Search
Explore the Archive
Search across 26,669 articles about elder fraud. Filter by fraud type, payment mechanism, or keywords.
8,010 results
in Financial Crime
baltimoresun.com
Baltimore State's Attorney Ivan Bates announced multiple convictions and indictments targeting crimes against older adults and vulnerable people, including theft schemes, financial exploitation, and home improvement fraud. Notable cases include James Rickey Dupree convicted of stealing approximately $200,000 in vehicles using falsified documents; Bryan Oneal Jones accused of defrauding 15 victims of $309,299 through fake home improvement contracts; David Coleman charged with defrauding a 72-year-old disabled veteran of $105,700; and several defendants charged with exploiting elderly relatives through undue influence, identity theft, and physical abuse. The announcement coincided with a resource fair by the
foxbaltimore.com
Baltimore State's Attorney Ivan Bates announced multiple convictions and indictments targeting elder abuse and financial exploitation, including cases involving theft schemes, home improvement fraud, and physical abuse. Notable cases include Bryan Oneal Jones, who defrauded 15 vulnerable adults of approximately $309,299 through fake home improvement contracts; David Coleman, charged with defrauding a 72-year-old disabled veteran of $105,700; and James Rickey Dupree, convicted of theft and forgery in a $200,000 vehicle theft scheme. The announcement coincided with a resource fair by the Economic Crimes Unit's Older & Disabled Persons Unit to educate seniors on
justice.gov
**Summary:**
Antranette Echols, a 57-year-old Indianapolis resident, was sentenced to 12 months and one day in prison for wire fraud involving fraudulent COVID-19 relief loan applications. Echols prepared and submitted falsified loan applications on behalf of business borrowers in exchange for fees, resulting in losses of $373,690 to financial institutions and the Small Business Administration, which she was ordered to repay.
cbc.ca
A 68-year-old Winnipeg retiree lost nearly $650,000 in November 2022 after a fraudster posing as a Bank of Montreal portfolio manager convinced him to transfer funds into a fraudulent Toronto RBC account in the name of B21 Trade (Canada) Ltd. Squire is now suing Access Credit Union and Royal Bank of Canada, alleging they failed to identify red flags such as the transfer of his entire retirement account to an unknown third party, constituting negligent facilitation of financial elder abuse under Manitoba law.
scmp.com
A Hong Kong police crackdown arrested 11 members of a fraud syndicate that defrauded 99 men of HK$20 million (US$2.8 million) through online romance scams over nine months, with victims including doctors, engineers, teachers, and other educated professionals aged 21-44. Police noted that men comprised 35 percent of romance scam victims in August, challenging assumptions that only women fall prey to such schemes, and warned the public to be cautious about requests for money in online relationships.
blog.aarp.org
Elder financial exploitation is the most common form of elder abuse, affecting at least 10% of older adults annually in the U.S., with AARP estimating annual losses at $28.3 billion for those over 60. Critical data gaps exist regarding the impact on historically discriminated-against communities, including racial and ethnic minorities, LGBTQ+ populations, and low-income groups, due to underreporting caused by fear of retaliation, distrust of authorities, and language barriers. Better demographic data collection is essential to develop effective prevention and intervention strategies tailored to vulnerable populations.
verywellmind.com
This educational guide examines the psychology behind why people fall for scams, emphasizing that susceptibility is not a matter of intelligence but rather how scammers exploit psychological vulnerabilities. Key findings include that adults aged 35-44 are most likely to be deceived (though older adults remain targeted), those 18-24 lose the most money, and online fraud causes an estimated $2.7 billion in annual losses while also impacting victims' mental health. The article outlines how scammers build trust through impersonation and social engineering, and notes that common scams include phone fraud, phishing, fake job offers, and emergency schemes—increasingly enhanced by AI technology.
bankingjournal.aba.com
The FDIC, Consumer Financial Protection Bureau, and AARP hosted a virtual town hall on October 30 to educate older adults about financial scams and exploitation. The event included real-world examples of elder financial exploitation, fraud statistics, and prevention strategies to help protect seniors from becoming victims.
