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financial-planning.com
· 2025-12-08
Fraud victims, particularly older adults, face a "double whammy" of financial losses when they liquidate retirement accounts to pay scammers, as they incur both the theft and unexpected IRS tax liabilities on the withdrawn funds. In the past year, 880,418 fraud complaints reported losses exceeding $12.5 billion, with current tax law treating stolen funds as taxable income rather than deductible losses. Lawmakers and advocacy groups like AARP are pushing for legislative changes to allow defrauded taxpayers greater tax deductions, and experts urge brokers and banks to better screen for unusual withdrawal requests that may indicate scam activity.
timesnownews.com
· 2025-12-08
New York State Attorney Letitia James warned of rising "pig butchering" romance scams targeting New Yorkers through dating apps and social media, where fraudsters build fake relationships before convincing victims to invest in cryptocurrency schemes. Victims reported losses ranging from tens of thousands to over $1 million, with two-thirds of crypto complaints to the State Attorney's office linked to online fraud, with communication often conducted through platforms like WhatsApp and WeChat.
nypost.com
· 2025-12-08
New York Attorney General Letitia James warned of rising "pig butchering" romance scams in which fraudsters use dating apps and social media to build fake romantic relationships with victims before pressuring them to invest in cryptocurrency schemes. Victims have lost between tens of thousands and over $1 million, with two-thirds of the Attorney General's cryptocurrency complaints tied to these online crimes. The scammers typically move conversations to encrypted platforms like WhatsApp or WeChat before directing victims to fraudulent investment platforms, often operated by overseas perpetrators.
troyrecord.com
· 2025-12-08
New York Attorney General Letitia James issued a consumer alert about "pig butchering" romance scams, where fraudsters build romantic relationships with victims on dating apps and social media before convincing them to invest money in fake cryptocurrency or currency schemes. Victims typically deposit tens of thousands to over a million dollars before discovering they cannot withdraw funds or are asked to pay fake fees, at which point the scammers disappear. The Attorney General recommends verifying people's identities, consulting financial advisors before investing, and reporting suspected scams to law enforcement and the relevant platforms.
elliptic.co
· 2025-12-08
AI-enhanced scams are emerging as a potential threat in the cryptocurrency ecosystem, though not yet widespread. Criminals are exploiting AI technology through deepfake videos of celebrities and public figures to promote fake crypto investment schemes, and by creating fraudulent "AI-related" tokens designed for pump-and-dump schemes and rug-pulls that defraud investors. Elliptic released a horizon scanning report identifying five typologies of AI-enabled crypto crimes and recommends industry stakeholders implement best practices and develop strategies to prevent these threats from becoming mainstream.
abc.net.au
· 2025-12-08
A scam-baiter named Jim Browning exposed a cryptocurrency investment scam operation based in Georgia, Eastern Europe, that targets victims worldwide by posing as financial advisors and recovery services. The scammers use fake celebrity endorsements and fraudulent websites to lure victims, then display fake cryptocurrency portfolios to convince them their money is growing, with some victims—including an Australian man Browning monitored in real-time—losing thousands of dollars. Australians reported losing over $2.74 billion to scams in the previous year, with attackers particularly targeting older adults with retirement savings.
cryptotimes.io
· 2025-12-08
Scammers used deepfake AI videos of Elon Musk across over 35 YouTube channels on June 6 to conduct a cryptocurrency fraud scheme, promising to double any Bitcoin, Ether, or Dogecoin deposits sent to them during SpaceX's Starship launch event. One fraudulent channel impersonating SpaceX accumulated 170,000 viewers across three simultaneous streams, and nine wallets associated with the scam held approximately $34,000 in combined cryptocurrency. After YouTube removed the streams, the same scammers rebranded their channel to impersonate the Cardano Foundation and launched a similar deepfake scam using Cardano
themonroetimes.com
· 2025-12-08
Phishing scam reports to the Better Business Bureau nearly doubled in 2023, reaching over 9,000 reports—a record high—with scammers increasingly using text-based (SMS) phishing tactics alongside traditional email and phone-based methods to trick victims into sharing personal information or downloading malicious software. The BBB documented phishing techniques used across multiple scam types including government impersonation, tech support fraud, and cryptocurrency schemes, with victims losing billions of dollars over the past three years. Common red flags include urgent language, requests to confirm financial information, suspicious login alerts, and messages impersonating authority figures or well-known companies.
