A Big Collapse Of Trust: Our Fraud Predictions For 2025
It was one for the history books. As expected, 2024 was “Fraud At Full Throttle” as fraudsters upped their attacks. But it was the breakneck speed of everchanging scams that surprised us most. Just when we thought they could not get worse, they did. And when we felt that AI deepfakes were years away, they […]
Is Credit Repair Fueling the Rise in Synthetic ID Fraud?
Doug wasn’t a very good credit risk. In fact, he defaulted on just about every credit card and loan he ever had. He was about as lousy as paying his bills as anyone out there and his credit score was below 500. But that didn’t stop him from walking into his local car dealership and buying […]
Don’t Ever Let Them Take Your Fraud Fighting Spirit
You were born to do this. You live for it. You’re a fraud fighter and you always have been. Whether you’re an investigator, fraud analyst, fraud manager, or fraud technology creator you love your job. You bounce up out of bed in the morning ready to make a difference; ready to stop some bad guys […]
10 Ways to Enlist an Army To Help You Fight Fraud
Cheats, scammers, and liars. Fraudsters are all of those things. And they are defrauding consumers at record levels. 2021 is going to be a record year for fraud – particularly against consumers. Thanks to epically horrible data breaches, heightened fraud perpetrated by scammers during the pandemic and high rates of identity theft – no […]
Fraud Data Scientist – 7 Ways To Turbo Boost Your Models
Machine Learning is driving huge gains in efficiency and innovation in fraud detection. Behind those gains are Fraud Data Scientists – women and men that train machines to find fraud faster and more accurately by using vast databases of historic transactions to spot patterns of fraud. I have always admired Fraud Data Scientist because […]
Digging Into The Patterns of Unemployment Fraud In Data
It’s hard to piece together exactly what is happening with the rash of unemployment fraud claims. It’s all over the news. And just this week Washington State reported that their new unemployment filings dropped 68% when they implemented fraud controls. It’s hard to believe that fraud controls could have such an immediate and substantial impact […]
Card Fraud Losses in UK Jump 19% – Highest Recorded
Fraud scoring company, FICO, released its annual interactive European Fraud Map, which shows that the UK’s card fraud losses hit a record £671 million in 2018. That’s a big jump, particularly since the UK had managed to reduce losses in 2017 by close to 8% the year before. Fraud losses in the UK accounted for […]
Every Fraud Vendor On One Handy Graphic Right Here
Confused about what fraud vendor to choose? How about taking a look at this slide to make it an even more daunting task! IDC published a great slide that shows every single fraud vendor that you could work with. Well, they forgot to include PointPredictive on this list – so just about everyone. Keep this […]
Fraud Will Rise Again (And 10 Other Predictions for 2019)
2019 has arrived and you know what that means – it’s prediction time again. January is always a good time to look at what might be in store for the coming year so you can plan your strategies. Most of Our Predictions Last Year Were on Target Last year, Global Fraud Fighter Maryann Miller and […]
Has Auto Loan Fraud Replaced Car Theft In The US?
Thefts of cars have gone on a decades-long decline here in the United States. In 2003, there were more than 433 car thefts per 100,000 people. Today, the number of thefts has dropped to 215. That is a reduction in car thefts by over 50%! FBI Crime Reports for Auto Theft When it comes to car […]
Hero Refunds $20,000 To Fraud Victims Brilliantly
You have to watch this video. This guy is a hero. He is a brilliant coder and managed to turn the table on scammers that were trying to steal his money through a tech support scam. By utilizing a keylogger program he was able to turn the table on the scammer, get his bank account, log […]
Counterfeit Card Fraud Drops 66%
Visa reports that counterfeit fraud is dropping like a rock. According to a recent press release, Visa reports that chip technology is the reason for the drop. One of the leading factors was that chip technology is extremely effective in reducing counterfeit fraud, which was the leading type of fraud in the U.S. at the […]
Scammed? Get Your Money Back From Western Union!
Wire Fraud is a growing epidemic here in the US. Fraudsters love it because they can con victims and get their money right away. And Western Union has always been a favorite choice of fraudsters that want to get paid right away. It always seemed like Western Union is a sure thing. Fraudsters counted on […]
FBI Reports Home Closing Wire Fraud Is Spiking
There is explosive growth in wire fraud and it is coming from the most unlikely places – home closings. The FBI is reporting an explosive increase in wire related fraud where hackers infiltrate real estate agents email accounts, send fake emails and convince homebuyers to wire hundreds of thousands of dollars to their accounts with […]
1.4 Million New Phishing Sites A Month Fuel Fraud Epidemic
There are plenty of Phish in the Sea. According to Webroot, there are about 1.4 million new phishing sites created by fraudsters each and every month. And each of those sites is designed to cleverly steal valuable personal and banking information from you. And the emergence of Phishing sites does not appear to be slowing down anytime […]
This Fraudster Opened 8,000 Accounts, Made Millions!
Forty-six year old Kenneth Gilbert Gibson of Reno Nevada opened 8,000 fraudulent accounts in a scam for the ages. His accounts included fraudulently opened PayPal credit accounts, bank accounts, and prepaid credit and debit card accounts he created with stolen identities. After opening the 8,000 accounts, he used the accounts to transfer, $3.5 million to himself […]