AFP busts business that allegedly washed $1bn for 1.2k tax evaders
The ongoing investigation is part of the ATO-led Serious Financial Crime Taskforce’s crackdown on false invoicing schemes
- These were nearly half of all fraud reported to the FTC, and have jumped five-fold since 2020
- Losses of $1.1 billion in 2023
- Initial contacts by phone are down; emails and texts are up
- Scammers claim to be:
- Security alerts, phony subscription renewals, fake law enforcement, supposed delivery problems; phony giveaways
- Money sent through bank to bank transfers and bitcoin
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, fake check fraud and crypto scams
Fraud News Around the world
- Oakland: Man pleads guilty to sales of $3.5 million in counterfeit electronics to the military
- Singapore: Nine under investigation for tech support fraud where they pretended to be Microsoft or Apple support
- Nigeria: EFCC arrests 74 for internet fraud
- FTC issues new alert on scammers who claim to have buyers for your timeshare
- Amsterdam: Six arrested for scam calls impersonating bank employees; authorities seize list of 7 million email addresses
- Connecticut: Two from Peru arrested and charged; flew into the US and stole wallets and purses
- Nebraska: Woman gets 151 months in prison for ID theft used to take money from victim bank accounts
- Georgia: Man arrested for home rental fraud; he advertised on Facebook Marketplace
- Retired FBI agent and his accomplice get six years prison for impersonation scheme where they told victim she was on “secret probation” and had to pay their expenses; two got nearly $800,000
- Survey/study of scams hitting Sweden; Facebook contact most likely; biggest fraud is online shopping, followed by ID theft; 80% did not report the scam
- Toronto: Woman arrested for apartment rental fraud
- UK seeing increase in hacking social media accounts for scams, says Which?
- Thief admits stealing gold-plated toilet from Blenheim palace that was worth £4.8 million
- Nine year old in California leads cops on chase while driving himself to school
- FTC sends $2.8 million in refunds to victims of online crypto money making venture that promised income from Amazon, WalMart
- CFPB issues annual report on consumer complaints it receives; most about credit reporting agencies
- FTC sending $82 million to victims of online real estate company Opendoor Labs
- John Stewart claims Apple asked him not to interview FTC chair Lina Khan
- WSJ: Financial industry worried about AI calls impersonating clients
- Google used AI to block 5.5 billion ads last year
- Denver: Man indicted for PPP and EIDL fraud; got $1.7 million
- Utah: Man charged with PPP fraud; got $422,000
- Kansas City: Man pleads guilty to PPP fraud; got $12.4 million
- North Carolina: Woman pleads guilty to PPP fraud; got $120,000
- New Jersey AG takes action against 20 in effort to deal with theft of unemployment benefits
- 16 from India rescued from scam call center in Laos
- India developing strategy to rescue 5000 Indians being held by scam centers in Cambodia
- How job seekers in India are lured to scam call centers in Cambodia
- More than 800 arrested in Myanmar scam centers in joint effort with China
- New McAfee study says one in four have lost money to online tax scams
- Kansas City: Russian man gets 15 years prison for stolen identity refund fraud; sought $11 million
- IRS warns of scams advertising that they can easily settle tax debts
- Attack on City of Pensacola, Florida
- Hits North Carolina baking company
- Disrupts systems of county government for Kansas City, MO; announces emergency