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pulse.com.gh
· 2025-12-08
Romance fraud causes billions in annual losses globally, with the United States leading at $697.3 million lost by nearly 59,000 victims in 2024, followed by the United Kingdom (£106 million), Australia ($33 million), Canada ($25 million), and Germany ($20 million). These organized crime schemes use fake profiles, stolen images, and emotionally manipulative tactics to build trust with victims before requesting money, often targeting vulnerable individuals through dating apps and social media platforms. The COVID-19 pandemic accelerated romance scam prevalence as lockdowns drove millions online, and scammers increasingly overlap these schemes with other financial crimes such as fake investment and money laundering operations.
local.aarp.org
· 2025-12-08
North Carolina's Attorney General, Secretary of State, and AARP released an educational video called "Summer Scam Jam" to help residents identify and avoid seasonal scams including toll road cons, travel fraud, ticket schemes, and disaster relief scams. The initiative addresses the $12.5 billion in documented fraud losses reported in 2024, noting that for every reported senior scam case, 44 go unreported, and encourages victims to report fraud through the state's hotline and website.
wdrb.com
· 2025-12-08
The Publishers Clearing House (PCH) scam remains a prevalent fraud targeting seniors, who are deceived by official-looking letters claiming they have won large sums of money (such as $1.6 million) and instructing them to deposit checks and send back fees for taxes and processing. Legitimate PCH winners are notified through personal visits and never asked to send money back, making any request for payment a clear indicator of fraud.
orilliamatters.com
· 2025-12-08
An elderly Orillia, Ontario woman was defrauded of $100 by a man posing as a city bylaw officer who appeared at her door claiming she owed a fine for weeds in her flowerbed. The victim, who was groggy from medication when the well-dressed man (appearing to be a 50-year-old white male) requested cash payment, only realized the scam after discussing it with a caregiver and confirmed with the city that no complaint had been filed against her property. City officials confirmed that legitimate bylaw officers wear identifiable uniforms, carry ID, and process fines through official channels, not through cash payments at homes.
finance.yahoo.com
· 2025-12-08
The New York StateWide Senior Action Council identified Medicare fraud in nursing homes as its "Fraud of the Month for July," highlighting that while Medicare typically does not cover long-term nursing home care, it does cover medically necessary short-term skilled nursing facility (SNF) care, making SNFs frequent targets for fraud and abuse. The council recommends seniors review their Medicare Summary Notices and Explanations of Benefits for duplicate or unauthorized charges, avoid signing unfamiliar forms, verify services were actually received, refuse gifts for facility selection, and report concerns to the NYS Senior Medicare Patrol at 800-333-4374 or via www.nysenior.org.
wwaytv3.com
· 2025-12-08
North Carolina officials launched a statewide initiative to combat Bitcoin ATM scams, which have caused victims millions of dollars in losses with cryptocurrency-related crime jumping nearly 1,300% from 2017 to 2023. The typical scam involves fraudsters impersonating trusted individuals via phone calls and directing victims to Bitcoin kiosks for urgent withdrawals, with seniors over 65 being the primary targets. Officials are encouraging businesses to post warning signs at crypto machines and urging the public to avoid unexpected cash withdrawals, delete suspicious messages, and report suspicious activity to local law enforcement or the NC Secretary of State.
newsbreak.com
· 2025-12-08
A 74-year-old Massachusetts woman lost approximately $450,000 of her retirement savings in a year-long romance scam where perpetrators impersonated country music star Vince Gill and his daughter, fabricating a story about divorce and legal troubles to extract money through wire transfers, checks, and cash. Despite warnings from banks, law enforcement, and family members, the victim continues to believe the online relationship is genuine. Santa Barbara County District Attorney investigators emphasize that romance scams are particularly difficult to prevent due to emotional manipulation tactics like "love bombing," and recommend that concerned family members approach victims with empathy while asking non-judgmental questions and contacting authorities if suspicious activity is detected.
finance.yahoo.com
· 2025-12-08
Tucoemas Federal Credit Union partnered with Carefull, an AI-powered financial safety platform, to protect its older members and their families from fraud and scams through real-time transaction monitoring, credit activity alerts, and suspicious message analysis, backed by $1M in identity theft insurance. The partnership complements Tucoemas' existing PrimeTimers program for older adults and reflects the credit union's commitment to serving its growing population of members over 65 in California.
