Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes the latest payments/FinTech news from Alibaba, along with developments in a big payday lending scam. A new holiday fraud warning is out, Amazon goes upscale in NYC and India readies for biometrics.
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The Federal Trade Commission, working in conjunction with the U.S. Department of Justice, announced on Thursday (Sept. 27) that it is mailing 1,179,803 refund checks totaling more than $505 million to people who were deceived by a payday lending scheme operated by AMG Services, Inc. and Scott A. Tucker.
To drive home the danger and scope of the problem, Venafi said that one top 20 U.S. retailer has more than “12,000 look-alike domains targeting their customers.” In Germany, meanwhile, there exist “four times more look-alike domains than valid domains” when measured by the top 20 online retailers in that country.
Every product is rated four stars and above, is a top seller or is new and trending on Amazon’s website. The store is located in New York City’s SoHo neighborhood, on Spring Street between Crosby and Lafayette Streets.
Aadhaar has provided biometric identity verification for more than a billion people, but critics have warned that it could lead to a surveillance state, as well as enable companies to profile clients.