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Our experts choose the best products and services to help make smart decisions with your money (here's how). Fraudulent activity by scammers trying to get your personal information has increased significantly. Check washing, robo calls, and even student loan forgiveness scams can walk scammers right into your bank account. Student loan forgiveness scamHow it works: Under the Biden Administration, student loan forgiveness applications opened in 2022. Be skepticalRight now, money scams are at an all-time high.

Persons: —, scammers, they're, It's Organizations: Service, Biden Administration, Social, Department of Education, US Postal Service

☆ Three years after a pandemic shut down the country, COVID-related phone scams are once again on the rise
▼ + stars: | 2023-06-22 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Three years after COVID-19 swept through the United States, COVID-related phone scams are back on the rise. Hiya, a robocall-blocking app, released a report detailing recent popular COVID-19 phone scams. The COVID-related phone scams include defrauding Medicare and the IRS. "Callers who offer 'free supplies,' 'no-cost' lab tests, or say you need a replacement Medicare card are scammers trying to get your Medicare number," the FTC wrote. According to Hiya, there's been a sharp rise in scammers trying to gain personal information and money by helping people file for ERTCs.

Persons: —, Hiya, it's, there's Organizations: IRS, Service, Federal Trade Commission, FTC, Internal Revenue Service Locations: United States, scammers

☆ 37,800 student-loan borrowers are getting $3.3 million worth of checks in the mail after a debt relief company 'falsely' promised loan forgiveness but instead 'pocketed customers' payments,' a federal
▼ + stars: | 2023-06-20 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The FTC accused Arete Financial Group of scamming student-loan borrowers out of $3.3 million. Specifically, the FTC said the group promised debt relief but instead pocketed consumers' payments. Last week, the Federal Trade Commission announced that it is sending checks totaling over $3.3 million to 37,800 student-loan borrowers who gave money to Arete Financial Group, a debt-relief company. According to the FTC's press release, Arete Financial pretended to be affiliated with the Education Department and "falsely" promised borrowers debt relief, but instead, "pocketed customers' payments and never provided the promised relief." "These lawsuits to shut down student loan debt relief schemes continue the agency's crackdown on junk fees, unwanted calls, and financial exploitation."

Persons: —, Arete, Joe Biden's, Samuel Levine Organizations: FTC, Arete, Service, Federal Trade Commission, Arete Financial, Education Department, Administration, White House and Education Department, Consumer Financial, Bureau, FTC's Bureau, Consumer

It was by a young Chinese pitch invader, eager to meet his hero, the seven-time winner of the Ballon d’Or. Videos that have gone viral on Chinese social media show the young fan leaping from the stands before sprinting toward the Argentine striker – who like him was wearing the number 10 jersey – and giving him a hug. A Chinese fan runs onto the pitch to hug soccer superstar Lionel Messi during a friendly match between Argentina and Australia at the Worker's Stadium in Beijing on June 15. Ng Han Guan/APWith the crowd cheering three security guards then give chase, the first of them falling over as the young fan evades his grasp. On Chinese social media, many users – football fans or otherwise – celebrated the young fan’s sprint across the grass pitch as a liberating moment.

Persons: Lionel Messi –, –, Messi, Lionel Messi, Ng Han Guan, Emiliano Martinez, ”, Thomas Peter, ” “ Messi, I’m, flailing, “ Organizations: Beijing CNN, Australia, Argentine, Workers, Global Times, Messi, Reuters, FIFA, De Football Association, Indonesia Locations: Beijing, Argentina, Australia, China, Jakarta

☆ Senate Democrats pressure PayPal, Venmo, Cash App over fraud protections
▼ + stars: | 2023-06-15 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — Senate Democrats on Thursday urged PayPal and Cash App to better protect users of their peer-to-peer payment applications from fraud. The letters were sent to PayPal president and CEO Dan Shulman and Cash App CEO Brian Grassadonia. PayPal, Venmo and Cash App did not immediately respond to a request for comment from CNBC. Cash App transactions also brought in over $203 billion in inflows among 51 million monthly users as of December 2022, according to a Block annual report. The letter is part of an ongoing inquiry into P2P platform consumer safety spearheaded by Warren over the past several years.

