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miningjournal.net
This article describes three common scams targeting elderly people: grandparent scams (where callers pose as distressed relatives or law enforcement to solicit wire transfers), IRS scams (where fraudsters impersonate tax agents to steal money or personal information), and sweepstakes scams (where victims are promised prizes to encourage purchases or payments). The article emphasizes that geographic location offers no protection against these schemes and advises seniors and their families to recognize warning signs such as urgent requests for wire transfers, threats of arrest, and demands for sensitive personal information.
banking.senate.gov
Senator Sherrod Brown testified before the Senate Banking Committee on the escalating problem of scams and fraud targeting Americans, particularly seniors. In 2023, Americans lost at least $10 billion to reported fraud—an increase of over $1 billion from the previous year—with Ohio alone experiencing $126 million in losses; scammers employ increasingly sophisticated tactics including AI voice mimicry, fake bank calls, and romance schemes to target retirees' savings. Brown emphasized that seniors, who represented more than half of fraud losses in Ohio, often hesitate to report crimes due to shame and self-blame, allowing criminals to continue victimizing others.
abc11.com
More than $500,000 was stolen from North Carolina's Food and Nutrition Services program in late August and early September 2024 through phishing scams and credit card fraud targeting EBT cards, with over $2.7 million reported stolen through similar schemes since October 2022. The theft particularly impacts vulnerable families with children and seniors who depend on these benefits for grocery purchases. Authorities recommend FNS participants check balances frequently, use strong PINs, monitor accounts for suspicious activity, and contact their local county social services to request replacement benefits if compromised.
13newsnow.com
In 2023, Virginians lost $265 million to scams, with the FBI's Norfolk office receiving approximately 2,700 elder fraud complaints that year alone. Common schemes include investment scams targeting seniors, jury duty scams impersonating law enforcement, romance scams (the top locally reported type with 17,000 national incidents in 2023), and business email compromise attacks. The FBI advises victims and the public to verify suspicious requests, avoid clicking suspicious links, maintain open communication with vulnerable relatives, and report incidents to IC3.gov or local FBI offices.
theintermountain.com
Tosha Lantz, 31, was sentenced to six months in federal prison for mail fraud involving an elderly man's bank accounts and identity information, stealing a total of $32,400. Lantz transferred funds without authorization and opened credit cards in the victim's name for her personal use while residing in Randolph County. She will also serve three years of supervised release following her prison term.
justice.gov
Five men were indicted in federal court in Brooklyn for defrauding approximately $60 million from investors in Max Infinity Management LLC and related funds through false claims about fees, track record, and SEC registration, while diverting roughly $27 million for personal use including luxury purchases. The defendants—John Cangialosi, Peter Girgis, Gene Sarabella, Enrico Carini, and Caner Otar—charged undisclosed markups exceeding 95% on pre-IPO stock investments and lied about having no upfront fees and prior successful returns. The scheme involved misrepresentations about the fund's operations, fabricate
justice.gov
**Summary:**
Roslyn Weems, a 52-year-old Mississippi woman previously employed in Portsmouth, New Hampshire, pleaded guilty to wire fraud for stealing approximately $52,000 in rental income from her employer's luxury coastal Maine property in July 2021. Weems intercepted rental payments by diverting them to accounts under her control rather than the property owner's account and used the funds for personal benefit. She faces sentencing on December 19, 2024, with potential penalties including up to 20 years in prison, a $250,000 fine, and mandatory restitution.
kisselpaso.com
A viral TikTok trend in Texas encouraged users to exploit what was falsely claimed to be a Chase Bank ATM "glitch" by depositing bad checks and withdrawing cash before they were flagged—a practice known as check-kiting. Chase Bank froze thousands of accounts involved in the scam, left many customers with substantial negative balances, and referred cases to law enforcement, exposing participants to potential criminal charges including fines and up to one year in prison for misdemeanor check fraud.
bankrate.com
Scammers employ multiple tactics to steal credit card information, particularly capitalizing on economic changes like potential Federal Reserve rate cuts. Common scams include interest rate reduction schemes, student loan forgiveness offers, grandparent emergencies, and fake charity websites—all designed to pressure victims into providing payment information. To protect yourself, contact your lender or issuer directly rather than responding to unsolicited offers, verify website URLs carefully, and be skeptical of guaranteed results and limited-time offers.