ca.news.yahoo.com
· 2025-12-08
British Columbia authorities warned 10 suspected "money mules" in Metro Vancouver in late May after the BCSC identified them transferring funds obtained from investment fraud victims, with an estimated hundreds of thousands of dollars involved. Money mules—who may knowingly or unknowingly facilitate money laundering for criminal networks—are recruited through false job offers, romance scams, or false identities, and face potential criminal charges for possession or laundering proceeds of crime. The investigation revealed that organized crime groups behind these investment fraud schemes have shifted from Nigeria and Eastern Europe to primarily southeast Asia since the BCSC began investigating in 2020.
vancouversun.com
· 2025-12-08
The RCMP and B.C. Securities Commission delivered warning letters to 10 suspected "money mules" on May 29 who were allegedly laundering proceeds from offshore investment scams involving hundreds of thousands of dollars through cash and cryptocurrency transfers. The operation targets individuals who may be unwittingly assisting criminals, willfully ignoring the illegal activity, or knowingly participating in money laundering schemes that originate from Eastern Europe, Africa, and Southeast Asia. British Columbians reported $46.4 million in investment scam losses in 2023, though authorities estimate actual losses are significantly higher, with the true figure likely in the hundreds of millions of dollars.
moneymarketing.co.uk
· 2025-12-08
Fraud affects one in 17 people in the UK and comprises 38% of all crime, according to an Anti-Money Laundering Professionals Forum. The article outlines seven increasingly sophisticated fraud types targeting victims: impersonation fraud (posing as banks or authorities), social media fraud (fake websites and phishing), cryptocurrency investment scams (promising false high returns), courier fraud (impersonating officials to extract money), romance fraud (building fake relationships to steal assets), investment fraud (promoting worthless overseas properties or shares), and payment diversion (using nearly-identical email addresses to redirect payments). Pension providers and authorities must work together to combat these scams through reporting and vigilance.
abc.net.au
· 2025-12-08
A sophisticated romance scam operation based in the Dubai desert targeted tens of thousands of people through fake text messages and WhatsApp messages, with scammers posing as wealthy Eastern European women and models to lure victims into cryptocurrency investment schemes. An insider named Evan, who took a job at the facility out of desperation, discovered the operation involved a three-stage "pig-butchering scam" where workers messaged 40-50 potential victims daily using stolen photos and video call actors. The syndicate was eventually exposed through the collaboration of an Australian victim (Murray Sargant), a private detective, a YouTube scam-baiter, and Evan himself, who worked from within to help
actionnews5.com
· 2025-12-08
The FBI reported an 11% increase in elder fraud losses in 2023 compared to 2022, with people over 60 losing $3.4 billion nationwide and $43 million in Tennessee alone. Common scams targeting seniors include cryptocurrency investments, tech support fraud, business scams, and romance scams, with scammers exploiting older adults' disposable income and lower proficiency with online services. The FBI advises victims to stop sending money, cut off contact with scammers, and file complaints with the Internet Crime Complaint Center immediately.
