Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
China is reducing support for its electric carmakers a move experts and industry insiders warn could lead to consolidation and waning investor appetite. But some of the...Technologyread more
Is your CEO on the list? Glassdoor has the results.Power Playersread more
Joseph Gaspar, the chief financial officer at Elbit Systems, said M&A among firms in the sector began to pick up pace in the 1980s and looks set to continue.Paris Air Showread more
Stocks in Asia rose in Wednesday afternoon trade following positive developments overnight on the U.S.-China trade front.Asia Marketsread more
Signs of companies moving out of Hong Kong have emerged, members of the business community told CNBC following massive protests in the city. But one analyst said Hong Kong's...China Politicsread more
Sen. Josh Hawley, a well-known tech critic, is introducing legislation that would remove the immunity big technology companies receive for user-posted content under Section...Technologyread more
In its new "Future Skills" report, LinkedIn has identified what it calls the 10 "rising skills" of the future and the jobs associated with them.Get Aheadread more
Democratic Rep. Maxine Waters on Tuesday requested that Facebook pause its development of Libra, an upcoming cryptocurrency that the company plans to release in 2020.Technologyread more
Has your CEO won over enough workers in Germany to make the cut? Glassdoor reveals.Power Playersread more
Social media scams and cruel cons that target lonely hearts to rob them blind were the leading drivers of Internet fraud in 2014, the FBI reported Tuesday in a survey of computer crime.
In its annual online fraud report, the Internet Crime Complaint Center, or IC3, said total financial losses to online fraud reported to the federal government last year topped $800 million.
The IC3 report, however, is a window on how much of that fraud is perpetrated. And in 2014, love-seekers and people who overshare on Facebook and other social media sites became the most common victims of cybercreeps, the report said.But that's just a drop in the bucket of what's presumed to be the real cost of online fraud, much of which doesn't go reported. Citing industry data, the National White Collar Crime Center, which coordinates IC3 with the FBI, said online fraud is actually estimated to cost U.S. residents and businesses more than $3.5 billion a year.
The worst schemes involve scammers — often masquerading as members of the military — pretending to seek love online, IC3 said. Romance confidence scams were the most-reported kind of fraud last year, with victims swindled out of $14,214 on average.
And women were by far more likely to be targeted than men. While men made up the slight majority of all Internet crime victims, women were victimized in almost 70 percent of romance cons.
"Criminals search dating websites, chat rooms, and social media websites for personally identifiable information, and use well-rehearsed scripts to attract potential victims," it said. "Victims of these scams believe they are in a relationship with someone who is honest and trustworthy without meeting them in person."
The crooks are especially adept at manipulating social media as it has become "an integral part of life for people of all ages," IC3 said. More than 12 percent of all fraud reports last year included a social media aspect — a jump of more than 400 percent in just five years, the agency said.
"In most cases," it said, "victims' personal information was exploited through compromised accounts or social engineering" — techniques whereby crooks persuade victims to click on dangerous links. Fake or masked "Like" and "Share" buttons are particularly effective lures, often taking clickers to sites that load malware on their computers.
IC3 also noted a sharp rise in crime associated with virtual currencies like Bitcoin, Litecoin and Peercoin, reports of which doubled over 2013. "As this type of currency becomes more popular, criminals have comprised new ways of capitalizing on this market, bilking millions of dollars from victims around the globe," it said.
Some things never change, however — as it has been for years, the big money remains in the business world.
The total number of reports by businesses has always been relatively small, because businesses are reluctant to make it known that they've been conned. But among those that did go public last year, the average loss to businesses — most commonly through compromises of their email services or manipulation and fraud in investment transactions — was more than $42,000, the data show.
IC3 offered several tips for sussing out suspicious schemes: