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☆ Man sentenced to life after ‘catfishing’ at least 70 minors and driving a 12-year-old to take her own life
▼ + stars: | 2024-10-26 | by ( Abel Alvarado | ) edition.cnn.com time to read: +2 min

CNN —A man in Northern Ireland has been sentenced to life for several crimes, including manslaughter, after using social media sites to blackmail and sexually abuse at least 70 minors in several countries. Catfishing – often used on social media - is when a person uses false information and images to create a fake identity online with the intention of tricking, harassing, or scamming another person. According to authorities, McCartney pretended to be a young girl, befriended victims on social media and manipulated them into sending him nude images of themselves. “All McCartney’s victims were young, innocent children” as young as 10 years old and “struggling with identity and body image issues and had reached out for help on social media,” Kierans said. CNN affiliate Virgin Media News reported that McCartney mainly used the popular social media app Snapchat to target his victims.

Persons: Alexander McCartney, “, Catfishing, McCartney, McCartney –, New Zealand –, Catherine Kierans, ”, ” Kierans, Snapchat Organizations: CNN, Belfast Crown, Northern Ireland’s Public Prosecution Service, New Zealand, Virgin Media News Locations: Northern Ireland, United States, Northern, Ireland, Great Britain, New

☆ The vulnerable GOP congressman convinced that economic interest voters will save him from the Trump and abortion backlash
▼ + stars: | 2024-10-22 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +19 min

He sat down with BI to talk about the race, the national debt, abortion, and the state of his party. In an era where college-educated voters have been bleeding out of the GOP, Schweikert is increasingly an outlier, and he knows it. In order to keep looking like his district, Schweikert — a one-time conservative rabble-rouser who rode his way into Congress during the 2010 Tea Party wave — has had to make some changes. But now that Schweikert's sharing the ballot with Trump, he's not sweating that either. But while Democrats are hoping the state-level vote will boost turnout on their side and remind voters of Republicans' opposition to abortion, Schweikert sees it differently.

Persons: David Schweikert, —, Republican who's, Donald Trump, Schweikert, Arizona's, Joe Biden, Katie Hobbs, Sen, Mark Kelly, Jevin Hodge, Jon Sutton, It's, I've, who's, he's, Shah, rouser, There's, Schweikert's, Tim Scott of, He's, Bryan Metzger Schweikert, Kari Lake, David Schweikert Decries, Trump, mailer, Sutton, JD Vance, Ohio, Matthew, Tom Williams, that's, Shah eked, Krysten, they're, Shah outraised, Bryan Metzger There's, Roe, Wade, Frederic J . Brown, Kamala Harris, Nikki Haley, Arizona's Haley, Harris Organizations: GOP, Service, Republican, Republicans, Democratic, Caucus, Trump, Capitol, YouTube, Forbes, Social Security, Medicare, Committee, Insurance Trust Fund, Federal, Commission, Electoral, FBI, Federal Aviation Administration Reauthorization, COVID, Mayo Clinic, Getty, United Nations Locations: Arizona, Scottsdale, Congress, America ., Phoenix, an Arizona, It's, Schweikert, Tim Scott of South Carolina, Springfield, America, AFP, Maricopa County, Schweikert's district, North Scottsdale

A young-voter advocacy group backing Vice President Kamala Harris is launching a campaign on TikTok meant to target young voters — but not necessarily those backing former President Donald Trump. The Voters for Tomorrow campaign underscores just how tight the race is between Harris and Trump. “It’s not about winning the White House,” Gates said of the long-shot Stein campaign. “A vote for Stein is really a vote for Trump,” says the voice-over, before playing a clip of Trump praising Stein. In response to the TikTok campaign, Stein campaign manager Jason Call called for a debate between Harris and Stein.

