INTERPOL Financial Fraud Report: The Global Threat Expands Boosted By Technology – 2024

INTERPOL Financial Fraud Report: The Global Threat Expands Boosted By Technology

Organized Crime Groups using more Human Trafficking Victims to carry out Crypto-Investment (‘pig-butchering’) and other Scams

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• INTERPOL

About This Article

The recent INTERPOL assessment on global financial fraud underscores the growing threat posed by technology-enabled organized crime groups targeting victims worldwide.

Utilizing tools like Artificial Intelligence (AI), large language models, and cryptocurrencies, these groups orchestrate sophisticated fraud campaigns with minimal technical skills and at low costs. Secretary General Jürgen Stock warns of the epidemic scale of financial fraud, emphasizing the need for urgent action and enhanced information sharing.

The report reveals prevalent fraud trends such as investment fraud and romance fraud, necessitating multi-stakeholder partnerships to develop effective counter strategies. With financial fraud increasingly perpetrated by transnational networks, law enforcement faces the challenge of strengthening data collection and analysis to Read More …

SCARS Editorial Team2024-04-11T07:54:11-04:00April 11th, 2024|Categories: • CRIMINOLOGY, • GOVERNMENT / REGULATORY, 2024, ARTICLE, INTERPOL, SCARS Editorial Team, WORLDWIDE|Tags: Financial Fraud, INTERPOL, Scams, Threat Expands|

Susceptibility To Deception/Scams/Fraud With Victims Who Also Suffer From Mental Disorders – 2024

Susceptibility To Deception/Scams/Fraud With Victims Who Also Suffer From Mental Disorders

Helping Scam Victims and their Families Better Understand the Impact of Deception, Scams, or Fraud on those with Mental Disorders

Scam Victim Recovery Psychology

Authors:
• Vianey Gonzalez B.Sc(Psych) – Psychologist, Certified Deception Professional, Psychology Advisory Panel & Director of the Society of Citizens Against Relationship Scams Inc.
• Tim McGuinness, Ph.D. – Anthropologist, Scientist, Director of the Society of Citizens Against Relationship Scams Inc.
• Based on research by the United States National Institute of Mental Health

About This Article

Individuals with diagnosed mental disorders are not only profoundly susceptible to deception but can be even more vulnerable to scams or fraud. Mental disorders can significantly impact cognitive functions and decision-making abilities, potentially increasing susceptibility to scams.

This article examines the relationship between the top ten common mental disorders and vulnerability to deception, scams, and fraud, emphasizing affected brain functions. While it serves as Read More …

SCARS Editorial Team2024-04-04T11:58:48-04:00April 4th, 2024|Categories: • PSYCHOLOGY, 2024, ARTICLE, Tim McGuinness PhD, Vianey Gonzalez B.Sc(Psych)|Tags: Deception, Fraud, Mental Disorders, Scam Victims, Scams, Susceptibility|

NACHA Changes Credit-Push ACH Payments Rules To Fight Scams & Fraud – 2024

NACHA Changes ACH Credit-Push Payments Rules To Fight Scams & Fraud

Placing More Responsibility on the Financial Services Sector to Police Scams & Fraud

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• NACHA

About This Article

Nacha members have endorsed rules to combat fraud, including business email compromise (BEC), leveraging credit-push payments. These rules mandate ACH payment monitoring for all network participants (excluding consumers), marking a pivotal shift.

Despite not altering liability, recipient financial institutions (RDFIs) gain a monitoring role for the first time. With BEC scams, vendor impersonation, and payroll fraud causing significant losses, the need for action is urgent.

SCARS Editorial Team2024-03-20T08:29:55-04:00March 20th, 2024|Categories: • GOVERNMENT / REGULATORY, 2024, Additional Authors, ARTICLE, SCARS Editorial Team, USA|Tags: ACH Payments, Fraud, NACHA, Prevention, Scams|

The Global Fraud Summit In The UK – 2024

The 2024 Global Fraud Summit In The UK

Addressing Global Fraud & Cybercrimes

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• UK Home Office

About This Article

The historic Global Fraud Summit, held in the UK on March 10-11, 2024, brought together world leaders, industry experts, and representatives from multiple continents to tackle the growing threat of global fraud.

The summit aimed to foster international collaboration, raise public awareness, and develop strategies to disrupt criminal operations and prevent future scams.

A key outcome was the establishment of a joint communique outlining areas of focus, including information sharing, law enforcement cooperation, public education campaigns, and technological solutions.

This summit signifies a major step towards a more unified global front against fraud.

SCARS Editorial Team2024-03-15T14:57:53-04:00March 15th, 2024|Categories: • ADVOCACY / POLICY, • GOVERNMENT / REGULATORY, 2024, ARTICLE, SCARS Editorial Team, UK Government, WORLDWIDE|Tags: Cybercrime, Fraud, Global Fraud Summit, Government Policy, Scams, UK|

North Korea Hackers are Using AI (Artificial Intelligence) for Scams – 2024

North Korea Hackers are Using AI (Artificial Intelligence) for Scams

Cybercrime is Evolving Fast!

