Advanced Retail Schemes
Fraudsters buy items with stolen cards and ship them overseas
Reshipping Fraud
Fraudsters use voicemail systems to gain access to accounts
Voicemail Hacking
Fraudsters apply for multiple cards using slightly altered personal details
Application Fraud
Claiming for old devices as if they were new is called this
Device Age Misrepresentation
This tool monitors transactions for suspicious patterns
Fraud Detection Software
Fraudsters create multiple fake accounts to exploit first-time buyer discounts
Promo Abuse via Fake Accounts
Exploiting roaming agreements for free calls is called this
Roaming Fraud
Using prepaid cards for illegal transactions is called this
Prepaid Card Fraud or money laundering
Canceling a policy after filing a claim is called this
Cancel-and-Claim Fraud or bad faith cancellation
Multi-factor authentication helps prevent this type of fraud
Account Takeover
Exploiting refund processes without returning goods is known as this
Refund Fraud
Fraudsters trick carriers into moving numbers to new SIMs on different carriers
Port-Out Fraud
Overpaying a credit card and requesting a refund is called this
overpayment scam or a refund scam
Fraudsters stage accidental damage to claim insurance payouts
Staged Damage Fraud
This technology uses biometric data like fingerprints or facial recognition to prevent fraud
Biometric Authentication
Fraudsters change shipping addresses to intercept deliveries
Package rerouting fraud or a package redirection scam
Fraudsters exploit call forwarding features to intercept sensitive information
call forwarding scam or a component of vishing (voice phishing)
Collusion between merchants and fraudsters is called this
Merchant Collusion
Claiming coverage for items that were never purchased is called this
false insurance claim or insurance fraud
AI-driven anomaly detection is used for this purpose
Fraud Risk Mitigation
Creating fake reviews to boost product ratings is called this
astroturfing or brushing; it can also be described as a form of shilling or sockpuppet marketing
Fraudsters use fake upgrade offers to trick customers into revealing account details
Fake Upgrade Scam
Fraudsters exploit virtual card numbers for unauthorized purchases
Virtual Card Exploitation/fraud
Using stolen devices to file insurance claims is known as this
device insurance fraud or phone insurance fraud
This technology encrypts data during transmission
SSL/TLS Encryption