21–30 of 123 posts
Really surprised at lack duedeligenoe on the part of acquirers, JPM team!!! My immediate reaction to when JPM found out they'd be duped after running an 'email campaign' was, hmmm, maybe well deserved, should have done your homework! I want to put the blame solely on the executives, lawyers and team that drove the acquisition forward. Obviously we can open the floodgates of conspiracy theories. Maybe, some from JPM t…
This exact kind of fraud, is just what AI should be good for. I made 10K fake users for testing the app I'm developing now. I used thispersondoesnotexist.com, and about a half hour's worth of PHP programming, to make an open-ended user generator. I only need 10K users, and it takes about an hour or so to generate them, but I'm sure that this type of thing could be easily scaled. "Hey, ChatGPT, can you give me the SQL…
This has non nefarious uses too. In a b2b context it’s often prohibitively time consuming to generate really good but non-real demo data.
Really surprised at lack duedeligenoe on the part of acquirers, JPM team!!! My immediate reaction to when JPM found out they'd be duped after running an 'email campaign' was, hmmm, maybe well deserved, should have done your homework! I want to put the blame solely on the executives, lawyers and team that drove the acquisition forward. Obviously we can open the floodgates of conspiracy theories. Maybe, some from JPM t…
One of the issues was that "she could not share her customer list due to privacy concerns". So maybe JPM could have pushed back against that more?
"""Javice also cited privacy concerns in sharing Frank’s customer data directly with JPMC. After numerous internal conversations, and in order to allay Javice’s concerns, JPMC agreed to use a third-party data management vendor, Acxiom, to validate Frank’s customer information rather than providing the personal identifying information directly to JPMC."""
When are people going to learn you can't "fake it until you make it" anymore. "Allegedly" She's going to go to jail now.
> began to question the authenticity of the startup's purported 4 million users after an email marketing campaign ended in "disaster," according to the bank's lawsuit and a filing by prosecutors. Out of 400,000 emails sent to Frank users, more than 70% bounced back and only 103 were opened, the bank claimed. This seems entirely inevitable since the emails were largely not actual customers… Very strange.
$175M could have easily paid for a bunch of domains to run MX servers. You don’t even have to keep the email. Just accept it and send it to /dev/null. Maybe a fancier scam would be parsing for links and randomly fetching them with headless chrome. But I doubt that’d be required.
You don't think it would be at all suspicious that most of the emails in the customer list are using weird custom domains rather than the popular ones like gmail.com or outlook.com?
How much due diligence really occurred here? I have no problem with charges being filed, but seriously... it's not like the buyer was some kind of low-budget mom and pop shop or community bank. I'm just not very sympathetic to JPMorgan for being scammed in a situation where being wary should be standard.
Really surprised at lack duedeligenoe on the part of acquirers, JPM team!!! My immediate reaction to when JPM found out they'd be duped after running an 'email campaign' was, hmmm, maybe well deserved, should have done your homework! I want to put the blame solely on the executives, lawyers and team that drove the acquisition forward. Obviously we can open the floodgates of conspiracy theories. Maybe, some from JPM t…
The real due diligence is their networks and reputations. If the people in charge say yes, then the paperwork will support whatever they said already.