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Editor’s note: What I learned about cyber fraud in the pages of Faust

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Fraud Watch, Operations
Monday, February 25, 2013
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Opinion
Did you ever read or hear the story of Faust? The tale has been retold in a million different ways as it’s just one of those legendary, classic tales. The quick summary (at least from the version I am most familiar) is Faust is an intellectual who essentially exchanges his soul for experiences, worldly pleasures and pure happiness. The story added “Faustian” to our lexicon, an adjective which implies a situation in which an ambitious person surrenders moral integrity in order to achieve power and success for a limited time.

Since we are discussing cyber fraud scams today (check out part 1 and part 2 of our cyber fraud protection feature) it seems like an appropriate cautionary tale to bring up, as fraud scams are all very Faustian in nature. However, that isn’t the analogy I’m drawing up today.

An underrated part of the Faust story is how Mephistopheles (the devil, essentially) propositions Faust with the deal. He doesn’t just zap into his house or come right out with his intentions or put him under a spell. Mephistopheles appears in another form first, which changes depending on the telling of the story, in order to play off Faust’s sensibilities. Mephistopheles must initially trick, deceive or intrigue Faust into speaking with him or inviting him into his home. Mephistopheles was unable to tempt Faust with a soul-selling deal unless first engaged or invited by Faust.

If you take a look at those cyber fraud prevention stories, we are essentially talking about a Mephistopheles-type of enemy. These scams are often invited into our worlds after playing off our sensibilities, tricking us into ultimately falling into their trap.

Now, Faust kind of brought this appearance by Mephistopheles on himself because he was a bit of a jerk and a whiner. He was a target for those reasons, whereas title agents and agency employees are just doing their jobs. But by not setting up the proper fraud prevention protocols or fostering a culture of security, title agents’ lackadaisical IT attitudes make them perfect cyber fraud targets. It leaves them more vulnerable to falling prey to the gimmicks and tricks of those seeking their own Faustian glory.

Technology definitely puts a new twist on the threat of fraud scams and bad news, but at their core, these threats are no different than the same tragic tales that have been told for centuries. Hopefully these features will help you avoid the consequences of letting today’s new M-word bad guy — malware — into your life.

Until next time,

Chris Crowell
[email protected]

 

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