How Volkswagen set the pace for the new era of ‘smart fraud’
High-tech fraud seems to be taking place everywhere – from the shimmering towers of Wall Street to the seedy world of online adultery. Ashley Madison, the hacked hook-up site for people looking to cheat on their spouses, allegedly set up fembots that sent fake messages to fool male users into thinking that real live women awaited them if they paid a fee to join, instead of fancy bits of computer code. The Federal Trade Commission had evidently not noticed that what appears to be a giant swindle had been going on since 2001.
Smart fraud, such as VW’s emissions scam or Ashley Madison’s robot dates, began to be understood in the late 2000s, when something weird started happening on stock markets.
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