Persons: Sen, Sherrod Brown of, Massachusetts Sen, Elizabeth Warren, Rhode Island Sen, Jack Reed, Jack Reed and New Jersey Sen, Bob Menendez, Dan Shulman, Cash, Brian Grassadonia, PayPal's, Warren, Menendez, Reed Organizations: PayPal, Massachusetts, Block, CNBC, Pew Research Center Locations: WASHINGTON, Sherrod Brown of Ohio, Rhode Island, Jack Reed and New Jersey

“Messi” soon became the top trending topic on Chinese social media platform Weibo, while video footage showed hundreds of fans swarming the team’s hotel entrance in the hope of catching a glimpse of their idol. Argentina’s pre-match training session was delayed for safety reasons Sunday after “outrageously passionate” fans made it impossible for the team to leave their hotel, Global Times reported, citing game organizers. One fan was so eager to meet Messi that he spent 10,000 yuan ($1,400) on rooms at multiple Beijing luxury hotels in the hope of seeing the star, Global TImes said. AFA/Handout/ReutersSeveral unofficial Weibo accounts also claimed to offer VIP stadium passes, front-row seats for the game and autographed Argentina jerseys at inflated prices. Argentina will next travel to Jakarta for a friendly against Indonesia on June 19, though it is unclear if Messi will join the squad for that game.

Persons: Hong Kong CNN — Lionel Messi, scammers, “ Messi, ” Messi, “ Messi ”, Argentina’s, “, Messi, ” Argentina's Lionel Messi, d’Or, Germain Organizations: Hong Kong CNN, Australia, Weibo, Global Times, Workers, Beijing, AFA, Reuters, Messi, Barcelona, Major League Soccer, Inter Miami, Paris Saint, Indonesia Locations: Hong Kong, Argentina, Beijing, China, United States, Jakarta

The Department of Justice indicted former President Donald Trump in the Mar-a-Lago records case. With the indictment, Trump became the first current or former president in American history to face federal criminal charges. Prior to Trump's indictment, federal prosecutors told his attorneys in early June that he was a target of the investigation. In September, he said there would be "problems" like "we've never seen" before in the event of his criminal indictment. Editor's note: Portions of this article were prepared in the weeks preceding Trump's indictment.

Persons: Donald Trump, Trump, —, weren't, Jim, hasn't, I'm, MAGA, Trump's, Mark Meadows, Taylor Budowich, Stormy Daniels, General Merrick Garland, Jack Smith, Garland, he's, Smith, Department's, Biden, Joe Biden, Kimberly Leonard, Fani Willis, Brad Raffensperger, Willis, Jean Carroll, Michael Cohen Organizations: Justice, Service, Justice Department, New York Times, CNN, Times, Department, New, Truth, White, Trump, Manhattan District, FBI, feds, National Archives, Republican, GOP, Washington Post, Capitol, Fulton, Georgia, Trump Organization, New York Attorney Locations: Miami, New York, United States, Manhattan, Mar, Lago, Florida, Iran, Washington , DC, Atlanta, Fulton County

The Department of Justice reportedly indicted former President Donald Trump in the Mar-a-Lago records case. With the indictment, Trump became the first current or former president in American history to face federal criminal charges. Prior to Trump's indictment, federal prosecutors told his attorneys in early June that he was a target of the investigation. Smith's indictment is the second pending criminal case against Trump. In September, he said there would be "problems" like "we've never seen" before in the event of his criminal indictment.

Persons: Donald Trump, Trump, —, weren't, MAGA, Trump's, Mark Meadows, Taylor Budowich, Stormy Daniels, General Merrick Garland, Jack Smith, Garland, he's, Smith, Department's, Biden, Joe Biden, Kimberly Leonard, Fani Willis, Brad Raffensperger, Willis, Jean Carroll, Michael Cohen Organizations: of Justice, Service, Justice Department, New York Times, Times, Department, New, Truth, White, Trump, Manhattan District, FBI, feds, National Archives, Republican, GOP, Washington Post, Capitol, Fulton, Georgia, Trump Organization, New York Attorney Locations: Miami, New York, United States, Manhattan, Mar, Lago, Florida, Iran, Washington , DC, Atlanta, Fulton County

