Latest news with #MinnesotaDepartmentofCommerce
Yahoo
28-04-2025
- Yahoo
Texting scams becoming more sophisticated: How to recognize them
The Brief The number one impostor scam circulating right now is a ruse to get you to buy gift cards and then turn over the serial numbers. There are many other ways these criminals are trying to get your attention through your cell phone, including convincing artificial intelligence videos. (FOX 9) - If you have a cell phone, you've probably been inundated with spam messages saying you owe money. The methods criminals are using to steal your personal and financial data are becoming more and more sophisticated. What we know A common message circulating right now involves unpaid tolls. The message comes from an unknown sender, and it says that you owe unpaid tolls and if you don't pay you will face penalties or legal action. These messages often come from international numbers or email addresses that are not connected to that state's Department of Transportation. Other common impostor scams include a promise of something like prizes or help to pay for student loans. The sender may even pretend to be a coworker. These scammers ask you to purchase gift cards and send them the serial numbers. Fake invoices and package delivery notifications are also common texting scams that circulate. An AI-generated video has also been making the rounds that looks and sounds just like Kevin Costner. It's been circulating through Facebook, Instagram and WhatsApp. The scammers will even produce documentation to try to convince people it's really him. And this AI video will continue to ask the recipient for money, claiming to be in love with the recipient as well. By the numbers Minnesota ranks 12th in the nation for consumers reporting impostor scams. And the median loss is about $800. "Nowadays, the computer is a weapon. The cell phone is a weapon and that's what they are using," says Boima Freeman, a Senior Financial Fraud Investigator for the Minnesota Department of Commerce. "These are criminals, and they are really good at what they do," adds Jacqueline Olson, the Enforcement Assistant Commissioner for the Minnesota Department of Commerce. What you can do "If they are trying to keep it a secret, and they are telling you to do it fast, everyone should just pause," says Olson. "If someone is on the phone telling you to purchase a gift card, gift cards are only for gifts. The FBI will never ask you or the IRS will never ask you to pay with a gift card," adds Freeman. Look for red flags, the number is not in your contacts, the number is international, the sender starts asking for your bank account number or remote access to your computer. The Federal Trade Commission has more information on how to recognize scams and how to report them here.
Yahoo
29-03-2025
- Automotive
- Yahoo
Tariffs could make cars more expensive, MN Commerce Dept. warns
The Brief The Minnesota Department of Commerce said federal tariffs could raise the price of vehicles. State officials also say tariffs would increase the costs of repairs and insurance claims. Tariffs on car parts from Canada, Mexico and China are expected to take effect in April 2025. ST. PAUL, Minn. (FOX 9) - Impending tariffs are expected to raise the cost of purchasing a vehicle, as well as repairs and insurance premiums, according to officials with the Minnesota Commerce Department. Big picture view A news release from the Minnesota Department of Commerce said tariffs on automotive parts from Canada, Mexico and China are set to go into effect in April 2025. Data from the American Property Casualty Insurance Association (APCIA) shows that nearly 60% of auto replacement parts come from these countries. READ MORE: Trump to unveil tariff plans on April 2: What to know This will also result in higher auto insurance premiums and repair costs, according to factors cited by the Insurance Federation of Minnesota. The APCIA adds that as auto insurance correlates with vehicle prices, insuring a car could become more expensive if insurance companies face higher claim payouts because of increased repair and replacement costs. The Minnesota Department of Commerces said consumers could face higher premiums when they renew their policies, which typically happens every six to 12 months. What they're saying Minnesota Department of Commerce Commissioner Grace Arnold released a statement saying, "U.S. tariffs, whether enacted or threatened, could increase the cost of maintaining and insuring your car. This is a man-made crisis that will make it more expensive for everyday Minnesotans to drive." Arnold continued by saying, "Minnesota's auto insurance market is competitive, allowing consumers to shop for lower premiums. However, insurance markets depend on stability and predictability to offer consumers comprehensive insurance at affordable prices. These tariffs will likely make it more expensive for Minnesotans to get to work, take their kids to childcare, and drive across our state." What you can do State officials say residents should stay informed about the developments and review their insurance policies. Minnesotans should also consider how possible increases in vehicle prices and insurance could impact their personal budgets. The Source Information for this article came from a news release sent by the Minnesota Department of Commerce based on information from the Insurance Federation of Minnesota and the American Property Casualty Insurance Association.
