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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

☆ The bitcoin ATM has emerged as one of cryptocurrency's biggest threats
▼ + stars: | 2024-09-08 | by ( Kevin Williams | ) www.cnbc.com time to read: +6 min

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

☆ An ex-Mastercard executive was nearly scammed of $100,000. Here's how she spotted it.
▼ + stars: | 2024-09-07 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

A former Mastercard executive told Business Insider she nearly lost $100,000 to an account takeover scam last year. The fraudsters used information found in emails about Woneis's transactions to impersonate the title company for her home. The fake title company then emailed Woneis, asking for an "accelerated" payment. "They sent me wire instructions that perfectly mimicked the wire instructions from the title company. "We could have potentially been caught in wire fraud."

Persons: —, Catherine Woneis, Woneis, Scammers, it's Organizations: Service, Mastercard, MasterCard, Business

☆ 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

☆ First France, now South Korea — Telegram's legal troubles are only growing. Here's why
▼ + stars: | 2024-09-03 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

Nurphoto | Nurphoto | Getty ImagesFollowing the recent arrest of its founder in France, Telegram is now facing potential legal troubles in South Korea. Parallels in the casesDurov, the 39-year-old Russian-born billionaire, was arrested by French authorities following a preliminary investigation into Telegram launched on July 8. Similar to South Korea's investigation, French authorities were probing the platform's role in the distribution of pornographic images of minors, as well as facilitating organized crime, drug trafficking and fraud. Telegram's refusal to share information with investigators when required by law has also been noted in the French investigation. Now, in South Korea, they are attracting distributors of deepfake porn.

Persons: Pavel Durov, Durov, Woo Jong, Woo Organizations: Nurphoto, Yonhap News Agency, National Office of Locations: Krakow, Poland, France, South Korea, Russian, U.S, Brazil, Germany

☆ It’s not just you. More weird spam is popping up on Facebook
▼ + stars: | 2024-09-03 | by ( Clare Duffy | ) edition.cnn.com time to read: +11 min

Posts with obviously AI-generated images and confusing captions sometimes receive thousands of likes and hundreds of comments and shares. “The Facebook Feed … at times shows users AI-generated images even when they do not follow the Pages posting those images. Experts who track this kind of online behavior say there are likely several different kinds of actors behind the Facebook spam, with varying motives. Meta also automatically labels AI-generated images created with its own tools. However, there are still ways for users to strip out that metadata (or create AI images without it) to evade detection.

Persons: you’re, “, ”, Ben Decker, Erin Logan, De Marco, Lewis Hine, Hany Farid, Amy Couch ”, Kris, influencer, We’ve, Amy Couch, Renee DiResta, Josh Goldstein, David Evan Harris, Harris, ” Harris, cheeseburgers, Jair, Bolsonaro, ” Farid, Meta Organizations: New, New York CNN, Facebook, Meta, National Child Labor, Google, Library of Congress, CNN, UC Berkeley, “ Cubs, Stanford, Georgetown, Media Locations: New York, TikTok, New Jersey, Meta

☆ Woman Was Scammed Out of Over $300K, Had to Lie to Family
▼ + stars: | 2024-08-29 | by ( Jane Zhang | ) www.businessinsider.com time to read: +16 min

After I told him I didn't know any of them, he said they'd investigate and help me clear my name. But because I was a suspect, I needed to send daily updates about my whereabouts and activities to ensure I didn't flee. He agreed the next day but said I needed to send money for collateral to ensure I didn't escape while he was representing me. I feel like I'm the scammer because I scammed my family, in a sense, by lying to them. But it said sometimes clients neglect warnings, lie about the purposes of withdrawals, and proceed with the transactions anyway.