Persons: Kamala Harris, Donald Trump, Jill Stein, Harris, “, Elizabeth Holmes, Anna Delvey, ”, Katy Gates, she’s, ” Gates, Stein, Hillary Clinton, Trump, Clinton, Gen, Santiago Mayer, “ It’s, Mayer, “ We’re, we’re, doesn’t, Jason Call, ” TikTok, TikToker Organizations: Voters, Green Party, NBC, Young Democrats, ”, Tomorrow, NBC News, Trump, White, DNC Locations: Wisconsin, Gates, Pennsylvania , Michigan, Pennsylvania

☆ AI is transforming fraud prevention in digital payments. Here's how.
▼ + stars: | 2024-10-11 | by ( Sponsor Post | ) www.businessinsider.com time to read: +6 min

Visa Protect is an AI-driven suite of solutions that includes real-time risk scoring to help prevent fraud and secure digital transactions. These risk solutions harness the power of artificial intelligence to help safeguard merchants, financial institutions, and consumers at every transaction stage. AI shines in fraud preventionFor over 30 years, Visa has been a leader in using AI to combat fraud. But AI has proven to be a powerful weapon in risk prevention for digital payments and transactions. Learn more about Visa Protect risk solutions.

Persons: James Mirfin, Mirfin, We've Organizations: Visa, Research, Visa Protect, Open Banking, Intelligence, Service, Insider Studios

☆ Deloitte feels the wrath of Trump world over leaked JD Vance messages
▼ + stars: | 2024-10-08 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

CNN —Trump allies are calling for the federal government to punish Deloitte after an employee at the consulting firm apparently shared his private messages with JD Vance. The Post did not reveal who corresponded with Vance, now Trump’s running mate, and leaked those communications. “Maybe it’s time for the GOP to end Deloitte’s taxpayer funded gravy train?” Trump Jr. wrote on X, noting that Deloitte receives billions of dollars in government contracts. Trump Jr. told CNN he was speaking his mind as a private citizen. Neither Trump nor Vance have publicly threatened Deloitte, and it’s worth noting that Trump Jr. has indicated he does not plan to serve in the federal government.

Persons: CNN —, JD Vance, Donald Trump, Trump, Vance, Donald Trump Jr, ” Trump, Jason Miller, Trump Jr, “, ”, Kamala Harris, ” “, GOP Sen, Eric Schmitt, he’s, ” Jeffrey Sonnenfeld, John Deere, Davidson, ” “ Donald Trump, ” Richard Painter, George W, Bush, ” Painter, Painter, MAGA, Jonathan Gandal, Yale’s, ” Norman Eisen, it’s, ” Eisen Organizations: CNN, CNN — Trump, Deloitte, Washington Post, GOP, Trump, Department of Defense, Internal Revenue Service, Department of Homeland Security, Trump Jr, White, Yale, Leadership, Department, Google, Apple, Harley, US Postal Service, Motors, University of Minnesota, ”, ” Trump Jr, Post, Wall Street, ” “ Deloitte, “ Deloitte, Brookings Institution, DOJ

☆ Mech Dara: Concern grows for detained Cambodia journalist awarded by US for exposing online scam centers
▼ + stars: | 2024-10-03 | by ( Helen Regan | ) edition.cnn.com time to read: +5 min

The award-winning reporter is renowned for his investigations exposing corruption, environmental destruction and human trafficking in a country that heavily restricts press freedom. In 2023, Mech Dara won the US State Department’s TIP Hero Award for his work uncovering the multi-billion-dollar illegal scam center industry in Cambodia. Cambodia is ranked 151 out of 180 countries on Reporters Without Borders’ 2024 World Press Freedom Index. As a freelancer, Mech Dara worked for several local and international media outlets including Voice of Democracy, which was forced to close last year. At the time, Mech Dara told CNN: “We fought for the truth.

