Federal Trade Commission Romance Scams Scams 
PYMNTS
FEBRUARY 25, 2020
To support scam victims, the Federal Trade Commission (FTC) will start to send refunds of over $1.7 million to consumers who fell victim to a tech support scam, the agency said in a press release. The FTC will start to provide 57,960 refunds with an average of approximately $30 to each of the scam’s victims.
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.
FICO
JULY 7, 2020
COVID-19 scams are on the rise. In a recent webinar I hosted, we learned that 31% of participants had received a communication that looks like a COVID-19 scam in the past 30 days. This can also take shape as a romance scam, where the criminal creates an enticing fake profile and builds a relationship with their unsuspecting victim.
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.
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.
PYMNTS
OCTOBER 1, 2019
bank found that one group, in particular, is most vulnerable to fraudsters’ scams. A report by Lloyds Bank noted that the share of millennial consumers who fall victim to scams increased by 400 percent in the past year, even though overall fraud incidents declined. Federal regulators in the U.S.,
FICO
APRIL 29, 2022
All these evolutions mean a changing landscape for retail fraud and scam trends. The New York Times recently ran a home page story on how criminals have concocted elaborate scams – complete with authentic ‘hold’ music – to impersonate bank customer service reps, tricking consumers into sending them money via Zelle.
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