Wednesday, May 10, 2023

14 indicted for international scam that debited bank accounts for millions; claimed charges were for things like cloud-computing

 Opinion | Poynter Report special edition: The Pulitzer Prizes A big day for journalism turns into a huge celebration of local news. Plus, well-deserved awards for coverage of the war in Ukraine.

When John Archibald started looking into a tip about local policing, he had no idea it would eventually lead to him sharing a Pulitzer with his son.

The columnist had just returned from a journalism fellowship and was questioning the worth of opinion pieces. All he wanted to do was write straight news. The opportunity to do that came when someone suggested he look into Brookside, a tiny town just north of Birmingham, Alabama. Archibald started digging and found that half the town’s revenue came from fines and forfeitures.

Among this year’s Pulitzer winners, a father and son from Alabama

Top Stories

Texas: Chinese man arrested for ID theft; got information from driver’s licenses on the dark web and used those to get new licenses and then as basis for credit cards; got 1273 licenses; part of organized crime group
McAfee survey in India finds that 47% have experienced scams that use AI voices or know someone who has
Europol takes down international dark web marketplace selling drugs; arrest 288; nine countries involved

UK approves major anti-fraud push; allocates £400 million; 400 new investigators; new fraud center
Los Angeles: 14 indicted for international scam that debited bank accounts for millions; claimed charges were for things like cloud-computing
Myth #3:  Fraud victims are primarily older people. By Anthony Pratkanis.  A 2022 report by the FTC using its Consumer Sentinel data, the most comprehensive US database for reported fraud, finds just the oppositeyounger people (below the age of 60) are more likely than older adults to be victims of a fraud crime.  Similar results have been obtained for over two decades in both the US and the UK.  

With a nest egg of a lifetime of savings, older people do lose more money overall to fraud than younger people.  And sadly, they are also targeted when they experience cognitive decline.  Younger people tend to be targeted for their labor (fake job offerings; work at home schemes; multi-level marketing), in their life circumstances (romance fraud), and on social media (online shopping fraud).  However, when they have savings, younger people can quickly find themselves targets for bigger losses, especially in investment fraud.  A 2021 FTC study found that younger investors in cryptocurrency were over five times more likely to report losing money to cryptocurrency investment fraud than older consumers.

One problem with thinking that fraud only occurs against older victims is that it may encourage younger people to believe that it can't happen to them, and, thus, they need not pay attention to consumer education on fraud and that they can easily detect fraud (because they believe that only those who are slipping mentally are victims).

Fraud Studies: Here are links to the studies I’ve written for the Better Business Bureau: puppy fraudromance fraud; BEC fraudsweepstakes/lottery fraud,  tech support fraudromance fraud money mulescrooked movers, government impostersonline vehicle sale scamsrental fraud, gift cards,  free trial offer frauds,  job scams,  online shopping fraud,  fake check fraudand crypto scams
Fraud News Around the world
  Humor                                                                      FTC and CFPB  Virus Benefit Theft Social mediaBusiness Email compromise fraud RansomwareData Breaches Bitcoin and cryptocurrencyATM SkimmingJamaica and Lottery FraudRomance Fraud and Sextortion