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Latest "Fraud Detection & Prevention" Posts
If you’re on the fence about the merits of fraud protection, just trust me: if it can happen to a Supreme Court Justice, it can happen to you.
At the very least, credit card fraud is more than a nuisance. It’s a major crime, and while the immediate effects may be a block to cash flow, it can strongly impact the way a cardholder is perceived, especially when that person has a reputation to uphold. As with other types of identity crime, many may assume the “sheer number” defense – the idea that there are so many targets out there that no hackers would waste their time on them. But if you’ve got a credit card, you’ve got something to lose. There’s no bounds to who can be hit by such an attack, whether it‘s a barista serving coffee or the member of the U.S. government on the other side of the counter.
Posted in Fraud Detection & Prevention by Identity Theft Speaker John Sileo.
Tags: Fraud Protection, online privacy
Sending unwanted orders to the innocent is an old, online fraud scam that most of us are aware of. But there’s a difference between an unwanted $13 pizza and an unwanted $13,000 purchase.
Online fraud can hit you in some truly surprising ways. Take the alarming case of Ars Technica writer Ken Fisher, who does not live in the UK or own an eBay account, yet received a notice from eBay UK out of the blue, congratulating him for successfully bidding $13,000 for 500 LED lights. In an article describing his experience, Fisher expresses his concern that this could happen, and his further frustration that his attempts to get in touch with tech support proved fruitless. Fisher was unsure of the origin of the message and whether or not it meant he was having online privacy issues. In the end, he just ignored eBay.
Posted in Fraud Detection & Prevention by Identity Theft Speaker John Sileo.
Tags: John Sileo, online fraud expert, online identity, Online identity theft, online privacy issues
Ignoring fraud training as the foundation of your cyber security strategy is like counting on Google to educate your kids. Technology is a critical tool in the fight, but without well educated users, guided by knowledgeable teachers, the tools are a waste of your money.
Thanks to President Obama’s state-of-the-union plug for increased cyber security, the Chinese hacking of the New York Times and Wall Street Journal, and the hacking of a prominent celebrities, America is waking up to the tangible value of virtual data. Awareness is definitely the first step, but it is only the tip of the privacy iceberg. Just as in the age before the internet, the only thing keeping employees from selling secrets or participating in fraudulent activity are the human controls that discourage the practice. But it’s all the more hair-raising to think of the amount of digital secrets an employee has access to at any given time. The new tale of a Reuters journalist gone cyber-rogue adds a chilling wrinkle to the perils of protecting the data that keeps corporate profits ticking.
Posted in Cyber Data Security, Fraud Detection & Prevention by Identity Theft Speaker John Sileo.
Tags: Cyber Security, Fraud Expert, Fraud Prevention, Fraud Training, John Sileo
[youtube http://www.youtube.com/watch?v=hqSWxvsmczI?rel=0]
Check washing is so simple, you must learn to prevent check fraud
Are check fraud and check washing still relevant in the age of digital payments? If you’re like the average person, chances are you don’t write too many checks anymore. With the convenience of online payment options, nearly universal acceptance of credit and debit cards, and the proliferation of ATMs offering you easy access to money at every turn, why resort to the archaic, labor-intensive method of writing a check?
The simple answer—sometimes we have no other choice! Some places still don’t accept credit cards (Costco if you don’t have an American Express), or they charge an extra fee for them. Some retailers don’t offer online payment options. And frankly, sometimes it’s just an old habit and we haven’t made the effort to find a safer option because we’re stuck in the mindset of “it’s never happened to me” when thinking about check fraud.
Posted in Burning Questions (Video), Fraud Detection & Prevention, Identity Theft Prevention, Video Tips by Identity Theft Speaker John Sileo.
Tags: "High security checks", "prevention of identity theft", “How to Prevent Identity Theft”, “Prevent Identity Theft”, Check Fraud, Check Washing, Check Washing Techniques, Chemical check washing, Fraud, identity theft expert, Identity Theft Prevention, John Sileo, Security Checks, Security Pens, Sileo
How to Stop Check Fraud and Check Washing
Check washing, a highly common form of check fraud, is the practice of removing legitimate check information, especially the “Pay To” name and the amount, and replacing it with data beneficial to the criminal (his own name or a larger amount) through chemical or electronic means. One of the many ways to protect yourself against check fraud is so important that it deserves its very own article.
