DOJ Launches Transnational Elder Fraud Task Force
The Justice Department is cracking back and people that take advantage of elderly US citizens. I learned of the news from Global Fraud Fighter Maryann Miller. Attorney General William P. Barr today announced the establishment of the Transnational Elder Fraud Strike Force, a joint law enforcement effort that brings together the resources and expertise of […]
SSA Rolls Out Pilot To Curb Synthetic Identity Fraud
If you have been waiting for a silver bullet against synthetic identity fraud, you might be interested to hear that the Social Security Administration is taking big steps to make that happen. The SSA announced an initial enrollment period for the much anticipated electronic Consent Based Social Security Number verification service this week. The SSA […]
BMW Fights The Rise in Straw Borrower Fraud
Soaring vehicle tax rates levied on US car exports in China have created an arbitrage opportunity for fraudsters that can get their hands ahold of luxury cars. Last year China slapped an additional 25% tariff on imports making luxury cars very, very expensive. And the fraudsters have moved into Canada to take advantage of this […]
Fraud Investigator Shares Experiences with Elder Abuse
Fraud Investigators often have unique insights into what happens behind the scenes and banks and lenders. Unlike the general public, they get to see first hand the impacts of fraud and scams on consumers. And nowhere is that impact greater than when it is perpetrated on the elderly. This is a guest post. The investigator […]
Synthetic Fraudsters Go On Buying Spree for 90 Cars
Arsenio Stanley Pierre and Marcus Darren Ginyard decided to go on a shopping spree for cars after creating synthetic identities that they thought were foolproof. They tried to carry out an extravagant scheme using fraudulent social security numbers, drivers licenses and employer information. In all, they successfully financed 37 cars and attempted 90 thefts in […]
Behind The Scenes Footage of A Fraudulent Call Center
Do you want to see behind the scenes of a scam call center? Check out this video if you want to get unprecedented access to what it’s like in a scam call center! This is pretty incredible. You get a step by step view into what these scammers are doing.
Why Consumers Need Fraud Experts To Help Them
Banking customers accounts are hacked or compromised all the time. That includes their credit cards, debit cards, and even online banking. Fraudsters can drain those accounts in a matter of a few minutes, often while the customer is sleeping or completely unaware of what is happening. When the customer gets their monthly statement, they are […]
CPN Fraud Lands an Oklahoma Man In Jail
I often hear from people that using a CPN to apply for credit is completely legal. But they are wrong. You can ask DEMARR FANNELL GREER of Edmond, Oklahoma, who was just sentenced to 24 months in prison for fraudulent use of a Social Security Number. He thought he found an easy way to get a […]
Car2Go Fraud Fiasco – Benz, Benz, Benz!
Car2Go halted service in Chicago this week when over 100 of their 400 cars in the city were “stolen by deceptive and fraudulent means”. That’s 25% of their total available pool of cars. The thieves weren’t interested in just any cars available on Car2Go. No, they targeted the more valuable Mercedes Benz and police report […]
Facial Recognition is Being Used to Fight Auto Loan Fraud
Is facial recognition the answer to the growing problem of Auto Lending Fraud? The largest bank in Brazil – Itau Unibanco – believes that it is and they have just launched a solution designed to drastically reduce their fraud losses. The new solution, which is being launched this month across over 10,000 locations, is aimed […]
TSB is First Bank to Give Customers Fraud Guarantee
TSB has 5.2 Million customers and they are all now covered under a newly announced “Fraud Guarantee Program”. This makes TSB the first bank in the UK to announce a program to protect customers from scams by refunding their money when they fall victim to them. UK Finance shows £354 million was lost last year […]
GE Stunned with $1.5 Billion Dollar Fine for Fraud
General Electric was ordered to pay a fine of $1.5 billion fine over the lending activities of their shuttered subprime lending unit, WMC Mortgage. WMC Mortgage was acquired by GE at the height of the mortgage market bubble in 2005. Between 2005 and 2007, WMC Mortgage volumes soared to over $65 billion in originations and a toxic […]
Digital Identity Fraud Is A Real Problem For Us Now
Online payment fraud will reach $43 billion annually by 2023. An astounding number, considering that just 20 years ago total payment fraud was less than $2 billion each year. To counter this dramatic rise in fraud, online retailers, banks and finance companies have been increasingly relying on using digital identities to help create a frictionless experience […]
Fraudster Steals 178 Identities and Heists PenFed for $1M
A press release was filed by the District Attorney of Brooklyn to announce a massive fraud case perpetrated against Pen Fed which originally appeared here – Press Release. Brooklyn District Attorney Eric Gonzalez, together with Special Agent in Charge of the U.S. Secret Service New York Field Office David E. Beach, today announced that a […]
The World’s Greatest Counterfeiter of All Time
The art of making money as described by the greatest counterfeiter of all time. Frank Bourassa, printed $250 million in fake US currency until he was caught by an undercover cop in 2012. And yet he hardly served any jail time. In this episode, Bourassa reveals his process, and the aftermath of his arrest.
Meet the Romance Fraud Scammers from Nigeria
Meet the scammers breaking hearts and stealing billions online. Watch this video where you can see behind the scenes how these teenage men are duping victims in romance scams.
SelfMade Kash Bragged He Was the Goat of Card Fraud
Jonathan Woods is a Detroit-based rapper who goes by the stage name Selfmade Kash. But the way he made he made his cash is anything but self-made. You see, SelfMade Kash, who often sported a Golden Credit Card Medallion around his neck, claimed to be SwipeGoat – the greatest swiper of all time. His ability […]
Credit Repair Fraud Ring Busted – Stole 500 Identities
Five people, including a Brooklyn man who ran a credit repair business and a former football player associated with the New York Giants, were arrested in connection to an alleged identity theft ring that attempted to steal more than $1,000,000. The group allegedly stole as many as 500 identities to apply for fraudulent loans — […]
Fraud Scam Targets People With Low Interest Rate Offers
Canadians and Americans are increasingly being targeted by phone scammers promising low-interest rate offers but the calls are often originating from Pakistan and the scammers are just looking for money.
Fraud at Verizon Affects 7,000 Customers Monthly
Verizon is pleading with the FCC to approve new controls that will help them stop the rash of identity theft against their customers. Verizon reports that new subscriber fraud has gotten so out of hand that they need to change regulations to help them stop the spike in losses. In a statement by Ronan Dunne […]
Fraudsters Find Instamules On Social Media
Fraudsters and scammers have found a perfect place to locate people willing to make a quick buck – Instagram. Using Instagram, scammers finding unwitting young people who are lured in by their promise of quick and easy money. Check out this recent report by SkyNews on how Instamules are becoming a real thing.