Latest news with #scams
CBC
4 hours ago
- General
- CBC
Police, Nova Scotia Power issue warnings about scammers
In the wake of the ransomware attack on the company, the RCMP caution customers to be wary of scams that could happen as a result. Gareth Hampshire has the story.
CNET
8 hours ago
- Business
- CNET
5 Online Scams Google Warns To Look Out For
Scammers gotta be scamming. Getty Whether they be scam text messages, fake ads or unsolicited messages on social media, or just plain, old phishing emails, the methods used by cybercriminals to hook their targets are getting more sophisticated and believable. That's the upshot of a report released Wednesday by Google ahead of its Safety Engineering Center's inaugural Scams Summit. The research pointed to recent Federal Trade Commission data showing that reported fraud losses jumped 25% to $12.5 billion last year. Experts say that's in part due to new technologies, including those powered by artificial intelligence, are helping cybercriminals boost both the believability and quantity of their scams. At the same time, Google says there are still plenty of people out there who still don't know what the red flags of a scam are. "Scammers are more effective and act without fear of punishment when people are uninformed about fraud and scam tactics," Google said in the report. Need some help spotting online scams? Here's a look at five trending online scams outlined by Google's researchers in the report and some tips for how to avoid them. Customer support scams Scammers will impersonate legitimate companies like tech-support providers in attempts to trick people into handing over sensitive information. Scammers will exploit their targets by capitalizing on their worries about IT problems. They'll also exploit web vulnerabilities, to show targets fake tech-support phone numbers. How to stay safe: Use the contact information included with your device, or in your tech-support contract. Unsolicited messages or popups offering help should be ignored, and remote access to your device should only be granted to legitimate providers. Double check tech-support phone numbers to make sure they're legitimate before you call them. Malvertizing Scammers use fake online ads to spread malware. Google says they often offer "free" or "cracked" versions of popular software. What's interesting now, the researchers say, is that the scammers are increasingly targeting more sophisticated users, including people with valuable online assets like crypto wallets and social-media influencers. In some cases, Google says, the malvertising could be a first step in a bigger attack. They'll convince their target that the software is safe, urging them to turn off security alerts and antivirus protections to allow it access to their device. How to stay safe: Only download software from sites you know to be legitimate and be very skeptical of any ad that offers free versions of licensed software. Security warnings from browsers or antivirus software should not be ignored or disabled. Fake travel websites Vacation scams are spiking ahead of the summer travel season. Scammers use fake websites to lure vacationers into booking with promises of great deals and unbelievable experiences. They often masquerade as popular hotel chains or a legitimate travel agency. How to Stay Safe: Consumers should be extremely skeptical of super-low prices or massive discounts. Use secure payments with buyer protection and avoid wire transfers. Bookings should be confirmed directly with hotels or airlines. And don't forget to ask about hidden fees. Package-Tracking Scams These involve messages that appear to be from legitimate delivery companies or online retailers. They often trick targets into paying bogus additional fees that the real company wouldn't charge. What's interesting about these scams now, the researchers say, is the ability of the cybercriminals behind them to use phishing software kits to mimic the websites of the legitimate companies almost instantly, boosting both their sophistication and scale. How to stay safe: Be skeptical of unexpected delivery texts that urge you to act right away. Avoid clicking shortened links. If you're expecting a package, go straight to the delivery company's site to check the status. Toll road scams The rise of cashless toll systems has brought with it a freeway full of fake text messages claiming that people have unpaid tolls. The hope is that drivers will hand over their credit card numbers or other personal information. How to stay safe: This is another case where you need to think before you click, even if the message says you have to act right away. If you've recently used a toll road, confirm the fees directly with the official toll company. Don't click on links from unknown phone numbers or emails.
Bloomberg
12 hours ago
- Business
- Bloomberg
UK Sees Card Fraud Soar Even After Clampdown on Payment Scams
Fraudsters have switched up their tactics after the UK cracked down on authorized push payment scams, meaning the overall amount stolen was broadly unchanged last year. Criminals swiped £1.2 billion ($1.6 billion) in 2024, according to trade body UK Finance's annual fraud report. The amount taken using authorized push payments, where a victim is tricked into sending money to an account controlled by scammers, fell 2% to £450.7 million, and the number of cases fell by a fifth to the lowest since 2020.
Globe and Mail
18 hours ago
- Business
- Globe and Mail
Is Meta Platforms' Business in Trouble?