yahoo.com
Tanya Alahmad, a Cleveland woman, was sentenced to 30 months in prison and ordered to pay $46,000 in restitution for forging a power of attorney and stealing from an elderly victim between November 2019 and February 2022. While posing as a caregiver in the victim's home, Alahmad fraudulently obtained credit and debit cards in the victim's name and wrote unauthorized checks, particularly during periods when the victim was hospitalized. She pleaded guilty to mail fraud and aggravated identity theft.
hometownstations.com
**Summary:**
Tanya Alahmad, 46, of Cleveland, Ohio, was sentenced to 30 months in prison and ordered to pay $46,064.30 in restitution for mail fraud and aggravated identity theft. From November 2019 to February 2022, Alahmad gained the trust of an elderly victim by providing household assistance, then forged a power of attorney in her name and used it to fraudulently obtain credit and debit cards, making unauthorized purchases and withdrawals totaling over $46,000, including while the victim was hospitalized.
hyperallergic.com
Art dealer Wendy Halsted Beard was sentenced to five years and three months in prison for defrauding 43 elderly collectors of approximately $1.6 million through a fine art photography consignment scheme at her Birmingham, Michigan gallery between 2017 and 2022. Beard sold consigned artworks without paying owners their share of proceeds, failed to deliver works to buyers after payment, and returned counterfeit pieces when victims demanded returns—including an original Ansel Adams photograph valued at $625,000 that she sold for $440,000 and kept the difference. A judge ordered Beard to pay over $2 million in restitution, with investigators unable to
oig.ssa.gov
Tavoy Farquharson, a 32-year-old Jamaican national, was charged with conspiracy to commit mail fraud in connection with a lottery scheme that defrauded victims of at least $9.5 million between March and July 2023. Farquharson and his co-conspirators contacted victims by mail and phone, falsely claiming they had won lottery prizes and demanding advance payments for taxes and fees via wire transfer, gift cards, cash, checks, or other methods. If convicted, Farquharson faces a maximum of 20 years in federal prison.
iredellfreenews.com
Joshua David Mayberry, 39, was arrested and charged with nine felonies after stealing more than $100,000 from an elderly relative in western Iredell County, North Carolina. The fraud began in April 2018 when Mayberry fraudulently accessed and used the victim's bank accounts and credit cards for unauthorized purchases, with the theft discovered in April 2024 following a report from a financial institution. Mayberry faces seven counts of identity theft, one count of elder exploitation from a position of trust, and one count of obtaining property by false pretense.
home.barclays
Financial criminals are exploiting cost-of-living pressures and AI technologies to target young people, with 80% of 18-24 year-olds reporting they have been targeted or know someone approached by scammers. Money muling—where individuals unknowingly or knowingly allow criminals to use their bank accounts to transfer stolen funds—is a growing concern, with "unwitting money mules" making up approximately one-third of confirmed fraud cases. Common scam tactics include fake job advertisements, romance scams using AI-generated profiles, purchase fraud (76% of scams targeting this age group), and schemes offering commissions on transactions or involving "mistaken" deposits.
globalsecuritymag.fr
The 2024 NICE Actimize Fraud Insights Report reveals a significant shift in fraud tactics, with fraudsters increasingly targeting investment and romance scams while moving away from account takeover fraud toward authorized fraud schemes. Investment and romance scams pose heightened consumer risk, while authorized fraud and domestic wire fraud continue to rise globally, though attempted fraud increased 6% in volume but decreased 26% in value. The report, based on analysis of billions of transactions, highlights the need for sophisticated fraud prevention technologies, particularly for web-based P2P transactions which show fraud rates 5 times higher than mobile-based transactions.
watcher.guru
In 2023, Americans lost $5.6 billion to cryptocurrency scams, accounting for approximately 50% of all financial crimes reported to the FBI. Fraudsters employed various tactics including fake gaming apps, "pig butchering" romance scams to gain trust and access to cryptocurrency wallets, and fake investment signal groups on Telegram that promised high returns before blocking victims. The FBI attributed the rise in crypto crimes to technological advances enabling fraud and consumers' vulnerability to "fear of missing out" marketing around digital assets.
