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☆ Credit Cards Are Smarter: Better Fraud Detection, No Travel Alerts
▼ + stars: | 2024-05-12 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

I don't know how JPMorgan Chase knew that I would spend $200 on Botox in Argentina, but it did. It's great that banks and credit-card companies are getting better at discerning which payments are fraudulent and which are legit. Credit-card fraud protection is still far from perfect, but there's no denying that the technology is improving. So I reached out to some credit-card companies and academics to learn more. But it's cool that companies really are making fraud detection better, especially in a world where fraudsters themselves are constantly getting better.

Persons: JPMorgan Chase, it's, Nilson, We've, that's, Tina Eide, Eide, Mike Lemberger, they've, Lemberger, here's, Yann, Aël Le Borgne, Gianluca Bontempi, Bontempi, I'd, Le Borgne, somebody's, Emily Stewart Organizations: Citibank, JPMorgan, Federal Trade Commission, American Express, Netflix, Libre de Bruxelles, Companies, Visa, Citi, Business Locations: California, Buenos Aires, Botox, Argentina, North America, Belgium, Lemberger

☆ India election and economy: Meet the winners of rising power’s boom
▼ + stars: | 2024-05-10 | by ( Jessie Yeung | Noemi Cassanelli | ) edition.cnn.com time to read: +14 min

Mumbai, India CNN —As Indians head to the polls in a massive ongoing nationwide election, much attention has focused on the country’s explosive growth under Prime Minister Narendra Modi’s leadership. There is expected to be 740 million active smartphone users in India by 2030, according to EY India. “I wanted to make similar shoes that were printed with ‘Made in India,’” Shah says. After four years of trial and error, Shah Shoes was born. Some 17 years on, Shah Shoes has helped support his family back in Bihar, including six siblings.

Persons: Narendra Modi’s, — Modi, Javed Khatri, Noemi Cassanelli, he’d, Khatri, “, ”, –, ’, Apoorva Mukhija, —, Instagram, Mukhija, ” Mukhija, That’s, she’s, she’d, Jameel Shah, CNN Jameel Shah, Shah, wasn’t, CNN Shah, Kylie Minogue, ” Shah, ‘, ’ ” Shah, Shah Shoes, Priyanka Chopra, Katrina Kaif, He’s, Modi’s Organizations: India CNN, Bharatiya Janata Party, BJP, CNN, EY, World Bank, Facebook Locations: Mumbai, India, “, Bangalore, Silicon, ”, EY India, Dubai, London, California, …, Delhi, Bihar, India’s, Dharavi, Australian

☆ China has a 'fake gold' problem — locals are getting scammed into buying artificial jewelry
▼ + stars: | 2024-05-03 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Gold bracelets at a gold jewelry store in the Zhejiang Province of China. Thousands of people in China have been duped into forking out money on "fake gold" — inferior or artificial gold — after trying to purchase so-called "999 gold" online, according to the government. The purest form of gold is commonly referred to as 999 gold, because it has gold content of 99.9%. "Fake gold is becoming a major problem in China as more Chinese are looking to put their savings into gold," said China Market Research Group's Managing Director Shaun Rein. Fake gold gets darker or reveals a greenish color when placed under flame, while pure gold turns brighter on exposure to heat.

Persons: Shaun Rein, Nikos Kavalis, Rein, Taobao, Pinduoduo Organizations: Visual China, Getty, Research, India, World Gold, Metals, ChinaFotoPress Locations: Zhejiang Province, China, scammers, Nantong

☆ College students desperate for jobs are getting scammed online by criminals posing as tech recruiters
▼ + stars: | 2024-05-01 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +4 min

College students are increasingly targeted by job recruitment scammers, the FTC warned. Scammers use fake listings and pose as recruiters to steal money and identities. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But they can also target a college student's identity or bank information. AdvertisementThe Wall Street Journal recently interviewed students who had encountered scammers during their job hunts.