Persons: Dara, “, LICADHO, Mech Dara, Antony Blinken, Mech, Dara “, ”, Clampdown, Hun Sen, Hun Manet, Cambodia’s, Kate Schuetze Organizations: CNN, Cambodian, Court, Mech, US, Department’s, Embassy, USAID, USAID Cambodia Counter, European Union, US State Department, United Nations, US Institute of Peace, UN, Cambodia Rights, of Democracy, Amnesty International Locations: Cambodian, Phnom Penh, Cambodia, USAID Cambodia, Australia, Southeast Asia, Asia, Myanmar, Laos, Vietnam, ”

Four years earlier, Trump had narrowly carried the Keystone State while losing Latino voters to Hillary Clinton. Biden won Latino voters by 33 points in 2020, while Clinton did so by 38 points. “Today, as of now, I haven’t seen that (from any candidate).”Bethlehem mortgage lender Carmen Dancsecs said she’s worried some Latino voters might stay home come November. Multiple strategies for HarrisThe Harris campaign is pursuing multiple strategies to boost support among Pennsylvania Latino voters in the final weeks ahead of Election Day. Campo helps the Trump campaign canvass Latino neighborhoods, especially in Allentown, speaking with voters about the former president’s platform.

Persons: Pennsylvania CNN — Fresh, Tim Walz, Donald Trump, Marcia Heras, ” Heras, Trump, Kamala Harris, Joe Biden, Hillary Clinton, Harris, Biden, Clinton, Hector Santana, I’m, ” Santana, Carmen Dancsecs, she’s, “, ” Dancsecs, Harris The Harris, ”, Walz, Hurricane Maria, Harrison, ” Walz, “ Hamilton, Anthony Ramos, don’t, Carlos Eduardo Espina, Maria Cardona, it’s, it’s Kamala, ” Trump, – Nicky Jam, Justin Quiles, let’s, ” Anuel, Nicky Jam, Maná, Daniel Campo, Campo, ’ ” Campo, wouldn’t, Trump’s, ” Campo Organizations: Pennsylvania CNN, CNN, Trump, Americans, Pew Research Center, Pennsylvania, Keystone State, NBC News, Telemundo, CNBC, Democratic, Harris The, Puerto Rican, AA, “, Puerto Ricans, Campo Locations: Pennsylvania, Puerto Rican, Minnesota, Ecuador, Allentown, Reading , Pennsylvania, White, Reading, Lancaster, Dominican Republic, “, Bethlehem, Hurricane, San Juan, Johnstown, Puerto, Las, Wilkes, Barre, Venezuelan

☆ Facebook owner Meta forms data-sharing pact with UK banks to counter scams
▼ + stars: | 2024-10-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Facebook parent company Meta on Wednesday said that it's working with two leading banks in the U.K. on an information-sharing arrangement to help protect consumers from fraud. Meta said that the tech has already been tested with multiple lenders in the U.K. "We will only beat these criminals if we work together and share relevant information related to scams. Meta has long faced calls from banks in the U.K. to do more to stop scammers from running rampant on its platforms, which include Facebook, Instagram, and WhatsApp. Meta already has policies in place banning promotion of financial fraud, such as loan scams and schemes promising high rates of returns.

Persons: Meta, scammers, Nathaniel Gleicher, Gleicher, Goldman Sachs Organizations: Facebook, Meta, Intelligence, Exchange, NatWest, Metro Bank . NatWest, Metro Bank, scammers Locations: British

☆ Price-gouging complaints about the cost of fuel, water, and hotels are surging in states hit by Hurricane Helene
▼ + stars: | 2024-10-02 | by ( Joshua Nelken-Zitser | Grace Eliza Goodwin | ) www.businessinsider.com time to read: +6 min

South Carolina and North Carolina saw a rise in complaints, mostly about hotels and fuel. AdvertisementAs Hurricane Helene wreaked havoc across southeastern US states, complaints of price gouging have surged. Related storiesIn neighboring North Carolina, which experienced the highest death toll of about 56, there were also dozens of price-gouging complaints. A spokesperson for the North Carolina Attorney General's Office said the state's Department of Justice had received 64 complaints alleging price gouging in western North Carolina. Kylie Mason, communications director for Attorney General Ashley Moody, told BI they had received complaints "mostly about fuel and water."

