100% of Argentina Had Their Data Breached
This just in. The Record reports that a hacker breached the Argentinian government’s IT network and stole ID card details for the country’s entire population. That data is now being sold online. The entire country has had its data breached in a single attack. The details are a literal gold mine of information for fraudsters […]
Is The Next Big Fraud For Hire Service BEC?
Palo Alto Networks research team – Unit 42 – is warning that BEC as a service is rising and that Business Email Compromise continues to be one of the biggest threats today. According to the report covered on ZDNET, the security team pored through hundreds of BEC cases, finding the average wire fraud attempted was […]
HSBC Raises the Bar on Fraud and Scam Education
Every so often a bank releases a really great video on fraud to educate their consumers on how not to become a victim. Well, this week HSBC did just that and released this brilliant fraud and scam education video titled “Fraud: Don’t Miss a Trick”. And they did it with humor and magic. Check it […]
Hidden Fraud is a Ghost That Will Scare You
When I was a kid, I always used to say – “I don’t want to say I don’t believe in Ghost because then they will try to scare me”. What I think I meant was that just because you don’t believe in ghosts doesn’t mean they don’t exist. The same holds true for fraud. Over […]
Growth Over Safety -A History of Facebook Revealed
Facebook seems to have a pretty bad record of protecting consumers from fraud, deceit, disinformation, and scams. And that includes Facebook Marketplace, Instagram and even WhatsApp. And all of those companies have one thing in common – Mark Zuckerberg. Facebook generates over $5 billion in profit, has over 3 billion users worldwide, yet they can’t […]
Sole Proprietors Raided The EIDL Loan Program
The Paycheck Protection Loan Program (PPP) is shaping to be the most fraud-plagued government program in history. So it should come as no surprise that it is being rocked by more revelations of preposterous fraud. This week Hannibal Ware, the Inspector General of the SBA, released a report citing over $4.5 billion in potentially fraudulent […]
10 Ways To Increase Your Fraud Management Magic
Fraud Managers are quite often the only ones standing between an army of fraudsters at the gates and the crown jewels of their company. It’s an important job to keep your companies money safe from scammers, fraudsters, and thieves. And that’s why they need to be on their toes and constantly perfect their craft. So how […]
Lexis and ID.me Square Up In Unemployment Fraud Battle
Watching fraud vendors go to war with each other can be interesting. Fraud prevention firms Lexis Nexis and ID.me are squaring up in a battle to get states to invest in their aging unemployment benefit systems. And CEOs, Haywood Talcove of Lexis and Blake Hall of Id.me are not pulling punches when it comes to […]
Will You Fall for A Scam? 4 Things Can Predict It.
In 2017, the FINRA Investor Education Foundation (FINRA Foundation) joined with the Better Business Bureau (BBB) Institute for Marketplace to launch a two-year study of how people react to attempted financial scams. After 2 years of exhaustive research and interviews, researchers concluded that 4 factors played a major role in why victims become victims. The […]
Criminals Increasingly Turn Fraud Into a Violent Crime
In an article published recently by The Sun, armed criminal thugs are stopping victims in the street and forcing them to turn over their online banking credentials so they can commit fraud. Once the criminals gain access to the victim’s account, they quickly siphon and drain the funds, depositing them into “mule”. As fraud and […]
Fraud Magnets Will Make You Drown In Fraud
Have you heard the term “Fraud Magnet“? A fraud magnet has such incredibly weak fraud controls that it creates a strong pulling force attracting any fraudster looking for the fastest easiest way to steal money. A fraud magnet can be a product – like a new mobile payment service. A fraud magnet can be a […]
To Stop Rise in Scams, UK Bank Wants to Slow Down
Fraudsters in the UK are stealing record amounts of cash from customers. According to UK Finance, the organization that tracks Authorized Push Payment (APP) fraud, scammers are stealing £4 million each and every day from bank customers in the UK. To curb the massive and rising fraud, one bank – Nationwide- wants to slow down […]
5 Ways Dealers Can Scam Both Car Buyers and Lenders
Tom Richardson had bad credit. His credit score dropped to less than 600 last year when he had a workplace accident and he had to go on disability. With the crippling debt of the hospital bills mounting, and the $75,000 in student loan debt he had to pay back there was no way he could […]
Nationwide Hunt for $1,000 Credit Card Fraudster?
A federal arrest warrant was issued this afternoon for Brian Laundrie for fraudulent use of a Capital One Debit Card. The arrest warrant which was issued by the FBI shows unauthorized charges worth more than $1,000 were made during the time his girlfriend was missing. Laundrie who has been labeled a “person of interest” in […]
The Activation of Hundreds of Thousands of Fraudsters
Joey Pizzoloto of Auto Finance interviewed me about the impact of unemployment fraud on Auto Finance. You can read the original article here – Unemployment Fraud Activates Hundreds and Thousands of Fraudsters Article by Joey Pizzoloto of Auto Finance News The same economic stimulus that kept consumers current on their auto payments is giving rise […]