thespec.com
Four individuals were charged in connection with a multi-year renovation and mortgage fraud scheme that defrauded an elderly woman of approximately $374,000 and forced her to sell her home. The scammers used door-to-door sales tactics to sell home renovation products (water softeners, air conditioning units, insulation, etc.) on high-interest contracts, then fraudulently registered notices of security and four reverse mortgages against the victim's property without her knowledge, systematically extracting her home's equity. The coordinated scheme, which originated in 2021-2022, involved four perpetrators working in different roles—two conducting door-to-door sales and installations, and two facilitating
goldrushcam.com
The Tuolumne County Sheriff's Office warned residents of an impersonation scam in which a caller claiming to be "Sergeant Eric Roberts" from the department contacted victims demanding payment via cryptocurrency machines to resolve a "failure to appear" warrant and avoid arrest. The sheriff's office emphasized that it never solicits payment by phone and advised residents that requests for payment via cryptocurrency or gift cards are major red flags for scams.
justice.gov
Tanya Alahmad, 46, of Cleveland, Ohio, was sentenced to 30 months in prison and ordered to pay $46,064.30 in restitution after pleading guilty to mail fraud and aggravated identity theft for forging a power of attorney to steal over $46,000 from an elderly victim between November 2019 and February 2022. Alahmad befriended the victim, gained access to their home, and used a forged POA to obtain fraudulent credit and debit cards in the victim's name, making unauthorized purchases and withdrawals even while the victim was hospitalized. The case was investigated by the United States Postal Inspection
justice.gov
Tavoy Farquharson, a 32-year-old Jamaican national, was charged with conspiracy to commit mail fraud for operating a lottery scam that defrauded victims of at least $9.5 million between March and July 2023. Farquharson and his co-conspirators contacted victims by mail and phone, falsely claiming they had won lottery prizes and requesting advance payment for taxes and fees via wire transfer, gift cards, cash, checks, and other methods. If convicted, Farquharson faces up to 20 years in federal prison.
justice.gov
Prasad Margabandhu, 48, of Pittsburgh pleaded guilty to bankruptcy fraud and mail fraud for filing multiple fraudulent bankruptcy petitions between March 2019 and June 2022 to delay creditors' collection efforts on an East Carson Street property, and for submitting false statements to an insurance company regarding a June 2022 fire that destroyed the property. He faces up to 25 years in prison and $500,000 in fines at his January 14, 2025 sentencing.
antonmediagroup.com
This article contains multiple unrelated police reports from Nassau County, New York. The fraud-relevant case involves Elizabeth Stern, 52, of Hicksville, who was arrested for stealing approximately $339,958 from her former employer, Superior Air Condition & Heating Systems Inc., over 18 months by forging and cashing company checks to pay personal credit card bills; she faces multiple charges including grand larceny, identity theft, and forgery. The remaining reports detail arrests for illegal massage and prostitution operations, a bomb threat at Family Court, and a burglary with assault incident.
foxnews.com
Scammers are conducting evolved sextortion scams that use fear tactics and images of victims' homes (obtained from data breaches or public listings) to extort money via email, claiming to have compromising videos and demanding Bitcoin payments of around $2,000. The scams falsely reference advanced spyware like "Pegasus" to appear credible, though legitimate cybersecurity experts note these threats are bluffs since actual spyware installation would make ransom demands unnecessary. Protection strategies include blurring your home on Google Maps, avoiding sharing personal information online, and recognizing common red flags in scammer communications.
butlerradio.com
In 2023, the FBI reported $5.6 billion in losses from cryptocurrency fraud involving over 69,000 complaints, representing 50 percent of all financial fraud losses despite being only 10 percent of complaints. The FBI warns that legitimate agencies never request cryptocurrency payments, scammers impersonate financial institutions, and investments that seem too good to be true typically are fraudulent. Pennsylvania experienced $120 million in losses from cryptocurrency fraud, ranking 8th nationally in complaints and 9th in losses.