mondaq.com
· 2025-12-08
The Department of Justice's Criminal Division has established three enforcement priorities—focus, fairness, and efficiency—to guide white-collar crime prosecution under the Trump administration. Elder fraud is explicitly identified as a priority alongside healthcare, securities, trade, and customs fraud, with prosecutors directed to target cases involving senior-level personnel, demonstrable losses, and victims' compensation. The Department aims to balance rigorous prosecution of significant threats to U.S. interests with fair application of the law that avoids punishing legitimate business risk-taking.
mercurynews.com
· 2025-12-08
A Fresno man was arrested after scamming an elderly Sausalito resident out of $25,000 and attempting to obtain another $25,000 through an impersonation fraud scheme. The scammers posed as representatives from Apple, Wells Fargo, and federal agencies, convincing the victim her bank account was compromised and instructing her to hand over cash to a courier; the victim alerted police when attempting to make a second payment, leading to the arrest of 35-year-old Jasvir Singh on charges of embezzlement from an elderly person and obtaining money by false pretenses.
ntd.com
· 2025-12-08
ICE arrested Chinese national Jian Chen in New York on grand larceny charges, marking the second arrest of a Chinese national for similar fraud in the state within three months. Chen is part of a larger fraud ring that defrauded approximately 300 victims across 37 states, stealing over $5 million with suspected fraudulent funds totaling more than $16 million; two other members, Rihui Yan and Hui Chen, were arrested on related charges for targeting elderly individuals, including an attempt to defraud an elderly couple of $20,000 and another elderly resident of $40,000.
justice.gov
· 2025-12-08
**Summary:**
Roger Roger, a 41-year-old Costa Rica resident, was sentenced to over 15 years in prison for leading an international telemarketing fraud scheme that defrauded hundreds of victims, many elderly, of over $4 million. The scheme involved co-conspirators posing as U.S. government officials using Voice Over Internet Protocol technology to convince victims they had won sweepstakes prizes, then soliciting up-front payments for non-existent prizes. Roger was ordered to pay $3.3 million in restitution and forfeit $4.2 million.
foxnews.com
· 2025-12-08
Two Chinese nationals, Jian Chen and Rihui Yan, were arrested by U.S. Immigration and Customs Enforcement for defrauding elderly Americans; Chen conned a 63-year-old woman out of $42,000 and attempted to obtain nearly $100,000 more in New York, while Yan targeted a Wyoming County couple attempting to steal their $20,000 life savings. Both suspects are being held without bond pending removal, and a third Chinese national was previously arrested on similar fraud charges in October 2024.
deccanchronicle.com
· 2025-12-08
A 68-year-old resident of Hyderabad was scammed out of Rs. 1.46 lakh after responding to a YouTube advertisement falsely promising to buy an old Rs. 20 coin for Rs. 50 lakh; a fraudster posing as "Raj Gyani" extracted the money through multiple requests for payments under various pretexts before demanding an additional Rs. 1 lakh. Police advised the public to avoid transferring money to unknown individuals for extraordinary offers on social media and video platforms, and to verify all communications and preserve transaction records before engaging in online transactions.
fox29.com
· 2025-12-08
Two Delaware County seniors each lost approximately $9,000 in a phone scam where callers impersonated their adult children claiming to be in accidents, then posed as bail bondsmen demanding cash to prevent jail time. The scammers used rideshare services to send couriers to collect the money wrapped in shoeboxes, with funds ultimately transported to Newark, New Jersey and Reading, Pennsylvania. Police urge residents to hang up on such calls and contact authorities, noting that legitimate law enforcement never demands cash payment.
port.ac.uk
· 2025-12-08
A University of Portsmouth study of 2,000 UK adults found that fear of fraud is significantly affecting wellbeing, particularly among women over 75, with 64% experiencing at least one attempted fraud in the past six months. Telephone calls (especially landlines) were the primary scam method, and researchers identified fraud fear as a potential "hidden epidemic" affecting lonely and previously victimized elderly adults, with some so anxious about the topic they refused to participate in the study. The researchers caution that awareness campaigns must be carefully designed to educate without inadvertently increasing anxiety and fear in vulnerable populations.
calgary.citynews.ca
· 2025-12-08
A 34-year-old Quebec man was charged with fraud, money laundering, and identity theft after defrauding a Calgary senior of over $300,000 in a cryptocurrency scam. Beginning in June 2022, the suspect impersonated the victim's grandson claiming legal trouble, then posed as a lawyer directing her to make daily bitcoin ATM deposits for fake bail and legal fees over six weeks. Calgary police executed a search warrant in the Montreal area and arrested the suspect, who will appear in court in August.
