Payments Source

MAY 20, 2020

First Data Merchant Services LLC and a former executive agreed to pay more than $40 million to settle a claim by the Federal Trade Commission that the company processed payments and laundered credit card transactions for scams targeting hundreds of thousands of consumers.

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Scams Federal Trade Commission FTC Consumer 73

PYMNTS

DECEMBER 28, 2020

More than 200,000 Americans were scammed out of $145 million relating to the pandemic since the beginning of 2020, the Federal Trade Commission (FTC) said. .

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Fincen Suspicious Activity Report (SAR) Scams Federal Trade Commission 127

PYMNTS

DECEMBER 3, 2018

The Federal Trade Commission (FTC) warned Monday (Dec. 3) that a new scam is targeting people 70 and older, in which they are being tricked into sending large amounts of cash to people pretending to be their grandchildren. “These scammers are experts at impersonating people they’ve never even met.

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FTC Scams Federal Trade Commission Legal 55

PYMNTS

FEBRUARY 20, 2020

The Federal Trade Commission (FTC) has sent $34 million to victims of a scheme by Office Depot and a separate software provider that encouraged them to buy unnecessary computer repair products, according to a report. The FTC is distributing 541,247 checks at $63.35

FTC 56

FTC Scams Federal Trade Commission Consumer 56

PYMNTS

JULY 21, 2020

The Federal Trade Commission (FTC) testified before the Senate Commerce Subcommittee on Manufacturing, Trade and Consumer Protection on Tuesday (July 21), detailing its efforts to combat coronavirus-related fraud, including sending warning letters and trying to educate customers on how to spot a scam, according to a press release.

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FTC Federal Trade Commission Scams Law Enforcement 56

PYMNTS

APRIL 30, 2020

Bitcoin blackmail scams are on the rise , according to the Federal Trade Commission (FTC). The scams are usually centered around emails claiming to have recorded the user visiting an adult website. The FTC’s advice when one receives those messages is blunt: “Stop. It’s a scam.”.

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FTC Scams Bitcoin Treasury 56

PYMNTS

MAY 19, 2020

More than 147,000 consumers who were scammed by I Works are getting full refunds totaling $12 million, the Federal Trade Commission (FTC) announced Monday (May 18). The FTC alleged the Utah-based company operated deceptive trial memberships and bogus government grant and money-making schemes in 2010.

FTC 71

FTC Federal Trade Commission Consumer Enrollments 71

PYMNTS

JULY 1, 2020

While online purchasing has skyrocketed since March as the country shut down as a defense against COVID-19, so have complaints to the federal watchdog agency responsible for regulating eCommerce. The most common missing items included face masks, sanitizer, toilet paper, thermometers and gloves, the FTC said.

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FTC Federal Trade Commission Scams Consumer Protection 62

PYMNTS

MARCH 2, 2020

In response to fraud from the American Immigration Center, the Federal Trade Commission (FTC) is sending out refunds for those defrauded, according to a press release. The FTC will issue 4,976 refund checks and 44,136 PayPal payments to victims, totaling over $2 million to help make them whole. There was also a $2.2

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FTC Federal Trade Commission PayPal Checks 66

PYMNTS

NOVEMBER 18, 2020

The Federal Trade Commission (FTC) has alleged that the mobile banking app Beam Financial has misled customers about quick transfers of funds, a press release says, with some customers receiving funds late or not at all. Some, the release says, never received their money at all.

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FTC Federal Trade Commission Mobile Banking Scams 64

PYMNTS

MAY 21, 2019

Payment company Allied Wallet and its owner, Ahmad Khawaja, as well as two officers, Mohammad Diab and Amy Rountree, have settled with the Federal Trade Commission (FTC) over allegations of knowingly processing fraudulent transactions related to scams, the FTC reported on Tuesday (May 21).

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FTC Federal Trade Commission Law Enforcement Scams 76

PYMNTS

DECEMBER 5, 2017

The Federal Trade Commission announced Monday (Dec. 4) it filed a complaint in a federal district court in Orlando to stop a credit card interest rate reduction scam. In a press release , the FTC alleges that the scam deceived a number of consumers who were already struggling with credit card debt.

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FTC Credit Cards Scams Federal Trade Commission 40

PYMNTS

FEBRUARY 11, 2019

The Federal Trade Commission said it will send refund checks to people who were victims of a tech support scam. FTC, as part of the settlement, will mail checks that average around $380, and totalling $26,000, to about 70 people. Sometimes, the alleged bad guys would install malware.

