Hard Fraud vs. Soft Fraud

Counting the cost of America’s insurance fraud epidemic

Property Casualty 360

For those who work in the insurance industry, there are so many tales relating to insurance fraud. From slip and falls to arson and murder for life insurance policies, there is no end to the creativity of fraudsters who cost American consumers upwards of $80 billion dollars per year. After narcotics trafficking, insurance fraud is the largest criminal enterprise in the United States. Not surprisingly, the two are often interrelated.

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Peer-to-Peer Finance Apps in the Palm of Your Hand

The Risky Boom In Carefree Social Payment Apps


Venmo, a peer-to-peer finance app, handled $906 million in transactions in the fourth quarter of 2014. While Venmo is growing in popularity, the company's reputation took a hit earlier this year when two high-profile fraud cases hit the news. The company was criticized for what was seen as a slow response to security flaws.

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Mystery Ingredients

Private eyes in the grocery aisles

The New York Times 

Mansour Samadpour makes his way through the supermarket like a detective working a crime scene, slow, watchful, up one aisle and down the next. A clerk mistakenly assumes that he needs help, but Mr. Samadpour brushes him off. He knows exactly what he’s doing.

He buys organic raspberries that might test positive for pesticides and a fillet of wild-caught fish that might be neither wild nor the species listed on the label. He buys beef and pork ground fresh at the market. He is disappointed that there is no caviar, which might turn out to be something cheaper than sturgeon roe. That’s an easy case to crack.

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Wall Street's Hottest Investment: Collaterlized Loan Obligations

Case against 'Diva of Distressed' exposes problems in a hot Wall Street market


Lynn Tilton is one of a number of managers of collaterlized loan obligations, which is a type of structured investment vehicle that is growing but also facing new scrutiny from the SEC.

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The Dread Pirate Roberts vs. The French Maid

DEA agent charged with acting as a paid mole for Silk Road


Nearly 18 months after the Silk Road online drug market was busted by law enforcement, the criminal charges rippling out from the case have now come full circle: back to two of the law enforcement agents involved in the investigation, one of whom is accused of being the Silk Road’s mole inside the Drug Enforcement Agency.

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Alzheimer's or Conspiracy?

Tax Fraud Draws 6 1/2 Year Prison Term Despite Alzheimer's


Margaret Mathes, a 67-year-old Massachusetts woman, has been sentenced to 6 ½ years in prison for tax crimes, and then another three years of supervised release. Her attorney asked for leniency because of her Alzheimer’s disease, but that didn’t seem to help. It may have even backfired. Ms. Mathes plead guilty over charges arising out of an eight-year tax fraud from a temporary employment agency that hid more than $5 million in taxes from the IRS.

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