Greedy Criminals- Binance Never Filed A Single SAR Ever
It’s hard to believe that Binance is still in business. ? Changpeng Zhao, the founder, started the company in 2017 and he managed to stockpile so much money in the last 5 years that he is able to pay the largest single fine in US history – over $4 billion dollars. By all accounts, Binance […]
AI Bots and Targeted Attacks Hit Online Retailers
Karisse Hendrick always breaks the latest news in online fraud trends, and this latest one is a doozy. AI bots have emerged. The bots are not rule-based scripts but they appear to be driven by artificial intelligence and they have the ability to self learn and adapt their scheme to get transactions through. The AI […]
Black Friday Merchants Brace For ShapeShifter Attacks
It was Friday, November 25th 2022. When Karisse Hendrick woke up, she knew something was wrong. Her phone was blowing up with text messages ? – one after another. Fraud was going haywire and merchants were letting her know. Black Friday is always bad, but this was one was different. The fraud attacks were coming […]
Car Gang Buys Cars For You With Synthetic Identities
It’s Grand Theft Auto but with a new wrinkle. And this scheme is blowing my mind. ? A group which I call the “Car Gang” has setup Facebook and Telegram channels to offer a new all in one car buying service using newly created synthetic identities. The gang does all the dirty work of creating […]
How Romance Scammers DeepFake Video Calls
It used to be the case that Romance Scammers could never fully engage their victims because they could never pull off a realistic facetime call with their victims. But that is changing with the introduction of new apps like Xpression Camera which offer realtime video fakes using any photo that is uploaded. Check out this […]
FlowGPT – Is This The Next Telegram But For Fraud AI?
Forget FraudGPT, that is old news. Have you heard of BlackHatGPT, Anarchy, FraudCode, or Code Fraudster? Neither had I until I stumbled on FlowGPT and took a look around. FlowGPT is a community-driven platform that allows users to share and discover AI prompts. Think of it like the App Store but for customizations of ChatGPT […]
Profit Killer – Check Fraud Hits Banks Earnings Hard
Check fraud is hitting banks profits hard. American Banker reports that Check fraud is costing Region Banks tens and millions of fraud losses each quarter and transcripts from the banks recent earnings call detail just how hard the bank was hit. Hit With $135 Million In Check Fraud, Losses Quadrupled Operational losses due to check […]
“CPN Whips” Help Fraudsters Monetize Their Synthetic ID’s
Fraudsters love their cars. They just don’t like to pay for them. So they turn to CPNs (Credit Privacy Numbers) to create millions of new identities that they can use to get those cars for free. This year, fraudsters will attempt to purchase over $13 billion in cars using fake identities – most of those […]
AI Defeated My Voice Clone When My Friends Could Not
The cat is out of the bag. ? AI has been unleashed into the world. Everyone loves what it can do for them, and for their businesses. ? But the fraudsters and scammers love it too, leveraging the tech in a new genre of fraud called “AI enabled fraud”. And it’s actually happening right now. […]
Fraud Conference Attire – Who’s Wearing What?
Money2020 and the conference season are in full effect and the question on everyone’s mind is of course. “What should I wear?” In the new ultra-casual business world, this is more complex than it used to be. In the 1970’s, it was clear cut – you would find the brownest coat and widest and most […]
Scammers Are Perfecting Romance Scam Deepfakes
If someone won’t video call or hop on FaceTime with you it is a pretty good indicator that you might be getting Catfished. Well that used to be the case. But that key red flag may no longer be the case as Nigerian Scammers seem to have figured out a way to deepfake those video […]
Nightmare Upgrade – Bank Attacked By Fraudsters
It doesn’t take long for fraudsters to figure out a great opportunity. And that is exactly what happened at AmFirst last weekend after they launched an upgrade of their online banking portal. The CEO Announced The Upgrade The CEO, Bill Connor announced the update one month ago and advised that the bank would be upgrading […]
LinkedIn Has Too Many Pig Butchering Scam Accounts
I received a connection request on Linkedin that was very odd. Her name was Angela Evans. She worked as a marketing executives. She had hardly any LinkedIn connections. And she immediately wanted to begin communicating on WhatsApp. Like thousands of others on LinkedIn, I was being lured into by a Pig Butchering scheme and Angela […]
Face It. AI Will Never Eliminate The Fraud Analyst
AI is artificial. ? Fraud analyst are real. ? And that is why AI will never eliminate the fraud analyst. In fact, it will only drive more demand for fraud analyst. If you’re a solution company selling the pipe dream that your super AI is the only way to spot the deep fakes and frauds, […]
Fraud Hype – Is DeepFake AI Threat Just Talking Photos?
AI is coming for you. It’s going to take your job. ?? It’s going to steal your money. ? It’s going to give fraudsters a magic wand to do all their evil deeds. ? Is this all hype, though? For the present moment. Yes. Could it happen in the future? Possibly, but not likely. Well-respected […]
Should I Be Scared Or Excited About This DeepFake AI?
As you know I have been following the tremendous and scary progress of artificial intelligence and deepfakes. Recently, I published a blog about how far voice cloning has come in the last 6 months. In that post I created a voice clone and asked people to choose which voice belonged to me, and which was […]
Why Steal A Person’s Identity When You Can Steal A Cars?
A new report released by Kasada today found evidence that a successful credential stuffing attack may have been performed against large automotive manufacturers, exposing accounts to fraud and theft. According to researchers the data is being sold for $2 a piece on a private Telegram Channel. And it can be used to do a lot […]
The Simple Fraud Rule I Used To Crush Fraud Losses
In the late 90’s I was hired to manage the credit and debit fraud strategies for a major bank. The bank was getting hit with every counterfeiting fraud ring imaginable and fraud losses were hitting 7 times the industry average. My boss at the time said to me, “Find a Way To Help Us Reduce […]
Uh Oh. Fraudsters Find Ways To Exploit Your Fraud Scores
Trust the fraud score. Until you can’t. One fraud fighter, Nate Kharrl, is alerting the industry to a problem that he is seeing emerge and one that might have fraud analysts second-guessing the fraud score on the next online order they’re investigating. He Revealed The Scheme On Karisse Hendrick’s Fraudology Podcast According to Hendrick and […]
This Is Why I Think Imposter Scams Will Explode Soon
Hardly a day goes by when the media isn’t warning us that AI is about to change our world. Maybe some are skeptics, but I absolutely believe it will. And there is one reason I believe that is the case – AI Voice. In less than one year, voice cloning has gone from sounding completely […]
Fraudsters and “Walker” Nabbed At Chase For Checks
A dramatic video shot through Police body-cams captures the moments that an elderly man and his accomplice are caught trying to print 4 pages of fraudulent checks at a Chase Bank in Florida. While police hold “Burnie” in the bank, his accomplice flees in a black Mercedes 300 and proceeds to toss 13 fake ID’s […]