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How do fraudsters isolate who/where to target?
I was recently asked this question and immediately my mind ran through the process. There are many sources of information and many ways to go about this. The one that I reflected on (that isn’t spoken about too often) is finding reports like this.
Methods from a Past Life Pt. 1: Selling Rental Cars
Generated credit card numbers are used to reserve a rental car online. The same card number and expiration date are embossed onto a card matching the issuer. 3 for Amex, 4 for Visa, 5 for Mastercard, 6 for Discover. No CVV / Billing Address information is needed due to the weakness of the checkout form. The account is made under the name of someone who has a real (stolen) drivers license that can pass the DL without suspicion. Both the card and the DL are presented in-person when picking up the car.
From the Toolkit of a Fraudster: Razor Blades
As I mentioned in my last post, titles are manipulated by using a razor blade to cross-hatch and pick off laser-printed text. The cleared area is then used to type the information that the fraudster wants to use.
Is Your Automation Designed Properly?
There are many examples of extraordinarily-talented people in our community, many of which represent effective and powerful SaaS offerings. Each offering, as effective as it may be, can only serve as a tool. Consider the use of a hammer. Great for nails. Not so good when applied to screws.
High Level Fraudsters Break Merchant Strategies
A friendly vendor asked me a question that required a pretty long-winded response. My answer was centered around one of the more-involved methods from my past, an explanation of the requisite methods, the reason why the exploits worked, and what could be done to stop someone like me from using this method.
What to Consider When Investing in, or Acquiring, a Company
There’s been an uptick in investors asking this question. It would seem that the global presence of fraud has led to a justified increase in proactive assessments in the community.