UK Government: Social and Psychological Implications of Fraud – 2024

UK Government: Social and Psychological Implications of Fraud

Psychology of Scams

Authors:
• UK Parliament – Government of the United Kingdom
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

About This Article

Fraud poses a significant threat to the UK, with 4 in 10 offences targeting individuals. The government’s 2023 Fraud Strategy aims to combat this, emphasizing victim support and prevention.

While stereotypes of elderly victims persist, fraud risks vary due to psychological and social factors. Beyond financial loss, fraud inflicts emotional and psychological harm.

Victims often report fraud to banks rather than authorities. Effective prevention strategies involve education and enhanced victim care. This POSTnote underscores the multifaceted nature of fraud and the need for comprehensive, collaborative approaches to mitigate its impact on individuals in England and Wales.

New Privacy Bill In Congress Offers Real Privacy Rights To Everyone – 2024

New Privacy Bill In Congress Offers Real Privacy Rights To Everyone

Congress appears ready for Comprehensive Privacy Legislation covering all American Businesses (except Small Businesses)

Policy & Regulations

Author:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

About This Article

The New Bipartisan Privacy Legislation in the U.S., the American Privacy Rights Act, backed by key lawmakers, including Senator Maria Cantwell and Representative Cathy McMorris Rodgers, introduces substantial cybersecurity mandates affecting various sectors of the economy.

Cantwell’s support marks a departure from previous failed attempts at comprehensive privacy laws, emphasizing the need to make privacy a consumer right.

Amid growing concerns over surveillance capitalism and state-level privacy regulations, the bill mandates corporations to uphold reasonable data security practices, encompassing confidentiality, integrity, and accessibility. It outlines cybersecurity measures like vulnerability assessments and bug reporting while granting consumers rights to access, correction, and opt-out of targeted advertising.

SCARS Editorial Team2024-04-11T20:29:01-04:00April 11th, 2024|Categories: • GOVERNMENT / REGULATORY, 2024, ARTICLE, SCARS Editorial Team, USA|Tags: American Privacy Rights Act, Congress, New Law, Privacy|

INTERPOL Financial Fraud Report: The Global Threat Expands Boosted By Technology – 2024

INTERPOL Financial Fraud Report: The Global Threat Expands Boosted By Technology

Organized Crime Groups using more Human Trafficking Victims to carry out Crypto-Investment (‘pig-butchering’) and other Scams

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• INTERPOL

About This Article

The recent INTERPOL assessment on global financial fraud underscores the growing threat posed by technology-enabled organized crime groups targeting victims worldwide.

Utilizing tools like Artificial Intelligence (AI), large language models, and cryptocurrencies, these groups orchestrate sophisticated fraud campaigns with minimal technical skills and at low costs. Secretary General Jürgen Stock warns of the epidemic scale of financial fraud, emphasizing the need for urgent action and enhanced information sharing.

The report reveals prevalent fraud trends such as investment fraud and romance fraud, necessitating multi-stakeholder partnerships to develop effective counter strategies. With financial fraud increasingly perpetrated by transnational networks, law enforcement faces the challenge of strengthening data collection and analysis to Read More …

SCARS Editorial Team2024-04-11T07:54:11-04:00April 11th, 2024|Categories: • CRIMINOLOGY, • GOVERNMENT / REGULATORY, 2024, ARTICLE, INTERPOL, SCARS Editorial Team, WORLDWIDE|Tags: Financial Fraud, INTERPOL, Scams, Threat Expands|

Meta Platforms (Facebook & Instagram) Caught Lying About The Number of Real Users To Advertisers 2024

Meta Platforms (Facebook & Instagram) Caught Lying About The Number of Real Users To Advertisers

Courts Rule They Can Be Sued for Misrepresentation (a.k.a. Fraud)

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• By Jonathan Stempel, Reuters

About This Article

The 9th U.S. Circuit Court of Appeals ruled in a 2-1 decision that Meta Platforms, owner of Facebook and Instagram, must face a class-action lawsuit filed by advertisers. The lawsuit alleges Meta overcharged advertisers by fraudulently inflating the potential reach of their ads, using metrics based on social media accounts rather than actual people, leading to potential viewer overestimations of up to 400%.

While the court allowed advertisers to sue for damages as a group, it decertified a separate class seeking injunctive relief. Advertisers estimate Meta may owe over $7 billion in damages. Meta, with ads generating most of its revenue, has yet to comment.