crapo.senate.gov
· 2025-12-08
In 2023, seniors lost $3.4 billion to scams, an 11 percent increase from 2022, prompting Senator Mike Crapo to co-sponsor a unanimously passed Senate Resolution to combat elder fraud. Common scams targeting older Americans include romance schemes, fraudulent tech support, cryptocurrency conversion fraud, and investment scams, with warning signs including unexpected contact with pressure to act quickly, requests for personal information, and demands for untraceable payments. The Idaho Attorney General's office and other agencies provide educational resources and encourage seniors to report fraud without shame, noting that scammers are sophisticated and victims should contact law enforcement, their financial institutions, and relevant agencies rather than remaining silent due to
kare11.com
· 2025-12-08
A Maple Grove senior lost $20,000 in a phone scam after accidentally dialing an incorrect number and reaching scammers posing as Xfinity customer service. The scammer convinced the victim that his accounts had been hacked and pressured him to withdraw cash and deposit it into a Bitcoin ATM; a gas station clerk intervened during the final transaction, preventing the loss of an additional $5,000. Brooklyn Park police report that residents lost over $1 million to cryptocurrency scams in 2024, with recovery being nearly impossible once funds are transferred between digital wallets, particularly when scammers operate overseas.
newportnewstimes.com
· 2025-12-08
Social media scams are currently the most prevalent fraud type, surpassing phone and text fraud. The article identifies four common tactics: giveaway scams requiring personal information or suspicious link clicks, investment scams promising unrealistic returns, fake shopping deals with pressure tactics and unusual payment requests, and impersonation scams where fraudsters pose as trusted contacts requesting urgent financial assistance. Protection strategies include verifying account authenticity, avoiding unsolicited offers, using secure payment methods, enabling two-factor authentication, and confirming unexpected requests through independent contact channels.
cryptodaily.co.uk
· 2025-12-08
I cannot provide a summary for this content. This article appears to be promotional material about cryptocurrency projects and investment opportunities, not documentation of elder fraud, scams, or elder abuse.
Elderus is a research database focused on elder fraud and abuse cases. Please submit articles or transcripts related to scams, fraud schemes, or elder abuse for summarization.
cryptobriefing.com
· 2025-12-08
The Federal Trade Commission has warned consumers about crypto romance scams, where fraudsters pose as romantic interests on social media, build emotional connections, and then pressure victims to invest in cryptocurrency with promises of guaranteed high returns. Scammers use untraceable payment methods like gift cards and crypto transfers, with victims reporting losses ranging from thousands to millions of dollars. The FTC advises people to disconnect from suspected scammers immediately and report them to both the social media platform and the FTC at ReportFraud.ftc.gov.
blockonomi.com
· 2025-12-08
The U.S. Federal Trade Commission warns about cryptocurrency romance scams in which fraudsters pose as romantic partners online, build emotional trust, and convince victims to invest in fake cryptocurrency schemes promising high returns with no risk. Over $75 billion was lost to these scams between January 2020 and February 2024. The FTC advises victims to cease communication immediately if an online love interest requests money via gift cards, payment apps, or cryptocurrency, and to report suspected scammers to both the social media platform and the FTC.
crypto.news
· 2025-12-08
The U.S. Federal Trade Commission issued a warning about the rise of "romance scams" (also called "pig butchering scams"), in which scammers pose as romantic interests to trick victims into making fraudulent cryptocurrency investments, with over $75 billion lost to these schemes between January 2020 and February 2024. The FTC advised that scammers establish emotional connections, conduct background checks on victims, promise unrealistic risk-free returns, and disappear after obtaining funds, and recommended that victims cut off contact and report incidents to the FTC. Notable cases include a Philadelphia woman who lost $450,000 in 2024 and crypto exchange Debiex, which allegedly solicite
cointelegraph.com
· 2025-12-08
The U.S. Federal Trade Commission issued a consumer warning about romance scams involving cryptocurrency, in which scammers build emotional relationships with victims over time before convincing them to invest in crypto schemes with false promises of guaranteed profits and expert guidance. The FTC noted these scammers have stolen millions of dollars and advised consumers to watch for warning signs such as promises of large returns, guaranteed risk-free investments, and requests to send money. Canada's Anti-Fraud Centre similarly reported a surge in crypto romance scams on dating apps and social media, urging consumers to be cautious of online contacts promoting cryptocurrency investments.
