FTC: Romance Scams Rise 50% Since 2019
The amount of money consumers reported losing to romance scammers has increased by 50% since 2019 and has risen more than fourfold since 2016, the Federal Trade Commission said today.
The amount of money consumers reported losing to romance scammers has increased by 50% since 2019 and has risen more than fourfold since 2016, the Federal Trade Commission said today.
What’s top of mind for community bank risk managers in 2021? Kristina Schaefer provides an overview of what’s on her radar screen as chief risk officer and general counsel at First Bank and Trust.
A global pandemic, a struggling economy and a new administration throw wrenches into risk managers plans for the year ahead.
With multiple promising COVID-19 vaccines on the horizon, a new consumer alert from the Federal Trade Commission this week warned consumers of potential fraud scams associated with the vaccines.
When asked about threats specifically targeting banks, Federal Bureau of Investigation Director Christopher Wray urged banks to be wary of “cyber criminals targeting the vulnerabilities in third-party services” as a way in to financial institution data.
A truly comprehensive approach to managing risk will require the financial sector to mitigate concerns about collaborating with competitors.
U.S. law enforcement agencies took action against more than 2,300 money mules over the last two months as part of the third annual Money Mule Initiative, a coordinated operation between the Department of Justice, the FBI, the U.S. Postal Inspection Service and six other federal law enforcement agencies.
Application fraud and account takeover attacks have soared during the pandemic, but modern technologies enable secure and convenient banking
Scams that start on social media have been increasing for years and climbed from $134 million total reported losses in 2019 to $117 million in just the first six months of 2020, the Federal Trade Commission said today.
The ABA Foundation, in collaboration with the Federal Trade Commission, released a new infographic today to educate consumers on impostor scams which disproportionately affect older adults.