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FTC Scams Federal Trade Commission Settlement 50

PYMNTS

MARCH 7, 2018

The Federal Trade Commission (FTC) has announced that new Medicare cards will be mailed out starting next month. The FTC is requesting that once the new cards are received, the old ones should be shredded immediately. But as the new Medicare cards start being mailed, there might be an uptick in related scams.

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FTC Scams Identity Theft Federal Trade Commission 49

PYMNTS

DECEMBER 17, 2020

The “stimulus” scams are already out there, reports NBC News. This scam is a new twist on those we’ve been seeing much of this year.”. Stimulus scams have been running all year , as have COVID-connected attempts to heist consumers’ funds. The FTC marked $201.26 PIRG Education Fund, told CNBC. “We

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Scams IRS Federal Trade Commission FTC 84

PYMNTS

DECEMBER 17, 2019

The Federal Trade Commission (FTC) is refunding over $2.6 million to small businesses that were scammed by A-1 Janitorial, a New York-based office supply company, the FTC said in a press release on Tuesday (Dec. The FTC is mailing 30,374 checks averaging $86 each to victims of the alleged scheme.

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FTC Federal Trade Commission Scams Small Business 53

PYMNTS

JANUARY 18, 2021

This week's B2B Data Digest takes a look at the numbers behind the latest instances of fraud, including fraudulent invoices, corporate tax scams and more. $19 19 million in shipping scams hit Amazon , according to U.S. 250,000 in loan offerings are appearing in a new COVID-19 scam targeting small businesses , the U.S.

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Scams Business Email Compromise Email Compromise Federal Trade Commission 87

PYMNTS

AUGUST 5, 2020

A report by the California-based agency, whose mission is to prevent consumers from being defrauded online by learning the identity of individuals or organizations, revealed the number complaints about coronavirus scams has doubled in most states. million to date, according to the FTC. But the scams are not limited to the giant states.

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FTC Federal Trade Commission Scams Identity Theft 112

PYMNTS

FEBRUARY 12, 2019

The Federal Trade Commission released a warning on Tuesday (Feb. 12) about potential “romance scams,” which cost victims a collective $143 million last year. The FTC said these particular types of scams cost people more than any other type of swindling, and that they’re expected to become more common.

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Romance Scams FTC Scams Federal Trade Commission 53

PYMNTS

MAY 19, 2020

million to settle allegations that they laundered credit card transactions for scams targeting hundreds of thousands of consumers, the Federal Trade Commission (FTC) said on Tuesday (May 19). The FTC said it will use the money to provide refunds to consumers allegedly harmed in the case.

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FTC ISOs Federal Trade Commission Credit Cards 66

PYMNTS

JUNE 22, 2020

The Federal Trade Commission ( FTC ) is sending out over $8.7 Triangle, along with other defendants in the FTC’s case, was marketing items online, such as skin creams, electronic cigarettes, and dietary supplements, according to the release. That money will be used for the refunds, the press release states.

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FTC Federal Trade Commission Consumer Risk 59

PYMNTS

MAY 15, 2017

Merchants that accept checks or online payments are being warned about a scam that could cost them time and money. In one scheme, they’re telling people to use the routing number of the Federal Reserve Bank of Atlanta (0610-0014-6) to make both check and electronic payments through the Automated Clearinghouse (ACH) Network.

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FTC Scams Federal Trade Commission Federal Reserve 41

PYMNTS

JULY 27, 2016

Victims of an illegal credit card billing scam have started receiving checks from the Federal Trade Commission. The FTC said it has begun mailing checks, amounting to $9.7 million, to the 321,982 consumers that were victims of the scam by J.K. All of the illegal actions date back to 1998, the FTC noted.

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FTC Credit Cards Scams Federal Trade Commission 41

PYMNTS

SEPTEMBER 28, 2016

The Federal Trade Commission announced on Tuesday (Sept. monthly fee for credit monitoring the FTC said they never ordered. The Federal Trade Commission announced on Tuesday (Sept. monthly fee for credit monitoring the FTC said they never ordered. com, FreeScoreOnline.com and ScoreSense.com.

