ID.me Fraud Checks in Arizona Dropped Fraud 99%
A recent article by Axios details how effective drivers license verification from ID.me might have been in protecting Arizona state from unemployment fraud claims. In October of 2020, unemployment fraud claims were skyrocketing in the state. 570,400 initial PUA claims were filed in the week ending October 10, 2020. A month later, after hiring ID.me […]
Guerilla Black Details His Credit Card Fraud Empire
At his peak, Compton rapper Guerilla Black was bringing in $40,000 amount in proceeds from the 27,000 credit cards he stole. And he worked globally, stealing from banks in England, Switzerland, Nigeria, Mexico, Italy, Canada, Sweden, France, Australia, Norway, Ireland, Russia, Denmark and Germany. Check out this No Jumper interview where Guerilla Black explains what […]
Apple Is Leading The Way With A New Digital Identity
What Apple does, everyone follows. IOS15 is coming and it offered up some huge news on the digital identity front. Today, Apple announced that the company will soon add digital driver’s licenses to the Apple Wallet. And newly granted patents indicate that Apple is well on their way to become the standard in Digital Identity. […]
Learn How A Love For Rapping Destroyed Fraud Ring
Rappers, Social Media and money laundering. This story has it all and is a great expose into the new world of cyber fraud and bitcoin to facilitate money laundering. It’s also a glimpse into the a fraud network that spanned many countries and utilized hundreds of people to hack into victims bank accounts and then […]
BofA Ordered Not To Block EDD Without Proof of Fraud
A federal judge prohibited Bank of America from freezing accounts for California unemployment benefits based solely on an automated fraud filter that the bank has deployed. U.S. District Judge Vince Chhabria issued a preliminary injunction that was sought in a class action lawsuit by 15 Californians. Those California residents were amount the thousands that had […]
Should Fraud Analyst Scan Social Media To Fight Fraud?
Fraud and scams are reaching epidemic levels. Some say that its higher than any other point in history. And you can count me as one of those people. But what is behind this stratospheric rise in fraud and scams? What is driving it upward like never before? I believe it’s social media. Telegram. Facebook. Instagram. […]
Retired FBI Agent Scams Victim, Faces 178 Years Prison
A retired FBI agent who allegedly convinced a Granbury woman she was on “secret probation” and conned her out of roughly $800,000 has been federally charged, announced Acting U.S. Attorney for the Northern District of Texas Prerak Shah. He is facing a sentence up to 178 years in prison now. He Told Victim She Was […]
States Struggle With Backlogs From Fraud Checks
ID.me provides a very valuable identity fraud check that about half the states in the US are relying on to curb unemployment fraud claims. ID.me claims that the solution is stopping billions in potential fraud for states and that is likely true. But it is not coming without some backlash. This week, ID.me is coming […]
Fintechs Could Be In Big Trouble Over PPP Fraud
Fintech companies could be in big trouble over PPP fraud. They are under immense scrutiny over the inordinately high level of fraud they processed over the last year. The PPP Program was a boon for Fintech companies this last year, generating billions in profits for them, while shouldering the cost of fraud and default of […]
Fraudsters Targeting New SBA Restaurant Fund
How many time can the SBA get hit with fraud? It seems like the attacks will never stop. This week, fraudsters are all over the new SBA Restaurant Revitalization Fund. That seems to be the case based on all the activity on social media and telegram channels focused on fraud. The Program Launched Less Than […]
UK Banks Reimbursing Almost 50% of Scam Victims
UK Fraud Finance published their annual fraud report for 2020 and there is some surprising news on scams. In 2020, UK Banks reimbursed close to 50% of Authorized Push Payment losses back to consumers. UK Finance began collating and publishing data on authorised push payment (APP) scams (also known as bank transfer scams) in 2017 […]
Lemonade Under Fire For Using AI To Stop Fraud
Lemonade, (not the drink) but the insurance startup is under fire for bragging that they use Ai to analyze up to 1,600 data points on insurance claims made via their video app, and then denying those claims if they suspect fraud. And it didn’t go very well at all. Twitter and social media erupted when […]
Fraud Company Now Valued at Over $3 Billion
2021 has been the year of the Fraud Company Unicorn with 5 different fraud companies reaching stratospheric valuations. Today, Forter, the leader in e-commerce fraud prevention, today announced it has raised $300 million in Series F funding led by Tiger Global Management. With this investment, the company is now valued by investors at over $3 […]
This Teen Stole $2.8M, Then Became a Fraud Consultant
Elliot Castro was a smart kid. As a teenager stole £2.5m through credit card fraud and blasted the lot on Rolex watches, cars, top-end restaurants and five-star hotels in every country in Europe. According to Wikipedia, Castro claims that his first brush with criminality was when he, as a teenager, found a credit card on a train platform and […]
Deuces Wild Nets $5 Million in IRS Tax Fraud Scam
Deuces Wild is a popular variant of video poker, where the objective is to get the best possible poker hand. When you pull a deuce card, it can mean any card in the deck that you want. But Deuces Wild takes on a whole new meaning in the world of IRS Tax Fraud this year. […]