scams

Spot and avoid scams and unfair, deceptive, and fraudulent business practices with tips from the FTC, America's consumer protection agency. Learn about recent scams and how to recognize the warning signs.

Source: consumer.ftc.gov

CFPB Reaches $2.7 Billion Settlement With Credit Repair Firms
CFPB Reaches $2.7 Billion Settlement With Credit Repair Firms
August 28, 2023  |  CFPB

America’s biggest credit repair companies could be forced to give up telemarketing. That’s according to the Consumer Financial Protection Bureau (CFPB), which announced Monday (Aug. 28) that it had...

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Bankrupt Crypto Lender Voyager Digital Reports Possible Breach
Bankrupt Crypto Lender Voyager Digital Reports Possible Breach
August 01, 2023  |  Cryptocurrency

Bankrupt crypto lender Voyager Digital Holdings has reported a possible breach, revealing the difficulties of protecting customers from online scammers. The firm’s lawyer, Darren Azman, reported the...

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IRS Reduces Unannounced Visits Due to Increased Security Concerns
IRS Reduces Unannounced Visits Due to Increased Security Concerns
July 24, 2023  |  Security & Fraud

Unannounced visits by IRS revenue officers will be replaced with mailed letters to schedule meetings, except in a few unique circumstances. Increased security concerns and the presence of scam...

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Worldcoin or World Con? Sam Altman’s Newest Venture Draws Skepticism
Worldcoin or World Con? Sam Altman’s Newest Venture Draws Skepticism
July 24, 2023  |  Cryptocurrency

If a technology service is free, you are the product — not the customer. As OpenAI CEO Sam Altman officially launches his cryptocurrency project, Worldcoin,...

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Australia’s NAB Bars Payments to ‘High Risk’ Crypto Exchanges
Australia’s NAB Bars Payments to ‘High Risk’ Crypto Exchanges
July 17, 2023  |  Banking

National Australia Bank is blocking some cryptocurrency payments amid a nationwide wave of crypto scams. The bank (NAB) on Monday (July 17) announced it was introducing new customer...

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PYMNTS Intelligence: Why FinTechs Are Leaning Into AI to Fight Changing Fraud Threats
PYMNTS Intelligence: Why FinTechs Are Leaning Into AI to Fight Changing Fraud Threats
July 13, 2023  |  Fraud Prevention

As financial fraud evolves in the digital age, the picture that emerges is a complex one. On one hand, fraud in 2022 was at its...

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Senators Call for New Rules to Combat AI-Powered Scams
Senators Call for New Rules to Combat AI-Powered Scams
July 07, 2023  |  Fraud Prevention

Senators have called on regulators to protect consumers from artificial intelligence (AI)-powered scams. In a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra,...

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Biden Administration Proposes Rules Targeting ‘Junk Fees’ in Health Insurance
Biden Administration Proposes Rules Targeting ‘Junk Fees’ in Health Insurance
July 07, 2023  |  Regulation

The President Joe Biden administration has proposed restrictions on “junk insurance” plans that don’t meet the standards of the Affordable Care Act. These short-term plans have taken advantage...

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Report: Hacker Group Demands Reddit Reverse Plans to Charge Fees
Report: Hacker Group Demands Reddit Reverse Plans to Charge Fees
June 20, 2023  |  Security & Fraud

A hacker group has reportedly raised the stakes after getting no response from Reddit. The group known as BlackCat is now not only demanding a $4.5...

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