We Found 120 Fake Walmart Stores Trying to Steal Your Credit Card
Stefan Dasic, Malwarebytes
Shoppers browsing on their phones are landing on convincing Walmart lookalike sites offering name-brand liquor at 40% to 70% off, only to be led straight to a checkout page asking for a full credit card number, expiry date, and CVV.
The sites have no connection to Walmart. They’re part of a network of more than 120 near-identical domains built to look like a legitimate retailer just long enough to steal your card details…
Read MoreHow a $10M Check-Fraud Ring in Bronx Exploited the Homeless
Carter Pape, American Banker
In a survey, just over half of banks and credit unions said they or peers in their markets had seen money mule accounts get opened in a branch over the past 12 months.
The results suggest mule accounts open in-branch more often than online or via mobile channels. The scheme relied not on stolen checks but a person who could pass a branch’s identity check, and the ring sourced that by recruiting homeless people and people with substance abuse problems…
Read More
Why Experts Say This Moment Is Ripe for Student Loan Scams
Hannah Grabenstein, PBS News
Experts are warning of a fresh uptick in student loan scams right now, as fraudsters seek to prey on borrowers’ fears of skyrocketing payments.
While student loan fraud isn’t new, scam attempts have climbed this year, said Jason Williams, assistant inspector general for investigations at the Education Department’s Office of Inspector General. Complaints to the OIG’s hotline, where people can report fraud, among other legal violations relating to the department’s funds or programs have spiked this year, he said…
Read MoreIf AI Changes Identity Fraud Every Month, How Does the Industry Know What Actually Works?
Ashok Singal, Biometric Update
Imagine this scenario. In January, an identity verification solution successfully completed an independent evaluation against the industry’s latest standards.
The vendor announces the achievement, customers gain confidence and procurement teams add another checkmark to their selection process. In February, someone discovered a new AI-generated document attack. In March, another organization identified a novel biometric injection attack. In April, a new open-source AI model dramatically improved the quality of deepfakes. By June, fraudsters have automated many of these techniques…
Read More