The Conversation U.S.
Criminal gangs are stealing and laundering billions through sham bank accounts, using 100s of 1000s of fake and real identities – possibly including yours. @kurteichenwald led a 4-month investigation that revealed: (🧵)
https://theconversation.com/us/investigations/mailbox-robberies-drop-accounts-checkwashing-fraud-gangs-of-fullz #news #fraud #fullz #CyberCrime
Heists worth billions: sham bank accounts, secret online marketplaces and too little being done to stop it - The Conversation

An investigation into online marketplaces reveals the simplicity of stealing from almost anyone; and just how little is done to combat the fraud.

Jun 21, 2023 at 5:16pmWeb
Show threadThe Conversation U.S.Jun 21, 2023
Our investigation revealed an enormous growth in these forms of fraud, with the fraudsters becoming increasingly sophisticated and law enforcement failing to meet the challenge.
Show threadThe Conversation U.S.Jun 21, 2023

Researchers from the Evidence-Based #Cybersecurity Research Group at Georgia State University penetrated the secret online channels used by the criminals and put them under surveillance for months.

The investigation follows the cycle of crime, which starts with the theft of arrow keys from mail carriers. Each key unlocks hundreds of mailboxes, which can then be pilfered.

Show threadThe Conversation U.S.Jun 21, 2023
An essential link in the chain: sham accounts opened at big banks, which have found it extremely profitable to make it easy to open accounts without looking too hard at the identities of their customers.
Show threadThe Conversation U.S.Jun 21, 2023

Read the full investigation:
https://theconversation.com/us/investigations/mailbox-robberies-drop-accounts-checkwashing-fraud-gangs-of-fullz

Find out how to protect your money:
https://theconversation.com/how-to-protect-yourself-from-drop-account-fraud-tips-from-our-investigative-unit-206840

Heists worth billions: sham bank accounts, secret online marketplaces and too little being done to stop it - The Conversation

An investigation into online marketplaces reveals the simplicity of stealing from almost anyone; and just how little is done to combat the fraud.

Show threadThe Conversation U.S.Jun 21, 2023
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Show threadGlobaltomJun 21, 2023
@TheConversationUS @kurteichenwald cheques need to die. Free e-transfers need to be standard in all normal personal bank accounts.
Show threadFight Fascism #RESISTJun 23, 2023
@kurteichenwald @TheConversationUS #FireDeJoy