A foolproof way to protect your checks from being altered, whether by washing or by electronic means, is to use security checks offered by most companies.
Here are some of the features to look for when you’re purchasing High Security Checks. These features will safeguard you not only against check washing, but other high tech forms of check fraud as well:
- Safety security paper (visible and invisible fluorescent fibers, chemical-sensitive)
Posted in Fraud Detection & Prevention, Identity Theft Prevention, Product Endorsements by Identity Theft Speaker John Sileo.
Tags: "Identity Theft, "prevention of identity theft", “How to Prevent Identity Theft”, “Prevent Identity Theft”, Check Washing, Chemical check washing, Fraud, Hologram, identity theft expert, Identity Theft Prevention, Identity Theft Speaker, Identity Theft Statistics, John Sileo, Security Check Features, Security Checks, Security Pen, Watermark
Here's a classic criminal chestnut: the phone rings. It's an operator from the government, informing you that you've been selected to receive benefits, if you could just provide some personal information. Sound fishy? It should.
Sadly, phishing through the phone is nothing new, and it's still with us. You would think this sort of thing would have gone out of style with rotary dials and cassette tapes, but scam callers are still out there looking to gut you for your personal info. Recently, the Trojan Horse of choice has been the Affordable Care Act, as fake solicitors have been calling homes and asking if they could send health insurance cards to qualify for the program.
This sort of basic trick might seem to target only the gullible, but don't be so sure. These kinds of calls have become increasingly sophisticated. You may have no idea you were being hoodwinked until your money and reputation suddenly disappear down the drain. Like many things, good fraud detection can begin at home.
Posted in Fraud Detection & Prevention by Identity Theft Speaker John Sileo.
Tags: fraud detection fraud prevention anti-fraud training
Businesses may already be rushing to protect their financial information, but other kinds of personal data are at risk, too. Case in point: medical records.
Big companies with huge profit margins might seem like the most attractive targets for identity theft and fraud. After all, what more direct way to get at your money? But there are other ways an outsider could infiltrate your personal data. Right now, security around healthcare information is a big concern, and fraudsters are lying in wait to pounce on gaps in the system.
Recently, the Montgomery Advertiser reported the story of National Guardsman Zane Purdy, who fell victim to a particularly nasty bit of fraud that cost him his high-paying job. Now he's a waiter making fewer than eight dollars an hour, barely enough to support his wife and two kids. Purdy's story is heartbreaking, and he's only one of the more than 800 people taken advantage of by the same criminal.
Posted in Fraud Detection & Prevention by Identity Theft Speaker John Sileo.
Tags: Fraud Detection, Fraud Prevention, identity theft and fraud
Fraud prevention isn't just about building a wall: It's about making sure you have the right bricks.
During tax season, anyone who sees your pay stubs or tax forms could put them to nefarious use, and could do so without you being aware. As former clients and relatives of one California tax preparer were shocked to find out recently, the stability of their "brick walls" against fraud were filled with weak spots.
Imelda Sanchez of California confessed to using the names and personal data of other people to file fraudulent tax returns. She also used other falsified tax documents to apply for a loan worth more than $1.5 million. Her sentencing is scheduled for May, when she could be slapped with a prison sentence upwards of 30 years or more. As a tax preparer, she was in a unique position to set this plan in motion. Sanchez could also be given a fine around $1.25 million – just a touch under the amount of money she tried to steal.
Posted in Fraud Detection & Prevention by Identity Theft Speaker John Sileo.
Tags: anti-fraud training, Fraud Prevention, types of identity theft
How sure are you that your company’s computers aren’t being used against you for purposes of fraud and identity theft?
Recently, Bloomberg.com reported a case in which Microsoft and the antivirus company Symantec joined forces to take down a massive botnet group. Known as Bamital, this ill-intentioned family of bugs is believed to originate from somewhere in Eastern Europe, and operated by distributing malicious software to unsuspecting computers. Once the targets had been infected, the hackers on the other end could take control of Web browsers and drive them wherever they wanted, re-routing searches and addresses to dubious websites that could infect them further.
According to the article, at least a quarter of a million computers were hit in this most recent attack. Globally, Bamital’s victims are reckoned to number in the millions.
Posted in Fraud Detection & Prevention, Identity Theft Prevention, Online Privacy by Identity Theft Speaker John Sileo.
Tags: Cyber Security, fraud awareness training, Fraud Prevention, online privacy, types of identity theft
