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☆ Meta exploring plans for Twitter rival
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

March 10 (Reuters) - Meta Platforms Inc (META.O) is exploring plans to launch a new social media app in its bid to displace Twitter as the world's "digital town square". "We're exploring a standalone decentralized social network for sharing text updates. A Twitter-like app would allow Meta to take advantage of the current chaos at the Elon Musk-led company, where cost-cutting has been rampant. Twitter has been struggling to hold on to its advertising base since Musk's takeover of the platform late last year. "They're just trying everything... at least with a mini blogging site like Twitter, there's some expectation that it could start to make money out of much quicker timeline than the metaverse investment."

☆ Coinbase customer who lost $96,000 in a crypto hack has sued the exchange after getting the brush-off
▼ + stars: | 2023-03-08 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +4 min

A Coinbase user is suing the exchange to recover 90% of his life savings that he says was stolen from him, lawsuit claims. But the exchange ignored several red flags for fraud, he alleges in his claim for triple damages. "Coinbase's email disclaimed any responsibility for the hacking of its customers' accounts," the filing read. It's not the first time Coinbase has seen complaints from customers who lost money on their accounts in a SIM swap scam. Coinbase also encourages customers to take measures to secure their personal accounts and information outside of Coinbase," the company said in a statement to Insider.

☆ A couple in Canada were reportedly scammed out of $21,000 after getting a call from an AI-generated voice pretending to be their son
▼ + stars: | 2023-03-06 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

A couple in Canada reportedly lost $21,000 from a scammer claiming to be a lawyer and their son. Benjamin Perkin told The Washington Post his parents thought the AI-generated voice was him. Perkin told the Post the voice was "close enough for my parents to truly believe they did speak with me." Scams involving AI technology predate the emergence of ChatGPT and other AI bots going viral right now. "AI tools that generate authentic-seeming videos, photos, audio, and text could supercharge this trend, allowing fraudsters greater reach and speed," she said.

☆ 'Trauma entrepreneurs' are accused of using tragedy to make a profit – here's how after a recent college shooting
▼ + stars: | 2023-03-04 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

In the aftermath of the shooting, the MSU community joined together to support. "Unscrupulous businesses" are accused of selling unlicensed MSU items possibly under the guise of donating proceeds. "They were NOT wearing this sweatshirt design. According to the Detroit Free Press, the original sweatshirt design was that of MSU donor recognition coordinator Andersen Herminia Boyer, who made sweatshirts for herself and other members of her alumni group. "Unscrupulous businesses and individuals have engaged in selling unlicensed apparel and other merchandise.

☆ Meet the 'boommates': These two baby boomers live together to cut costs and build a relationship
▼ + stars: | 2023-03-01 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Miller had an extra room in her home and thought why not find a roommate to help pay the mortgage. She called her local senior center, and they suggested she try Silvernest, a home-sharing platform founded in Colorado in 2015. According to Miller, Mears pays $650 on a month-to-month basis for her lodging and utilities. Longmont, Colorado, where Mears and Miller live, is located 40 miles north of Denver. After less than a week, Miller and Mears were eating dinner together regularly, taking turns cooking for each other.

☆ Fraud cost consumers $8.8 billion last year, Federal Trade Commission says. That's up 44% from 2021
▼ + stars: | 2023-03-01 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Scammers are making more money per episode of fraud, new government data suggests. While the number of fraud reports recorded through the Federal Trade Commission's database fell to 2.4 million in 2022 from 2.9 million, the aggregate loss from those instances reached nearly $8.8 billion. That's up 44% from the $6.1 billion reported in 2021 to the FTC. Investment scams cost the most — more than $3.8 billion — compared with other categories, and more than double the $1.8 billion reported in 2021. The second-highest reported loss amount came from imposter scams — the most prevalent form of fraud reported — with losses of $2.6 billion reported, up from $2.4 billion in 2021.

☆ Odometer fraud is a $1 billion problem. Here's how it costs American drivers
▼ + stars: | 2023-02-28 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +1 min

A type of motor vehicle crime that costs consumers in the U.S. about $1 billion a year is on the rise, according to data firm Carfax. Average used vehicle prices rose from about $20,000 in December 2019 to about $27,000 in December 2022, according to Cox Automotive. Supply chain disruptions and shortages in new vehicle inventory have pushed more customers to the used market, which in turn has pushed up prices. Those circumstances also are making used vehicles scarcer. "I can't tell you for sure, but I suspect with the recent surge in used car prices, that it's becoming a more enticing tactic for scammers," said Patrick Olsen, executive editor at Carfax.

