The Federal Trade Commission (FTC) is warning consumers about a “massive jump” in a form of online job scams called “task scams.” The FTC received 20,000 consumer reports about task scams in the first half of 2024 — a figure that was up from 5,000 in...
The FTC is sending almost $500,000 in payments to consumers it says were harmed by Vivint Smart Homes. According to a Wednesday (Dec. 4) news release, the Federal Trade Commission (FTC) alleges that the home security company misused credit reports to get “unqualified customers” financing for Vivint’s products and...
Law enforcement is warning U.S. banks about the danger of AI-powered identity fraud schemes. The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued an alert Wednesday (Nov. 13) to help financial institutions spot scams associated with the use of deepfake media created using generative artificial...
Financial scams have never been more prevalent, but quality data on the number of victims and scale of their losses remains limited. For consumer-facing financial institutions (FIs), understanding the true scale of these scams is critical to protecting their customers. PYMNTS Intelligence’s research finds that...
October 07, 2024
The line from “The Godfather” rings true in the age of digital fraud and stolen identities: It’s not personal; it’s strictly business. A guiding principle of business is diversification. The more diversified one is, the more likely one will see a return on investment. Fraud is a business, and the criminals seek ROI. “We’re not […]
July 24, 2024
The Security Summit has issued a stern warning to tax professionals, urging them to heighten their awareness of indicators of identity theft as part of the ongoing “Protect Your Clients;...
June 26, 2024
Bryan Lewis, CEO of Intellicheck, has a stark take on just how severe the damage a fraudster can inflict with a few bits of information. “People don’t realize how easy...
May 21, 2024
Staying one step ahead of the bad guys is becoming more difficult by the day for financial services companies. For example, identity verification is a double-edged sword. While necessary for...
December 15, 2024
Rhode Island’s public benefits system has reportedly been targeted in a ransomware attack. Hackers breached the online system and have threatened to disclose users’ personal information unless they get a payment, Bloomberg News reported Saturday (Dec. 14). This data could be exposed “as early as this coming week,” Gov. Dan McKee said Saturday at a […]
December 12, 2024
The Federal Trade Commission (FTC) is warning consumers about a “massive jump” in a form of online job scams called “task scams.” The FTC received 20,000 consumer reports about task scams...
December 05, 2024
The FTC is sending almost $500,000 in payments to consumers it says were harmed by Vivint Smart Homes. According to a Wednesday (Dec. 4) news release, the Federal Trade Commission (FTC) alleges that the...
November 13, 2024
Law enforcement is warning U.S. banks about the danger of AI-powered identity fraud schemes. The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued an alert Wednesday (Nov. 13) to help...
