FinCEN Warns of Impostor, Money Mule Scams Connected with COVID-19
The Financial Crimes Enforcement Network today issued an advisory alerting financial institutions to imposter scams and money mule schemes connected to the coronavirus pandemic.
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FinCEN Issues Warning on COVID-19 Medical Scams, Notice on Reporting
The Financial Crimes Enforcement Network today issued an advisory on medical scams related to the coronavirus pandemic—the first in a new series of warnings about COVID-19-related financial crimes—as well as a notice on filing reports of COVID-19-related suspicious activities.
COVID-19 Scams and the Elderly: Inspiring Savvy Seniors
Compliance professionals are uniquely positioned to educate older Americans about the growing number of scams surrounding the pandemic.
Podcast: Red Flags for ‘Money Mule’ Scams
Amid the coronavirus pandemic, cybersecurity and fraud analysts have noted an uptick in “money mule” scams. Banks increasingly need to be on the lookout for the telltale signs of these scams.
ABA Foundation, FTC Release New Infographic on Money Mule Scams
A new infographic released today by the ABA Foundation and the Federal Trade Commission highlights “money mule” scams—a type of scam in which criminals use their victims to move stolen funds.
ABA Data Bank: Losses from Romance Scams Increased 40% in 2019 to $201 Million
Read more about the FTC’s findings View the FTC/ABA Foundation infographic
Losses from Romance Scams Increased in 2019, FTC Finds
Consumers lost $201 million to romance scams in 2019, an increase of nearly 40% from a year prior, according to new data from the Federal Trade Commission’s Consumer Sentinel Network.
FTC Finds Impostor Scams Among Top Frauds in 2019
Impostor scams—in which scammers pose as representatives from the government or a well-known business, romantic interests or family members—were the number one type of fraud reported to the Federal Trade Commission’s Consumer Sentinel in 2019, the agency said today.
New ABA Foundation Infographic Provides Tips to Protect Veterans from Scams
A new infographic from the American Bankers Association Foundation, Association of Military Banks of America and the Better Business Bureau provides tips for veterans, active duty servicemembers and their families on how to protect themselves from financial scams targeting the military.
ABA Foundation, FTC Release Infographic on Fake Check Scams
The ABA Foundation and the Federal Trade Commission today released an infographic to help consumers recognize and understand the growing trend of fake check scams.