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Search across 22,013 articles about elder fraud. Filter by fraud type, payment mechanism, or keywords.
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in Financial Crime
heraldmailmedia.com
· 2025-12-08
A 75-year-old Maryland woman lost $86,000 in a tech support scam that began with a fake iPad security alert. After being directed to call a fake "Apple Support" number, scammers convinced her that her bank accounts were compromised and persuaded her to withdraw cash and purchase gift cards to "secure" her money. The scam was interrupted when a bank security officer at F&M Trust recognized the suspicious $62,500 withdrawal and alerted authorities, leading to the arrest of two New York men who arrived at her home to collect the cash.
azfamily.com
· 2025-12-08
California resident Donald Franklin Huegel was sentenced to four years in prison for his role in romance scams targeting two elderly Arizona victims, stealing nearly $400,000. Huegel posed as a romantic interest online (using aliases like "Chad Callahan" and "Michael Williams") and funneled victims' money to co-conspirators in Africa, with one victim sending over $90,000 and another sending over $367,000. He was convicted of fraudulent schemes, money laundering, and theft, with a restitution hearing to be scheduled for the victims.
techtimes.com
· 2025-12-08
Hong Kong authorities arrested 1,121 people in "Operation AttackPlan," a major crackdown on a cross-border online scam ring linked to 952 fraud cases totaling approximately HK$2.2 billion (US$280 million) in losses. The operation dismantled a money laundering syndicate that had moved over HK$230 million through "stooge accounts" and cryptocurrency purchases, with the syndicate recruiting mainlanders to facilitate illicit fund transfers between Hong Kong and mainland China. The busts come as Hong Kong faces a surge in fraud, with online scams accounting for nearly 68% of cases and authorities urging the public to use detection tools to identify suspicious
ptcnews.tv
· 2025-12-08
Vishal Ahuja, 31, a Delhi resident, was arrested for operating a fake bank job scam after becoming a victim of a similar scheme himself. He advertised fraudulent job openings for banking positions on WorkIndia, sending counterfeit offer letters and collecting fees from victims; the investigation began when Sagar Ranga reported losing Rs 6,829 after responding to one such advertisement. Ahuja was apprehended at Dwarka Mor Metro Station while attempting to meet another victim, and interrogation revealed he had victimized multiple people using proxy accounts and forged documents, while also exploiting an accomplice (Anupama) whose identity he used to open
news18.com
· 2025-12-08
A 29-year-old man, Prince Kumar Sinha, was arrested by Mumbai Police for attempting to defraud social media influencer Pooja Anandani by posing as a casting agent for Akshay Kumar's production house Cape of Good Films. The suspect lured the victim with fake job offers and a fabricated film project, arranging meetings under false pretenses before police intervened and arrested him at a hotel in Juhu. Authorities warn the public to verify the legitimacy of employment offers to avoid similar casting and job-related fraud schemes.
azag.gov
· 2025-12-08
California resident Donald Franklin Huegel was sentenced to four years in prison for his role in a romance scam that defrauded two elderly Arizona residents of nearly $400,000 over two years. Huegel participated in the scheme by funneling victim payments to co-conspirators in Africa after victims were lured by fake online profiles ("Chad Callahan" and "Michael Williams") and manipulated into sending money under false pretenses, including claims their identities were on the Dark Web. The first victim lost over $90,000 and the second lost over $367,000; Huegel was convicted of fraudulent schemes, money laundering, and theft, and will be required to pay
justice.gov
· 2025-12-08
John Kyle Muller of Boulder, Colorado pleaded guilty to conspiracy to commit mail and wire fraud for operating a prize notice scam from 2012 to February 2018 that defrauded thousands of consumers, predominantly elderly victims, of over $15 million. The scheme involved mailing millions of fraudulent notices claiming recipients had won cash prizes, then charging $20-$50 fees to claim non-existent rewards, while victims received only worthless reports or trinkets. Muller and his co-conspirators were shut down in February 2018 through U.S. Postal Inspection Service search warrants and a federal court order.
thebrunswicknews.com
· 2025-12-08
STAR of Coastal Georgia will host a free educational workshop on April 16 for senior citizens focused on recognizing and protecting against elder fraud, scams, and identity theft, with presentations from Bank of America representatives. Registration is required by calling 912-265-0620 or visiting starofcoastalga.org for the 9:30-11 a.m. event at their Brunswick location.