☆ Biggest security benefits, risks with new Meta, Twitter verified identity subscriptions
▼ + stars: | 2023-02-23 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +12 min

As Twitter and Meta Platforms move to paid subscriptions for social media identity verification and security, the battle to stay safe online continues. With social engineering and phishing the primary sources of social media account compromise, it's unlikely verified accounts will actually be more secure. "Twitter is only eliminating the SMS-based two-factor authentication capability, and does offer two additional methods for two-factor authentication that are stronger and more reliable than SMS-based authentication," Ramzan said. When signing on for a social media account, try to give away as little personal information as possible, Buzzard said. Aura recommends social media users disable third-party apps that are connected to their social media accounts.

☆ Fake ChatGPT tokens are flooding the market as crypto scammers take advantage of the AI craze
▼ + stars: | 2023-02-21 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Fake ChatGPT-branded tokens are hitting the market as scammers aim to capitalize on the AI tool's popularity. One issuer has created "dozens of tokens with a pump & dump scheme," said blockchain security firm PeckShield. The tech heavyweight worked with OpenAI, the nonprofit that created ChatGPT, to bring that technology to its search tool. "Deployer 0xb583 has already created dozens of tokens with a pump & dump scheme," PeckShield said, referring to an issuer's wallet address. Meanwhile, tokens carrying the ChatGPT name totaled 170 in a search on crypto trading platform DEXTools on Tuesday.

☆ George Santos's elaborate lies has seen the Congressman compared with a 19th-century huckster. History bears that out.
▼ + stars: | 2023-02-20 | by ( Allegra Rosenberg | ) www.businessinsider.com time to read: +15 min

My obsession is summed up pretty well by a tweet from @blagojevism: "George Santos is essentially a 19th-century character. Media depicting these characters found inspiration from real life: in a time before digital records and facial recognition, opportunity was everywhere. George Santos's brand of full-throated scammery is particularly American, something that belongs to this country as much as Abraham Lincoln and apple pie. The phrase "and if you believe that, I've got a bridge to sell you" comes from his legendary real-life method. But Santos, so far, has avoided jail time, giving him at least one leg up over the Yellow Kid.

☆ Ohio woman gets prison time after 'romance scam' led her to swindle over $500,000 from family members, officials say
▼ + stars: | 2023-02-18 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

An Ohio woman sent scammers thousands through the mail before inspectors discovered the money, officials say. After acknowledging she'd been scammed first, officials say the woman convinced family to send nearly $600,000. In April 2020, US Postal Inspectors found a total of $100,000 inside packages sent from Matson to the accused con artists from a P.O. "Matson also sent links to news articles and Facebook stories about a missing Ohio teenager to deceive the inspector into acting quickly," the release states. The pair reportedly used the same claim about military officers needing money to swindle women into mailing $844,070 to P.O.

☆ Minnesota just shut down a student-loan forgiveness company accused of illegally taking money from borrowers for services they could've gotten for free
▼ + stars: | 2023-02-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Minnesota shut down student-debt relief company Direct Account Management over fraudulent behavior. It accused the company of illegally taking money from borrowers for services that are otherwise free. The company is required to pay the state $20,000, which will be distributed to impacted borrowers. This marks the 13th time Ellison has shut down a student-debt relief company in the state over fraudulent behavior. In light of the uncertainty, and the potential of broad relief, the Education Department launched a communications campaign to protect borrowers from scams.

☆ Event crashers beware: New York Fashion Week security is on high alert to prevent anyone sneaking in
▼ + stars: | 2023-02-11 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Sources in the fashion industry told Page Six that New York Fashion Week crashers are going to great lengths to get on the guest list. With a spike in clever content about sneaking into such events, which started this week, spreading online, event coordinators are being extra cautious, Page Six reported this week. According to the Page Six report, there are reports of a "crashersnetwork" group in which people share invites to exclusive events. A September report from The Cut magazine alleged that TikTok has created a boom in people attempting to sneak into exclusive fashion events like the annual Met Gala and fashion week after parties. You can peer in but not be a part of this weird exclusive world,'" Lip said in the video.

