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MoneyGram To Settle With FTC For $125M

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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. This announcement came separately on Thursday. and Canada. “The

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FTC: Romance Scammers Swindled $143M From Consumers In 2018

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The FTC said these particular types of scams cost people more than any other type of swindling, and that they’re expected to become more common. They will generally request the money be sent by wire transfer or gift card. The scam is effective, and last year the FTC said people lost a median of $2,600 from the scams.

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FTC: FLEETCOR Billed Clients Hidden Charges

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The FTC said in its complaint that FLEETCOR had marketed payment cards to firms with vehicle fleets, noting that they would save money, that there were no transaction or membership fees, and there would be controls for fraud. There are also fees if the fleet cards go unused and fees connected to paying card bills via wire transfer.

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Uber Under Investigaton By FTC

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Such is life over at ridesharing firm Uber these days, which can now add to the list of its recent woes news of an FTC investigation for alleged privacy violations by the recently under siege carsharing company. Google settled with the FTC in 2012 for undisclosed data tracking in the Safari web browser for $22.5

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FTC Says Scammers Targeting Attorneys, Doctors, Other License Holders

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According to an FTC alert , scammers are creating official-looking fake emails alerting recipients that their licenses will be suspended unless they pay past due fees. 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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Investec: What FIs Must Know About Open Banking And Gaining Consumer Trust

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Fraudsters have deployed a wide variety of methods when conducting these attacks, with 64 percent of banks seeing an increase in wire fraud transfers and 82 percent reporting increased instances of social engineering attacks. There were also nine times more ransomware attacks within the same time frame.

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Millenials Lose More Money To Scams Than Seniors

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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. Overall, the FTC is seeing that consumers are losing more money due to fraud in 2017 than 2016. In all, 70 percent of consumers say that fraudsters reached out to them by phone.

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