Persons: —, scammers, Murray Organizations: FTC, Service, Street, Microsoft, Murray Resources Locations: Houston

☆ US soldier at Fort Bragg sentenced for running romance scam
▼ + stars: | 2024-04-21 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

A federal judge sentenced a former Army service member to prison for running a romance scam. Romance scams cost Americans $1.3 billion in 2022. AdvertisementA US soldier will spend more than three years in federal prison for a romance scam in which police say he impersonated military officials. Before his arrest, Frimpong was an active-duty Army service member stationed at Fort Bragg, the department said. "The fact that an Army service member was involved in romance scams while serving as a soldier is appalling."

Persons: —, Sanda G, Frimpong, Kate Kleinert, Kleinart, Tom Tanner, Michael Easley Organizations: Army, Service, Department of Justice, Federal Trade Commission, Yahoo, Wired, Social Security, Justice Department, Business Locations: Fort, United States, Nigeria

☆ Taylor Swift fans lose at least $1 million to Eras Tour scams in the UK
▼ + stars: | 2024-04-18 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Thousands of Taylor Swift’s UK fans have been duped into buying fake tickets for her upcoming Eras Tour concerts, according to a major British bank. With all UK dates now sold out, desperate fans are more likely to turn to resale sites and social media for tickets. Lloyds said it expects to see “many more fans fall victim to ticket scams in the coming weeks and months,” leading up to the first concert in Edinburgh, Scotland. According to UK Finance, a financial services industry association, Brits lost more than £40 million ($50 million) to “purchase scams,” including sales of fraudulent tickets, in the first half of last year. In November, the bank warned customers over ticket scams relating to Glastonbury, the popular outdoor music festival held annually in England in the summer.

Persons: Taylor Swift’s, —, Swift, ”, you’re, Liz Ziegler, you’ve, nothing’s, they’ve, Kirsty Adams, Taylor Swift Organizations: London CNN, Lloyds Bank, “, Lloyds, Ticketmaster, UK Finance, HSBC, Europe’s, CNN, Barclays, Glastonbury, Olympics Locations: British, Singapore, United States, United Kingdom, Edinburgh, Scotland, Glastonbury, England

☆ Taylor Swift fans in the UK have been scammed out of $1.2 million, bank says
▼ + stars: | 2024-04-17 | by ( Katie Balevic | Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

UK Taylor Swift fans have lost over $1.2 million to Eras Tour ticket scams, Lloyds Bank says. Most of the ticket scams targeted 25- 34-year-olds through fake ads on Facebook. AdvertisementIt looks like it's heating up to be a Cruel Summer — at least for Swifties in the United Kingdom seeking Eras Tour tickets. Fans of Taylor Swift have already been scammed out of over $1.2 million trying to purchase concert tickets, mostly through Facebook, according to Lloyds Bank. "For her legion of dedicated Swifties, the excitement is building ahead of Taylor's Eras Tour finally touching down in the UK this summer.

Persons: Taylor Swift, —, Liz Ziegler, Swift, Alma Galvan Organizations: Lloyds Bank, Facebook, Service, Swifties, United, Lloyds, Ticketmaster, Business, San Francisco Better Business, ABC, BBB, Facebook Marketplace, Paypal Goods, Services Locations: United Kingdom, United States

☆ Cash App: Safety Features to Help Protect You From Scams
▼ + stars: | 2024-04-11 | by ( Business Insider | Cash App | ) www.businessinsider.com time to read: +5 min

Popular payment app scamsAccording to Cash App, some of the most common payment app scams include:Giveaways — Look out for giveaways that require you to complete a "test transaction" on a mobile payment app, especially using hashtags like #cashappgiveaway and #cashappfriday. Based on the specifics, they along with Cash App can advise you on what to do next. Don't forget, payments on Cash App are immediate and you should use caution when sending payments to individuals that you don't know. Can you reverse a Cash App payment you've already made? If your Cash App payment has already been completed, it can't be reversed.

