Understanding Financial Fraud Terms
These Are The Financial Fraud Terms Used By Fraud Fighters Worldwide
Please note: this is not a comprehensive list of all scam terms.
The fraud-fighting community uses standardized terms to describe financial fraud for several reasons:
- Clarity and Consistency: Standardized terms help to ensure that everyone involved in fraud prevention and detection is speaking the same language. This reduces confusion and misunderstandings, which can be a significant barrier to effective communication and collaboration.
- Accuracy: Standardized terms help to ensure that the right type of fraud is being identified and reported. Using consistent terminology makes it easier for investigators to accurately identify and classify different types of fraud, which is essential for effective fraud prevention and detection.
- Benchmarking: Standardized terms enable organizations to compare their fraud detection and prevention efforts to industry benchmarks. This allows organizations to identify areas where they may be falling behind or excelling, which can help them improve their fraud prevention strategies.
- Training: Standardized terms make it easier to train new employees and educate stakeholders on different types of fraud. By using consistent terminology, organizations can ensure that everyone is on the same page when it comes to understanding the different types of financial fraud and how to detect and prevent them.
- Collaboration: Standardized terms help to facilitate collaboration between different organizations and agencies involved in fraud prevention and detection. By using consistent terminology, investigators and analysts can more easily share information and work together to identify and track down fraudsters.
The use of standardized terms is essential for effective fraud prevention and detection. By using consistent terminology, organizations can ensure that everyone involved in fraud prevention and detection is on the same page, which is essential for effective communication, collaboration, and accurate reporting of financial fraud.
Many of the following have been provided by About-Fraud.com – a SCARS Partner
Financial Fraud Terms: Technology
3DS3DS 3DS is a security protocol used to authenticate users. The objective of 3DS is to provide an extra layer of protection for payment card transactions in card-not-present scenarios.
3DS is a security protocol used to authenticate users. The objective of 3DS is to provide an extra layer of protection for payment card transactions in card-not-present scenarios.
Artificial IntelligenceArtificial intelligence Artificial intelligence (AI) is wide-ranging branch of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence. Machine learning is a subset of Artificial Intelligence. (AIAI Artificial intelligence (AI) is wide-ranging branch of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence. Machine learning is a subset of Artificial Intelligence.)
Artificial intelligence (AI) is a wide-ranging branch of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence. Machine learningMachine learning Machine learning is a subset of artificial intelligence. Machine learning has the capacity to learn over time without being explicitly programmed. It can ingest a large amount of data and detect patterns and anomalies at scale. Supervised machine learning models are trained on a set of labels, while unsupervised machine learning does not require labeled data. is a subset of Artificial Intelligence.
AVSAVS AVS stands for Address Verification Service. AVS is one of the most widely used fraud prevention tools in card-not-present transactions. The way AVS works is it compares the numerical portion of the billing address on file at the bank with the numerical portion of the billing address provided by the customer. Due to inconsistencies in numerical address formatting, AVS results in a large number of false-positives.
AVS stands for Address Verification Service. AVS is one of the most widely used fraud prevention tools in card-not-present transactions. The way AVS works is it compares the numerical portion of the billing address on file at the bank with the numerical portion of the billing address provided by the customer. Due to inconsistencies in numerical address formatting, AVS results in a large number of false positives.
Behavioral BiometricsBehavioral Biometrics Behavioral biometrics is the analysis of how an individual interacts with a given device, whether that be a desktop browser, mobile browser or a mobile app. Behavioral biometrics include interactions such as keystrokes, scrolling patterns, tap pressure and many more.
Behavioral biometrics is the analysis of how an individual interacts with a given device, whether that be a desktop browser, mobile browser or a mobile app. Behavioral biometrics include interactions such as keystrokes, scrolling patterns, tap pressure and many more.
CVVCVV CVV stands for Card Verification Value. CVV is a combination of features used in credit, debit and automated teller machine (ATM) cards for the purpose of establishing the owner’s identity and minimizing the risk of fraud. It often appears as a 3 digit code on the back of credit and debit cards. CVV is also known as the card verification code (CVC) or card security code (CSC).
CVV stands for Card Verification Value. CVV is a combination of features used in credit, debit and automated teller machine (ATM) cards for the purpose of establishing the owner’s identity and minimizing the risk of fraud. It often appears as a 3 digit code on the back of credit and debit cards. CVV is also known as the card verification code (CVC) or card security code (CSC).
