Cyber Criminals turns Victims into Money Mules via Confidence and Romance Fraud
According to the FBI’s Internet Crime Complaint Center (IC3), the latter flavor of confidence/romance scams commonly involves one of a number of meticulously crafted stories that may ultimately result in the victims unwittingly aiding and abetting a crime by asking for favors like opening a bank account, mediate money transfers, or sending fake checks.
Confidence and romance frauds continue to rise, with over $362 million (70% more compared to the previous year), based on 18,000 complaints added this year. However, not all victims report the deceit.
Comparatively, those 18,000 victims make confidence and romance the seventh most-reported complaint and a bigger problem than identity theft and credit card fraud.
The FBI’s bottom-line advice is pretty much the same for this fraud as it would be for any other: don’t send money or give out credit card numbers, bank account information, or Social Security numbers to anyone you meet online until you’ve completely verified the recipient’s identity. Authenticating someone’s identity will take work, but you know what they say about an ounce of prevention.
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Techcess CyberSecurity Group
Houston, Texas 77055