daijiworld.com
A man in Udupi, India lost Rs 89 lakh to online fraudsters who used an impersonation scam involving fake TRAI and police officials. The scammers called Santhosh Kumar on September 11, falsely claiming he had multiple FIRs filed against him and threatening virtual arrest, then used WhatsApp video calls posing as a cyber inspector to convince him his bank account was involved in money laundering. The victim was deceived into transferring the entire sum to a fraudulent SBI account under the guise of RBI fund verification before realizing the scam when communication abruptly ceased.
the-review.com
Perry Township police held an educational session for approximately 80 seniors to raise awareness about common scams targeting older adults, which cost consumers over $10 billion in 2023 according to the FTC. Police detectives outlined major fraud schemes including "pig butchering" (romance/investment scams where victims lose substantial sums), grandparent scams (fake bail requests), and Social Security benefit threats, with local examples showing losses ranging from $15,000 to nearly $200,000. The presentation covered warning signs of fraud and protective measures, such as establishing family passwords to combat AI voice impersonation and never sharing personal information with unsolicited callers.
cantonrep.com
Perry Township police held an educational session for approximately 80 seniors to warn about prevalent scams costing consumers over $10 billion annually in 2023. Detectives outlined multiple fraud schemes targeting seniors, including "pig butchering" (investment scams where one victim lost nearly $200,000), grandparent scams (one local case involved a $15,000 loss), AI voice cloning, Social Security benefit threats, and Facebook account hacking. Police emphasized warning signs such as pressure tactics, requests for non-credit card payments, and threats, while advising seniors to establish family passwords, verify callers independently, and never share personal information with unsolicited contacts.
citizensvoice.com
State Rep. Mike Cabell hosted a free educational seminar on October 7 for seniors to learn about financial fraud schemes and protection strategies, led by Pennsylvania's Office of Attorney General director David Shallcross. The event covered safety tips and current scam tactics, emphasizing that seniors are frequent targets of evolving fraud schemes designed to steal their money.
aol.com
Americans lost $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022, with crypto investment fraud accounting for $3.9 billion of those losses according to the FBI's 2023 report. Adults over 60 were disproportionately affected, reporting over 16,000 complaints totaling $1.6 billion in losses, and were particularly vulnerable to crypto ATM scams, losing $124 million through that method alone. The FBI recommends verifying caller information, scrutinizing website domains, avoiding crypto kiosk payments for purported law enforcement or government demands, and consulting licensed financial advisors before investing.
goldrushcam.com
A car buying scam ring operating across California and involving at least three suspects—Michael Tanase, Constantin Mustata, and Florin Tanase—sabotaged vehicles listed for sale by pouring oil into radiators to simulate engine failure, then made lowball offers to purchase the damaged cars at a fraction of their value. Michael Tanase was arrested in Oklahoma in July 2024 on an outstanding felony warrant for vandalism and theft by false pretense filed by the Placer County District Attorney's Office, while his two co-suspects remain at large; the scam had been reported to multiple law enforcement agencies across California beginning in early 2024.
decripto.org
Zikica Fiser, a 54-year-old man, was convicted of a sentimental scam targeting a 78-year-old dementia sufferer in Trieste, embezzling EUR 74,200 through false pretenses including impersonating a doctor and fabricating personal crises. The Court of Appeal upheld his sentence of two years and six months imprisonment and ordered him to pay EUR 106,000 in compensation, though no restitution has been made to date. The case was uncovered by the victim's niece and highlights the rising trend of romance scams in Italy, which increased 118% from 2020 and caused EUR 4
spotonflorida.com
A Miramar woman was convicted this week for laundering millions of dollars stolen from romance scam victims on behalf of the criminals who perpetrated the schemes. The case involved vulnerable individuals being defrauded through romance scams, with the defendant playing a key money-laundering role in the criminal operation.
publishedreporter.com
A 30-year-old woman from Miramar, Florida pleaded guilty to money laundering involving millions of dollars stolen from elderly romance scam victims and transferred to foreign co-conspirators. Petitfrere used bank accounts to facilitate the transfer of fraud proceeds obtained through romance scams targeting seniors.
