The hottest Fraud prevention Substack posts right now

The total amount of improper payments during Biden's presidency is reported to be $925 billion. This means a lot of money was incorrectly sent out by the government.
In just one year, federal agencies noted almost $162 billion in improper payments. This issue has been growing and was particularly bad during the COVID pandemic.
The Centers for Medicare and Medicaid Services had the highest amount of waste, totaling $87 billion. Also, many payments were sent to people who have died, showing problems with tracking who should receive money.

Sezzle stopped working with several online pharmacies after an investigation revealed they were illegal. This means those pharmacies can no longer process payments using Sezzle.
Many of these online pharmacies sell medications that may not be safe for U.S. consumers. They often have poor regulations and can provide the wrong or dangerous drugs.
By highlighting these issues, the investigation helped prevent fraud and potential harm to consumers. Removing the payment option makes it harder for these illegal pharmacies to reach American buyers.

EMV cards use chips and PINs for better security compared to older magnetic stripe cards, which are easy to skim and clone. This makes it harder for thieves to steal card information.
Skimming is when criminals capture card details to create fake cards, usually by using devices at ATMs or stores. With EMV technology, the stolen data is less useful since it's protected by complex cryptographic keys.
Even if someone hacks a card reader, they can't easily cash out fraudulent transactions because of built-in security checks that prevent misuse and create a paper trail back to the source.

Industrial decisions involve standardization and division of labor to optimize efficiency.
Industrializing decision-making processes can lead to increased efficiency but also create templates for fraud.
Not all decision processes should be industrialized; monitoring and flexibility are crucial for long-term success.

Online banks have a frictionless account creation process, raising concerns about identity verification.
Regions Bank suffered significant losses due to changes in check holding policies.
Security firm Emsisoft advocates for banning ransomware payments to discourage criminal behavior.

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Different device identifiers include MAC Address, Serial Number, and IMEI for unique device recognition.
EID and ICCID are specific identifiers for eSIM functionality and SIM cards on mobile networks.
MEID, SEID, and others are additional unique identifiers used for specific device functionalities like eSIMs and NFC technology.

Image duplication software is not the solution for academic integrity issues.
Data sharing is a partial solution to detecting research misconduct.
Complete data transparency, including sharing de-identified data sets and code, is essential for scientific integrity.

SMS fraud involves bad actors using special phone numbers to trick services into sending them many authentication messages, which helps them make money.
To prevent SMS fraud, companies can use tactics like blocking suspicious IPs, limiting the number of SMS sent to a number, or even using alternatives like WhatsApp for communication.
There’s a chance for SMS service providers like Twilio to develop tools that can quickly identify and block fraud, helping many businesses stay safe from attacks.

Food fraud is a big problem, and understanding the latest research can help businesses protect themselves better. Keeping updated with new methods to prevent fraud is important for food safety professionals.
Creating a strong verification ecosystem is key to preventing food fraud. This means having reliable checks and balances in place to ensure the integrity of food products.
The research emphasizes practical strategies to combat food fraud. Using these strategies can make a real difference in how businesses manage food safety and trust.