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One More Risk for Your Portfolio: Financial Fraud

9 snips
Jun 5, 2025
DJ Johnson, Managing Director of Financial Crimes Risk Management at Charles Schwab, discusses the rapidly evolving landscape of financial fraud. He shares how fraudsters are leveraging AI and voice impersonation, making scams like synthetic identity fraud more prevalent. DJ also highlights the increased risk for senior investors and outlines effective strategies to stay protected. Listeners gain valuable insights into proactive measures for fraud prevention and the importance of reporting suspicious activities.
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INSIGHT

Investment Fraud Prevalence and Dark Web Role

  • Investment fraud tops cyber crime losses, with billions lost annually and widespread underreporting.
  • The dark web facilitates fraud through stolen data business models with sophisticated customer service.
INSIGHT

Fraudsters Reuse Old Tactics

  • Fraudsters often reuse tried and tested scams as they remain effective over time.
  • Common scams include romance fraud, government imposters, investment scams, and cryptocurrency scams.
INSIGHT

AI Fuels Sophisticated Fraud

  • Fraudsters exploit AI and voice cloning to create deepfake videos and impersonations.
  • These technologies facilitate scams like investment club fraud and tech support impersonations.
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