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Friday, April 28, 2023

UK victims of cell phone theft angry with police; claim that even when they have tracked the location of the stolen phone police don’t act

 FBI’s Internet Crime Complaint Center releases elder fraud data for 2022

  • Losses reported nearly double, up 64%
  • Investment losses involving crypto up 300%
  • Victims sending money with crypto overall up 350%
  • Tech support fraud most common; twice the number of complaints as the next most common; doubled last year
  • But for money lost crypto investment fraud tops the list
  • Government impersonation nearly doubled
  • Also has state by state breakdowns
 


Thailand busts operation that called older people in the US, claimed to be law enforcement, that there was a problem with their bank and they needed to wire money to keep it “safe;” 21 arrested, from India and Thailand; $87 million lost to group
 
Australia releases 2020 fraud statistics
  • Reported losses went up from $176 million in 2020 to $569 million in 2022
  • Most common way for initial victim contact was text message
  • Investment fraud far and away the top source of losses
  • Older victims 65+ had most complaints and losses
  • Total fraud losses $3 billion
FBI warns of scammers calling Chinese speakers and claiming to be with the Chinese government, accusing the victim of fraud, and threatening to arrest or repatriate them; often use spoofed numbers of Chinese consulate  (link repaired)
 
Global Anti-Scam Alliance releases ten recommendations to fight online fraud worldwide
 
Much of what the public believes about fraud is simply and demonstrably wrong.  From victim blaming, to thinking that fraud is rare, to the implicit thought that only dumb people fall for frauds and that they are easily avoided, many people are simply mistaken, and of course that affects  how fraud stories are reported and how consumer education is written.  The Fraud Report is thrilled that retired Psychology professor and fraud expert Anthony Pratkanis has agreed to work on a fraud myth of the week. 
 
Myth 1:  Fraud victims, especially older ones, tend to be lonely with few social contacts.  In 1996, an AARP survey of older victims found just the opposite: Older fraud victims had extensive social networks and engaged in social and community activities the same or surpassing non-victims. Later studies confirmed these results and also revealed that con grifters will tailor their scam and pitch to fit the victim.  As the UK Office of Fair Trading described the results of their 2006 survey:  “Our research dispels the myth that only the vulnerable, elderly or naïve are taken in by scams. Anyone can be taken in because scams are customised to fit the profile of the people being targeted. There really is a scam for everyone.”

However, it should also be noted that fraud criminals will attempt to isolate a victim – for example, by creating false urgency in a grandparent scam, driving a wedge between the victim and family & friends, making an investment tip secret, attacking those who might intervene, urging the victim to hide their “romance,” creating a cohesive, but isolated network through seminars, social media, and derogating those who disagree as in MLM scams, plus other such tactics.  
 
 
Fraud Studies: Here are links to the studies I’ve written for the Better Business Bureau: puppy fraud, romance fraud; BEC fraud, sweepstakes/lottery fraud,  tech support fraud, romance fraud money mules, crooked movers, government imposters, online vehicle sale scams, rental fraud, gift cards,  free trial offer frauds,  job scams,  online shopping fraud, and crypto scams
 
Fraud News Around the worldHumor                                                                               FTC and CFPB  Virus Benefit Theft Business Email compromise fraud RansomwareData Breaches 
 
Bitcoin and cryptocurrencyATM SkimmingJamaica and Lottery FraudRomance Fraud and Sextortion
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