Persons: Helene, Price, —, Virginia —, Hurricane Helene, Robert Kittle, Alan Wilson, Kittle, Wilson, Josh Stein, Stein, Kylie Mason, General Ashley Moody, Moody, Jonathan Skrmetti, Shaun Kenney, Jason Miyares, Kenney, Kamala Harris, Harris Organizations: Service, Business, South Carolina, AG, North Carolina Attorney General's, state's Department of Justice, North, Consumer, Division, Tennessee Division, Consumer Affairs, Virginia Locations: South Carolina, North Carolina, South Carolina , Georgia, Florida , Tennessee, Virginia, Hurricane, Carolina, Florida, Tennessee, Georgia

☆ Trump threatened John Deere. It’s just his latest attempt to bully a legendary American company
▼ + stars: | 2024-09-29 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

Trump, more so than any American president in modern history, has directly targeted individual US businesses, threatening them with everything from boycotts and canceled federal contracts to unthinkably high tariffs. Deere, the farm equipment maker founded nearly 200 years ago, became just the latest storied brand to get singled out by Trump. Bigger picture, the attack on Deere fits a broader pattern of Trump bullying companies when it suits him. “John Deere is an outstanding company. “Ultimately, it would lead to fewer sales, less revenue, less growth and fewer employees for John Deere,” said McDaniel, now a senior research fellow at George Mason University’s Mercatus Center.

Persons: New York CNN —, John Deere, they’ve, Donald Trump, Trump, “ Trump, Bill George, “, Nordstrom, Ken Frazier, Donald J, Trump’s, Julian Zelizer, Harry Truman, John F, Kennedy, Teddy Roosevelt, ”, Zelizer, ” Zelizer, ’ Trump, “ I’m, we’ll, ” Trump, George, “ John Deere, ” Christine McDaniel, George W, Bush, Deere, McDaniel, George Mason University’s, Billionaire Mark Cuban, Kamala Harris, Washington, Mary Lovely, ” Lovely Organizations: New, New York CNN, New York CNN — Apple, General Motors, Facebook, Trump, Deere, CNN, White, Apple, San Bernardino, FBI, US Postal Service, Boeing, Air Force, Motors, Merck, Meta, CNBC, Google, Princeton University, Harvard University, Center, Billionaire, Fox News, Street Journal, Peterson Institute for International Economics Locations: New York, Midwest, Mexico, San, Charlottesville , Virginia, United States, Pennsylvania, American, North America, Canada

☆ Operation Match: The dating service that changed our love lives
▼ + stars: | 2024-09-29 | by ( Tacita Quinn | ) edition.cnn.com time to read: +7 min

Although Tarr’s ambition may have been to meet women, the success of Operation Match ironically kept him too busy to date. In fact, while Operation Match was a hugely influential moment in dating history, it wasn’t the first known online dating service. That honor goes to Joan Ball, a woman from the UK who started the St. James Computer Dating Service, later Com-Pat (get it?). Her program made its first match in 1964, a year before Operation Match went online. Operation Match was an inspiration for Dateline in the seventies and eighties, before big business computer dating began in 1995 with the birth of Match.com.

Persons: Jeff Tarr, Vaughan Morrill, Patsy Tarr, Jason Tarr's, Patsy Tarr “, ”, Patsy, Jeff, Tarr, Morrill, scandalously, Joan Ball, James, “, Luke Brunning, Dr Natasha McKeever, “ There’s, ” McKeever, operandi, Douglas Ginsburg, Phillip Harrington, noughties, Ashley Madison, McKeever, Brunning Organizations: CNN, Harvard, Match, James Computer Dating Service, for Love, University of Leeds, IBM, Pew Research Centre Locations: Harvard

☆ Police arrest five people over fake Brad Pitt scam after two women lost $362,000
▼ + stars: | 2024-09-24 | by ( Jack Guy | ) edition.cnn.com time to read: +1 min

CNN —Police in Spain have arrested five people accused of scamming two women out of 325,000 euros ($362,000) by pretending to be Hollywood star Brad Pitt online. One woman lost 175,000 euros ($195,000) to the fraudsters, while another lost 150,000 euros ($167,000). Both victims were contacted via a Brad Pitt fan site by fraudsters who managed to convince them that the actor wanted to invest in various projects with them, police said. Investigators found that, as part of the scam, a network of bank accounts were created using fake identity documents. “Mules” were also used to help to launder money through their own bank accounts in exchange for a small payment.

