Category Archive: Fraud

How Fraudsters Stole Money from Venmo Users

April 10, 2018

In yet another example of the creativity of fraudsters exploiting security flaws in commonly used services, the Federal Trade Commission recently announced a settlement with Venmo, the popular money exchange service. The charges, filed in 2016, include some surprisingly basic security flaws in Venmo, which boasts of “bank-grade security”. One major problem was found in […]

City of Atlanta Victimized by Ransomware

April 4, 2018

Imagine walking in to work and being handed a printed out note instructing you to not turn on your computer because of a ransomware attack. Then imagine that you are instructed to monitor your personal bank accounts because your employer is unsure exactly what information has been compromised. For city employees in Atlanta, they don’t […]

Ambulette Fraud

March 28, 2018

“Ambulette” is a term to describe the vans and cars that transport Medicaid patients to non-emergency appointments. Despite the presence of ambulettes, millions of Americans continue to miss medical appointments each year because of transportation problems. One possible answer to this problem? Rideshare companies like Uber and Lyft who sign agreements with hospitals and medical […]

A New Way to Rip Off the Taxpayer

February 23, 2018

I often mention how “impressed” I am by the ingenuity of fraudsters and their ability to find new and creative ways to steal money. And now, with the country starting to pay attention to the opioid crisis, comes word of one of these fraud innovations. This time, fraud (and to be fair, often just massive […]

Jackpotting Comes to the U.S.

We’ve written several times about skimmers, devices that thieves place into gas pumps, ATMs, and other machines to steal personal and financial information from unsuspecting patrons. Now, it seems that a form of skimming, called “jackpotting” is making its way from Europe and Asia to the states. The aptly named jackpotting, like skimming, uses a […]

Nigerian Email Fraud

January 18, 2018

In December, a 67-year-old Louisiana man was charged with 269 counts of money laundering for serving as a middle man in a Nigerian Internet scam. These scams, which everyone with an email account has encountered, promise large sums of money from inheritance or from a “prince” trying to leave the country in exchange for your […]

Skimmer Fraud

January 8, 2018

I read with great interest a recent article about card skimmers that were found at “The Stop and Shop” gas station where I often fill up my tank. While they were discovered relatively quickly, more than a dozen customers were scammed. Several of them had their entire bank accounts wiped out. Skimmers, for those of […]

The Booming Armored Car Industry

November 22, 2017

At a time when people are replacing credit cards and ATMs with their smart phones, it seems that California is recommending increased use of armored cars. The reason? On January 1st, recreational marijuana will be legal in California but still illegal at the federal level requiring marijuana business to pay their sales taxes in cash. […]

Student Loan Fraud

November 16, 2017

Anyone who has recently attended college or has a family member in college likely has some familiarity with student loans. In fact, 40 million Americans currently have student loans totaling an astounding $1.2 trillion dollars. Many of those who have applied for loans have been victimized by methods such as “advanced fee scams” that promise […]

Ebola Relief Fraud

November 13, 2017

As a country, we have become accustomed to reading stories about fraud in healthcare, financial services, and government programs. It doesn’t make it right, but it’s certainly not new. Now though, news comes from the American Red Cross that $5 million of Ebola relief funds were fraudulently disbursed on overpriced supplies, fake customs bills, and […]