crypto.news
· 2025-12-08
An anonymous victim lost approximately $1.1 million to two pig-butchering romance scams between January 2021 and December 2022, where scammers posed as a romantic interest and investment advisor on Facebook to manipulate the victim into transferring funds for false business opportunities and cryptocurrency investments. The US government has filed a forfeiture complaint to seize nearly $200,000 in Tether (USDT) held on Binance that was traced to the scam and converted by suspect Izuchukwu Henry Okolo, with the funds now in FBI custody. Pig-butchering scams use romantic relationships and false investment promises to gain victims' trust
highlandcountypress.com
· 2025-12-08
**Article:** "Raising awareness about fraud targeting seniors"
The FBI reported seniors lost $3.4 billion in 2023, an 11-percent increase from 2022, through scams including romance fraud, fake tech support, cryptocurrency schemes, and investment fraud. The article outlines six warning signs of scams and provides guidance on prevention measures and reporting channels, including contacting local police, the FTC, FBI's Internet Crime Complaint Center, and the U.S. Postal Inspection Service.
hudsonvalleycountry.com
· 2025-12-08
New York officials are warning residents about a rising "pig butchering" scam targeting romance seekers on dating apps and social media. Scammers build trust with victims over time before convincing them to invest money in cryptocurrency or foreign currency schemes, often moving conversations to encrypted platforms like WhatsApp to evade law enforcement. New York Attorney General Letitia James recommends verifying people's identities, avoiding wire transfers to unvetted contacts, and being suspicious of those who resist video calls, pressure for investments, or request personal financial information.
plantcityobserver.com
· 2025-12-08
After hurricanes, scammers target disaster victims through fake contractors demanding upfront payment or using misleading Assignment of Benefits documents, fake government/utility workers requesting personal information, non-existent rental listings, and fraudulent charities. Victims should verify all contractors' credentials and insurance, avoid cash/wire transfer payments, never pay for FEMA assistance, and check charity legitimacy before donating.
wuky.org
· 2025-12-08
Elder Kentuckians lost $12.8 million to scams in the previous year, with projections to double to $12.7 million by May of the current year, according to FBI officials who warn the problem is not declining. The three most common scams targeting Kentucky elders are investment fraud (including cryptocurrency and precious metals schemes), tech support fraud (phishing and fake security alerts), and romance fraud, with a detailed case study showing a 72-year-old woman losing nearly $200,000 to a military officer imposter who cultivated a romantic relationship with her over months before requesting money for military contract payouts and travel expenses. The investigation resulted in the indictment of three U
sf.gov
· 2025-12-08
San Francisco's Mayor London Breed joined city, state, and federal leaders on World Elder Abuse Awareness Day to announce that over 1,200 seniors were reached through a multi-agency fraud prevention campaign, with presentations delivered in six languages across 37 locations. The coalition educated seniors on identifying red flags for scams including blessing scams, AI-based impersonation, grandparent schemes, and "pig butchering" cryptocurrency fraud, while highlighting that elder fraud caused over $3.4 billion in losses nationally in 2023, with the average victim losing $33,915. The effort aimed to help seniors and families recognize fraudulent schemes and report crimes to prevent victimization.
ktvq.com
· 2025-12-08
Montana agencies, including the FBI and Adult Protective Services, convened on World Elder Abuse Awareness Day (June 15) to address a sharp rise in senior financial exploitation and abuse in the state. Adult Protective Services investigated nearly 11,000 allegations of elder abuse between June 2023-2024, while the financial abuse specialist team saw case referrals jump from 11 in 2022 to 33 in 2023, with cryptocurrency ATM scams and romance scams being particularly common. Experts attribute the increase to a record number of people turning 65 and note that many cases go unreported due to victim shame and fear.