☆ Opinion: Ambitious, tech-savvy and jobless. Why India’s young people could reshape the internet
▼ + stars: | 2023-06-02 | by ( Opinion Snigdha Poonam | ) edition.cnn.com time to read: +10 min

Her book, “Dreamers: How Young Indians Are Changing Their World,” was longlisted in 2019 for the PEN America Literary Awards. Unlike China, which leveraged its demographic dividend through large-scale factory employment, India’s economic growth does not rely on young workers manufacturing goods. Catering to a market of 750 million smartphone users, India’s fast-growing gig economy is attracting young workers in great numbers. As incidents of abuse and exploitation pile up, many of India’s gig workers are questioning their career choice. Feeding the social media monsterThere are other ways in which India’s young people are shaping the future of technology.

Persons: ”, Raju Rai, Rai, “, ” Rai, Dhiraj Singh, Mithun Kumar, Kumar, hyperlocal, Jewel Samad, Mohit Yadav, Monu Manesar Organizations: PEN, CNN, Delhi CNN, Facebook, Catering, Bloomberg, Getty, YouTube, Big Tech, Twitter, New York Times Locations: Delhi, India, Thailand, Indian, Varanasi, Bangkok, Myanmar, Uttar Pradesh, Kerala, Southeast Asia, Europe, China, Mumbai, Bihar, Covid, AFP

☆ AI is being used to 'turbocharge' fraud with voice cloning scams, and regulators 'need to be vigilant early,' FTC chair warns
▼ + stars: | 2023-06-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

The FTC chair warned that AI is being used to "turbocharge" fraud and scams, per Bloomberg. It follows reports of scammers using AI voice-cloning to trick parents into believing their children are in trouble. But Lina Khan added some existing laws should already apply to AI, so regulators "need to be vigilant early." The FTC chair warned that regulators around the world failed to intervene as the internet rapidly expanded in the early 2000s. And to avoid a repeat of this with AI, Khan said that regulators "need to be vigilant early," per Bloomberg.

Persons: Lina Khan, he'd, Sam Altman, Khan Organizations: Bloomberg, Federal Trade Commission, Washington Post, FTC Locations: New York City, Canadian

☆ Scammers are conning Trump supporters out of thousands with 'Trump Bucks' they claim can be exchanged for real cash
▼ + stars: | 2023-05-28 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Trump supporters are reportedly being scammed out of thousands of dollars on items like "Trump Bucks"Some of the supporters were convinced by fake videos of Trump and Elon Musk promoting the products. A new report from NBC News shows some people thought buying the memorabilia would make them rich. Several companies are allegedly using advertising tactics including creating AI-generated videos of Trump and other figures like Elon Musk to claim the worthless "Trump Bucks" will make them rich, according to a new report from NBC News. Some of the people who bought the Trump memorabilia have attempted to exchange it for real US dollars at banks, and told NBC News that bank employees are reporting it as a growing issue. One ad for the "Trump Bucks" — featuring a seemingly AI-generated voice identified as "John" — states "most people believe that the presidential election interfered with the course of history" and identifies Trump as "the great leader."

☆ Trump is weaponizing the Russia report he demanded -- even though it lacks bombshells
▼ + stars: | 2023-05-16 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Another Trump ally, South Carolina Republican Sen. Lindsey Graham, argued the report showed the “rule of law in America is subservient to political outcomes. In another politically sensitive part of his report, Durham found that the FBI did not pursue allegations against Clinton with the same vigor with which they acted against Trump. He pointed out that the Trump investigation was launched at a time when Russia was attacking Democratic National Committee servers and had used stolen information to attack Clinton. The investigation was only launched after the bureau received evidence from a friendly foreign government that the Trump campaign had been offered help by the Russians. But all Trump needed from the report was a headline and a general narrative of suspicion against the FBI.

