June 23, 2017

FBI: Extortion, CEO Fraud Among Top Online Fraud Complaints in 2016

This post was originally published on this siteOnline extortion, tech support scams and phishing attacks that spoof the boss were among the most costly cyber scams reported by consumers and businesses last year, according to new figures from the FBI’s Internet Crime Complaint Center (IC3). The IC3 report released Thursday correctly identifies some of the most prevalent and insidious forms of cybercrimes today, but the total financial losses tied to each crime type also underscore how infrequently victims actually report such crimes to law enforcement. Source: Internet Crime Complaint Center (IC3). For example, the IC3 said it received 17,146 extortion-related […]
July 21, 2022

Massive Losses Define Epidemic of ‘Pig Butchering’

This post was originally published on this siteU.S. state and federal investigators are being inundated with reports from people who’ve lost hundreds of thousands or millions of dollars in connection with a complex investment scam known as “pig butchering,” wherein people are lured by flirtatious strangers online into investing in cryptocurrency trading platforms that eventually seize any funds when victims try to cash out. The term “pig butchering” refers to a time-tested, heavily scripted, and human-intensive process of using fake profiles on dating apps and social media to lure people into investing in elaborate scams. In a more visceral sense, […]