FTC, Identity Theft and Scams

Coronavirus Scams Trigger Surge In FTC Complaints

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. Complaints are stemming from travel and vacation cancellations as well as online shopping issues and government imposter scams.

FTC

FTC Scams Federal Trade Commission Identity Theft

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

PYMNTS

DECEMBER 14, 2020

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.

FTC

FTC Scams Federal Trade Commission Law Enforcement

Study: COVID-19 Fraud Reaches $100M

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.

FTC

FTC Federal Trade Commission Scams Identity Theft

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Fraudsters Find New Opportunities With Vaccine And Stimulus Scams

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

Scams

Scams IRS Federal Trade Commission FTC

FTC Announces New Medicare Cards And Scam Prevention Tips

PYMNTS

MARCH 7, 2018

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. The FTC is requesting that once the new cards are received, the old ones should be shredded immediately.

FTC

FTC Scams Identity Theft Federal Trade Commission

Millenials Lose More Money To Scams Than Seniors

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.

Scams

Scams Identity Theft FTC Federal Trade Commission

5 Ways to Combat Fraud During the Holidays

FICO

NOVEMBER 24, 2020

The fraud problem has gone viral - consumers have filed more than 130,000 reports of fraud to the FTC and have lost $182 million to these activities during the pandemic. Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. It Pays to Protect Yourself.

Identity Theft

Identity Theft Scams Online and Mobile Banking Account Takeovers

Debt Collection Tops ID Theft On FTC Complaint List

PYMNTS

MARCH 2, 2016

Among the key subjects of complaints that washed over the Federal Trade Commission’s Consumer Sentinel Network last year included debt collection, identity theft and scams related to impostors. The identity theft designation has been the top complaint category for the past 15 years, said the FTC.

FTC

FTC Identity Theft Law Enforcement Scams

How PNC Is Fighting Pandemic-Fueled Financial Crime

PYMNTS

MAY 21, 2020

The new Preventing Financial Crimes Playbook explores the latest financial crime developments, including a rise in financial fraud related to the ongoing COVID-19 pandemic, new threats targeting digital payment apps and guidance from PNC Financial Services on how multilayered defense systems can help curb the tide of digital scams.

Financial Crimes

Financial Crimes Crime Identity Theft Federal Trade Commission

Stopping Scams with Artificial Intelligence and Machine Learning

FICO

NOVEMBER 30, 2022

Stopping Scams with Artificial Intelligence and Machine Learning. Artificial intelligence and machine learning models can help banks stop scams, prevent losses to fraudsters and improve customer experience. Consumers are not as worried about APP fraud and scams as they are for other types of fraud, but awareness is growing.

Scams

Scams Push-to-Card Fraud Prevention CashApp

Real-Time Payments Survey Reveals Growth in Usage - and Scams

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

Real Time Payments

Real Time Payments Scams RTP Payments

CFPB Consumer Complaints Up 50 Pct During Pandemic

PYMNTS

JULY 20, 2020

In related news, the Federal Trade Commission (FTC) reported that its top complaint has been fraud, according to a PYMNTS report. There were over 47,000 fraud complaints from March through June, alongside over 14,000 identity theft complaints and nearly 4,000 Do Not Call complaints.

CFPB

CFPB Consumer Financial Protection Bureau (CFPB) Consumer Identity Theft

Why Online Retail Fraud Is On the Rise

PYMNTS

NOVEMBER 4, 2019

From counterfeiting to identity theft to phishing attacks, digital fraud takes many forms — and online shopping continues to make consumers and merchants vulnerable to such attacks. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

Online and Mobile Banking

Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention

Top 5 Surprises from FICO’s Fraud and Digital Banking Survey

FICO

DECEMBER 5, 2022

A report released by the FTC in February 2022 indicates a 71% increase in fraud in 2021, which cost consumers roughly $5.8 million identity theft reports filed in 2021, many of which relate back to banks and lenders. Stopping Scams with Artificial Intelligence and Machine Learning. million consumer fraud and 1.4

Online and Mobile Banking

Online and Mobile Banking Authentication Identity Theft Security

Payments Space

Coronavirus Scams Trigger Surge In FTC Complaints

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

Study: COVID-19 Fraud Reaches $100M

Webinars

Fraudsters Find New Opportunities With Vaccine And Stimulus Scams

FTC Announces New Medicare Cards And Scam Prevention Tips

Millenials Lose More Money To Scams Than Seniors

5 Ways to Combat Fraud During the Holidays

Debt Collection Tops ID Theft On FTC Complaint List

How PNC Is Fighting Pandemic-Fueled Financial Crime

Stopping Scams with Artificial Intelligence and Machine Learning

Real-Time Payments Survey Reveals Growth in Usage - and Scams

CFPB Consumer Complaints Up 50 Pct During Pandemic

Why Online Retail Fraud Is On the Rise

Top 5 Surprises from FICO’s Fraud and Digital Banking Survey

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