mymcmedia.org
· 2025-12-08
The Montgomery County Office of Consumer Protection warns homeowners about unlicensed driveway-paving scammers who typically target residents in spring, using tactics like unsolicited offers, pressure for cash deposits, and claims of leftover materials to defraud victims. These scammers either abandon projects midway, leave properties damaged, or complete substandard work at inflated prices with no warranty protection, potentially resulting in civil or criminal charges including fraud and property destruction. Homeowners should verify contractors have a Maryland Home Improvement Commission (MHIC) license, obtain written contracts, and avoid cash-only deals or unsolicited offers with pressure for quick decisions.
udel.edu
· 2025-12-08
University of Delaware Police warned the campus community about phone scams in which fraudsters impersonated law enforcement and university employees, calling students and threatening arrest or disciplinary action unless they transferred money via wire transfer, bank transfer, gift cards, or payment apps like Venmo or Cash App. Police emphasized that legitimate law enforcement never calls to threaten legal action or request payment, and advised students to hang up on suspected scams, report incidents to UD Police at 302-831-2222, and monitor their financial accounts for unauthorized activity.
northjersey.com
· 2025-12-08
Morris County authorities warned seniors that Americans lose over $10 billion annually to scams including fake bank notifications, phony job offers, and romance fraud, noting that many senior victims don't report losses due to embarrassment and fear of losing independence. The Prosecutor's Office Financial Crimes Unit provided protection tips including avoiding suspicious links and attachments, never sharing ID or passport information via webcam, and refusing requests for wire transfers, gift cards, or cryptocurrency payments. Authorities emphasized that victims should report fraud immediately to increase chances of financial recovery and aid law enforcement investigations.
ktar.com
· 2025-12-08
Donald Franklin Huegel, a California man, was sentenced to four years in prison for orchestrating romance scams that defrauded two elderly Arizona women of over $481,000 combined. Working with co-conspirators in Africa, Huegel used fake online profiles ("Chad Callahan" and "Michael Williams") to build romantic relationships with his victims, then manipulated them into sending money through various tactics including identity theft threats. A restitution hearing is pending, and Huegel will serve three years of probation following his prison term.
justice.gov
· 2025-12-08
Uwemedimo Umoren, a Georgia man, was sentenced to three years in prison for laundering over $8 million in proceeds from a Nigeria-based fraud enterprise that operated from 2016 to 2021. The criminal scheme primarily targeted vulnerable elderly Americans through investment, business email compromise, and romance scams, with at least 17 victims suffering significant financial and emotional harm, including one elderly man whose stress-induced stroke contributed to his death. Umoren was ordered to forfeit $8.23 million and pay $1.24 million in restitution for his role in receiving and laundering the fraud proceeds through shell company bank accounts he controlled.
timesofindia.indiatimes.com
· 2025-12-08
A 68-year-old businessman in Mumbai lost Rs80,000 to an AI voice cloning scam where fraudsters impersonated the Indian Embassy in Dubai, falsely claiming his son was arrested and playing a cloned voice of his son pleading for bail. A second victim, a 58-year-old professor, lost Rs1 lakh in a similar scheme where a caller impersonated a police inspector claiming her son was detained; cybercriminals used AI to gather family details from social media. Experts warn that AI voice cloning scams are becoming increasingly sophisticated, and advise verifying distressed calls directly with the supposed victim or authorities before transferring money.
justice.gov
· 2025-12-08
Linda Laird, 59, and her father James Blizzard, 80, of Cordova, Maryland, were indicted on charges including Social Security fraud, mail fraud, wire fraud, and financial exploitation of an elderly person. Beginning in November 2017, the defendants fraudulently obtained guardianship and conservatorship of an 81-year-old cognitively impaired nursing home resident, then diverted over $21,000 in Social Security benefits and $85,000 from the victim's bank account for their personal use instead of applying the funds toward her care. Both defendants were released pending trial in U.S. District Court for the District of Columbia.
the-sun.com
· 2025-12-08
Bank manager Andrea Nicole Hopkins stole $328,273 from four elderly customers (ages 80-95) at Commerce Bank in St. Louis between February 2020 and May 2021 by transferring funds into cashier's checks and prepaid cards, forging signatures, and altering account statements to fund her personal expenses and debts. Hopkins pleaded guilty to four counts of bank fraud and was sentenced to 18 months in federal prison in May 2023; Commerce Bank returned all stolen funds to the victims.
