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In 2023, about 4,600 adults age 60 and older reported being defrauded of a six-figure sum, according to a report the FTC issued in October. Such thefts can be especially devastating to older adults, who have less opportunity to earn back what they've lost, greatly impacting their quality of life in old age, experts said. Common scams targeting older AmericansConsumers overall lost $10 billion to scams in 2023, a record high, according to the FTC. Older adults were 60% more likely than younger ones to report losses exceeding $100,000 last year, according to the FTC. Criminals commonly stole such vast sums from older adults via romance scams, investment frauds and imposter scams, the FTC said.
Persons: Karl, Josef Hildenbrand, That's, they've, John Breyault, Breyault, Crypto Organizations: Getty, Federal Trade Commission, National Consumers League, FTC, Finance, A.I, underreporting, Gallup, Microsoft, Publishers Clearing, Social Security Administration, Federal Bureau of Investigation, FBI
Oasis fans hit with a ‘landslide’ of ticket scams
  + stars: | 2024-11-05 | by ( Anna Cooban | ) edition.cnn.com   time to read: +2 min
London CNN —Hundreds of Oasis fans are looking back in anger after falling victim to a “landslide” of ticket selling scams. The bank said Oasis fans made up around 70% of all reported ticket fraud between August 27 and September 25. Fans scrambling for tickets have fumed about eye-watering prices and long waits online. Lloyds said its customers buying Oasis tickets on a major UK ticket selling site splashed out more compared with any other music concert over the past three years, parting with an average of £563 ($731) per debit card transaction during the first day of ticket sales in August. That’s higher than the average £342 ($444) spent on tickets for Taylor Swift’s UK tour last year, it noted.
Persons: , Liz Ziegler, you’re, Noel, Liam Gallagher —, SJM, Taylor Organizations: London CNN, Oasis, Lloyds Banking Group, Lloyds, Facebook, Meta, , CNN, Taylor Swift’s Locations: United Kingdom, Ireland, United States, Canada, Mexico, Australia
It was an AI recruiter. And LinkedIn wants to fix the disconnect, in part by fighting AI … with AI. AdvertisementEarlier this year, the company rolled out new AI tools to premium subscribers. ZipRecruiter also rolled out revamped AI tools to help job seekers find better matches this summer. AdvertisementCanseco has not yet tried LinkedIn's AI tools because she isn't a premium user, but she could get access to them soon.
Persons: Paloma Canseco, She's, Robin, Canseco, Robin wasn't, I'm, Rohan Rajiv, Rajiv, Monster, résumés, Hayley Finegan, Finegan, who's, Josh Bersin, they're, Julia Pollak, ZipRecruiter's, ZipRecruiter, Millie Black, she's, Black Organizations: LinkedIn, US Bureau of Labor Statistics, Human Resource Management
London CNN —Scammers have stolen more than 24 tons of artisanal cheese from one of Britain’s most famous dairy companies. Celebrity chef Jamie Oliver has appealed to his social media followers to look out for the stolen goods. The post continued: “Over 950 wheels of Hafod, Westcombe, and Pitchfork Cheddar were delivered before the fraud was discovered. Oliver said in a video posted on Instagram: “You’re going to think I’m joking but I’m not - there’s been a great cheese robbery. “Some of the best cheddar cheese in the world has been stolen,” he added.
Persons: London CNN —, , Jamie Oliver, Ken McKay, , Oliver, , there’s, ” Oliver, Tom Calver, Calver, Trethowan Organizations: London CNN, ITV, Pitchfork, Metropolitan Police, CNN Locations: London, Cheddar, French, Westcombe, France
Verify voter registration info with official state sources to avoid falling for them. The three most common scams around elections are voter registration scams, fake surveys and polls, and political donation scams, experts say. Fake surveys and polls that prey on people's heightened emotions during election seasons are also common, NASS says. Another common sign that a voter registration message could be a scam is if the messenger says you must pay to complete your voter registration. To register to vote, or to find out if your Social Security Number is required for voter registration in your state, the FTC says to contact your local election office or check the US Election Assistance Commission's National Voter Registration Form.
