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goldrushcam.com
In June 2024, the U.S. Attorney's Office and San Diego FBI recovered over $3.3 million in a coordinated operation targeting fraud schemes against seniors, obtaining more than 40 seizure warrants for $5.6 million since January 2024. The effort highlights California's disproportionate cyber fraud problem, with the state leading the nation in both victim count (over 77,000 in 2023) and losses ($2.1 billion), and emphasizes the need for early reporting of suspected fraud to interrupt transactions before funds are transferred. Common schemes targeting elderly victims include cryptocurrency investment scams (highest losses) and tech support/government impersonation scams
jamaicaobserver.com
Online fraudsters in Bermuda stole an estimated US$1.5 million from senior citizens over an 18-month period, with the Financial Crime Unit investigating 18 cases including one instance where a single elder lost US$250,000. The Bermuda Police Service characterized these schemes as elder abuse, noting that fraudsters exploit seniors' vulnerabilities to obtain personal and banking information, and sometimes involve family members coercing elders into unauthorized transactions. Police have made five arrests and secured two convictions, and are urging the public to help protect seniors by verifying the legitimacy of organizations before sharing personal information.
globalnews.ca
A Toronto man lost his life savings of $1.28 million to an alleged syndicated mortgage fraud scheme operated by Arash Missaghi and Samira Yousefi, who convinced him and his wife to invest equity from their home in supposedly secured private mortgages. Devastated by the financial loss and unable to obtain help from authorities, the man fatally shot both perpetrators and himself in a North York office building in 2024, leaving behind a note blaming them for destroying his family.
timesleaderonline.com
A U.S. Navy veteran in West Virginia lost nearly $2 million when his caretaker, Sam Bunner, obtained power of attorney and emptied his bank and investment accounts; Bunner was sentenced to 10 years in federal prison. Senior citizens in West Virginia are frequently targeted by both strangers (tech support scams, romance scams, government impersonation) and trusted individuals (family members, caregivers) who exploit their longevity, savings, and trusting nature. To protect against such fraud, individuals should resist pressure to act quickly, avoid sending money to online contacts, carefully consider power of attorney arrangements, and secure valuables and financial documents from in-home caregi
weirtondailytimes.com
A U.S. Navy veteran in West Virginia lost nearly $2 million when Sam Bunner, a caretaker who befriended him at a local American Legion, obtained power of attorney and emptied his bank and investment accounts and sold his real estate. The article outlines common elder fraud threats in West Virginia—including caretaker theft, romance and tech support scams from strangers, and family member exploitation—and provides protective measures such as resisting pressure to act quickly, avoiding unsolicited online money transfers, and securing valuables and documents when in-home care is needed.
southfloridareporter.com
This educational piece examines why older adults are vulnerable to financial fraud and exploitation. In 2021, over 90,000 seniors fell victim to fraud totaling $1.7 billion in losses (a 74% increase from 2020), with perpetrators often being family members, caregivers, or friends rather than strangers. Research shows that age-related cognitive decline, emotional factors (like loneliness and isolation), lower digital literacy, and reduced ability to detect deception through body signals all contribute to heightened susceptibility, with some evidence suggesting financial exploitability may be an early marker of cognitive diseases like Alzheimer's.
theintelligencer.net
A U.S. Navy veteran from West Virginia lost nearly $2 million when his caretaker, Sam Bunner, used a power of attorney to drain his bank and investment accounts and sell his real estate; Bunner was sentenced to 10 years in federal prison. The article highlights that seniors in West Virginia face significant vulnerability to both caregiver fraud and stranger scams (tech support, romance, and government impersonation schemes), with recent AI advances making these scams harder to detect. The U.S. Attorney's Office recommends resisting urgency, avoiding unsolicited money transfers, securing valuables, and carefully limiting power of attorney authority to protect vulnerable adults.