☆ Elon Musk pledged transparency at Twitter. But he’s walling off researchers
▼ + stars: | 2023-02-09 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

But Twitter’s changes erecting a paywall for API access may jeopardize all that, Tromble and other researchers said. Undermining the fight against botsMusk has framed Twitter’s API restrictions as part of his wider effort to stamp out spammy, automated accounts. Ironically, however, Musk’s looming changes to the Twitter API might make it harder to study bot behavior on Twitter. API access has provided a critical resource for that work. “The researchers who were signed up to the program have heard nothing from the company in months, since Musk’s acquisition.”Adding to Twitter’s scrutiny by regulatorsBeyond the immediate impact to researchers, Twitter’s transparency issues could land the company in hot water with policymakers.

☆ Twitter says low-level use of its API will cost $100 per month. The announcement comes after it blocked the use of apps like Tweetbot and Twitterrific.
▼ + stars: | 2023-02-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Twitter has announced a $100 monthly charge for low-level use of its API. Last week, Twitter's CEO Elon Musk proposed a charge but did not specify the level of usage. The official announcement comes after Twitter blocked the use of apps like Tweetbot and Twitterific. Last week, Twitter's CEO Elon Musk floated the $100 monthly charge for API access, saying the interface was being "abused badly" by "bot scammers & opinion manipulators." Popular third-party services, including Tweetbot and Twitterrific, relied on the use of Twitter's API.

☆ 'Phishing-as-a-service' kits are driving an uptick in theft: What you can learn from one business owner's story
▼ + stars: | 2023-02-06 | by ( Dawn Giel | ) www.cnbc.com time to read: +11 min

While Christmas shopping for his young daughter, he received a call from a person claiming to be from the Chase fraud department and asking to verify a suspicious transaction. Unfortunately, for victim of these schemes, the bank isn't always required to repay the stolen funds. CNBC has reviewed Mullenaux's cellular records, bank account information, as well as images of the text message and link he was sent. He immediately drove to his local Chase bank branch where he was told he had likely been the victim of fraud. Legally, banks do not have to reimburse stolen funds when a customer is tricked into sending money to a cybercriminal.

☆ Robocallers are preying on the elderly with fake Medicare calls. It's a no-brainer to stop it, but nobody has.
▼ + stars: | 2023-02-06 | by ( Madison Hall | ) www.businessinsider.com time to read: +7 min

These honeypots comprise only a sliver of the total number of US phone numbers but provide valuable insights into how robocalling scams operate. Every day, the honeypot numbers get inundated with calls from scammers purporting to be from Medicare. Many of those calls spoof the services' "1-800-MEDICARE" (1-800-633-4227) hotline in the phone's caller ID. "Many seniors are targeted by scammers who want to steal their Medicare numbers to do things like rack up fake health care charges and commit identify theft," the representative said. With this in mind, it's unclear why the Centers for Medicare & Medicaid Services use the phone line for both outbound and inbound calls.

☆ Elon Musk says bots making 'good content' will be exempt from Twitter's plan to charge for API access
▼ + stars: | 2023-02-05 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

Twitter plans to charge developers to access the API used to make third-party services and bots. Elon Musk has tweeted it would offer a free, write-only API for bots "providing good content." Saying he was "responding to feedback," Musk tweeted late Saturday: "Twitter will enable a light, write-only API for bots providing good content that is free." Musk said then that the free access had previously been "abused badly" by "bot scammers & opinion manipulators." "Just ~$100/month for API access with ID verification will clean things up greatly," he tweeted.

☆ Elon Musk proposes a monthly $100 charge for developers who want to access Twitter's API, saying it would clean up 'bad' bots
▼ + stars: | 2023-02-03 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Elon Musk proposed charging $100 a month for access to Twitter's API. He said the $100 fee along with ID verification for Twitter's API would clean up "bad" bots. It was easy for 100,000 bots "to do bad things" when there was no cost or verification process in place for API access, he said. "Just ~$100/month for API access with ID verification will clean things up greatly," Musk added. Developers can use Twitter's API to create third-party services, such as Tweetbot and Twitterrific.

