JOHNSTON, R.I. (WPRI) — Fraudsters have scammed social media users out of $2.7 billion since 2021, according to a new report from the Federal Trade Commission (FTC). The staggering losses stem from ...

Rachel Witkowski is an award-winning journalist whose 20-year career spans a wide range of topics in finance, government regulation and congressional reporting. Ms. Witkowski has spent the last decade ...

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Disputed transactions, driven by the increasing volume of ...

Scammers on social media craft fake personas and use targeted advertisements to carry out scams. The most common social media fraud involves online shopping, accounting for 44% of reported cases. Fake ...

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. The 159 service was launched in September 2021 by industry ...

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated. (NewsNation) — Americans have lost around $2 ...

The Federal Trade Commission says Americans have lost at least $2.7 billion to social media scams since 2021, with the actual number likely many times larger due to severe under-reporting. A recent ...

Banks and tech firms are coming together in an initiative to share information on fraud to give them visibility of the attacks targeted at customers. The collaboration is part of Stop Scams UK’s ...

Martin Lewis is urging customers to get in touch with your bank if you believe they are the target for a scam. It's hoped the short code 159 is easy to remember and, unlike many long-form numbers, it ...

A fraud warning has been issued as the UK scraps the contactless limit of the £100 mark, which was first introduced back in ...

Scammers have long used various tactics to lure unsuspecting victims and steal their money. However, a new report from the Federal Trade Commission (FTC) has highlighted the true scale of these social ...