Fraud News: Start-up Fails b/c of Fake Accounts, Covid Fraud 2.0 & Modern Slavery for Cybercrime

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In this episode of Fraudology, host Karisse Hendrick dives into 3 fraud-related news stories & talks about how each of these events or issues will impact the fraud prevention industry, and what can be learned from them.

1. 2,700 People That Were Tricked Into Working for a CyberCrime Syndicate Were Rescued in the Philippines https://apnews.com/article/philippines-cybercrime-raids-china-indonesia-malaysia-vietnam-de16f11954700ffd432377267f571892?
2. Unicorn Social Media App Shutdown After Admitting That Over 95% of Its Users were Fake https://techcrunch.com/2023/06/26/irl-shut-down-fake-users/#:~:text=An%20internal%20investigation%20by%20IRL's,capital%2C%20IRL%20is%20shutting%20down.
3. Scammers & Fraudsters Are Targeting Covid Relief Funds Still Available from the US Government, but the gov't won't be the only victims in the end:

https://frankonfraud.com/fraud-trends/covid-fraud-2-0-this-is- the-new-fraud-money-grab/



Other resources also mentioned in this episode:

The Knoble: A non-profit focused on combining fraud-fighters & their tools to combat human trafficking & modern slavery: www.TheKnoble.com

Reports on HTMS (Human Trafficking/Modern Slavery) being used to commit cybercrime:

Pro Publica: https://www.propublica.org/article/human-traffickers-force-victims-into-cyberscamming

Blog article by analysts at Nefture: https://medium.com/nefture/cyber-slavery-a-multi-billion-crypto-scam-industry-the-chinese-mob-1e8cbe6566ff

Fraudology is hosted by Karisse Hendrick, a fraud fighter with decades of experience advising hundreds of the biggest ecommerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line.

Connect with her on LinkedIn

She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.