news.yahoo.com
Americans lost $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022, with crypto investment fraud accounting for $3.9 billion of those losses according to the FBI's 2023 report. Seniors over 60 were hit hardest, reporting over $1.6 billion in losses and making up the vast majority of victims using crypto ATMs, losing over $124 million through that method alone. The FBI recommends verifying caller phone numbers, checking for website inconsistencies, and remembering that legitimate agencies will never demand payment via cryptocurrency.
businessinsider.com
Americans lost $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022, with people over 60 suffering the most damage at $1.6 billion in losses across more than 16,000 reports. Investment fraud scams accounted for the majority of losses at $3.9 billion, and seniors were particularly vulnerable to crypto ATM scams, losing over $124 million through that method alone. The FBI recommends verifying caller phone numbers, scrutinizing website domains and emails, remembering that no legitimate government agency demands crypto payments, and seeking licensed financial advice before investing.
dailyhodl.com
AI-powered voice cloning is enabling a new wave of fraud that costs billions of dollars annually, with criminals using synthetic audio to impersonate loved ones and compromise financial accounts in as little as 30 seconds. Deloitte forecasts AI-related fraud losses will reach $30 billion by 2027, up from $12.3 billion in 2023, while the FBI warns the public to limit personal photos and videos on social media, as these can be easily exploited by scammers to create convincing deepfakes and target victims.
finance.yahoo.com
Erika DeMask lost over $1 million of her life savings in a "pig butchering" scam, where a man she met online posed as a romantic interest and gradually built trust before requesting money for fake emergencies and investment opportunities. These scams involve fraudsters establishing prolonged digital relationships to gain victims' trust before stealing their money, with the FBI reporting over $3.5 billion in losses and 40,000 U.S. victims in 2023 alone. DeMask now must sell her home to repay debts and has only $400 remaining.
longisland.com
A 51-year-old New Jersey man was arrested on September 13, 2024, for defrauding a 69-year-old woman in New Hyde Park through an elder scam in which he posed as a Walmart employee and convinced her that her social security number had been compromised. The victim withdrew $20,000 and handed it to the suspect in a parking lot on September 9, 2024, believing he would safeguard the funds; the suspect was apprehended when he attempted to solicit additional money from the victim days later. Tejas Kapur was charged with Grand Larceny 3rd Degree and Attempted Grand Larceny 3
wsbtv.com
Billions of dollars are lost annually to scams targeting older Americans, with the FBI reporting over $3 billion in losses in 2023 alone, including devastating cases such as romance scams, sextortion schemes, and AI-enabled impersonations that have cost some seniors their entire life savings. The AARP Fraud Watch Network receives more than 100,000 calls yearly from affected seniors, and experts testified before U.S. Congress emphasizing that criminals continue to evolve their tactics with increasing sophistication. Lawmakers are responding with bipartisan legislation and recommendations for education, public outreach, and federal efforts to combat spoofing and robocalls as key strategies to protect vulnerable seniors.
goldrushcam.com
At a September 2024 Senate Banking Committee hearing, Senator Elizabeth Warren highlighted the severe impact of romance and cryptocurrency investment scams on older Americans, noting that Massachusetts residents alone lost over $85 million to these schemes in 2023. Testimony revealed that scammers use extended emotional manipulation through dating apps before gradually coercing victims to deposit funds into fake trading accounts that show false profits, ultimately draining their entire savings; crypto scam losses nationally increased tenfold from 2020-2023 to over $110 million, with adults over 60 being three times more likely to lose money in such schemes. Senator Warren advocated for her bipartisan Digital Asset Anti-Money Laundering
cbs8.com
Albert Gietzen, a Vista resident, lost $12,000 in a gift card scam after a fake Microsoft pop-up alert convinced him his computer was compromised and his bank account had been hacked. He withdrew the money, purchased twelve $1,000 Home Depot gift cards, and provided the card numbers to the scammer before being stopped by sheriff's deputies; though Home Depot initially claimed the cards were cancelled, the company later refused a refund, prompting a lawsuit and media attention. After CBS 8 contacted Home Depot, the company agreed to refund Gietzen's $12,000 and settle a portion of his legal fees.
