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Kentucky: Bulgarian who had bitcoin exchange convicted of laundering money for Romanian scam “selling” nonexistent cars; handled at least $4.9 million

BBB study looks closely at online purchasing fraud

  • 64% of all complaints with money losses to BBB Scam Tracker are “online purchases:”
  • 80% of victims in online purchase fraud lost money
  • Victims found scam sellers on:  1. Facebook (30%); 2. Google (28%); 3. specific websites (17%); and 4. Instagram (9%)
  • 54% said online shipment tracking info they got was fake
  • Big increase since the pandemic began
  • #1 complaint was about pets and pet supplies; #2 vehicles and parts
  • Largest number of complaints from those 35-44
  • 68.5% of complaints from women; Asians hit harder

Global State of Scams Study tries to collect worldwide data

  • Looked at data for 31 countries; study has country by country breakdown
  • Nearly all report strong growth in scams
  • Rough estimate is that losses in 2019 were €36 billion ($42.25 billion)

FTC releases annual Do Not Call report for 9/19-9/20

  • Robocalls DOWN
  • Top robocall complaints: 1. Imposters; 2. Car warranties; 3. Lower credit card interest

FinCEN proposes requiring reporting of international transactions of $250, down from current $3000; domestic would not change

Virus benefit theft

Full report here

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