Credit Repair Fraud Ring Busted – Stole 500 Identities
Five people, including a Brooklyn man who ran a credit repair business and a former football player associated with the New York Giants, were arrested in connection to an alleged identity theft ring that attempted to steal more than $1,000,000. The group allegedly stole as many as 500 identities to apply for fraudulent loans — […]
Fraud Scam Targets People With Low Interest Rate Offers
Canadians and Americans are increasingly being targeted by phone scammers promising low-interest rate offers but the calls are often originating from Pakistan and the scammers are just looking for money.
Fraud at Verizon Affects 7,000 Customers Monthly
Verizon is pleading with the FCC to approve new controls that will help them stop the rash of identity theft against their customers. Verizon reports that new subscriber fraud has gotten so out of hand that they need to change regulations to help them stop the spike in losses. In a statement by Ronan Dunne […]
Fraudsters Find Instamules On Social Media
Fraudsters and scammers have found a perfect place to locate people willing to make a quick buck – Instagram. Using Instagram, scammers finding unwitting young people who are lured in by their promise of quick and easy money. Check out this recent report by SkyNews on how Instamules are becoming a real thing.
How Dotted Gmail’s Are Wreaking Online Fraud Havoc
Fraudsters are exploiting a Gmail feature to file for fraudulent unemployment benefits, file fake tax returns, bypass trial periods for online services and commit online fraud according to a new article filed by ZDNet. The scam used by fraudsters exploits the fact that Gmail addresses ignore dots inside the email address itself. For example, if someone […]
Mark Kasak Discusses Synthetic Identity Fraud
Mark Kasak believes that synthetic identity fraud is a growing epidemic across the nation. And he should know, since he has performed hands-on investigations and seen the problem grow throughout the years. Listen to his podcast where he discusses the growing problem of Synthetic Identity Fraud.
Facebook Ignored Friendly Fraud to Boost Revenue
Facebook has always pushed the boundaries of ethics. Even in its earliest days, Mark Zuckerberg was accused of stealing the idea of the company from friends he met in college. Ever since then, the company has struggled to maintain trust with users. An internal company memo from 2011 is putting it on the hot seat […]
Massive Internal Fraud Cost DJI $145 Million
DJI, a popular Chinese manufacturer of drones, has identified over 1 billion yuan (US$145 million) of internal fraud committed by 45 employees. The massive internal fraud was unearthed after an internal probe identified employees were inflating the cost of parts and pocketing the difference for their own gain. This type of fraud, which is often […]
SWAT Team Arrests $3 Million Discover Card Fraudster
20 armed Secret Service and police SWAT team agents stormed a luxury apartment in New Rochelle, New York and arrested the ring leader of a massive $3 million dollar fraud ring. The luxury apartment complex was raided at 10:30 PM and police uncovered a treasure trove of stolen card information that was being used by […]
Fraud Will Rise Again (And 10 Other Predictions for 2019)
2019 has arrived and you know what that means – it’s prediction time again. January is always a good time to look at what might be in store for the coming year so you can plan your strategies. Most of Our Predictions Last Year Were on Target Last year, Global Fraud Fighter Maryann Miller and […]
New Ruling Helps Fraud Victims Get Money Back
Victims of fraud in the UK just won a major victory in their battle against fraudsters and the banks that refuse to refund their money. The Daily News reports that thousands of fraud victims tricked into handing over their life savings could now get their money back following a landmark watchdog ruling. In a major victory […]
Social Security Fraud Scam Goes Nationwide
The IRS scammers are losing steam as most consumers are now aware that those threatening phone calls are originating from India or Pakistan and not from IRS agents located here in the US. But it is being replaced with another insidious scam just as damaging – threatening consumers that their SSN will be suspended immediately […]
Zelle Fraud Scams Drain Consumers’ Bank Accounts
Zelle fraud continues to impact consumers’ bank accounts, often behind the scenes without their knowledge.
Was World’s Oldest Lady A Case of Identity Theft?
Jeanne Calment was the oldest living person in the world until she died in 1997. Or was she? Recently, a Russian mathematician cast doubt on her claim and believes it might have been an imposter. Nikolai Zak, released a report on an investigation where he believes that Jeanne Calment was actually a case of identity […]
4 Behavioral Red Flags of Synthetic Fraud Applications
New account and loan fraud is on the rise across the globe and BioCatch this week believes that is in large part due to synthetic identity fraud, which is rendering static identity proofing useless in the application process. BioCatch has unveiled several red flags that they have uncovered that lenders and banks can use to […]
How Robotic Process Automation Can Help in Fraud
There is a new buzzword in town and it’s called RPA. And it means Robotic Process Automation. And it is catching steam. If you’re a fraud professional and want to be in the know, you really need to understand what it means to you. If 2016 was known for big data, and 2017 was known […]
The Parable of Many Monkeys and Fraud
An interesting parable originally was written and published on Reddit – here. Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each. The villagers, seeing that there were many monkeys around, went out to the forest and started catching them. The man […]
7 Ways You Can Help End Human Suffering in Fraud
Matt Friedman is a man on a mission. His goal in life is to reduce human suffering caused by trafficking. For 30 years he has fought modern slavery. He travels the world on planes, endlessly speaking, educating and persuading others to do the same. He gave 150 presentations in the last year alone. I met […]
America’s First Auto Fraud Case 1941
I always thought Auto Lending Fraud scams were a relatively new phenomenon. After all, white-collar crime has risen as banking and new technologies have emerged over the last 20 years. But boy was I wrong. About a week ago, I decided to challenge myself and find the oldest case of auto lending fraud that I […]
7 Red Flags in Auto Finance Fraud
Matt Wood wrote a great article for PowerSports Finance that originally appeared here – 7 Red Flags that An Application Might Be Fraudulent. As part of that article, he interviewed industry experts and fraud professionals such as myself to understand what makes an auto finance application risky. When there are information discrepancies If the information doesn’t […]
Venmo Fraud Spikes – Takes Higher Operating Losses
2018 has been a tough year for Venmo. Fraud activity is on the rise pushing up their losses and as they try to respond and cut off the fraudsters, they are pissing off thousands of customers. In the first 3 months of 2018, Venmo reported an operating recorded an operating loss of about $40 million […]