PYMNTS

JULY 7, 2020

Americans have lost more than $77 million in COVID-19 fraud since the start of the year, according to the Federal Trade Commission (FTC). Consumers reported 121,466 instances of fraud, the FTC found. based consumer advocacy group. “We We know fraud is historically an under-reported crime.”. The median loss was $270.

Federal Trade Commission 70

Federal Trade Commission FTC Consumer Scams 70

PYMNTS

JANUARY 28, 2021

PYMNTS recently reported Federal Trade Commission (FTC) figures finding, “More than 200,000 Americans were scammed out of $145 million relating to the pandemic since the beginning of 2020.” Much of this is caused by criminals sensing opportunity. It’s on banks to deter them.

Federal Trade Commission 97

Federal Trade Commission Scams Account Takeovers Fincen 97

FICO

NOVEMBER 24, 2020

The fraud problem has gone viral - consumers have filed more than 130,000 reports of fraud to the FTC and have lost $182 million to these activities during the pandemic. Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. Like COVID, Fraud Is Rampant.

Identity Theft 98

Identity Theft Scams Online and Mobile Banking Account Takeovers 98

PYMNTS

OCTOBER 30, 2017

According to John Krebs, manager of the identity theft program at the Federal Trade Commission (FTC), the situation between the good guys who are trying to protect the systems and the bad guys who are trying to break into and exploit them will always be very asymmetrical. They just moved online, and started looking for easy-to-open windows.

Identity Theft 69

Identity Theft FTC Account Takeovers Phishing 69

PYMNTS

NOVEMBER 8, 2019

Data: 1.4M: Number of fraud reports the FTC received in 2018. 1.5M: Number of individuals who have had new accounts opened in their names in connection with account takeover attacks. It’s no easy task, as the recent Fraud Decisioning Playbook shows. 400: Average amount lost by millennial consumers per fraud incident.

Account Takeovers 40

Account Takeovers FTC Compromise Authentication 40

PYMNTS

MARCH 3, 2020

It’s just as bad stateside, with the Federal Trade Commission (FTC) concluding that Americans got taken for over $200 million via internet romance ruses last year alone. In fact, the FTC says online dating owns the dubious distinction of being the most commonly reported type of con for two years running.

Federal Trade Commission 53

Federal Trade Commission FTC Account Takeovers Ransomware 53

Accertify

MAY 30, 2023

Account takeovers and mistaking legitimate shoppers for fraudsters can cause damage to your reputation, not to mention lost customers. Accertify Account Protection: An account protection tool that focuses on identifying risks associated with account takeovers and new account openings.

Fraud Prevention 52

Fraud Prevention Federal Trade Commission Technology Account Takeovers 52