SCARS Editorial Team2024-04-08T17:16:16-04:00April 8th, 2024|Categories: • GOVERNMENT / REGULATORY, 2024, NEWS, Reuters, SCARS Editorial Team|Tags: Advertisers, Class Action, Facebook, Fake Profiles, Fake Users, Fraud, Instagram, Lawsuit, Meta Platforms|

FTC New Impersonation Scams Rule Effective Today – 2024

FTC New Impersonation Scams Rule Effective Today

Government taking action Against Scams!

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• Federal Trade Commission

About This Article

The FTC’s new rule targeting government and business impersonation scams takes effect today, April 1st, 2024, aiming to combat the soaring losses reported by consumers, which surpassed $1.1 billion last year alone.

The rule addresses the most common tactics employed by scammers, such as fake account security alerts and phony subscription renewals, and highlights the rise in text and email-based scams alongside declining phone calls. Notably, bank transfers and cryptocurrency payments have become the predominant methods used by victims, prompting the FTC to propose stronger measures, including prohibiting the impersonation of individuals and facilitating scams.

China Encourages Armed Offensive Against Myanmar Over Slave Scam Centres – 2024

China Encourages Armed Offensive Against Myanmar Over Slave Scam Centres

At least one country recognizes that the fight against scamming requires military intervention.

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• United Nations Office of Drugs and Crime

About This Article

In response to Myanmar’s failure to address the proliferation of online scams, China lends support to an armed offensive against the military junta in Myanmar.

Named Operation 1027, the offensive was executed by the Three Brotherhood Alliance, severely challenging the Tatmadaw’s control.

China’s dissatisfaction stemmed from the exploitation of Chinese citizens by scam centers in Myanmar. Despite calling for a ceasefire post-operation, China prioritized the handover of scam suspects over pressuring armed groups to cease operations.

SCARS Editorial Team2024-04-01T10:18:42-04:00April 1st, 2024|Categories: • GOVERNMENT / REGULATORY, 2024, ARTICLE, MYANMAR, SCARS Editorial Team, United Nations|Tags: China, Myanmar, PRC, Scam Slave Centres, UN Report|

NACHA Changes Credit-Push ACH Payments Rules To Fight Scams & Fraud – 2024

NACHA Changes ACH Credit-Push Payments Rules To Fight Scams & Fraud

Placing More Responsibility on the Financial Services Sector to Police Scams & Fraud

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• NACHA

About This Article

Nacha members have endorsed rules to combat fraud, including business email compromise (BEC), leveraging credit-push payments. These rules mandate ACH payment monitoring for all network participants (excluding consumers), marking a pivotal shift.

Despite not altering liability, recipient financial institutions (RDFIs) gain a monitoring role for the first time. With BEC scams, vendor impersonation, and payroll fraud causing significant losses, the need for action is urgent.

SCARS Editorial Team2024-03-20T08:29:55-04:00March 20th, 2024|Categories: • GOVERNMENT / REGULATORY, 2024, Additional Authors, ARTICLE, SCARS Editorial Team, USA|Tags: ACH Payments, Fraud, NACHA, Prevention, Scams|

The Global Fraud Summit In The UK – 2024

The 2024 Global Fraud Summit In The UK

Addressing Global Fraud & Cybercrimes

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• UK Home Office

About This Article

The historic Global Fraud Summit, held in the UK on March 10-11, 2024, brought together world leaders, industry experts, and representatives from multiple continents to tackle the growing threat of global fraud.

The summit aimed to foster international collaboration, raise public awareness, and develop strategies to disrupt criminal operations and prevent future scams.

A key outcome was the establishment of a joint communique outlining areas of focus, including information sharing, law enforcement cooperation, public education campaigns, and technological solutions.

This summit signifies a major step towards a more unified global front against fraud.

SCARS Editorial Team2024-03-15T14:57:53-04:00March 15th, 2024|Categories: • ADVOCACY / POLICY, • GOVERNMENT / REGULATORY, 2024, ARTICLE, SCARS Editorial Team, UK Government, WORLDWIDE|Tags: Cybercrime, Fraud, Global Fraud Summit, Government Policy, Scams, UK|

UK Money Mules New Plan Of Action To Disrupt Organized Crime – 2024

UK Money Mules New Plan Of Action

Biggest ever Crackdown on Money Mules in the UK

Efforts to disrupt money mule activity and support exploited victims will be strengthened through a new action plan.

Author:
• Government of the United Kingdom, Home Office
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

About This Article

The Security Minister, Tom Tugendhat, unveiled a comprehensive 22-point action plan aimed at strengthening efforts to combat money mule activity and support exploited victims. With a focus on raising awareness of child financial exploitation and enhancing joint working to identify complicit mules through intelligence sharing, the plan addresses the growing threat posed by these criminal networks.

