It’s National Consumer Protection Week, and 7 On Your Side is helping consumers dodge fraud.
According to the most recent data available, the Federal Trade Commissioner says the number of scams reported went up by a whopping 25% in 2024.
The agency is also seeing threats of violence increase.
7 On Your Side’s Nina Pineda spoke with a cybersecurity expert, that of all people, had an alarming experience with an extortion attempt.
The FTC says the fear factor is what motivates victims into action– and threats, from arrest, to financial ruin, even bodily harm, are getting more popular. What you’re about to see and hear is an extortion attempt in progress, captured by a fraud expert who was randomly targeted.
Michael Bordash was sent this threating message through a video, after receiving a cryptic phishing text accusing him of browsing an illicit website.
“You think this is a game, right? I’m going to your location, and if you’re not there, one of your family members will have to pay for this. Are you listening to me, you stupid…” the scammer said.
It was an extortion attempt, showing a masked scammer holding a gun to the camera.
“This guy thought he could extort me with aggressive threats, creepy messages, and intimidation tactics,” Bordash said.
But the scammers picked the wrong guy. Bordash runs a YouTube channel called the Fraud Monitor and is head of research at a company called Syniverse, which sits at the intersection of all global telecom networks and sees how scam messaging moves across carriers.
“Extortion scammers are amongst the worst people on the planet. These cowards hide behind profiles, make fake threats, have huge bravado, and they try to terrify innocent people into sending the money,” Bordash said.
He got the scammer on the phone, then recorded the entire call.
“You have to pay me money. We can go to your house right now,” the scammer said.
The callers claimed to have text messages which could ruin Bordash’s life, a common tactic used to extort money.
“Block the contact. They won’t be able to call you; they won’t be able to text you,” Bordash said. “Do not reply, do not negotiate, do not send any more money or materials. Block them everywhere. Paying almost always leads to more demands.”
If you are targeted, preserve the evidence, including screenshots, emails, video, and audio. Do not delete anything, and don’t pay. Report it to the FTC.
You can also file a complaint with the State Attorney General.
Reporting the threat to the Internet Crime Complaint Center can help the FBI crackdown on these scams.
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