Frank Takes: How Banks Solved the Check Fraud Boom of the 1970s
Frank Takes is a quick summary of insights and findings from the popular industry blog Frank on Fraud, written by renowned fraud expert Frank McKenna, co-founder and Chief Fraud Strategist at Point Predictive. Fraud history often repeats itself, and the 1970s serve as a prime example of this phenomenon. Amidst economic recession and inflation, the […]
Frank Takes: As Zelle Grows, Fraud and Scams Exposure is Up Too
Frank Takes is a quick summary of insights and findings from the popular industry blog Frank on Fraud, written by renowned fraud expert Frank McKenna, co-founder and Chief Fraud Strategist at Point Predictive. Zelle saw a significant surge in payment volumes in 2023, with consumers and small businesses conducting 2.9 billion transactions totaling $806 billion—a […]
Frank Takes: Lone Wolf Fraud Fighters, You Are Not Alone
Frank Takes is a quick summary of insights and findings from the popular industry blog Frank on Fraud, written by renowned fraud expert Frank McKenna, co-founder and Chief Fraud Strategist at Point Predictive. Janice is a fraud manager who manages fraud, not people. She’s a one-person department, battling a growing queue of fraud cases and […]
Fraud Fighters Recognize Memphis as the City with the Biggest Surge in Synthetic Identity Fraud
We recently conducted a LinkedIn poll to see how well our community of fraud fighters could identify the city with the biggest growth in synthetic identity fraud rates from 2022 to 2023. The options were Detroit, Las Vegas, and Memphis. Here’s how the 39 participants voted: The majority of our knowledgeable audience got it right! […]
Frank Takes: Scam Interdiction. Banks Battle Scams with Tough Love
Frank Takes is a quick summary of insights and findings from the popular industry blog Frank on Fraud, written by renowned fraud expert Frank McKenna, co-founder and Chief Fraud Strategist at Point Predictive. Banks around the world are adopting a proactive approach called Scam Interdiction to combat scams. Instead of merely reimbursing victims, they are […]
Frank Takes: 11 Frauds and Scams that will be Supercharged with AI
Frank Takes is a quick summary of insights and findings from the popular industry blog Frank on Fraud, written by renowned fraud expert Frank McKenna, co-founder and Chief Fraud Strategist at Point Predictive. Artificial Intelligence (AI) is set to enhance existing frauds and scams while also creating unprecedented new ones. Here are eleven scams that […]
How High Interest Rates Propel Borrower Fraud in Auto Financing
As interest rates climb and credit tightens, prospective auto loan borrowers are increasingly resorting to fraudulent tactics to secure loans. This alarming trend not only poses significant risks to lenders but also casts a shadow over the entire auto industry. According to recent findings from autoremarketing.com, the Cox Automotive Dealertrack Auto Credit Availability Index has signaled […]
Frank on Fraud: Founder fraud and the lessons learned
Changing market conditions have revealed an abundance of founder fraud, resident fraud expert Frank McKenna recently wrote in his blog, Frank on Fraud The early 2020s witnessed a remarkable period of expansion in the Fintech sector, characterized by a flurry of investment activity and soaring valuations. This era was marked by a buoyant atmosphere, akin […]
Frank on Fraud’s Predictions: 11 Trends to Look for in 2024
Each year, Point Predictive’s Frank McKenna teams up with Mary Ann Miller, of the identity verification platform Prove, and Karisse Hendrick, of Chargelytics Consulting, to discuss what they anticipate to be the upcoming year’s fraud trends. From tactics to targets, learn what some of the industry’s most prominent experts are thinking about as we enter […]
Spotting Fake Employer Scammers Before They Attack
Point Predictive’s Chief Fraud Strategist Frank McKenna recently penned a commentary piece for Auto Remarketing, a periodical covering the pre-owned auto industry. In it, he discusses the rise of shell companies and fake employer scams and how Point Predictive’s approach can combat them. Fake employers have become an increasingly vexing problem for financial institutions and […]
