Financial Fraud Prevention

The Federal Trade Commission (FTC) has seen an alarming rise in gamified job scams over the past year. The FTC says that reports of job scams have quadrupled each year since 2022 topping out at 20,000 reports at a cost of $41 million in total during the first six months of the year.

Former cryptocurrency leader Alex Mashinsky has pleaded guilty to two fraud charges. The founder and CEO of Celsius Network was indicted on seven criminal counts in 2023, including charges of fraud, conspiracy and market manipulation. He entered a not guilty plea at the time, but in a hearing today, Mashinsky pled guilty to two of those original counts.

The Federal Trade Commission (FTC) can now go after scammers posing as tech support providers even if it's the consumer who called them up.

Meta is making progress in its fight against pig butchering scams. In an update, the company said it has taken down more than 2 million accounts associated with such scams this year and that its effort to work with other companies to take down fraudsters has had some success.

One of the Gemini AI-powered features Google introduced at I/O this year was a solution for never-ending scam calls. It has the capability to detect whether a call is suspicious while it's still ongoing and can alert you so that you could drop the call as soon as possible.

Think about your digital footprint. How many accounts have you created online since you first started using the internet? How many of those use the same passwords, so you have an easier time logging in? It’s a habit we’ve all fallen into, but it greatly weakens our ability to stay secure online. Just one password leak can compromise dozens of accounts.

Lyft has agreed to to tell its drivers how much they can truly earn on the ride-hailing platform — and back it up with evidence — as part of its settlement for a lawsuit filed by the US Justice Department and the Federal Trade Commission.

A 25-year-old Alabama man has been arrested by the FBI for his alleged role in the takeover of the Securities and Exchange Commission's X account earlier this year.

Another breach of a huge financial institution has leaked the personal information of thousands of customers to the public. TechCrunch reported that an unidentified hacker obtained 77,009 customers’ personal data from the asset management firm Fidelity Investments.

Comcast is warning that hackers stole the personal data of more than 230,000 customers during a ransomware attack on a third-party debt collector, according to a court filing. The bad actors targeted a Pennsylvania-based debt collection agency called Financial Business and Consumer Solutions (FBCS.)