FBI: Crypto-related fraud losses increased 45% in 2023
Cryptocurrency-related fraud resulted in more than $5.6 billion in losses in 2023, representing a 45% increase from the previous year, ...
Tag: Scams
FinCEN analysis finds mail theft-related check fraud a widespread problem for banks
FinCEN received more than 15,000 Bank Secrecy Act reports about possible mail theft-related check fraud during a six-month period in ...
FCC announces ABA-recommended action to combat illegal calls and texts
Federal Communications Commission Chairwoman Jessica Rosenworcel announced that the FCC will vote later this month on new rules to combat ...
FTC warns consumers about college tuition billing scam
Phone calls to college students and parents demanding immediate payment for tuition are scams that seek to trick victims into ...
ABA, associations: Electronic transfer fraud reimbursement bill would harm financial inclusion
ABA and three associations said they opposed legislation to require financial institutions to reimburse customers for electronic fund transfers that ...
IRS, tax industry announce joint effort to combat tax scams
The IRS, state tax agencies and tax industry representatives have announced a new joint effort to combat the growth in ...
Report: Financial institutions face challenges in warning consumers about payment scams
Financial institutions face a challenge in effectively conveying to consumers fraud warnings and helping consumers better understand how scams play ...
Democrats introduce bill to require reimbursements for electronic transfer fraud
Democrats in the House and Senate introduced legislation to require financial institutions to reimburse customers for electronic fund transfers that ...
FTC warns young adults about social media fake check scam
A new social media scam seeks to trick young people into depositing fake checks in exchange for paintings of the ...
ABA, associations: Banks cannot fight financial scams on their own
Banks are only one contributor to the overall safety and security of the payments ecosystem and cannot single-handedly prevent criminals ...
