Fraud Pros Become Victims in Experimental Online Scam

Fraud Pros Become Victims in Experimental Online Scam

November 29, 2018

Earlier this month during International Fraud Awareness Week (Nov. 11-17), the Association of Fraud Examiners and identity company Trulioo teamed up to see how susceptible even tech-savvy, security-minded individuals were to fraud. The experiment set up a fake website for a non-existent company that asked the subjects to sign up for an offer by entering their personal information.

Out of more than 2,000 people who responded to the fake advertisement, 66 entered their name and email address to sign up. While that amounts to only 3 percent of respondents, the ad targeted those who should be most on the lookout for fraud. Had this been a real online scam, some of the most educated people in the fraud and security world would have willingly given their personal information to a fraudster—a lesson to even the most conscientious fraud professionals among us.

"The results from this campaign show that people are so accustomed to communicating and transacting online that they often become vulnerable to new and sophisticated fraud schemes," said Zac Cohen, general manager at Trulioo. "It's not just individuals that are susceptible; even businesses are increasingly at risk of being exposed to fraud. Before giving away your information, it's imperative that you vet the individuals, business entities that you intend to transact with; similarly, do your due diligence on the legitimacy of the websites or applications that you intend to use."


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