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FTC Returns Scams Federal Trade Commission 64

Center for Payments

NOVEMBER 21, 2023

The FBI works to raise awareness of the types of scams that are common around the holidays and how you can protect yourself and your customers or members. Charity Scams Scammers are aware of the “giving season” and will often create fake crowdfunding campaigns and charities to exploit people’s goodwill.

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Holiday Scams Scams FBI Federal Trade Commission 40

PYMNTS

OCTOBER 1, 2019

A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. And millennials are 93 percent more likely than people over 40 to report losing money to fake check scams, which often look like a way to earn money.

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FTC Romance Scams Federal Trade Commission Scams 59

PYMNTS

JUNE 19, 2018

The Federal Trade Commission (FTC) has announced a new law enforcement initiative targeting operations seeking to defraud small businesses. attorneys’ offices and the Better Business Bureau (BBB), the FTC has released the results of Operation Main Street: Stopping Small Business Scams. Millions of U.S.

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FTC Law Enforcement Scams Federal Trade Commission 43

PYMNTS

OCTOBER 13, 2016

In one of the latest legal twists on hackers who hold hardware and software and the data held within for ransom, Courthousenews.com reported Thursday that the Federal Trade Commission has sued five firms and three men havuing allegedly acted as masterminds behind a global Internet scam.

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FTC Federal Trade Commission Scams Advisors 66

PYMNTS

MARCH 16, 2017

In a Payday Support Center scam, the Federal Trade Commission (FTC) is coming to the rescue by sending out money to the debt victims. Here are the numbers: 561 | Number of checks mailed out by FTC. Financial debt is something that plagues everyone at one point or another in their lifetime.

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FTC Federal Trade Commission Scams Checks 40

PYMNTS

OCTOBER 2, 2020

The Straits Times , a Singapore newspaper, reported that police have received about 11 reports of purchase order (PO) scams since August. More than 200,000 Americans have lost $145 million linked to the COVID-19 pandemic since the start of the year, the Federal Trade Commission (FTC) reported last month.

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Scams Governance Government Federal Trade Commission 67

PYMNTS

MARCH 2, 2018

But when seniors do become financial victims, they typically take a bigger hit than millennials do, the Federal Trade Commission (FTC) said in a press release. Overall, the FTC is seeing that consumers are losing more money due to fraud in 2017 than 2016.

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Scams Identity Theft FTC Federal Trade Commission 55

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). But that number misses an unprecedented scope of scams connected to the coronavirus, according to John Breyault , a spokesman for the National Consumers League , the Washington, D.C.-based

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Federal Trade Commission FTC Consumer Scams 70

FICO

APRIL 20, 2023

As we see in any new payments channel, fraudsters are often first in line for exploiting weaknesses, so businesses that use RTP will need to keep a sharp eye out for scams. environment is not faring any better; according to the US Federal Trade Commission (FTC) , US consumers lost at least $8.8

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Real Time Payments Scams RTP Payments 52

PYMNTS

DECEMBER 1, 2016

The Federal Trade Commission shut down a data broker operation that allegedly cheated consumers out of $7.1 2015, the FTC brought charges against Jason A. 2015, the FTC brought charges against Jason A. The FTC claims that the defendants in the case sold applications to Ideal Financial for roughly $0.50

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FTC Scams Federal Trade Commission Consumer Protection 40

PYMNTS

JUNE 7, 2019

Allied Wallet , an online payment provider and a client of Wirecard, settled with the Federal Trade Commission (FTC) last month over charges that it helped facilitate fraud and launder money, according to a report by the Financial Times. to hide non-EU merchants, a move that the FTC said “enabled U.S.

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FTC Federal Trade Commission Money Laundering Law Enforcement 43

PYMNTS

SEPTEMBER 28, 2020

Morgan Chase is stepping up its payment fraud protection services for small- to medium-sized businesses (SMBs) to help them combat scam and fraud attempts, Reuters reported. Since August, PYMNTS reported , the Federal Trade Commission (FTC) has tracked 184,000 cases related to the pandemic.

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Federal Trade Commission FTC Payments Scams 106

FICO

MAY 20, 2021

model, which adds a Scam Detection Score to Falcon’s existing third-party fraud detection score for retail banking transfers. The Rise of Scams. According to UK Finance , 2019 saw a 45% increase in APP scams, as compared to 2018, with losses totaling £456M in 2019 alone; scam losses continued to rise in 2020 to a total of £479M.

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Scams Financial Crimes Non-Bank Crime 52