☆ Special counsel appointed by Trump's attorney general says FBI had no basis for investigating Trump's links to Russia
▼ + stars: | 2023-05-15 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Special Counsel John Durham concluded that the FBI didn't have sufficient evidence to open its investigation into Donald Trump's connections with Russia, according to a report published by the Justice Department on Monday. For nearly four years, Durham — appointed by former President Trump's attorney general Bill Barr — investigated the origins of the FBI's investigation into links between Trump's 2016 campaign and Russia. In his 300-page report, he found that it had no basis for opening the investigation in the first place. The FBI investigation, with the code name Crossfire Hurricane, was opened in July 2016 to examine Russia's attempts to influence the 2016 election. "After extensive research, Special Counsel John Durham concludes the FBI never should have launched the Trump-Russia Probe!"

☆ The agony and ecstasy of scoring last-minute face value Taylor Swift tickets
▼ + stars: | 2023-05-13 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

“My family [last weekend] took the gamble to drive down the 5 hours to Nashville to see if we could get face value tickets,” she said. Another Twitter account called @ErasTourResell, which has 120,000 followers, has gained significant traction working with resellers who want to sell their tickets at face value. The trio of twenty-somethings aim to make Swift tickets as accessible to fans as possible without them overpaying or getting scammed. “So far we’ve posted somewhere between 2,700 and 3,000 tickets, all for face value,” the trio said in a DM conversation on Twitter. “It’s truly so rewarding seeing these tickets go to real fans for face value when the resale market has insane prices with people making three times the profit.

☆ I paid a stranger on Facebook $1,545 for tickets to Taylor Swift's 'Eras Tour.' Here's how I avoided getting scammed.
▼ + stars: | 2023-05-09 | by ( Joni Sweet | ) www.businessinsider.com time to read: +9 min

But like many Swifties, I never got access to Ticketmaster's disastrous presale for the Eras Tour. I posted on a Taylor Swift ticket-selling Facebook groupI turned to Facebook after I didn't hear back from several sellers on Twitter. Joni SweetMy search for Taylor Swift tickets started on Twitter. I had come across @ErasTourResell, an account which connects hopeful concertgoers with people selling their Eras Tour tickets for face value. I searched for terms like "Taylor Swift resell" and "Eras Tour tickets" and joined a few groups that came up.

☆ That simple 'hi' text from a stranger could be the start of a scam that ends up costing you millions
▼ + stars: | 2023-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +14 min

The scammer networks operate fake trading platforms that look "exactly the way they should look," Friedman told CNBC. "When I was looking at who had messaged, I was like, 'I don't know if this person is real,'" Kaimi told CNBC. When pressed, Kaimi told Mike about his financial difficulties, stemming from past credit-card debt. "I thought I was someone who knew when they were being scammed, was able to discern things," Kaimi told CNBC. But when Kaimi told Mike he was planning to withdraw his funds, the penny dropped.

☆ A Wells Fargo customer lost $68,000 after being tricked into making a wire transfer by a scammer, report says
▼ + stars: | 2023-05-01 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

A Wells Fargo customer was tricked into sending a scammer $68,000 of his own money. A Wells Fargo customer lost nearly $70,000 after being tricked by a scammer into making a wire transfer, a report says. The scammer told Beardsley he only had to transfer $68,000 to make up for any trouble caused, leaving him with $2,000. Their son, Tod Beardsley, told ABC7 he was upset that Wells Fargo hadn't queried the unusually large transfer before processing it. A representative for Wells Fargo told ABC7: "We conducted a comprehensive investigation of this case, and shared the findings with our customer.

CNN —A Texas man who was allegedly scammed of $40 in parking fees while on a date shot and killed the man who posed as the lot’s attendant – and then “nonchalantly” walked away to proceed with his dinner plans, court records show. Before the couple walked into a restaurant, they were informed by a restaurant employee that they had been scammed, the affidavit says. Aguirre allegedly shot Nix in the torso, and he died later at the hospital from his wounds, according to court records. The woman on the date later told police she did not see or know about the shooting at that point, the affidavit states. Before being seated at the restaurant, “Erick started to look uncomfortable and suggested they go eat somewhere else,” the woman told police.