cw34.com
Christine Petitfrere, a 30-year-old Miramar woman, was convicted of laundering over $2.7 million in stolen money from romance scams orchestrated by overseas conspirators, keeping hundreds of thousands of dollars for herself. Romance scams typically involve criminals creating fake online accounts to build trust with victims—often elderly—before stealing their money, with victims losing approximately $1.14 million in a single year. Petitfrere faces up to 10 years in prison at her December sentencing.
cleveland.com
**Scam Losses in Cuyahoga County, Ohio More Than Double; Nationwide Fraud Crisis Escalates**
Reported scam losses in Cuyahoga County jumped from $1.2 million in 2023 to $2.7 million in 2024, with fraudsters using spoofed caller IDs, stolen personal data, and cryptocurrency to steal larger amounts in shorter timeframes. A particularly dangerous trend involves scammers posing as federal agents claiming victims' bank accounts are involved in drug trafficking, convincing them to move savings to crypto "wallets" and in some cases obtaining house sale proceeds—with national fraud losses reaching $
cuyahogacounty.gov
Director of Consumer Affairs Sheryl Harris testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs about sophisticated scams targeting Ohio residents, particularly older adults who comprise the majority of scam reports in Cuyahoga County. Harris described how scammers use psychological manipulation tactics—creating false urgency through threats of arrest or asset seizure, isolating victims from help, and establishing false authority—to route victims' money to fraudsters. The hearing highlighted the need for stronger regulations and corporate accountability from tech and financial companies to protect consumers from increasingly complex fraud schemes.
silive.com
A 32-year-old man from Queens was convicted of grand larceny for defrauding a senior woman on Staten Island of $35,000 in August 2023. The scam involved a fake phone call claiming the victim's bank account was compromised, after which a person (the defendant) posed as a bank employee and collected cash from her home. Om Parkash pleaded guilty and is scheduled to be sentenced in October to one to three years in prison with a restitution order to repay the victim.
yahoo.com
Brandon Dean Guffey, 41, was convicted on four felony counts including elder abuse and theft for defrauding two Wichita residents in their 90s between 2020 and 2022 through a tree-trimming scam, stealing approximately $5,600 combined by altering checks and falsely claiming work remained unpaid. This is Guffey's second conviction for similar yard-work fraud targeting elderly victims with diminished cognitive capacity; he previously pleaded guilty to related crimes in 2014, including convincing an 86-year-old woman to pay $8,800 for a $400 job.
cnbc.com
Americans lost over $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022, with investment scams accounting for $4 billion of those losses, according to an FBI report. Fraudsters typically build trust with victims through dating apps and social media before directing them to fake websites that display false investment growth, then prevent withdrawals or demand fees. The FBI recommends verifying messages independently, scrutinizing websites for misspellings or character substitutions in domain names, and remaining skeptical of promises to earn quick profits with minimal risk.
1043wowcountry.com
Law enforcement in North Central Washington is warning residents about three prevalent scams: fake prize claims (where a woman lost thousands after being told she won a truck), grandparent scams claiming a relative needs bail money, and jury duty scams threatening arrest for failure to report unless a fine is paid. Authorities advise victims to hang up immediately, avoid sharing personal information or sending money, and contact their local county court with any questions rather than engaging with callers.
thebee.news
Scammers are impersonating Mohave County Deputies and calling citizens claiming they have outstanding warrants and must pay fines or face arrest. Law enforcement agencies do not conduct business via phone calls regarding warrants or fines, and citizens should hang up immediately and avoid sharing personal information with these callers.
the420.in
Dr. Ruby Thomas, a doctor in Lucknow, fell victim to an elaborate digital arrest scam in which fraudsters impersonated Mumbai Police and CBI officials via WhatsApp and video calls, falsely accusing her of involvement in the Naresh Goyal scam and threatening execution if she didn't cooperate. After holding her in a five-hour digital hostage situation with fake arrest warrants and fabricated evidence, the scammers extracted Rs 90,000 from her before disconnecting. Similar cases targeting other high-profile professionals, including Dr. Satvika Rathore (Rs 50,000 extorted), reveal a growing trend of cyber extortion