Persons: Brad Pitt, fraudsters, “, ”, Pitt Organizations: CNN — Police, Hollywood, Guardia Civil, Investigators Locations: Spain

☆ FBI says it has disrupted major Chinese hacking operation that threatened US critical infrastructure
▼ + stars: | 2024-09-18 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +4 min

As of June, the botnet included over 260,000 hacked devices from all over the world, from North and South America to Australia, according to US officials. Those hacked devices ranged from webcams to DVRs to routers, and about half of them were located in the US, according to Wray. That Chinese hacking unit is preparing to “wreak havoc and cause real-world harm” to the US, Wray told Congress in January. Lumen researchers are watching for signs that the Chinese hackers will resurrect the botnet. A Chinese company named Integrity Technology Group managed the botnet for the last three years, according to US officials.

Persons: Christopher Wray, ” Wray, Wray, ”, “, Lumen, ” Danny Adamitis, Dakota Cary Organizations: CNN, FBI, Aspen Cyber, US, Embassy, Lumen Technologies, Lotus Labs, Integrity Technology Group Locations: Washington ,, Australia, Canada, New Zealand, United Kingdom, North, South America, Washington, China, Taiwan, California, United States, Dakota

☆ Who is the real Alice Guo? Fugitive mayor accused of spying for China faces legal reckoning after weeks on the run
▼ + stars: | 2024-09-04 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +10 min

The official inquiry into Alice Guo, disgraced former mayor of a small town not far from the capital Manila, has been compulsive viewing for Filipinos since it began in May. But who exactly is Alice Guo? The Bureau of Immigration (BI) says Indonesian authorities have informed them that former Mayor Alice Guo has been arrested in the country on September 4, 2024. Guo shows her chicken farm in Bamban, Tarlac province, in the Philippines in a YouTube video posted on April 20, 2022. The real concern about Guo arose from her alleged ties with business associates from China currently in prison.

Persons: Alice Guo, Guo, “, Ferdinand Marcos Jr, lawbreakers, ”, Alice L, David Buenaventura, Ditjen, she’s, Alice Leal Guo, scammers, Senator Risa Hontiveros, Marcos Jr, ” Marcos, Guo Hua Ping, hasn’t, Zhang Ruijin, Lin Baoying, Zhang, Lin, AMLC, Shiela, Cassandra Li Ong Organizations: CNN, absconding, Ang Law, Immigration, Philippine Bureau, YouTube, Philippine Offshore Gaming, Philippine News Agency, Philippine senate, Facebook, National Bureau of Investigation, Money, Yuan Technology Inc, Hongshen Gaming Technology Inc, QJJ, Inc Locations: Philippines, Manila, China, South China, Southeast Asia, Indonesia, Bamban, Tarlac province, Malaysia, Vietnam, Philippine, what’s, POGOs, Beijing, Singapore

☆ Scam victims on Zelle rarely get their money back. A new bill could fix that
▼ + stars: | 2024-08-02 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

Bank transfer or payment fraud losses spiked by nearly 150% over that span to $1.9 billion. The big banks that run Zelle in particular “rarely” reimburse customers duped by scammers, according to a recent Senate investigation. So Democrats in Congress are introducing new legislation that would seek to crack down on payment scams by closing loopholes in existing law. For instance, Zelle says that while customers hurt by unauthorized activity are “typically” able to get their money back, victims of scams may not. Under pressure from lawmakers, last year banks on Zelle began refunding some victims of imposter scams.