Persons: it's, Cash, you've Organizations: Paypal, Security, Federal Trade Commission

☆ Americans lost over $1 million last year falling for online puppy adoption scams, largely on Facebook Marketplace
▼ + stars: | 2024-04-07 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Americans were scammed out of over $1 million in online puppy frauds last year. AdvertisementA shocking number of Americans are falling for online puppy scams. The Better Business Bureau said it received thousands of reports of puppy scams last year, totaling more than $1 million in losses, according to veterinarians.org. AdvertisementThe prevalence of puppy scams online has led to an official crackdown. The Illinois Attorney General's office, for instance, charged one man with 16 different felonies related to an online puppy scam in January.

Persons: —, veterinarians.org, Katherine Smith, Smith, Prosecutors, Kwame Raoul Organizations: FTC, Service, Better Business Bureau, BBB, Facebook, Craigslist, ABC News, Federal Trade Commission, Illinois, Homeland Security Investigations Locations: North Carolina, Yorkshire, Illinois

☆ Barry Diller says Trump Media is 'a scam' and people buying shares are 'dopes'
▼ + stars: | 2024-04-04 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Barry Diller thinks that shareholders of Truth Social's owner have been scammed. The IAC chairman pointed to Trump Media's low revenue and said he doubts Truth Social will grow. Shares for Trump Media and Technology Group initially surged after going public, but have since tumbled. AdvertisementBarry Diller has a message for Trump Media shareholders: "I think they're dopes." But that moment in the sun was short-lived, and shares of the former president's social media platform have since come crashing down to earth.

Persons: Barry Diller, — Organizations: Truth, IAC, Trump, Trump Media, Technology Group, Service, Business

☆ I moved to Spain from California and bought 2 properties for less than $370,000. The process was shockingly easy compared to owning a home in Oakland.
▼ + stars: | 2024-04-01 | by ( Kaila Yu | ) www.businessinsider.com time to read: +7 min

In January 2023, we moved from Oakland, California, to Valencia, Spain. Leong and her husband moved to Valencia, Spain, in 2023. Valencia, Spain, showed up as a low-cost place to live and within a year, we purchased two properties there — all cash. I believe in buying property to live here and contribute to the community instead of simply purchasing property as an ex-pat as an investment. AdvertisementWhen purchasing property in Spain, you must be carefulLeong taking tea into her terrace area.

Persons: —, May Leong, It's, Leong, Spain —, he's, we'd, Leong Valencia, aren't, Valencia haven't Organizations: Service, Business, Oakland, Irish EU, pats, Facebook Locations: Oakland, Valencia, Spain, Limerick, Ireland, Europe, Oakland , California, Lisbon, California, States, Irish

☆ My whole family shares their location with each other. As an admitted worrier, I don't check it often.
▼ + stars: | 2024-03-25 | by ( Jennifer Cannon | ) www.businessinsider.com time to read: +4 min

I can see my husband and two daughter's location at all times. I don't need to know everything my kids do, when knowing where they are gives me peace of mind. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It's always been because of a delayed flight, and I do sometimes check his location instead of calling. AdvertisementAt the end of the day, the positives far outweigh the negatives for location-sharing when it comes to our family.

Persons: —, worrier, we've, texted, I've, unabashedly, We're, should've, It's, he's, Jennifer Organizations: Service, Business Locations: New Jersey

☆ I was a first-time homebuyer and got scammed out of $167,000 of my life savings
▼ + stars: | 2024-03-23 | by ( Jordan Hart | ) www.businessinsider.com time to read: +7 min

Pat and Marisa Lawlor were the victims of real estate wire fraud in 2022. The realizationThe real email came exactly one week after the scammers made off with Lawlor's money, he said. The methodIt turns out that the scammers hacked into the escrow office's email server through a process called business email compromise. With real estate wire fraud, they target mom-and-pop independent brokers, escrow, or title companies like the one we used. We've started a GoFundMe fundraiser to get that money back and raise awareness about real estate wire fraud.