Money mules, individuals who facilitate the movement of illegally obtained funds for criminals, pose a significant challenge, with Cifas estimating 37,000 bank accounts demonstrating mule behavior in 2023.

SCARS Editorial Team2024-03-03T00:58:37-05:00March 3rd, 2024|Categories: • GOVERNMENT / REGULATORY, 2024, NEWS, SCARS Editorial Team, UK, UK Government|Tags: Government, Money Mules, Organized Crime, Plan of Action, UK|

INTERPOL Warns Of ‘Metacrime’ On The Metaverse – 2024

INTERPOL Warns Of ‘Metacrime’ On The Metaverse

An Insight into Crime of the Future in the Metaverse

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• INTERPOL

About This Article

INTERPOL’s new white paper delves into the emerging challenges of the Metaverse, highlighting the rise of ‘Metacrime.’

From grooming and radicalization to cyber-attacks targeting critical infrastructure and virtual property theft, law enforcement faces multifaceted threats in virtual realms. The paper underscores the complexities of investigating crimes where physical evidence is absent, emphasizing the need for digital forensic expertise. Yet, it also recognizes the potential for law enforcement, including advanced simulation and immersive training.

SCARS Editorial Team2024-02-23T08:30:39-05:00February 23rd, 2024|Categories: INTERPOL, • GOVERNMENT / REGULATORY, 2024, ARTICLE, SCARS Editorial Team|Tags: INTERPOL, Metacrime, Metaverse, Virtual world, Virtualspace, Whitepaper|

New York State Goes After Citibank For Failing To Protect & Refund To Scam Victims – January 2024

New York State Goes After Citibank for Failing to Protect & Refund to Scam Victims

New York State Attorney General Files Lawsuit Against Citibank for Scam Victim

Author:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

About This Article

The New York Attorney General, Letitia James, filed a lawsuit against Citibank for negligence in protecting customers from fraud, alleging that the bank failed to implement strong security measures and improperly denied reimbursement to victims.

Citi’s lax security protocols led to millions of dollars being stolen from customers, with some losing their life savings. Victims reported delayed responses to fraud claims, with Citi often leaving them on lengthy holds, allowing scammers to continue their activities. The lawsuit highlights the importance of robust security measures and swift responses to fraud reports by financial institutions.

SCARS Editorial Team2024-01-30T22:01:15-05:00January 30th, 2024|Categories: • GOVERNMENT / REGULATORY, 2024, NEWS, SCARS Editorial Team, USA|Tags: Citibank, Lawsuit, Money Recovery, Regulatory Action, Scam Victims|

Scam Reimbursement Part 2 – Takeaways from UK Regulatory Actions to Combat APP Scams – 2024

Takeaways from UK Regulatory Actions to Combat APP Scams

Regulatory Actions that Reduce Scam Victim Losses

Author:
• Ken Palla, Retired Director, MUFG Union Bank – Courtesy of BioCatch

Article Abstract

“Global Insights: Learning from UK Regulatory Measures to Combat APP Scams”

Non-UK financial institutions can glean valuable insights from the UK’s regulatory approach to combatting authorized push payment (APP) scams. Beyond the focus on reimbursement, key lessons include the importance of developing standardized scam reporting metrics, implementing controls to prevent scams, and active participation in industry associations for intelligence sharing.

SCARS Editorial Team2024-01-12T05:56:53-05:00January 12th, 2024|Categories: • GOVERNMENT / REGULATORY, 2024, EDITORIAL / COMMENTARY, Ken Palla, UK|Tags: APP Scams, Scam Reimbursement, UK Regulatory Actions|

Scam Reimbursement Part 1 – UK Payment Systems Regulator Final Scam Reimbursement Model – 2024

UK Payment Systems Regulator Final Scam Reimbursement

Implementing Widespread Scam/Fraud Victim Reimbursement in the United Kingdom = A Model for the World!

Author:
• Ken Palla, Retired Director, MUFG Union Bank – Courtesy of BioCatch

Article Abstract

“UK Payment Systems Regulator Sets Precedent with Final Scam Reimbursement Guidelines”

The UK Payment Systems Regulator (PSR) released comprehensive scam reimbursement requirements, effective October 2024, offering a global model.