Persons: Wannapa Suprasert, I'd, Wannapa, they'd, scammers, —, didn't, I'm, they're, haven't, Suprasert Organizations: Thai Embassy, police, Thai Consulate, Central Investigation Bureau, Thai, Hong Kong, Bank of, FBI, San Francisco police, Bank of America, Business, Bank, Royal Thai Embassy Locations: Thailand, San Francisco, Washington , DC, Bangkok, Washington ,, American, LA, Hong, Hong Kong

☆ How ‘Deepfake Elon Musk’ Became the Internet’s Biggest Scammer
▼ + stars: | 2024-08-14 | by ( Stuart A. Thompson | ) www.nytimes.com time to read: +13 min

How ‘Deepfake Elon Musk’ Became the Internet’s Biggest Scammer An A.I.-powered version of Mr. Musk has appeared in thousands of inauthentic ads, contributing to billions in fraud. Mr. Beauchamp, an 82-year-old retiree, saw a video late last year of Mr. Musk endorsing a radical investment opportunity that promised rapid returns. “I mean, the picture of him — it was him,” Mr. Beauchamp said about the video he saw of Mr. Musk. Original A.I. Audio Original Original A.I.

Persons: ‘ Deepfake Elon, Musk, Steve Beauchamp, Elon, Beauchamp, —, ” Mr, ‘ Pick, ’ that’s, “ It’s, ”, Francesco Cavalli, Scammers, Thorold Barker, Sensity, Warren Buffett, Jeff Bezos, “ Elon, Donald J, Trump, Elon Musk, Andrew Forrest, scammers, Lou Steinberg, Cavalli, Eastern Europe — cobble, “ There’s, Molly White, Finn Brunton, Davis, “ I’m Organizations: A.I, Deloitte, Wall, Street, Amazon, India, Facebook, YouTube, Better Business Bureau, CNET, Meta, Hong Kong’s Securities, Futures Commission, Federal Trade Commission, Federal Bureau of Investigations, TED, Fox News, Eastern Europe —, Tesla, University of California, CNN, New York Times, Magna, The New York Times, Better Locations: Sensity, India, Russia, China, Eastern Europe, Ontario, Canada

☆ Federal grand jury hears testimony on scam to steal Graceland from Elvis Presley’s family
▼ + stars: | 2024-08-13 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Brandy-Zadrozny-Circle-Byline-Template.Jpg | Brandy Zadrozny | ) www.nbcnews.com time to read: +4 min

MEMPHIS, Tenn. — A federal grand jury heard testimony Tuesday about a scam to steal the Graceland estate from Elvis Presley’s family. The Odell Horton Federal Building, in downtown Memphis, houses several federal offices, including the U.S. District Court for the Western District of Tennessee. Elvis Presley's Graceland estate was the target of a scam. Ariel J. CobbertPhilbrick was in Memphis on Monday with a friend to tour the Graceland estate before testifying before the grand jury on Tuesday. (A representative for the Graceland estate did not respond to a request for comment.)

Persons: Elvis Presley’s, Rasheed Jeremy Carballo, Lisa Holden, Holden, Lisa Marie Presley’s, Micah McCoy, NBC News Holden, Lisa Marie Presley, Elvis ’, ” Carballo, Kimberly Philbrick, Kevin Ritz’s, Odell Horton, Ariel J, Cobbert, Philbrick, Holden’s, “ Lisa, ”, Maria Tazbaz, ” Tazbaz, “, Elvis Presley's Graceland, Cobbert Kimberley Philbrick, Cobbert Philbrick, Graceland, ” Philbrick Organizations: NBC News, Holden, Naussany Investments, NBC, FBI, U.S, Western, of, U.S . Postal Inspection Locations: MEMPHIS, Tenn, —, Branson , Missouri, Graceland, Memphis, U.S, of Tennessee

☆ Trump-Musk live X event delayed by technical difficulties
▼ + stars: | 2024-08-13 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

Tech billionaire Elon Musk’s highly anticipated online event with former President Donald Trump was delayed Monday by technical difficulties as some users of Musk’s X app said they couldn’t access the discussion. Ron DeSantis launched his Republican presidential bid on X and was repeatedly disrupted because the site’s servers apparently couldn’t handle the surge in traffic. The event came as Trump has scaled back his in-person appearances after a would-be assassin shot at him at a July 13 rally in Pennsylvania. Some X users said they believed the problem was X’s technical capabilities, rather than an attack. Tim Walz, have also received a groundswell of social media support, with supporters posting a flurry of memes and videos.

