The Internet
US Federal Trade Commission: Romance Scams Rank First On Total Reported Losses
From the FTC: Romance scammers lure people with phony online profiles, often lifting photos from the web to create attractive and convincing personas. They might make up names or assume the identities of real people. Reports indicate the scammers are active on dating apps, but also on social media sites that aren’t generally used for dating. For example, many people say the scam started with a Facebook message. Once these fraudsters have people by the heartstrings, they say they need money, often for a medical emergency or some other misfortune. They often claim to be in the military and stationed abroad, which explains why they can’t meet in person. more »
Journalists Trying To Help Readers Cope May Mislead on Holiday-Suicide Myth
During the holidays, many in the press write stories aiming to help readers cope with the blues and other seasonal conditions. But some journalists inadvertently support a myth about the holidays and suicide, or quote well-intentioned sources who should know better. Despite the fact that the holiday season has some of the lowest average daily suicide rates, some journalists continue to perpetuate the holiday-suicide myth. In the 2017-18 holiday season, two-thirds of the print news and feature stories that mentioned both the holidays and suicide drew a false connection between them, according to the latest analysis by the Annenberg Public Policy Center of the University of Pennsylvania. more »
Federal Reserve Speech by Lael Brainard: What Are We Learning about Artificial Intelligence in Financial Services?
Editor's Note: fin·tech, noun. Computer programs and other technology used to support or enable banking and financial services. "fintech is one of the fastest-growing areas for venture capitalists". "By accessing data sets with consumers' personally identifiable information and applying open-source AI tools, a phisher may be able to churn out highly targeted emails to millions of consumers at relatively low cost, containing personalized information such as their bank account number and logo, along with past transactions. In cases such as this, where large data sets and AI tools may be used for malevolent purposes, it may be that AI is the best tool to fight AI." more »
National Archives Document for Today, October 17th: Verdict in United States of America v. Alphonse Capone, October 17, 1931
In June 1930, after an exhaustive investigation by the federal government, notorious Chicago gangster Al Capone was indicted for income tax evasion. During a highly publicized trial, the prosecution documented Capone's lavish spending and proof that Capone was aware of his obligation to pay federal income tax but failed to do so. After nearly 9 hours of deliberation, the jurors found Capone guilty of three felonies and two misdemeanors. Capone was sentenced to serve 11 years in prison and to pay $80,000 in fines and court costs. more »