How Fraudsters Trick You To Bypass 2FA
An interesting and clever example which shows just how scammers and fraudsters will go to get your one-time password or those 2 Factor Authentication codes to your bank accounts. This example popped up here on Reddit. The person that received the text was tricked into sending the scammer the one-time passcode that they then used […]
Has Auto Loan Fraud Replaced Car Theft In The US?
Thefts of cars have gone on a decades-long decline here in the United States. In 2003, there were more than 433 car thefts per 100,000 people. Today, the number of thefts has dropped to 215. That is a reduction in car thefts by over 50%! FBI Crime Reports for Auto Theft When it comes to car […]
The Skim Reaper Spells Doom To Skimming Fraud
The Secret Service estimates that over $1 Billion Dollars is stolen from US consumers each year due to card skimmers. The University of Florida has developed a skimming detection device that can instantly identify if a card reader has been compromised by a skimmer in the hopes of reducing losses to consumers. The device is […]
Industry Insider Wants to Kick Fraud Out of Auto
Joel Kennedy knows a thing or two about auto finance. You could call him an expert. He co-founded a company that specialized in lending to borrowers with low credit scores called Pelican Auto Finance. In a recent article that appeared in Non Prime Times, he shines the spotlight on one issue that he believes the […]
Kids Are Twice As Likely to Be Fraud Victims Than Adults
Here is something to make your bold boil. Toddlers and kids are under attack by fraudsters. About 1 in every 50 kids is subject to becoming victimized by fraudsters in this day and age. Your son, daughter, grandson or granddaughter are the #1 target of these fraudsters because their social security numbers are cleaner and […]
Congress Strikes Back at Synthetic Identity Fraud
Congress is striking back and fraudsters that steal children’s social security numbers to perpetrate synthetic identity fraud. The U.S. House of Representatives approved a new law that U.S. Reps. Carlos Curbelo (R-FL) and Randy Hultgren (R-IL) led to stop synthetic ID fraud in which children’s identities are commonly stolen and used by scammers to create […]
Bad Bots Are Taking Over the World
2018 was the year that Bots went mainstream. According to a new report by Distil Networks, Bot activity accounts for 42% of all internet activity. And what’s worse, is that close to half of that activity is by malicious “bad” bots. Bad Bots are taking over the world. 1 in every 5 hits to […]
Shaq Drops $70K at WalMart, Gets Declined For Fraud
Shaq does everything big. He stands a towering 7 feet 1 inches tall. He dunks big. He rebounds big. He’s got size 22 shoes. And he owns 155 Five Guys Burgers joints. The guy is a big personality. And he is a big spender too. There is one record that no one can touch – […]
A Quick Way To Defraud a Fraudster
Are you pissed at fraudsters and scammers that are constantly phoning or emailing you with every scam known to mankind? I regularly receive at least 1 fake IRS phone call a day and I am fighting back. One of the best ways to fight back is to waste the scammers time. This site is an […]
5 Mistakes To Avoid When Launching Zelle
Products in banking are changing fast! And no where is that more true than instant payments. Nearly 60% of consumers use peer to peer payments on their cell phones and that number jumps to 80% if your between 18-34 years old. Venmo initially prompted the craze with their enormously popular application that would let people send […]
Watch Guy Sweat Bullets as He Pitches Scam to Dragons
Watch this poor guy sweat bullets on National TV as he tries to pitch a pyramid scheme to the dragons on national TV. His ex-wife scammed him out of $10,000 and he tries to recruit the dragons into a scheme so he gets paid back. https://www.youtube.com/watch?time_continue=302&v=XCuLN9yWMUo
6 Reasons Why P2P Fraud is A Big Big Deal
Person to Person Payments (P2P) is blazing hot! It is without a doubt the hottest trend in banking as apps like Venmo and Zelle boast millions of new users monthly. But it also happens to be the hottest fraud trend as well, as cybercriminals and scammers rush in to take advantage of instant payoff as […]
Mortgage Fraud in China Is Out of Control
There is a property binge in China and people are so afraid of missing out on the gold rush that they are lying on their applications. Since 2012, property prices have been on a tear as the economy has improved and the government has offered incentives to help people get into homes. They lowered down […]
Hero Refunds $20,000 To Fraud Victims Brilliantly
You have to watch this video. This guy is a hero. He is a brilliant coder and managed to turn the table on scammers that were trying to steal his money through a tech support scam. By utilizing a keylogger program he was able to turn the table on the scammer, get his bank account, log […]
32 Mercedes Seized in Auto Lending Fraud Case
32 Mercedes Benz vehicles were seized by Law Enforcement in Los Angeles last weekend with a value of over $3 Million. The vehicles were discovered by the California Highway Patrol right before they were going to be loaded on shipping containers and headed to China. Mercedes Benz imported from the US are a hot commodity in China […]
The Woz Gets Defrauded Out of His Bitcoin
Steve Wozniak had 7 bitcoin stolen from him through a credit card fraud scheme. The co-founder of Apple computer explained how he lost the bitcoin to a clever fraudster that conned him out nearly $100,000 by paying him with a phony credit card and then canceling the payment when the bitcoins were transferred. He Wanted […]
Phishing Fraudsters Pretend To Be Phony Fraud Analyst
Fraudsters figured it out. If you can’t beat em, join em. Which is exactly what they are doing now, and scamming consumers for tens of millions of dollars each month. If you want to see how they are doing it. Check out this story posted by a consumer that got scammed – I Got Phished. […]
Synthetic ID Fraud is Hot, But Think Bigger
As fraudsters become more sophisticated, more types of fraud are affecting auto finance. But rather than put the bulk of resources into emerging fraud types, auto lenders should develop a holistic approach to fighting fraud, experts say. “There is a tendency for lenders to react to the fraud of the moment,” which for now is […]
$1.8 Billion Dollar Internal Fraud Discovered at PNB
Do you think Internal Fraud is not a big deal at banks? Most banks I know don’t think they will ever get hit. But Punjab National Bank in India might change your mind. In the last week they discovered a $1.8 billion dollar fraud. 3 employees were arrested. And the bank branch where the theft […]
Employee Reports Fake Accounts – No One Listens
Have you heard the phrase, “If a tree falls in the forest and no one hears it, did it actually make a sound ?” It’s a mind bender but it makes you stop and think – was a sound made? I would change that phrase just a little bit and say, “If an employee reports […]
Digital Identity Companies Getting Gobbled Up
Digital Identity is red hot. And large companies are rushing to acquire technology companies that can bolster their defenses. In December 2016, American Express purchased InAuth, a mobile device authentication company, to provide the automated service on the Accertify platform. And just this week, Relx, the British publishing group turned analytics company bought ThreatMetrix for […]