Persons: Elon Musk’s, Donald Trump, Ron DeSantis, Musk, ”, scammers, Elon Musk, Trump, Biden, Kamala Harris, Tim Walz Organizations: Tech, Florida Gov, Republican, Trump, Elon, Musk, Tesla, SpaceX, Minnesota Gov Locations: Pennsylvania, Palm Beach, Fla

☆ How to Avoid Online Scams and What to Do if You Become a Victim
▼ + stars: | 2024-08-10 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: 1 min

Cybercrime is on the rise, but even the best antivirus software can’t thwart scammers who target the human psyche. Some of the most damaging and costly scams involve what’s known as “social engineering.” That’s when fraudsters use time-tested techniques of deception and emotional manipulation, tricking people into divulging personal or financial information, or even granting remote access to their computers. This is what happened to Barry Heitin, a 76-year-old retired lawyer who lost roughly $740,000 to sophisticated swindlers impersonating bank and government officials. People of all ages and socioeconomic levels are potential targets, but older Americans are particularly vulnerable. They’re more likely to have amassed savings, and they’re perceived to be more isolated or perhaps less computer savvy.

Persons: scammers, Barry Heitin

☆ Zelle says it's up to the police to stop scams
▼ + stars: | 2024-08-10 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

Federal authorities are investigating how banks reimburse consumers who are scammed on Zelle. Zelle says it should fall on law enforcement to stop the scammers. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementScams on payment apps like Zelle are getting so out of hand that federal authorities are starting to investigate.

Persons: —, JP, Wells Fargo, Zelle —, Sen, Richard Blumenthal, Blumenthal Organizations: Service, Consumer Financial Protection Bureau, JP Morgan, Bank of America, Investigations, Business Locations: Zelle

☆ Meta's AI keeps pretending to be me and giving my phone number out to strangers
▼ + stars: | 2024-08-05 | by ( Rob Price | ) www.businessinsider.com time to read: +10 min

You only need to save my phone number," the AI responded in Spanish — before sharing my phone number. Someone in this WhatsApp group had asked Meta AI for its phone number — and again it shared my number. It had replied that it did, and Maxi simply had to message a phone number — my phone number — to access the content. Since I asked Meta's communications team for help, I haven't received any more messages from people looking for Meta AI. Another time, Meta AI said it didn't have a phone number (it actually does, +1 313-555-0002, although it doesn't advertise it publicly).

Persons: Franco, escuadron lobo, Tell Gretel, he'd, Franco chimed, Meta, chatbot, Taylor, Taylor Swift, Maxi, I'm, I've, Pablo Morano, Meta's Emil Vazquez, Mark Zuckerberg, that's, Axel Springer, Cooper Neill, Getty, LLMs, Meta's, haven't, you've Organizations: Meta, alfa buena, Alpha, Business, Tech, LinkedIn, Facebook, Team Alpha, Squadron, Maxi, BSR Agency, Business Insider, CBC News Locations: Peruvian, Spanish, LLMs, scammers, WhatsApp, Memphis , Tennessee

☆ 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

☆ Federal grand jury set to hear evidence in scam to steal Graceland from Elvis Presley’s family
▼ + stars: | 2024-08-01 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Brandy-Zadrozny-Circle-Byline-Template.Jpg | Brandy Zadrozny | ) www.nbcnews.com time to read: +2 min

A federal grand jury is set to begin hearing evidence this month in the scam to steal the Graceland estate from Elvis Presley’s family, sources say. It involved a company called Naussany Investments, which claimed that Lisa Marie Presley, Elvis’ only child, owed millions of dollars in unpaid loans before she died. To collect on that debt, Naussany Investments sought control of Graceland through a foreclosure sale of the historic mansion. The documents Naussany Investments filed turned out to be forged, and a judge tossed out the case. More than half a dozen links seemed to separately connect Holden with the foiled scam at Graceland, NBC News found.