wgme.com
· 2025-12-08
Maine seniors lost $7.1 million to elder fraud in the past year, with nearly 400 victims over age 60 falling prey to scams including romance and investment schemes often involving cryptocurrency. The FBI reports a double-digit increase in financial scams across New England, with regional losses reaching $1.6 billion between January and May of this year. Victims are advised to avoid unsolicited communications, resist pressure to act quickly, never share personal information with unverified sources, and recognize gift cards and cryptocurrency payments as red flags, while authorities emphasize that actual victim numbers are likely higher due to underreporting.
sebastopoltimes.com
· 2025-12-08
Financial exploitation of elderly residents in Sonoma County increased significantly, with Adult Protective Services reporting a 9% rise in abuse reports and 14% increase in investigations from 2022 to 2023, with 19% of over 7,800 allegations involving financial exploitation. Common scams targeting seniors include investment fraud, tech support scams, phishing schemes, and romance scams, which collectively cost victims $3.4 billion nationally in 2023, with romance scams proving particularly damaging due to the emotional manipulation involved. Experts advised seniors to avoid clicking links in suspicious emails or calls, contact companies directly to verify account issues, and be wary of requests for money from online dating
al.com
· 2025-12-08
Romance scammers exploit emotional connections formed on dating apps and social media to lure victims into fake investment schemes, particularly cryptocurrency fraud. In 2021, romance scams cost Americans $547 million, with cryptocurrency-based scams being the most expensive, and victims have lost tens of thousands to millions of dollars. Red flags include promises of guaranteed profits, "no risk" investments, offers to teach investment strategies, and requests for payment via gift cards, payment apps, wire transfers, or cryptocurrency—anyone meeting online who pitches cryptocurrency investment is running a scam and should be reported immediately to the platform and the FTC.
wmtw.com
· 2025-12-08
Seniors are increasingly targeted by scammers using phone calls impersonating banks or relatives to steal personal information and money. According to FBI data, older Americans lost $1.6 billion to fraud from January-May 2024, with Maine victims alone losing $7.2 million in 2023 (397 cases averaging $18,040 per victim). Experts recommend pausing to verify unexpected urgent calls through known phone numbers and educating older adults about common scams, with organizations like Kennebunk Savings partnering with the Southern Maine Agency on Aging to provide fraud prevention resources and support.
punchng.com
· 2025-12-08
The U.S. government announced increased efforts to pursue international scammers targeting American citizens, following a business email compromise scheme that defrauded a U.S. company of approximately $8 billion (N8 billion). Scammers used spoofed emails to redirect payments to fraudulent accounts, with funds transferred to cryptocurrency wallets and banks in multiple countries including Nigeria; U.S. authorities successfully seized approximately $5.3 million held in domestic banks before it could be transferred overseas. The Department of Justice is directing victims of cryptocurrency scams, romance scams, investment scams, and business email compromise fraud to report through a dedicated government website to support investigation and recovery efforts.
whig.com
· 2025-12-08
Phishing remains one of the most prevalent fraud tactics, with scammers using emails, text messages, and phone calls to steal personal information and money by impersonating banks, government agencies, and tech support. The Better Business Bureau reports phishing text messages are increasing in frequency and now incorporate artificial intelligence to create more convincing messages. Common warning signs include requests to confirm financial information, claims of account problems, urgent language with typos, and unsolicited links or offers; victims should verify suspicious communications directly with legitimate organizations before clicking links or providing information.
aol.com
· 2025-12-08
The FBI reports a significant increase in elder fraud cases, with $1.6 billion in losses from January to May 2024—nearly $300 million more than the same period in 2023—and notes that Texas alone lost over $278 million in 2023. The most common schemes targeting older adults include tech support scams, romance scams, investment scams, and government impersonation scams, with investment fraud showing the sharpest growth (up 419% in losses from 2021-2023, largely due to cryptocurrency). The FBI emphasizes that seniors should verify unknown contacts, resist pressure to act quickly, avoid sharing personal information with unverified sources, and monitor their
becu.org
· 2025-12-08
Elder fraud continues to rise significantly, with older Americans losing over $3.4 billion in 2023 alone—an average of $33,915 per victim and representing an 11% increase in losses from the prior year. The most common scams targeting seniors include tech support fraud (where scammers pose as legitimate companies to gain computer access), imposter scams (impersonating government agencies or financial institutions), and romance scams (criminals building fake relationships to extract money). Protective measures include avoiding unsolicited contact, never downloading software from unknown contacts, and never sharing sensitive information or credentials with unverified callers.
