Holy Fraud! Fake Priest Prey On Victims For $28 Million
Holy Fraud, batman! ? Three individuals masquerading as men of the cloth and financial consultants operated a Ponzi scheme, amassing nearly $28 million until substantial overdrafts in their bank accounts exposed their deception. They claimed to be holy men and pastors that were only interested in “helping people,” but in reality they were only interested […]
Podcast -What Is Tech-Infused Social Engineering?
I was a guest on Ayelet Biger-Levin’s Scam Ranger Podcast to discuss the use of technology in combination with social engineering tactics to execute online scams, including bots, voice imitation, and deep fakes. This is a growing problem, and I believe where scams are headed – particularly as accessible Ai begins to proliferate. I recommend […]
Industry Vet Launches Silver Bullet “Fraudinator”
Karisse Hendrick, the host of the Fraudology Podcast, has done it. She has been working on a new stealth company for years and finally launched it today – April 1st, 2023. The company is called SilverBullet, and their first product is called “Fraudinator” For Immediate Release Silver Bullet is thrilled to announce the launch of […]
Bots Unleashed Identity Fraud Attacks After SVB Failure
Fraud follows chaos. And the Silicon Valley Bank (SVB) implosion kicked off a wave of identity fraud attacks. Mike Cook, posted a research blog that found close to a 500% increase in third-party identity fraud attempts against small business banks on March 10th – just days before SVB was shuttered. Read the blog here – […]
Fraud Model Flashes Highest Risk Of Fraud In 40 Years
A fraud prediction model designed to track corporate manipulation of earnings is flashing red hot. A report today by the Wall Street Journal finds that manipulation of earnings from Corporate America is on the rise – flashing higher risk than at any time in the last 40 years. The fraud prediction index uses the same […]
Bombshell Report- Cash App Accused Of Massive Fraud
Fraud experts have always known that Cash App was a haven for fraud and scams but a new damning report also suggests that owners of the parent company – Block – may be profiting enormously off that fraud. Hindenburg Research released a searing report today where former employees of Block claim that 40%-75% of accounts […]
Raise Your Hand ? If You Did This For Your First Fraud Job
It was my first day at the new job. ?♂️ My manager pointed to a cubicle and said that’s where you’re going to sit. The desk had a phone and an old computer. ☎️ Tess – my co-worker and very first fraud trainer, dropped a stack of paper ? on my desk and said, “Time […]
A Storm Of Silicon Valley Bank Scams Emerge
Where there is chaos, there is fraud. The Internet Storm Center reported that scammers are having a field day with Silicon Valley Bank customers this week. The first clue came when a massive race to secure “SVB” related websites as the bank’s woes began. The report is quick to call out that “Not all of […]
How To Foil A Scheming Fraudster For $2
Why is a pen company on the front lines of fraud? Mail thieves are ripping off consumers across the US by altering their checks. And the banks are not always returning their money. 7 On Your Side out of New York posted this interesting video highlighting the stories of two consumers who had to fight […]
FTC Calls Social Media A “GoldMine For Scammers”
The FTC believes that Social Media has been a goldmine for scammers, and now they are taking action. In a sweeping order issued this week, the FTC requested information on how these companies scrutinize and restrict paid commercial advertising that is deceptive or exposes consumers to fraudulent healthcare products, financial scams, counterfeit and fake goods, […]
Texas Mailed Chinese Crime Ring 3,000 Real Id Cards
This week, a large organized identity theft scheme was uncovered against the State of Texas by a Chinese Crime gang operating out of New York. The Texas Department of Public Safety (DPS) revealed that the Chinese criminal organization specifically targeted Asian Texans on its driver’s license website and got them to send 3,000 ID’s out […]
Poor Man First Class Fraud Hack Sets Internet Afire
A new life hack is making the rounds on Tik Tok, and airlines aren’t happy about it. The Tik Tok influencer “NDAInternet” has 800,000 followers and he has the internet in an uproar with his hack. It’s called Poor Man’s First Class. And while it sounds like a genius way to get a whole row […]
Man Says Chase Ruined His Life With Friendly Fraud
What happens when a bank gets a fraud report wrong? One man claims it literally ruined his life. It’s a case of “Friendly Fraud” but with a very interesting twist. He Called Chase To Report His Card Lost, He Got $14,000 In Credits Instead Reddit user, ApartmentNo3272 claims that Chase Bank “legitimately ruined his life” […]
Santos Accused of Running A Card Skimming Operation
On April 27, 2017, in the early evening, a security officer from Chase Bank in Seattle observed a man through an ATM’s camera as he approached and took off a card-skimming device After a few moments, police officers took action and arrested Gustavo Ribeiro Trelha, who was an Orlando, Florida resident at the time. This […]
It Was Her Voice -Man Was Victim Of Voice Cloning Scam
“It was her voice”, claimed John Bridges, “And then she passed the phone to a scammer who advised that he would never see his daughter again” He was in his Pearland home when his phone rang. He answered, and someone on the other end of the line was crying. It was his daughter Brittany, and […]
Hy-Vee Suspends Employee Discounts After Fraud Found
Why can’t we have nice things? Well, because sometimes a few bad apples spoil the bunch. Last week, Iowa-based grocery giant Hy-Vee suspended its 10% employee discount program after experiencing wide-ranging abuse and potential fraud. Since 2019, Hy-Vee, located in West Des Moines, has offered its employees and one member of their household a 10% […]
Fraud Claims Specialist Accused Of Internal Fraud
Every week a new internal fraud case is reported. It certainly seems like a growing trend. This week, however, we have a twist – one of our very own is being accused of participating in an account takeover scheme to defraud bank customers. This week, Chimere Shanta Mitchell, a Fraud and Claims Operations Specialist at […]
8 Risk Factors That Can Predict Identity Theft
I enjoy working on different types of fraud models with data scientist. Analyzing data and patterns and then building models that can detect things like Card Fraud, Mortgage Fraud, First Party Fraud, Check Fraud, Auto Fraud and Payment Fraud. To create models you first have to analyze lots of data and find “risk factors” or […]
Lawyer Lived Lavish In Las Vegas On $10M In Liar Loans
A Los Angeles lawyer, Sara King, is being sued for allegedly blowing through $10.2 million in company funds which were tied to fake loans she fabricated. She is accused of falsifying millions of dollars worth of loans from LDR International Limited of the British Virgin Islands, according to a lawsuit filed on Feb. 11 in […]
Up To 5 Million Synthetics Lurking in Bank Accounts
Socure made an interesting announcement this week, vowing to take a bite out of the “explosive uptick” in synthetic identity sweeping across US banks. The company committed to eliminating 100,000 synthetics from the system this year and then eliminating all synthetic identities by 2026. They plan to do it by partnering with government agencies and […]
ChatGPT Dumbly Tells Me About Pig Butchering Scams
Is ChatGPT that smart? I mean really. I asked ChatGPT to tell me about Pig Butchering Scams and this is the brilliant explanation I got. ChatGPT, tell me about Pig Butchering Scams? Pig butchering scams are a type of fraud where scammers sell consumers a live pig, claiming that it will be butchered and processed […]