Persons: Elvis Presley’s, Lisa Holden, Holden, Graceland, Lisa Marie Presley, Elvis ’, Gregory Naussany, “, ” Lisa Holden, Micah McCoy, Howell, Findley, Naussany, ” Organizations: NBC News, FBI, Western, of, Naussany Investments, NBC, Investments, Holden Locations: Memphis , Tennessee, Branson , Missouri, U.S, of Tennessee, Nigeria, Missouri, Sullins, Graceland

☆ How One Man Lost $740,000 to Scammers Targeting His Retirement Savings
▼ + stars: | 2024-07-29 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

He was actually assisting criminals in stealing hundreds of thousands of dollars — of his own money. “They kept telling me, ‘This is a big case and we are going to stop a whole ring of people,’” Mr. Heitin said. I was going down the hole with them.”It cost him almost all of his retirement savings: roughly $740,000. Americans spend a lot of energy saving for retirement and worrying about losing money to the gyrations of the stock market. But these days, sophisticated criminals — on dating sites, social media, in messaging apps, or using malicious software — present an ever-growing risk to people and their savings.

Persons: Barry Heitin, “, ’, Heitin

☆ This biographer exchanged emails with Bernie Madoff from prison for a decade. Here’s what he learned
▼ + stars: | 2024-07-28 | by ( Annie Nova | ) www.cnbc.com time to read: +10 min

Richard Behar Courtesy: Lizzie CohenYou probably haven't heard Bernie Madoff's name in awhile, but that doesn't mean the infamous fraudster's story is over, or the pain he inflicted. Irving Picard, an 83-old court-appointed trustee, still spends his days trying to claw back money from the those who benefitted from Madoff's Ponzi scheme, and to reduce the staggering losses of others. 'Prison was a great relief for him'AN: How did Madoff say life in prison changed him? In prison, he'd typically wake up in his cell at around 4 a.m., make coffee in bed with an instant hot water machine, then read, or listen to NPR until breakfast. RB: Bernie said he was under constant stress over the Ponzi, and would talk out loud to himself sometimes in the office, because of the pressure.

Persons: Richard Behar, Lizzie Cohen, Bernie Madoff's, Irving Picard, Madoff, Elie Wiesel, Ruth, he's, Behar, Richard Behar's, Mark, MADOFF, BERNARD L, he'd, Annie Nova, I've, I'm, scammers, —, Bernard Madoff, Stephen Chernin, I'd, Bernie, Chris Hondros, wasn't, Picard, John Moscow, Irving, Picard isn't, It's Organizations: CNBC, Behar's, Forbes, Manhattan Federal, Getty, NPR, SEC, Manhattan Locations: North Carolina, New York City

☆ How Visa employed artificial intelligence to check $40 billion in fraud as scammers also take to AI
▼ + stars: | 2024-07-26 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Payments giant Visa is using artificial intelligence and machine learning to counter fraud, James Mirfin, global head of risk and identity solutions at Visa, told CNBC. The company prevented $40 billion in fraudulent activity from October 2022 to September 2023, nearly double from a year ago. Fraudulent tactics that scammers employ include using AI to generate primary account numbers and test them consistently, said Mirfin of Visa. We do about 300 billion transactions a year," Mirfin told CNBC. It's looking at a range of different attributes and we're evaluating every single transaction," Mirfin said.

Persons: James Mirfin, Mirfin Organizations: Visa, CNBC, PAN

Prepaid debit cards or gift cards are easy ways to send money to someone without a bank account. Prepaid debit cards and gift cardsAccording to a 2021 FDIC study, nearly a third of unbanked households commonly use prepaid debit cards. Tips for sending money to someone without a bank accountWhen sending money to someone without a bank account, Marguerita Cheng, CFP® professional, RICP, and CEO of Blue Ocean Global Wealth, suggests comparing different options to find the best for your situation. Money transfer services, prepaid debit cards, gift cards, and digital payment apps or digital wallets are alternatives to sending and receiving money without a bank account. International money transfer services, such as those offered by Western Union or MoneyGram, can help you send money securely to someone without a bank account who lives overseas.

