New Report – Fraud Soaring But Banks Struggle With Tech
A new report released by Featurespace this week sheds light on just how much banking executives are grappling with the growing problem of fraud and all the headaches it’s causing for them. The Featurespace report which polled 200 executives working at large financial institutions reports that 62% of banks are reporting higher levels of fraud […]
Jose Pacheco Can’t Make A Good Fake ID
Today in fraud news – the winner of the worst fake ID in history goes to poor Jose Pacheco. Jose paid good money for a fake id, but he had one little problem – he had his girlfriend join him for the photo. Now, even though this ID Jose made might be fake, his love […]
Fraud Check Washers Hate This Very Ordinary $2 Pen
According to recent reports and fraud experts, check fraud is booming again. In the last 6 months, various new variants of old methods have emerged. In large part, those losses are driven by skyrocketing thefts of checks from the mail, which are then “washed” and cashed or deposited by fraudsters through bank accounts. By all […]
Fraud KingPin Had ID Theft Evidence Against Him Deleted
Nigerian Fraud KingPin James Aliyu was recently arrested at his luxury Sandton home in South Africa. For years law enforcement sources and a Nigerian organized crime insider told a publication TimesLIVE, there was suspicion about how he was seemingly able to evade prosecution in the case for so long including an arrest that was made […]
Like Mother Like Scammer – Friendly Fraud Duo Arrested
It took decades for karma to catch up with Karan and Allysa Geist, but it finally did. For 13 years, they allegedly used over 100 different credit cards to pay for designer clothes and lavish vacations and then disputed those charges as fraudulent. In total, they bilked card companies out of $850,000. Card issuers refer […]
Listen to The Credit Washing Podcast on Fraudology
I had a chance to visit with Karisse Hendrick on her stellar podcast Fraudology and talk about the dirty business of washing and fraud. In particular I am talking about check washing – which has orbited to the stratosphere the last year and credit washing – which continues a steady climb upward since 2019. For […]
Going to Jail. He Used Many Names and Kids’ SSN’s
A Georgia man was sentenced today to 94 months in federal prison for participating in a nationwide fraud ring that used stolen Social Security numbers – including those belonging to children – to create synthetic identities used to open lines of credit, create shell companies, and steal nearly $2 million from financial institutions. Corey Cato, […]
Guy Takes Skimmer – ” Hey You Can’t Do That Man”
A Tik Tok user posted a video of a skimmer he found, and it has people debating whether the cashier might be involved in the case. 4 days ago, TikTok user WillHunter908 posted this video which he took at a 7/11 in Milpitas California. “Just did it again”, he says as he pulls a skimming […]
I Just Got Hired At BingBong As The New Fraud Manager
Hi, my name is Harold Tinkintonkin. I really want to thank Frank for letting me guest post on his blog! Now I’ve been in fraud management working for some of the oldest and biggest banks in America. But https://staging.https://staging.https://staging.https://staging.https://staging.https://staging.https://frankonfraud.com/wp-content/uploads/2016/09/online-fraud-losses-7.jpgonfraud.com/wp-content/uploads/2016/09/online-fraud-losses-6.jpgonfraud.com/wp-content/uploads/2016/09/online-fraud-losses-5.jpgonfraud.com/wp-content/uploads/2016/09/online-fraud-losses-4.jpgonfraud.com/wp-content/uploads/2016/09/online-fraud-losses-3.jpgonfraud.com/wp-content/uploads/2016/09/online-fraud-losses-2.jpgonfraud.com/wp-content/uploads/2016/09/online-fraud-losses-1.jpgly, I was tired of all the bureaucracy and slowness of big banking so I left. Screw […]
Is This Man The Greatest Identity Thief In History?
It’s hard to call an identity thief or an imposter a hero, but the story of Ferdinand Demara might come close. Born in 1921, his impersonations included a naval surgeon, a civil engineer, a sheriff’s deputy, an assistant prison warden, a doctor of applied psychology, a hospital orderly, a lawyer, a child-care expert, a Benedictine monk, a Trappist monk, an editor, a cancer researcher, and a […]
Mom To 14-Year Old Son, “Raise Your ID Theft Prices”
You don’t often hear or a parent encouraging their kids to be better at crime, but that’s exactly what happened recently, according to law enforcement officials. 14 year Elijah Duett and his mother were recently charged with an identity theft scheme, according to a recent press release from the Volusia Sheriffs Department. Elijah first came […]
The Honor System and Why COVID Fraud Flourished
It’s estimated that nearly 50% of Unemployment Benefits were stolen during Covid and that approximately 25% of the Paycheck Protection Program loans were subject to fraud. Catch this Bill Maher episode where he speaks to experts about what went wrong. As you can expect its a heated and emotional conversation. What do you think? Are […]
Is This The Cruelest Check Fraud of All Time?
She worked for Howdy Homemade Ice Cream and proudly posted a video to TikTok to celebrate receiving her first paycheck. It was her very first paycheck of her life. Dale Beck, a 28-year-old with special needs was excited to share with the world her first paycheck which totaled $1,500 and her video garnered over 4 million views. […]
Spot The 8 Tell-Tale Signs of A Synthetic Credit Bureau
Synthetic Identity is a beast of a fraud. ?♂️ It’s America’s fastest growing financial crime, according to the FBI, and is now causing billions in damages every year to just about every type of business. That includes banks, credit card companies, lenders, jewelers, retail stores, landlords renting their properties, and every retailer that grants credit. […]
If You Can’t Beat Em, Join Em. Insider Fraud Hits Post Office
Infamous Ghost has posted another great video that shows how insider fraud plays a part in check fraud’s massive growth. Many postal carriers are being robbed of their keys to still checks. Still, others are committing fraud themselves to cash in on the massive check fraud gold rush. Check out the video and subscribe to […]
She Used PPP Funds To Murder a TSA Agent
A Florida woman took out a PPP loan and is accused of using some of that money to murder a young mother and her child. Jasmine Martinez took out a PPP loan for $15,000 for her beauty salon and used $10,000 of that money for the May 3rd murder of Le’Shonte Jones and the attempted […]
FTC Investigator Uncovers Credit Washing Fraud
The FTC receives and processes over 1.4 million identity theft reports a year. Those reports get loaded into their Consumer Sentinel Network making it one of the richest databases for tracking the patterns of fraud here in the US. But that data might be used for other purposes too. According to recent court documents I […]
The 8 Most Common Cash App Scams To Steal Your Money
Cash App is a wildly popular and convenient app. Everyone loves the convenience and speed of getting cash, but no one more than scammers and fraudsters. When you send cash via the Cash App, you can’t get your money back. And unlike PayPal, Visa, and MasterCard; if you buy something with your Cash App you […]
3 Nabbed In Massive Credit Repair Mortgage Fraud Scam
A trio is allegedly behind a massive fraud scheme that defrauded mortgage lenders, credit card companies, and the SBA. In what seems to be a nice trend in justice, the trio was arrested in connection with a scheme to file false identity theft claims to clean credit to help consumers buy homes they would not […]
The Story of the Very First Case of Credit Card Fraud
“What in tarnation happened to my credit card?” In 1899, the first use of credit cards emerged in the United States — for transportation companies that allowed passengers to ride private carriages on credit and then pay later. Well, it didn’t take long for a farmer to find out what can happen when someone steals your […]
History of Synthetic Identity – Who Discovered This Fraud?
Just about every week you might read an article on a new type of fraud called “Synthetic Identity”. It’s the hottest and one of the fastest growing types of fraud and it’s got the coolest name of any fraud type out there. But did you realize that Synthetic Identity is hardly new? It’s been […]