therecord.media
The U.S. Treasury Department sanctioned Cambodian billionaire Ly Yong Phat and his businesses for alleged human trafficking and forced labor at online scam centers that defraud unsuspecting individuals, including Americans, through romance scams and cryptocurrency schemes. Hundreds of victims from multiple countries were rescued from compounds including the O-Smach Resort, where workers were forced to labor up to 15 hours daily under threats of violence, beatings, and sexual trafficking. The sanctions target the infrastructure supporting these scam operations while highlighting widespread corruption and official complicity in Cambodia that has enabled traffickers to operate with impunity.
cbsnews.com
In 2023, cryptocurrency scams cost Marylanders nearly $94 million, with the state ranking 13th worst hit nationally among approximately 58,000 U.S. complaints, according to an FBI report. These scams frequently use emotional manipulation and romance tactics to lure victims into fraudulent investment schemes, with perpetrators collecting personal and financial data to facilitate theft. Experts recommend verifying online contacts, protecting cryptocurrency wallets, and remaining cautious of quick-return investment pitches, particularly when emotionally vulnerable.
news.trendmicro.com
Security experts warn of an evolving sextortion scam that uses victims' home addresses and photos sourced from Google Maps to increase psychological pressure and extract Bitcoin payments of $2,000-$2,200. The emails falsely claim the sender has compromised the victim's computer and recorded them via webcam, threatening to release fabricated videos to their contacts within 24 hours unless ransom is paid. The FBI recommends victims not comply with demands, avoid sending compromising images, cover webcams, and report incidents to law enforcement at 1-800-CALL-FBI or tips.fbi.gov.
nasdaq.com
Cristine Petitfrere from Florida pleaded guilty to operating romance scams that defrauded victims of millions of dollars; she laundered over $2.7 million and earned hundreds of thousands in fees with a co-conspirator, facing up to ten years in prison at sentencing. The case highlights the widespread impact of romance scams, which caused Americans $1.14 billion in losses in 2023, often targeting elderly individuals with both severe financial and emotional harm. Additionally, a Nevada man was convicted of fraudulently obtaining $11.2 million in COVID-19 relief funds through fake Paycheck Protection Program loan applications.
heraldstandard.com
Older adults are frequent targets of financial exploitation, both through remote scams and by trusted individuals with power of attorney. In one notable Fayette County case, a woman was charged with over 1,600 felony counts for allegedly stealing more than $690,000 from an elderly dementia patient over several years after being granted power of attorney. Experts recommend careful selection of financial agents, maintaining oversight of accounts, and awareness of common scams like "romance scams," which cause the greatest monetary losses to seniors.
fox56.com
Representative Mike Cabell is hosting a free educational seminar in Dallas, Pennsylvania on October 7 to help seniors recognize and protect themselves from financial fraud schemes. The event, led by David Shallcross from the Pennsylvania Office of Attorney General, will cover safety tips and current holiday scams targeting older residents. Reservations are required by September 30 by calling 570-675-6000.
hampshirereview.com
The U.S. Attorney's Office in West Virginia launched an educational outreach campaign to inform seniors about financial fraud risks, with U.S. Attorney William Ihlenfeld conducting the first event at a Morgantown senior living community. The initiative, part of the Department of Justice's Elder Justice Initiative, aims to raise awareness about common scams targeting older adults—both from strangers and trusted individuals like family members and caretakers—and provide protective strategies. Additional events are planned across Northern District senior facilities, with fraud reporting available at 304-234-0100.
observer-reporter.com
Older adults are frequent targets of financial exploitation through both remote scams and personal relationships. A Fayette County case exemplified the risks of power of attorney arrangements: a woman was charged with over 1,600 felony counts for allegedly stealing more than $690,000 from an elderly dementia patient over several years after being granted power of attorney in 2015. Experts recommend carefully vetting who receives power of attorney, monitoring financial accounts regularly when mentally capable, and remaining vigilant against "romance scams," which cause the largest monetary losses to older adults, typically through internet-based schemes using false personas.