ask.un.org
Fraudsters frequently impersonate United Nations employees or representatives to solicit money and personal information from victims through social media, email, phone calls, and other channels. Common schemes include falsely claiming the victim has won a UN award or scholarship, or posing as a UN worker requesting financial assistance. The UN advises people to be cautious when contacted by unknown individuals requesting personal data or funds, and to verify claims through official UN channels.
wvnews.com
A U.S. Navy veteran from West Virginia lost nearly $2 million when Sam Bunner, a caretaker who befriended him at a local American Legion, obtained power of attorney and systematically emptied his bank and investment accounts and sold his real estate, exploiting the victim's declining cognitive abilities; Bunner was sentenced to 10 years in federal prison. The article notes that West Virginia seniors are particularly vulnerable to both caretaker/family fraud and stranger scams (including tech support, romance, investment, and government impersonation schemes), and recommends protective measures such as resisting urgency, avoiding online money transfers, carefully granting power of attorney, using trusts with restrictions
klin.com
Lancaster County, Nebraska residents are experiencing an increase in government imposter scams where fraudsters impersonate law enforcement or court officials, claiming there is an arrest warrant and demanding immediate payment via bitcoin, gift cards, or cash. Scammers may provide fake credentials and personal information to appear legitimate, while some claim residents owe penalties for missing jury duty. The Nebraska Attorney General's Office and Lancaster County Sheriff advise residents never to share financial or personal information with unsolicited callers, disregard caller ID verification, or click links in unexpected messages, and to report suspected scams to the Sheriff's Office at 402-441-6500.
pasadenanow.com
An 81-year-old Alhambra woman lost her entire $720,000 life savings to a cryptocurrency scam after being befriended online and convinced to make wire transfers over three weeks, with her bank failing to intervene despite red flags. Senate Bill 278, authored by Senator Bill Dodd, would require California financial institutions to delay transactions over $5,000 for at least three days if elder fraud is suspected, train employees to identify warning signs, and notify designated emergency contacts or joint account holders of suspicious activity. The bill, which addresses the $23 billion in annual elder financial abuse losses, passed the Senate with support from major senior advocacy groups including AARP, though banking
azbigmedia.com
The FTC reported $10 billion in fraud losses in 2023, with AARP estimates suggesting adults over 60 lose more than $28 billion annually to fraud. Older adults are targeted for their access to substantial savings, available time, and sometimes limited online safety knowledge, with common scams including gift card/refund schemes, romance scams, and cryptocurrency investment frauds. Protective measures include verifying communications, guarding personal information, remaining skeptical of unsolicited money requests, and maintaining open communication with trusted networks and caretakers.
aarp.org
A 77-year-old Seattle college professor was defrauded of over $400,000 after scammers impersonating an FTC official convinced her that her accounts had been hacked and she needed to liquidate her assets into gold bars and cash to avoid arrest. The scam, which represents a growing trend of criminals requesting payment in precious metals or cash, resulted in collective losses exceeding $55 million from May to December 2023, according to FBI reports, with fraudsters increasingly using real government employees' names to establish credibility.
uspis.gov
This is an educational awareness piece from the Postal Inspection Service highlighting common mail-related scams and fraud prevention tips. Key advice includes: never sending money to claim lottery prizes, recognizing suspicious mail indicators (excessive postage, unknown senders), protecting children's online communications, signing credit cards immediately upon receipt, and recognizing that social isolation increases vulnerability to scams among older Americans. The piece encourages reporting mail-related crimes to postal inspectors.
