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 […]
Synthetic Identity Is Back With A Vengeance
It’s baack. Synthetic Identity has returned with a vengeance. That, according to a newly released report by TransUnion that claims that lenders’ exposure to synthetic identity has exploded to $3 Billion. We are now at an all-time high, according to the credit reporting giant. From $855 to $3 Billion In Last 2 Years In 2021, […]
AI Bots Are Way Better At Captcha’s Than People
Ai is coming for your security puzzles. Captcha means Completely Automated Public Turing test to tell Computers and Humans Apart. The test, which is used to prevent login fraud is now in danger of becoming irrelevant because AI Bots are now better at completing them than humans. Face it, everyone hates the puzzles anyway. Now […]
Dealership Employee Got Caught In Big Fraud Fakery
A would be police officer recruit and Finance Manager at Red Rock GMC was allegedly caught pretending to be a customer on verification calls with the lender. She was charged with forgery, criminal impersonation and identity theft after being accused of impersonating customers in phone calls with Canvas Credit Union. During Funding The Fraud Scheme […]
Hacking Group Took Sim Swapping To The Next Level
Beginning in late 2021 and continuing late into 2022, a globally active, extortion-focused cyber threat actor group called Lapsus$ attacked dozens of well-known companies and government agencies around the world. It penetrated corporate networks, stole source code, and then demanded ransoms. In a newly released report by the US Government on Thursday, it was discovered […]
Empty Boxes – Is This An Inside Job At The IRS?
A report by a watchdog group is calling into question the IRS’s processes for protecting taxpayer data. And a report that appears in the Daily Mail this week indicates that the IRS has lost track of millions of sensitive records putting taxpayers at risk of identity fraud. Whose data is missing and what is the […]
Mortgage Payoff Fraud Is Spiking – Up 532%
Home sales are way down but fraudsters are not hitting the brakes on mortgage related fraud. A new CertifID report finds that fraudsters are shifting their tactics and resorting to more lucrative mortgage fraud schemes including diverting closing funds. The firm caught $1.9 million in attempted mortgage payoff fraud in Q1 2023. By Q2 of […]
This New Airline Imposter Scam Is Really Bad
Scammers are out of control, impersonating airlines to steal people’s credit cards. It’s a real devious con job that appears to be based out of India. They Post Fake Customer Service Numbers For Major Airlines The scammers are posting fake 800 numbers from major airlines, so when people google search for an airline to make […]
He Tried To Cash A $368 Billion Fraudulent Check
Let’s go back in the Internet Gold Hall of Fame momentarily and remember a Florida Man who tried to cash a fraudulent check. Not just any check, but a check made out for 368 Billion Dollars. A Strange Story Based On A Strange Story In May 2015, Jeff Waters walked into a bank in Jacksonville, […]
Another Unemployment Fraud Wave Hits Several States
Multiple states appear to be getting pounded by unemployment fraud claims. At least two states (Ohio and Connecticut) , and possibly a third (Colorado) have reported a flood of new fraudulent claims. What is this, Wave #5 of Covid Fraud? Connecticut – 75% of Unemployment Applications Are Fraud The state Department of Labor in Connecticut […]
It’s Eerily Quiet On The FedNow Fraud Front
The much anticipated FedNow Program launched on July 20th. It’s offering the instant, round-the-clock ability to issue a paycheck or pay an invoice. Heck, many think you’ll even get your paycheck faster with the service. But many fraud experts have been holding their breath, expecting that the tried and true postulate – Fast Money = […]
T Mobile Employee Arrested For Sim Swap Fraud
T-Mobile. If you are listening, You might have an insider fraud problem. Fraudsters are advertising all over the dark web and Telegram, and just this last week, an employee in New Orleans was arrested for a massive case of Sim Swap Fraud. She Sim Swapped 32 Different Phones Tamber Blackmore was arrested last week for […]
Dark Tower Exposes Pig Butchering Recruiting Sites
Trionix Multitech, “a crypto currency company” is looking for female models to join them in exotic locations. They pay $5,000 a month, and that doesn’t even include room and board. If a girl accepts a job from one of these sites however, she will join the estimated 100,000 other girls the Los Angeles Times estimates […]
Checking In With My Fraud Compadres on Fraudology
We all have our fraud compadres. You know those people that you could talk for hours with on any topic related to fraud. Well, Karisse Hendrick and Mary Ann Miller are my fraud compadres and each year we come up with our predictions for the following year. For 2023, we made 10 predictions which you […]