newsantaana.com
· 2025-12-08
The FBI reports that elder fraud losses reached $1.6 billion from January to May 2024, a nearly $300 million increase from the same period in 2023, with complaints rising 14% annually. Common schemes targeting older adults include tech support scams, romance scams, investment scams (which saw 419% increase in losses from 2021-2023), and government impersonation scams. The FBI recommends seniors verify unfamiliar contacts, resist pressure to act quickly, avoid unsolicited offers, never share personal information with unverified sources, and report suspected fraud to the FBI or IC3.gov.
fox23maine.com
· 2025-12-08
In Maine, nearly 400 seniors over age 60 lost a combined $7.1 million to elder fraud last year, with the FBI attributing the rise to increased romance and investment scams using hard-to-trace payment methods like cryptocurrency. To protect themselves, seniors should be cautious of unsolicited communications, resist pressure to act quickly, never share personal information with unverified sources, and recognize gift cards and bitcoin requests as red flags. Experts note that actual victim numbers are likely higher due to underreporting driven by fear and embarrassment.
crypto.news
· 2025-12-08
This cryptocurrency market recap covers multiple topics, but is primarily relevant to elder fraud awareness for two scam types: The Federal Trade Commission warned of a surge in romance scams where fraudsters build romantic relationships to defraud victims of cryptocurrency holdings. Additionally, crypto exchange scams affected users through SIM swap attacks (OKX), impersonation fraud targeting $210,000 in losses (fake Binance co-founder), and major exchange breaches ($22 million stolen from Lykke).
cryptopolitan.com
· 2025-12-08
CISA warned of increasing impersonation scams targeting crypto investors, where fraudsters pose as government employees to solicit wire transfers, cash, cryptocurrency, or gift cards. The FTC simultaneously issued an alert about romance scams involving cryptocurrency, where scammers build emotional relationships with victims before manipulating them into fake crypto investments. Both agencies advise verifying caller identity through official channels and rejecting unsolicited requests for money or personal information, emphasizing that legitimate government agencies never request such payments.
whittierdailynews.com
· 2025-12-08
Over 200,000 cases of elder abuse are reported annually in California, with financial exploitation being a criminal act punishable by up to four years of jail and civil damages for victims. The article illustrates how seniors become vulnerable to financial exploitation—not through incompetence but through loneliness, boredom, and lack of awareness of current market values—using a real example of a realtor attempting to pressure an elderly man into selling his home well below market value. The author recommends establishing financial decision-making rules for seniors, including comparison shopping and understanding current costs, along with resources like the California elder abuse hotline (1-877-4R-SENIORS) for reporting suspicious activity.
indiatoday.in
· 2025-12-08
Binance co-founder Yi He fell victim to an impersonation scam on X (formerly Twitter) where fraudsters used her identity to promote a fake "MemeCoin" token, resulting in multiple users losing significant sums of money. He publicly called on Elon Musk to address the rampant spread of fake crypto news on the platform, noting that a security firm previously reported approximately 57,000 victims lost about $47 million to crypto phishing scams facilitated via X. The article also highlights the broader issue of crypto scams, including "Crypto Romance" scams identified by the FTC, where scammers build emotional connections with victims to exploit them.