hindustantimes.com
A 37-year-old Mumbai lawyer was robbed of ₹5 lakh by two men posing as crime branch officials who approached him at an ATM and forced him into a car after inspecting his bag. The Khar police have registered a case against the unidentified perpetrators, who used the pretense of conducting an investigation to extract the money that the lawyer was carrying to deposit into customer accounts for his family's tourism business. This incident mirrors a similar scam where an IT professional from Vasai lost ₹1.41 crore to fake law enforcement officers using "digital arrest" tactics.
nbcnews.com
In 2023, U.S. victims reported $5.6 billion in losses to cryptocurrency scams, with people aged 60 and older filing over 16,000 complaints accounting for $1.6 billion of those losses. The majority of losses ($4 billion, a 53% increase from 2022) came from "pig butchering" investment scams, where fraudsters build fake romantic or friendship relationships with victims before convincing them to invest in bogus cryptocurrency platforms, often using crypto ATMs. Older adults are disproportionately targeted because they typically hold more wealth and are less familiar with cryptocurrency technology, according to the FBI and AARP.
chicago.suntimes.com
Shalender Singh lost nearly $20,000 in an investment scam after a stranger contacted him on WhatsApp claiming to represent a legitimate investment firm and promising 30% returns through cryptocurrency. The scammer built trust over months by providing accurate market advice initially, added Singh to investor chat groups, and showed fake growth on a fraudulent app, but blocked him when he attempted to withdraw funds. According to the Better Business Bureau, investment scams are surging—particularly cryptocurrency and romance-based schemes—with reported losses reaching a median of $4,000 in 2023 and nearly $6,000 by mid-2024, with 80% of victims losing money and scammers
infosecurity-magazine.com
Approximately 3,000 international victims of fraud facilitated by Western Union will receive a second distribution of $18.5 million in reimbursements, bringing the total compensation to over $420 million for more than 175,000 victims since the fund's establishment. The frauds, stemming from a 2017 deferred prosecution agreement, involved grandparent scams, lottery/sweepstakes scams, and romance scams, with Western Union having agreed to forfeit $586 million total after acknowledging it aided and abetted these schemes through complicit employees who failed to prevent fraudster activity. The Justice Department anticipates additional distributions in the coming months as it works
justice.gov
Tosha Lantz, 31, of Texas was sentenced to 6 months in federal prison for defrauding an elderly West Virginia man of $32,400 through unauthorized bank transfers and fraudulent credit card openings using his personal information. Lantz will also serve three years of supervised release following her incarceration.
wrcbtv.com
Karl Hampton, a 65-year-old Chattanooga man, was sentenced to 60 months in prison for defrauding an 86-year-old widow with dementia of over $1.2 million between 2018 and 2020. After meeting the victim while working as an exterminator, Hampton gained her trust, obtained Power of Attorney, and systematically drained her bank accounts, took out a $500,000 line of credit in her name, and used her credit cards to purchase luxury items including vehicles and jewelry. Hampton was ordered to pay $1.2 million in restitution, and his wife Deborah pleaded guilty to money laun
news.slashdot.org
Americans lost $5.6 billion to cryptocurrency fraud schemes in 2023, with the FBI receiving nearly 70,000 complaints involving bitcoin, ether, and other digital currencies. Investment fraud was the most prevalent scheme, accounting for $3.96 billion of the total losses, and the decentralized nature of cryptocurrency combined with irreversible transactions makes recovery of stolen funds extremely challenging.
vice.com
Americans lost more than $5.6 billion to cryptocurrency scams in 2023, representing 45 percent increase from 2022 and nearly half of all financial fraud losses that year, according to an FBI report. Investment scams accounted for nearly 71 percent of crypto losses ($4 billion), with fraudsters also using call centers, government impersonation, and dating sites to target victims; notably, people over 60 filed nearly 17,000 complaints and lost $1.6 billion, making them the most victimized age group despite crypto's popularity with younger generations. The FBI attributes crypto scams' prevalence to the technology's decentralized nature, irrevers
cbc.ca
Scammers in Lethbridge, Alberta used AI voice-changing software to impersonate grandchildren in fraud calls, convincing victims to send money for emergencies; two men were arrested after allegedly collecting funds as local couriers for the scheme. The technology requires only a three-second audio clip from social media to recreate a victim's loved one's voice, making the scam more convincing and harder to detect than traditional grandparent schemes. Police note that organized criminals quickly adopt new technologies, and law enforcement struggles to keep pace with rapidly evolving cyber tools, though tracking financial transfers remains an effective investigative approach.
