Check-Deposit Fraud
The check was changed by the depositor
What is an Altered Check
Wow I got this urgent text from my CU saying there was fraud occurring on my account and to click a link to stop it!
What is SMS phishing
You get an unexpected text with links from "law enforcement" requesting funds to settle civil matters
What is an Impersonation Scam
Fonts on the loan app supporting documents don't align or appear different
What is Altered Docs
Former NASDAQ Chair swindled trusted investors out of approx $65B
Who is Bernie Madoff
Something is off between the signor and the endorsement on the check
What is Forged Endorsement
I was at work and all of a sudden a call came on screen from my CU, it's unusual they would call me so I answered and they told me card fraud was happening and that I would get a text code which I needed to share ASAP to stop the fraud
What is call spoofing
You are befriended online by someone who appears to know a lot about you and wants to build a relationship, eventually they start asking for money
What is a Romance Scam
The stated income does not reasonably match the listed occupation and W2 info provided does not align
What is fake Proof of Income (POI)
Orchestrator of the infamous Fyre Festival which bilked investors and vendors out of millions and failed to deliver on the event
Who is Billy McFarland
The check item appears blurry with some ink blots or stains in certain areas, fonts look inconsistent and style and format
What is Check Washing
Criminals target a certain group of individuals or organizations using direct approach or automated techniques to gain sensitive information from the collective
What is spear phishing
You are asked to open accounts or take out loans with a financial institution by an unknown third party who incents you with a promise to pay you for doing so
What is a Money Mule
The stated employment role and supporting docs cannot be matched to the stated employer
What is false Proof of Employment (POE)
Conducted the largest social security funds scam in history
Who is Eric C. Conn
An individual who deposits a check from one account at one CU into another at a different CU, then immediately withdraws money before the check clears and the funds are actually available.
What is Check Kiting
An individual uses a list of mobile phone numbers sold on the dark web to conduct a calling campaign pretending to be from the local cable company
What is vishing
A type of advance-fee fraud which begins with an unexpected email notification, phone call, or mailing stating you won the lottery but need to pay a “processing fee” or the like
What is a Lottery Scam
An individual or group sets up a business entity that is licensed to buy and sell automobiles. It is registered with the appropriate auth (Sos) but is ultimately found to deal with straw buyers and has no actual physical presence
What is dealer fraud
This common fraud scheme bears his name
Who is Charles Ponzi
A person deposits an envelope in the ATM stating the amount of the deposit and then withdrawals any funds made available. The envelope is found to have nothing in it
What is Empty Envelope fraud
Oh my, I just received an urgent call from law enforcement that my grandson has been kidnapped in Mexico by a cartel and I need to wire $25,000 immediately or he might be killed!
What is imposter based extortion
When a scammer calls stating you owe taxes and threatens legal action or jail time if you do not pay immediately
What is an IRS/Tax Scam
A group of individuals working in concert to open certain types of loans at scale in a short period of time with the intent to xfer the approved credit and abandon the loans. Could be geographic or ethnic in nature.
What is a loan fraud ring
Ex-CEO of Theranos, a blood testing start up that falsified R&D info and financial disclosures, duping investors and regulators resulting in losses in the hundreds of millions
Who is Elizabeth Holmes