PYMNTS

NOVEMBER 21, 2019

prosecutors charged 80 individuals, many of them Nigerians, who allegedly defrauded businesses and elderly women through a slew of scams, including what are commonly known as “romance scams.” As quoted in September in the wake of those busts, FBI Special Agent Michael Nail referred to it all as “modern-day bank robbery.

Scams 87

Scams Checks Romance Scams Email Compromise 87

PYMNTS

AUGUST 26, 2019

history and said in a statement that “fraud networks now target individuals and businesses alike … In the BEC scams, the fraudsters will often hack a company’s email system, impersonate company personnel, and direct payments to bank accounts that funnel money back to the fraudsters in Nigeria.”

Business Email Compromise 58

Business Email Compromise Romance Scams Scams Identity Theft 58

PYMNTS

FEBRUARY 14, 2020

The Cost of Love: Broken hearts club: Consumers report losing more than $200 million to romance scams last year, as estimated by the FTC. B2B Targeted: The FBI reports that Business email compromise (BEC) scams are on the rise. That’s up 40 percent over 2018.

Cross-Border 52

Cross-Border Business Email Compromise Romance Scams FTC 52

PYMNTS

JUNE 10, 2019

The group has evolved from a “one-man shop” that originally scammed victims on Craigslist , and now has dozens of fraudsters targeting smaller firms through BEC — with an emphasis on U.S. The fraud evolved into romance scams a few years later, then BEC scams in 2015. “I companies and government agencies.

Business Email Compromise 51

Business Email Compromise Scams Romance Scams Counterfeit Check 51

PYMNTS

FEBRUARY 14, 2020

Romance scams — according to various data streams, including the FBI and Federal Trade Commission — have become an increasingly favored tactic among scammers and fraudsters looking to take advantage of the unwitting. In addition, niche dating sites can be a magnet for fraudsters and catfishers.

Romance Scams 70

Romance Scams Federal Trade Commission Scams FBI 70

FICO

SEPTEMBER 10, 2020

Federal Bureau of Investigation (FBI) issued a bulletin warning that this crime is on the rise, and published a Money Mule Awareness Guide to help the public fight money mules. During the FICO Virtual Event this past May, we predicated that money muling would be one of the top scams being perpetrated during the pandemic.

Crime 52

Crime Money Laundering Online and Mobile Banking Romance Scams 52

FICO

AUGUST 16, 2022

At FICO World 2022, I hosted a session where we talked about global fraud trends like authorized push payment scams and romance scams. And card skimming is big business; the FBI estimates that “skimming costs financial institutions and consumers more than $1 billion each year.”. But here in the U.S.,

Compromise 52

Compromise Romance Scams Push-to-Card ATM 52