The Federal Trade Commission will send 1,064 checks totaling over $542,000 to consumers harmed by a fake investment scheme, an agency press release said Wednesday (June 1). Called the Digital Income System, the scam told consumers that if they sold memberships in the defendants’ programs,...
Australia’s corporate entities are being hit by cybercrime, with bad actors posing as customers and suppliers and committing payments fraud, among other scams. And in a smattering of examples across the US, allegations of misrepresenting overtime and misclassifying employees show two avenues of ripping off...
Bank of America has been accused in a lawsuit of providing more than 100 accounts, used to carry out a $102 million Ponzi scheme. According to Bloomberg, the class-action suit, Heinert v. Bank of America, N.A., was filed in U.S. District Court, Middle District of...
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. […]
June 01, 2022
The Federal Trade Commission will send 1,064 checks totaling over $542,000 to consumers harmed by a fake investment scheme, an agency press release said Wednesday (June 1). Called the Digital...
June 27, 2018
Bank of America has been accused in a lawsuit of providing more than 100 accounts, used to carry out a $102 million Ponzi scheme. According to Bloomberg, the class-action suit,...
