The US Federal Trade Commission (FTC), Washington's consumer watchdog, has filed a lawsuit against two businesses it accuses of operating cryptocurrency pyramid schemes. The FTC is taking action against Bitcoin Funding Team and My7Network over what it defines as "chain referral" scams, in which participants pay upfront entry fees in order to be able to recommend others to follow suit. The companies allegedly promised customers who made an initial investment of just $100 (£71) that they could earn an $80,000 (£56,938) monthly income from doing so - although payouts seldom amounted to anything like that. The two businesses defrauded an estimated 30,000 people worldwide between them, the lawsuit alleges. "Bitcoin Funding Team's structure, which created a continual chain of recruitment and recruitment-related payments, ensured that few participants would obtain the results depicted or projected by the defendants," the FTC's complaint reads.
The scam works like this: There you are, using your computer just like any other day, when suddenly a pop-up appears, warning you that your computer has been infected by a virus and you need to call tech support immediately. If you try to get rid of the pop-up, it just keeps coming back. If you do call the alleged tech support number, you're connected to telemarketers who claim to be affiliated with major technology companies – but are really scammers trying to bilk customers for costly and unnecessary computer repairs or services. When the Federal Trade Commission announced a major crackdown on these scammers last month, it was relying in part on the work of a group of Microsoft researchers and Digital Crimes Unit investigators who used artificial intelligence to help unravel the complex web of technical tricks the scammers were using to swindle users and avoid law enforcement. The scammers weren't easy to track down.
Back in mid-2015, Turing Robotics Industries unveiled its delightfully quirky debut smartphone, an encrypted Android device encased in colorful chrome. Though we cautioned that it could be delayed for a myriad of reasons that often plague small companies, we looked forward to their release in December...then delayed until early 2016...and long story short, it didn't ship at all. Now the company is filing for bankruptcy in Salo, Finland where it had rented a warehouse for manufacturing.
Chan Zuckerberg Initiative awards $5.5 million to UMass for artificial intelligence project … The project's goal is to create an intelligent and navigable map of scientific knowledge using a branch of artificial intelligence called "knowledge representation and reasoning," according to a UMass press release.
Illegal, Unreported and Unregulated (IUU) fishing is becoming a major issue around the world . In general, IUU fishing is a broad term encapsulating many different scenarios (i.e. For the purposes of this blog, we'll just limit out discussion to Illegal fishing – i.e. fishing uses practices that are against the law, fishing in areas where it is not allowed, or taking animals which are not allowed to be taken.