pennlive.com
· 2025-12-08
A 44-year-old man from Brooklyn was charged with theft, impersonation of a federal employee, and conspiracy after stealing over $555,000 in gold bars from an elderly Lancaster County woman in April. The scammers accessed her computer, convinced her to convert investments to gold, then posed as federal employees to collect the bars under the guise of securing them in a Philadelphia Federal Reserve vault. This case reflects a national trend of gold bar scams targeting seniors, which cost Americans $219 million in 2024, with authorities advising victims to hang up immediately on any requests to buy gold or withdraw money and to verify claims directly with official sources.
bankingjournal.aba.com
· 2025-12-08
The ABA Foundation's Safe Banking for Seniors program provides free educational resources and materials to help bankers teach older Americans how to protect themselves from financial scams and fraud. The program aims to equip seniors with personal finance knowledge to avoid becoming victims, as criminals increasingly target vulnerable older populations across all age groups.
mcknightsseniorliving.com
· 2025-12-08
A University of Surrey study published in the Security Journal found that cybercriminals deliberately exploit ageist stereotypes to target older adults for financial fraud, viewing them as wealthy and easily deceived. Researchers identified cognitive decline, social isolation, and high trust in others as vulnerability factors that, combined with societal stereotypes portraying seniors as frail and gullible, make older adults susceptible to online exploitation. The study recommends developing comprehensive education initiatives and support systems that address socioeconomic factors and challenge ageist attitudes to better protect older adults in digital environments.
wfae.org
· 2025-12-08
North Carolina's Attorney General Jeff Jackson launched a statewide initiative to combat cryptocurrency ATM scams that primarily target seniors, in which scammers direct victims to deposit cash into crypto accounts the scammers control. The awareness campaign encourages ATM operators to watch for warning signs such as older adults using machines while on the phone, indicating potential fraud in progress.
newsbreak.com
· 2025-12-08
**Summary:**
Antonio Petrosino, 60, of Union City, New Jersey, was indicted on federal wire fraud and money laundering charges for defrauding elderly and other victims of over $1 million between January 2016 and November 2024. Petrosino posed as a financial advisor, soliciting investment funds under false pretenses while diverting the money for personal expenses including gambling and luxury apartment rent, and issued falsified account statements to conceal the scheme. He faces up to 20 years in prison on each of five wire fraud counts and 10 years on the money laundering charge.
dallasnews.com
· 2025-12-08
In 2024, seniors aged 65 and older reported nearly $4.9 billion in losses to financial scams—a 43% increase from the previous year—with Texas seniors alone filing over 9,473 complaints averaging $489,000 in losses each. Seniors are targeted because they control significant national wealth and often struggle to keep pace with technology, making them vulnerable to romance scams, tech support scams, grandparent scams, government impersonation, and investment fraud. Family members and caregivers can help protect seniors by monitoring account activity, maintaining open communication about financial matters, and encouraging consultation before large transactions, while laws like the 2017 Elder Abuse Prevention
countynewscenter.com
· 2025-12-08
Elder fraud represents a billion-dollar criminal enterprise that targets older adults through technology-based schemes, government impersonation, fraudulent investments, and fear-based tactics. San Diego County has developed a local anti-fraud initiative that has successfully prevented significant financial losses among seniors in the region.
idahocountyfreepress.com
· 2025-12-08
Romance and confidence fraud caused $601 million in damages to 16,504 victims across the United States in 2023, with an average loss of $36,459 per victim. Idaho was hit hardest, with 112 victims losing $6.9 million ($61,784 per person), while scammers posing as online pen pals or relatives in distress targeted victims primarily through email and social media. Elderly victims aged 60 and older comprised approximately 40% of victims and suffered $365.9 million in losses.
ca.news.yahoo.com
· 2025-12-08
A Quebec man was charged with defrauding a Calgary senior of over $300,000 in a grandparent scam that occurred over six weeks in June 2022, in which he impersonated her grandson claiming to need bail money and then posed as a lawyer directing her to make over 300 cryptocurrency deposits. Jeremy Rattray, 34, faces charges of identity theft, fraud over $5,000, and money laundering, and the victim's funds have not been recovered. Calgary police warn seniors to hang up on callers requesting money transfers and note that legitimate officers will never ask for cryptocurrency or gift cards as part of an investigation.