Persons: , NASS Organizations: Service, National Association of, State, Federal Trade Commission, FTC
Insider Today: Young men's new obsession
  + stars: | 2024-10-26 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +7 min
This week's dispatchThe New York Liberty celebrated their WNBA championship with a victory parade. In June, it was reported that the New York Liberty had the third-highest value in the league ($130 million), and brought in the most revenue last year ($18 million). Wu Tsai made a series of key investments that have paid off. AdvertisementAfter building out a state-of-the-art locker room, Wu Tsai focused on filling out an all-star bench. AdvertisementMore of this week's top reads:The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York City.
Persons: , Sarah Stier, it's, they've, Clara Wu Tsai, Joseph Tsai, Wu Tsai, Breanna Stewart, Gris Osses, Edmon De Haro, Elvis Presley's Graceland, Chelsea Jia Feng, Leila Najafi, she's, They're, Valentin Tkach, Josh Hartnett, Tyler Perry's, Bruce Springsteen, Rebecca Zisser, Taylor, she'll, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Amanda Yen, Grace Lett Organizations: Business, Service, New York Liberty, New York, Financial, Minnesota Lynx, WNBA, Liberty, Barclays Center, BI, Warner Bros, Netflix Locations: York, Brooklyn, honeymoons, Canada, New York City, New York, Chicago
Strengthen Your Defenses Against Financial Fraud
  + stars: | 2024-10-24 | by ( Eamon Javers | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrengthen Your Defenses Against Financial FraudSpam. Delete and Report Junk. Today scammers are constantly targeting us in new ways, and it can be difficult to stay vigilant. Identity Theft Resource Center President & CEO Eva Velasquez talks about identifying scams and how to best protect yourself from financial fraud.
Persons: scammers, Eva Velasquez Organizations: Theft Resource
[As in] ‘You’re not paying your bills!” said Steven Rubin, a certified elder law attorney and partner at Drazen Rubin. Why having a customized power of attorney is beneficialIt’s easy enough to download a standard power of attorney form from the internet. But that doesn’t mean the elderly person, if cognitively able, can’t also maintain control over their finances. Other ways to help a loved one avoid financial pitfallsHaving powers of attorney is the most comprehensive way for you to address potential problems with your loved one’s financial behaviors or spot if they’re being scammed. If scammers have been calling frequently, you might consider changing your loved one’s phone number, if you have powers of attorney, Rubin said.
Persons: , Judith Flynn, , doesn’t, Jonathan Canick, ” Canick, ‘ You’re, Steven Rubin, Drazen Rubin, Rubin, you’ve, Flynn, that’s, cognitively, can’t, “ It’s, ” Flynn, It’s, parent’s “, won’t Organizations: CNN, Research, Falco & Associates, National Academy of Elder, Consumer Financial, Bureau, Facebook, National Institute, Aging
The owner of a $137.5 million LA mansion says they're a victim of deed fraud and can't sell it. AdvertisementSpelling Manor's owner told the Journal through their lawyer that scammers filed a fraudulent deed with Los Angeles County earlier this year. The FBI's Internet Crime Complaint Center doesn't specifically track deed fraud. Gordon eventually got his property back after the title company signed a quitclaim deed that relinquished ownership, giving him his land back. Kiar said that in September, someone contacted a title company saying they had a vacant lot to sell in Hallandale Beach.
Persons: they're, , Aaron Spelling, It's, Eric Schmidt —, scammers, Paul Harris, Tyler Adams, it's, Fraudsters, Victor Petrescu, LKLSG, Adams, Spelling, Elvis Presley, Elvis Presley's, Riley Keough, Jerod Harris, Lisa Jeanine Findley, Graceland, Findley, Scammers, William Gordon's, Gordon, Gabriella Cázares, Kelly, Petrescu, Daniel Kenigsberg, Marty Kiar, Kiar, hadn't, fraudsters Organizations: Service, Google, Wall Street Journal, Association, Spelling, BI, Mapleton, LA, Graceland, GAB, Getty, Naussany, NBC Miami Locations: Los Angeles, Beverly, Mapleton, Saudi, Angeles, Spelling, LA, Miami, Memphis , Tennessee, Missouri, Arizona, Pima County, Texas, , Fairfield , Connecticut, Johannesburg, Broward County , Florida, Hallandale Beach
Meta is ramping up its efforts to fight sextortion on Instagram with the launch of new features that are designed to help prevent young users from getting blackmailed into sharing nude photos. Starting Thursday, Instagram will automatically block follow requests sent to teenage users from accounts that display certain “scammy behaviors,” according to Meta. At a Senate online child safety hearing in January, Meta CEO Mark Zuckerberg apologized to parents who said Instagram contributed to their children’s suicides or exploitation. Last month, Meta announced it will begin automatically placing all users under 18 into “teen accounts” with stricter privacy settings. “If they really want to promote meaningful change and online safety for kids and teens, they can stop opposing federal solutions like the Kids Online Safety Act,” Hinkle said.
