PYMNTS-MonitorEdge-May-2024

FTC

FTC Refunds $4.1 Million to Student Loan Scam Victims
FTC Refunds $4.1 Million to Student Loan Scam Victims
March 13, 2024  |  Security & Fraud

The FTC is sending millions in refunds to victims of a student fraud scheme. The $4.1 million payments will go to some 27,000 consumers who were duped by a...

READ MORE >
Fraudsters Exploit Cloud Access Points to Orchestrate Sophisticated Attacks
Fraudsters Exploit Cloud Access Points to Orchestrate Sophisticated Attacks
March 06, 2024  |  Cybersecurity

Recent data from the Federal Trade Commission (FTC) shows that U.S. fraud losses topped $10 billion in 2023, indicating that the risk of cybercrime has soared to...

READ MORE >
FTC Issues Proposal to Ban Impersonations as Fraud Rises
FTC Issues Proposal to Ban Impersonations as Fraud Rises
February 15, 2024  |  Fraud Prevention

The Federal Trade Commission (FTC) is proposing a new set of rules that would prohibit the impersonation of individuals. Citing growing complaints around impersonation fraud, the FTC...

READ MORE >
FTC Secures $20.3 Million Judgment in Merchant Cash Advance Case
FTC Secures $20.3 Million Judgment in Merchant Cash Advance Case
February 14, 2024  |  Legal

The Federal Trade Commission (FTC) has secured a judgment requiring former merchant cash advance operator Jonathan Braun to pay $20.3 million in monetary relief and civil penalties....

READ MORE >
Consumer Fraud Loss Tops $10 Billion, Aided by Digital Tools, FTC Says
Consumer Fraud Loss Tops $10 Billion, Aided by Digital Tools, FTC Says
February 09, 2024  |  Fraud Attack

Consumers lost a record $10 billion to fraud in 2023, with digital tools making it easier for scammers to find targets. That total is 14%...

READ MORE >
FTC Sending $610,000 in Refunds to Tech Support Scam Victims
FTC Sending $610,000 in Refunds to Tech Support Scam Victims
February 08, 2024  |  Security & Fraud

The Federal Trade Commission (FTC) has begun sending refunds to consumers who lost money in a tech support scam facilitated by payment processor Nexway. This move follows a...

READ MORE >
FTC Probes Big Tech and GenAI Partnerships’ Impact on Competition
FTC Probes Big Tech and GenAI Partnerships’ Impact on Competition
January 25, 2024  |  Artificial Intelligence

The Federal Trade Commission has begun an inquiry into investments and partnerships in the generative artificial intelligence sector. The regulator has ordered Google parent company Alphabet, Amazon, Anthropic, Microsoft and OpenAI to provide information...

READ MORE >
FTC Upholds September Ruling Finding Intuit’s ‘Free’ Products Advertising Deceptive
FTC Upholds September Ruling Finding Intuit’s ‘Free’ Products Advertising Deceptive
January 23, 2024  |  Regulation

Intuit, the maker of TurboTax tax filing software, has been found to have engaged in deceptive advertising practices, according to an Opinion and Final Order issued by the Federal Trade Commission (FTC). The...

READ MORE >
ElevenLabs Raises $80 Million for AI Voice Cloning Projects
ElevenLabs Raises $80 Million for AI Voice Cloning Projects
January 22, 2024  |  Investments

Voice technology firm ElevenLabs’ value has topped $1 billion after its latest funding round. The company announced its $80 million Series B Monday (Jan. 22), saying the funds would...

READ MORE >