As Nationwide Fraud Losses Top $10 Billion in 2023, FTC Steps Up ...
Newly released Federal Trade Commission data show that consumers reported losing more than $10 billion to fraud in 2023, marking the first time that fraud losses have reached that benchmark. This marks a 14% increase over reported losses in 2022.
A record $12.5 billion in online scams were reported to the FBI last ...
Mar 6, 2024 · A record $12.5 billion in losses from online scams were reported to the FBI in 2023, fueled by a surge in cryptocurrency investment fraud, the bureau said in a report released Wednesday.
CFPB Sues JPMorgan Chase, Bank of America, and Wells Fargo for …
Dec 20, 2024 · As a result, bad actors could carry out repeated fraud schemes across multiple institutions before being detected, if they were detected at all. Ignoring red flags that could prevent fraud: Despite receiving hundreds of thousands of fraud complaints, the defendant banks have failed to use this information to prevent further fraud. They also ...
Feds sue Zelle, alleging that nation's biggest banks failed to stop fraud
Dec 20, 2024 · Three Major banks and Zelle rushed to bring a peer-to-peer payment network to market without first ensuring users would be protected against "widespread" fraud, alleges a lawsuit filed on...
Justice Department charges nearly 200 people in $2.7 billion …
Jun 27, 2024 · The Justice Department announced a sweeping series of charges Thursday against nearly 200 people accused of participating in health care fraud schemes with false claims topping $2.7 billion.
CFPB Orders Operator of Cash App to Pay $175 Million and Fix Its ...
Jan 16, 2025 · WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) ordered Block, the operator of the peer-to-peer payments app Cash App, to refund and pay other redress to consumers up to $120 million and pay a penalty of …
Elder fraud tops $3.4 billion as schemes targeting people over 60 …
Apr 30, 2024 · People over the age of 60 in the US reportedly lost more than $3.4 billion in fraud schemes in 2023, a nearly 11% increase from the year before, according to a report from the FBI released...
New FTC Data Show Consumers Reported Losing Nearly $8.8 …
Newly released Federal Trade Commission data shows that consumers reported losing nearly $8.8 billion to fraud in 2022, an increase of more than 30 percent over the previous year. Consumers reported losing more money to investment scams—more than $3.8 billion—than any other category in 2022.
DOJ charges nearly 200 people in $2.7B health care fraud …
Jun 27, 2024 · WASHINGTON (AP) — Nearly 200 people have been charged in a sweeping nationwide crackdown on health care fraud schemes with false claims topping $2.7 billion, the Justice Department said on Thursday.
Seven Charged in Nation’s Largest COVID-19 Tax Credit Scheme
2 days ago · An indictment was unsealed in Central Islip, New York, charging seven individuals with operating a multi-state conspiracy in which they attempted to defraud the United States of more than $600 million by filing more than 8,000 false tax returns claiming COVID-19-related employment tax credits.