Cyber-Security Experts Warn Election Was Hacked
A fraud by any other name: Scammers building relationships onlie and then encouraging victims to put money into a crypto account, where it supposedly appreciates but can never be withdrawn, may be the most common fraud in the world right now.
Scammers call it pig butchering, and some enforcement agencies have followed suit. But now Interpol urges use of “romance baiting”instead. The Fraud Report will continue to use the term crypto romance fraud. What do you think?
Nigeria arrests 792 for crypto romance fraud; many were from China
Consumer Reports: Scams impersonating banks are becoming increasingly common, and how they work
CBS: Gift card fraud operated in the US by Chinese gangs; use proceeds to fund fentanyl smuggling
FTC adopts final Junk Fee Rule, requiring hotels and live event tickets to disclose actual final price before getting consent to purchase; should end resort fees and all mandatory charges up-front; must include price of taxes or shipping and handling
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
- Canada: Police arrest man in grandparent scam who went to victim’s home in Quebec to pick up funds
- New Jersey:Three Nigerian men indicted for investment fraud where they called impersonating FINRA licensed financial advisors
- UK: London police seize £2 million in counterfeit goods
- DOJ takes down dark web marketplace Rydox selling PII and other illegal goods; three indicted, including two in Kosovo who will be extradited
- Buffalo: Importer from Ontario gets two years prison for bringing in $4.8 million in counterfeit goods
- Miami: Head of telemarketing operation that called offering genetic testing and billing US government gets 15 years prison; took in $67 million
- India arrests 15 from gang that called impersonating police and threatened arrest; got account information and converted it to crypto
- Chicago customs seizes $81.5 in counterfeit vaping equipment
- Three get prison for online pyramid scheme that took in $23 million
- Los Angeles: Ventura, California doctor gets two years prison for hospice fraud; got $3 million
- Massachusetts: Police arrest two in apparent grandparent fraud
- Santa and Grinch street performers arrested after fighting over tips
- Woman convinced that her Christmas tree was stolen had actually driven over it and dragged it into her garage
- UK pubs running out of Guinness in national shortage
- Man arrested over multi-vehicle crash tells police he’s a “professional drinker”
- Current FTC Commissioner Ferguson nominated to become chair; Mark Meador nominated to become a Commissioner, which would give Republicans majority
- CFPB tries to limit/regulate overdraft fees by banks
- FTC and Illinois AG settle with Grubhub over deceptive earnings claims and other issues; to pay $25 million
Virus Benefit Theft
- New York: Footware maker settles civil case over PPP loan; to repay $1.5 million
- Chicago: Man indicted for PPP fraud; got $6.3 million
- Michigan: Jury convicts business man of PPP fraud
- St. Louis: Man gets 15 months prison for PPP fraud; got $41,000
- Boston: Two county jail guards arrested for PPP fraud
- North Carolina: Former member of Harlem Globetrotters gets 84 months prison for PPP fraud; got $3 million
- Missouri: Man gets two years prison for PPP fraud; got $8.1 million
- India has rescued 1167 from Cambodia and 497 from Myanmar
- Six more from India rescued from scam center in Myanmar
- An inside look at scam call centers in Laos
- Rhode Island: Man indicted for BEC fraud on Bristol, Rhode Island; had hacked victim email system; got $9 million
- Omaha: Nigerian man extradited from Ghana for BEC fraud
- Australia: Man gets 18 months prison for laundering money from BEC frauds; handled $208,000
- California: Man gets 27 months prison for stolen identity refund fraud; got $870,000
- Maryland: Woman indicted for claiming and getting tax refunds she was not owed
- New crypto scam uses influencers on Telegram to infect users with malware and then steal wallet information
- Nigeria arrests man on arrival by air from US over crypto investment fraud against Australians
- Brooklyn DA shuts down 40 websites in scam that told artists they could make money from NFT’s; claimed had made money but had to pay fees to access money they earned; operated from Nigeria
- Attack on county school system in Tennessee
- Hits Rhode Island food stamp program; lose PII on hundreds of thousands
- Krispy Kreme has cyber security “incident,” suspected ransomware attack
- New study finds romance frauds most common from Nigeria; with Ghana, South Africa and West Africa total 50%; Malaysia also often involved
- California: DA arrests two Chinese men for crypto romance fraud
- New Jersey: Nigerian man who was an official in Black Axe gang extradited from South Africa; charged with romance and other frauds
- North Dakota: Two Nigerian men get prison for laundering romance fraud money; one gets 25 months prison, other 10 months; kept some money and sent the rest to Nigeria