Persons: sextortion, Instagram, Antigone Davis, Meta’s, , we’ve, , Mark Zuckerberg, Haley Hinkle, , ” Hinkle, they’re, Davis, Hinkle Organizations: Meta, FBI, NBC News, Kids, Senate Locations: Fairplay, United States, Canada, United Kingdom, Australia
Hong Kong CNN —She appeared to be a beautiful woman and in the minds of men across Asia, the video calls they spoke on confirmed their newfound love was real. But Hong Kong police say the men had fallen prey to a romance scam that used deepfake artificial intelligence to lure its victims into parting with more than $46 million. In a news conference Monday, police in the Asian financial hub announced the arrests of more than two dozen members of the alleged scam ring, which they say targeted men from Taiwan to Singapore and as far away as India. But increasingly realistic deepfake technology has raised the stakes and put authorities on high alert. According to Hong Kong police, the romance gang’s deepfake scam typically began with a text message, in which the sender – posing as an attractive woman – said they had mistakenly added the wrong number.
Persons: Hong Kong CNN —, , , scammers, Organizations: Hong Kong CNN, Hong, Police, Facebook Locations: Hong Kong, Asia, Taiwan, Singapore, India, Southeast Asia, British
Individuals looking to help storm victims can also be tricked into donating to fake charities, FEMA says. CNN’s Impact Your World team has ways viewers and readers can help Hurricane Milton victims through vetted charities here. Noting that many areas in the county have “incurred severe property damage because of back-to-back impacts from Hurricane Helene and Hurricane Milton,” Pinellas County’s Office of Consumer Protection urged residents in a public advisory Thursday to be cautious when hiring someone to make storm-related repairs. John Falchetto/AFP/Getty ImagesSeniors are more susceptibleIn the aftermath of Hurricane Milton, Florida authorities are also fighting to stop insurance scams targeting storm victims, often the elderly, says Patronis, the state’s chief financial officer. Florida is home to over 6.3 million seniors – anyone 60 and older, according to the Florida Department of Elder Affairs.
Persons: Hurricane Milton, Ron DeSantis, , Jimmy Patronis, Melanie McGovern, McGovern, they’re, I’m, ’ ” McGovern, Helene, Milton, , it’s, ” McGovern, heartstrings, GoFundMe, they’ve, DCNOnline.org, John Falchetto, Fraudsters, ” Patronis Organizations: CNN, Gov, Better, FEMA, Consumer Protection, National Center for Disaster, ” Pinellas County’s Office, , Lakes Country, Getty, Florida Department of Elder Affairs, Lakes Country Club Village, State Locations: Hurricane, Florida, Pinellas County, Siesta Key, ” Pinellas, Pinellas, Fort Pierce , Florida, AFP, Hurricane Milton, United States, Fort Pierce
krisanapong detraphiphat | Moment | Getty ImagesInvestors are at a heightened risk of cryptocurrency scams tied to fake relationships established over social media, dating apps and networking sites, federal officials warn. Last month, the SEC brought its first-ever enforcement actions tied to crypto relationship frauds. Crypto scam losses 'can be huge'Crypto, examples of which includes bitcoin and ethereum, is a digital currency. watch nowThere are "many variations" of crypto investment fraud, but the most prominent last year was the relationship scam, the FBI said. Jules, a victim of a crypto relationship scam, detailed her experience with the crime on a new FINRA podcast.
