Fraud is a major problem in all institutions. The more institutions grow, the more opportunities fraudsters have. Therefore, there is a need for institutions to improve fraud detection. This article will discuss the various ways institutions can improve fraud...
You automatically associate the word ‘synthetic’ with something made to imitate a natural product. Therefore, synthetic fraud is a unique and intricate form of identity fraud where what is being imitated is a human being. The fraudster steals a valid...
Account takeover fraud is a type of fraud where an unauthorized third party gains online access to an account and makes unauthorized changes. After making changes, they carry out several transactions that lead to monetary loss. This article discusses accounts that are...
Medicaid fraud occurs when an individual or provider intentionally gives incorrect information so that Medicaid pays for certain medical services, whether existent or non-existent. There are no exact statistics when it comes to Medicaid fraud. However, reports show...
Fraud is a growing concern for businesses of all sizes. According to PWC’s Global Economic Crime and Fraud Survey, 49% of businesses worldwide were victims of fraud in 2018. This survey explains why more companies are increasing their spending on fraud...
Insurance fraud is the deliberate giving of false information to gain an advantage or a benefit. As insurance companies protect us from insurance risk, they too face the risk of insurance fraud. While most people may not be conscious of insurance fraud, its adverse...
