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Dutch group to host Global Online Fraud Summit on November 13; free online registration

FTC releases annual report to Congress on efforts to protect seniors

Lose most money to Romance scams; #2 gov’t imposters; #3 lottery scams

FTC data shows huge increase in scams starting on social media

  • Losses in first half of 2020 nearly equal to all 2019
  • Top losses are goods ordered online but never delivered
  • 94% of scams starting with social media Facebook or Instagram
  • Fivefold increase in pyramid and MLM complaints

Oh no! Paypal announces it will let people buy and sell bitcoin

US indicts six Russian military officers over malware, hacking, ransomware; caused at least $10 billion damage

Virus benefit theft

Tip of the week: How do we know how much fraud there is?

A 2004 FTC fraud survey, based on phone calls, found that only 8.4% of fraud victims ever complained to the BBB or law enforcement. (page ES-6).  Of course this means that over 90% do not.  Some people don’t even realize they’ve been ripped off, others are embarrassed.  Some may not know where to go. 

Full report here

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