These Fraud Department Scam Calls Are Everywhere Now
Scammers are going to make it impossible for fraud analysts and banks to reach customers to protect their accounts. Tens of thousands of consumers are getting calls and texts from fake fraud departments, and it’s really starting to undermine the validation process banks use to verify activity with their customers. When a consumer becomes a […]
Binance Has 700 Employees In Fraud And Compliance
Close to 10% of Binance’s staff is dedicated to compliance. Tigran Gambaryan, the head of Binance’s financial crime unit, reported that 700 employees focus on compliance, with 170 of them collaborating with law enforcement agencies to fight against fraudulent activities. He made these comments at the Consensus 2023 crypto and blockchain conference in Austin, Texas. […]
Watch Car Dealer Shred A Fraudster And His Fake Docs
This car dealer is fed up with a fraudster that tried to pass a fake driver’s license and document to get a car. I am not sure what is going on with this guy’s hair, but it looks like it could be a hairpiece – perhaps part of his disguise. In any case, the dealer […]
American Phones Are A GoldRush For Scammers
The Guardian reports that robotexts from scammers are bombarding Americans’ phones daily, causing consumers untold losses. Sophisticated smishing campaigns launched by scammers are so profitable that it has resulted in a GoldRush for scammers – the gold being the money in American’s bank accounts. An Absolute Blitzkrieg Of 521 Million RoboText A Day 2022 saw […]
Fraud Fighters – Someone Out There Is Counting On You
Why do you do what you do? I think it comes from inside you. You have the desire to help people. And that’s why you chose to be a fraud fighter. And now, people out there are counting on you. Maybe you don’t know it. But they do. If you’re a fraud fighter, this post […]
Remote Jamming Is Latest Trend In Credit Card Theft
South Africa may be ground zero for a new trend in credit card fraud. It’s happening in gas stations, supermarket parking lots and parking stations across the country. It’s called Remote Jamming. Remote jamming involves criminals interfering with the signal between a vehicle’s immobilizer and the car, preventing it from locking even when the owner […]
Hindenburg – Did 50% Of Cash App’s Customers Vanish?
Hindenburg kept the assault on Block this week, saying that Block’s response to their allegations actually confirms that they have inflated their user accounts for years. They claim that instead of refuting the key issues, Block’s response confirmed much of their analysis and avoided addressing many of the other claims. Block Confirmed 44 Million Active […]
Auriemma – Check Deposit Fraud Is Up 385% Since 2021
It’s clear now. Check fraud is the #1 problem for banks in 2023. New benchmarking data collected by Auriemma Roundtables indicates that the problem of check deposit fraud is up a whopping 385% in 2022. The company collected benchmarking data from 2021 and 2022 and calculated each year’s total check deposit fraud rate. The check […]
A $10 Million Hamburglar Fraud At Burger King
The McDonald Hamburglar had nothing on 5 women from Jamaica that are accused of stealing $10 million dollars from their employer Burger King. Sources say the 5 ladies stole $10 million from the hamburger joint by voiding out transactions and keeping the cash when customers would pay. The 5 ladies (including the supervisor of the […]
CashApp – Fake Account Fraud Fact Or Fiction?
Karisse Hendrick and I had a chance to sit down and discuss the bomb fire allegations made by Hindenburg Research against Cash App. They made claims of systematic fraud that made many believe that 50% to 75% of the accounts on the platform were either fake, involved fraud or were duplicate accounts. But all is […]
Holy Fraud! Fake Priest Prey On Victims For $28 Million
Holy Fraud, batman! ? Three individuals masquerading as men of the cloth and financial consultants operated a Ponzi scheme, amassing nearly $28 million until substantial overdrafts in their bank accounts exposed their deception. They claimed to be holy men and pastors that were only interested in “helping people,” but in reality they were only interested […]
Podcast -What Is Tech-Infused Social Engineering?
I was a guest on Ayelet Biger-Levin’s Scam Ranger Podcast to discuss the use of technology in combination with social engineering tactics to execute online scams, including bots, voice imitation, and deep fakes. This is a growing problem, and I believe where scams are headed – particularly as accessible Ai begins to proliferate. I recommend […]
Industry Vet Launches Silver Bullet “Fraudinator”
Karisse Hendrick, the host of the Fraudology Podcast, has done it. She has been working on a new stealth company for years and finally launched it today – April 1st, 2023. The company is called SilverBullet, and their first product is called “Fraudinator” For Immediate Release Silver Bullet is thrilled to announce the launch of […]
Bots Unleashed Identity Fraud Attacks After SVB Failure
Fraud follows chaos. And the Silicon Valley Bank (SVB) implosion kicked off a wave of identity fraud attacks. Mike Cook, posted a research blog that found close to a 500% increase in third-party identity fraud attempts against small business banks on March 10th – just days before SVB was shuttered. Read the blog here – […]
Fraud Model Flashes Highest Risk Of Fraud In 40 Years
A fraud prediction model designed to track corporate manipulation of earnings is flashing red hot. A report today by the Wall Street Journal finds that manipulation of earnings from Corporate America is on the rise – flashing higher risk than at any time in the last 40 years. The fraud prediction index uses the same […]
Bombshell Report- Cash App Accused Of Massive Fraud
Fraud experts have always known that Cash App was a haven for fraud and scams but a new damning report also suggests that owners of the parent company – Block – may be profiting enormously off that fraud. Hindenburg Research released a searing report today where former employees of Block claim that 40%-75% of accounts […]
Raise Your Hand ? If You Did This For Your First Fraud Job
It was my first day at the new job. ?♂️ My manager pointed to a cubicle and said that’s where you’re going to sit. The desk had a phone and an old computer. ☎️ Tess – my co-worker and very first fraud trainer, dropped a stack of paper ? on my desk and said, “Time […]
A Storm Of Silicon Valley Bank Scams Emerge
Where there is chaos, there is fraud. The Internet Storm Center reported that scammers are having a field day with Silicon Valley Bank customers this week. The first clue came when a massive race to secure “SVB” related websites as the bank’s woes began. The report is quick to call out that “Not all of […]
How To Foil A Scheming Fraudster For $2
Why is a pen company on the front lines of fraud? Mail thieves are ripping off consumers across the US by altering their checks. And the banks are not always returning their money. 7 On Your Side out of New York posted this interesting video highlighting the stories of two consumers who had to fight […]
FTC Calls Social Media A “GoldMine For Scammers”
The FTC believes that Social Media has been a goldmine for scammers, and now they are taking action. In a sweeping order issued this week, the FTC requested information on how these companies scrutinize and restrict paid commercial advertising that is deceptive or exposes consumers to fraudulent healthcare products, financial scams, counterfeit and fake goods, […]
Texas Mailed Chinese Crime Ring 3,000 Real Id Cards
This week, a large organized identity theft scheme was uncovered against the State of Texas by a Chinese Crime gang operating out of New York. The Texas Department of Public Safety (DPS) revealed that the Chinese criminal organization specifically targeted Asian Texans on its driver’s license website and got them to send 3,000 ID’s out […]