Persons: scammers, Maxine Waters, Sens, Richard Blumenthal, Elizabeth Warren, ” Blumenthal, “ Zelle, Zelle, Wells, ” Zelle, ” Ariana Duval, Duval, “, ” Duval, Cameron Fowler, EWS, ” Fowler, Fowler, he’s “, ” Organizations: New, New York CNN, Consumers, Bank, Republican, Rep, Senate, CNN, Homeland Security, Governmental Affairs, Investigations, Blumenthal, JPMorgan, Bank of America, North Carolina Agricultural, Technical State University, PayPal, Warning, Connecticut Democrat Locations: New York, Wells Fargo, Zelle, Connecticut

☆ Philippines bans gambling operations catered to illicit Chinese players
▼ + stars: | 2024-07-23 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +4 min

CNN —The Philippines has announced plans to ban offshore gaming operators, targeting an industry that mostly caters to Chinese gamblers and has sparked growing alarm from law enforcement over its alleged connections to organized crime. Known locally as POGOs, Philippine Offshore Gaming Operators have spawned across the country, both licensed and illicit, employing tens of thousands of Chinese and foreign nationals. Ezra Acayan/Getty ImagesThere are 46 licensed offshore gaming operators and dozens more illicit gambling hubs in the Philippines, according to the country’s gaming regulator, which Marcos has ordered to close by the end of the year. Since then, the Philippines has become a major hub for online gaming catering to tens of thousands of players based in China. “Even if overseas casinos are legally opened, cross-border gambling by Chinese citizens is suspected of violating the laws of our country,” the embassy said in a statement.

Persons: Ferdinand Marcos Jr, ” Marcos, Marcos, Ezra Acayan, Marcos ’, Rodrigo Duterte Organizations: CNN, Philippine Offshore Gaming, Macao –, Philippine News Agency Locations: Philippines, Philippine, Manila, Beijing, South China, China, Macao, Southeast Asia, United States, China’s, Singapore

☆ Card skimmers are hard to spot and on the rise. Here's what you can do to protect yourself.
▼ + stars: | 2024-07-07 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Read previewCredit card skimmers are on the rise nationwide and they're targeting the country's most financially vulnerable people. The FBI estimates that card skimming costs consumers and banks around $1 billion each year. Last year, Fair, Isaac and Company, a financial data analytics firm, found that debit card skimming grew by a whopping 96% compared to the previous year. Related storiesAuthorities nationwide say reports of card skimming and EBT fraud have increased over the past year. The New York Office of Temporary and Disability Assistance issued an EBT scam alert on July 2, warning of increases in card skimming and phishing.

Persons: —, Isaac, WJXT Organizations: Service, FBI, Isaac and Company, Business, Secret Service, Police, Washington State Department of Social and Health Services, Seattle Times, Authorities, New York Office, Assistance, NY Locations: Florida, Virginia , New York

☆ The voice scam call portrayed in 'Thelma' is real and an increasing threat in the age of AI
▼ + stars: | 2024-07-05 | by ( Genna Contino | ) www.cnbc.com time to read: +3 min

Courtesy: Magnolia PicturesScammers exploit 'fear and urgency'Scams like the one Thelma fell victim to are increasingly common, experts say. Typically, AI voice scams mimic distress calls. The common denominator is that it's coming from someone you care about who needs money "fast." A 2023 survey from McAfee found that 25% of adults have experienced a similar AI voice scam — and the company says 77% of victims have lost money as a result. But older adults aren't the only ones at risk; younger people who spend more time online are increasingly vulnerable, CFP Andrew Sivertsen said.

