May 22, 2020
Consumer experience and biometrics are at a crossroad as consumers…
Have you ever wondered where – and how – fraudsters learn how to do what they do best? A new publication, The Fraud Bible, is here to answer all your questions – and unfortunately share the means of becoming a criminal. From a consumer mindset, this bible will offer insight into the ways fraudsters take advantage – but from a fraudster mindset, it is only a starting point.
Regardless of how it appears, this guide is more sinister than a first glance may allow. Though gaining immense traction this past week, over six months have passed since the Fraud Bible was originally released. Inside, there’s there’s information on everything from counterfeiting to creating fake IDs, bitcoin and giftcarding. These shared fraud tactics and methods are criminal offenses, yet in a format of a guide found on the internet, it looks more and more like non criminal activity.
My next question is how do you find this criminal guide? A quick Google search will get you there – some with promises of a free download, others costing you hundreds of dollars. And with it, there are over 14,000 files making up 35 gigabytes. These files are in highly specific named folders, which gives us an insight to how detailed fraudsters are in their methods of committing fraud – and how they target their victims.
We have seen fraud rise 350% over the past five years. Is the Fraud Bible responsible? Not solely – but it has definitely contributed. As fraudsters begin to become more intertwined with one another, and as there is more communication between who fraudsters are targeting and the ways they are accomplishing this, the fraud rate will continue to rise.
What’s next? Download our full Voice Intelligence Report to learn more about the tactics behind the fraudsters.