SCARS Editorial Team2024-01-12T05:53:11-05:00January 12th, 2024|Categories: • GOVERNMENT / REGULATORY, 2024, EDITORIAL / COMMENTARY, Ken Palla, UK|Tags: APP, Authorized Push Payments, Payment Systems Regulator, Scam Reimbursement, Scam Victims, UK, United Kingdom|

FTC: Alexa Data Abuse – 2023

FTC: Alexa Data Abuse

Author:
• Elisa Jillson, U.S. Federal Trade Commission (FTC) – reprinted

Article Abstract

The Federal Trade Commission (FTC) underscores critical violations in Amazon and Ring’s handling of consumers’ private data, voice recordings, and video footage. Amidst AI’s burgeoning presence, the complaints highlight companies’ negligence towards customer privacy, breaching the FTC’s Biometric Policy Statement. Emphasizing the pivotal nexus of AI and privacy, the FTC urges caution in data collection, stressing the need for consumer control.

SCARS Editorial Team2024-01-10T15:01:22-05:00June 21st, 2023|Categories: • GOVERNMENT / REGULATORY, 2023, ARTICLE, U.S. Federal Trade Commission, USA|Tags: Amazon Alexa, Data Abuse, FTC, Privacy|

UK Government: Social and Psychological Implications of Fraud

Psychology of Scams

Authors: • UK Parliament – Government of the United Kingdom • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

About This Article

New Privacy Bill In Congress Offers Real Privacy Rights To Everyone

Congress appears ready for Comprehensive Privacy Legislation covering all American Businesses (except Small Businesses)

Policy & Regulations

Author: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

About This Article

INTERPOL Financial Fraud Report: The Global Threat Expands Boosted By Technology

Organized Crime Groups using more Human Trafficking Victims to carry out Crypto-Investment (‘pig-butchering’) and other Scams

Authors: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • INTERPOL

About This Article

Meta Platforms (Facebook & Instagram) Caught Lying About The Number of Real Users To Advertisers

Courts Rule They Can Be Sued for Misrepresentation (a.k.a. Fraud)

Authors: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • By Jonathan Stempel, Reuters

About This Article

FTC New Impersonation Scams Rule Effective Today

Government taking action Against Scams!

Authors: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • Federal Trade Commission

About This Article

China Encourages Armed Offensive Against Myanmar Over Slave Scam Centres

At least one country recognizes that the fight against scamming requires military intervention.

Authors: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • United Nations Office of Drugs and Crime

About This Article

NACHA Changes ACH Credit-Push Payments Rules To Fight Scams & Fraud

Placing More Responsibility on the Financial Services Sector to Police Scams & Fraud

Authors: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • NACHA

About This Article

The 2024 Global Fraud Summit In The UK

Addressing Global Fraud & Cybercrimes

Authors: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • UK Home Office

About This Article

UK Money Mules New Plan Of Action

Biggest ever Crackdown on Money Mules in the UK

Efforts to disrupt money mule activity and support exploited victims will be strengthened through a new action plan.

Author: • Government of the United Kingdom, Home Office • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

About This Article

INTERPOL Warns Of ‘Metacrime’ On The Metaverse

An Insight into Crime of the Future in the Metaverse

Authors: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc. • INTERPOL

About This Article

New York State Goes After Citibank for Failing to Protect & Refund to Scam Victims

New York State Attorney General Files Lawsuit Against Citibank for Scam Victim

Author: • SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

About This Article

Takeaways from UK Regulatory Actions to Combat APP Scams

Regulatory Actions that Reduce Scam Victim Losses

Author: • Ken Palla, Retired Director, MUFG Union Bank – Courtesy of BioCatch

Article Abstract

UK Payment Systems Regulator Final Scam Reimbursement

Implementing Widespread Scam/Fraud Victim Reimbursement in the United Kingdom = A Model for the World!

Author: • Ken Palla, Retired Director, MUFG Union Bank – Courtesy of BioCatch

Article Abstract

FTC: Alexa Data Abuse

Author: • Elisa Jillson, U.S. Federal Trade Commission (FTC) – reprinted

Article Abstract

Authors:
• UK Parliament – Government of the United Kingdom
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

Author:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• INTERPOL

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• By Jonathan Stempel, Reuters

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• Federal Trade Commission

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• United Nations Office of Drugs and Crime

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• NACHA

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• UK Home Office

Author:
• Government of the United Kingdom, Home Office
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• INTERPOL

Author:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

Author:
• Ken Palla, Retired Director, MUFG Union Bank – Courtesy of BioCatch

Author:
• Ken Palla, Retired Director, MUFG Union Bank – Courtesy of BioCatch

Author:
• Elisa Jillson, U.S. Federal Trade Commission (FTC) – reprinted