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Imposter Scams

All articles tagged with #imposter scams

technology2 years ago•2 min saved

Zelle succumbs to pressure, starts refunding scam victims

Zelle, the payments app, has started refunding users who were targeted by scammers after years of refusing to do so. Zelle's network operator, Early Warning Services (EWS), implemented a mechanism that allows banks to claw back funds from the recipient's account and return them to the sender, sparing financial partners from reimbursing potentially billions of dollars stolen by imposter scammers. The change goes beyond legal requirements and aims to protect users from imposter scams, which have become the most-reported scam across all payment methods. While Zelle's recent changes have satisfied regulators so far, Senator Elizabeth Warren urges continued monitoring to protect consumers from bad actors.

via Ars Technica|

#financial-fraud #imposter-scams #refunds

finance2 years ago•4 min saved

Zelle Implements Imposter Scam Refunds Amid Washington's Influence

Banks on the payment app Zelle have started refunding victims of imposter scams, reversing transfers for customers who were tricked into sending money to scammers claiming to be from a government agency or bank. The move comes after pressure from U.S. lawmakers and the federal consumer watchdog. Zelle, owned by seven banks including JPMorgan Chase and Bank of America, previously argued against refunding transfers that customers were tricked into approving. The new policy marks a major shift and aims to address concerns raised by lawmakers and protect consumers from fraud.

via Reuters|

#consumer-protection #finance #fraud

consumer-protection2 years ago•3 min saved

Protect Yourself from IRS Imposter Scams During Tax Season

Scammers impersonating the IRS over the phone, email, texts, and more have caused more than 75,000 victims to lose $28 million since 2018. The IRS will never contact taxpayers first via email or telephone, but will always contact them in writing a letter. Taxpayers can always question or appeal what they owe, and caller ID can be faked. Scammers often use aggressive and threatening tactics, but are also evolving to lure people with promises of a tax refund or rebate. Consumers who are victims of imposter scams can report them to the IRS or to the FTC.

via NPR|

#consumer-protection #imposter-scams #irs

technology2 years ago•4 min saved

TikTok User Exposes Scam Caller Holding Sister Hostage.

A TikTok user shared her experience of receiving a call from a scammer who pretended to hold her sister hostage. The scammer demanded ransom money and threatened the user not to call the police. The user sent the money but later found out that her sister was safe. The Federal Trade Commission (FTC) received 2.4 million fraud reports in 2022, most of which were imposter scams. The FTC advises people not to trust the voice and to verify the story by calling the person who supposedly contacted them.

via BuzzFeed|

#ftc #imposter-scams #phone-scams