Consumer Scams
No matter what the scam, the cost usually trickles down to the consumer. And the biggest loss is trust.
FEATURED INSIGHTS
Experts predict Artificial Intelligence generated scams will be top concern in 2024. The Identity Theft Resource Center released its 2024 predictions and the number one on the list was AI. From WRTV.
An estimated $28.3 billion is lost to elder fraud scams each year, according to a recent AARP Study. It found that 72% — or more than $20 billion — is taken by individuals who are known to the victims, like family members, friends or advisers. From CBS News.
As Nationwide Fraud Losses Top $10 Billion in 2023, FTC Steps Up Efforts to Protect the Public. Investment scams lead in reported losses at more than $4.6 billion. From the FTC.
Ancient scams to modern threats: How financial fraud costs us $3.7 trillion annually. From Fintech Global.
Feb 15th 2024
Massive utility scam campaign spreads via online ads
The utility scam often works by threatening and scaring victims into making poor decisions. An unpaid bill, or an offer that is too good to be true and must be accepted immediately are some of their tactics. Once you’ve made that phone call, you’re already in their hands and very close to losing a significant amount of money. Read more.
Feb 8th 2024
The Majority Of Scams In The United Kingdom Are Traced To Meta Companies
Research shows that 60% of reported UK scams originated from just three platforms. Facebook, Instagram, and WhatsApp. The two most common types were Investment Scams, where individuals are promised “get-rich-quick” opportunities in exchange for “investing” large amounts of money, and Purchase Scams where people are conned into buying items that don’t exist or aren’t as advertised. Read More.
Jan 29 2024
‘Mother of All Data Breaches’
26 Billion Records Leaked, Users of LinkedIn, X, Venmo And More Panic Over Increased Cybercrime Risk. Read More.
Jan 23rd 2024
AI Will Make Scam Emails Look Genuine, UK Cybersecurity Agency Warns
The NCSC, part of the GCHQ spy agency, said in its latest assessment of AI’s impact on the cyber threats facing the UK that AI would “almost certainly” increase the volume of cyber-attacks and heighten their impact over the next two years.
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