Criminals are opportunists – they ascertain who is most desperate and vulnerable and where the greatest weaknesses exist and then exploit them. Every February, one can expect to see articles warning about unscrupulous actors catfishing lonely-hearts or using one of the many dating apps to spread malware or ransomware.
Consider the extraordinary display of fraud in the wake of Hurricane Katrina, a time of great human vulnerability and institutional weakness; in fact, the criminal activity prompted the U.S. Department of Justice to establish the National Center for Disaster Fraud (NCDF), when billions of dollars in federal disaster relief poured into the Gulf Coast region. Since 2005, the NCDF has received more than 95,000 disaster fraud complaints
On March 27, 2020, President Trump signed into law the $2 trillion U.S. Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide economic relief to families and businesses in response to the COVID-19 crisis.
Unfortunately, it is not a matter of if bad actors will exploit weakness and vulnerability during this crisis – but the scale of it.
Learn more about FastStart, the COVID-19-related solution that ThetaRay has developed for financial institutions.
Chief Product Officer, ThetaRay
VP Product Management, ThetaRay
Senior Director Commercial Unit, ThetaRay
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As a result of challenges around , ThetaRay created FastStart: offering the power of ThetaRay’s machine-learning platform into a solution that takes weeks to go-live and achieves results like these: