FTC warns of scammers after NY Magazine finance columnist misplaced $50K in voice phishing hoax

Enterprise

By Ariel Zilber

Federal Commerce Commissioner Chair Lina Khan warned the general public about scammers after a New York Journal monetary recommendation columnist revealed she handed over $50,000 to a thriller man who claimed to be an company investigator.

“Being the sufferer of a rip-off might be devastating” Khan posted on X.

“No one from the FTC will ever provide you with a badge quantity, ask you to verify your Social Safety quantity, ask how a lot cash you’ve gotten in your checking account, switch you to a CIA agent, or ship you texts out of the blue.”

Khan stated Individuals misplaced $2.7 billion final yr due to vishing, or voice phishing — the place scammers impersonate authorities brokers over the cellphone.

Her Thursday publish on X got here hours after Charlotte Cowles printed her troubling story on The Reduce, the digital trend information website that operated below the umbrella of New York Journal.

The primary-person account — headlined “The Day I Put $50,000 in a Shoe Field and Handed It to a Stranger: I by no means thought I used to be the type of individual to fall for a rip-off” — revealed how Cowles was taken in by somebody claiming to be “an investigator with the FTC” who “gave me his badge quantity.”

The “FTC investigator” additionally presupposed to know Cowles’ Social Safety quantity, residence tackle and date of beginning.

The person additionally claimed that Cowles had 22 financial institution accounts, 9 automobiles and 4 properties registered to her identify.

Cowles was advised by the person that she was wished for arrest in two states in reference to the disappearance of a lady who rented one of many automobiles below Cowles’ identify.

The columnist, who was fearful she was the sufferer of identification theft, withdrew $50,000 in money from the financial institution and handed it to a courier who confirmed up in a white Mercedes close to her Brooklyn condominium.

Cowles wrote that she was advised she wanted to shut down her previous Social Safety quantity and pay the money to the federal government in order that she might obtain a brand new one.

As soon as she made the handoff, she could be despatched a verify below the brand new Social Safety quantity and thus have her identification restored, she was advised.

The Publish has sought remark from Cowles.

Khan posted a hyperlink to an FTC proposal which might levy penalties in opposition to those that pose as authorities or enterprise officers.