chch.com
· 2025-12-08
A Hamilton couple lost nearly $70,000 in June after fraudsters impersonating a Scotiabank employee convinced them their debit cards were compromised and arranged to collect their cards via courier. The scammers then drained the couple's bank accounts, credit cards, and line of credit within two days, and Scotiabank initially held the seniors responsible for the transactions, claiming no account compromise was found. Hamilton Police report approximately 60 similar cases this year using "social engineering" tactics, and note that recovering stolen funds is extremely rare.
theweeklyjournal.com
· 2025-12-08
In 2024, older adults aged 60 and above reported $4.9 billion in fraud losses nationally—a 43% increase from 2023—with Puerto Rico experiencing a particularly sharp 618% rise to $21.1 million. The most costly schemes targeting seniors include investment fraud ($1.8 billion), tech support scams ($982 million), and romance scams ($389 million), which are considered especially dangerous due to their psychological manipulation tactics and emotional impact on victims. Experts attribute seniors' vulnerability to a combination of factors including the digital divide, lack of technical knowledge, availability of financial resources, social isolation, and the highly sophisticated, professional nature of modern fraud operations that use
wbng.com
· 2025-12-08
Senator Gillibrand expressed concern about proposed budget cuts to the Consumer Financial Protection Bureau (CFPB) and other federal agencies tasked with protecting seniors from fraud and scams. She noted that seniors lost nearly $5 billion to scammers in the previous year and argued that these cuts would undermine the government's ability to combat increasingly sophisticated AI-enabled fraud schemes. Gillibrand called for the Government Accountability Office to assess the potential impact of these budget reductions on senior fraud protection efforts.
waka.com
· 2025-12-08
The Central Alabama Aging Consortium held its annual Elder Justice and Fraud Conference in Wetumpka to educate the public about elder abuse and scams. Elder abuse takes multiple forms including financial exploitation, neglect, and abandonment by caregivers. Conference organizers emphasize the importance of staying informed about evolving fraud tactics and recognizing warning signs of elder abuse.
crescentavalleyweekly.com
· 2025-12-08
The FBI and FTC are warning the public about evolving scams that exploit advancing technology, including AI-generated voice impersonations of law enforcement and government officials. Elderly Americans are particularly vulnerable to romance scams, tech support scams, grandparent scams, government impersonation scams, sweepstakes scams, and home repair scams, with millions falling victim annually. The agencies also warn against business email compromise, charity fraud (especially after disasters), cryptocurrency job scams, VA benefits overpayment scams, and card skimmers, recommending victims verify charitable organizations through trusted databases and use credit cards rather than cash, gift cards, or wire transfers for donations.
rstreet.org
· 2025-12-08
In 2024, reported fraud losses reached $12.5 billion, a 25 percent increase driven primarily by sophisticated investment scams totaling $5.7 billion. Bipartisan legislation called the TRAPS Act proposes creating a federal task force composed of representatives from the Treasury Department, CFPB, FCC, FTC, DOJ, and industry experts to coordinate efforts in combating financially advanced scams and develop recommendations for regulatory and legislative reforms. These efforts are part of a broader government initiative that includes executive orders on check fraud reduction and the GUARD Act to investigate elder fraud using technologies like blockchain.
thederrick.com
· 2025-12-08
This article cannot be summarized as requested. The provided text is a webpage header offering a subscription to TheDerrick.com, followed by a brief educational passage about elder fraud and the Elder Justice Initiative, but the remainder consists of unrelated content (advice columns, horoscopes, medical Q&As, and automotive content) that appears to be archive or navigation elements rather than a coherent article about scams or fraud. To provide an accurate summary for the Elderus database, please provide the complete, relevant article text.
seehafernews.com
· 2025-12-08
Evelyn Cross-Beacham of Milwaukee faces charges of conspiracy to commit money laundering and mail fraud for her role in a tech support scam targeting seniors over 65 across multiple states. She allegedly deposited checks totaling $578,000 from victims who believed they were paying for legitimate computer repairs. Authorities are investigating her connections to a broader scheme defrauding older adults.
