Privacy professionals
fromwww.paymentsdive.com
10 hours agoTactics to combat fraud and protect your business reputation
Fraud losses exceeded $12.5 billion in 2024, significantly impacting consumer trust and brand reputation.
The administrators behind Military Phony described 'digital stolen valor' as the online equivalent of wearing medals you didn't earn, using exaggerated or fabricated credentials to gain respect, sympathy or opportunity that would otherwise belong to someone else.
Last month, I sat across from one of the brightest people I know as he explained how he'd lost nearly everything to a sophisticated scam. This wasn't some naive teenager or technophobe. This was my friend from university days, a retired executive who'd navigated corporate politics for decades and made shrewd investment decisions his whole life. Watching him piece together how it happened was like watching someone solve a puzzle in reverse.
"The buttons that he's telling me to push are not there. I don't use Zoom often so I'm feeling frustrated thinking that I don't know what I'm doing. He's getting frustrated, and he says, 'OK, let's just switch the Zoom call to your phone,'" Stotts said.
Scammers are constantly evolving their tactics - and so are we. Every day, criminals use increasingly sophisticated measures to defraud people on our platforms and across the internet.