PYMNTS

DECEMBER 17, 2020

Earlier this month, the Federal Trade Commission and the Better Business Bureau both issued alerts warning people to watch out for phony messages alluding to access to a vaccine. Anybody who calls, emails or text messages you asking for money, asking for gift cards, asking for wire transfers – that is a scam,” he noted.

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PYMNTS

MARCH 2, 2018

But when seniors do become financial victims, they typically take a bigger hit than millennials do, the Federal Trade Commission (FTC) said in a press release. When it comes to payments, fraud reports show that wire transfers were the most common way victims sent money to scammers.

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Scams Identity Theft FTC Federal Trade Commission 55

PYMNTS

FEBRUARY 12, 2019

The Federal Trade Commission released a warning on Tuesday (Feb. They will generally request the money be sent by wire transfer or gift card. 12) about potential “romance scams,” which cost victims a collective $143 million last year. The scammers work on dating apps and on social media.

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Romance Scams FTC Scams Federal Trade Commission 53

FICO

JULY 7, 2020

In one recent example, a criminal impersonated the leader of a UK-based energy firm using voice-generating AI software to convince a chief executive to wire $243K. For example, this could be a message from your “boss” that says if you don’t wire funds to a client in the next hour, an important account will be lost. every month.

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PYMNTS

AUGUST 12, 2020

The enforcement action alleged Vietnam residents Thu Phan Dinh, Tran Khanh and Nguyen Duy Toan engaged in wire fraud to profit from the pandemic. Department of Justice (DOJ) obtained a temporary restraining order to close hundreds of websites that purported to sell products that became scarce during the pandemic, according to a press release.

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Law Enforcement Federal Trade Commission Financial Crimes Scams 52

PYMNTS

JANUARY 25, 2019

Victims can end up wiring money to the scammers as a result.”. Indeed, the Journal relates an anecdote about bank employees in Connecticut who were asked by a customer “in her late ‘70s” to “wire $30,000 to her grandson. All of this is said without providing too many details. Bank Defense.

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Scams Federal Trade Commission Treasury Fraud Prevention 74

PYMNTS

DECEMBER 29, 2016

The Federal Trade Commission is warning that scammers have been setting their sights on attorneys, accountants, doctors and other holders of state licenses or certifications. With some of the scams, they insist money is wired over by the close of business, while others demand the victim give a credit card number on the spot.

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PYMNTS

NOVEMBER 8, 2018

The Federal Trade Commission (FTC) said on Thursday (Nov. According to the FTC , the company violated the settlement struck in 2012 that stemmed from charges that the company had aided and abetted wire fraud.

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FTC Settlement Federal Trade Commission Fraud Prevention 64

PYMNTS

FEBRUARY 6, 2019

There are also fees linked to paying card bills via wire transfer, and fees if the fleet cards go unused. Yet, reports said there have been 366 complaints filed with the Federal Trade Commission (FTC) against FLEETCOR since 2014. 10-per-gallon or $2-per-transaction fee noted as an account administration charge.

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Payroll Commercial Card Federal Trade Commission Wire Transfer 66

PYMNTS

JUNE 20, 2018

This past week saw the Federal Trade Commission (FTC) announce a new law enforcement initiative that focuses on bad actors who seek to commit crimes against small businesses. The arrests were international in scope, and come as part as the FBI’s Operation Wire Wire, which is designed to pinpoint those scams.

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Scams Phishing Federal Trade Commission Wire 45

PYMNTS

JULY 5, 2018

As reported by TwinCities.com , the Better Business Bureau (BBB) and Federal Trade Commission surveyed 1,200 small firms across the nation. That comes as redress as Candace Rispoli pleaded guilty to $800,000 in wire fraud, tied to embezzlement in a scheme that stretched back to 2012.

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Innovative Payments Association

JUNE 26, 2024

Fake Check Scams: Fraudsters send fake checks to seniors, asking them to deposit the check and wire back a portion of the funds, leaving the senior responsible when the check bounces. What to Do if You're Targeted If you suspect a scam, report it to your bank, local law enforcement, and the Federal Trade Commission.

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Scams Federal Trade Commission Identity Theft Law Enforcement 52

FICO

JULY 28, 2021

Federal Trade Commission received more than 2.2 From my mobile banking app, I can even initiate a wire transfer, which in days past was reserved for making large purchases (like a house) or sending money abroad. increase in volume and a 10.8% increase in dollar value over 2019. Multiple Layers of Protection.

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PYMNTS

DECEMBER 3, 2019

Unwitting participants who are mailed checks or money orders are often told to deposit them, keep portions for themselves and wire the rest elsewhere.

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Scams Federal Trade Commission Credit Cards Addressing 53

PYMNTS

JULY 19, 2019

And, despite reporting on July 12 that the Federal Trade Commission (FTC) had reached an agreement to fine Facebook $5 billion, shares in the social media company were up $3.84 and closed at $204.87. Payroll Fraud Could Cost KeyCorp $90M. PayPal’s Xoom Goes Global and Door-to-Door.

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Payment APIs and Integration Federal Trade Commission FTC PayPal 51

PYMNTS

NOVEMBER 17, 2016

But despite its early status, Credify comes into the market pre-wired for lots of attention — since its founder is both famous and infamous in online lending circles. Lending Club is additionally facing scrutiny from the Securities and Exchange Commission, the Federal Trade Commission and authorities from at least three U.S.

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FICO

JANUARY 19, 2022

As my colleague Matt Cox recently blogged , an enterprise fraud approach delivers a composite view of a customer’s inflow and outflow activity by breaking down traditional silos of credit, debit, deposits and payments (person-to-person, mobile, wire transfers, ACH and more), adding application fraud detection to that view.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52

CB Insights

FEBRUARY 8, 2018

If you work in San Francisco and want to send part of your paycheck back to your family in London, you might have to pay a $25 flat fee for the wire, and additional fees adding up to 7%. Today, trillions of dollars slosh around the world via an antiquated system of slow payments and added fees. The five biggest US banks control $3.7

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PYMNTS

NOVEMBER 12, 2018

The Federal Trade Commission and MoneyGram have agreed to a $125 million penalty to settle a violation by MoneyGram of a six-year-old settlement tied to anti-money laundering (AML) controls. In 2012 the firm was accused of aiding and abetting wire fraud. MoneyGram And The FTC Settle.

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PYMNTS

JANUARY 20, 2017

Wiring money can be the fastest way to send it — directly into the pockets of criminals and scam artists,” said Acting Assistant Attorney General David Bitkower in the report. Justice Department (DoJ) announced the settlement in which Western Union admitted the wrongdoings.

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Federal Trade Commission Money Laundering Settlement Scams 40