June 2024

Weather Forecast: Sunny with a Chance of Fraud 🌞

Fraudsters don't take summer vacations. From social media to road tolls, fraud infiltrates all aspects of our lives. Prepare for your summer vacation by learning the newest fraud trends. 

The Fraud Bulletin is a bimonthly newsletter that shares the latest news, resources, and expert insights on both fraud trends and the technology that is fighting fraudsters on the front line. 

Can Romance Scam Victims Get Their Money Back?

Takeaway: Starting October 7, 2024, a new rule mandates that banks in the UK repay fraud victims up to €415,000.

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The Must-know Social Media Scamming Statistics 2024

Takeaway: Scammers utilize social media platforms as leverage to defraud people. Uncover some eye-opening facts about how these scams operate. 

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Card Testing Fraud: A Digital Peril

Takeaway: Fraudsters are using a method called "card testing" or "carding" to determine the validity of stolen or generated payment credentials on digital platforms.

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How Facial Recognition Technology is Transforming Travel Efficiency and Security 

Takeaway: Technology is transforming how travelers pass through airports as biometrics, including facial recognition, are becoming more common.

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FBI Warns About Text Scam Targeting Drivers: 'These are sophisticated scams'

Takeaway: The FBI and Identity Theft Resource Center say reports of toll road scams are rapidly on the rise and may be moving from state to state. 

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Safeguarding the Retail Industry from Synthetic ID Fraud

Synthetic identity fraud has skyrocketed in retail and ecommerce.  To combat this escalating threat, retailers must adopt proactive measures aimed at detection and prevention. Blair Cohen talks challenges and solutions for synthetic identity fraud. 
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Leveraging Identity: The First Line of Cyber Defense Strategy

By prioritizing an identity-first approach, organizations can identify and address potential security threats before they escalate, minimizing the impact of cyberattacks. AuthenticID's Chief Digital Officer Chris Borkenhagen discusses how taking proactive measures to verify identities is essential and contributes to a more robust risk management framework. 
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Want additional security with less friction than traditional username/password and even two-factor authentication systems?  Learn more about how reauthentication can help your organization reduce the risk of compromised accounts or data breaches with a system that doesn’t rely on passwords.