☆ AI scam calls: This mom believes fake kidnappers cloned her daughter's voice
▼ + stars: | 2023-04-29 | by ( Faith Karimi | ) edition.cnn.com time to read: +12 min

But her older daughter, 15-year-old Brianna, was away training for a ski race and DeStefano feared it could be a medical emergency. “A scammer could use AI to clone the voice of your loved one,” the agency said in a statement. Law enforcement has not verified whether AI was used in her case, but DeStefano believes scammers cloned her daughter’s voice. It was the voice, matching with the crying.”Jennifer DeStefano, right, with her daughter, Brianna: "A mother knows her child," she said. She’s tried to figure out how the virtual kidnappers got her daughter’s voice, and has considered several scenarios.

☆ Russians trying to help the Kremlin are being scammed into throwing Molotov cocktails at its offices and cars instead: reports
▼ + stars: | 2023-04-28 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

They were told by scammers to chuck Molotov cocktails, but most were unsuccessful, per local media. The people involved have tried to set fire to enlistment offices, bank ATMs, a car trunk, and a police department, though most have been unsuccessful, the outlet reported. Olga told authorities an unknown man had been calling her for a month, saying he was a bank employee. He'd taught Olga how to create the Molotov cocktails and instructed her to start a fire in the government building, according to Shot. We're standing on the street where they stopped me," Olga told the man on the phone.

☆ 13 hot spots for real-estate investors seeking solid rental income returns and cheaper property instead of high prices and taxes, according to an expert who's spent 2 decades investing around the glob
▼ + stars: | 2023-04-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

With the right locations, he believes investors could double their cash investment in the next five years based on property appreciation and rental income. you'll also need to pay taxes on rental income which varies by state. If you plan on generating short or long-term rental income, find a strong rental or property manager. If you're on a budget but want to invest in a good shorter-term rental property for Airbnb, look in high-traffic destinations, he said. Top picks for short-term rental income are internationalized destinations that have easy air access, great amenities, and a lack of hotel competition.

☆ Real-Estate Agents Face a Reckoning As Housing Market, Home Sales Slow
▼ + stars: | 2023-04-19 | by ( James Rodriguez | ) www.businessinsider.com time to read: +14 min

Just as the housing market goes through booms and busts, so do the ranks of real-estate agents. This has left real-estate agents fighting over a dwindling pool of listings. That makes the job of a local real-estate agent trickier and more nuanced than it was a year ago. "What makes a good real-estate agent and what makes a successful real-estate agent have almost no crossover." She joined a women's support group for real-estate agents on Facebook, where she found many others were experiencing similar challenges.

☆ A New York woman lost all her belongings to a moving company scam. She got a $10,000 settlement, but is living with her parents and scraping together 5 part-time jobs to make ends meet.
▼ + stars: | 2023-04-19 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

The 45-year-old lactation consultant won about $10,000 by suing the moving company. There weren't a lot of options available when it came to moving companies, but she eventually found Gold Standard Relocation. Everything seemed normal on Wagner's moving day — until the movers didn't show up and the company wouldn't answer the phone. She'd already paid the moving company about $4,300 to transport and store more than 70 boxes of her things and many furniture pieces for six months. Fraudulent moving companies will often offer customers a low estimate and deposit price, and then demand additional exorbitant fees after taking their belongings hostage.

☆ A mother reportedly got a scam call saying her daughter had been kidnapped and she'd have to pay a ransom. The 'kidnapper' cloned the daughter's voice using AI.
▼ + stars: | 2023-04-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

A scammer reportedly used AI to clone a girl's voice in an attempt to get money from her mother. When she answered it, she could hear her 15-year-old daughter crying and saying things like, "mom, I messed up." DeStefano said that a man's voice then came on the line, telling her daughter to put her head back and lie down. "Listen here, I've got your daughter," the scammer reportedly said, according to DeStefano's account of the call. The voice "100%" belonged to her daughter, she told the local news site.

☆ Elon Musk says he's working on Twitter's customer service — but some Tesla and Starlink customers haven't been impressed when trying to receive support
▼ + stars: | 2023-03-28 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Elon Musk said Twitter users must have good customer service, and that he was working on it. Customers of his other companies have said they're disappointed at the lack of customer service. "Of course, you need to have good customer service for money," Musk tweeted, adding he was "working on it." Some commented on how slow and unresponsive Tesla's customer service was, while others said it was quick and easy. Are you a Starlink user or Tesla owner who is disappointed with the company's customer service?

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