Millennials and New Online Fraud Techniques

In a recent article for Property Casualty 360, Beacon CEO Mike Orchard explains how young “millennial” fraudsters are utilizing new technology to commit fraud and other cyber-crimes — and how they have learned to cover their tracks online to remain anonymous.

He observes: “Young people are no more corrupt than baby boomers, but the younger generation has far more advanced technical skills than the greying population and some are using those talents to commit criminal acts.”

It can be difficult for insurance executives and security professionals to keep pace with the constant push of emerging technologies, and their role in an expanding digital black market. Yet while young, tech-savvy fraudsters may be quick to adopt the latest online and mobile tools — from web anonymizers to digital currencies to encrypted communications — they can also be caught with diligent investigative work that mixes both computer forensics and standard fraud investigation practices.

Read the entire article here.

Mike Orchard is president and CEO of Beacon Investigative Solutions, a national investigation agency with headquarters in Columbus, Ohio. Beacon specializes in fraud investigations, surveillance, background and corporate investigations. Beacon is licensed in 45 states and Washington, D.C. Mike can be reached at morchard@beaconinvestigation.com or 800-535-2136.