Persons: Pat, Marisa Lawlor, They've, —, Pat Lawlor, Marisa, We'd, San Fernando Valley, Lawlor, That's, it's, It's, we've, We've Organizations: Service, California Association of Realtors, Riverside, States Secret Services Locations: Los Angeles, San Fernando, Riverside County

☆ Fed-up 23andMe users lash out at the company, accusing it of scamming them into auto-renewal
▼ + stars: | 2024-03-13 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

Read previewIf you think you've been charged for a 23andMe subscription renewal even though you know you cancelled it, you're in good company. The Federal Trade Commission released over a hundred complaints that 23andMe users had submitted since the beginning of 2023, after Gizmodo submitted a FOIA request for the documents. In many of those complaints, some of which Gizmodo published, users detailed renewal practices that they considered dubious and unethical. I turned off the auto-renewal, which this company does not make easy to do and does not send a confirmation about. A spokesperson for 23andMe told Gizmodo that the company does send a notification to customers 30 days before their subscription is set to renew.

Persons: —, you've, Gizmodo, 23andMe, Reddit Organizations: Service, Fed, Business, Federal Trade Commission, 23andMe

☆ I pay $2,000 to live with 15 roommates in a Harlem townhouse. My biggest fear was loneliness — this is the perfect solution.
▼ + stars: | 2024-03-12 | by ( Elle Hardy | ) www.businessinsider.com time to read: +6 min

You're screened before you can move inThe Cohabs team ensures you have the right vibe and are there for the right reasons before you can sign a lease. The rent is fair to me for what I getA bedroom in a Cohabs house. AdvertisementThe roof deck in a Cohabs house. One of the kitchens in a Cohabs house. The Cohabs team really emphasizes this — on the first Sunday of every month, they send us a brunch for everyone to bond over.

Persons: —, Elisa, Cohabs, There's, Cohabs I've, would've, We've Organizations: Service, Business Locations: New York City, Paris, New York, France, Brooklyn, Manhattan, Harlem, Europe

(AP) — A Nebraska woman allegedly found a lucrative quirk at a gas station pump — double-swipe the rewards card and get free gas! The 45-year-old woman was arrested March 6 and faces felony theft charges accusing her of a crime that cost the gas station nearly $28,000. But the company was unaware of a glitch that allowed anyone swiping a rewards card twice to put a gas pump into demonstration mode. In demo mode, the user could pump gas at no cost. A probable cause statement from prosecutors said the loss-prevention manager determined that one particular card had been used repeatedly to obtain free gas.

Persons: LINCOLN, Thompson Organizations: —, Prosecutors, Police, Bosselman Enterprises, Authorities Locations: Neb, Nebraska, Lincoln

☆ My dad almost paid a ransom after being told I was kidnapped — but it was all a scam
▼ + stars: | 2024-02-29 | by ( Conz Preti | ) www.businessinsider.com time to read: +4 min

In 2017 my dad called me panicked in the middle of the night. AdvertisementI remember vividly the sound of my dad's voice asking me to turn on the camera on my phone. AdvertisementScammers called him in the middle of the nightThe next day, my dad explained what had happened. Someone called him in the middle of the night and told him I had been kidnapped and he needed to pay a ransom if he wanted to see me again. AdvertisementMy dad called me at 2 a.m.My dad gave my mom the phone and asked her to get the wire transfer information from them.

Persons: —, Scammers, Zers Organizations: Service, FBI Locations: Brooklyn, New York City, Argentina, Argentine

Payment apps have come under scrutiny by lawmakers and regulators as their usage skyrockets. That ease of use has 80% of Americans using mobile payment apps, according to a recent survey by NerdWallet. Transaction volume across all payment app service providers in 2022 was estimated at about $893 billion, according to the Consumer Financial Protection Bureau. Lawmakers are also calling on payment app companies to clarify their reimbursement policy if consumers get scammed and to make it easier for users to report fraud. In the meantime, experts say that consumers need to understand how these apps work, the fees that may be charged and the risks involved in storing money in a mobile payment app.