ice.gov
· 2025-12-08
Ehis Lawrence Akhimie, a Nigerian national, pleaded guilty to operating a transnational inheritance fraud scheme that defrauded over 400 elderly and vulnerable U.S. victims of more than $6 million. The scheme involved sending personalized letters falsely claiming victims were entitled to multimillion-dollar inheritances and requesting upfront payments for delivery fees and taxes, with funds collected through a network of U.S.-based money mules. Akhimie faces a maximum of 20 years imprisonment, and seven co-conspirators from the United Kingdom, Spain, and Nigeria have also been convicted in connection with this international fraud operation.
justice.gov
· 2025-12-08
Christen Lee Cosgrove, age 40, and Brian Cosgrove, age 37, of Pennsylvania were indicted on federal charges including conspiracy, bank fraud, wire fraud, and money laundering for defrauding a 93-year-old senior citizen and financial institutions of approximately $1 million between October 2022 and May 2023. The defendants allegedly used fraudulent wire transactions to obtain the money and spent it on personal purchases including a house, recreational vehicle, boat, and vacations. The case was investigated by the Internal Revenue Service and Luzerne County District Attorney's Office, with potential sentences of up to 30 years for bank fraud and 20
yellowhammernews.com
· 2025-12-08
Americans over 60 reported over $3.4 billion in fraud losses in 2023, with scammers increasingly exploiting technology to target older adults through fake calls, phishing emails, and data collection via smart home devices. The article identifies five red flags: unsolicited contact, pressure to act immediately, requests for untraceable payments (wire transfers, gift cards, cryptocurrency), demands for sensitive information, and promises that seem too good to be true. Key protective measures include verifying unexpected requests with trusted contacts, using strong unique passwords for smart devices, keeping software updated, securing Wi-Fi networks, and reviewing smart device privacy settings to understand what data is being collected.
countynewscenter.com
· 2025-12-08
Elder fraud is a billion-dollar industry that targets older adults through technology scams, government impersonation, and investment schemes, with San Diego County reporting over 1,000 victims annually and more than $100 million in losses. The San Diego Elder Justice Task Force—a multi-agency coalition—investigates cases, prosecutes offenders, and recovers funds, though actual fraud numbers are believed to be significantly higher due to underreporting. Victims of elder fraud experience severe consequences including financial devastation, shortened lifespans, and mortality rates three times higher than non-victimized seniors.
wjournalpr.com
· 2025-12-08
In 2024, older adults aged 60 and over suffered $4.9 billion in fraud losses nationally—a 43% increase from 2023—with Puerto Rico experiencing a dramatic 618% surge to $21.1 million in losses for the same demographic. The most financially damaging scams targeting seniors include investment fraud ($1.8 billion), tech support scams ($982 million), and romance scams ($389 million), with experts noting that perpetrators operate as sophisticated, organized call centers using psychological manipulation rather than amateur schemes. Seniors remain vulnerable due to a combination of limited digital literacy, available financial resources, social isolation, and reluctance to report crimes, particularly when perpet
observernews.net
· 2025-12-08
A man living in an assisted living facility was scammed out of over $800,000 in a romance fraud scheme that began in 2022 when a scammer posing as a woman on social media built a romantic relationship with him, then convinced him to invest in a fake cryptocurrency broker account. The perpetrator, 37-year-old Otiz Swinton Jr., a convicted felon with a prior history of targeting elderly residents, was arrested in May and now faces 20 pending charges with sentences of 5-30 years each. Romance scams cause lasting emotional and financial devastation to victims, often involving their entire life savings built over decades.
therealdeal.com
· 2025-12-08
Plano couple Sidhartha "Sammy" and Sunita Mukherjee face first-degree felony theft charges for allegedly defrauding over 100 people of more than $4 million through multiple schemes including fake real estate deals affiliated with the Dallas Housing Authority, a fraudulent Paycheck Protection Program loan, and elder scams using spoofed law enforcement emails. The investigation, which began in 2023, revealed an elaborate multi-year fraud operation with one victim losing $325,000; both defendants were arrested and posted $500,000 bonds, though Sammy Mukherjee was subsequently detained by ICE. Investigators believe most of the
tillamookheadlightherald.com
· 2025-12-08
An Eastern Oregon woman lost $600,000 in life savings to a "gold bar scam" in which scammers impersonated federal agents, claimed her accounts were at risk, and convinced her to purchase gold bars for "safekeeping"; local law enforcement prevented an additional $300,000 loss after her sister reported the scheme to the Oregon Department of Justice Consumer Hotline. The scam typically involves fraudsters creating false urgency about compromised finances, instructing victims to convert assets into gold, and dispatching couriers to collect the valuables before disappearing. The Oregon DOJ warns that no legitimate government agency requests gold purchases or home visits for money collection, and urges victims to hang up
imperialbeachnewsca.com
· 2025-12-08
An elderly woman was targeted by the "California Efficiency Group" (CEG), a fake home service company that used social engineering tactics—including a rigged water test and false health claims—to gain access to her home and pressure her into replacing her functioning water filtration system with a cheap substitute for $48 monthly payments. The scam was interrupted before she signed paperwork, but the scammers photographed her driver's license, likely for identity fraud or unauthorized billing purposes. The case highlights how seniors are vulnerable to manipulation through false authority and emotional appeals regarding health and safety concerns.
