TAMPA, Fla. – Former FBI agent and fraud protection expert RJ Toledo appeared on ABC Action News to explain how a local man scammed Apple stores for more than $300,000 and what investors can do to protect themselves.
The secret service arrested 24-year-old Sharron Parrish, Jr. of Tampa on charges of wire fraud as investigators said Parrish managed to defraud Apple stores in 16 states by using a debit card he knew would get declined. By pretending to call the bank and giving the Apple clerk a standard override code, Parrish completed 42 transactions totaling more than $300,000 worth of products.
Toledo, the founder of the Tampa-based fraud protection company, InvestDefense, told WFTS reporter Ryan Raiche that this should be a wake-up call to everyone when it comes to financial practices.
“Once they find a loophole, once the find a vulnerability they will never stop,” said the fraud protection expert.
Toledo also offered advice to businesses, saying they might want to keep the bigger picture in mind when presented with a declined credit or debit card.
“Merchants have to face up to the fact that they sometimes need to deny the transaction and lose the sale to avoid being defrauded down the line,” said Toledo.
InvestDefense is a financial investigation agency and research lab that utilizes specialized training, methods and techniques used to capture frauds after they occur. For the first time, the Tampa-based fraud protection company will put those techniques into action now before someone becomes a victim or wastes resources on unreliable, untested services.
The Tampa fraud protection expert says fraud is far more rampant than is known. He states that over 97.5 percent of fraud incidents and 98 percent of fraud losses don’t get reported and technology is only making it easier for to falsify legitimacy.
About InvestDefense: Founded by former FBI special agents, InvestDefense is a fusion of the aggressive investigative tactics of FBI agents with rigorous scientific analysis and academic research. InvestDefense is a registered investigative agency, licensed in the state of Florida, and is empowered under Chapter 493 of Florida Statutes to conduct full investigative operations in support of its investigative mission. InvestDefense is located at the University of South Florida, Research Park, in Tampa Florida.
For more information on RJ Toledo and InvestDefense, visit http://thepublicityagency.com/rj-toledo-the-fraudhunter/
SOURCE: The Publicity Agency
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