Persons: Venmo, It's, Marguerita Cheng, Cheng, you'll, You'll, you'd, Avanzamos Organizations: PayPal, Venmo, Apple, FDIC, CFP, Blue, Bank, Western Union Locations: Western Union, Western, Chevron

☆ How to Guard Against Scams Tied to the CrowdStrike Crash
▼ + stars: | 2024-07-20 | by ( Hank Sanders | Emmett Lindner | ) www.nytimes.com time to read: +1 min

In the hours after the American cybersecurity firm CrowdStrike deployed a flawed software update that crippled critical businesses and services around the world, scammers pounced. Government agencies and businesses have warned that the panic caused by the CrowdStrike crash on Friday has given criminals an opening to take advantage of customers who are looking to reschedule flights, access banking information or fix their technology. CrowdStrike provides cybersecurity for some 70 percent of Fortune 100 companies, so the crash led to widespread failures that grounded planes, crippled businesses, disrupted 911 emergency systems and delayed banking transactions. Thieves online are using the confusion to carry out a variety of scams, including phishing attempts, the U.S. Cybersecurity and Infrastructure Security Agency said. The National Cyber Security Center in the United Kingdom issued a similar statement noting that an “increase in phishing referencing this outage has already been observed.”

Persons: CrowdStrike, pounced, ” Organizations: Government, Fortune, Cybersecurity, Infrastructure Security Agency, Cyber Security Locations: U.S, United Kingdom

☆ CrowdStrike imposters are luring victims into scams after global tech outage
▼ + stars: | 2024-07-20 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

Fake tech support scams have emerged after the CrowdStrike outage disrupted systems worldwide. The outage was caused by a defective software update from CrowdStrike, not a cyberattack. CrowdStrike warned about phishing and fake websites and shared a list of impersonators. AdvertisementTech support scams are popping up after Friday's CrowdStrike debacle, which disrupted computer systems worldwide and across industries. The meltdown was triggered by a faulty software update CrowdStrike released in the morning, leaving businesses and others scrambling for solutions.

Persons: CrowdStrike, —, Friday's Organizations: Service, Business

Why scammers target student loan borrowersStudent loan scams are common, especially as confusion remains over student loan forgiveness. There are currently forgiveness programs in place for federal student loans, like Public Service Loan Forgiveness, and accommodating repayment options, like Income-Driven Repayment Plans. What are the real student loan forgiveness programs? Real student loan forgiveness programs include Public Service Loan Forgiveness (PSLF), Income-Driven Repayment (IDR) forgiveness, teacher forgiveness, etc. Student loan scams: ConclusionDon't let scammers profit off your student debt.

Persons: Scammers, Biden, I've, you've Organizations: Public, of Education, Social, Federal, Bureau, Federal Trade Commission, Department of Education, Chevron, Real

☆ Mark Cuban is warning people to be careful of scammers and grifters on X after the Trump assassination attempt
▼ + stars: | 2024-07-14 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +1 min

Mark Cuban says scammers are out and trying their luck after the Trump rally shooting. Cuban reposted a thread by AI startup founder Josh Olin, which listed several fundraising scams on X. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBillionaire "Shark Tank" investor Mark Cuban is warning people to be careful of scams and grifts in the wake of the shooting in Pennsylvania that saw former President Donald Trump wounded and one man killed. This story is available exclusively to Business Insider subscribers.

Persons: Mark Cuban, Cuban, Josh Olin, —, Donald Trump Organizations: Trump, Service, Business Locations: Pennsylvania

☆ I was scammed out of nearly $300,000 and was forced to abandon my retirement dreams
▼ + stars: | 2024-07-08 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

Last year, I started looking for ways to make more money from my retirement savings. The so-called investment company asked me to take out a line of credit. AdvertisementI trusted the big bank that the scammers usedStill, the so-called investment company called me, asking for more money. I never would have transferred money to a small bank or international establishment, but if you can't trust them, who can you trust? We need to be able to trust the government and major institutions like Bank of America to stop this fraud.

Persons: Leonid Shteyn, I'd, Scammers, I've, I'm Organizations: Business, Bank of America Locations: bitcoin, Bulgaria, Czech Republic, New York, Texas

☆ 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

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