thehindu.com
· 2025-12-08
Hyderabad Police reported a 75% drop in digital arrest scams in the first half of 2025, with 34 cases compared to 140 in the same period of 2024, attributed to awareness campaigns and advisories. However, senior citizens—particularly those aged 60-80, highly educated, and living alone with children abroad—remain primary targets, as illustrated by recent cases where an 84-year-old lost ₹44 lakh and a 69-year-old lost ₹38.7 lakh after being falsely accused of money laundering and human trafficking. Police emphasize that these scams aim for psychological control and isolation, not just
windsorstar.com
· 2025-12-08
Windsor police are investigating two contractor scams targeting senior homeowners in July, in which elderly victims were driven to banks and pressured to withdraw large sums of money under false pretenses for alleged roofing and repair work. In the first incident, a woman withdrew $13,000 and attempted to withdraw another $13,000 after being driven by a suspect claiming to be Mark Bignam; in the second, a man was lured into withdrawing $10,000 (with an attempted additional $5,000 withdrawal declined) after work allegedly began on his roof. Police are seeking public assistance in identifying the suspects and determining whether the incidents are connected.
mycomoxvalleynow.com
· 2025-12-08
A woman in her 70s lost $1,300 to an identity theft scam after receiving a call from someone posing as her bank, who instructed her from depositing cash into a Bitcoin ATM to "protect" her funds; an alert store employee intervened and prevented the victim from depositing an additional $3,700. The Comox Valley RCMP warns that cryptocurrency machines are never used by legitimate financial institutions, and that scammers create urgency by falsely claiming identity theft or account compromise to manipulate victims into irreversible transactions.
oswegocountytoday.com
· 2025-12-08
Senator Kirsten Gillibrand held a press conference to protest proposed federal budget cuts to agencies protecting seniors from fraud, noting that seniors lost nearly $5 billion to scams in the previous year. Gillibrand called on the Trump administration to maintain funding for agencies like the Consumer Financial Protection Bureau that investigate fraud complaints and requested the Government Accountability Office examine how staffing cuts would impact senior fraud protection efforts.
justice.gov
· 2025-12-08
A 42-year-old Chinese national, Zhigang Lian, was indicted for allegedly orchestrating an imposter scam that defrauded a 76-year-old Belleville, Illinois resident of over $70,000. The scheme began with a fake Apple text message, then escalated when scammers posing as federal agents convinced the victim their identity had been stolen and they needed to withdraw all their bank funds for protection; the victim handed over $25,000 on June 17 and $45,000 on July 1 before Lian's arrest by Illinois State Police. Lian faces charges of conspiracy to commit wire fraud and wire fraud, each carrying
yahoo.com
· 2025-12-08
Senator Kirsten Gillibrand is calling for federal action to protect seniors from fraud, citing concerns that staffing cuts at agencies like the Consumer Financial Protection Bureau are hampering scam prevention efforts at a time when seniors lost $4.8 billion to scammers in 2024. She has requested the Government Accountability Office examine how these cuts affect federal fraud-fighting capabilities and is working on legislation to implement GAO recommendations, including directing the FBI to develop a national strategy against scams targeting older adults.
wwnytv.com
· 2025-12-08
Senator Gillibrand raised concerns about proposed budget cuts to the Consumer Financial Protection Bureau (CFPB) and other federal agencies responsible for protecting seniors from fraud, noting that older adults lost nearly $5 billion to scams in the previous year. She argued that reducing funding to these agencies is counterproductive at a time when artificial intelligence has made financial fraud schemes more sophisticated, and called for an examination of how such cuts would impact senior protection efforts.