Security Nudge. FTC Distributing Refunds To Cyber Scam Victims. Sponsored By CybSafe.

Cybercrime Magazine Podcast

If you’ve been caught up in a scam, the financial losses can be devastating. And while victims are often left to carry the consequences of those losses on their own, it’s worth knowing that the Federal Trade Commission, or FTC, has been working hard to get money back to consumers who have been affected by criminal scams. In June, the FTC began sending over $2.4 million in refunds to consumers who had paid for business consulting programs from Lurn – that’s L-U-R-N – that had been promoted as an easy way to make money. Another recent settlement was for $5.6 million sent to over 117,000 customers of Amazon-owned home security company Ring, which allowed employees and contractors to access customers’ videos to train its systems without consent and failed to implement security safeguards. There has also been $62 million in refunds for around 55,000 consumers deceived by online real estate business Opendoor Labs and $2.8 million to victims of deceptive cryptocurrency investment campaigns run by DK Automation. It may not undo the damage these scammers cause, but knowing that the FTC is on your side may be a small consolation – particularly if you are among the many victims on the agency’s list for compensation. Check its website occasionally for news of new action and refunds. The 60-second "Security Nudge" is brought to you by CybSafe, developers of the Human Risk Management Platform. Learn more at https://cybsafe.com