Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
Despite a decline in global commercial real estate markets, Asia-Pacific continues to enjoy a record-breaking growth — thanks to China, according to the Global Capital Flows...Real Estateread more
The Wall Street Journal and The New York Times, citing people familiar with the deal, reported that $30 million would go to plaintiffs and $14 million would be used to pay...Entertainmentread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
SpaceX sent 60 satellites into space in a key first mission toward the company's own high-speed internet network.Internetread more
The U.S. Commerce Department said its proposed rule would amend the normal countervailing duty process to include new criteria for currency undervaluation.World Economyread more
Zilingo founder Ankiti Bose says working as an investment analyst helped her build her near-$1 billion fashion start-up.Ditching the Corporate Liferead more
Asia Pacific markets were mostly in negative territory on Friday morning as investors remained worried over trade tensions between the United States and China.Asia Marketsread more
Indian Prime Minister Narendra Modi's Bharatiya Janata Party would have the first back-to-back majority in the lower house of parliament for a single party since 1984.Asia Politicsread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
Many people looking for love online are finding loss instead — roughly $2,600 in lost cash that was lovingly wired to an online sweetheart who mysteriously disappeared.
The Federal Trade Commission said this week it received a record 21,000 reports of romance scams in 2018, costing victims $143 million.
The median loss from such scams — $2,600 — is seven times higher than other types of fraud, the FTC reported.
Romance scammers will create fake online profiles using photos taken off the internet to lure people. They'll then portray those attractive, made-up personas on various dating apps and social networks not reserved for dating, like Facebook.
Scammers often dodge video chats or in-person visits by saying they're stationed abroad in the military, the FTC said.
Once relationships are established, though, the scammers will tell victims of a medical emergency or misfortune and request money. They might also ask for money to help pay for a visit.
Romance scamming has more than doubled in recent years and is steadily rising.
In 2015, 8,600 reports were filed, with a total of $33 million reported in losses, according to the FTC.
People ages 40 to 69 report losing money at the highest rates, and they are twice more likely to fall for the schemes than people in their 20s, the agency said. People over 70 report the highest individual median losses at $10,000.
Most people paid scammers through wire transfers and gift cards, according to the report.
The FTC recommends that people do not send money to those they've never met in person and to talk with friends and family members about potential concerns and do a reverse-image search of online acquaintances.