Persons: Amy Zirkle, Sen, Sherrod Brown Organizations: Consumer Financial, Finance, Democratic, Capitol, Banking Locations: Ohio

☆ What Amazon, the F.T.C. and C.I.A. Won’t Say When You’ve Been Scammed
▼ + stars: | 2024-02-16 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

When New York magazine’s finance advice columnist dropped an article that went viral on Thursday about falling victim to a $50,000 scam, my heart skipped a beat. My own financial planner had gone to jail years ago, which I’d chronicled in a few columns. What would I have done if someone called and insisted that my children, in particular, were in grave danger? But what would any of those entities do if they thought that any one of us was actually a victim of some kind of identity fraud? What would they say, request and tell us to do?

Persons: I’d, Charlotte Cowles, ” Organizations: New York Times, Federal Trade Commission, Central Intelligence Agency Locations: York

☆ You have to read this story about a woman who was scammed out of $50,000
▼ + stars: | 2024-02-16 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +2 min

New York Magazine's personal finance writer just published a personal essay about how she was scammed. Believing she was talking to the FBI, she handed a shoebox with her $50,000 in savings in cash to a stranger. New York Magazine published an astonishing personal essay from one of their writers (a personal finance writer, no less!) Charlotte Cowles says she was scammed out of $50,000. Just read it: The Day I Put $50,000 in a Shoe Box and Handed It to a Stranger

Persons: —, Charlotte Cowles, Dia Dipasupil, they'd Organizations: FBI, Service, New York Magazine

“Losing the love was worse than losing the money,” said Kleinart, 70, who lost tens of thousands to a romance scam over several months. Last year, the Federal Trade Commission received over 64,000 romance scams reports that translated into $1.14 billion in reported losses. Romance scams often target lonely and isolated individuals, according to Will Maxson, assistant director of the Division of Marketing Practices at the FTC. Specifically for older people, romance scams are among the most common scams, said Kathy Stokes, director of fraud prevention at AARP. However, she noted people from all ages can fall for a romance scam.

Persons: Kate Kleinart, ”, Kleinart, Will Maxson, “, —, Kathy Stokes, Genevieve Waterman, Waterman, ” Waterman, scammers, it’s, Stokes, Hey, ” Stokes, Charles Schwab Organizations: Federal Trade Commission, FTC, AARP, National Council, Aging, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Spain

☆ Passengers are furious after Norwegian Cruise Line removed Antarctica from its itinerary after everyone had boarded
▼ + stars: | 2024-02-13 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +4 min

Norwegian Cruise Line passengers are upset over a sudden itinerary change, skipping Antarctica. AdvertisementPassengers aboard a Norwegian Cruise Line ship are furious about a change in their itinerary which means they are no longer heading to Antarctica. Those aboard the cruise ship were expecting to travel to Antarctica and South America. But after they boarded, they noticed the trip's name was quietly changed on the app to "Round-trip of South America" last week. Business Insider has reached out to @ruinedvacation and Norwegian Cruise Line for comment.

Persons: —, @ruinedvacation, They've, we're, Shane C Grant Organizations: Cruise, Passengers, Service, Norwegian Cruise, Norwegian, NZ Herald, Facebook, Norwegian Star South, NCL, MSC Cruises, Business, Cruise Line Locations: Norwegian, Antarctica, South America, Norwegian Star South America, Miami, New York, Boston, Caribbean, @ruinedvacation

☆ Investors in Airbnb arbitrage business allege they were defrauded in scheme promising 'higher returns than the stock market'
▼ + stars: | 2024-02-11 | by ( Rohan Goswami Annie Palmer | Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +18 min

Airbnb told CNBC that business practices such as Agyeman's aren't permitted. Airbnb told CNBC it had no business relationship with Agyeman and had taken action to curtail his operations. Carr and other HFA investors told CNBC their frustrations were dismissed or met with legal threats. To get around Airbnb's rules, HFA instructed its investors to list their own homes, a former employee and two investors told CNBC. Airbnb told CNBC that it was rolling out a more robust verification process in the U.S. and elsewhere beginning as early as 2024.

