Last month I published an article for Point Predictive titled Fast Money, Fast Fraud Scams. In this I highlight some of the concerns of an increasingly hot market, both in the automotive and mortgage industries. As demand for lending increases, the major competitive advantage for lenders is speed. The speed at which they approve a […]
Fast Money = Fast Fraud Read More »
When I’m talking to fraud professionals or consulting businesses on best practices, fraud prevention can often become much more complicated than it needs to be. Although the proper approach to fraud prevention is a layered one, that doesn’t mean that the more complex the system the better it is. I typically have 3 steps to
3 Steps To Fraud Strategy Read More »
Point Predictive recently released their 2020 Annual Auto Fraud Report which delivers a level of insight never seen before in the automotive industry. The report highlights the severity of fraud in 2020 and how the pandemic continues to transform the fraud landscape. Point Predictive leverages their consortium to identify industry level patterns. Information from over
Landmark Study: Point Predictive’s 2020 Annual Auto Fraud Report Read More »
All fraud is bad, right? Well…kind of. Point Predictive owns and operates the largest auto lending fraud consortium on the market. Housed within the consortium is information on more than 94 million applications (growing by 2MM/month), and $2.4B worth of fraud and misrepresentation Throughout 2020, Point Predictive noticed a 300% increase in employment related fraud,
A Tale of Two Frauds Read More »
In a recent announcement released by the Financial Crime Enforcement Network (FinCEN), Capital One is being fined $390 million for failing to properly identify, evaluate, and report on suspicious activity for a major money services business. What Is BSA? The Bank Secrecy Act, or BSA, is a piece of legislation that was passed by Congress
Lessons from Capital One – BSA: Cost Center or Gatekeeper? Read More »
By now everyone is sick of hearing about COVID. And honestly just putting the letters C-O-V-I-D into this post will most likely tank any SEO. The virus has ravaged families, businesses, governments, and countries alike. In March, President Trump signed the CARES Act into law which was meant to bring relief to US citizens. But
Unemployment Fraud 2: Electric Boogaloo Read More »
Say you have a thorn in your foot. You’re in extreme pain and go to see your doctor. After you’ve made it through the waiting room, checking your height and weight, and having the nurse take your vitals, you’re finally ready to see the doctor. The doctor walks in to see the thorn in your
Symptom vs Disease Read More »
Card fraud has a special place in my heart. It’s where I began my career in fraud, and what helped propel me to where I am today. As a card issuer there aren’t many ways to differentiate your product from your competitors other than the benefits that are offered and APR (Maybe a cool design
Card Fraud: 4 Keys to Building a strong Program Read More »
com·pet·i·tive ad·van·tage a condition or circumstance that puts a company in a favorable or superior business position Competitive advantage is what differentiates businesses and industries. It’s what separates and determines success. Products, business models, marketing, or sales strategy. But what about in the context of fraud prevention? When I think of competitive advantage, I think
Competitive Advantage – Redefining Fraud Prevention Read More »
Lake houses. Beaches. Mountains. Camping. Everyone has their favorite form of vacation. The best way for them to decompress, relax, and get away from the busyness of life. But as people head out to their go-to destination, fraudsters are still doing what they do best. Fraud never takes a vacation, and this is a story
Fraud Never Takes A Vacation Read More »