1011now.com
The Lancaster County Sheriff's Office and Nebraska Attorney General's Office reported an increase in government imposter scams in the county, where scammers impersonate local law enforcement or court officials and threaten arrest or jail time unless victims pay immediately, sometimes using fake employee IDs or badge numbers to appear credible. The sheriff's office received 20 calls in one week alone of scams impersonating Captain Jon Vik. Both agencies advise residents to hang up on unsolicited government contacts, never send money through wire transfer, gift cards, cryptocurrency, or payment apps, and instead call government agencies directly at known numbers to verify claims.
m.economictimes.com
A man in Noida, India filed a police report after losing approximately Rs 20,54,464 (roughly $25,000 USD) in a work-from-home scam involving fake hotel rating tasks on Google Maps. After initially investing Rs 50,000, he was asked to pay additional fees to withdraw funds and was subsequently subjected to death threats via Telegram and phone calls when he attempted to recover his money. An FIR was registered against unidentified persons under Indian Penal Code sections for cheating and criminal intimidation, as well as provisions of the Information Technology Act.
presstelegram.com
An 81-year-old California woman lost her entire life savings of $720,000 to a cryptocurrency romance scam after a stranger convinced her to wire funds through her bank in seven transactions over three weeks. Her case sparked Senate Bill 278, which would require financial institutions to delay transactions over $5,000 by at least three days if elder fraud is suspected, train employees to recognize red flags, and notify designated emergency contacts or joint account holders of suspected fraudulent activity. The bill, addressing annual elder financial abuse losses exceeding $23 billion, passed the California Senate with support from senior advocacy groups, though banks initially opposed it over concerns about liability and control over customer finances.
kqed.org
An 81-year-old Alhambra woman lost her life savings in a text-based romance scam after making seven bank withdrawals over three weeks, prompting her to sponsor Senate Bill 278 with California Sen. Bill Dodd. The bill would require financial institutions to delay transactions over $5,000 by at least three days if elder fraud is suspected, mandate employee training on fraud red flags, and require banks to notify designated emergency contacts or joint account holders of suspicious activity. With annual elder fraud losses exceeding $23 billion, the bill passed the California Senate with support from major senior advocacy groups, though initially faced opposition from banking and business lobbies over concerns about liability
justice.gov
**Summary:**
The U.S. Attorney's Office and FBI in San Diego recovered over $3.3 million for elderly fraud victims through a data-driven operation launched in January 2024, obtaining more than 40 seizure warrants for $5.6 million in total. The effort targets sophisticated scams affecting seniors, particularly cryptocurrency investment schemes and tech support/government impersonation scams, with California leading the nation in both number of victims (77,000+) and losses ($2.1 billion) in 2023. Authorities emphasize that early reporting is critical to interrupting transactions and recovering victims' funds before scammers disappear with the money.
lbpost.com
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.
krmsradio.com
Lake area residents are being targeted by scammers who spoof law enforcement caller ID and claim victims have unpaid warrants, missed jury duty, or failed court appearances, demanding immediate payment to avoid arrest. The Camden County Sheriff's Office advises residents to hang up on suspicious calls and report details to local law enforcement rather than complying with payment demands.
panhandlenewsnetwork.com
A U.S. Navy veteran from Charles Town, West Virginia, lost nearly $2 million to his caretaker Sam Bunner, who used a power of attorney to drain the victim's bank, investment accounts, and sell his real estate while exploiting the elderly man's cognitive decline; Bunner received a 10-year federal prison sentence. The opinion piece by U.S. Attorney William Ihlenfeld outlines common elder fraud schemes in West Virginia, including caretaker theft, romance scams, tech support schemes, and family member theft, and recommends protective measures such as resisting pressure to act quickly, avoiding sending money to online contacts, carefully granting power of attorney, using tru
timesofindia.indiatimes.com
A Greater Noida resident, Sandeep Kumar, lost Rs 20.54 lakhs in a work-from-home scam that began in January when he responded to a WhatsApp message offering payment for rating hotels on Google Maps. After being added to a Telegram group, Kumar was asked to invest money alongside rating tasks; when he attempted withdrawal, fraudsters demanded an additional Rs 5 lakh in taxes, and he has since received death threats via Telegram and phone calls. An FIR was filed against unidentified perpetrators under IPC sections 420 (cheating), 506 (criminal intimidation), and IT Act provisions.
