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. […]
Insta Bragging Influencer Gets Nabbed For PPP Fraud
Why are PPP fraudsters so dumb? Like Danielle Miller, an “influencer”, who used her Instagram account to flaunt her newfound wealth which actually came in the form of fraudulent loans. The trend of defrauding and scamming people, and then posting on Instagram appears to be the hottest trend of the year. Danielle Miller allegedly accessed […]
PPP Detective Crowdsources PPP Fraud Detection
In July of 2020, the SBA publically released details about loan recipients for both PPP and EIDL loans. Since then, internet sleuths and fraud fighters have been pouring through the data trying to figure out which fake companies might have taken loans. Now Available – Crowd Sourced Fraud Detection To Root Out PPP Fraud One […]
2,000 Identities Stolen For RideShare Fraud Scheme
Identity theft is alive and well. This week, Nineteen Brazilian nationals operating out of Massachusetts have been charged via criminal complaints with engaging in a nationwide conspiracy to set up fraudulent driver accounts with multiple rideshare and delivery service companies using stolen identities. The fake rideshare driving accounts were then rented or sold to drivers […]
Drivers Are Pissed Off About Instacart Refund Fraud
Instacart shoppers and drivers are pissed off at Instacart for not stopping friendly fraud. In particular, they are upset about Refund Fraud. Shoppers are being deactivated because consumers are fraudulently claiming that they have never received their food. And the same consumers are doing it over and over again, with Instacart allegedly doing nothing to […]
Is Womply Is Getting Whomped With PPP Fraud?
I was browsing Telegram last night looking for chatter on fraud, and I noticed something strange. Scammers were posting a flurry of messages about “Womply” PPP loans and how easy it was for them to scam the service and get fraudulent loans. It wasn’t a few messages about Womply, it was thousands and thousands of […]
Massive Fraud Spike in Vermont Forces Shut Down
A massive spike in unemployment fraud claims in Vermont has forced the state to officially shut down their online claim system. The state says the move announced late Friday is because more than 90% of claims being filed are fraudulent. The site was immediately shut down after this press release was issued, and this was […]
EDD Fraud Money Is Fueling Trafficking and Crimes
Not shockingly, the $30 Billion in California’s unemployment fraud is being funneled into crime rings and being used for a variety of other crimes. Police have confirmed that the money being stolen from California’s EDD agency is fueling a massive increase of money into gangs who are using the money for other crimes such as […]
Synthetic Identity’s New Shell Game – Fake Tradelines
There’s a new game in town for synthetic fraudsters and unscrupulous credit repair companies – fake tradelines. And they might be using shell companies to perpetrate the devilish new scheme. Those fake tradelines are being used to artificially inflate the credit scores of people that are using them so they can bypass lenders credit and […]
New Law Targets Synthetic ID Fraud in Oklahoma
A new bill was signed into law in Oklahoma which will lead to harsher penalties for fraudsters that use children’s social security numbers. The bill aims to fight the rising level of synthetic fraudsters that are victimizing children by using their social security numbers. A study in 2018 conducted by Javelin, found that 1 million […]
Man on The Run After Giant Auto Loan Fraud Across States
Houston Police say they are building a giant case against 61 year old Jorge Lamarche who is accused of buying a large fleet of cars using 9 different aliases and fraudulent identities. Lamarche is currently on the run and was last seen at dealerships in Houston purchasing cars with stolen identities. Sargent Darren Schlosser Spearheading […]
Phantom Auto Loan Fraud Scam Targets Credit Unions
There are real ghosts haunting auto lenders loan portfolios, and they are causing substantial portfolio losses when they are not exposed. The spirits I am talking about are loans without any substance or truth behind them. The buyer, the seller, the car, and often the dealer information is completely fabricated and the lender is fooled […]
What is Digital Identity and Why Should You Care?
In the last 5 years, “Digital Identity” has become the hottest trend in fraud management. With billions in investment and acquisitions in the space, understanding the what a digital identity and why it is important to fraud fighters. Eric Haller, the Executive Vice President of Experian, does a brilliant job of explaining what a “Digital […]
Woman Charged For VHS Tape Rented 21 Years Ago
A woman was charged with Felony Embezzlement for not returning a VHS Tape – Sabrina The Teenage Witch over 21 years ago. What’s worse, is that she doesn’t even remember renting the movie at all. She believes her boyfriend at the time who had two young daughters rented the tape in her name. “He had […]
Luxury Dealer Investigated by Police, DMV and Youtuber
They sell high end luxury cars to the rich and famous in California, but things seemed to have soured for the once reputable dealer in recent months according to youtube videos and announcements by news media sources. Police and the DMV confirmed that they are investigating a luxury car dealer – CNC Motors in Upland […]
Brett Johnson Sounds Off on Unemployment Fraud
Brett Johnson doesn’t mince words and he shoots straight when it comes to his opinions on the state of fraud. You see, it’s his unique perspective to the anti-fraud industry having been placed on the United States Most Wanted List, convicted of 39 felonies, and sentenced to 7 1/2 years in federal prison. He understands […]
Is There Systematic Fraud In Commercial Real Estate?
A Wall Street Whistleblower is raising the red flag on commercial real estate fraud. Are we headed for another financial calamity? If you remember the last great financial crisis, it was dodgy mortgages loaned against wildly inflated property values that sent the economy into a tailspin. Fast forward 11 years later and it just might […]
What Do You Do When An ID Thief Won’t Leave You Alone?
Identity theft can be a living hell these days. With social engineering and sim swapping now an integral part of every scammers tool kit, it can be impossible to stop a determined identity thief from draining every cent of your money and leaving you out in the cold. Help! Someone Stole My Identity And They […]
Ladies Pass Fake $1 Million Dollar Bill At Dollar Store
In today’s dumb news, two ladies were apprehended trying to use a fake $1 million dollar bill to pay for a few items at the Dollar General Store in Maryville Tennessee. According to the Blount County Sheriff’s Office, deputies responded to reports of two women that were attempting to pass the fake bill to purchase […]