Category: US FTC

Binance and Garantex with money laundering activitiesH
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May 2, 2024

High-Risk Payments: BlueSnap Settles for $10 Million with FTC Over Fraudulent Payment Processing!

Payment processor BlueSnap, its former CEO Ralph Dangelmaier, and SVP Terry Monteith agreed to a $10 million settlement with the Federal Trade Commission (FTC) for its role in processing payments for companies engaged in deceptive and fraudulent practices. The settlement mandates significant financial restitution aimed at compensating consumers and a strict prohibition against processing payments for certain high-risk clients.
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US FTC fines German credit card processor NexwayU
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April 18, 2023

U.S. Authorities Order German Credit Card Processor Nexway to Pay $650,000 For Scam Faciliation!

The U.S. Justice Department and the U.S. Federal Trade Commission (FTC) announced that they would collect $650,000 in consumer redress from the German Nexway Group and its officers Victor Iezuitov and Casey Potenzone. The credit card processor accepted and facilitated scam operators. The payment of the $650,000 will result in suspending the total monetary judgment of $49.5 million granted by the court.
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FTC investigates Twitter under Elon MuskU
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March 8, 2023

U.S. Regulator FTC Investigates Twitter Following Mass Lay-Offs!

The U.S. Federal Trade Commission (FTC) has demanded Twitter turn over internal communications related to owner Elon Musk, as well as detailed information about layoffs. The regulator said that it has concerns that staff reductions could compromise the company’s ability to protect users, documents viewed by the Wall Street Journal show. The FTC is also seeking to depose Musk.The demand letters were obtained by the Republican-led House Judiciary Committee.
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Romance scams and sextortion on the rise with cryptoR
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February 10, 2023

Romance Scams And Sextortion With Crypto Payments On The Rise!

The U.S. Federal Trade Commission (FTC) recently released a report on the status of romance scams. In the U.S. alone, reported losses to victims in 2022 were $1.3 billion. Unreported losses are likely to be many times that amount. Sextortion has risen particularly sharply. Victims of romance scams are blackmailed with explicit photos that they have carelessly submitted to the scammers. The payment to romance scammers is increasingly made via crypto, the FTC report concludes.
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We are looking for Ljudmila MohacsekF
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June 17, 2022

Fighting Social Media Fraud! Facebook And Twitter Agree To New EU Rules!

Social media are powerful tools for scammers to chase victims. Facebook, Twitter, and other social media platforms have agreed to abide by tougher EU standards for policing online postings, WSJ reports. Big tech companies will also face tougher rules under the coming US digital-content law. Under the new EU code of practice, social media platforms will be expected to take steps to prevent advertising intentionally false or misleading information. Platforms will also be expected to provide users with more tools for identifying such content online.
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FCA report exposed crypto and social media fraudU
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June 12, 2022

US FTC Report Exposes Crypto & Social Media As Preferred Scammer Tools!

Scammers embraced crypto ever since its inception. The US Federal Trade Commission (FTC) reported that since the start of 2021, more than 46,000 people have reported losing over $1 billion in crypto to scams – that’s about one out of every four dollars reported lost, more than any other payment method. The median individual reported loss is $2,600. Nearly half the people who reported losing crypto to a scam since 2021 said it started with an ad, post, or message on a social media platform.
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