Fraud
US govt says Americans lost record $12.5 billion to fraud in 2024
The U.S. Federal Trade Commission (FTC) said today that Americans lost a record $12.5 billion to fraud last year, a 25% increase over the previous year. Consumers reported that investment scams resulted in the highest losses, totaling around $5.7 billion with a median loss of over $9,000 and exceeding all other fraud categories. The second […]
Google expands Android AI scam detection to more Pixel devices
Google has announced an increased rollout of new AI-powered scam detection features on Android to help protect users from increasingly sophisticated phone and text social engineering scams. The tech giant says these features come in response to AI-assisted scam campaigns that, according to statistics from the Global Anti-Scam Alliance, have defrauded people of over $1 […]
California man steals $50 million using fake investment sites, gets 7 years
A 59-year-old man from Irvine, California, was sentenced to 87 months in prison for his involvement in an investor fraud ring that stole $50 million between 2012 and October 2020. Allen Giltman and other fraudsters used over 150 fraudulent sites impersonating financial institutions that advertised various investment opportunities (primarily certificates of deposit with higher than […]
Pastor who saw crypto project in his “dream” indicted for fraud
A pastor at a Pasco, Washington, church has been indicted on 26 counts of fraud for allegedly operating a cryptocurrency scam that defrauded investors of millions between 2021 and 2023. The US Department of Justice says the pastor, Francier Obando Pinillo, 51, used his position to recruit investors into a fraudulent cryptocurrency venture called “Solano Fi,” which […]
Over 3.1 million fake “stars” on GitHub projects used to boost rankings
GitHub has a problem with inauthentic “stars” used to artificially inflate the popularity of scam and malware distribution repositories, helping them reach more unsuspecting users. Stars are similar to “Like” buttons on social media sites, allowing GitHub users to favorite a repository. GitHub uses the stars as part of a global ranking system and to show you […]
FTC warns of online task job scams hooking victims like gambling
The Federal Trade Commission (FTC) warns about a significant rise in gambling-like online job scams, known as “task scams,” that draw people into earning cash through repetitive tasks, with the promises of earning more if they deposit their own money. Although this type of scam was nearly non-existent in 2020, with the FTC receiving zero […]
Spain busts voice phishing ring for defrauding 10,000 bank customers
The Spanish police, working with colleagues in Peru, conducted a simultaneous crackdown on a large-scale voice phishing (vishing) scam ring in the two countries, arresting 83 individuals. Thirty-five of the arrested people were located across Spain, including in Madrid, Barcelona, Mallorca, Salamanca, and Vigo, and another 48 were arrested in Peru. The leader of the […]
FBI shares tips on how to tackle AI-powered fraud schemes
The FBI warns that scammers are increasingly using artificial intelligence to improve the quality and effectiveness of their online fraud schemes, ranging from romance and investment scams to job hiring schemes. “The FBI is warning the public that criminals exploit generative artificial intelligence (AI) to commit fraud on a larger scale which increases the believability […]
US charges five linked to Scattered Spider cybercrime gang
The U.S. Justice Department has charged five suspects believed to be part of the financially motivated Scattered Spider cybercrime gang with conspiracy to commit wire fraud. Between September 2021 and April 2023, they were able to steal millions from cryptocurrency wallets using victims’ credentials stolen in SMS phishing attacks targeting dozens of targets, including both individuals […]
Over a thousand online shops hacked to show fake product listings
A phishing campaign dubbed ‘Phish n’ Ships’ has been underway since at least 2019, infecting over a thousand legitimate online stores to promote fake product listings for hard-to-find items. Unsuspecting users clicking on those products are redirected to a network of hundreds of fake web stores that steal their personal details and money without shipping […]