calmatters.org
Governor Newsom vetoed California Senate Bill 278, which would have required banks to delay transactions over $5,000 for at least three days if they suspected elder fraud and to notify designated emergency contacts. The veto came despite the bill's passage through the Senate with support from senior advocacy groups like AARP, after 81-year-old Alice Lin lost her entire $720,000 life savings to a cryptocurrency scam despite multiple red flags at her bank. Newsom cited concerns that the bill could prevent legitimate access to funds and stated it needs further legal review to balance consumer protection with individual rights.
cbs19news.com
Elder fraud has reached epidemic proportions, with the FBI reporting $1.6 billion in losses between January and May of this year—a $300 million increase from the previous year—and a 14% surge in elder fraud complaints in 2023. Criminal actors increasingly target older adults because they perceive them as vulnerable and trusting, with the most common schemes being tech support, romance, investment, and government impersonation scams. Geriatrician Dr. Laurie Archbald-Pannone recommends seniors verify unsolicited offers through online searches and report scams immediately without shame, as victim numbers rose 209% and financial losses surged 419% between 2
ocregister.com
Alice Lin, an 81-year-old California woman, lost her entire life savings of $720,000 to a cryptocurrency scam after being convinced by a stranger on a messaging app to make seven bank transfers over three weeks. Her case prompted her to work with Consumer Attorneys of California to support Senate Bill 278, which would require banks to delay transactions over $5,000 for at least three days if they suspect elder fraud, train employees to recognize red flags, and notify designated emergency contacts or joint account holders. The bill, sponsored by Senator Bill Dodd, has passed the California Senate with support from major senior advocacy groups, though it faced initial opposition from banking and business lobbies over concerns about over
sandmountainreporter.com
**Summary:**
The Alabama Securities Commission released guidance on identifying and reporting elder financial abuse in recognition of World Elder Abuse Awareness Day. The FBI estimates seniors lost $3.4 billion to scams in 2023, and Alabama has seen a significant increase in reported cases, rising from 90 in 2022 to 215 in the current year. The ASC advises staying connected with elderly relatives, watching for warning signs such as sudden isolation or new acquaintances interested in finances, and contacting authorities at 800-222-1253 to report suspected exploitation.
wlbt.com
The Federal Trade Commission reported over 170,000 imposter scam reports totaling more than $645 million in losses as of mid-2024, with an average loss of $780 per victim. Pennsylvania's assistant chief deputy attorney general highlighted that wire transfers account for 75% of scams in the state and stressed the need for banks to implement stronger fraud prevention measures similar to those used in credit card protection. Officials urged scam victims to immediately report incidents to their state attorney general's consumer protection division and the FTC to freeze funds and prevent further fraud.
al.com
**Summary:**
Quishing (QR code phishing) is an emerging scam where fraudsters post QR codes in public locations or send them via email/text to direct victims to fake websites impersonating legitimate organizations, collecting personally identifiable information like Social Security numbers and financial details for identity theft and fraud. To protect yourself, verify the source of QR codes before scanning, avoid scanning codes from unsolicited messages, contact relevant organizations to report suspicious codes, safeguard personal information, and block spam messages through your carrier.
kbtx.com
The Federal Trade Commission reported over 170,000 imposter scam cases in the current year, resulting in losses exceeding $645 million with an average loss of $780 per victim. Pennsylvania's Attorney General's office has established a dedicated team to respond to scam reports by contacting victims, freezing funds, and working with law enforcement to shut down fraudulent communications, while urging consumers to report scams immediately to their state attorney general's office and the FTC. Officials are also pushing banks to take greater responsibility for preventing wire and check fraud, similar to their established fraud prevention practices in the credit card industry.
nbcboston.com
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.
