Matthew Cox | Inside True Crime Podcast
FBI’s Most Wanted Cybercriminal Exposes Today’s Biggest Scams
Sat, 21 Dec 2024
Matt and Brett talk about many scams including chargebacks911 and Frank Abagnale. Brett's Channel https://www.youtube.com/@UCu9abuJiEXwNPecsZGqHXpQ Follow me on all socials! Instagram: https://www.instagram.com/insidetruecrime/ TikTok: https://www.tiktok.com/@mattcoxtruecrime Do you want to be a guest? Send me an email here: [email protected] Do you want a custom "con man" painting to shown up at your doorstep every month? Subscribe to my Patreon: https: //www.patreon.com/insidetruecrime Do you want a custom painting done by me? Check out my Etsy Store: https://www.etsy.com/shop/coxpopart Listen to my True Crime Podcasts anywhere: https://anchor.fm/mattcox Check out my true crime books! Shark in the Housing Pool: https://www.amazon.com/dp/B0851KBYCF Bent: https://www.amazon.com/dp/B0BV4GC7TM It's Insanity: https://www.amazon.com/dp/B08KFYXKK8 Devil Exposed: https://www.amazon.com/dp/B08TH1WT5G Devil Exposed (The Abridgment): https://www.amazon.com/dp/1070682438 The Program: https://www.amazon.com/dp/B0858W4G3K Bailout: https://www.barnesandnoble.com/w/bailout-matthew-cox/1142275402 Dude, Where's My Hand-Grenade?: https://www.amazon.com/dp/B0BXNFHBDF/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1678623676&sr=1-1 Checkout my disturbingly twisted satiric novel! Stranger Danger: https://www.amazon.com/dp/B0BSWQP3WX If you would like to support me directly, I accept donations here: Paypal: https://www.paypal.me/MattCox69 Cashapp: $coxcon69
Chapter 1: What are the biggest scams discussed in this episode?
I know something's wrong when someone tells me about a scam and then my first thought is, nice, are you serious? And then I have to catch myself and go, oh wait, hey, whoa, whoa, wait a minute. Don't get to the manager. She's doing this with the ID. Oh, that's, that's, am I, why am I sweating? They pull up your credit card and they go, huh?
And I go, you know, it's everything in me not to go, what? He realizes, wait a second.
I haven't been sentenced yet.
I got caught, like, mid-act. It was actually a Buccaneers cheerleader. I mean, when am I going to get a chance to hit a Buccaneers cheerleader? Buccaneers cheerleader. You got to. I mean, to me, that's like a, you get a pass. I mean, remember, stranger danger. You know, I feel like that book will lose me a lot of people. People will read that and be like, you've got some issues.
Like, it's not, I mean, it is hilarious, though. But it's, yeah, it's disturbing to me. I watched a video of mine the other day, and I thought, damn. You subscribed to your own video. You're good. You should be huge. Yeah, I feel like this should go on its own. This is not what we're here to talk about. This is not what we're talking about.
Well, okay, so we're here to talk about the apathy I'm going through right now, right? Yes. The disappointment, all that bullshit. So... A few things, man. It's like, you know me, I'm the guy who calls out bullshit. I've made a career these days of calling out the bullshit that's going on, both on the bad guy's side and with companies and everything.
So recently, it started with, it started before that, but it started with Blue Acorn and Womply. So there's been a few reports that both of these fintech companies helped to facilitate. What is a fintech company? So not a traditional financial institution, which you are more than familiar with. So this is like PayPal, the people who aren't traditional banks but do banking-type business.
Okay. Would also like payday loans and where they cash advances?
It depends on if they're more online. So you do have some fintech companies that do the payday type stuff that aren't brick and mortar. Okay. So it's more internet based.
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Chapter 2: How do fintech companies contribute to fraud?
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So what year was this you were doing this?
I mean, this was 2000 and up to 2000, 2000, late 2006. OK, but I mean, that same system, same system. Exactly.
It got easier after 2011. Yeah, I see in fraud that was going on.
I was easier at that point. I was going to say, listen, now you can go online and just like. I used to have to make my W-2s and PAs. I used to have to know some math. Now you don't have to know anything. It's like, how much do you make an hour? I don't know. Was it $30? How much does that come to? Oh, 40 hours a week. It'll populate everything for you.
So, and I want to talk about, I want to move over into how criminals actually act in a little bit. But what I wanted to ask you about is how do you fix that problem where you've got these assholes that... care more about putting money in pocket than they do about stopping the problems that are, in your case, literally right in front of them.
I would think some kind of a benefit to them. Like if you were going to make money on reporting that fraud and if it was prosecuted or even catching it, maybe they would. But there's no benefit for him to catch that fraud, that broker to catch that fraud, or even let's say the employees that knew what was going on in those companies that clearly see it, that they know what's going on.
For them to say something isn't beneficial to them. They lose their life or they lose their job. Most likely there's an investigation. It costs them tons of money to go meet with the FBI. They lose days at work. They lose all these things. They get labeled as a snitch or the person that brought this company down. The whistleblower laws are bullshit. Like they don't almost nobody.
Every whistleblower is always screwed up.
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Chapter 3: What is Chargebacks 911 and how does it work?
And that's where we get in a lot of trouble and finally get caught. So what happens is. We had this thing called the, they call it the CVV1 hack. It's not a hack, but that's what it's called. We were spamming all these details. And back then when you launched a phishing attack, you could have 20 fields. You know, you could ask everything in the frigging world and they would answer it.
So we would get complete identity profiles just from one phishing attack.
Because people weren't used to it at that time. They had never seen anything.
So it was a brand new thing.
Right.
They have no clue what's happening. Yeah, you send them an email. It looks like it comes from Bank of America. And they think, oh, my bank. Yeah. What's your account number? Social deal. Mother's made you to get everything right there. So we were getting card numbers and pins as well. And we were using those card numbers to commit CNP fraud. So just online credit fraud. Right.
For you to encode that on a counterfeit card, you have to have complete track to data. So on the back of that credit debit card, The mag stripe there, there are three data tracks. First data track is the customer's name. Second data track, the card number, 16-digit algorithm outside of it. Third data track, indiscriminate data, no one uses it. What's sold is that second track.
Now, back then, we didn't have... that algorithm. We weren't doing skimming. We were just doing phishing is what we were doing. What we found out, though, like I said, in order for you to encode that and take it to an ATM and cash out, you've got to have complete track, too. Back then, none of the banks had implemented the hash, which means you've got the card number, you've got the PIN.
You can take the card number, forward slash, and any 16 digits out the side of it. It would encode. You could take it to an ATM, start pulling cash out. We started doing that. So up until that point, a Carter doing was what year was this? This would have been up through. So that that CVV hack went on from 2001 through 0708. It was when it started to really die down.
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