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.
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.”
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.
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.
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.
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.,
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.
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