Meta Platforms (NASDAQ: META), the social media giant that owns Facebook, Instagram, and WhatsApp, has been a growth beast in recent years. Its revenue is growing at a fast pace, and the stock is soaring. Since the start of 2023, the stock price is up 431%. But past performance, as they say, is no guarantee of future performance. Could there be trouble ahead for the company? A recent report from The Wall Street Journal discussed some significant shortcomings in Meta's business, which it says could make Meta vulnerable to regulatory pressures in the future. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Here's what you need to know if you're thinking about buying Meta Platforms' stock today. A hub for internet fraud? According to the Journal's May 15 report, documents revealed that Meta Platforms "accounted for nearly half of all reported scams on Zelle for JPMorgan Chase [account holders] between the summers of 2023 and 2024." And regulators in Britain and Australia were also seeing similar patterns. However, those still weren't the most mind-boggling numbers from the reporting. Incredibly, an estimated 70% of new advertisers on the platform, the report said, were found to be promoting scams or selling illegal or low-quality products. And in some cases, it could take 32 strikes before an account might get banned from the platform. Meta has developed a reputation for having problems related to misinformation circulating on its platforms for years, but these new reports arguably take things to a new level. My concern is that a lot of the company's revenue growth may be due to having lax policies, and that makes its platforms hubs for scammers. According to The Wall Street Journal, a spokesperson from Meta said the company is working the fix the issues being raised and has issued warnings to users to be wary, but it has also argued in court cases about whether it should be held liable that it has no legal responsibility to make fixes. While the company talks about improving its practices, the report's findings don't suggest it's doing nearly enough. Without a strong growth rate, the stock could be vulnerable In 2023, when shares of Meta were picking up steam, its growth rate was accelerating and was on a much more positive trajectory than in 2022, when companies were scaling back on ad spend. But if that strong growth was due to having loose rules around ads, that poses big question marks about what its growth rate might really be if it were to take a much tougher stance. Data by YCharts. Meta's growth rate has already begun to slow down in recent quarters, and the risk is that more of a slowdown may be inevitable. Regardless of whether it tightens up its policies or not, adverse macroeconomic conditions could weigh on its operations. Chinese retailers are already looking to cut back on ad spending this year due to tariffs, and that could impact Meta's advertising business to the tune of $7 billion, according to an estimate from MoffettNathanson. If the company does put tougher policies in place, or is forced to do so through greater government oversight, that could make a bad situation even worse for Meta. Should you avoid Meta Platforms stock? Meta Platforms' stock looks relatively cheap based on current estimates, trading at 24 times its trailing earnings, but that multiple could look far different if the company has to take a tougher stance on policing its ads. It also faces the risk of a possible breakup due to antitrust issues, where it may need to sell off Instagram and/or WhatsApp, two of its more popular social media applications, especially when it comes to younger audiences. Year to date, the stock is up around 9.3%, but it is down about 13% from its 52-week high. Between a slowing growth rate, a possible breakup of its business, and a questionable business model, there are a flurry of reasons to avoid the tech stock right now. While Meta has been doing well in recent years, this is a stock I'd stay away from as I have serious doubts about its long-term growth potential. Should you invest $1,000 in Meta Platforms right now? Before you buy stock in Meta Platforms, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Meta Platforms wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor 's total average return is957% — a market-crushing outperformance compared to167%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 19, 2025 JPMorgan Chase is an advertising partner of Motley Fool Money. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase and Meta Platforms. The Motley Fool has a disclosure policy.
Forbes
19 hours ago
- General
- Forbes
If You Get This Message On Your Phone It's An Attack
Delete these texts immediately Republished on May 28 with new warnings from Google and others as these attacks continue to surge across America. And still they come. Despite multiple warnings from the FBI and police forces across the United States, iPhone and Android owners are still falling victim to attacks daily — with their money, their data, even their identities being stolen. While Trump and Xi continue their game of tariff chicken, China's organized crime groups such as Smishing Triad and Panda Shop have quietly industrialized text message attacks, which have now reached almost every city and state in the U.S. It started with undelivered packages, but it's unpaid tolls that have really hit the big time. It's hard to imagine any American phone users can't have seen at least some of the FBI, police and DMV warnings that have been making weekly headlines for months. But users are still falling victim — the scam still works and it still works at scale. 'I got this message earlier today,' one Redditor posted. 'I have never received any text messages from DMV before nor do I owe any outstanding tickets. This is super fishy. Have anyone received anything like this before?' The latest warnings in recent days come from New York, Florida, California and the FCC, which told drivers 'toll operators typically don't use text messages to collect on overdue accounts, and do not use threatening language to rush customers into action.' That's an understatement. If you get an unpaid toll text, you should assume it's an attack. Every time. If you have concerns you may owe a toll, contact the operator using its usual, publicly available channels. Then do as the FBI says and delete the text. And you should get used to these attacks. They're not stopping. The next wave is expected to move from tolls to banking, with texts pretending to be from financial institutions instead of toll operators or delivery services. Resecurity warns 'the actors behind smishing campaigns are tightly connected with those involved in merchant fraud and money laundering activity. Smishing is one of the main catalysts behind carding activities, providing cybercriminals with substantial volumes of compromised data collected from victims.' Resecurity warns just one threat actor can send "up to 2,000,000 smishing messages daily,' which means targeting 'up to 60,000,000 victims per month, or 720,000,000 per year, enough to target every person in the U.S. at least twice every year.' The hope now is that these warnings are being amplified loudly enough for all U.S. citizens to be alert to unpaid toll texts. The Michigan Department of Transportation has even taken to warning of toll scams using the electronic traffic signs along its highways. And it's not ambiguous: 'Be aware,' it warns, 'toll texts are scams.' Louisiana's Office of Motor Vehicles has just warned its drivers in equally blunt terms: 'The @LouisianaOMV does not send text messages or emails threatening to suspend your vehicle registration or driving privileges. If you receive such a message: Do NOT click links; Do NOT respond; Delete the message; Report the scam.' In a new advisory, Google warns this is 'a global threat, we've observed that attackers will 'follow the sun', first sending scam messages mimicking toll roads in Europe, then in the East Coast of the U.S., then in the West Coast, and onwards over the course of a day. These messages aren't always the most realistic — our teams have seen cases where users are spammed with toll road fees in states that don't operate toll roads.' While there are telltale signs — such as Chinese top level domains such as .TOP or .XIN in links or the subtle use of a 'com-' to mimic a real .COM domain, staying safe is simpler. Assume any undelivered package, unpaid toll, compromised password, suspended account or similar is a scam. Never reply. Never engage. Always delete.