Device IDDevice ID Device ID refers to a group of unique identifiers that a specific device contains. One of the primary signals is a DI Print (Device Fingerprint). These unique identifiers can be used to link fraud amongst different devices and are valuable within a consortium of data.
Device ID refers to a group of unique identifiers that a specific device contains. One of the primary signals is a DI Print (Device Fingerprint). These unique identifiers can be used to link fraud amongst different devices and are valuable within a consortium of data.
IP & GeolocationGeolocation Geolocation is the utilization of a device IP address, along with other device signals, to determine geographical location. An Internet Protocol address (IP address) is a numerical label such as 192.0.2.1 that is connected to a computer network that uses the Internet Protocol for communication. An IP address serves two main functions: host or network interface identification and location addressing. An IP Address can be used to locate a physical computer's location.
IP & Geolocation is the utilization of an IP addressGeolocation Geolocation is the utilization of a device IP address, along with other device signals, to determine geographical location. An Internet Protocol address (IP address) is a numerical label such as 192.0.2.1 that is connected to a computer network that uses the Internet Protocol for communication. An IP address serves two main functions: host or network interface identification and location addressing. An IP Address can be used to locate a physical computer's location., along with other device signals, to determine geographical location.
Physical BiometricsBiometrics Physical Biometrics is the use of distinctive, measurable physiological characteristics to verify an individual’s identity. Physical biometrics includes techniques such as retinal scans, fingerprints and voice prints.
Physical Biometrics is the use of distinctive, measurable physiological characteristics to verify an individual’s identity. Physical biometrics includes techniques such as retinal scans, fingerprints, and voice prints.
Machine Learning
Machine learning is a subset of artificial intelligence. Machine learning has the capacity to learn over time without being explicitly programmed. It can ingest a large amount of data and detect patterns and anomalies at scale. Supervised machine learning models are trained on a set of labels, while unsupervised machine learning does not require labeled data.
Rules
Rules are algorithms that use specific attributes and parameters. A rules engine allows for the creation and management of these fraud rules in order to make risk decisions and/or generate a risk score. While not self-learning in nature, analysts can test, modify and improve rule performance.
Risk-Based Authentication (RBA)
Risk-based authentication is the process of assessing user trust and access based on varying levels of risk-based analysis. Risk-based authentication can leverage analysis in a variety of forms such as behavioral profiling on multiple data inputs. The output of risk-based analysis could be approving, declining or step-ing up authentication to a different form of verification.
Financial Fraud Terms: Fraud, Abuse & Risk Types
Account TakeoverAccount Takeover Account Takeover (ATO) are the unauthorized access of a user’s account in order to steal identity credentials, execute a fraudulent transaction or engage in varying types of abuse. (ATOAccount Takeover Account Takeover (ATO) are the unauthorized access of a user’s account in order to steal identity credentials, execute a fraudulent transaction or engage in varying types of abuse.)
Account Takeovers are the unauthorized access of a user’s account in order to steal identity credentials, execute a fraudulent transaction or engage in varying types of abuse.
Application FraudApplication fraud Application fraud is the unauthorized opening of a new account leveraging compromised identity information. This can be for a variety of accounts, including credit cards, retail bank accounts, consumer lending and much more. (New account Fraud)
Application fraud is the unauthorized opening of a new account leveraging compromised identity information. This can be for a variety of accounts, including credit cards, retail bank accounts, consumer lending and much more.
Authorized Push Payment FraudAuthorized Push Payment Fraud Authorized Push Payment Fraud (Scams) occurs when a fraudster manipulates a genuine customer into making a payment to an account they control. There are a variety of types of authorized push payment fraud, including romance scams, invoice scams and a handful of others. (ScamsScams A Scam is a confidence trick - a crime - is an attempt to defraud a person or group after first gaining their trust through deception. Scams or confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, irresponsibility, or greed and exploiting that. Researchers have defined confidence tricks as "a distinctive species of fraudulent conduct ... intending to further voluntary exchanges that are not mutually beneficial", as they "benefit con operators ('con men' - criminals) at the expense of their victims (the 'marks')". A scam is a crime even if no money was lost.)
Authorized push payment fraud occurs when a fraudsterFraudster A Scammer or Fraudster is someone that engages in deception to obtain money or achieve another objective. They are criminals that attempt to deceive a victim into sending more or performing some other activity that benefits the scammer. manipulates a genuine customer into making a payment to an account they control. There are a variety of types of authorized push payment fraud, including romance scams, invoice scams and a handful of others.