Persons: THELMA, Thelma, Carolyn McClanahan, McAfee, McClanahan, CFP Andrew Sivertsen, millennials, Margolin Organizations: Magnolia Pictures, McAfee, Partners, CNBC's, CFP, Planning Locations: Jacksonville , Florida, United States, Moline , Illinois

☆ ‘Pig butchering’ crypto scam: Americans taking their lives after losing savings to international criminal gangs
▼ + stars: | 2024-06-17 | by ( Teele Rebane | Ivan Watson | ) edition.cnn.com time to read: +17 min

In early March, Dennis’ children scheduled a meeting to help their father get back on his feet after the scam. Matt and Adrienne lost their father Dennis to suicide in March after he fell victim to a cryptocurrency investment scam. Hard to believe I’m falling for a man I have never seen or spoken to,” Carina told him just a few weeks in. Carina, scam victimCarina didn’t tell her family about what had happened and the stress she was under until the very final moment. After months of hiding it, Carina told her family, who suggested she speak to Kraken directly.

Persons: Matt, “, Adrienne’s, Dennis Jones, Jessie, ”, Dennis, Dennis ’, Adrienne, ” Matt, Chris Turner, Amanda Swinhart, they’ve, Erin West, “ I’ve, I’ve, Erin, “ We’ve, Shawn Bradstreet, Jim Castel, Bradstreet, Bumble, GASO, that’s, Tom Booth Rakesh, Rakesh, “ Klara Semonov, Tawee Sodsong, Tom Booth Pachara, Jeff Rosen, ’ Carina, “ Evan ”, Carina, WhatsApp, ” Carina, Evan Van ”, CNN Evan, Evan, consoling, Jim Castel ‘, ” Dennis messaged, ” Adrienne, Carina didn’t, “ It’s, ” Dennis ’ Organizations: Lifeline, International Association for Suicide Prevention, Befrienders Worldwide, CNN, Facebook, FBI, San, LinkedIn, Meta, Indian, Thai National Broadcasting, Befrienders Locations: Virginia, Southeast Asia, scammers, Santa Clara, California’s Bay, San Francisco, Myanmar, Cambodia, Laos, Thailand, Thai, ”, Russian, Salt Lake City, scamming

☆ Warren Buffett says one question posed by AI has stumped economists for a century
▼ + stars: | 2024-05-07 | by ( Michelle Castillo | ) www.cnbc.com time to read: +8 min

Calling AI profound, Buffet said that the technology is like a "genie" — once it gets let out of the bottle, it could have disastrous effects. It's a question, he said, that has riddled the best economists for a century. Warren Buffett is the first to admit he doesn't know much about artificial intelligence. This rebound has led to questions from corporate executives about factors that could be at play, from AI to return-to-office mandates. "Every company is looking at AI and deciding where it will help them," he said during a recent interview on CNBC's "Money Movers."

Persons: Buffett, Buffet, Warren Buffett, it's, couldn't, John Maynard Keynes, Keynes, Gary Cohn, Cohn, Dev Ittycheria, Elon Musk, Mark Zuckerberg, Sam Altman, Robert Solow, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Berkshire, IBM, National Economic, CNBC, Nvidia, McKinsey, Harvard Business Locations: Omaha, Berkshire

☆ Americans have spent their savings. Economists worry about what comes next
▼ + stars: | 2024-05-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But now that extra spending money is gone, economists are concerned about what comes next. That means many Americans have more debt than savings and suggests “that American households fully spent their pandemic-era savings as of March 2024,” they wrote in a recent report. Consumer spending plays a crucial role in driving economic growth in the United States, and it has shown remarkable strength over the past two years. “A continuing strong labor market could help consumers maintain spending patterns similar to those observed recently, even without pandemic-era savings,” they wrote. What comes next: Disney, Airbnb, Uber, Anheuser-Busch, Tapestry and Dillards all report later this week — investors will look for any comments about how consumer spending, or lack thereof, is altering revenue forecasts for 2024.