justice.gov
· 2025-12-08
Between 2018 and 2022, six collegiate track and field athletes at U.S. universities received and transferred over $820,000 in proceeds from Nigerian-based fraud schemes (romance, goods, and military scams) that targeted more than 100 American victims. Aniekeme Etim, a 24-year-old from Georgia, was sentenced to three years of probation, a $74,847.52 fine, and $123,116.50 in restitution for her role as a money conduit, while her co-defendants received prison sentences ranging from 36 to 46 months and remain subject to deportation.
nia.nih.gov
· 2025-12-08
An NIA-funded study of 644 older adults (average age 85) simulating government imposter scams found that a significant minority are vulnerable to fraud despite lacking cognitive impairment. When contacted about fake Social Security and Medicare account issues, 68.5% did not engage, but among those who responded, 16.4% engaged without skepticism and 12% provided personal information; vulnerability correlated with lower cognitive ability, financial literacy, and scam awareness. Researchers note that actual scam conversion rates are likely higher in real-world scenarios given participants were predominantly White, highly educated women exposed to less intensive tactics than actual scammers use.
beaconjournal.com
· 2025-12-08
A Tallmadge police sergeant investigated a 2019 online dating scam that defrauded a local woman of $60,000 and uncovered a multi-state money-laundering operation involving victims across Pennsylvania, Tennessee, Florida, and Texas, including one couple who lost $375,000. The investigation led to the arrest of six people in Rhode Island who were processing fraudulent funds through compromised bank accounts and money orders. The FBI reported 19,000 romance scam complaints nationally in 2022 with losses exceeding $739 million, typically targeting women over 40.
southcoasttoday.com
· 2025-12-08
Chukwunonso "Douglas" Umegbo, a 39-year-old former New Bedford man, was sentenced to 42 months in prison for operating a romance scam between 2018 and 2019, defrauding victims of over $568,000 by creating fake online personas and romantic relationships to solicit money through fraudulent bank accounts. He was arrested in London in April 2022 and extradited to the U.S., where he pleaded guilty to wire fraud, money laundering, and false statements to banks, and must pay $578,954 in restitution and forfeiture.
aol.com
· 2025-12-08
Chukwunonso Umegbo, a former New Bedford man, was sentenced to 42 months in prison for operating a romance scam between 2018 and 2019, defrauding victims of over $568,000 by creating fake online personas to develop romantic relationships and extract money. Umegbo used multiple aliases and bank accounts in the Greater Boston area to receive and launder victim funds through cash withdrawals and cashier's checks, and continued the scheme even after leaving the U.S. by coordinating with co-conspirators. He was arrested in London in April 2022, extradited to the U.S. in February 2023, and ordered to pay
wdam.com
· 2025-12-08
Six collegiate track athletes, including former William Carey University athlete Aniekeme Etim, were prosecuted for operating an unlicensed money transmission business that facilitated overseas fraud schemes between 2018 and 2022. Nigerian-based fraudsters used romance scams, fraudulent goods scams, and military scams to target over 100 U.S. victims, with the athletes receiving and transferring more than $820,000 overseas; Etim received a three-year probation sentence, a $74,847.52 fine, and was ordered to pay $123,116.50 in restitution.
k923.fm
· 2025-12-08
Matthew David Keirans, a 58-year-old former University of Iowa hospital IT employee, pleaded guilty to federal identity theft charges after impersonating William Woods for three decades, earning over $140,000 annually while living in Milwaukee. The fraud was discovered when the real William Woods, whom Keirans had met in the 1980s, reported the identity theft to authorities; Woods had previously spent two years in prison and was institutionalized after being wrongly accused of the crime himself. Keirans faces several years in prison, and a hearing is scheduled to clear Woods' name.
justice.gov
· 2025-12-08
Darlington Akporugo, 46, a Nigerian resident of Fulshear, Texas, was charged with conspiring with Jasmin Sood to defraud over a dozen elderly Americans in a romance scam that operated between 2015 and 2022, resulting in approximately $3.1 million in losses. The perpetrators created fictitious online personas on dating platforms to build trust with elderly, often widowed victims before convincing them to transfer money to fraudster-controlled accounts, and in at least one case, approached a victim in person to drive her to banks and gain control of her banking access devices. Both defendants face up to 30 years imprisonment on wire frau
nbcmiami.com
· 2025-12-08
Home health care worker Dahamara Cuervo Alonso was arrested in Miami-Dade County after exploiting an 86-year-old client with advanced cognitive issues by tricking her and her disabled adult son into signing a fraudulent quit claim deed transferring ownership of their condo to Cuervo Alonso, despite the documents being written in English when only Spanish was understood by the victims. Cuervo Alonso, who had worked for the family for less than a year, was charged with grand theft over $100,000, exploitation of elderly persons, and organized fraud scheme over $50,000, and was held on a $45,000 bond.