Affiliate fraud
Affiliate fraud refers to any false or unscrupulous activity conducted to generate commissions from an affiliate marketing program. Affiliate fraud also encompasses any activities that are explicitly forbidden under the terms and conditions of an affiliate marketing program.
Business Email Compromise
Business email compromise (BEC)—also known as email account compromise (EAC)—is one of the most financially damaging online crimes. It exploits the fact that so many of us rely on email to conduct business—both personal and professional.
In a BEC scam, criminals send an email message that appears to come from a known source making a legitimate request
Call Center FraudCall center fraud Call center fraud is the process of exploiting call centers as a channel in which to launch fraud attacks, spanning varying forms of fraud and abuse. Account takeover is a common fraud type associated with call center fraud.
Call center fraud is the process of exploiting call centers as a channel in which to launch fraud attacks, spanning varying forms of fraud and abuse. Account takeover is a common fraud type associated with call center fraud.
Card FraudCard Fraud Card Fraud is one of the most commonly referenced fraud definitions. It occurs when a fraudster uses a card (debit or credit) to make a purchase without the authorization of the cardholder. Card fraud can occur in-person or through digital channels.
Card Fraud is one of the most commonly referenced fraud definitions. It occurs when a fraudster uses a card (debit or credit) to make a purchase without the authorization of the cardholder. Card fraud can occur in-person or through digital channels.
Card-Not-Present Fraud (CNP)
Card-not-present fraud is fraud that occurs through any channel in which the customer does not have to present the physical credit card to the merchant. Card-not-present fraud includes fraud placed through a mobile device, online, over the phone and through the mail.
Content AbuseContent abuse Content abuse is abusive or malicious user-generated content. Content abuse can include account takeover and/or new account fraud. Spam falls under this layer of content abuse.
Content abuse is abusive or malicious user-generated content. Content abuse can include account takeover and/or new account fraud. Spam falls under this layer of content abuse.
CounterfeitingCounterfeiting Counterfeiting is defined as the planned attempt to duplicate a real and authentic article such as a symbol, trademark or even money with the purpose to distort and convince the purchaser or the recipient to believe that he or she is really purchasing or receiving the real article itself. In the ecommerce and financial services industry, this often refers to counterfeit cards and checks.
Counterfeiting is defined as the planned attempt to duplicate a real and authentic article such as a symbol, trademark or even money with the purpose to distort and convince the purchaser or the recipient to believe that he or she is really purchasing or receiving the real article itself. In the ecommerce and financial services industry, this often refers to counterfeit cards and checks.
Crypto Scam
Crypto Scam or cryptocurrency scam is a type of investment fraud where criminals steal money from people hoping to invest in the new world of digital currency.
Most crypto assets and associated services aren’t regulated by the Financial Conduct Authority (FCA) for more than money-laundering purposes, which means they’re not protected by the Financial Services Compensation Scheme.
Device Takeover (DTO) fraud
Device Takeover is unauthorized access to a user’s device in order to manually or automatically control the device and its appsApps Applications or Apps An application (software), commonly referred to as an ‘app’ is a program on a computer, tablet, mobile phone or device. Apps are designed for specific tasks, including checking the weather, accessing the internet, looking at photos, playing media, mobile banking, etc. Many apps can access the internet if needed and can be downloaded (used) either for a price or for free. Apps are a major point of vulnerability on all devices. Some are designed to be malicious, such as logging keystrokes or activity, and others can even transport malware. Always be careful about any app you are thinking about installing.. Devices can become fully compromised when the user installs an innocent-looking app that contains malwareMalware Short for "malicious software," this term means computer viruses and other types of programs that cybercriminals use to disrupt or access your computer, typically with the aim of gathering sensitive files and accounts., or by installing a Remote Access Tool (RAT). Once the device is taken over, attackers can engage in various types of abuse, including credential theft, acquiring 2FA tokens using screen/keystroke capturing, or executing a fraudulent transaction.
First Party FraudFirst party fraud First party fraud refers to fraud committed against an institution by one of its own customers. First party fraud can extend from transaction fraud to application fraud with the core element being the actual customer engaging in the fraudulent activity.
First-party fraud refers to fraud committed against an institution by one of its own customers. First-party fraud can extend from transaction fraudTransaction fraud Transaction fraud is the unauthorized execution of any monetary transaction. Transaction fraud can include different payment types including cards (debit and credit), non-plastic forms of payment (ACH, Zelle, Wire, Faster Payments, etc.) and other payment methods. to application fraud with the core element being the actual customer engaging in the fraudulent activity.
