Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. This surge in cybertheft and financial scams has prompted regulators, law enforcement agencies and financial institutions...
Fraud has a price tag — and it keeps going up. As reported by the Federal Trade Commission last week, consumers lost $8.8 billion last year to various fraud schemes, a whopping 30% over the previous year’s tally. The FTC reported that this past year...
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. In a press release, the FTC said...
Last year imposter scams bypassed identity theft for the first time as the second largest category of consumer complaints, according to the Federal Trade Commission’s (FTC) Consumer Sentinel Network in 2016. In a press release, the FTC said that while debt collection complaints declined slightly...
August 02, 2024
Consumers are turning to peer-to-peer (P2P) apps like Venmo and Zelle for quick and easy money transfers. But while these services have become ubiquitous, concerns about fraud are casting a shadow over their growth. A recent PYMNTS Intelligence report, “P2P Payment Potential: Promoting Convenience While Protecting Consumers,” in collaboration with The Clearing House, illuminates the […]
August 22, 2023
Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. This surge in cybertheft and financial scams has prompted regulators, law enforcement agencies and financial institutions to take urgent action to protect consumers, Bloomberg reported Tuesday (Aug. […]
March 01, 2023
Fraud has a price tag — and it keeps going up. As reported by the Federal Trade Commission last week, consumers lost $8.8 billion last year to various fraud schemes,...
December 03, 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...
March 06, 2017
Last year imposter scams bypassed identity theft for the first time as the second largest category of consumer complaints, according to the Federal Trade Commission’s (FTC) Consumer Sentinel Network in...