Persons: krisanapong, Fraudsters, Grewal, CoinW6, Kim Casci, Palangio, Micah Hauptman, Hauptman, Jules, , Crispin La Valiente Organizations: Finance, FBI, Securities, Exchange Commission's, SEC, LinkedIn, Federal Bureau of Investigation, Consumers, Support, Financial Industry Regulatory Authority, Consumer Federation of America Locations: Seattle
With AI reshaping daily operations of a real estate agent's business by automating tasks — from generating property listings to conducting neighborhood analyses — the agent's focus in day-to-day activities will shift. Serhant says AI won't virtualize relationships, but for the real estate agents who embrace the AI revolution — which he says is a necessary move to make — it will strengthen their relationships. The real estate industry is still in the initial stages of adopting AI and understanding remains low among real estate professionals, but the interest is there. But the survey also finds that real estate professionals have very low understanding of AI compared to other technologies. The FBI reported a big year-over-year increase in wire fraud cybercrime losses in 2023, driven significantly by real estate transactions.
Persons: Ryan Serhant, Serhant Organizations: CNBC, JLL Technologies, Estate Technology Survey, FBI Locations: Manhattan, New York City
A New Zealand teenager sent thousands of scam texts using a fake cellphone tower before he was caught. It uses a so-called SMS Blaster to trick cellphones. The FBI and FTC have warned of rising smishing scams in the US. The Federal Trade Commission says that most "smishing" scams in the United States also involve people posing as banks. In 2022, the bureau warned that large-scale smishing campaigns delivered "hundreds, thousands, or even hundreds of thousands" of text messages in a matter of hours mimicking the IRS.
Persons: , Smishing Organizations: FBI, FTC, Service, Police, New Zealand police, Federal Trade Commission Locations: Zealand, New Zealand, United States
Meta is partnering with banks to identify scam accounts. Meta says the collaboration led to the removal of 20,000 scam accounts in the UK alone. So Meta launched a new program that allows banks to "share intelligence" directly with the social media conglomerate to more efficiently combat scams. Meta said in a statement that, based on data shared by the two banks, it has already removed 20,000 accounts it believes were run by scammers. In just the first six months, the program blocked 8,000 different pages and 9,000 celebrity scams, Meta told the outlet.
Persons: Meta, , David Lindberg, Andrew Forrest Organizations: Meta, Service, Facebook, Intelligence, Wednesday, NatWest, Metro Bank, scammers, Guardian, Retail Banking, Australian Competition, Consumer Commission, Business Locations: Australia, cryptocurrency
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
I liked the idea of doing the same thing, but without the criminal intent: finding those problems and fixing them. This flashy example was made for entertainment, but it still showcased how real criminals use fake profiles, phishing websites, and malware to compromise a person or company. New scams are being developed every dayI see multiple new scams or cyber security problems every day. It's creating better-looking scams, while deepfakes, voice clones, and video filters make it easier to fool people into believing things on the internet. AdvertisementWe're seeing romance scams where scammers are using deepfake video filter tools to pretend to be celebrities, for instance.
Persons: , Laura Kankaala, I've, cybercriminals Organizations: Service, Business, LinkedIn Locations: Finnish, Finland
No, it's not really Apple or Microsoft popping up on your screen to tell you your computer has been infected. "Because, who doesn't know Microsoft or Apple as a brand?" Here's what people should know to protect themselves from scams targeting commonly used, trusted tech brands:Never assume any online ad is authenticPeople can be duped in a number of ways. Sometimes simply opening the attachment could infect a consumer's computer with malware. If, for instance, you called a number for "Microsoft" or "Apple" and gave usernames and passwords, change those.
Persons: it's, It's scammers, Cliff Steinhauer, Nati Tal, Bing, Malwarebytes, Jérôme Segura, Segura, Jim Routh, It's, Routh Organizations: National Cybersecurity Alliance, Microsoft, Apple, Guardio Labs, McAfee, PayPal, Norton
Federal and state police across the country warned about a rise in the number of email "sextortion" scams this month. The Maryland State Police said in a statement on Thursday that reports of one sextortion scam targeting Gmail users surged in August and September. In these scams, someone tells a victim they have access to embarrassing search history or compromising photos. This means the scammers may have access to your email and even some of your current or former passwords, but they do not have access to your computer or search history. The Maryland State Police say to be cautious of any "unsolicited" emails you receive to your Gmail account to avoid being the victim of a scam.