khou.com
· 2025-12-08
Darlington Akporugo, 46, and Jasmin Sood, 35, from Fulshear, Texas, were charged with conspiracy to commit wire and mail fraud for operating romance scams targeting elderly victims, particularly widows, through social media and online dating sites between 2015 and 2022. The pair used fake identities to build trust with over a dozen victims nationwide before requesting money, defrauding them of a total of $3.1 million; in at least one case, they approached a victim in person and gained control of her banking access devices. If convicted, both face up to 30 years in prison on wire fraud charges, with
wdam.com
· 2025-12-08
Six collegiate track and field athletes, including four from William Carey University, were prosecuted for operating an unlicensed money transmission business as part of overseas fraud schemes originating in Nigeria between 2018-2022. The athletes received funds from over 100 victims and transferred more than $820,000 abroad through romance scams, fraudulent goods scams, and military scams; Aniekeme Etim, the last defendant sentenced, received three years probation and was ordered to pay $74,847.52 in fines plus $123,116.50 in restitution. All six defendants face potential deportation and were ordered to make restitution to their respective victims
cpr.org
· 2025-12-08
While younger adults are statistically more likely to fall for fraud, people over 70 lose significantly more money overall. An 80-year-old man in Aurora lost $20,000 after scammers posed as his bank's fraud department over several weeks, convincing him to withdraw cash and convert it to Bitcoin at a gas station ATM. Deputy Ryan Falkner of the Douglas County Sheriff's Office identifies the most prevalent current scams targeting older adults as popup virus warnings and jury duty/arrest warrant phone scams, recommending that victims turn off their computers and never pay via gift cards or cryptocurrency.
longisland.news12.com
· 2025-12-08
Scams targeting seniors on Long Island increased significantly in 2023, with over 3,000 reported incidents resulting in $73 million stolen in Nassau County and $53 million in Suffolk County, according to AARP data. Authorities warn residents to be suspicious of unsolicited contacts requesting money and have begun training bank tellers to identify and report suspicious withdrawal patterns.
cbsnews.com
· 2025-12-08
A Miami home healthcare worker, Dahamara Cuervo Alonso, 48, was charged with grand theft, exploitation of the elderly, and organized fraud after fraudulently transferring an 86-year-old woman's condominium to herself through deceptive document signing. Cuervo Alonso exploited her position as caregiver to vulnerable clients—an elderly woman with cognitive impairment and her disabled son who spoke only Spanish—by having them sign English-language documents they could not read under the pretense of verifying work hours, ultimately stealing the home they both owned and relied on for their future security. The fraud was discovered when the son saw a YouTube video about
longisland.com
· 2025-12-08
An 83-year-old victim in Saddle Rock was defrauded of $31,000 in a tech support scam after receiving a fake Microsoft notification on his computer claiming his device and bank account were compromised. Two men, Rong Chen, 47, and ZhenSheng Yu, 46, were arrested in April 2024 after collecting the cash withdrawals on behalf of the scammers, with Chen and Yu charged with Grand Larceny. The victim avoided additional loss by refusing a third request and contacting police.
kiplinger.com
· 2025-12-08
Employees at a fulfillment center received fraudulent calls from scammers impersonating Social Security Administration, IRS, and other government agencies demanding money or threatening arrest. According to the Social Security Administration, these sophisticated scams cost consumers over $126 million in 2023, and victims should remain calm, never send money or personal information via phone demands, and report incidents to the Office of Inspector General at oig.ssa.gov or the SSA website.
santander.com
· 2025-12-08
Cybercriminals are using fake news on social media to conduct financial fraud by impersonating banks, executives, and well-known individuals with altered images and fabricated investment opportunities. These fraudulent posts mimic legitimate news websites and banking platforms to trick users into clicking links that steal personal and banking information. Recent scams have falsely claimed to offer investment products endorsed by Santander, using an AI-altered image of an executive to appear credible.