indiatoday.in
A 52-year-old businessman in Noida lost Rs 5 lakh to a digital arrest scam in June when a fraudster posing as a Mumbai crime branch official threatened him with arrest for alleged drug smuggling and money laundering, keeping him on a video call while demanding he transfer funds as a temporary "Supreme Court audit" measure. The victim complied under fear of legal consequences but never received the promised return of funds. The case highlights how scammers impersonating law enforcement target even educated individuals, and authorities recommend verifying claims by independently contacting official agencies, never sharing financial information with unknown callers, and reporting suspicious calls to police.
m.economictimes.com
A victim invested over Rs 2 crore in a fraudulent WhatsApp group purporting to offer stock market tips and high returns, only to discover the promised profits of Rs 3.5 crore were fake and withdrawal requests were denied with demands for additional Rs 70 lakh in fees. Police registered a case against the scammers who used a fake website and impersonated a Chicago-based investment company advisor. This scheme represents a common online investment fraud targeting vulnerable populations including retirees, with a similar case involving a 61-year-old retired bank employee who lost Rs 1 crore after joining a fraudulent investment group via Facebook.
localnewsonly.com
In recognition of World Elder Abuse Awareness Day, the FBI Dallas released findings from the 2023 Elder Fraud Report showing that elder fraud complaints increased 14% with reported losses totaling over $3.4 billion, averaging $33,915 per victim, with Texas accounting for over 7,000 complaints and $278.3 million in losses. Tech support scams were the most commonly reported elder fraud type in 2023, followed by personal data breaches, romance scams, non-payment/non-delivery scams, and investment scams. The FBI identified a formulaic tech support scam pattern where victims' computers are frozen with pop-ups claiming illegal activity, then
justice.gov
On June 15, 2024, the U.S. Attorney's Office for the Western District of Kentucky observed World Elder Abuse Awareness Day, highlighting that one in ten people over 60 experiences some form of elder abuse, with an estimated $28.3 billion lost annually to elder fraud scams. In 2023, Kentucky's FBI Internet Crime Complaint Center received 908 complaints from individuals over 60 reporting $12.8 million in losses, more than any other age group combined. The Justice Department brought nearly 300 criminal and civil actions against over 650 defendants in the past year who stole more than $1.5 billion from 2.4
the-dispatch.com
In honor of Elder Abuse Day on June 15, the North Carolina Senior Consumer Fraud Task Force held a press conference to raise awareness about elder financial fraud and launched new resources to help seniors report scams, including a fraud prevention video and a new 2-1-1 statewide phone number for reporting suspected financial scams. The task force, which now includes the N.C. Association on Aging, is distributing information through senior centers across the state, noting that Americans lost a record $10 billion to fraud in 2023 according to the Federal Trade Commission.
taipeitimes.com
A man surnamed Hsiao was sentenced to five years in prison by the Miaoli County District Court for operating a romance scam ring that targeted victims in China, defrauding at least one male victim of 1,200 yuan (US$165.38) across 23 incidents. Hsiao recruited young men and women to pose as romantic interests on social media and dating apps, and was convicted of fraud and violating the Organized Crime Prevention Act, with the court emphasizing the serious damage caused to public trust and Taiwan's international reputation.
webwire.com
Tietoevry Banking's 2023 fraud prevention report analyzed 3.4 billion transactions and prevented NOK 2.7 billion in fraud, with a 90 percent detection rate stopping approximately 70 percent of fraud attempts without customer loss. The report reveals a significant surge in digital fraud methods, including a 70 percent increase in card/account fraud attempts, 300 percent rise in digital wallet fraud, and over 150 percent growth in social engineering attacks, with phishing attempts up 60 percent. Key emerging threats include AI-enabled fraud techniques such as deepfake voice calls, "secure account" fraud, romance scams, and extortion schemes, requiring
forbes.com
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
cnn.com
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
wsjm.com
The Berrien County Sheriff's Department received multiple reports of a scam in which callers impersonated a deputy named "Lieutenant Justin O'Brien" and threatened arrest for failing to report for jury duty unless victims paid fines through money transfer services like Walmart, Walgreens, and Western Union. No victims were defrauded in the reported cases, but authorities warn that the sheriff's department never contacts people by phone threatening arrest to extort payment, and that callers should hang up and report such incidents to Central Dispatch.