Persons: , bitcoin, They're, they've Organizations: Service, Maryland State Police, Business, FTC, Google Locations: Federal, Maryland
London CNN —“Millions” of people could fall victim to scams using artificial intelligence to clone their voices, a UK bank has warned. Starling Bank, an online-only lender, said fraudsters are capable of using AI to replicate a person’s voice from just three seconds of audio found in, for example, a video the person has posted online. These types of scams have the potential to “catch millions out,” Starling Bank said in a press release Wednesday. “People regularly post content online which has recordings of their voice, without ever imagining it’s making them more vulnerable to fraudsters,” Lisa Grahame, chief information security officer at Starling Bank, said in the press release. As AI becomes increasingly adept at mimicking human voices, concerns are mounting about its potential to harm people by, for example, helping criminals access their bank accounts, and spread misinformation.
Persons: London CNN —, Scammers, ” Lisa Grahame, OpenAI Organizations: London CNN, Starling Bank, , Bank, Research Locations: Starling
Read previewGen Zers may think they are digitally savvy and immune to online scams, but that very thought may leave them vulnerable to being lured into nefarious schemes. AdvertisementScams are always evolving, and the tricks Gen Zers believe they are wise to may be replaced by increasingly technologically advanced schemes they don't see coming. AdvertisementPeople are still processing the years lost to the pandemic, particularly Gen Zers, whose brains were still developing, Neo added. "This can make us more impulsive, less thoughtful of our choices, and can be a risk factor for romance scams," Neo said. Gen Zers understand what it's like to struggle, with many facing economic instability and having difficulty with bills, rent, and finding jobs.
Persons: , Zers, Bryn Thompson, Gen Xers, Lauren Hendry Parsons, Hendry Parsons, Kevin Lee, Gen Z, Lee, scammers, It's, it's, zoomers, They're, Gen Organizations: Service, Business, National Cybersecurity Alliance Locations: Canada
Americans lost $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022. The FBI's 2023 cryptocurrency fraud report highlights the rise in crypto investment scams. People over 60 reported the highest losses, with $1.6 billion lost to crypto fraud last year. AdvertisementAmericans are losing more money than ever to cryptocurrency scams, according to the FBI. The FBI's 2023 cryptocurrency fraud report, released earlier this week, found that Americans lost $5.6 billion to crypto scammers last year.
Persons: , Christopher Wray Organizations: Service, FBI, Business
Americans reported losing $5.6 billion to cryptocurrency scams in 2023, with older Americans hit the hardest, according to the FBI. Americans 60 years old and older filed more than 16,000 complaints of cryptocurrency fraud and reported losing over $1.6 billion, much more than any other age group. The reported scams ranged from phony tech support help and extortion to scammers impersonating government officials. The vast majority of reported losses — almost $4 billion — were a result of investment scams, a category that the FBI uses primarily to refer to so-called pig butchering scams. Last year, a United Nations report found that pig butchering scams are often run by human trafficking victims in Southeast Asia.
Persons: , , Amy Nofziger, Nofziger Organizations: FBI, NBC News, AARP, United Locations: United Nations, Southeast Asia, California, Chicago
Bitcoin ATMs are a rapidly growing presence in the United States and, some experts say, a rapidly growing cybercrime menace. So, while a cash ATM tucked away between the snack cakes and energy drinks at a gas station may not draw much attention, a bitcoin ATM gets more scrutiny from bad actors. But in addition to old tricks, there are newer threats bitcoin ATMs introduce that cash ATMs do not face. Although the bitcoin ATM isn't exactly drawing crowds, Patel says a surprising number of senior citizens show up at the kiosk, alarming given the rise of bitcoin ATM scams targeting seniors. Basic steps to avoid bitcoin ATM scamsTo protect against these scams, users should be cautious and skeptical of any request to pay through a bitcoin ATM.
Persons: Timothy Bates, Bates, Joe Dobson, Dobson, Donald Trump's, J.D, Vance, refashioned, Elon Musk, Sai Patel, Patel, Alice Frei, Frei Organizations: University of Michigan's College of Innovation, Technology, Federal Trade Commission, Google, Social, Middletown Food Mart, Ohio, Trump Locations: United States, Middletown , Ohio, Middletown
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