Fraud Fams
Fraud Farms or click farms are groups that work on fraud attacks at scale. Normally they have limited resources used for large-scale fraud schemes and they get paid by carrying out the same action several times.
Friendly FraudFriendly fraud Friendly fraud is a type of first party fraud. Friendly fraud can take many forms, but typically involves an actual consumer obtaining goods or services from a merchant, then claiming they did not make the purchase, did not receive the goods, or only received a fraction of items, in order to keep the goods or services without paying for them.
Friendly fraud is a type of first-party fraud. Friendly fraud can take many forms, but typically involves an actual consumer obtaining goods or services from a merchant, then claiming they did not make the purchase, did not receive the goods, or only received a fraction of items, in order to keep the goods or services without paying for them.
Hybrid fraud
Hybrid fraud is a generic term for sophisticated fraud that is based on the combination of two or more fraud variants.
Job Scam
A job scam occurs when a scammerScammer A Scammer or Fraudster is someone that engages in deception to obtain money or achieve another objective. They are criminals that attempt to deceive a victim into sending more or performing some other activity that benefits the scammer. poses as an employer or recruiter and offers attractive employment opportunities, which require the job seeker to pay some money in advance. This is usually under the guise of work visas, travel expenses, or credit checks that are required for the job. The scammer promises you a job, but what they want is your money and your personal information.
Investment fraud
Investment fraud involves the illegal sale or purported sale of financial instruments. The typical investment fraud schemes are characterized by offers of low- or no-risk investments, guaranteed returns, overly-consistent returns, complex strategies, or unregistered securities. Examples of investment fraud include advance fee fraudAdvance Fee Fraud An advance fee scam or fraud is a form of fraud and is one of the most common types of online confidence tricks. The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster claims will be used to obtain the large sum. If a victim makes the payment, the fraudster either invents a series of further fees for the victim or simply disappears., Ponzi schemesPonzi Schemes A Ponzi scheme is a type of investment fraud. Use this information to identify, report, and protect yourself against this type of scam., pyramid schemesPyramid Schemes Pyramid schemes are scams that need a constant flow of new participants to keep them going. They are marketed as multi-level marketing programs or other types of legitimate businesses. They use new recruits’ "investments" to pay “profits” to those participating longer. Pyramid schemes collapse when they can't recruit enough new participants to pay earlier investors. These scams always fail—it’s mathematically guaranteed., and market manipulation fraud.
Insurance FraudInsurance fraud Insurance fraud is any act committed to defraud an insurance process and/or institution. Insurance fraud occurs when a claimant attempts to obtain some benefit or advantage they are not entitled to, or when an insurer knowingly denies some benefit that is due.
Insurance fraud is any act committed to defraud an insurance process and/or institution. Insurance fraud occurs when a claimant attempts to obtain some benefit or advantage they are not entitled to, or when an insurer knowingly denies some benefit that is due.
Money MulesMoney mules Money mules are a type of money laundering where a person transfers illicit funds through a medium (such as a bank account) to obfuscate where the money came from. There are different types of money mules including witting, unwitting, and complicit.
Money mules are a type of money launderingMoney laundering Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions. Money laundering can be done through various mediums, leveraging a variety of payment vehicles, people and institutions. where a person transfers illicitillicit Illicit means something that is not legally permitted or authorized under the law; unlicensed; unlawful. It can also mean disapproved of or not permitted for moral or ethical reasons. funds through a medium (such as a bank account) to obfuscate where the money came from. There are different types of money mules including witting, unwitting, and complicit.
Invoice Scams
They are bogus invoices generated by cyber crooks all to separate you from your personal information or money. First type of fake invoice scamFake Invoice Scam This scam targets businesses. Scammers attempt to fool employees into paying for products that the business did not order and that may not even exist. Fake invoices are often for office supplies, website or domain hosting services and directory listings. is the click bait. The email seemingly has an invoice attached. But when you click on it, malware is downloaded onto your system and this can lead to ID theft.
Money Laundering
Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions. Money laundering can be done through various mediums, leveraging a variety of payment vehicles, people and institutions.
Loyalty AbuseLoyalty abuse Loyalty abuse occurs when someone abuses the loyalty program terms of service (TOS) to obtain significant discounts or sell for a profit. This evolves into Loyalty Fraud when a fraudster takes over an account to steal loyalty points and sell them/use them for profit.
