FRAUD METHODS
110 methods from the TraceChain Global Fraud Encyclopedia, ranked worst to least. Tap one for where it came from and who used it. Loss figures are the Encyclopedia's and measure different things.
USED BY PEOPLE IN OUR CASE FILES
#1Pig Butchering (Romance-Investment Scam)▸
$50-75B/year
Chen Zhi · Bai Suocheng · Huione Group +4 more
USED MOST FROM 🇨🇳 CHINA · 5 cases of 7
#2State-Sponsored Crypto Theft▸
$6.75B cumulative
Lazarus Group · Park Jin Hyok · Kim Il +1 more
USED MOST FROM 🇰🇵 NORTH KOREA · 4 cases of 4
#3Ransomware▸
$20B+ annual global cost
Lazarus Group · Dmitry Khoroshev · Mikhail Matveev +6 more
USED MOST FROM 🇷🇺 RUSSIA · 5 cases of 9
#4Ponzi Scheme▸
$65B in fake account balances (Madoff) · ~$17B cash lost
Bernard Lawrence Madoff · Ding Ning · Allen Stanford +10 more
USED MOST FROM 🇺🇸 UNITED STATES · 11 cases of 13
#5Business Email Compromise (BEC)▸
$2.9B (FBI IC3 2023)
Evaldas Rimašauskas · Isaac Oduro Boateng · Tejay Fletcher +2 more
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 5
#6Card-Not-Present (CNP) Fraud▸
$28.1B projected 2026
Stanislav Moiseyev · Fedir Hladyr · Alexandre Cazes +3 more
USED MOST FROM 🇷🇺 RUSSIA · 3 cases of 6
#7Money Laundering▸
2-5% of global GDP ($2T+)
Chen Zhi · Lazarus Group · Qian Zhimin +33 more
USED MOST FROM 🇺🇸 UNITED STATES · 24 cases of 36
#8Securities Fraud / Insider Trading▸
$74B (Enron alone)
Jeffrey Skilling · Kwon Do-hyung · Bernard Lawrence Madoff +25 more
USED MOST FROM 🇺🇸 UNITED STATES · 21 cases of 28
#9Healthcare Fraud▸
$100B+/year (US alone)
Philip Esformes · Jorge Perez · Minal Patel
USED MOST FROM 🇺🇸 UNITED STATES · 3 cases of 3
#10Tax Evasion / Tax Fraud▸
$600B+/year (US tax gap)
Michael Milken · Paul Manafort
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 2
#12Account Takeover (ATO)▸
$17B (2025)
Malone Lam · Nicholas Truglia · Noah Urban +1 more
USED MOST FROM 🇺🇸 UNITED STATES · 4 cases of 4
#14Crypto Rug Pull▸
$5B+ cumulative
Kim Il
USED MOST FROM 🇰🇵 NORTH KOREA · 1 case of 1
#16Romance Scam (Traditional)▸
$1.14B US losses (2023)
Isaac Oduro Boateng
USED MOST FROM 🇬🇭 GHANA · 1 case of 1
#17Investment Scam (General)▸
$8.6B US losses (2025)
Ding Ning · Alex Mashinsky
USED MOST FROM 🇨🇳 CHINA · 1 case of 2
#19Crypto Exchange Hack▸
$3.4B stolen (2025)
Lazarus Group · Alexander Vinnik · James Zhong +2 more
USED MOST FROM 🇺🇸 UNITED STATES · 4 cases of 5
#20Wire Fraud▸
$2.9B+ (FBI IC3)
Kwon Do-hyung · Samuel Bankman-Fried · Caroline Ellison +9 more
USED MOST FROM 🇺🇸 UNITED STATES · 7 cases of 12
#21Advance Fee Fraud (419 Scam)▸
$700M+/year
Emmanuel Nwude · Amaka Anajemba · Fred Ajudua
USED MOST FROM 🇳🇬 NIGERIA · 3 cases of 3
#22Phishing▸
90% of cyberattacks start here
Lazarus Group · Fedir Hladyr · Park Jin Hyok
USED MOST FROM 🇨🇳 CHINA · 2 cases of 3
#24Digital Skimming (Magecart)▸
443 merchants compromised (Europol)
Fedir Hladyr · Vladimir Drinkman · Roman Seleznev
USED MOST FROM 🇷🇺 RUSSIA · 2 cases of 3
