Phishing emails pose a major cyber threat, targeting businesses and individuals with deceptive messages to steal sensitive information. Timothy Smoot, executive vice president and chief financial officer, warns that scammers often impersonate trusted contacts to gain access. He stresses the importance of cybersecurity training, multi-factor authentication and vigilance in spotting red flags to prevent fraud and data breaches.
Tag: Federal Trade Commission
Posted inFinancials
Innovation in fraud: How scammers are targeting Americans in new and evolving ways
Money scams are becoming more sophisticated, with fraudsters targeting more consumers with cryptocurrency investment scams, fake online relationships and deceptive remote job postings. In 2024, Americans lost over $12.5 billion to fraud, with investment scams accounting for $5.7 billion of those losses.
Posted inFinancials
Detecting fraud before it’s too late: Clever Girl Finance founder talks red flags and warning signs
Credit card fraud is on the rise, with millions of Americans falling victim to unauthorized charges every year. Bola Sokunbi, founder of Clever Girl Finance, shares expert insights on how to spot and prevent fraud before it spirals out of control, offering practical advice to protect your financial information in an increasingly digital world.
Posted inFinancials
How to spot and avoid digital fraud
Financial solutions investment advisor Zakiyyah Muhammad warns that Cash App scams are becoming more prevalent, particularly targeting elderly retirees and young users. By understanding common fraud tactics and staying vigilant, individuals can better protect their finances and avoid falling victim to digital payment scams.
Posted inHealth
Prescription drug costs in America are rising- can discount cards provide relief?
The cost of prescription medications in the U.S. continues to rise, placing a significant financial strain on individuals and families. While factors such as specialty drug pricing, PBM influence and regulatory gaps contribute to high prices, prescription discount cards offer a temporary reprieve for consumers struggling with out-of-pocket expenses.
Posted inHealth
‘Supermarket Redlining’: Why Black families pay more for food
Black households are disproportionately affected by food insecurity due to supermarket redlining, food deserts, and higher prices, and the federal government is investigating the high cost of groceries to ensure that major businesses are not exploiting their power to inflate prices.
Posted inBUSINESS
D.C. Attorney General sues StubHub for ‘junk fee scheme’
D.C. Attorney General Brian L. Schwalb has sued leading online ticket exchange and resale company StubHub for deceptive pricing practices, accusing the company of hiding additional fees during the purchasing process.
Posted inWashington D.C. News
D.C. AG calls for continuance of FTC ban on ‘deceptive’ TurboTax ads
The Federal Trade Commission has prohibited Intuit from advertising its services as “free” unless they are free to all customers, and the D.C. Attorney General and Illinois Attorney General have filed a brief calling for the appeal to be rejected.
Posted inBUSINESS
A win for Black entrepreneurship: Is the new FTC ban good for Black businesses?
The Federal Trade Commission has voted to ban noncompete agreements, which could increase worker pay by $300 billion and lead to 8,500 more new businesses each year, but legal challenges from the US Chamber of Commerce and the Business Roundtable may delay its implementation.
Posted inNational News
Experts urge senators to act in the fight against financial fraud
By Katharine Wilson, Capital News Service Americans are reporting fewer frauds since a peak in 2021. However, experts at a Jan. 31 Senate hearing said scammers are only getting better at extracting more money from their victims. Witnesses and senators agreed that action is needed to fight this issue – but they differed on what […]
Posted inCommentary
We must work together to support the sustainability of HBCUs in America
By Dr. Benjamin F. Chavis Jr. Earlier this year the U.S. Department of Education sent all colleges and universities across the nation a notice, reminding them that they need to comply with the newly updated cybersecurity regulations published by the Federal Trade Commission (FTC). The regulations – which include specifications such as implementing critical controls […]