PYMNTS

MARCH 31, 2020

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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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.

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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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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. PIRG Education Fund, told CNBC. “We We all need to be on our guard.

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PYMNTS

APRIL 22, 2020

Since Tuesday (April 21), the DOJ said the FBI’s Internet Crime Complaint Center (IC3) has reviewed more than 3,600 complaints related to COVID-19 scams. A cooperative effort between police and businesses has shut down hundreds of websites established to exploit the coronavirus pandemic, according to the U.S Department of Justice (DOJ).

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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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PYMNTS

JUNE 9, 2020

A Texas operator of several payment processing centers has agreed to be permanently banned from the industry in order to settle charges by the Federal Trade Commission (FTC) and the state of Ohio that they unlawfully participated in scams, according to a press release. District Court for the Western District of Texas.

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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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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.

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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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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. It’s a scam.”. The FTC’s advice when one receives those messages is blunt: “Stop. Don’t pay anything.

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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.

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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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PYMNTS

NOVEMBER 18, 2016

17) of a new tax bill scam in which unwitting consumers receive a fake IRS notice that contends they owe the government money because of the Affordable Care Act. This is just the latest in a series of scams designed to cheat taxpayers out of their hard-earned cash. The Internal Revenue Service warned Thursday (Nov.

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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. But the scams are not limited to the giant states. million to date, according to the FTC.

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Innovative Payments Association

JUNE 26, 2024

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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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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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. Imposter scams, which involve someone impersonating a family member or someone in authority, were the third most common consumer complaint.

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PYMNTS

DECEMBER 3, 2019

These bad actors often take advantage of the chaos to steal credit cards, scam merchants and wreak other types of retail havoc. Reshipping scams are one such nefarious activity that consumers must be wary of during the season. Helping Consumers, Merchants Avoid Reshipping Scams.

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PYMNTS

MARCH 7, 2018

The Federal Trade Commission (FTC) has announced that new Medicare cards will be mailed out starting next month. But as the new Medicare cards start being mailed, there might be an uptick in related scams. A request for payment to get a new card is a sign of a possible scam.

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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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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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PYMNTS

JANUARY 4, 2017

Increasingly, it is designed to scam consumers. The call center worker said that, if the person seems scared or fell for the scam, they would tell them to purchase thousands of dollars in iTunes cards to prevent being thrown in jail. NYT noted this scam is being tracked by the U.S.

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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.

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PYMNTS

AUGUST 11, 2020

Congress has yet to agree on the next round of stimulus funding, but the Federal Trade Commission ( FTC ) is already warning the public to beware. Consumers who spot a scam should contact the FTC at ftc.gov/complaint.

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PYMNTS

FEBRUARY 11, 2019

The Federal Trade Commission said it will send refund checks to people who were victims of a tech support scam.

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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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The Paypers

MARCH 5, 2018

(The Paypers) Figures released by the Federal Trade Commission’s 2017 Consumer Sentinel Network Data show that imposter scams were the most costly type of fraud.

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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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PYMNTS

APRIL 20, 2018

The potential for bitcoin to be used to scam investors has been a primary concern for many countries. federal court cracked down on four individuals behind a cryptocurrency pyramid scheme. The news comes a few months after the country launched an initiative to identify blockchain scammers. And last month, a U.S.

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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 of the most popular scams included eCommerce sites not delivering items that had been promised.

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The Fintech Times

NOVEMBER 9, 2024

Online cash advance app, Dave is feeling the heat from the Federal Trade Commission (FTC) as the regulator has taken action against it for misleading marketing. I feel cheated/scammed by this whole process.” One consumer cited in the complaint said: “The interface is set up to trick you into giving the tip.

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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.

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PYMNTS

JANUARY 28, 2021

PYMNTS recently reported Federal Trade Commission (FTC) figures finding, “More than 200,000 Americans were scammed out of $145 million relating to the pandemic since the beginning of 2020.” Consumers Getting Wise To Scams. Fortunately, the general population is getting savvier about cyber scams.

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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. Complaints at the time stemmed from canceled travel and vacations as well as online shopping issues and government imposter scams.

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PYMNTS

JULY 27, 2016

Victims of an illegal credit card billing scam have started receiving checks from the Federal Trade Commission. million, to the 321,982 consumers that were victims of the scam by J.K. The FTC said it has begun mailing checks, amounting to $9.7 Publications, as well as other defendants.

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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. In another recent FTC-related refund, the agency compensated victims of a tech support scam , sending out $1.7 Analytics Inc.,

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