Persons: Hamza Abdelrahman, Luiz Edgard Oliveira, ”, Austan Goolsbee, ’ ”, Fitch, Sarah Wyeth, Chris Kempczinski, Abdelrahman, Airbnb, Warren Buffett, Berkshire Hathaway, Greg Abel, Buffett, “, Abel, isn’t, Boeing “, Scott Stocker, Read Organizations: CNN Business, Bell, New York CNN, San Francisco Federal Reserve, Chicago Federal, Society for, ”, Shoppers, Tyson Foods, “, Disney, Anheuser, Busch, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, FAA, Boeing, Federal Aviation Administration, CNN Locations: New York, United States, Omaha , Nebraska, Omaha, scamming

☆ Warren Buffett: AI has 'enormous potential for good and enormous potential for harm'
▼ + stars: | 2024-05-06 | by ( Ryan Ermey | ) www.cnbc.com time to read: 1 min

You're unlikely to see Berkshire Hathaway chairman Warren Buffett adding artificial intelligence stocks to his vast portfolio anytime soon. One of AI's applications that stuck out to the legendary investor: its potential utility for fraudsters. "When you think about the potential for scamming people ... if I was interested in investing in scamming, it's gonna be the growth industry of all time and it's enabled, in a way," Buffett said. Buffett would go on to compare the invention of AI to the development of the atomic bomb. Here's what he said.

Persons: Berkshire Hathaway, Warren Buffett, Buffett, it's Organizations: Berkshire Locations: scamming

☆ How a romance scammer defrauded 3 Tinder dates out of over $100,000
▼ + stars: | 2024-05-06 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

AdvertisementThe victims of a romance scammer who defrauded women he met on Tinder out of over $100,000 have spoken out about being targeted. Peter Gray, 35, from Yorkshire, UK, found his victims on Tinder and won their trust, BBC News reported. Romance scams have boomed since the onset of the pandemic, with Americans losing over $1.3 billion to the practice in 2022, up 164% from 2019, Business Insider previously reported. In the UK, over £92 million (about $115 million) was lost to romance scams in the same year, according to data from the National Fraud Intelligence Bureau. AdvertisementGray used information from driving licenses to scam Tinder dates"It was shocking," a sister of one of Gray's victims told BBC News.

Persons: Peter Gray, —, Gray, Jessica, Hannah, Elizabeth, Tinder Organizations: Service, BBC News, Business, Federal Trade Commission, National Fraud Intelligence, BBC Locations: Yorkshire

☆ Warren Buffett compares AI to nuclear weapons in stark warning
▼ + stars: | 2024-05-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

At his annual shareholder meeting in Omaha, Nebraska, the 93 year-old co-founder, chairman and CEO of Berkshire Hathaway issued a stark warning about the potential dangers of the technology. “We let a genie out of the bottle when we developed nuclear weapons,” he said Saturday. JPMorgan Chase, the world’s largest bank by market capitalization, is also exploring the potential of generative AI within its own ecosystem, Dimon said. Dozens of AI industry leaders, academics and even some celebrities have signed a statement warning of an “extinction” risk from AI. “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war,” the statement said.

Persons: New York CNN — Warren Buffett, Berkshire Hathaway, ”, Greg Abel, Buffett, “, Abel, isn’t, Buffett Buffett, JPMorgan Chase, Jamie Dimon, Dimon, Jeffrey Sonnenfeld, Sonnenfeld, Doug McMillion, James Quincy, Sam Altman, Geoffrey Hinton Organizations: New, New York CNN, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, scamming, JPMorgan, JPMorgan Chase, Software, Yale, Summit, CNN, Walmart, Xerox, Google Locations: New York, Omaha , Nebraska, Omaha, scamming

☆ Warren Buffett rings the alarm on AI, comparing it to the atomic bomb and warning it will supercharge fraud
▼ + stars: | 2024-05-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Warren Buffett issued a grave warning about artificial intelligence. The Berkshire Hathaway CEO predicted it would supercharge fraud by making scams far more convincing. The investor likened AI to the atom bomb, saying the world has let the "genie out of the bottle." AdvertisementWarren Buffett has raised the alarm on AI, warning it threatens to supercharge fraud by making scams more convincing than ever. Buffett also likened the advent of AI to the creation of the atom bomb, echoing comments he made at last year's Berkshire meeting.

Persons: Warren Buffett, Berkshire Hathaway, —, Scamming, Buffett, we'd Organizations: Berkshire, Service Locations: Berkshire

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