February may be the shortest month, but both fraudsters and the government were in full swing. As Phil's shadow predicted, we have more winter ahead, so stay warm and informed with the latest fraud-fighting updates.
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.
No More Consumer Protection? What the CFPB Shutdown Means for You
Takeaway: New President Donald Trump fired CFPB director Rohit Chopra and installed an acting director, Russell Vought, who ordered the agency to halt its work and shut its doors.
'Dating or Defrauding?' A Joint Effort to Alert Online Daters, Social Media Users of Relationship Investment Scams
Takeaway: Over the coming weeks, the interagency 'Dating or Defrauding?' social media awareness campaign will warn Americans to be skeptical of any requests from online friends for cryptocurrency, gift cards, wire transfers, or other forms of payment.
Fake IDs Getting Sophisticated as Buyers Shell Out in Crypto
Takeaway: The new breed of fake IDs are more sophisticated. They sport holograms, barcodes and laser engraving that can apparently pass the electronic scanners bar owners use. The makers of these more advanced fake IDs also take payment in a very modern form: cryptocurrency.
Georgia Sec. Of State Asks Lawmakers for New Powers to Help Victims Get Money from Financial Fraud
Takeaway: Under current Georgia law, the office is barred from returning any of the money they recoup from cases like this and giving it to the victims. The Secretary of State is advocating changing this.
Huge Healthcare Data Breach Exposes Over 1 Million Americans’ Sensitive Information
Takeaway: Community Health Center, Inc. (CHC), a Connecticut-based federally qualified health center, has disclosed a data breach following a criminal cyberattack on its systems.
The Ghost Student Epidemic: Why the Education Sector Needs Next-Gen Tools
In recent years, higher education institutions have faced a growing fraud challenge: the “ghost student” epidemic. The trend is alarming, worrying education leaders about its potential impacts regarding institutional reputation, academic integrity, enrollment management, financial aid distribution, and more. Understanding this form of identity fraud is crucial to safeguarding resources. Continue reading ...
Velocity Check: How Can you Leverage Them for Fraud Prevention?
In the endless pursuit to detect and prevent fraud with better accuracy and precision, online merchants must employ a multi-pronged approach to help distinguish between a legitimate customer action and those initiated by bad actors. One such mechanism is velocity checks, which allow online sellers to monitor transaction patterns, account sign-ups, and login activity for suspicious behaviors. Continue reading ...
Combining external business and consumer surveys with internal proprietary data anonymized and analyzed from our platform, the report provides a pulse check for business and consumer identity fraud and identity verification sentiments as well as a look ahead at the threats and technology that will make a big impact in the coming year.
