FTC Takes Action to Assist Victims of Impersonation Scams in Recovering Funds
In 2023, impersonation scams, such as those targeting Facebook pages and YouTube accounts like Linus Tech Tips, have resulted in losses amounting to $1.1 billion for victims. The Federal Trade Commission (FTC) is now taking steps to help these individuals recover their money.
Scammers Exploit Trust to Steal Cryptocurrency
Criminals have been using fake Calendly meeting links to deceive victims and steal their cryptocurrency. Linus Media Group fell prey to a thief who impersonated a potential sponsor and successfully gained control of their YouTube channel. The group’s founder, Linus Sebastian, shared his experience on Twitter, warning others about the scam.
AI-Powered Fraud on the Rise
Scammers are increasingly leveraging artificial intelligence (AI) for more nefarious purposes. One such example involves using AI-generated voice clones of family members to claim they have been kidnapped, manipulating victims into sending money.
FTC Outlines Targeted Behaviors
Last month, the FTC announced a final rule aimed at combating impersonation scams. The agency highlighted specific behaviors it intends to address:
- Fraudsters using government seals or business logos in mail or online communications with consumers.
- Scammers spoofing government and business emails and web addresses, including using “.gov” email addresses or creating lookalike email addresses and websites with misspelled company names.
- Criminals falsely implying government or business affiliation by using terms commonly associated with a government agency or business (e.g., claiming to be calling from the “Clerk’s Office” to deceive victims into believing they are affiliated with a court of law).
By implementing this rule, the FTC aims to protect consumers from falling victim to these deceptive practices and provide a pathway for those who have been scammed to recover their lost funds.
6 Comments
Finally, the FTC stepping up! But will it truly make a dent in scam epidemic?
Well, it’s a start, but let’s see if the FTC’s efforts actually put a dent in the scammers’ wallets!
A step in the right direction by the FTC, but will it really scare the scammers away?
Looks like the FTC’s flexing its muscles – curious to see if the scammers actually sweat this time.
Oh, so now the FTC decides to show up to the party, about time or too little too late?
At last, the FTC is rolling up its sleeves; let’s see if that’s enough to knock some sense into fraudsters!