Loyalty abuse occurs when someone abuses the loyalty program terms of service (TOS) to obtain significant discounts or sell for a profit. This evolves into Loyalty Fraud when a fraudster takes over an account to steal loyalty points and sell them/use them for profit.
Online Shopping Scams
Online shopping scams happen when scammers pretend to be online sellers with a fake website. They can also use a genuine retailer name on their accounts. They offer, in general, brands and luxurious products with cheaper prices, and the buyer after paying never gets the purchase delivered.
Payment FraudPayment Fraud Payment Fraud (Non-Plastic) The fraud definitions for payment fraud are confusing unless you specify “non-plastic”. Payment Fraud (non-plastic) refers to payments made outside of card networks, via payments rails that send funds from one bank account to another. When making this type of payment, fraud occurs when a payments is sent to an account that the fraudster controls. Payment fraud can be unauthorized, which is commonly executed as an account takeover. Payment fraud can also be authorized, which is commonly executed through authorized push payment fraud (scams).
Payment fraud occurs when someone steals another person’s payment information and uses it to make unauthorized transactions or purchases. The actual cardholder or owner of the payment information then notices their account being used for transactions or purchases they did not authorize, and raises a dispute.
Payment Fraud (Non-Plastic)
The fraud definitions for payment fraud are confusing unless you specify “non-plastic”. Payment Fraud (non-plastic) refers to payments made outside of card networks, via payment rails that send funds from one bank account to another. When making this type of payment, fraud occurs when a payment is sent to an account that the fraudster controls. Payment fraud can be unauthorized, which is commonly executed as an account takeover. Payment fraud can also be authorized, which is commonly executed through authorized push payment fraud (scams).
Phishing
The fraudulent practice of sending emails purporting to be from reputable companies in order to induce individuals to reveal personal information, such as passwords and credit card numbers.
Promo AbusePromo abuse Promo abuse is the abuse of promotional offers by circumventing the terms of service (TOS) in order to obtain significant discounts.
Promo abuse is the abuse of promotional offers by circumventing the terms of service (TOS) in order to obtain significant discounts.
RansomwareRansomware Ransomware is a type of malware from cryptovirology that threatens to publish the victim's personal data or perpetually block access to it unless a ransom is paid. While some simple ransomware may lock the system so that it is not difficult for a knowledgeable person to reverse, more advanced malware uses a technique called cryptoviral extortion. It encrypts the victim's files, making them inaccessible, and demands a ransom payment to decrypt them. In a properly implemented cryptoviral extortion attack, recovering the files without the decryption key is an intractable problem – and difficult to trace digital currencies such as paysafecard or Bitcoin and other cryptocurrencies that are used for the ransoms, making tracing and prosecuting the perpetrators difficult. Ransomware attacks are typically carried out using a Trojan virus disguised as a legitimate file that the user is tricked into downloading or opening when it arrives as an email attachment. However, one high-profile example, the WannaCry worm, traveled automatically between computers without user interaction.
Ransomware is malware designed to deny a user or organization access to files on their computer. By encrypting these files and demanding a ransomRansom A ransom is an amount of money or other assets of value that is paid for blackmail, extortion, or under other threats or coercion. The ransom is usually paid in cash or now in cryptocurrency. Online blackmail, sextortion, and ransomware all demand ransoms to avoid negative outcomes. payment for the decryption key, these malware places organizations in a position where paying the ransom is the easiest and cheapest way to regain access to their files.
Refund FraudRefund fraud Refund fraud occurs when bad actors take advantage of a merchant’s return policy in order to profit or get goods for free. Refunding fraud is a twist on friendly fraud that is particularly challenging for merchants because there are no associated chargebacks, yes the losses are significant.
Refund fraud occurs when bad actors take advantage of a merchant’s return policy in order to profit or get goods for free. Refunding fraud is a twist on friendly fraud that is particularly challenging for merchants because there are no associated chargebacksChargebacks Chargebacks are a forced payment reversal process where consumers can contact their bank and dispute a transaction for a refund. Banks typically review the transaction and issue provisional credit in the consumer’s favor., yes the losses are significant.
Reseller AbuseReseller abuse Reseller abuse includes purchasing large quantities of products in an effort to resell the items for a profit. While reselling is a common practice, abuse can damage a client’s brand, deplete product availability for other customers, and violate terms of service (TOS).
Reseller abuse includes purchasing large quantities of products in an effort to resell the items for profit. While reselling is a common practice, abuse can damage a client’s brand, deplete product availability for other customers, and violate terms of service (TOS).