Cybercrime News

Author:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• Portions from Financial Times

About This Article

North Korean hackers are now utilizing artificial intelligence (AI) to orchestrate more sophisticated cyber scams, leveraging platforms like LinkedIn and AI services such as ChatGPT to enhance their deceptive tactics.

This shift towards AI-driven cybercrime poses a significant challenge to cybersecurity efforts globally. By creating credible profiles and engaging targets over extended periods, hackers can execute more convincing phishing attempts and malware dissemination.

SCARS Editorial Team2024-02-21T17:49:26-05:00February 21st, 2024|Categories: • CRIMES & CRIMINALS, 2024, NEWS, NORTH KOREA, SCARS Editorial Team|Tags: AI, Artificial Intelligence, Cybercrime, Hackers, North Korea, Scams|

Overconfidence And Scam Victims’ Susceptibility To Scams – 2024

Overconfidence And Scam Victims’ Susceptibility To Scams

Psychology of Scams

Authors:
• Vianey Gonzalez B.Sc(Psych) – Psychologist, Certified Deception Professional, Psychology Advisory Panel & Director of the Society of Citizens Against Relationship Scams Inc.
• Tim McGuinness, Ph.D. – Anthropologist, Scientist, Director of the Society of Citizens Against Relationship Scams Inc.

Article Abstract

Overconfidence poses a hidden threat, enticing individuals into the dangerous realms of scams in financial and interpersonal spheres.

Manifesting in decision-making and risk assessment, overconfidence leads people to overestimate their abilities, influenced by cognitive biases and reliance on mental shortcuts.

The brain’s reward system reinforces this bias through positive feedback, hindering objective self-evaluation. This overconfidence, pervasive in romance and cryptocurrency scams, blinds individuals to red flags and manipulations.

Understanding the neuroscience behind overconfidence involves recognizing cognitive biases, anchoring bias, illusion of control, and prefrontal cortex involvement. Mitigating overconfidence requires diverse perspectives, expert advice, critical thinking, and mindfulness, empowering individuals to make rational and informed Read More …

SCARS Editorial Team2024-01-24T01:04:51-05:00January 24th, 2024|Categories: • PSYCHOLOGY, • FEATURED ARTICLE, • FOR SCAM VICTIMS, 2024, ARTICLE, Tim McGuinness PhD, Vianey Gonzalez B.Sc(Psych)|Tags: Cognitive Bias, Decision Making, Overconfidence, Psychology of Scams, Scam Victims, Scams, Susceptibility|

Fraud & Scams Are So Big We Need To Teach It In Schools – 2024

Fraud & Scams Are So Big We Need To Teach It In Schools

An Editorial About The Need To Share Anti-Fraud Information With Children!

Authors:
• Yaniv Hanoch, Professor in Decision Science, University of Southampton
• Stacey Wood, Professor of Psychology, Scripps College

Article Abstract

The growing prevalence of fraud demands a critical shift in education, urging the inclusion of anti-fraud teachings in school curricula. With fraud cases rising by 25% in the UK alone, encompassing over 40% of individual crimes, the traditional view of fraud as an issue solely affecting the gullible or vulnerable is outdated.

SCARS Editorial Team2024-01-07T10:47:29-05:00January 2nd, 2024|Categories: • ADVOCACY / POLICY, • FEATURED ARTICLE, 2024, ARTICLE, GUEST AUTHORS, The Conversation|Tags: Children, Fraud, Scams, Schools|

Scam Victims And The Crossing Of The River Styx – An Interpretation Of The Recovery Process – 2023

Scam Victims And The Crossing Of The River Styx

An Interpretation of the Recovery Process

Author:
• Tim McGuinness, Ph.D. – Anthropologist, Scientist, Director of the Society of Citizens Against Relationship Scams Inc.

Hear this article – Read by the Author – Click Here

The Recovery Process Has Greater Meaning Than Just Feeling Better For Scam Victims!

It Is A Mythological Journey From The Land Of What Was Once To The Land Of What Will Be

For most scam victims their recovery process is a journey of rebirth and renewal. It is a journey through the emotional underworld and that journey is a heroic beginning to their new and future life. And like most hero’s journeys, most of those who could make the journey will never take it, yet ironically, everyone could.

