Fraud

Welcome to What the F Happened, Fraud and Financial Crime Deconstructed, a Defend podcast where we break down what's actually happening across fraud, scams, AML, and financial crime.

Each episode cuts through the noise to explain the tactics, trends, and real-world impact behind the headlines so you're better prepared for what comes next.

Let's get into it.

And they all center around this company called DataVisor and their newly launched product, Veracode.

Right.

We are essentially looking at a scenario where deploying a complex real time fraud prevention system is dropping from a grueling six month slog to just four

days.

Which is almost hard to believe until you see how it works.

I've been C and this has been Scams, Hacks and Frauds.

We really want to talk to people who have been the victim of a scam or who work in the fraud industry or even if you've been part of a multi-level marketing or pyramid scheme.

You can email us at c at scamshacksandfrauds.com and you can find all our episodes, transcripts and further reading at scamshacksandfrauds.com. Scams, Hacks and Fraud is available for free under the Creative Commons with Attribution Sharealike license.

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You can find more information and our previous shows, along with all transcripts, at www.scamshacksandfrauds.com.

So today I'm thrilled to announce the Fraud Whistleblower Incentive Program.

Fraud Whistleblower Incentive Program.

And mark those words, independent journalists and everybody and all Americans will now be able to go to the fraud.gov and report cases of corruption and theft of taxpayer dollars in their communities, all via a new website created by Joe Gebbia, who's fantastic, by the way.

and the team at the National Design Studio.

Everything Joe's done has been a big success for us.

I personally think this is a huge winning issue.

So when you talk to the candidates out there, the effort that the vice president, the president announced the other day of giving people basically a reward for uncovering fraud and reporting it, is that something that you think

plays well on the campaign trail as well? Fraud is the number one issue in Minnesota.

And, Sean, I find it actually funny that we went from Virginia to Minnesota because I've been telling people Abigail Spanberger, the governor of Virginia, might not be the dumbest governor in America, but she better hope that Tim Walz doesn't die anytime soon because he is the dumbest governor.

So...

Fraud, fraud plays as the number one issue in Minnesota.

That is all our candidates should be talking about.

You're talking about millions and billions of money that was built out of Minnesota, primarily by Somali fraudsters.

The sheriff's department was there with a warrant from Arkansas.

The charge was computer fraud.

She says she had never been to Arkansas.

She spent three nights in jail.

In her words, I was basically in shock.

So how did police get to her? In February, police in Arkansas got a fraud report.

A buyer on Facebook Marketplace paid for items that didn't exist.

The seller's Facebook account had been hacked.

moving away from the shopping component, right? If agents are now able to shop, that also means that they're able to be abused, right? So risk is shifting too on that front.

Fraud doesn't look the same anymore, and what's really driving the change most? Is it first party fraud, policy abuse, AI in general, or kind of a component of mixed components?

AI is driving everything these days, it feels like, so I'll probably start there.

But in the fraud world, and you know this given our history together in the risk space, third party fraud still rules all.