bankinfosecurity.com
In 2023, cryptocurrency scams surged dramatically in the United States, with victims reporting $5.6 billion in losses—a 45% increase from 2022—across more than 69,000 complaints to the FBI's Internet Crime Complaint Center. While seniors over 60 were most frequently targeted, people aged 30-39 also experienced significant losses, with investment scams involving bitcoin and other virtual currencies accounting for nearly 71% of total losses; fraudsters typically built rapport with victims through social media and email before moving conversations to encrypted platforms. Cryptocurrency kiosks were increasingly exploited in fraud schemes, with over 5,500 complaints involving $189 million in losses
coindesk.com
Investors lost a record $5.6 billion to crypto scams in 2023, a 45% increase from 2022, with investment fraud schemes accounting for $4 billion of losses, according to FBI data. While crypto complaints represented only 10% of total fraud reports, they comprised nearly half of all financial losses; victims over age 60 reported the highest losses at $1.24 billion. The FBI warned that many scammers operating these "pig butchering" schemes are human trafficking victims forced to conduct fraud operations from compounds in Southeast Asia.
justice.gov
The U.S. Department of Justice distributed $18.5 million from forfeited Western Union funds to approximately 3,000 fraud victims, representing the sixth distribution under the Western Union Remission Fund. Through two phases, the fund has now distributed over $420 million to more than 175,000 victims who received full compensation for losses caused by fraud schemes that Western Union aided and abetted, including grandparent scams and lottery/sweepstakes schemes targeting seniors. Western Union agreed to forfeit $586 million total following a 2017 deferred prosecution agreement for violations including the Bank Secrecy Act and wire fraud facilitation.
gantnews.com
Rep. Mike Armanini partnered with the Pennsylvania Department of Banking and Securities to host two Senior Scam Jam educational events in the 75th District designed to teach older adults how to identify and avoid common scams that lead to identity theft and financial fraud. The interactive seminars took place on September 17-18 in DuBois and Ridgway, with support from local district attorneys' offices, and covered red flags for spotting scams and procedures for reporting suspected fraud.
mybuckhannon.com
The U.S. Attorney's Office for West Virginia launched an educational outreach campaign to protect seniors from financial fraud, with U.S. Attorney William Ihlenfeld conducting awareness events at senior living communities across the Northern District. The initiative addresses the prevalence of elder fraud in West Virginia, including scams by both strangers and trusted individuals like family members and caretakers, emphasizing that seniors' trustworthiness and accumulated savings make them vulnerable targets. Additional educational events are planned at assisted living facilities and senior communities as part of the Department of Justice's Elder Justice Initiative.
timesofindia.indiatimes.com
A woman in Chandigarh was defrauded of Rs 2.3 lakh by online scammers who promised her a job after she found their contact number on Google; police registered a case. The article also highlights similar online job scams affecting other victims, including a man who lost Rs 49.33 lakh to fraudsters posing as UK company recruiters, and a woman arrested for defrauding over 50 people of Rs 3 crore with false promises of healthcare jobs in Ireland.
flaglerlive.com
An 83-year-old Maryland woman named Mae fell victim to tech support fraud when she clicked on a fake Safari warning, which led scammers to manipulate her into purchasing gift cards worth thousands of dollars over 10 hours. The case illustrates a broader problem: an estimated $8 billion is stolen annually from seniors age 60 and older through stranger fraud, with gift cards becoming an increasingly common payment method for criminals because they lack consumer protections similar to credit and debit cards. The article reveals systemic failures in federal regulation, inadequate retailer safeguards, and the profitable role that technology companies and retailers play in the gift card fraud ecosystem, where "everybody but the victim makes money."
forbes.com
A 52-year-old North Carolina musician named Michael Smith was arrested and charged with fraud for allegedly using artificial intelligence to create hundreds of thousands of songs, then streaming them through bot accounts on platforms including Spotify, Apple Music, and YouTube Music to fraudulently generate over $10 million in royalty payments between 2017 and 2024. Federal authorities describe the scheme as "brazen fraud" and the first of its kind involving artificially inflated music streaming, with Smith working alongside unnamed co-conspirators including an AI music company CEO and music promoter. The scam diverted millions in royalties that should have been paid to legitimate musicians and rights holders.
