Search online for the words “Facebook scams” and your search engine will immediately deliver myriad news stories warning consumers to be vigilant when scrolling through the site. One recent story specifically identifies Facebook Marketplace as an especially popular place for scammers to hang out. So popular,...
The world’s cybercriminals all share one thing in common: they understand people can be exploited. After all, people make mistakes. They fall for scams, and frequently either ignore or fail to adhere to best practices when it comes to security — even around security-critical occasions...
The FTC is sending millions in refunds to victims of a student fraud scheme. The $4.1 million payments will go to some 27,000 consumers who were duped by a fake loan forgiveness scam, the Federal Trade Commission (FTC) said in a Wednesday (March 13) news release. “The scheme used many...
Scam factories, where perpetrators themselves are victims of a system they help perpetuate, present a significant challenge to the integrity of global financial networks, resulting in an estimated $75 billion lost over the last four years. These fraud factories operate predominantly across developing markets like...
More consumers than ever now rely on mobile apps to manage their daily chores. PYMNTS Intelligence found that a growing percentage of Americans click on apps to administer their bank activity (49%), bills and subscriptions (37%), savings and investments (26%), retail shopping (24%) and grocery...
Amazon is using several tactics to combat impersonation fraud. The company’s multifaceted approach includes deploying advanced technologies for better account protection, launching educational initiatives to help customers recognize genuine communications, and collaborating with law enforcement to dismantle scam operations, Amazon said in a Tuesday (March 5) blog...
A post on an online forum popular with cybercriminals reportedly claimed that UnitedHealth Group paid $22 million to the Blackcat ransomware group to recover compromised data and systems of its subsidiary, Change Healthcare. In addition, a cryptocurrency tracking firm’s analysis suggests the occurrence of a significant transaction with...
American Express has notified customers of a data breach at a third-party service provider that is used by many merchants. The unnamed service provider “experienced unauthorized access to its system,” and account information of some American Express card members may have been involved, American Express said...
Behavioral fraud and social engineering scams are getting more dangerous for businesses. Despite the increasingly sophisticated weapons fraudsters have on hand to execute their scams, social engineering tactics remain one of their most effective ploys. This, as a study published Thursday (Feb. 29) by researchers at the...