spectrumnews1.com
Madeline Sprints fell victim to a parking lot distraction theft scam in Los Angeles where criminals stole three credit cards from her purse and attempted $10,000 in fraudulent charges, prompting her to join the Stop Senior Scams Acting Program to educate other seniors. According to the FBI, adults over 60 lost $3.4 billion to fraud in 2023 (an 11% increase from 2022), with common scams including grandparent scams, romance scams through dating apps, and tech support scams. The FBI recommends never responding to unsolicited contact and reporting scams to local FBI offices or the Internet Crime Complaint Center
columbiabasinherald.com
Grant County Sheriff's Office received at least six reports on June 5 of phone scams where callers impersonated deputies demanding money deposits to avoid arrest using spoofed numbers. Public Information Officer Kyle Foreman emphasized that legitimate law enforcement never calls to demand payment for fines or warrants, and advised residents to verify caller identity by contacting agencies directly, keep antivirus software updated, and report suspected scams immediately—noting that one senior citizen lost $60,000 before realizing the fraud, with little chance of recovery.
taipeitimes.com
Romance scams targeting people seeking relationships online are prevalent in Taiwan, with scammers using fake profiles and trust-building tactics to convince victims to send money. Two documented cases involved a 35-year-old woman who lent NT$1 million (US$30,912) to a man posing as a National Security Bureau employee, and a female teacher who nearly sent NT$5 million to someone claiming to be a businessman—the latter prevented by an alert bank clerk. Authorities advise victims to verify suspicious activity by contacting the 165 anti-fraud hotline or police, and to seek guidance from trusted friends and family before sending money to online romantic interests.
wbko.com
The FBI reports a significant surge in elder fraud, with $1.6 billion in losses from January to May 2024—nearly $300 million more than the same period in 2023—and warns that 2023 saw elder fraud complaints rise 14% resulting in $3.4 billion in annual losses. Common scams targeting seniors include tech support, romance, investment, and government impersonation schemes, which cause financial and psychological harm to vulnerable populations. The FBI recommends victims and potential targets verify unknown contacts, resist urgency tactics, avoid sharing personal information with unverified sources, and report suspected fraud to local FBI offices or IC3.gov.
justice.gov
The U.S. Attorney's Office for the Eastern District of Michigan recognized World Elder Abuse Awareness Day by announcing a partnership between federal, state, and local law enforcement agencies to combat fraud targeting older citizens. The agencies will hold a public town hall on June 20, 2024, to educate seniors about recognizing and preventing fraud schemes, including tech support scams, romance scams, and Social Security impostor fraud. The Justice Department emphasizes that awareness and information are key to protecting vulnerable populations from financial, physical, and psychological harm.
kfiz.com
June is Elder Abuse Awareness Month, highlighting that while consumers over 60 lose money to scams less frequently than younger people, they lose significantly larger amounts when victimized—averaging nearly $1,000 compared to under $500 for those under 60. Common scams targeting seniors include grandparent scams (using impersonation and AI voice cloning), Medicare scams during enrollment periods, and tech support scams falsely claiming to be from Apple or Microsoft. The article provides prevention strategies for each scam type and guidance on how to supportively help victims by responding with empathy, listening to their experience, validating their story, and assisting with reporting and recovery steps.
sciotopost.com
De-love Kofi Amuzu, 25, of Ohio, was sentenced to 78 months in prison for laundering money from a romance fraud conspiracy targeting elderly victims seeking companionship online. The scheme involved creating fake dating profiles to deceive victims into sending substantial cash, items, and wire transfers totaling over $1.1 million, which Amuzu then transferred to Ghana accounts. Several victims lost so much money they were forced into bankruptcy, and Amuzu has been ordered to pay $835,487.65 in restitution.
cryptopolitan.com
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.
crypto.news
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).