Easy Prey31 Elo 2022

Fighting Against Fraud with John Breyault

With financial payment platforms used more regularly to exchange cash between individuals, scammers have become more creative in using them to defraud users. Today's guest is John Breyault. John is the National Consumers League Vice President of Public Policy, Telecommunications, and Fraud. As the director of Fraud.org, John is a nationally recognized expert in fraud, with more than 17 years of experience in educating consumers in advocating for stronger consumer protections at the federal, state, and local levels. He is the author of Fraud.org's monthly Fraud Alert emails and NCL's bi-weekly Data Insecurity Digest. He has testified before Congress, federal regulatory agencies, and state legislatures dozens of times about fraud related topics. He is quoted regularly in the press about fraud including The New York Times, Wall Street Journal, and Washington Post.

Show Notes:

[1:10] - John shares his background and current roles with the National Consumers League.
[3:02] - John has been working in consumer advocacy for over 20 years.
[4:27] - What are peer to peer payment platforms? Venmo is the most commonly used.
[5:53] - The features of peer to peer payment platforms that are attractive to users are also attractive to scam artists.
[7:46] - John shares the trends in what scammers have been using to get money through Western Union, Green Dot cards, and gift cards.
[9:32] - More needs to be done to make security a priority.
[11:09] - John explains the difference between credit card transactions and peer to peer payment platforms.
[12:16] - With peer to peer platform fraud, banks can't do anything about it due to a loophole in the law.
[13:38] - When this type of fraud is much more painful to experience than credit card fraud.
[14:44] - A huge appeal to these platforms is that they are free. But security needs to be improved.
[17:09] - There are a couple of regulations related to the connection of Venmo to a bank account.
[19:19] - The responsibility has been put on users and victims to monitor and fight back against fraud.
[21:47] - Scammers are very adept at creating a sense of urgency.
[23:38] - John shares an example of how this sense of urgency can fool anyone.
[24:34] - Cryptocurrency is the next focus of attention for those trying to prevent fraud.
[26:40] - These trends tend to follow a pattern.
[28:09] - One of the problems in tracking scam trends is the way data is collected.
[29:23] - We need to change how we talk about fraud victims.
[31:28] - Scams are run as a business these days, which make them much more convincing than in the past.
[34:15] - With most overseas scams, the likelihood of getting your money back is slim.
[35:50] - As a business, think about how you can make peer to peer payment apps as safe as possible?
[37:35] - John shares an example of Venmo transactions that are protected and those that are not.
[40:07] - A legitimate business will accept payment in other ways than only peer to peer apps.

Thanks for joining us on Easy Prey. Be sure to subscribe to our podcast on iTunes and leave a nice review.

Links and Resources:

Tämä jakso on lisätty Podme-palveluun avoimen RSS-syötteen kautta eikä se ole Podmen omaa tuotantoa. Siksi jakso saattaa sisältää mainontaa.

Jaksot(342)

Hidden Phone Tracking

Your phone gives off a surprising amount of information just by being connected to a cellular network. Things like your location, who you communicate with, and your daily patterns can all become part ...

23 Syys 45min

Ransomware Evolution

Ransomware has changed dramatically over the years. What started as criminals locking up individual computers and demanding relatively small payments has grown into a much larger operation involving s...

16 Syys 40min

The Counterfeit Economy

A counterfeit handbag may leave someone disappointed. A counterfeit medication, airbag, or child's car seat can do far more damage. Fake products now reach into nearly every part of daily life, and ma...

9 Syys 43min

The Internet is Playing You

A convincing lie no longer needs to look suspicious. It can appear in a familiar social media feed, come from someone who seems real, or arrive as a video that looks almost impossible to fake. By the ...

2 Syys 44min

The Psychology of Yes

It is easy to say you would never fall for a scam when you are looking at the situation from the outside. In the moment, though, things can feel much less obvious. A request may sound reasonable, the ...

26 Elo 49min

Drink Spiking

A drink can be out of your sight for only a moment, but that may be all it takes for someone to tamper with it. Spiking can happen in bars, restaurants, festivals, and even among people who already kn...

19 Elo 35min

Love, Lies and Locked Up

What sounds like the plot of a crime thriller was Sharon Armstrong's real life. An online romance drew her into an elaborate web of lies involving overseas contracts, invented emergencies, and several...

12 Elo 52min

The Recruitment Trap

Everybody is searching for ways to increase income. Unfortunately, MLMs often look like an easy way to start a business without taking on the cost of a traditional company. The pitch sounds simple. Bu...

5 Elo 51min