Romance Scam
A romance scam is a confidence trickConfidence trick A Scam is a confidence trick - a crime - is an attempt to defraud a person or group after first gaining their trust through deception. Scams or confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, irresponsibility, or greed and exploiting that. Researchers have defined confidence tricks as "a distinctive species of fraudulent conduct ... intending to further voluntary exchanges that are not mutually beneficial", as they "benefit con operators ('con men' - criminals) at the expense of their victims (the 'marks')". A scam is a crime even if no money was lost. involving feigning romantic intentions towards a victim, gaining their affection, and then using that goodwill to get the victim to send money to the scammer under false pretenses or to commit fraud against the victim.
Social EngineeringSocial Engineering Social engineering is the psychological manipulation of people into performing actions or divulging confidential information. It is used as a type of confidence trick for the purpose of information gathering, fraud, or system access, it differs from a traditional "con" in that it is often one of many steps in a more complex fraud scheme. It has also been defined as "any act that influences a person to take any action that may or may not be in their best interests."
Social engineering is the psychological manipulation of another person by preying on emotions and vulnerabilities in order to extract information or convince he/she to take a desired action. Social engineering can be the initial layer of other fraud types such as account takeovers and authorized push payment fraud (scams).
Synthetic Identity FraudSynthetic identity fraud Synthetic identity theft, or synthetic identity fraud, occurs when a criminal creates an identity instead of stealing an existing one. The scam involves mixing real Social Security numbers, or fake numbers, with other pieces of information—names, addresses, and birthdates—to put together an entirely new identity, often using partially fake identity information. In contrast, the more familiar form of identity theft involves using the actual name, Social Security number, and other personal data of a single victim.
Is the use of a combination of personally identifiable information (PII) to fabricate a person or entity in order to commit a dishonest act for personal or financial gain.
Telephone-Oriented Attack Delivery
Telephone Oriented Attack Delivery is an initial access tactic where fraudsters mimic a bank (or other known institute) and convince the victim to install a Remote Access Tool (RAT) or app that contains malware. At a later stage, the now fully compromised user device can be used by the attacker to commit Device Takeover (DTO) fraud or Identity fraud.
Third-Party Fraud
Third-party fraud is when a fraudster leverages stolen information (PII, payment, etc.) to commit fraud (application, payment, card, etc) without the authorization of the owner of that information.
Transaction Fraud
Transaction fraud is the unauthorized execution of any monetary transaction. Transaction fraud can include different payment types including cards (debit and credit), non-plastic forms of payment (ACH, Zelle, Wire, Faster Payments, etc.) and other payment methods.
Financial Fraud Terms: Miscellaneous
Authentication
Authentication is a process that determines or recognizes a user’s identity. It’s a technology focused on bringing accurate information about people’s identity in order to confirm that the right person is trying to access a system, website, software, etc.
Breach Sites
A “breach” is an incident where data is inadvertently exposed in a vulnerable system, usually due to insufficient access controls or security weaknesses in the software. HIBP aggregates breaches and enables people to assess where their personal data has been exposed.
CybercrimeCybercrime Cybercrime is a crime related to technology, computers, and the Internet. Typical cybercrime are performed by a computer against a computer, or by a hacker using software to attack computers or networks. / Cyber-fraud
Cyber fraud is the crime committed via a computer with the intent to corrupt another individual’s personal and financial information stored online. Fraudsters can use the information they gather to then financially fund themselves, or worryingly they might use this money to fund terrorism.
Chargebacks
Chargebacks are a forced payment reversal process where consumers can contact their bank and dispute a transaction for a refund. Banks typically review the transaction and issue provisional credit in the consumer’s favor.
Cybersecurity
Computer security, cybersecurity, or information technology security (IT security) is the protection of computer systems and networks from information disclosure, theft of or damage to their hardware, software, or electronic data, as well as from the disruption or misdirection of the services they provide
Fraudsters
A fraudster is someone who commits fraud and/or abuse, often to achieve monetary gain. Fraudster is often a blanket term used to refer to many different types of fraud, money laundering, and nefarious activity committed by criminals.
KYC
The know your customer or know your client guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship. The procedures fit within the broader scope of a bank’s anti-money laundering policy.
Malicious Domain
These are websites or URLs that fraudster creates to induce users to visit and input personal information. Usually, the websites are very similar to the original URLs.
PSD2
PSD2 is an EU Directive, administered by the European Commission to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). Two of the large focuses of PSD2 center around open banking and SCA (Stronger Customer Authentication).
