Will This Miracle Blanket Pay off Your Mortgage?
Convicted fraudster, Jim Bakker, is selling a new “Miracle Blanket” that will pay off your mortgage for you. Just put your bill underneath the blanket at night and watch your mortgage and other bills vanish. And, it better do just that because this blanket will set you back $1,000. What do you make of this? […]
The Most Common Fraud Scams, Scamsters Do
There are lots of ways to get ripped off out there. And now more than ever, it’s important to be vigilant of all the clever ways fraudsters can steal your money. I have been scammed a dozen times in my life (probably more) and that is because I was confused at the time and wanted […]
US Is Granting States $240M To Fight Fraud
Good news for fraud fighters, and bad news for fraudsters. But is the investment too little, too late? The US is fed up with unemployment fraudsters and acknowledging that states need more money to fight back. This week, the Department of Labor (DOL), launched a program to offer $240 million in grants to states to […]
10 Techs Supercharging Auto Loan Fraud Prevention
The future is here. And it’s digital. We are in the middle of a digital transformation – and it’s all being driven by the demand for speed and convenience. Faster decisions, faster funding. And fast money as we know all too well can always leads to fast fraud if you’re not careful. But the good […]
White Lies – The $29 Billion Auto Fraud That Impacts You
Little white lies. No one ever gets hurt by little white lies. Well, don’t tell that to the insurance companies that are losing big money when consumers lie or omit information on the insurance policies. Verisk Analytics, a company that specializes in property/insurance risk, concluded companies are losing $29 Billion a year in lost premiums because consumers […]
The Evolution of Scams – A Conversation with Mpower
I had a chance to speak to Ben Wallach, a seasoned fraud executive who has made it his mission to help the next generation of fraud fighters establish and build their careers in the fraud and cybersecurity industry. He started a website called Mpower. The mission of Mpower Your Career is to assist the globe […]
Talking Fraud ROI With Karisse Hendrix
I recently had the chance to visit Karisse Hendrix on her Fraudology Podcast – the best podcast on fraud on the planet. We had a great conversation talking about the struggles fraud executives have creating and selling and ROI internally to their organizations. For those of you that don’t know Karisse, she has worked with […]
Charitable Stealing – Why Fraudsters Target Charities
Why would fraudsters spend hundreds of millions a year donating to charities? Fraudsters are the business of stealing money, not giving it away. But they do. On the face of it, they appear to be very generous. Every year, stolen credit card numbers, checks and even bank routing numbers are used to make hundreds of […]
How HushPuppi Got Caught – It Started With A Post
This is a great video that shows behind the scene footage of one of the world’s biggest scammers while it tells the story of his arrest. His whole life unraveled when he posted his birthday on Instagram and the FBI was able to determine his real identity.
Auto Loan Fraud is Up Big in Houston
Houston Police Department is reporting a spike in vehicle fraud cases in Houston. Sgt Darren Schloesser, head of the fraud unit says that’s because the crime is so lucrative.
Is Your Boss Being Too Cheap on The Fraud Tools? Read This
I have run across so many embattled fraud managers that have tried to get a fraud tool or technology that they needed only to fail. Most of the time they fail to convince the executives to get the tool because there are higher priorities within the organization, or because they can’t build the ROI for […]
Feds Bust More Nigerians for Unemployment Fraud
Federal agents report that they have broken up an unemployment fraud ring based in Maryland that targeted California and numerous other states with more than $2.6 million in fraudulent claims. A federal criminal complaint obtained by KCRA 3 Investigates said that more than 200 individual unemployment applications were filed with California EDD from one Hyattsville, […]
Don’t Get Hit with ShotGunning Fraud
Don’t cue up the old western music. I’m not talking about actual shotguns here. And I’m not suggesting you buy a gun to protect yourself. What I am talking about is a very specific type of fraud scam that some in the industry like to refer as “Shotgunning or ShotGun Fraud”. Actually it’s not a […]
The Many Many Risk Fraud Managers Must Manage
It used to be so simple. Back in the 80’s, fraud managers jobs were pretty straightforward – make sure that you stop bad checks from being written and occasionally if someone lost their charge card make sure you shut it down quickly before a bad guy found it and tried to buy a Sony Walkman […]
5 Reasons Why Banks Can’t Ignore Scams Any Longer
What is the difference between a fraud and a scam? To consumers, there is no difference. But to banks, it’s a much different story. Fraud is something banks are liable to reimburse customers for. But scams on the other hand, those are losses the customer bears because the customer got conned and gave out their […]