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Using social media for fraud recruitment

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I’ve heard that check fraud gangs are recruiting on social media. How can that be?

Check fraud gangs are in fact using social media for recruiting. They hide behind fake identities and brag about how much money they are making by various means of check fraud. They know how to exploit hold times for check deposits at specific financial institutions. The social media post will be a recruitment for anyone with an account at XYZ bank that wants to make easy money by letting them use the account to make deposits and withdrawals. They tell the account holder to claim the account was hacked if anyone questions it. Of course, it’s just a matter of time before the police come calling.


Learn more about Randy Phillip’s webinar Tech Fraud: A Virtual Mine Field

First published on 07/05/2020

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