Fed Releases Classifier To Help Improve Fraud Reporting
In simpler days, payment fraud used to be pretty straightforward. You had stolen or counterfeit checks and maybe the occasional wired fraud and that was the end of the story. But over time, that changed. More types of payment options became available – ACH, Zelle, Paypal, Venmo, Cash App, and more of those options became […]
Wave Of Unemployment Fraud Sweeps Over US States
Unemployment fraud is trending as the most systemic fraud of the moment. It continues growing each day, even while unemployment rates begin to dip as states end their lockdown. Each day, more and more states are finally discovering and alerting that they have fallen victim to international and domestic scammers. One by one, states are […]
DOJ Is Slamming Identity Thieves in Jail for 2 Years
Did you know that if you get caught speeding in a school zone, you’ll get a double or even triple fine? So if a speeding ticket would normally cost you $100, if you speed in the wrong place it could run you $200 or $300. It’s designed to make you think twice about speeding around […]
Forter Report – $24 Billion A Year in Refund Fraud
Professional Refunders are now exploiting the generous return policies of online merchants like never before and one company is trying to do something about it. Forter, a company that specializes in online fraud detection, has published a study and found that $24 Billion a year is lost to refunding fraud and abuse. I recently wrote […]
National Guard Called To Fight Unemployment Fraud
Washington State is buried in Unemployment Fraud, and their backlog of suspicious cases is growing by the day. So who do they call? The National Guard of course. The state Employment Security Department said it’s bringing in the National Guard to help clear the huge backlog unemployment claims. Specifically, the guardsmen will become Stand-In Fraud […]
Fraudsters Swipe Donald Trumps Black Card
Donald Trump’s invite only American Express Black Card was swiped and posted on the internet by fraudsters last weekend. According to the Credit Shifu, his credit card information was allegedly leaked online by the hacker group Anonymous. They question that claim however after investigating further. I caught wind of the crazy story from Karisse Hendrick , a popular […]
Walmart Executive Charged in Disgraceful PPP Loan Fraud
A project manager employed by a Walmart was charged in a complaint unsealed Wednesday for allegedly filing fraudulent bank loan applications seeking more than $8 million in forgivable Paycheck Protection Loans. Benjamin Hayford, 32, of Centerton, Arkansas was was charged in a federal criminal complaint filed in the Northern District of Oklahoma with wire fraud, […]
FBI Reports On Tidal Wave of COVID19 Fraud Cases in 2020
Calvin Shivers, the Assistant Director of Investigations for the FBI, delivered a shocking report to Congress yesterday – reported fraud could reach the highest level in history due to the pandemic. The Internet Crime Center has already received almost as many fraud reports for 2020 (320,000), as they have for the entirety of 2019 (400,00). […]
2 Men Opened 7,000 Fraud Cards, Earn 790k In Points
Two guys got extra greedy and finally got nabbed for a sophisticated fraud scheme that netted them a total of 7,000 cards and a truckload of reward points. It was a cards for point scheme unlike any other and netted the pair over $8 million in points. Ahron Lev and Timothy Gibson were indicated with […]
Michigan Fraud Blocks 340k Unemployment Claims
In recent news, the state of Michigan has reportedly blocked 340,000 unemployment accounts while it investigates suspected fraud by imposters. A whopping 25% of all claims have been halted so the state can perform additional fraud checks on the identity of the people that have submitted claims. This comes on the heels of many other […]
Washington Unemployment Fraud Balloons to $1 Billion
Senator Ann Rivers was briefed today by ESD officials in Washington State who advised her that the unemployment fraud case involving Nigerian fraud rings was now approaching close to $1 billion dollars. The epic and largest case of unemployment fraud was originally suspected to be closer to $350 million, however, over the past week, it […]
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 […]
Guy Drops BackPack With 1 Million Stolen Identities In It
You can stuff a lot in a backpack these days. But you won’t believe this story. Authorities in Trussville Alabama are on the lookout for a man named Fred Collins Jr. Police officers were issuing a narcotics search warrant for a known drug location, when they spotted Fred Collins engaged in suspicious activity. While ordering […]
Not so fast. State Claws Back $300M From Fraudsters
Washington State has recovered over $300 million in funds that were stolen by fraudsters filing fraudulent unemployment claims. Employment Security Department Commissioner Suzi LeVine said that she could not yet reveal the precise amount that was paid in fraudulent claims, but said that the initial recovery — including $50 million set to be returned Thursday […]
Professional Refunders Are Fraud Hitmen For Hire
If you don’t have the nerve to lie to online merchants about a package you “never received” – don’t worry. Friendly fraud hitmen are standing by to serve you. For a small fee of course. Professional refunders are setting up shop and offering to help you get your money back for orders you placed online, […]