Prevention Summaries & Fraud News
Fraud Frenzy’s educational and FREE news exposes fraud events from all over the world. Building your fraud awareness by reading about these events is one step towards fraud protection. You will find some of the latest fraud summaries in our Fraud News section. We update our database of fraudulent events daily, so be sure to visit regularly!
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Wherever disaster strikes there will be fraudsters eager to take advantage of the situation. Hurricane Florence will be no exception. On Friday, September 14th 2018, North Carolina was devastated by Hurricane Florence. For nearly two weeks, news outlets tracked the tropical cyclone. This provided time for many residents living in its trajectory to follow emergency plans. Despite this, many people were trapped or lost their lives during the disaster. Currently, at least 37 people have lost their lives in the storm. But human casualties aren’t the only losses. Many animals also perished including pets and livestock. Over three million chickens and more than five thousand hogs died. Tens of thousands of people are now displaced in a region with minimal housing options. It is expected that as much as $13 billion in damages will result from the storm. Needless to say, relief aid is necessary and many generous folks will be quick to help. Hurricane Florence donation lines are being publicized. High profile celebrities have begun to chip in as well. Michael Jordan has even already donated $2 million dollars to relief efforts. But be advised that major disasters are prime times for charity scams. Last month, several crooks were sentenced for defrauding London’s Grenfell Tower fire. Fraudsters benefited from free housing, wardrobe, food, and travel allowances. Some of this charity was even used to fund [...]
Everything you should know about whistleblowers, but did not know what to ask. What is the highest and best use (HBU) of a whistleblower? A whistleblower (WB) is a person who reports bad or illegal conduct from within an organization. Most countries have laws to protect WBs. Whistleblowing is a superior tool for fraud and loss prevention, deficiency, and dishonesty. Many such cases have been exposed by workers who reported events to employers, regulators or the press. Especially fraud and child abuse. It is known and generally accepted that more cases of fraud and corruption are exposed by WBs than any other method, even law enforcement or the media. So whistleblowing is a very powerful tool for loss prevention generally. It’s just a matter of using it right for it to be a huge benefit to us all. Savvy employers will use open dialogue in the workplace. They see the value of being aware of mistakes or wrongdoing at an early stage. This creates the chance to fix problems quickly before they fester and get worse. “In business as in life it is never a case of things not going wrong: it all comes down to how to deal with matters when they do go badly”. This is a mark of personal skill and flexibility. So whistleblowing is by far the sharpest and most useful tool [...]
How the latest freemium game craze has created multiple fraud scams within a fraud. “Fortnite Battle Royale is the completely free 100-player PvP mode in Fortnite” trumpets Microsoft marketers. So, if something is “completely free” then one should expect not to pay anything. Assuming this to be true, then how can something pitched as “free” and “free to play” generate as much as $300 million per month? That is the amount that the freemium game “Fortnite” has been making as of January 2018. While there is a paid version, most of its revenue comes from the well touted “free” version. It is currently the number one online video game taking the world by storm. With more than 125 million players, children, teens, adults, and even celebrities have been lured into it. The game’s highly addictive nature has led to it being banned from some schools. Many working professionals have also reported extensive losses of productivity because of this so-called “free” product. In FP101, we learn about the deep psychology behind freemium game addictions and how it works. While the game is heavily defended in the media (maybe because most of their writers are Fornite addicts themselves) people should be aware that these addictions are planned and deliberate. All for profit. Anonymous game developers have explained how targeted and strategic these games are in engaging with their [...]
We have some really fascinating phishing info to show you, but first you need to know what phishing is, how it functions and how to protect yourself from it. Many will already be aware of what phishing is and a small minority will have already acted to tackle this growing issue. Phishing is now a part of your online activities and has be taken very seriously. These crooks are getting smarter and more creative. Too many victims already fall for their tricks and traps, so please share this info with others. A phishing attempt usually starts with an email that looks like a legitimate letter from a company you do business with already... The word phishing now has several different meanings. In simple terms, phishing is an attempt to steal sensitive information such as usernames, credit card information, and passwords. The perpetraitors do this by acting as a trustworthy sender of an email, website, software or another online resource. Smartphone applications are also evolving as a phishing tool. The scammers rely on the huge numbers of the global consumer market. This internet based fraud model is all about the numbers. Contacting millions of people and organizations all at once and probably through illegal data access. They are acting on the simple math calculation at least a small percentage will take the bait. Spear phishing has [...]
How Publisher’s Clearing House (PCH) created a “legitimate” multi billion dollar business out of defrauding the elderly and children.
If you were a child of the 80’s or 90’s living anywhere in the USA then you need no introduction to Publisher’s Clearing House (PCH). You may recall those iconic manilla-envelopes with bold-lettered proclamations about winning cash prizes. Often, their mailers exposed check-like printed paper through a see-through cellophane address window. Maybe you were drawn to their fun-colored, sticker-like magazine subscription stamps. All this could be enough for an innocent young mind to dream of his or her family winning PCH. Is it the same psychology behind the immoral practice of children-targeted marketing by tobacco, fast food, and mobile gaming companies? After all, youth targeting is an accepted part of PCH’s marketing strategy today. PCH has been the subject of many lawsuits for deceptive marketing. This shows the company as another example of mass fraud as a criminal enterprise. It also fits the bill for senior fraud, freemium fraud, and fraud against children. Publisher’s Clearing House is a criminal enterprise because it is mass fraud posing as a legitimate business. As the FP101.net course states, “For a long fraud, they have to play the long game. [Fraudulent businesses] all use corporate fronts with billions of dollars in political lobbying and plenty of brilliant lawyers to create a legitimacy and respectability.” As a billion-dollar business, you can guarantee that PCH is not short of lawyers and lobbyists [...]
September 2018 marked the 10-year anniversary of the Lehman Brothers bank collapse. At the time, was the fourth largest investment bank in America. But it had almost as much debt ($619 billion) as it had in assets ($639 billion). Dubbed, the “Lehman Weekend”, the world witnessed the largest bankruptcy in US history. It led to a huge Recession and a near meltdown of the global economy. In its wake, millions of ignored victims. Everyone remembers the housing market crash of 2008. It was the biggest US economic crisis in nearly 70 years. Like all such man made disasters, the root causes are greed and fraud. It was never investigated as such. It was simply too big a fraud event for that. In the early 2000’s the US housing market was booming. More people were owning homes than ever before due to “subprime mortgages.” A subprime mortgage is a loan given to people with low credit scores and incomes. These are individuals would not normally qualify for standard “prime” loans. Subprime mortgages carry more risk so typically there are unfavorable interest rates attached to these loans. During the housing boom, banks were giving out mortgages left and right with very low requirements. This is because it brought in quick and easy money. Anyone and everyone could get a mortgage. Lots of mortgages meant that banks bundled them [...]
Fraud Reports & Events
Stay at FraudFrenzy.com and follow the latest perpetraitors and scam events all over the world. These are not only ordinary people, but also big companies who are actively involved in fraudulent events and internet scams. We update our news database daily. A well-informed person is a well-protected person. We aim to inform our audience because education is prevention!
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