Persons: Elham Ataeiazar Daryn Carr, Carr, Anthony Agyeman, Agyeman, HFA, they've, Agyeman haven't, Airbnb, Brian Chesky, Brendan McDermid, Reuters Carr, Thomas Hunker, Hunker, Wessel Botes, Megan Shears, Shears, It's, Kathy, she'd, copywriters, couldn't, who'd, Collin Ballard, Collin Ballard Ballard, Ballard, lister, HFA's, Agyeman's Wealthway, Wealthway, David Levine, he's, Levine, Levine didn't Organizations: Federal Trade Commission, Department of Justice, Justice Department, FTC, CNBC, Inc, New York Stock Exchange, Reuters, Agyeman, Investors, Google, HFA, MGM, Dallas, North Locations: hustles, Covid, New York City, New York, Airbnb, HFA, Texas, Instagram, Fort Myers, Sanibel, Las Vegas, Dallas, U.S, Agyeman, Florida, North America, Botes

☆ Hong Kong officials demand answers for Lionel Messi no-show
▼ + stars: | 2024-02-05 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —The Hong Kong government’s repeated requests for Lionel Messi to play in a sell-out soccer match went unanswered Sunday, a city official said, as cheers turned to jeers for the Argentine soccer legend. Meanwhile, the Hong Kong government, which provided more than $2 million in grants to the match organizer, also said it was “extremely disappointed” the star did not play. Fans make their feelings clear after Lionel Messi's Hong Kong no-show. ‘We do feel a bit scammed’“Messi mania” had captured Hong Kong with Inter Miami’s arrival on Friday as fans swarmed the Major League Soccer team’s hotel. Meanwhile, the stadium reached full capacity during the Inter Miami’s open training session the evening before the match.

Persons: Hong Kong government’s, Lionel Messi, jeers, –, Messi, Ballon, Kevin Yeung, XFEST, Lionel Messi's, Justin Chin, Yeung, “, ” Yeung, Gerardo “ Tata ” Martino, ‘, ’ “ Messi, ”, Ada Kam, Luis Suárez Organizations: Hong Kong CNN, Hong Kong, Inter Miami’s, Hong, Hong Kong XI, Culture, Bloomberg, Getty, Inter, Major League Soccer team’s, CNN, Nigeria Locations: Hong Kong, Hong, Argentine, Lionel Messi's Hong Kong, Miami, Inter Miami’s, Tokyo, China, Argentina, Hangzhou, Ivory Coast, Beijing

☆ A company lost $25 million after an employee was tricked by deepfakes of his coworkers on a video call: police
▼ + stars: | 2024-02-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Scammers made off with about $25 million after they used deepfake technology to trick an employee at the Hong Kong branch of a multinational company, local media reported on Sunday, citing the city's police. The employee then had a video call with the company's CFO and other company employees — all of which turned out to be deepfakes. Based on instructions they got during that call, the employee transferred HK$200 million, or $25.6 million, to various Hong Kong bank accounts across 15 transfers, according to the SCMP. AdvertisementThe Hong Kong police did not name the company or employees involved. The employee who was scammed did not interact with the deepfakes during the video conference, according to the media outlet.

Persons: Scammers, scammers, scammed, Taylor Swift, Joseph Morelle Organizations: South China Morning Post, HK, Hong Kong, Democratic Locations: Hong Kong, South China

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