All articles tagged with #scam victims
Two MoonPay executives reportedly lost $250,000 worth of Ethereum in a scam involving a fake donation to Trump's inauguration, highlighting that even crypto industry insiders can fall victim to scams. The DOJ investigation suggests the scammer used a fake email impersonating a Trump Inaugural Committee member, and the funds were potentially laundered through multiple crypto addresses.
New York Attorney General Letitia James has filed a lawsuit against Citibank, alleging that the bank's poor online security practices have contributed to scammers stealing millions from customers. The lawsuit claims that Citibank has illegally refused to reimburse fraud victims, leading to devastating financial losses for many. Citibank defended its security and refund practices, stating that it closely follows all laws and regulations related to wire transfers and works to prevent threats. The lawsuit seeks a permanent injunction against Citibank, an accounting of customer losses, payment of restitution and damages to harmed consumers, and civil penalties.
The demand for limited-edition Stanley drinking tumblers has led to soaring prices and an increase in scammers targeting buyers. Shoppers are eagerly seeking out these collectibles, but many are falling victim to fraudulent ads and websites offering discounted prices. As the frenzy continues, experts advise consumers to only purchase from trusted sellers and to be cautious of copycat websites and social media ads that seem too good to be true.
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.
Thai police have charged a man with premeditated murder after he allegedly killed his wife and two young sons before attempting suicide, following a loan scam that left the family in significant debt. At least 11 individuals are suspected to be involved in the scam, which targeted the man's wife and resulted in the loss of over 1.7 million baht ($48,000). Thailand has been grappling with a surge in cybercrime and scam cases, with the police receiving over 200,000 online scam reports in 2022 alone. Criminal gangs have forced hundreds of thousands of people in Southeast Asia into participating in unlawful online scams, according to a recent UN report. In response, Thailand enacted a new law allowing banks to freeze suspicious accounts for 72 hours without requiring victims to submit a police report.