#25DeFi Protocol Exploit▸
$3B+ cumulative
Lazarus Group · Avraham Eisenberg · Andean Medjedovic +1 more
USED MOST FROM 🇺🇸 UNITED STATES · 3 cases of 4
#29Pyramid Scheme / MLM Fraud▸
Billions cumulative
Ruja Ignatova · Sebastian Greenwood · Sam Lee +3 more
USED MOST FROM 🇺🇸 UNITED STATES · 5 cases of 6
#30Embezzlement▸
$50B+/year globally
Samuel Bankman-Fried · Caroline Ellison · Taek Jho Low / 1MDB +7 more
USED MOST FROM 🇺🇸 UNITED STATES · 10 cases of 10
#32SIM Swap Fraud▸
$68M+ (FBI IC3 2023)
Nicholas Truglia · Noah Urban · Joel Ortiz
USED MOST FROM 🇺🇸 UNITED STATES · 3 cases of 3
#33Money Mule Recruitment▸
Part of money laundering
Ghaleb Alaumary · Saw Chit Thu
USED MOST FROM 🇨🇦 CANADA · 1 case of 2
#35Cryptocurrency Ponzi / HYIP▸
$14B+ crypto scam revenue (2025)
Qian Zhimin · Ruja Ignatova · Sebastian Greenwood +3 more
USED MOST FROM 🇺🇸 UNITED STATES · 4 cases of 6
#36Counterfeit Currency▸
$70M+ seized annually (US)
Stanislav Moiseyev
USED MOST FROM 🇷🇺 RUSSIA · 1 case of 1
#39Banking Trojan▸
$1B+ losses estimated
Maksim Yakubets · Evgeniy Bogachev
USED MOST FROM 🇷🇺 RUSSIA · 2 cases of 2
#40Check Fraud▸
$27B+ (2023, FinCEN)
Charlie Green · E.F. Hutton & Co. · Treyvon Alexander +1 more
USED MOST FROM 🇺🇸 UNITED STATES · 4 cases of 4
#41Forex Fraud▸
$2B+/year
Johann Steynberg
USED MOST FROM 🇧🇷 BRAZIL · 1 case of 1
#43Lottery / Sweepstakes Scam▸
$300M+/year (FTC)
She Zhijiang · Eddie Tipton
USED MOST FROM 🇰🇭 CAMBODIA · 1 case of 2
#44Bribery / Corruption▸
$1T+/year globally (World Bank)
Allen Stanford · Taek Jho Low / 1MDB · Marcelo Odebrecht +1 more
USED MOST FROM 🇺🇸 UNITED STATES · 3 cases of 4
#46Invoice / Procurement Fraud▸
$121M (Rimasauskas case)
Tom Petters · Evaldas Rimašauskas · Lim Oon Kuin +1 more
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 4
#49Trade-Based Money Laundering▸
$2T+ (linked to money laundering)
Lim Oon Kuin
USED MOST FROM 🇨🇳 CHINA · 1 case of 1
#52Smishing (SMS Phishing)▸
Part of phishing losses
Noah Urban
USED MOST FROM 🇺🇸 UNITED STATES · 1 case of 1
#53Vishing (Voice Phishing)▸
$1B+
Malone Lam · Tejay Fletcher
USED MOST FROM 🇸🇬 SINGAPORE · 1 case of 2
#58Employment / Job Scam▸
$500M+ (FTC)
Lazarus Group
USED MOST FROM 🇨🇳 CHINA · 1 case of 1
#69Supply Chain Fraud▸
$100B+ impact
Yaroslav Vasinskyi
USED MOST FROM 🇵🇱 POLAND · 1 case of 1
#81Affinity Fraud▸
$1B+
Bernard Lawrence Madoff · Nevin Shapiro
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 2
#83Shell Company Fraud▸
Part of money laundering
Jeffrey Skilling · Taek Jho Low / 1MDB · Scott Tucker +5 more
USED MOST FROM 🇺🇸 UNITED STATES · 6 cases of 8
#85Pump and Dump▸
$500M+
Alex Mashinsky · Bre-X Minerals · Jordan Belfort
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 3
#90Kickback Scheme▸
Part of bribery
Philip Esformes · Minal Patel
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 2
#96Kiting (Check Kiting)▸
Part of check fraud
E.F. Hutton & Co.
