospital bills mounting, and the $75,000 in student loan debt he had to pay back there was no way he could […]
Nationwide Hunt for $1,000 Credit Card Fraudster?
A federal arrest warrant was issued this afternoon for Brian Laundrie for fraudulent use of a Capital One Debit Card. The arrest warrant which was issued by the FBI shows unauthorized charges worth more than $1,000 were made during the time his girlfriend was missing. Laundrie who has been labeled a “person of interest” in […]
The Activation of Hundreds of Thousands of Fraudsters
Joey Pizzoloto of Auto Finance interviewed me about the impact of unemployment fraud on Auto Finance. You can read the original article here – Unemployment Fraud Activates Hundreds and Thousands of Fraudsters Article by Joey Pizzoloto of Auto Finance News The same economic stimulus that kept consumers current on their auto payments is giving rise […]
SAR Filings Prove Fraud Continues To Hit Records
FinCEN updated their annual SAR filings this week and it is becoming increasingly clear that fraud is continuing to grow at a record pace. The data which includes SAR filings for fraud at depository institutions, finance companies, and mortgage lenders through the first 9 months of 2021, indicates that close to 4 million reports will […]
10 Ways to Enlist an Army To Help You Fight Fraud
Cheats, scammers, and liars. Fraudsters are all of those things. And they are defrauding consumers at record levels. 2021 is going to be a record year for fraud – particularly against consumers. Thanks to epically horrible data breaches, heightened fraud perpetrated by scammers during the pandemic and high rates of identity theft – no […]
Billions of Tax Dollars Wasted in Australia
It appears PPP Fraud related to COVID wasn’t a problem unique to the US and the UK. Australia also has some controversy surrounding how the funds were disbursed to businesses. 60 Minutes Australia released coverage this weekend on what termed “Billions of Tax Dollars Wasted in Australia”. It was a massive cash grab from their […]
How The Biggest Banks Get Away With Fraud
This is an interesting video created by ColdFusion, an Australian-based online media company independently run by Dagogo Altraide. The video tackles the problem of bank fraud at major banks and illustrates the point by focusing on Wells Fargo’s Fake Account scandal involving over 3.5 million accounts. The video also includes an appearance by Rob Bezdjian, […]
Car Hacking Is Here Now, And It’s A Real Threat To You
Hackers can get into anything these days – even the car sitting in your driveway. A new cybersecurity report from Upstream Security highlights the growing problem of car hacking in their annual report. And they’re warning you to be prepared for increased threats. A lot more. According to the tech firm based in Israel, there […]
Why Is Straw Borrower Fraud So Dangerous?
To a crow, a straw man in a corn field might look like a real man. It has a head, arms, a body and even legs. But inside it is just full of straw. It has all the parts of a man but it isn’t real at all. It’s there to look like […]