ketv.com
**Type:** Publishers Clearing House Scam / Elder Fraud
**Victim:** Monty Thompson, Iowa resident
**Outcome:** Monty lost over $8,000 in two months and died by suicide on July 24th after being scammed.
Monty Thompson was targeted by offshore scammers claiming he had won millions of dollars and a Ford F-150 from Publishers Clearing House, but was required to pay taxes and fees upfront before receiving his prize. After losing over $8,000 and facing continued contact from the scammers (who called over 20 times), Monty took his own life. The Iowa Attorney
finance.yahoo.com
Chester Frilich of Concord, California lost over $200,000 to scammers posing as Xfinity and FTC agents who claimed he was under investigation for wire fraud and convinced him to transfer funds through couriers and UPS. By withdrawing money from Certificate of Deposit and IRA accounts to pay the scammers, Frilich incurred approximately $30,000 in early withdrawal penalties and taxes, which the IRS now threatens to collect through a lien on his home. The article explains how early withdrawals from tax-advantaged accounts can create additional financial liability beyond the fraud itself.
decripto.org
On September 2, 2024, Ghanaian authorities arrested 487 people (257 women and 230 men) connected to QNet, a Malaysia-based pyramid scheme operated by founder Vijay Eswaran that lures victims with false promises of high investment returns while relying primarily on recruitment rather than legitimate product sales. The arrests occurred despite a November 2022 court ban on QNet's operations in Ghana and followed a February 2023 crackdown that netted 60 arrests, highlighting the scheme's persistence and suspected links to human trafficking and labor exploitation in the country.
aarp.org
Penny Mashburn signed up for magazine subscriptions thinking she was supporting a school fundraiser, but the scam led to years of telemarketer harassment and charges that escalated from $39 to $199 per subscription across multiple companies, ultimately costing her much of her savings. Penny and her sister Nancy's investigation into the fraud helped expose a 20-year conspiracy that defrauded over 150,000 victims nationwide of millions of dollars, ultimately leading them to testify in federal court to help shut down the operation.
finance.yahoo.com
Scammers are operating fake websites and social media channels to sell counterfeit or unverified Ozempic to consumers, resulting in an estimated $6 million in losses from approximately 9,000 victims in just the first five months of 2024 on a single platform alone. Victims lose $700 per transaction on average for fraudulent one-month supplies, while exposing themselves to serious health risks from unregulated products that lack proper safety testing and medical oversight. Experts warn that losses could exceed $100 million annually across multiple platforms, with the scam targeting people seeking to circumvent drug shortages or reduce costs.
newpittsburghcourier.com
Elder fraud losses reached $3.4 billion in 2023 (a 14% increase from 2022), with January-May 2024 showing $1.6 billion in losses—a double-digit increase—according to FBI Internet Crime Complaint Center data. In Houston, Keith Jones was indicted for allegedly defrauding a 92-year-old dementia patient out of his home by falsely claiming property tax obligations and coercing him to sign deed documents worth approximately $30,000. Experts emphasize that reporting fraud, community awareness, and education are critical to protecting vulnerable seniors from increasingly sophisticated scams targeting the elderly, particularly in communities of color
hindustantimes.com
A USC Dornsife study published in Cerebral Cortex found a correlation between vulnerability to financial scams and early-stage Alzheimer's disease, specifically linking poor financial decision-making to thinning of the entorhinal cortex—a brain region that shows early signs of Alzheimer's. Researchers examined adults aged 70 and older with no clinical cognitive impairments using MRI scans and financial vulnerability assessments, finding that those susceptible to financial exploitation had measurably thinner entorhinal cortexes. The study suggests that assessing financial decision-making skills in older adults may help identify early cognitive decline, though financial vulnerability alone should not be considered a definitive indicator
noozhawk.com
This educational article examines how financial fraudsters are becoming increasingly sophisticated through advanced tools like AI, with seniors (ages 60+) being particularly vulnerable targets due to larger savings and lower tech awareness. The piece details common fraud methods including phishing scams, tech support/customer service impersonations, social media investment schemes, and romance scams, noting that the FTC reported $8.8 billion in fraud losses in 2022, with seniors accounting for over $3 billion despite filing fewer reports than younger victims. The article emphasizes that anyone—regardless of age or financial literacy—can fall victim to these schemes and advises vigilance against unsolicited communications, suspicious links, and impersonations of
theweek.com
UK fraud complaints reached a record high of 8,734 cases from April to June, with nearly half upheld by the Financial Ombudsman Service, representing a significant increase from 6,094 complaints in the same period the previous year. Authorised push payment (APP) fraud accounted for over half the complaints, resulting in £459.7 million in losses in 2023, with scammers using impersonation, fake goods sales, and romance scams as primary methods. While banks voluntarily reimburse some victims, mandatory refund schemes were scaled back to £85,000 per claim following pressure from financial industry lobbyists, leaving many fraud victims with limited recourse
ministers.treasury.gov.au
Australian Assistant Treasurer Stephen Jones discusses the government's efforts to combat scams that cost Australians $2.75 billion in losses last year, down from a peak of $3 billion but still a significant problem. He explains that scams have become increasingly sophisticated, involving overseas call centers and data operations, and outlines new legislation requiring banks, telecommunications companies, and social media platforms to implement stronger safeguards such as detecting out-of-character transactions and adding friction to payment systems. The government has also established a National Anti-Scam Centre to coordinate defensive efforts against these criminal operations.
