Securities Fraud

Explicit content warning

05/30/24 • 37 min

According to the United States Federal Trade Commission, Americans lost $10 billion to fraud in 2023 alone. In that same year, Americans were defrauded $4.6 billion via investment scams.

In this episode of Privacy Files, we talk to Val Harkless, a government contractor who assists with fraud and analysis for the Securities and Exchange Commission's (SEC) Division of Enforcement. She works tirelessly to uncover a variety of crimes, including insider trading, pump and dumps, Ponzi schemes, unregistered soliciting entities, and cryptocurrency investment fraud.

Val provides insight into how she investigates potential fraud cases, including going back to her time working with the Federal Bureau of Investigation (FBI) and Office of Inspector General, U.S. Department of Health and Human Services.

In all, Val is an extremely seasoned fraud investigator who has seen more than her fair share of scams. It's an enlightening discussion about the many dangers people face daily.

It's also a reminder of why it's important to stay vigilant when protecting your personal information and financial assets.

And if you're wondering what Val does to unwind from the realities of a stressful job...she sings and plays guitar! You can check out her music here:

https://acaciagrace.com/home

https://open.spotify.com/artist/47iXlfc6a21sIgHWawJA0D

Links Referenced:

https://www.ftc.gov/news-events/news/press-releases/2024/02/nationwide-fraud-losses-top-10-billion-2023-ftc-steps-efforts-protect-public

https://www.linkedin.com/in/valehark/

OUR SPONSORS:

Anonyome Labs - Makers of MySudo and Sudo Platform. Take back control of your personal data. www.anonyome.com

MySudo - The world's only all-in-one privacy app. Communicate and transact securely and privately. Talk, text, email, browse, shop and pay, all from one app. Stay private. www.mysudo.com

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According to the United States Federal Trade Commission, Americans lost $10 billion to fraud in 2023 alone. In that same year, Americans were defrauded $4.6 billion via investment scams.

In all, Val is an extremely seasoned fraud investigator who has seen more than her fair share of scams. It's an enlightening discussion about the many dangers people face daily.

It's also a reminder of why it's important to stay vigilant when protecting your personal information and financial assets.

And if you're wondering what Val does to unwind from the realities of a stressful job...she sings and plays guitar! You can check out her music here:

https://acaciagrace.com/home

https://open.spotify.com/artist/47iXlfc6a21sIgHWawJA0D

Links Referenced:

https://www.ftc.gov/news-events/news/press-releases/2024/02/nationwide-fraud-losses-top-10-billion-2023-ftc-steps-efforts-protect-public

https://www.linkedin.com/in/valehark/

OUR SPONSORS:

Anonyome Labs - Makers of MySudo and Sudo Platform. Take back control of your personal data. www.anonyome.com

MySudo - The world's only all-in-one privacy app. Communicate and transact securely and privately. Talk, text, email, browse, shop and pay, all from one app. Stay private. www.mysudo.com

MySudo VPN - No personal information required to sign up. You don't even need a username and password. Finally, a VPN that is actually private. https://mysudo.com/mysudo-vpn/

Previous Episode

Reusable Digital Identity

In the United States, fraud and identity theft together result in tens of billions of dollars in losses annually.

Contributing to this growing problem is the continued use of usernames and passwords stored in giant, centralized databases owned by large companies. These databases are often the target of hacking attacks. And this stolen data finds its way into marketplaces on the dark web.

The good news is, there's a better way and it's being put to the test now.

In this episode of Privacy Files, we welcome back Anonyome Labs CTO, Dr. Paul Ashley.

Dr. Ashley provides an update on the topic of decentralized identity and how companies are using blockchain technology to develop reusable credentials, sometimes referred to as reusable digital identity.

So much has happened in the world of decentralized identity since Dr. Ashley last appeared on Privacy Files.

Many industries are now exploring ways to implement reusable credentials as a way to reduce fraud and improve the customer experience. From banking and healthcare to insurance and cybersecurity, industry leaders are pioneering the transformation of the way businesses secure information and protect their clients.

Dr. Ashley covers many examples of how the concept of reusable credentials can work and proves that the best use case for blockchain technology is not cryptocurrency, but data verification.

A future where clunky usernames and passwords are a thing of the past is just around the corner.

OUR SPONSORS:

Anonyome Labs - Makers of MySudo and Sudo Platform. Take back control of your personal data. www.anonyome.com

MySudo - The world's only all-in-one privacy app. Communicate and transact securely and privately. Talk, text, email, browse, shop and pay, all from one app. Stay private. www.mysudo.com

MySudo VPN - No personal information required to sign up. You don't even need a username and password. Finally, a VPN that is actually private. https://mysudo.com/mysudo-vpn/

Next Episode

Crypto Scams

Cryptocurrency has made many people very wealthy. There are more than 88,000 millionaires who got rich through crypto investing. In fact, there are even 17 "crypto billionaires."

But for every person who makes it big in the world of cryptocurrency, there are many times more who either never grow their investment or who lose money.

In this episode of Privacy Files, Brian Tillman returns to the studio to help Rich make sense of the extremely complex environment of cryptocurrency.

Brian runs through some examples of cryptocurrency scams with the goal of pinpointing the red flags to watch out for.

Rich takes a more holistic view by examining the common question of whether or not cryptocurrency is actually a decentralized Ponzi scheme.

This is an episode that covers many angles. On the fraud side, we look at a variety of frauds, from pig butchering scams to phishing attacks. Globally, we break down how cryptocurrency actually works to better understand what it actually is.

Is cryptocurrency really a currency? Is it an unregistered security? Or, is cryptocurrency just a decentralized Ponzi scheme?

Links Referenced:

https://www.forbes.com/sites/johnhyatt/2024/04/02/the-richest-crypto-and-bitcoin-billionaires-in-the-world-2024/?sh=1e04cfab726b

https://dfpi.ca.gov/crypto-scams/

https://www.web3isgoinggreat.com/

https://www.youtube.com/watch?v=ORdWE_ffirg

OUR SPONSORS:

Anonyome Labs - Makers of MySudo and Sudo Platform. Take back control of your personal data. www.anonyome.com

MySudo - The world's only all-in-one privacy app. Communicate and transact securely and privately. Talk, text, email, browse, shop and pay, all from one app. Stay private. www.mysudo.com

MySudo VPN - No personal information required to sign up. You don't even need a username and password. Finally, a VPN that is actually private. https://mysudo.com/mysudo-vpn/