nbcnewyork.com
· 2025-12-08
Two individuals, Rong Chen and ZhenSheng Yu, were arrested for a tech support scam that defrauded an 83-year-old Long Island man of $31,000 in January. The scammers displayed a fake popup warning on the victim's computer, impersonated Microsoft support, and convinced him that his accounts were compromised and federal crimes were being committed, resulting in two cash withdrawals of $16,000 and $15,000 respectively that were collected in person. This case is part of a recent pattern of similar scams targeting Long Island residents, with multiple arrests made for variations of the same fraud scheme.
krocnews.com
· 2025-12-08
Sharon Ann Schmalzriedt, 61, a bookkeeper in Wabasha, Minnesota, pleaded guilty to felony theft after stealing over $3.7 million from her employer between October 2019 and March 2020 to send to an online romance scammer posing as "Erik Lockwood," who claimed he needed funds to access $7 million from work in Dubai. She also stole more than $17,000 from a vulnerable adult in her care, and her actions contributed to her employer's bankruptcy. She is scheduled for sentencing in June with a plea agreement recommending a stayed prison sentence and probation.
irishstar.com
· 2025-12-08
Chukwunonso "Douglas" Umegbo, a 39-year-old Massachusetts man, was sentenced to 42 months in prison for laundering over $568,000 obtained through romance scams between 2018 and 2019. Using fake identities and fraudulent bank accounts in the Boston area, Umegbo received funds from romance scam victims, withdrew the money in cash, and purchased cashier's checks to obscure the funds' origin. He was arrested in London in April 2022, extradited to the U.S. in February 2023, and ordered to pay $578,954.78 in restitution and forfeiture.
rexburgstandardjournal.com
· 2025-12-08
Madison County residents, particularly those 50 years old and older, have been targeted by a jury duty summons scam where callers impersonating sheriff's office deputies demand payment or attempt to arrange in-person meetings. The Madison County Sheriff's Office clarified that deputies never contact residents by phone regarding warrants, fines, or tickets, and do not accept payment via gift cards or digital payment methods. Other prevalent scams in the area include IRS impersonation, sweepstakes fraud, fake scholarships, and romance scams, all designed to extract money from victims.
nevalleynews.org
· 2025-12-08
Scottsdale Community College hosted a cyber security awareness event featuring speakers from the U.S. Secret Service and Scottsdale Police Department who educated students and community members about online scams, including AI-voice impersonation schemes, cryptocurrency fraud, and romance scams targeting vulnerable populations. The presentation emphasized protective measures such as staying calm during suspicious calls, verifying caller identity through questions only loved ones would know, and strengthening passwords and security practices, noting that seniors and widows are particularly targeted by romance scammers who exploit loneliness and unfamiliarity with social media.
newschannel20.com
· 2025-12-08
The Champaign County Sheriff's Office is launching a senior education initiative in partnership with Edward Jones to address rising fraud, reporting over 200 fraud cases annually in the county alone. The office warns of evolving scams including phone impersonation schemes claiming to be law enforcement demanding payment to avoid arrest, and advises seniors to hang up and independently verify caller identity. A free educational conference addressing phone scams, online fraud, and personal relationship-based scams is scheduled for April 23rd.
legalinsurrection.com
· 2025-12-08
Mexican drug cartel CJNG operates a sophisticated timeshare fraud scheme that defrauded Americans of approximately $40 million in 2022, with some estimates suggesting hundreds of millions annually, targeting elderly U.S. citizens and draining many of their life savings. The scam, which originated in Puerto Vallarta and expanded to tourist destinations like Cancun, involves fake escrow companies, shell corporations, and fraudulent sales pitches convincing victims to pay upfront fees under the guise of Mexican business practices, with documented cases of individual losses exceeding $1 million. The U.S. Treasury has sanctioned 40 Mexican companies and seven fugitives connected to the scheme
aljazeera.com
· 2025-12-08
In Maharashtra, India, a 40-year-old farmer named Ganesh Kale attempted suicide in January 2024 after spending a decade and nearly 40,000 rupees ($490) taking over three dozen government job exams that were compromised by widespread corruption and paper leaks. The exam scams, which allow wealthy applicants to "buy" positions through influence while poor candidates are denied fair opportunities, have devastated aspirants in the agricultural crisis-stricken Marathwada region, where farmers are desperate to escape poverty-level farm incomes averaging only 138 dollars monthly. The fraud—facilitated by private companies contracted to conduct lower-grade government job
mychesco.com
· 2025-12-08
AARP Pennsylvania is launching an educational campaign to combat Social Security fraud, which affected approximately 360,000 people through impersonation scams in 2021. The organization recommends protective measures including robocall-blocking applications, online account monitoring, and reporting suspicious activities to authorities, emphasizing that genuine unsolicited Social Security Administration contact is extremely rare. Victims of these scams face risks including identity theft, financial loss, and long-term challenges accessing credit and services.
