Online Financial Crimes Are a Plague on Both Our Houses
From entire cities paralyzed by ransomware to individuals targeted with fake credit card offers, fraud is suddenly everywhere.
In the high-stakes world of consumer and corporate fraud and online financial crimes- a worldwide, underground cottage industry estimated well into the billions- modern criminals, like their antisocial predecessors of yesteryear, still love low-hanging fruit best.
Forgot what you saw in the movies; the best, savviest, wealthiest, most prolific, wily, and difficult to catch criminals who have ever lived do not seek out Mission Impossible-level scenarios to overcome for a big score.
They don’t need to; not with so much low-hanging financial fruit, just dangling on the vine.
The measures companies, private individuals and government agencies take to protect themselves from online fraudsters, hackers, and organized crime rings are laughably inadequate at times.
At best, most are staying one step ahead of innovative criminals willing to exploit any loophole, any system weakness, any lapse on the part of any server or employee, to steal millions.
Perhaps the most famous former-criminal turned witness for the prosecution alive today is Frank Abagnale. The exploits of Frank Abagnale are so famous, Leonardo…