(frankieleon)

Lottery Security Director Accused Of Winning The Lottery Fraudulently

Remember last fall, when lottery officials were trying to locate the mysterious man who bought the winning ticket in the multi-state Hot Lotto game? That situation was strange enough, with the winner or winners trying to remain anonymous and waiting a very long time to come forward. Now the situation has become even weirder, with the lottery’s former security director accused of winning the game fraudulently. [More]

(SarahMcGowen)

SEC Alleges Ex-NFL Player Ran $31M Ponzi Scheme

In football, a cornerback is tasked with defending against pass offenses. It appears one former NFL player wasn’t doing much defending on behalf of investors off the field. Instead, the Securities and Exchange Commission alleges former New York Giants player Will Allen used his big league connections to assist in the operation of a $31 million Ponzi scheme based on making loans to cash-strapped pro athletes. [More]

(Mike Mozart)

Walmart Executive: Chip-And-Signature Credit Cards Not Enough To Protect Consumers

The long-awaited move from traditional magnetic stripe credit cards to cards equipped with computer chips has been touted as a safer, more secure method of payment for consumers. But a top executives at the country’s largest retailers says all the hype surrounding the new cards will likely be a security letdown without the use of PIN requirements. [More]

A notario público courts customers on the side of a building. This example of notario advertising was provided by the American Bar Association's Commission on Immigration.

How ‘Notario’ Fraud Preys On Language Differences & Can Result In Unfair Deportation

While the news is filled with reports of various frauds perpetrated on American consumers, one particularly nasty scam doesn’t make as many headlines because it preys almost exclusively on recent Spanish-speaking immigrants who think they are paying for quality legal advice but instead get someone with nothing more than a notary stamp. [More]

(Mike Mozart)

NFL Linebacker Files $20M Lawsuit Against Bank Of America For Alleged Fraud

When looking to manage one’s money, it wouldn’t be unusual to seek advice from the financial professionals at one of the country’s largest banks. But an NFL linebacker says his decision to rely on Bank of America to manage his finances cost him millions of dollars and led to the closing of his budding restaurant business. [More]

(Krebs on Security)

Card Skimmers Still Found On Bank Lobby Card Readers

Alert Consumerist readers know to check ATM card readers for signs of skimmer attachments, PIN pad capture devices, and video cameras to avoid having ATM skimmer crooks drain your bank account. Yet these nefarious devices aren’t just found on cash machines and payment kiosks: some banks use magnetic card readers to protect ATM access after hours, and these can hold skimmers, too. [More]

(André-Pierre du Plessis)

Fraud Victim’s Impossible Choice: Eat $1,500 In Charges Or Be Banned From PayPal Forever

When a customer’s chargeback scheme left one PayPal customer down $1,500 and without the pricey headphones that they had sold, the person who sold the headphones was understandably upset. It’s wrong to rip anyone off, but they’re an individual seller rather than a faceless corporation. PayPal reduced the amount that this person owed to $700, but that was still $700 more than they really owed anyone. What’s a consumer to do? In this case, post to Reddit. [More]

(Great Beyond)

FTC Orders Company That Swindled Tens Of Millions From Seniors To Pay $10M Judgment

We’ve said it too many times to count at this point, but scammers who take advantage of senior citizens are the worst. Today, the Federal Trade Commission made sure there was one less scammer out there by permanently barring the mastermind behind a multi-million dollar fraud from all future telemarketing activities. [More]

(Mav)

IRS Impersonation Scam Is Largest In History, Cost Consumers $15.5M

The 2015 tax season has been fraught with complications, from the fraudulent use of tax returns to the “dirty dozen” scams meant to tear consumers away from their money. During a Senate Finance Committee hearing exploring ways in which consumers could better be protected from such hustles, federal investigators divulged more information about one of the most prevalent tax-time scams in recent years, saying it has now targeted 366,000 taxpayers to the tune of $15.5 million. [More]

(Adam Fagen)

CFPB Returned $19.4M To 92,000 Consumers In The Last Half Of 2014

Each year the Consumer Financial Protection Bureau supervisory examiners hold hundreds of companies accountable for violations of fair lending and debt collection rules. During the last half of 2014, those actions resulted in the return of $19.4 million to more than 92,000 consumers, according to a new report from the agency. [More]

(Adam Fagen)

Report: Stolen Credit Card Information Used By Fraudsters To Make Purchases With Apple Pay

A rash in data breaches at national retailers may have led fraudsters to use Apple Pay to make big-ticket purchases with credit card information stolen during national data breaches. [More]

(Ken Fager)

‘Microsoft Tech Support’ Phone Scammer Threatens To Cut Man Into Little Pieces & Throw Them Into River

We already know that scammers use a variety of unsavory tactics when trying to take advantage of consumers; from impersonating federal agents to threatening jail time. But an alleged fraudster of the so-called “Microsoft Tech Support” scam took things to a decidedly nastier level when his hustle began to unravel. [More]

Consumers Lost $1.7B To Scams In 2014, Imposter Crimes On The Rise

Consumers Lost $1.7B To Scams In 2014, Imposter Crimes On The Rise

For the 15th consecutive year, identity theft topped the Federal Trade Commission’s list of top consumer complaints. But its reign could be coming to an end following a significant increase in the number of scams in which con artists impersonating government agents and law enforcement personnel part consumers from their money.
[More]

Ex-Employees Claim Intuit Let Fraudulent TurboTax Returns Through For The Money

Ex-Employees Claim Intuit Let Fraudulent TurboTax Returns Through For The Money

Are fraudulent tax returns the fault of the IRS, or caused by a weakness in the most popular software programs that consumers use to file their taxes? Former employees of Intuit, maker of TurboTax, allege that the company prevented security staff from flagging and shutting down obviously fraudulent accounts. Why? Market share. Fraudsters were ditching TurboTax and using other tax software when the company flagged their returns. [More]

Visa, MasterCard Working On Security Improvements To Make Data Breaches Suck Less

Visa, MasterCard Working On Security Improvements To Make Data Breaches Suck Less

The data breaches, major and minor, that we’ve seen over the past few years aren’t going anywhere. Payment system and database hacks are, for now, basically inevitable. And that’s why Visa and MasterCard have both announced plans to expand their security features for online shopping. [More]

(Mike Mozart)

FBI Now Investigating Possible Fraudulent Federal Tax Returns From TurboTax

Days after TurboTax resumed e-filing of all state tax returns following a third-party security expert’s finding that fraudulent activity reported by state tax officials did not result from a breach of Intuit’s own systems, federal regulators announced they would take a look for themselves. [More]

(Adam Fagen)

IRS Issues List Of “Dirty Dozen” Scams Taxpayers Should Be On The Lookout For This Year

Each tax season fraudsters manage to separate taxpayers from billions of dollars by using aggressive schemes such as impersonating Internal Revenue Service agents or employing emails and websites designed to gather consumers’ personal information for fraudulent use. This year, the IRS has issued a list of the “Dirty Dozen” scams consumers should guard against. [More]

(Karen Chappell)

Mortgage Relief Pitchmen Settle FTC Charges Of Deceiving Consumers, Collecting Illegal Fees

When seeking to refinance or modify a home loan, consumer advocates urge consumers to seek assistance from professionals that have no financial stake in the outcome. However, that doesn’t appear to be the case for a group of pitchmen who have agreed to settle Federal Trade Commission charges they conned consumers into paying hefty fees for worthless mortgage relief services. [More]