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February 5 – The Week in Phone Fraud

TWIPF2 This week in phone fraud, new chip cards lead to new fraud, and NPR breaks down the “work from home” phone scam.

This week NPR’s Planet Money featured a story on a popular phone scam that claims to help victims set up an online business and work from home. This scam illustrates the social engineering techniques used to get consumers to divulge personal information, including details on mortgages and other financial accounts.

On Tuesday, Javelin Strategy & Research released its annual Identity Fraud study. The report shows that even with the rollout of EMV in the US during 2016, incidents of identity theft have remained the same. The report shows that fraudsters are simply moving to new channel, including the phone, and using different types of fraud, like new account fraud.


Atlanta Business Chronicle: Pindrop Security plans Atlanta expansion, will add 150 jobs – In four years we’ve gone from three guys at lunch at the Georgia Tech hotel with a research paper to the largest company in Technology Square,” Judge said We are now focused on expanding globally with the headquarters right here in Atlanta.”

Eater: Burger King Employees Smash Windows After Prank Call – A practical joker called the fast food restaurant, posing as an official with the local fire department, and told employees the building had gas leak. The caller advised employees to break the restaurant’s windows for ventilation.

Bob Sullivan: New chip credit cards lead to …. worse fraud? – “With the much-anticipated U.S. shift to EMV well underway, fraudsters are transitioning along with consumers,” the Javelin report said. “This drove a 113% increase in incidents of new account fraud, which now accounts for 20% of all fraud losses.”

On The Wire: FDIC Releases Cybersecurity Framework for Banks – Attackers have had more than their fair share of successes against banks in recent years, both with direct attacks and with phone fraud schemes that convince consumers or businesses to transfer money directly to the criminals.

On The Wire: New Data Shows Google Listing Phone Scam On the Rise – The new data from Pindrop Labs shows that scammers are using this scam to prey on the desire of small business owners to raise the profile of their businesses. The scam is a simple one and involves a robocall that supposedly comes from “your local Google specialist.”

The Verge: Sponsor of federal anti-swatting bill targeted by swatting hoax – Rep. Katherine Clark (D-MA), who has pushed Congress to impose harsher penalties on “swatting,” has been targeted by a swatting call. Clark’s office reported that police in Melrose, MA had received an anonymous emergency call about a shooter at her address.

On The Wire: On the Wire Podcast: Bruce Schneier – Bruce Schneier, the well-known cryptographer, author, and security expert, is today’s guest on the On the Wire podcast. Dennis Fisher talks with Schneier about the emerging problem of IoT security, and what can be done to address the technical issues all of this entails.

NPR Planet Money: Anatomy Of A Scam – You’ve seen these ads before: “Work from home. Make thousands of dollars a week. Call this number!” Today on the show, we find out what happens when you respond. We have secret documents laying out how it all works. And recordings of actual phone calls.

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