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Social Catfish releases report on State of Internet Scams, using FTC and IC3 data, as well as their own survey

  • Losses have increased have at least quadrupled over the last five years, from $2.7 billion to $103 billion
  • Estimate real annual losses to romance scams at $200 billion
  • Massive increase in victims 20 and under
  • Most common apps used were Facebook, Google Hangouts, WhatsApp; Instagram and Plenty of Fish
  • State by state breakdown

DOJ announces nationwide coordinated effort to fight Covid 19 fraud;

  • 371 arrested; losses of $836 million
  • Many, or most, cases involved PPP fraud or unemployment fraud

UK jury finds t wo teenagers guilty of ransomware attacks, hacking; victims in include City of London Police, Nvidia, Rockstar Games, and Uber

FBI identifies crypto accounts containing more than $40 million stolen by North Korea

Australia arrests Chinese man involved in scam that took $100 from US victims in crypto romance scams

Full study here