USED MOST FROM 🇺🇸 UNITED STATES · 1 case of 1
CATASTROPHIC
#1Pig Butchering (Romance-Investment Scam)▸
$50-75B/year
Chen Zhi · Bai Suocheng · Huione Group +4 more
USED MOST FROM 🇨🇳 CHINA · 5 cases of 7
#2State-Sponsored Crypto Theft▸
$6.75B cumulative
Lazarus Group · Park Jin Hyok · Kim Il +1 more
USED MOST FROM 🇰🇵 NORTH KOREA · 4 cases of 4
#3Ransomware▸
$20B+ annual global cost
Lazarus Group · Dmitry Khoroshev · Mikhail Matveev +6 more
USED MOST FROM 🇷🇺 RUSSIA · 5 cases of 9
#4Ponzi Scheme▸
$65B in fake account balances (Madoff) · ~$17B cash lost
Bernard Lawrence Madoff · Ding Ning · Allen Stanford +10 more
USED MOST FROM 🇺🇸 UNITED STATES · 11 cases of 13
#5Business Email Compromise (BEC)▸
$2.9B (FBI IC3 2023)
Evaldas Rimašauskas · Isaac Oduro Boateng · Tejay Fletcher +2 more
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 5
#6Card-Not-Present (CNP) Fraud▸
$28.1B projected 2026
Stanislav Moiseyev · Fedir Hladyr · Alexandre Cazes +3 more
USED MOST FROM 🇷🇺 RUSSIA · 3 cases of 6
#7Money Laundering▸
2-5% of global GDP ($2T+)
Chen Zhi · Lazarus Group · Qian Zhimin +33 more
USED MOST FROM 🇺🇸 UNITED STATES · 24 cases of 36
#8Securities Fraud / Insider Trading▸
$74B (Enron alone)
Jeffrey Skilling · Kwon Do-hyung · Bernard Lawrence Madoff +25 more
USED MOST FROM 🇺🇸 UNITED STATES · 21 cases of 28
#9Healthcare Fraud▸
$100B+/year (US alone)
Philip Esformes · Jorge Perez · Minal Patel
USED MOST FROM 🇺🇸 UNITED STATES · 3 cases of 3
#10Tax Evasion / Tax Fraud▸
$600B+/year (US tax gap)
Michael Milken · Paul Manafort
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 2
SEVERE
#11Synthetic Identity Fraud▸
$23B globally
No case in our files yet
#12Account Takeover (ATO)▸
$17B (2025)
Malone Lam · Nicholas Truglia · Noah Urban +1 more
USED MOST FROM 🇺🇸 UNITED STATES · 4 cases of 4
#13Gift Card Fraud / Draining▸
$1B+ drained annually
No case in our files yet
#14Crypto Rug Pull▸
$5B+ cumulative
Kim Il
USED MOST FROM 🇰🇵 NORTH KOREA · 1 case of 1
#15Friendly Fraud / Chargeback Abuse▸
36% of all reported fraud
No case in our files yet
#16Romance Scam (Traditional)▸
$1.14B US losses (2023)
Isaac Oduro Boateng
USED MOST FROM 🇬🇭 GHANA · 1 case of 1
#17Investment Scam (General)▸
$8.6B US losses (2025)
Ding Ning · Alex Mashinsky
USED MOST FROM 🇨🇳 CHINA · 1 case of 2
#18Organized Retail Crime (ORC)▸
$112B+ US shrink (2024)
No case in our files yet
#19Crypto Exchange Hack▸
$3.4B stolen (2025)
Lazarus Group · Alexander Vinnik · James Zhong +2 more
USED MOST FROM 🇺🇸 UNITED STATES · 4 cases of 5
#20Wire Fraud▸
$2.9B+ (FBI IC3)
Kwon Do-hyung · Samuel Bankman-Fried · Caroline Ellison +9 more
USED MOST FROM 🇺🇸 UNITED STATES · 7 cases of 12
HIGH
#21Advance Fee Fraud (419 Scam)▸
$700M+/year
Emmanuel Nwude · Amaka Anajemba · Fred Ajudua
USED MOST FROM 🇳🇬 NIGERIA · 3 cases of 3
#22Phishing▸
90% of cyberattacks start here
Lazarus Group · Fedir Hladyr · Park Jin Hyok
USED MOST FROM 🇨🇳 CHINA · 2 cases of 3
#23NFC Relay / Ghost Tap▸
300%+ surge H1 2025
No case in our files yet
#24Digital Skimming (Magecart)▸
443 merchants compromised (Europol)
Fedir Hladyr · Vladimir Drinkman · Roman Seleznev
USED MOST FROM 🇷🇺 RUSSIA · 2 cases of 3
#25DeFi Protocol Exploit▸
$3B+ cumulative
Lazarus Group · Avraham Eisenberg · Andean Medjedovic +1 more
USED MOST FROM 🇺🇸 UNITED STATES · 3 cases of 4
#26Return Fraud / Refund Abuse▸
$103.8B (15% of all US returns)
No case in our files yet
