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Beware the dangers of AI chatbots but embrace investigatory advantages
AI chat prompts and results can persist on third-party servers, posing security risks but also offering investigative value. The authors provide strategies to safeguard data and leverage it effectively.
Written By: Carolyn Conn, Ph.D., CFE, CPA, Zachary M. Kelley
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- Computers and Technology
- Cyberfraud
- Technology
5 most scandalous fraud cases of 2025
Cyber breaches and cryptocurrency scams dominated headlines in 2025 as fraudsters leveraged cutting-edge technology to steal billions. Yet, amid these high-tech schemes, some old-school fraud tactics resurfaced. Discover Fraud Magazine’s roundup of the year’s most notorious cases, as selected by the ACFE Advisory Council.
Written By: Anna Brahce, Crystal Zuzek, Jennifer Liebman, CFE
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- Cryptocurrency and Digital Assets
- Cyberfraud
- Fraud Schemes
- Health Care Fraud
18 arrested for global credit card scheme and more
Eurojust coordinates a takedown of an international credit card scheme, researchers develop a tool for detecting food fraud, Meta profits from scam ads, and ex-founder and CEO of Beneficient is indicted for a scheme that triggered a bankruptcy.
Written By: Jennifer Liebman, CFE
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- Consumer Fraud and Scams
- Cyberfraud
- Financial Transactions and Fraud Schemes
Scam compound operator indicted for fraud and more
In a sweeping indictment unsealed by the U.S. Department of Justice (DOJ), Chen Zhi, the 37-year-old chair of Cambodia-based Prince Holding Group, is accused of masterminding one of the largest forced labor and cryptocurrency fraud operations in modern history. Austrian ex-property tycoon René Benko has been sentenced to two years in prison. Messaging platform Discord has revealed that approximately 70,000 users may have had their official identification photos exposed following a cyberattack on a third-party age verification provider. Wendy Osefo, a sociology professor at Wesleyan University and cast member of “The Real Housewives of Potomac,” was arrested in Maryland alongside her husband, Eddie, on 16 counts of insurance fraud.
Written By: Crystal Zuzek
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- Bribery and Corruption
- Cryptocurrency and Digital Assets
- Cyberfraud
Emotions speak louder than words
Online investment scams are on the rise, and they’re carefully crafted performances that use human psychology to lure victims. Here, the author discusses his research on the emotional tricks that fraudsters use and how understanding these tactics can help stop such crimes in their tracks.
Written By: Akers C. Kuo, Ph.D., CFE
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- Consumer Fraud and Scams
- Cyberfraud
- Fraud Prevention and Deterrence
The evolution of PAN enumeration attacks: Tackling a growing threat to payment security
By exploiting automated processes, fraudsters can bypass payment security measures at a faster, subtler rate. The authors explain how payment-processing companies can increase their defenses and better protect their customers against this growing threat to their security.
Written By: Dustin J. Eaton, CFE, Marcus Vinson
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- Cyberfraud
- Fraud Prevention and Deterrence
- Fraud Schemes
Under pressure
Generations that grew up with the internet aren’t immune to online fraud schemes. Trust in online platforms, heavy involvement in social media and financial pressures facing Gen Z and millennials put them at greater risk of being victimized by fraudsters than older adults. Fraud Magazine explores how younger generations become victims — and perpetrators — and what fraud examiners can do to educate them about fraud.
Written By: Crystal Zuzek, Anna Brahce
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- Consumer Fraud and Scams
- Cyberfraud
- Fraud Schemes
Be alert to Medicare hospice fraud and new mobile job-offer cons, plus spot phishing scams
Creative scammers offer Medicare hospice services (to those who aren’t terminally ill). Beware of sophisticated job-offer frauds on mobile devices. And here’s how to spot pesky phishing scams.
Written By: Robert E. Holtfreter, Ph.D., CFE
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- Consumer Fraud and Scams
- Cyberfraud
- Identity Theft
Nations unite to wipe out telecom fraud centers and more
China, Myanmar and Thailand join forces to tackle telecom fraud centers operating in Myanmar; a woman in Texas pleads guilty to smuggling and distributing an unapproved, altered drug used to treat cats; the prison sentence of former Mozambique finance minister, Manuel Chang, is increased; and former U.S. Senator Bob Menendez is sentenced to 11 years in prison.
Written By: Crystal Zuzek
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- Bribery and Corruption
- Cyberfraud
- Fraud Schemes
5 most scandalous fraud cases of 2024
Fraudsters work year-round to perpetrate their schemes. Fraud Magazine also works year-round tracking the news for those schemes we believe will live in infamy and serve as cases for anti-fraud professionals to study for years to come. Here are the most scandalous frauds of 2024.
Written By: Jennifer Liebman, CFE, Crystal Zuzek, Anna Brahce
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- Cyberfraud
- Financial Institution Fraud
- Fraud Schemes
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