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FTC Warns Of COVID Scams, Cracks Down On Fake Job Schemes

PYMNTS

The Federal Trade Commission (FTC) has announced a new operation, Operation Income Illusion, to crack down on fraudsters targeting victims with fake promises of jobs or income, according to a press release. The FTC is working with 19 other federal, state and local law enforcement partners in the effort.

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Coronavirus Scams Trigger Surge In FTC Complaints

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The Federal Trade Commission (FTC) reported in a press release that it has received over 7,800 complaints from consumers all relating to the coronavirus pandemic, twice the number it received just a week ago. Information will detail the types of coronavirus-related scams reported and what people can do to avoid falling victim.

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Fraudsters Find New Opportunities With Vaccine And Stimulus Scams

PYMNTS

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. million in coronavirus-related fraud this year and 38,792 cases of identity theft.

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Millenials Lose More Money To Scams Than Seniors

PYMNTS

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. Identity theft complaints followed close behind, making up nearly 14 percent of all complaints.

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Study: COVID-19 Fraud Reaches $100M

PYMNTS

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. But the scams are not limited to the giant states.

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FTC Announces New Medicare Cards And Scam Prevention Tips

PYMNTS

The Federal Trade Commission (FTC) has announced that new Medicare cards will be mailed out starting next month. The new cards are being issued to protect consumers from identity theft. But as the new Medicare cards start being mailed, there might be an uptick in related scams.

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It Can Help Happen to You

Innovative Payments Association

Fraud and scam activity can happen to anyone. There are a lot of senior citizens who are not as lucky or haven’t been that fortunate when it comes to scams or fraud. Scams targeting senior citizens are unfortunately all too common and often can be devastating. Use contact information from official sources.

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