Category - Fraud

SIM swap fraud (also known as Port-Out scam or SIM splitting) is a type of account takeover fraud that generally targets a weakness in two-factor authentication & two-step verification, where the second factor or step is an SMS or a call placed to a mobile telephone.

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Fraud that is committed using the internet is “Internet Scam.” Internet Scam can involve financial fraud and identity theft. Internet Scam comes in many forms. It ranges from viruses that attack computers with the goal of retrieving personal information, to email schemes that lure victims into wiring money to fraudulent sources, to “phishing” emails that purport to be from official entities that solicit personal information from victims to be used to commit identity theft, to fraud on online auction sites where perpetrators sell fictional goods.

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Scams can be clever, but not clever enough; if you know how they work and how to avoid them here few are few ways to prevent fraud.

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Any illegal acts characterized by deceit, concealment, or violation of trust. These acts are not dependent upon the application or threat of violence or of physical force. Fraud is perpetrated by parties and organizations to obtain money, property, or services to avoid payment or loss of services or to secure personal or business advantage.

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Medical fraud differs from other kinds of white-collar crime in that it can cause irreparable physical harm to the victim, as opposed to mere financial losses. Due to tax regulations and a lack of stringent application of even those, many unqualified people lie about their credentials, in an attempt to dupe innocent patients. Because these quacks often lack basic medical training, their actions usually have disastrous, sometimes fatal, results.

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Telemarketing fraud often involves some sort of victim compliance whether it involves the victim initiating contact with the perpetrator or voluntarily providing their private information to the offender thus, fraud victims may experience feelings of shame and embarrassment that may prevent them from reporting their victimization.

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Cheque Fraud refers to a category of criminal acts that involve making the unlawful use of cheques in order to illegally acquire or borrow funds that do not exist within the account balance or account-holder's legal ownership.

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Credit Card Fraud is a harsh reality of digital age. If you are the owner of a credit or a debit card, there is a non-negligible chance that you may be subject to fraud, like millions of other people around the world.

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Loan frauds as a percentage of total banking frauds jumped to 90% in fiscal 2019 from 55% in fiscal 2018 after regulatory standards were changed for banks reporting non-performing assets (NPAs).

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Business fraud consists of dishonest and illegal activities perpetrated by individuals or companies in order to provide an advantageous financial outcome to those persons or establishments. Also known as corporate fraud, these schemes often appear under the guise of legitimate business practices.

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