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In 2018, the Consumer Sentinel Network has seen a striking increase in the median dollar amount that people 70 and over are saying they lost to fraud. Digging into the data, we found some common stories with an unusual twist: people 70 and older report mailing huge amounts of cash to people who pretended to be their grandchildren. People 70 and over rarely report to the FTC that they paid a scammer with cash. But for one particular type of fraud...

Phishing scammers have gotten more sophisticated. They still send out mass emails asking consumers for credit card numbers or bank account information. But they’re also targeting small businesses by imitating the look of messages your employees routinely receive. The FTC has new resources to help small businesses address cybersecurity, including the risks posed by phishing. How phishing works When phishing scammers hit small businesses, they...

According to a lawsuit filed by the FTC, an international network of corporations and individuals put consumers through the wringer with false claims about “free” trial offers, followed by unauthorized charges to their accounts. What’s more, the complaint alleges that the defendants used shell companies and straw owners to engage in credit card laundering – the practice of circumventing credit card associations’ fraud-monitoring programs in an...

Whether it’s a spare can of cranberry sauce or an extra turkey platter, thoughtful Thanksgiving hosts make contingency plans for the holiday. This year, if the dinner discussion veers into controversial territory – like the pumpkin pie vs. pecan pie debate – here’s a suggested topic of conversation you can have at the ready. Some people call them “grandparent scams,” but it’s any form of fraud where a scammer impersonates a family member and...

As the only federal agency with a dual mission to protect consumers and promote competition, the FTC is uniquely situated to comment on the future of privacy policymaking in the United States. So we welcomed the opportunity to respond to the Department of Commerce, National Telecommunications and Information Administration (NTIA) Request for Comment on “Developing the Administration’s Approach to Consumer Privacy.” The FTC Staff’s Comment...

Mention the word “ransomware” at a meeting of small business owners and you’ll feel the temperature in the room drop by 20 degrees. A ransomware attack is a chilling prospect that could freeze you out of the files you need to run your business. When FTC staff met with business owners across the country, you cited ransomware as a particular concern. New resources from the FTC can help protect your company from this threat. Ransomware: How it...

It started as one of those “run it up the flagpole” ideas to enlist big-name gymnasts to promote a brand of mosquito repellent just as news stories about the 2016 Brazil Olympics were sounding warnings about the Zika virus. Public relations firm Creaxion Corporation and specialty sports magazine publisher Inside Publications used a variety of digital strategies on behalf of the brand: athlete endorsements, social media posts, “advertorials,” and...

An employee catches up on some work while visiting the local coffee shop. She grabs her Double Mocha to go, but accidentally leaves behind a flash drive with hundreds of Social Security numbers on it. When she returns, the flash drive is gone. Then there’s the staff member who needs to free up file room space. After he tosses a stack of old company bank records into the garbage, a dumpster diver spots the trash and walks away with a windfall. At...

If you run a business that offers people a way to send money to other people, you may want to pay attention to whether your service is catering to fraudsters. It’s an important message because, for many years, money transfers have been a preferred payment method for scammers, who know that they can pick up the cash and disappear. And it’ s a message some companies apparently need to hear twice. Back in 2009, the FTC sued MoneyGram for failing to...

Based on the promoters’ promises, it sounded like a tropical paradise: a luxury enclave called Sanctuary Belize featuring a championship golf course, a new airport with direct flights to the U.S., and a hospital staffed with American doctors. No wonder consumers – many of whom were contemplating retirement – sunk more than $100 million of their savings into lots in what appeared to be a swanky resort development already under construction. But...