foxbusiness.com
· 2025-12-08
Travel scams cost American consumers over 30,000 complaints in recent years, with common schemes including fake travel websites that mimic legitimate booking sites, suspicious payment requests demanding gift cards or wire transfers, and fraudulent vacation rental listings on popular platforms that don't exist or don't belong to the scammers. Experts advise travelers to watch for red flags such as pressure to book immediately, deals that seem too good to be true, requests to leave established websites for payment, and unusual payment methods, as these tactics are commonly used during peak travel seasons when consumers are excited and vulnerable.
cnn.com
· 2025-12-08
Dennis Jones, an 82-year-old Virginia man, lost his entire life savings to a "pig butchering" scam after being groomed online for months by a woman claiming to be named Jessie who convinced him to invest in fraudulent cryptocurrency; devastated by financial ruin, he died by suicide before his family could help him recover. Pig butchering scams, run primarily by Chinese criminal gangs operating from Southeast Asia, involve con artists building relationships with victims over months before pressuring them to invest in fake cryptocurrency platforms, with the FBI estimating these scams stole nearly $4 billion from American victims in the past year alone—a 53% increase from the previous year
forbes.com
· 2025-12-08
Cybersecurity researchers identified a wave of sophisticated scams targeting Trump 2024 campaign donors following the campaign's announcement of cryptocurrency donations in May 2024 and Trump's subsequent conviction in late May. Fraudsters created convincing replica websites (such as donalbjtrump.com) and phishing pages that mimicked the legitimate campaign site, strategically updating content to align with campaign messaging, and offered false opportunities like a $2,000 dinner with Trump at Mar-a-Lago; while the exact amount stolen is unknown, the real campaign raised over $50 million in 24 hours after the verdict, suggesting significant fraud losses. Notably, researchers confirmed that scammers are
nbcboston.com
· 2025-12-08
Financial fraud cost Essex County victims approximately $10 million last year, with cryptocurrency scams emerging as an increasingly common threat, particularly targeting older adults. District Attorney Paul Tucker warned citizens about crypto scams' tactics, including pressure to use crypto ATMs, send funds to scammers' digital wallets instantaneously (preventing transaction reversal), and keep transactions secret. Warning signs include being told to remain on the phone during transactions and that cryptocurrency is the only payment method accepted.
the-sun.com
· 2025-12-08
Cybersecurity experts warn that AI chatbots like ChatGPT and Google Gemini pose deception risks to users because their human-like conversational abilities make them more persuasive than traditional websites. Users should adopt new verification behaviors by cross-checking chatbot information across multiple trusted sources rather than relying on a single AI response, as these systems can generate false or misleading information.
vermontbiz.com
· 2025-12-08
A 2023 analysis of Vermont cybercrimes found that investment scams are the costliest, with victims averaging $162,265 in losses (22 victims, $3.6M total), followed by cryptocurrency wallet scams at $133,133 per victim (28 victims, $3.7M total). Vermont residents reported 708 cybercrimes statewide in 2023, resulting in total losses of approximately $13.6 million, with an average loss of $19,248 per victim across all crime types.
cointelegraph.com
· 2025-12-08
A White Settlement, Texas police officer stopped a scam targeting an elderly woman who had been tricked by a Chase Bank impersonator into withdrawing $40,000 and depositing $23,900 into a Bitcoin ATM machine. The scammer used spoofed caller ID and threats of arrest—tactics common in pig butchering scams—before arranging transportation to a bank and convenience store. Authorities intervened before further losses occurred and are working to recover the deposited funds.
lbpost.com
· 2025-12-08
An 81-year-old Alhambra woman lost her entire $720,000 life savings to a romance scam involving cryptocurrency after a stranger befriended her via messaging app, with her bank failing to flag the suspicious transactions despite red flags. In response, she partnered with consumer advocates to sponsor Senate Bill 278, which would require California banks to delay transactions over $5,000 by three days if elder fraud is suspected, train staff to recognize warning signs, and notify designated emergency contacts or joint account holders of suspected fraud. The bill has passed the Senate with support from senior advocacy groups, though financial institutions initially opposed it citing concerns about liability and operational constraints before recent amendments eased their position.