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 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 [...]
Mass fraud by banks and financial institutions continues unabated without hard prison time for the guilty parties. “Deutsche Bank settles for $205 million in currency manipulation scheme.” “Goldman Sachs confesses to c.$5 billion in mortgage fraud during the 2008 financial crisis.” “Wells Fargo settles securities fraud lawsuit for $480 million.” “Bank of America to pay $42 million in electronic trade ‘masking” case’.” These kind of headlines are daily events and it appears all our major banking institutions have engaged in a for profit mass fraud enterprise at some point - and continue to do so. It’s all there in your news feed. Here’s two big questions. How can big banks consistently plead guilty to mass fraud crimes and yet never see executives sent to prison? How can they keep paying these multi billion dollar fines and still be in business? During a rally in 2011, US presidential candidate Mitt Romney famously said, “Corporations are people, my friend.” It was his response to protestors calling for corporations to be taxed. He argued that corporate employees are taxed based on the their earnings. To him, that counts as the corporations being treated like people. Corporations claim their “personhood” status usually when they’re trying to wriggle their way out of paying for something. It’s a tactic that dates back to the 1800’s. Back then, a railroad company went so [...]
What is E-Commerce Fraud? E-Commerce fraud is when someone steals personal payment information on the Internet. One example is credit card information theft. Most of this type of fraud has been mainly happening online and incidents like these are growing every year. The table below from Statista shows how many billions of U.S. dollars are expected to be lost in the United States by credit card fraud from 2012 to 2018. The blue area displays CNP data which stands for “card not present.” This means a payment or purchase was made without having the actual card in your hand. Most of these situations occur online where credit card data is saved on websites. When someone uses a credit card at a store in person, they are usually asked to show identification such as a driver’s license or state ID. Verifying identity online is a lot harder than in person. As long as someone has the card information, they can use that card without proving the identity. Most websites have security questions, however, if someone has stolen your info, they might easily know the answers to those questions. This is why CNP crimes are easier for criminals and why they continue to grow each year. By comparing the CNP data from 2012 with that of 2018, you will see that dollar loss is expected to grow from 2.6 [...]
“It’s a real story riven with fraud scams, fake news, and an enduring false narrative”. According to the latest US Customs and Border Protection (CBP) reports, immigrants/refugees crossing into the USA are now at an all-time high level. In the month of May 2019, 144,278 refugees, including children, were arrested and detained. This data was provided by Border Patrol and Border Protection and was declared as a historic off the chart figure. It is morally impossible for any mindful person to ignore the ongoing tragedy on the US - Mexico border. People migrate for various reasons but mostly to find a better life, and migration has been around since before there were any borders. For the first few hundred years, it has been mostly positive as the US embraced the diversity of people who became the most powerful vision and the driving brand of this young nation. With the rise of the military and industrial complex and personal wealth, random xenophobia combined with isolationist policies caused friction within the country, especially at the borders. Mass migration always comes with the high risk of becoming a deadly humanitarian crisis riven with fraud scams, fake news, and an enduring false narrative. The US is known to welcome immigrants with open arms. However, when people enter illegally and some with a criminal agenda, the country has to toughen up [...]
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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