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A new kind of identity theft is rising fast in NY: What to know

Date: August 19, 2025

The Democrat & Chronicle highlights a fast-rising form of identity theft in New York: account takeovers. Instead of opening new credit lines, criminals break into existing online accounts—banking, email, or social media—and then pivot to steal money or reset other logins. Recovery can be difficult and time-consuming once a criminal has control. The piece underscores why these attacks are so disruptive: one compromise can cascade across a victim’s digital life. Readers are urged to stay vigilant and strengthen authentication on sensitive accounts to reduce the odds of a successful takeover....

The evolution of payment fraud and how to stay ahead of the evolving threats landscape

Date: July 23, 2025

The article on Visa's website discusses the evolution of payment fraud and how Visa combats it with innovation and technology. It highlights the shift from traditional fraud methods, like counterfeit cards, to more sophisticated digital scams as payment systems evolve. Visa employs advanced technologies such as artificial intelligence and machine learning to detect and prevent fraud in real-time. The company emphasizes the importance of collaboration with financial institutions and merchants to enhance security measures. Additionally, Visa is committed to educating consumers and businesses about fraud prevention, ensuring safer transactions in an increasingly digital world....

US consumer watchdog sues big banks over ‘widespread’ fraud on Zelle payment app

Date: July 23, 2025

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against several major U.S. banks, accusing them of failing to address fraudulent activities on the Zelle payment platform. The CFPB claims that these banks did not implement adequate measures to protect consumers from scams and fraudulent transactions, resulting in significant financial losses for many users. Zelle, a popular digital payment service, is jointly owned by several leading banks. The lawsuit alleges that despite being aware of the vulnerabilities, the banks did not take sufficient action to rectify the issues. The CFPB aims to hold these institutions accountable and seeks remedies to prevent future consumer harm....

Scammers Are Using This Low-Tech Tactic to Access People’s Bank Accounts

Date: July 23, 2025

The article discusses how social engineering tactics are increasingly used in bank account fraud. Criminals manipulate individuals into divulging personal information, such as passwords or account details, by exploiting human psychology rather than hacking systems. Common methods include phishing emails, phone scams, and fake websites that appear legitimate. To protect against these threats, the article advises vigilance and skepticism toward unsolicited communications. It recommends verifying the legitimacy of requests by contacting institutions directly and using multi-factor authentication for added security. Awareness and education are crucial in preventing fraud, as these scams rely heavily on human error and trust....

Navigating the risks: Understanding Zelle scams

Date: July 23, 2025

Business Insider outlines the dangers of Zelle scams, where users are tricked into sending money via the Zelle app, often under false pretenses. Scammers typically create urgency—posing as trusted contacts or claiming suspicious activity—and pressure victims into making instant transfers. Once sent, Zelle payments are usually irreversible, offering no fraud protection for authorized transactions. Common red flags include unexpected requests, impersonation of known contacts, and emotionally manipulative scenarios like emergency pleas. Victims are encouraged to pause, verify the request independently (e.g., via a friend’s known number), and only send money to trusted individuals . Unfortunately, recovering funds is often difficult or impossible once the money is gone....

Survey: More than 1 in 3 Americans have faced a financial scam or fraud in the past year

Date: July 23, 2025

A recent survey by Bankrate highlights the growing concern over financial fraud, with 77% of U.S. adults expressing worry about becoming victims. The survey reveals that credit card fraud is the most common type, affecting 46% of respondents. Other prevalent fraud types include identity theft and debit card fraud. Despite these concerns, only 21% of respondents regularly check their credit reports. The article emphasizes the importance of vigilance, recommending steps such as monitoring financial accounts and using strong passwords. It also notes that younger adults are more likely to fall victim to fraud, underscoring the need for increased awareness and education....

More than 20 people charged in scheme that stole $3M from more than 800 victims, including account holders with Members 1st credit union

Date: July 23, 2025

Members of the Members 1st Federal Credit Union in Pennsylvania have been targeted by a fraud scheme, resulting in stolen funds. The credit union has warned its customers about a scam involving fraudulent text messages that appear to come from the bank. These messages trick recipients into sharing personal account information, which is then used to steal money. The credit union is urging members not to respond to suspicious texts or share sensitive information. They are actively working with law enforcement to investigate the incidents. Members 1st has also assured customers that they will not be held responsible for any unauthorized transactions....

Money Saving Monday: Scammers utilizing fake fraud alerts to get your information

Date: July 23, 2025

The KXLY report highlights a surge in fake fraud alert scams targeting consumers. Scammers send emails or text messages appearing to come from legitimate financial institutions. These messages use official logos, urgent alerts about suspicious activity, and direct users to click emails or call phone numbers. Victims are then tricked into providing personal information, such as account numbers, Social Security numbers, or one-time passcodes. Once scammers have this data, they can access accounts, steal money, or commit identity theft. The article stresses the realism of these alerts, which often sound official, and urges consumers to verify any suspicious messages by contacting their bank directly—never using links or numbers provided in the message....

Boomers are getting scammed for billions online — here’s how to break the cycle

Date: July 23, 2025

The article discusses the growing issue of financial scams targeting the elderly, resulting in significant monetary losses. Elderly individuals are often targeted due to factors like isolation, cognitive decline, and unfamiliarity with technology. These scams can take various forms, including phishing emails, phone scams, and fraudulent investment schemes. The financial impact is severe, with many losing their savings and financial security. The article emphasizes the importance of educating seniors and their families about potential scams and implementing stronger protective measures. It also calls for better regulatory actions and community support to safeguard the elderly from such financial exploitation....

FBI Recognizes Elder Abuse Awareness Day and Warns Americans About Elder Fraud

Date: July 23, 2025

The FBI's Cleveland Field Office highlights World Elder Abuse Awareness Day, emphasizing the growing issue of elder fraud. Elder fraud involves scams targeting older adults, often resulting in significant financial losses. Common schemes include romance scams, lottery scams, and tech support fraud. The FBI urges the public to remain vigilant and report any suspicious activities. They stress the importance of educating elders and their families about these scams to prevent victimization. Additionally, the FBI collaborates with various organizations to combat elder fraud and provide resources for victims. Awareness and proactive measures are crucial in protecting the elderly from fraud....

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