SCARS Editorial Team2023-12-23T04:35:15-05:00December 22nd, 2023|Categories: • PSYCHOLOGY, • FEATURED ARTICLE, 2023, ARTICLE, Tim McGuinness PhD|Tags: Recovery Process, Recovery Psychology, Scam Victim Recovery, Scam Victims, Scams|

Scams and Cryptocurrency Go Hand in Hand

Scams and Cryptocurrency go Hand in Hand

Authors:
• Yaniv Hanoch, Associate Professor in Risk Management, University of Southampton; and
• Stacey Wood, Professor of Psychology, Scripps College

Scams And Cryptocurrency Can Go Hand In Hand – Here’s How They Work And What To Watch Out For

When one of our students told us they were going to drop out of college in August 2021, it wasn’t the first time we’d heard of someone ending their studies prematurely. What was new, though, was the reason. The student had become a victim of a cryptocurrency scam and had lost all their money – including a bank loan – leaving them not just broke, but in debt. The experience was financially and psychologically traumatic, to say the least.

SCARS Editorial Team2024-01-02T04:08:55-05:00September 23rd, 2023|Categories: • CRIMES & CRIMINALS, 2023, ARTICLE, GUEST AUTHORS, The Conversation, WORLDWIDE|Tags: Cryptocurrency, Scams|

The Importance Of Taxonomies In Understanding Scams Fraud & Cybercrimes – 2023

The Importance Of Taxonomies In Understanding Scams Fraud & Cybercrimes

Criminology

Author:
• Tim McGuinness, Ph.D. – Anthropologist, Scientist, Director of the Society of Citizens Against Relationship Scams Inc.

Article Abstract

The article delineates the paramount significance of taxonomies in criminology, cybersecurity, fraud prevention, and law enforcement, emphasizing their role in creating unified frameworks for understanding criminal behavior.

SCARS Editorial Team2024-01-10T14:50:02-05:00June 20th, 2023|Categories: • CRIMINOLOGY, 2023, ARTICLE, Tim McGuinness PhD|Tags: Cybercrime, Fraud, Scams, Taxonomy|

INTERPOL Financial Fraud Report: The Global Threat Expands Boosted By Technology

Organized Crime Groups using more Human Trafficking Victims to carry out Crypto-Investment (‘pig-butchering’) and other Scams

Authors: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • INTERPOL

About This Article

Susceptibility To Deception/Scams/Fraud With Victims Who Also Suffer From Mental Disorders

Helping Scam Victims and their Families Better Understand the Impact of Deception, Scams, or Fraud on those with Mental Disorders

Scam Victim Recovery Psychology

About This Article

NACHA Changes ACH Credit-Push Payments Rules To Fight Scams & Fraud

Placing More Responsibility on the Financial Services Sector to Police Scams & Fraud

Authors: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • NACHA

About This Article

The 2024 Global Fraud Summit In The UK

Addressing Global Fraud & Cybercrimes

Authors: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • UK Home Office

About This Article

North Korea Hackers are Using AI (Artificial Intelligence) for Scams

Cybercrime is Evolving Fast!

Cybercrime News

Author: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • Portions from Financial Times

About This Article

Overconfidence And Scam Victims’ Susceptibility To Scams

Psychology of Scams

Article Abstract

Fraud & Scams Are So Big We Need To Teach It In Schools

An Editorial About The Need To Share Anti-Fraud Information With Children!

Authors: • Yaniv Hanoch, Professor in Decision Science, University of Southampton • Stacey Wood, Professor of Psychology, Scripps College

Article Abstract

Scam Victims And The Crossing Of The River Styx

An Interpretation of the Recovery Process

Author: • Tim McGuinness, Ph.D. – Anthropologist, Scientist, Director of the Society of Citizens Against Relationship Scams Inc.

The Recovery Process Has Greater Meaning Than Just Feeling Better For Scam Victims!

It Is A Mythological Journey From The Land Of What Was Once To The Land Of What Will Be

Scams and Cryptocurrency go Hand in Hand

Authors: • Yaniv Hanoch, Associate Professor in Risk Management, University of Southampton; and • Stacey Wood, Professor of Psychology, Scripps College

Scams And Cryptocurrency Can Go Hand In Hand – Here’s How They Work And What To Watch Out For

The Importance Of Taxonomies In Understanding Scams Fraud & Cybercrimes

Criminology

Author: • Tim McGuinness, Ph.D. – Anthropologist, Scientist, Director of the Society of Citizens Against Relationship Scams Inc.

Article Abstract

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• INTERPOL

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• NACHA

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• UK Home Office

Author:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• Portions from Financial Times

Authors:
• Yaniv Hanoch, Professor in Decision Science, University of Southampton
• Stacey Wood, Professor of Psychology, Scripps College

Author:
• Tim McGuinness, Ph.D. – Anthropologist, Scientist, Director of the Society of Citizens Against Relationship Scams Inc.

Authors:
• Yaniv Hanoch, Associate Professor in Risk Management, University of Southampton; and
• Stacey Wood, Professor of Psychology, Scripps College

Author:
• Tim McGuinness, Ph.D. – Anthropologist, Scientist, Director of the Society of Citizens Against Relationship Scams Inc.