Today, I post the final 20 pages of Yegate’s “Definitive Encyclopedia of Fraud”. Covered in this final section is #Stripe, #Paypal, #Venmo, and others–along with some closing words by the author.
I was planning on commenting at length regarding Stripe and some of the other things Yegate mentions. Readers are welcome to read over my blog at http://www.anglerphish.com for a more in depth breakdown of defrauding Stripe, Square, and others. Basically, the process now is to steal someone’s identity, set up a business under that identity, get all matching bank accounts under it, age it, commit fraud. Bit more in depth than that, but that is basically it. Yegate says the crime isn’t as easy as it used to be. He is correct, but one needs to understand his frame of reference. Previously, it was easy for a fraudster to cash out $20,000 plus weekly per Stripe account. Now, a fraudster must set up multiple accounts to realize that much profit. Still easy, just more involved.
I’ve gotten a lot of flack from the bad guys because of publishing this Encyclopedia. Many are unhappy that I’m releasing this information. Their reasoning is that it will kill the techniques Yegate discusses. Such is my intention. There are a good many fraudsters that are happy to see me publishing this text as well. They know this is largely a starting point for fraud and they can build off the ideas presented. Some might think I’m helping the bad guys. I don’t think so. These guides and the type of information is readily available on the darknet. The bad guys already know where to find it.
The problem is, I’m not sure a lot of the good guys know about this. Oh, they know they are being hit by fraud, but I’m not sure they appreciate the detailed work a fraudster goes to in order to commit crime. This guide illustrates this type of work and research.
In the coming days, I will also be writing short blocks discussing some of the things Yegate details.
Here we go, Yegate’s Encyclopedia Final Part:
Thus finished Yegate’s write up. Important to note that Yegate also teaches Fraud classes. For $600, Yegate offers a multiweek class which teaches aspiring fraudsters to commit specific crimes. Classes are given in real time and Yegate walks the student through exactly how to commit fraud. This may come as a surprise to Anti-Fraud people, but classes and tutorials are a common element of organized #cybercrime
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#fraud #darknet #identity theft #credit cards