Scammers
Scammers can come in many forms, but their main purpose is to gain the trust of someone in order to convince them to take the desired action. This can include clicking on links, divulging sensitive information or sending a payment to an account they control.
SCA (Stronger Customer Authentication)
SCA is a requirement of PSD2 on payment service providers within the European Economic Area. The requirement ensures that electronic payments are performed with multi-factor authentication, to increase the security of electronic payments.
UBO
The Ultimate Beneficial Owner, shortly known as UBO, defines the company’s beneficiary’s legal entity. According to the regulator, banks, investment, insurance, and other financial companies must disclose the UBO for various reasons. One of the reasons for this is to prevent serious crimes such as money laundering and terrorist financing. The lack of disclosure of UBOs paves the way for people to launder money through companies. Therefore, countries should pay attention to UBO in the fight against money laundering and terrorist financing.
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Our managed peer supportPeer support Peer support occurs when people provide knowledge, experience, emotional, social or practical help to each other. It commonly refers to an initiative consisting of trained supporters and can take a number of forms such as peer mentoring, reflective listening (reflecting content and/or feelings), or in a support group. Peer support is also used to refer to initiatives where colleagues, members of self-help organizations and others meet, in person or online, to give each other connection and support on a reciprocal basis. Peer support is distinct from other forms of social support in that the source of support is a peer, a person who is similar in fundamental ways to the recipient of the support; their relationship is one of equality. A peer is in a position to offer support by virtue of relevant experience: he or she has "been there, done that" and can relate to others who are now in a similar situation. Trained peer support workers such as SCARS Volunteers receive special training and may be required to obtain Continuing Education Units, similar to clinical staff. Some other trained peer support workers may also be law-enforcement personnel and firefighters as well as emergency medical responders. groups allow victims to talk to other survivorsSurvivor A Scam Survivor is a victim who has been able to fully accept the reality of their situation. That they were the victim of a crime and are not to blame. They are working on their emotional recovery and reduction of any trauma either on their own, through a qualified support organization, or through counseling or therapy. And has done their duty and reported the crime to their local police, national police, and on Anyscam.com and recover in the most experienced environment possible, for as long as they need. Recovery takes as long as it takes – we put no limits on our support!
SCARS is the most trusted support & education provider in the world. Our team is certified in trauma-informedTrauma-Informed Trauma-informed care shifts the focus from “What’s wrong with you?” to “What happened to you?” A trauma-informed approach to care acknowledges that health care needs to have a complete picture of a patient’s life situation — past and present — in order to provide effective care services with a healing orientation. Adopting trauma-informed practices can potentially improve patient engagement, treatment adherence, and health outcomes. care, grief counselingCounseling Counseling is the professional guidance of the individual by utilizing psychological methods especially in collecting case history data, using various techniques of the personal interview, and testing interests and aptitudes. A mental health counselor (MHC), or counselor, is a person who works with individuals and groups to promote optimum mental and emotional health. Such persons may help individuals deal with issues associated with addiction and substance abuse; family, parenting, and marital problems; stress management; self-esteem; and aging. They may also work with "Social Workers", "Psychiatrists", and "Psychologists". SCARS does not provide mental health counseling., and so much more!
To apply to join our groups visit support.AgainstScams.org
We also offer separate support groupsSupport Groups In a support group, members provide each other with various types of help, usually nonprofessional and nonmaterial, for a particular shared, usually burdensome, characteristic, such as romance scams. Members with the same issues can come together for sharing coping strategies, to feel more empowered and for a sense of community. The help may take the form of providing and evaluating relevant information, relating personal experiences, listening to and accepting others' experiences, providing sympathetic understanding and establishing social networks. A support group may also work to inform the public or engage in advocacy. They can be supervised or not. SCARS support groups are moderated by the SCARS Team and or volunteers. for family & friends too.
Become a
SCARS STAR™ Member
SCARS offers memberships in our STAR program, which includes many benefits for a very low annual membership fee!
SCARS STAR Membership benefits include:
- FREE Counseling or Therapy Benefit from our partner BetterHelp.com
- Exclusive members-only content & publications
- Discounts on SCARS Self-Help Books Save
- And more!