azfamily.com
· 2025-12-08
This is an educational podcast series covering consumer protection topics rather than a specific fraud or elder abuse incident. Key episodes address red flags in standard contracts, risks associated with rewards credit cards that can lead to debt, vehicle recalls affecting safety, and credit denial trends affecting consumers. The podcast provides advice on identifying problematic contract clauses, understanding credit card pitfalls, and navigating consumer financial decisions.
timesofindia.indiatimes.com
· 2025-12-08
This article is not suitable for the Elderus database as it does not concern elder fraud, scams targeting seniors, or elder abuse. The content focuses on political accusations and corruption allegations made during an election rally, along with a brief mention of a scholarship scam investigation. Neither topic relates to the exploitation or abuse of elderly individuals.
masslive.com
· 2025-12-08
Chukwunonso "Douglas" Umegbo, 39, a former New Bedford resident, was sentenced to three-and-a-half years in prison after pleading guilty to running romance scams between 2018 and 2019 that defrauded victims of over $568,000. Umegbo used fake identities to open bank accounts and receive money from fictitious online relationships, then withdrew the funds in cash, purchased cashier's checks, or spent the money directly, and continued directing victim funds to co-conspirators' accounts even after fleeing to London. He was arrested in London in April 2022, extradited to the U.S.
silicon.co.uk
· 2025-12-08
Google filed a lawsuit against two alleged cryptocurrency scammers based in mainland China and Hong Kong who uploaded 87 fraudulent apps that were downloaded by over 100,000 people, defrauding victims of tens of thousands of dollars each through "pig-butchering" romance scams. The developers used fake cryptocurrency investment apps that promised high returns but prevented withdrawals and demanded additional fees of 10-30 percent, ultimately severing contact once victims' funds were exhausted. Google seeks to block the defendants from accessing its services and claims $75,000 in damages from the investigation.
news4sanantonio.com
· 2025-12-08
An elderly homeowner in Luling, Texas received an unsolicited package of precious metals worth approximately $100,000 after being contacted by a scammer posing as customer support; police intervention prevented the fraudster from collecting the package and led to the arrest of California resident Shalin Amin on money laundering charges. The scam targeted the victim by creating urgency and manipulating them into accepting a shipment they never requested. Authorities recommend avoiding unsolicited precious metals purchases, safeguarding personal information, and reporting suspected fraud to the FBI's Internet Crime Complaint Center or the Elder Justice Hotline.
businessinsider.com
· 2025-12-08
Americans lost over $1 million to online puppy scams in the past year, with the Better Business Bureau receiving thousands of reports primarily from Facebook Marketplace and Craigslist, where approximately 80% of sponsored pet advertisements are potentially fraudulent. A North Carolina grandmother lost her life savings when she sent $5,000 in gift cards to a scammer on Facebook Marketplace while attempting to purchase a Yorkshire terrier. The FTC recommends consumers adopt from local shelters, reverse image search photos, request in-person meetings, and avoid unusual payment methods like gift cards, while law enforcement has begun prosecuting perpetrators with felony charges carrying substantial prison sentences.
timesnownews.com
· 2025-12-08
A businessman from Mumbai was defrauded of approximately Rs 3 lakhs after receiving a fake text message directing him to download a malicious app ("vahanpalivahann.apk") to pay pending e-challan traffic fines. The scam works by tricking drivers into installing fake e-challan apps via SMS or WhatsApp links, which grants scammers access to their bank account information and enables fraudulent transactions. Security experts advise against downloading APK files from third-party sources and recommend using apps from official app stores and paid antivirus software for protection.
express.co.uk
· 2025-12-08
Between January 2020 and December 2023, investment fraud cost UK victims more than £2.6 billion across 98,525 cases, with an average loss of £26,773 per victim. Boiler Room fraud and Ponzi schemes were the most prevalent scams, stealing £553 million and £499 million respectively, with 2023 recording the highest number of victims (26,740) losing £527 million that year alone. The FCA recommends vigilance against red flags including unsolicited contact, pressure to act quickly, and promises of unusually high returns.