He may be overjoyed, terrified, or a combination of the two. For the woman looking to commitpaternity fraud, she is hoping that he is filled with the overwhelming sense of responsibility to do the right thing. Paternity fraud occurs when a woman intentionally names a man to be the father ...
According to the FBI, "identity theft occurs when someone unlawfully obtains another's personal information and uses it to commit theft or fraud." The type of personal information could be anything from general data, like your name or address, to more specific data like hospital records, tax r...
Firms must ensure customers are protected from exploitation by fraudsters and that fraudsters do not open and use their accounts to perpetrate fraud. This latter scenario can cross into anti-money laundering (AML), as the two can easily overlap when the fraudster is the account owner. Policies ...
What can sellers do in advance to protect themselves? It is unlikely to reduce fraudulent returns to zero entirely, but there are ways you can reduce that volume and defend yourself when fraud occurs. Here are a few things to consider: Have evidence of what items have been sent out and re...
If you’re not sure where to start, abouthalf of all reported fraudoccurs in four departments: Operations (15%) Accounting (12%) Executives or upper management (11%) Sales (11%) Risk assessments should beconducted periodically, especially for high-risk areas, when new products roll out, or...
VIP impersonation.This type of attack occurs when a malicious actor sends an email to an unsuspecting victim, using a compromised email of a legitimate company, individual or VIP, asking for payment or funds transfer. External payment fraud.An email attack is sent to an unsuspecting victim impers...
When your credit or debit card info is found to have been leaked, the immediate concern is that thieves could go on a shopping spree using your card. In most cases a compromised card will need to be canceled and replaced.
In this guide, we’ll explain how account takeover fraud happens and what you can you do to protect your online accounts from hackers and scammers. What is Account Takeover Fraud (ATO)? Account takeover fraud occurs when criminals successfully gain access to your online accounts. ...
Tax fraud occurs when an individual or business entity willfully and intentionally falsifies information on a tax return to limit tax liability.
When card-not-present fraud occurs, the merchant bears the loss. This type of fraud can have a significant impact on the merchant’sbottom line, especially for retail establishments, which tend to have smaller profit margins. By contrast, in card-present fraud, the credit card issuer usually ...