To learn more about the SCARS STAR Membership visit membership.AgainstScams.org
To become a SCARS STAR Member right now visit join.AgainstScams.org
To Learn More Also Look At Our Article Catalogs
SCARS Printed Books For Every Scam SurvivorSurvivor A Scam Survivor is a victim who has been able to fully accept the reality of their situation. That they were the victim of a crime and are not to blame. They are working on their emotional recovery and reduction of any trauma either on their own, through a qualified support organization, or through counseling or therapy. And has done their duty and reported the crime to their local police, national police, and on Anyscam.com From SCARS Publishing
Visit shop.AgainstScams.org
Each is based on our SCARS Team’s 32 plus years of experience.
SCARS Website Visitors get an Extra 10% Discount
Use Discount Code “romanacescamsnow” at Checkout
SCARS GREEN BOOK
Self-Help Self-Paced Recovery Program Guide
LEARN HOW TO RECOVER ON YOUR OWN
This program is designed to help scam victims struggling to recover on their own and for those who want to understand the overall process. You can be using other resources, such as traumaTrauma Emotional and psychological trauma is the result of extraordinarily stressful events that shatter your sense of security, making you feel helpless in a dangerous world. Psychological trauma can leave you struggling with upsetting emotions, memories, and anxiety that won’t go away. It can also leave you feeling numb, disconnected, and unable to trust other people. Traumatic experiences often involve a threat to life or safety or other emotional shocks, but any situation that leaves you feeling overwhelmed and isolated can result in trauma, even if it doesn’t involve physical harm. It’s not the objective circumstances that determine whether an event is traumatic, but your subjective emotional experience of the event. The more frightened and helpless you feel, the more likely you are to be traumatized. Trauma requires treatment, either through counseling or therapy or through trauma-oriented support programs, such as those offered by SCARS. counseling or therapy, qualified support groups, or completely independent – on your own!
The SCARS Steps program is a complete program and is provided for the purpose of helping scam victims to overcome this experience. Throughout this SCARS Steps Program, we speak about issues and challenges that a victim may have and help guide them through their recovery. But each person is different and it is important to understand your own reasons for being vulnerable to being scammed.
After the trauma of being scammed, you need to take steps to recover and move on. This may be an alternative to counseling in the short term, but we still encourage you to seek out professional help & support. Throughout this SCARS Steps Program, we speak about issues, challenges, defects, or problems that a victim may have in a generalized way.
The SCARS GREEN BOOK will help you recover from your scam offline and it will always be there when you need it!
SCARS SLATE BOOK – Let Us Explain What Happened!
A Guide For Families & Friends Of Scam Victims
HOW TO HELP ROMANCE SCAM VICTIMS FOR FAMILIES & FRIENDS OF SCAM VICTIMS
This SCARS Publishing book represents a complete guide to help the families and friends understand how these scams work and how to help the victim.
The SCARS Slate Book should be purchased by family and friends to better understand what happened to the victim and the traumatic impact on them. But it can also be shared by the victim so that they do not have to explain to family and friends about the scam. This publication is to help others to help Scam Victims to make it through this traumatic experience and recover.
Each person is different and it is important to understand how relationship scamsRelationship Scam A Relationship Scam is a one-to-one criminal act that involves a trust relationship and uses deception & manipulation to get a victim to give to the criminal something of value, such as money! Click here to learn more: What Is A Relationship Scam? work and why people are vulnerable; to being scammed, how they were lured in, then groomed and manipulated. This understanding is essential in helping them through the process of ending the scam and then on to recovery. The SCARS Slate Book will provide the information necessary to help support a victim through this process.
SCARS RED BOOK
Your Personal Scam Evidence & Crime Record Organizer
ORGANIZE YOUR INFORMATION TO MAKE THE REPORTING PROCESS SIMPLE!
Helps you get and stay organized. This publication is to help Scam Victims organize their crime information. Complete this information before reporting to the police then bring this book with you
Before or after reporting to the police the RED BOOK gives you a dedicated tool to record all the essential facts of this crime. The Victim, the Scammers, the Money, and your Police interactions. Everything that really matters can be easily recorded for your immediate use and for the future!
As we have seen, money recovery/repayment programs can become available years after the scam ends and you need to keep all the details of this crime in case it is needed. We have also seen scammers being extradited to the U.S. and other countries, this will help in the event you testify or give statements, Additionally, this helps you have your information ready to qualify for victims’ benefits, compensation, or aid.
The Official SCARS RED BOOK is your way of recording all the important facts of this crime so that you do not lose essential information, Complete the RED BOOK then put it away with the confidence that you will have it if or when it is needed.
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Your generous purchase allows us to maintain our scam avoidance, support, and recovery services. Please help SCARS and stand proud.
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