fintech.global
Financial fraud in Lithuania has surged dramatically, with reports increasing 13% since 2018 while case resolutions have plummeted over 70%, exacerbated by criminals' use of advanced technologies including AI deepfakes (which rose 3,000% between 2022-2023) and Authorised Push Payment (APP) fraud accounting for over 60% of financial crimes. Law enforcement and financial institutions are addressing the crisis through enhanced data-sharing protocols introduced in August 2024 and technological interventions such as transaction delays with warning messages, while also tackling obstacles like false identities and money laundering schemes. The collaboration between authorities, fintech companies, and financial institutions is critical
lovemoney.com
Financial fraud complaints reached a record high in Q1 2024, with the Financial Ombudsman Service receiving 8,734 complaints (up 2,000 from the previous year), predominantly involving authorized push payment (APP) scams and romance fraud schemes. UK fraud losses totaled £1.2 billion in 2023, yet regulators are simultaneously scaling back victim compensation by reducing the reimbursement threshold from £415,000 to £85,000, leaving high-value fraud victims with significantly reduced protection. The article recommends six protective measures including hanging up on unsolicited calls, avoiding advance payment schemes, and being skeptical of pressure tactics and offers that sound too good to
justice.gov
The U.S. Attorney's Office for the Northern District of West Virginia launched an educational outreach campaign to inform older residents about financial fraud and elder abuse risks. U.S. Attorney William Ihlenfeld conducted the first event at a Morgantown senior living community, highlighting how seniors' trustworthiness and accumulated savings make them vulnerable to both stranger scams and fraud by loved ones or caretakers. Additional awareness events are planned across the region as part of the Department of Justice's Elder Justice Initiative.
shorenewsnetwork.com
On September 3, Middletown Police arrested 24-year-old Canadian Alan Labranche-Bolic for operating a bail bond scam in which he posed as a bail bonds agent and stole $20,000 from a local resident by falsely claiming their daughter had been arrested. Police set up a sting operation to apprehend Labranche-Bolic when he returned to collect a second $30,000 payment, and he now faces felony theft, attempted theft from a senior, and conspiracy charges.
paymentsjournal.com
In August, crypto phishing attacks affected approximately 9,145 victims who collectively lost $66 million, a 215% increase from the previous month, though one victim's $55 million loss significantly inflated the total. Criminals use phishing tactics and "address poisoning" scams to trick victims into revealing private wallet keys or sending funds to fraudulent addresses, exploiting the anonymous nature of cryptocurrency which makes fraud investigation difficult. The article notes this is part of a broader trend of social engineering attacks where cybercriminals impersonate legitimate companies and brands to manipulate users into compromising their financial information.
rcrwireless.com
Gen Z is more than four times as likely to fall for online scams than Baby Boomers, making them prime targets for fraudsters who exploit their heavy reliance on mobile devices and the critical importance of digital identity to their social and professional lives. Scammers use tactics including fake profiles and impersonation, phishing, social engineering, and deceptive websites to steal personal information, financial details, and identities for unauthorized purchases, account takeovers, and blackmail. The consequences of identity compromise are particularly severe for Gen Z due to the interconnected nature of their digital and real-world identities.