Fake ID Theft Reports Could Number In The Millions
A recent Wall Street Journal Article is shining a light on the massive problem of credit washing and fake identity theft claims. According to the article, “Credit washing has slowed down the process of getting loans at some banks while lenders look for other ways to evaluate potential borrowers, and it’s eroding the confidence banks […]
Report – Banks To Start Refunding Some Zelle Victims
The New York Times reports that Zelle and the seven banks that own the payments network Zelle are preparing a major rule change early next year that will require the network’s member banks to compensate customers who fall victim to certain kinds of scams, according to two people familiar with the plans. This is a […]
Ai Wrote This Blog Post About Fraud For Me
Jasper Ai wrote this article. Jasper is an AI Content Platform that claims to promises to help you create amazing, original content 10X faster. It uses synthetic intelligence to create blog posts for content creators. Sounds like it could eventually replace humans, maybe? I decided to test it, so I asked Jasper to write me […]
He Ran A Million Dollar Fraud Shopping Network From Jail
Miami’s Danny Faries is one of the most notorious and inventive fraudsters in history. For four years, while in jail on a murder charge, Faries ran a massive credit card scam without leaving his 6 x 8-foot cell. It was called “The Jailhouse Shopping Network.“ This fraud stretches way back to the earliest days of […]
Romance Scam Turns Dark – Killed For Her Organs
Romance scams can turn dark, particularly when it leads to something far worse – human organ trafficking. 51-year-old Blanca Arellano told her family that she would be taking a trip to Lima, Peru, where she planned on meeting a man she met online- Juan Pablo Jesus Villafuerte. She was very much in love and wanted […]
OTP Bot Service Shut Down In Massive UK Investigation
A major counterattack against OTP Bots was initiated yesterday by police who shut down one of the biggest players in the industry. OTP Bots, designed to automate the theft of one-time passcodes from unsuspecting bank customers, emerged about 18 months ago. The bots were immediately popular because they enabled scammers to spoof bank phone numbers, […]
The Flip Side Of Fraud -Fake Sales & Dark Patterns
It’s almost Black Friday. You know what that means. Big Sale! You know when you walk into your favorite store and see that sign, your heart starts to beat a little faster. Or maybe you go online and see your favorite retailer offering big discounts. You get a little bit more excited because you […]
Emily, The Criminal. Heart-Stopping Card Fraud Thriller
Credit card fraud as you’ve never seen it before in this newly released heart-pounding thriller about Emily. Actress Aubrey Plaza plays Emily. She is saddled with student debt and locked out of the job market due to a minor criminal record. Desperate for income, she takes a gig as a “dummy shopper,” buying goods with […]
Over 2,000 Ghost Employees Vanish In South Africa
An investigation into the salaries of railway workers in South Africa has resulted in some shocking findings. Investigators determined that 2,134 employees on the payroll were ghosts. They do not exist, and the millions in salaries they were paid appear to be a “scam” according to the head of the agency that investigated the matter. […]
ID.me Responds To Claims It Inflated COVID Fraud Losses
ID.me is being raked over the coals by the House Committee on Oversight and Reform for reportedly inflating stimulus-related fraud losses by hundreds of billions of dollars. ID.me said $414 billion was lost (about 50% of total benefits paid out), while the Department of Labor estimated the real figure was 10 times less, at $45.7 […]
Are Professional Refunders Tapping Insiders At Walmart?
Attention Walmart, you might have an issue with insider fraud. And Amazon, you might want to look too. According to a professional refunding tipster and research on Telegram, there is evidence that major retailers may be getting hit by employees that are in cahoots with professional refunding fraudsters. Twist And Turns In Professional Refunding Over […]
Faces Of Fraud – New Ai Generated Fraud Awareness
To show the growth of fraudsters’ capabilities, HSBC has released a technologically advanced campaign that uses artificial intelligence to generate composites of the faces behind the voices of those behind the scams. The education campaign, titled “Faces of Fraud”, was developed by Wunderman Thompson and follows a forecast from payment processing firm Merchant Savvy that […]
Rotten To The Core. Was FTX A Massive Fraud?
Sam Bankman-Fried was touted as the world’s most generous billionaire. He founded his company, FTX, with the sole purpose of earning money to give it away. This week, his dream has come tumbling down as FTX has declared bankruptcy and hundreds of millions of customer money has been hacked and stolen by an insider at […]
Need A Fraud Mentor? There’s A Guy For That.
Are you a wanna-be fraudster but don’t know where to start? Do you have dreams of making stacks of cash and living the good life? Have you bought fraud tutorials online but can’t make sense of them? If this sounds like you, you’re not alone. There are scores of mentors now offering services on Telegram […]
6 Reasons Why Synthetic Identity Fraud Is Just Stupid
Synthetic identity is estimated to cost companies in the US over $5 billion annually. It’s America’s fastest growing financial crime. And there is no end in sight when it will slow down And that’s just plain stupid. ? It’s stupid because 1) it’s the easiest fraud to identify, and 2) it’s a super easy fraud […]
First Ever Fraud Fight Club Launches In New York City
Who is coming to New York City to join the Fraud Fight Club? ? If you’re not you might want to check it out here – Fraud Fight Club. The event brought to you by About Fraud will take place alongside Fintech Nexus USA, and it’s more than a conference, it’s a club. Best of […]
How Fed’s Took Down A Detroit Street Gang For Fraud
Criminal gangs in Detroit have been known for years for their violence, but one gang took it to a whole new level and turned to COVID-related fraud to pump millions of dollars into their hands. It wasn’t until one gang member got them busted by showing off a fancy ring in an ATM surveillance video […]
Beware of Michael Smith – Synthetic Id Is About To Soar
His name is Michael Smith. He lives in Houston, Texas, in a single-family home. He was born on August 17th, 1991. And he is 100% fake. According to a new study released by Socure, this profile is the most likely to be used in a synthetic identity. The study, authored by legendary synthetic expert Mike […]
Scammed By Astronaut That Needed Ticket Back To Earth
This will go down as a romance scam for the ages. It is literally out of this world. According to Yomiuri Shimbun, a daily newspaper out of Japan, a 65-year-old woman was defrauded of a total of 4.4 million yen by a man claiming to be a Russian Astronaut. The woman met the pretend Russian […]
Infamous Ghost – How Clear Gods Stole $28M in CellPhones
Have you heard of The Clear Gods? I never did until I caught this report by Infamous Ghost. An unsealed indictment from last month charged seven alleged group members with orchestrating a massive scheme involving more than 26,000 fraudulent transactions. They came up with the name “Clear Gods,” which refers to clearing or removing new […]
Undercover Fraud Analyst Exposes Employment Fraud
He’s a Fraud Analyst at Point Predictive, and he just exposed a sinister scheme that impacts lenders worldwide. What did he do? He went undercover, posing as a lender that needed a verification of employment, and helped Auto Finance News Investigative Journalist expose the problem of CPNs, fake paystubs, and fraudulent employment verification. To expose […]