Tag: loan fraud
2 articles
WindRelay Malware Enables Live-Call Loan Fraud via NFC Relay Attack
In just 13 minutes, a scammer can use a single phone call to trick victims into installing malware, allowing them to commit card and loan fraud - all thanks to the cunning WindRelay malware. This sneaky software uses NFC relay attacks to enable live-call loan fraud, leaving victims none the wiser.
Fraudsters Target Credit Unions with Structured Loan Scams
Fraudsters are now targeting credit unions with sophisticated loan scams, using stolen identities and social engineering to exploit lending workflows. In fact, auto lending fraud exposure is expected to hit $9.2 billion by 2025, making it a lucrative target for these scammers.