Bank scam and internet fraud explained by Veritas

Digital bank Monzo is one of the fastest-growing new banks in Britain, opening 750,000 accounts over the past two years. Now, in an extraordinarily candid move for a bank, it has thrown open its doors to Guardian Money to expose the scams and brazen criminality that threaten customers – and how it is fighting back.

The tactics used to fight credit card scams are getting more sophisticated all the time. Unfortunately, so are the tactics used by credit card scammers.
More than 2.3 million cases of fraud and identity theft were reported in 2019, according to the Federal Trade Commission — an increase of 26% from five years earlier and 138% in a decade.

Many people are relying on Amazon deliveries during the coronavirus pandemic and fraudsters are taking advantage of that. Now, a new scam targeting Amazon customers is duping people out of a lot of money.
Sheyla Maldonado got a text, which appeared to be from Amazon, telling her to review her shipment details.

Authorities are searching for a woman they say made fraudulent credit card purchases online then tried to pick up one of the deliveries at the victim’s Montgomery County home.
Officers say it started on July 20 when the victim discovered about $2000 of fraudulent charges on their credit card.

Every year, millions of American consumers — nearly 7% of the population — are victims of scams and fraud. In 2017, the number of fraud victims in the US reached 16.7 million, with $16.8 billion lost.
For more than 45 years, I’ve worked with, advised and consulted with the FBI and hundreds of financial institutions, corporations and government agencies around the world to help them in their fight against fraud.