Rule of Thumb by MoneyThumb

Fraud is changing, and “does this look legitimate?” is no longer the right question to be asking. In Episode 2 of Rule of Thumb by Money Thumb, Shy and Chandler break down some of the wildest recent fraud stories affecting lending, finance, and the broader business world. From an AI-powered hack of ChatGPT to 850 cows that never existed, massive pandemic-era fraud, and the rise of AI-generated voices and seller impersonation, the stories all point to the same problem - something can look completely real and still be completely fraudulent. This conversation dives into why lenders need to look beyond individual documents and start reconciling the entire story behind a transaction. They also discuss California's upcoming commercial financing licensing changes, the latest New Markets Tax Credit allocation for CDFIs, and what our team heard from the floor at a recent trade-show. Thanks for listening!

Welcome to the first episode of Rule of Thumb, where we talk about what’s actually happening across lending, fraud, AI, risk and financial technology, including the stories that sound way too insane to be true.In Episode 1, our hosts introduce themselves, share why they started the show and break down how AI is changing the fraud landscape faster than many lenders can keep up. Then we kick off our first Thumbs Up, Thumbs Down segment with three very different stories that are all equally hard to believe.If you work anywhere in lending, funding, fintech or financial services of any kind, expect real-time news, fraud stories, technology updates, industry experts, and a lot of opinions along the way.Thanks for tuning in!