#27Impersonation Scam (Government)▸
$1.1B+ (FTC)
No case in our files yet
#28Tech Support Scam▸
$1.3B+ (FBI IC3 2023)
No case in our files yet
#29Pyramid Scheme / MLM Fraud▸
Billions cumulative
Ruja Ignatova · Sebastian Greenwood · Sam Lee +3 more
USED MOST FROM 🇺🇸 UNITED STATES · 5 cases of 6
#30Embezzlement▸
$50B+/year globally
Samuel Bankman-Fried · Caroline Ellison · Taek Jho Low / 1MDB +7 more
USED MOST FROM 🇺🇸 UNITED STATES · 10 cases of 10
#31Credential Stuffing▸
Part of $17B ATO losses
No case in our files yet
#32SIM Swap Fraud▸
$68M+ (FBI IC3 2023)
Nicholas Truglia · Noah Urban · Joel Ortiz
USED MOST FROM 🇺🇸 UNITED STATES · 3 cases of 3
#33Money Mule Recruitment▸
Part of money laundering
Ghaleb Alaumary · Saw Chit Thu
USED MOST FROM 🇨🇦 CANADA · 1 case of 2
#34Cargo Theft▸
$200K+ per incident
No case in our files yet
#35Cryptocurrency Ponzi / HYIP▸
$14B+ crypto scam revenue (2025)
Qian Zhimin · Ruja Ignatova · Sebastian Greenwood +3 more
USED MOST FROM 🇺🇸 UNITED STATES · 4 cases of 6
#36Counterfeit Currency▸
$70M+ seized annually (US)
Stanislav Moiseyev
USED MOST FROM 🇷🇺 RUSSIA · 1 case of 1
#37Insurance Fraud▸
$308B+/year (US, Coalition Against)
No case in our files yet
#38Real Estate Fraud▸
$350M+ (FBI IC3 2023)
No case in our files yet
#39Banking Trojan▸
$1B+ losses estimated
Maksim Yakubets · Evgeniy Bogachev
USED MOST FROM 🇷🇺 RUSSIA · 2 cases of 2
#40Check Fraud▸
$27B+ (2023, FinCEN)
Charlie Green · E.F. Hutton & Co. · Treyvon Alexander +1 more
USED MOST FROM 🇺🇸 UNITED STATES · 4 cases of 4
MODERATE-HIGH
#41Forex Fraud▸
$2B+/year
Johann Steynberg
USED MOST FROM 🇧🇷 BRAZIL · 1 case of 1
#42PPP/COVID Relief Fraud▸
$236B+ estimated
No case in our files yet
#43Lottery / Sweepstakes Scam▸
$300M+/year (FTC)
She Zhijiang · Eddie Tipton
USED MOST FROM 🇰🇭 CAMBODIA · 1 case of 2
#44Bribery / Corruption▸
$1T+/year globally (World Bank)
Allen Stanford · Taek Jho Low / 1MDB · Marcelo Odebrecht +1 more
USED MOST FROM 🇺🇸 UNITED STATES · 3 cases of 4
#45Counterfeiting (Products)▸
$509B/year (OECD)
No case in our files yet
#46Invoice / Procurement Fraud▸
$121M (Rimasauskas case)
Tom Petters · Evaldas Rimašauskas · Lim Oon Kuin +1 more
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 4
#47Crypto Mining Fraud▸
$500M+
No case in our files yet
#48ATM Skimming / Jackpotting▸
$1B/year (FBI estimate)
No case in our files yet
#49Trade-Based Money Laundering▸
$2T+ (linked to money laundering)
Lim Oon Kuin
USED MOST FROM 🇨🇳 CHINA · 1 case of 1
#50Deepfake Fraud▸
456% increase in AI scam reports
No case in our files yet
MODERATE
#51Sextortion▸
$1.8B+ (FBI IC3)
No case in our files yet
#52Smishing (SMS Phishing)▸
Part of phishing losses
Noah Urban
USED MOST FROM 🇺🇸 UNITED STATES · 1 case of 1
#53Vishing (Voice Phishing)▸
$1B+
Malone Lam · Tejay Fletcher
USED MOST FROM 🇸🇬 SINGAPORE · 1 case of 2
#54Subscription Fraud▸
$1B+
No case in our files yet
#55Utility Scam▸
$200M+
No case in our files yet
#56Timeshare Fraud / Resale Scam▸
$300M+
No case in our files yet
#57Charity Fraud▸
$200M+/year during disasters
No case in our files yet
#58Employment / Job Scam▸
$500M+ (FTC)
Lazarus Group
USED MOST FROM 🇨🇳 CHINA · 1 case of 1
#59Warranty / Extended Warranty Scam▸
$100M+
No case in our files yet
#60Pension / Retirement Fraud▸
$1B+
No case in our files yet
#61Student Loan Fraud▸
$200M+
No case in our files yet
#62Foreclosure Rescue Scam▸
$150M+
No case in our files yet
