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How the Pandemic Helped Drive a Startling Increase in Identity Theft Losses

09 Mar, 2021

Some 47% of U.S. adults have reported identity theft over the past two years, while the fraud’s toll ballooned to $712.4 billion in 2020, up 42% from 2019, according to a report released Tuesday by Aite Group, a Boston-based research and consulting firm, and sponsored by Giact, an Allen, Texas-based financial-services security firm.

Yikes! I sent money to a stranger by mistake

27 Feb, 2021

What if you sent $500 to a stranger by mistake and that person refused to give back your money? That’s the shocking situation in which Rossin Asilo recently found herself. Using the money transfer app Zelle for the first time, Asilo made a simple typo entering her friend’s phone number. That error dropped the cash intended for a memorial donation into the wrong person’s bank account. Unfortunately, that stranger appears to view the transaction as a $500 windfall and will not return the money.