"I feel violated," White told NBC News on Friday. “You know how they say ‘stranger danger?’ That’s the way I feel.”The men have been coming to White's door hail from all over Texas. The men she's spoken to have been honest about why they're at her door. In one incident captured on her doorbell security camera, a man said he was there to "meet someone" named "Rhonda." White said she's been overwhelmed by the support she's received from neighbors and former co-workers who live nearby.

[1/2] A logo of Meta Platforms Inc. is seen at its booth, at the Viva Technology conference dedicated to innovation and startups, at Porte de Versailles exhibition center in Paris, France June 17, 2022. REUTERS/Benoit TessierJan 25 (Reuters) - Former U.S. President Donald Trump's potential return to Meta Platform's (META.O) Facebook and Instagram is unlikely to change how advertisers spend money with the world's second-largest digital ad company, ad agency executives said. In a blog post on Wednesday announcing Trump's reinstatement, Meta said he will face "heightened penalties for repeat offenses." Trump's reinstatement, however, reinforces long-standing concerns about how social media platforms can ensure that ads don't appear next to content that marketers consider unsuitable, D'Altorio said. Ad spending on Twitter slumped in the last two months of 2022, according to Standard Media Index, which measures ad spending based on data from ad agencies.

☆ Ad spending on Twitter falls by over 70% in Dec - data
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

Jan 24 (Reuters) - Advertising spend on Twitter Inc dropped by 71% in December, data from an advertising research firm showed, as top advertisers slashed their spending on the social-media platform after Elon Musk's takeover. The recent data by Standard Media Index comes (SMI) as Twitter is moving to reverse the advertiser exodus. According to the SMI data, ad spending on Twitter in November fell 55% from last year despite these months traditionally being a time of higher ad spending as brands promote their products during the holiday season. Fourteen of the top 30 advertisers on Twitter stopped all advertising on the platform after Musk took charge on Oct. 27, according to the Pathmatics estimates. Twitter's fourth-quarter revenue fell about 35% year over year due to a slump in advertising, technology-focused publication the Information reported, citing details shared by a top Twitter ad executive at a staff meeting last week.

☆ Big banks take aim at Apple Pay, PayPal with their own electronic wallet plans
▼ + stars: | 2023-01-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN Business —America’s largest banks announced plans Tuesday for an electronic wallet that will take aim at Apple Pay and PayPal. The banks are working with Early Warning Services, the company that runs their Zelle electronic payment service. The new electronic wallet, which will operate separately from Zelle, would allow people to make purchases online. The digital wallet is an attempt to regain banks’ control of purchases currently being made using Apple Pay and similar services. While it responded to Warren that it was changing its liability policies and refunds for customers, Warren responded in December that she had little faith about the changes.

☆ Live Nation exec will face lawmakers about Taylor Swift concert tickets fiasco
▼ + stars: | 2023-01-24 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

“It goes without saying that I’m extremely protective of my fans,” Swift wrote on Instagram in November. The mergerCriticism of Ticketmaster’s dominance dates back decades, but the Swift ticketing incident has once again turned that issue into a dinner table discussion at many households. Concert promoter Live Nation and ticketing company Ticketmaster, two of the largest companies in the concert business, announced their merger in 2009. ‘Customers are the ones that pay the price’While irate fans were left scrambling to wade through the Swift ticket confusion, their collective anger caught lawmakers’ attention. To me, what happened with the Swift concert tickets was not necessarily the result of Ticketmaster being the dominant player in the industry,” he said.

☆ Firms use Google ads to entice small businesses to pay for help the gov't provides free
▼ + stars: | 2023-01-20 | by ( Jesselyn Cook | Jesselyn Cook Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +11 min

Several draw in unwitting customers like Talbot through Google ads that outrank the legitimate SAM.gov page, illustrating the ease of buying visibility on the world’s largest search engine. Google removed the ads for a number of these sites in response to an inquiry for this article but subsequently reversed its decision. “We have strict ads policies that govern the types of ads and advertisers we allow on our platforms,” Google spokesperson Davis Thompson said in a statement. But the Small Business Administration urges people not to spend their precious resources on these services when so many free alternatives exist. She expects new, prominently displayed Google ads to play a part in the problem.

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