#63Moving Scam▸
$100M+
No case in our files yet
#64Online Auction Fraud▸
$100M+
No case in our files yet
#65Ticket Fraud / Scalping Scam▸
$200M+
No case in our files yet
#66Contractor / Home Repair Fraud▸
$200M+
No case in our files yet
#67Grandparent Scam▸
$100M+
No case in our files yet
#68Payroll Diversion Fraud▸
$300M+ (FBI IC3)
No case in our files yet
#69Supply Chain Fraud▸
$100B+ impact
Yaroslav Vasinskyi
USED MOST FROM 🇵🇱 POLAND · 1 case of 1
#70Binary Options Fraud▸
$10B+ cumulative
No case in our files yet
MODERATE-LOW
#71Crop / Agricultural Insurance Fraud▸
$100M+
No case in our files yet
#72Debt Collection Scam▸
$100M+
No case in our files yet
#73Recovery Scam (Double Victimization)▸
$500M+
No case in our files yet
#74Crowdfunding Fraud▸
$100M+
No case in our files yet
#75Domain Spoofing / Typosquatting▸
Part of phishing
No case in our files yet
#76Prize / Award Notification Scam▸
$100M+
No case in our files yet
#77Odometer Fraud▸
$1B+ (NHTSA estimate)
No case in our files yet
#78Scholarship / Grant Scam▸
$50M+
No case in our files yet
#79Immigration Scam▸
$200M+
No case in our files yet
#80Elder Financial Abuse▸
$28.3B/year (US)
No case in our files yet
LOW-MODERATE
#81Affinity Fraud▸
$1B+
Bernard Lawrence Madoff · Nevin Shapiro
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 2
#82Bust-Out Scheme▸
$1B+
No case in our files yet
#83Shell Company Fraud▸
Part of money laundering
Jeffrey Skilling · Taek Jho Low / 1MDB · Scott Tucker +5 more
USED MOST FROM 🇺🇸 UNITED STATES · 6 cases of 8
#84Wash Trading▸
$2B+ in crypto
No case in our files yet
#85Pump and Dump▸
$500M+
Alex Mashinsky · Bre-X Minerals · Jordan Belfort
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 3
#86Click Fraud / Ad Fraud▸
$84B+/year
No case in our files yet
#87Telemarketing Fraud▸
$500M+
No case in our files yet
#88Spoofed Website / Clone Site▸
Part of phishing
No case in our files yet
#89Price Tag Switching▸
$200M+
No case in our files yet
#90Kickback Scheme▸
Part of bribery
Philip Esformes · Minal Patel
USED MOST FROM 🇺🇸 UNITED STATES · 2 cases of 2
LOW
#91Coupon Fraud▸
$300M-$600M/year
No case in our files yet
#92Skimming (Employee Cash)▸
Part of embezzlement
No case in our files yet
#93Lapping Scheme▸
Part of embezzlement
No case in our files yet
#94Ghost Employee▸
Part of payroll fraud
No case in our files yet
#95Vendor Fraud▸
Part of procurement fraud
No case in our files yet
#96Kiting (Check Kiting)▸
Part of check fraud
E.F. Hutton & Co.
USED MOST FROM 🇺🇸 UNITED STATES · 1 case of 1
#97Structuring (Smurfing)▸
Part of money laundering
No case in our files yet
#98Sweetheart Deal▸
Part of employee fraud
No case in our files yet
#99Warranty Fraud (Product)▸
$200M+
No case in our files yet
#100Diploma / Credential Fraud▸
$100M+
No case in our files yet
#101Social Media Account Hijacking▸
Part of ATO
No case in our files yet
#102QR Code Fraud (Quishing)▸
Emerging
No case in our files yet
#103Valet Key Scam▸
$10M+
No case in our files yet
#104Rental Scam▸
$100M+
No case in our files yet
#105Refund Anticipation Fraud▸
$50M+
No case in our files yet
#106Crypto Dust Attack▸
Emerging
No case in our files yet
#107Juice Jacking▸
Emerging
No case in our files yet
#108Pig Butchering (Crypto ATM Variant)▸
$100M+
No case in our files yet
#109Drop Shipping Fraud▸
$100M+
No case in our files yet
#110Gift Card Reshipping▸
Part of ORC
No case in our files yet