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news5cleveland.com
· 2025-12-08
The Better Business Bureau warns college students about fraudsters impersonating government agencies or legitimate lenders to offer fake financial aid and scholarship scams. Scammers typically lure victims with promises of free loans or favorable rates but require upfront payments before disbursing funds. The BBB recommends avoiding unsolicited offers, being wary of payment requests, and reporting suspected scams to the BBB and Federal Trade Commission.
theberkshireedge.com
· 2025-12-08
Adams Community Bank announced a partnership with Carefull, a financial safety platform, to offer free fraud and scam protection to its account holders, making ACB the first bank in Western Massachusetts to provide this service. The Carefull platform monitors accounts for unusual activity, detects romance scams and other financial exploitation, analyzes suspicious communications, and provides secure storage for important documents and records with $1 million identity theft insurance. This initiative reflects ACB's commitment to protecting seniors and their families as elder fraud cases continue to rise.
inkl.com
· 2025-12-08
Phone-based elder scams remain prevalent in 2024, with fraudsters using evolving tactics that exploit trust and urgency to target older adults. Common scams include Medicare impersonation, fake tech support, grandparent emergency schemes, lottery/prize offers, utility company threats, and government agency impersonation—each designed to steal personal information, drain bank accounts, or install malware. The key protection strategy is to never share personal information over unsolicited calls, verify requests independently by contacting official sources directly, and ask verification questions that only legitimate contacts would know.
anz.com.au
· 2025-12-08
ANZ Bank has successfully prevented thousands of fraudulent payments through its Confirmation of Payee (CoP) feature, which alerts customers when payment recipient details don't match bank records; since launch, 143,303 payments were abandoned by customers, with 10,040 going to accounts flagged on the Australian Financial Crimes Exchange. The bank emphasizes that combating scams requires collaboration between financial institutions, customers, and authorities, alongside technological innovations like the Digital Padlock feature and partnerships with fraud intelligence networks. Australia's coordinated approach has contributed to a 25.9% decrease in reported scam losses in 2024 compared to 2023, demonstrating that awareness and prevention strategies are
fox32chicago.com
· 2025-12-08
The FBI has warned seniors about the Phantom Hacker Scam, which has cost Americans over $1 billion since at least 2024 by draining life savings and retirement accounts. The scam operates in three phases—a tech support impostor gains remote computer access, a financial institution impostor convinces victims to transfer funds to a "safe" account via wire transfer or cryptocurrency, and potentially a government impostor prompts further transfers to "alias" accounts. Security experts emphasize that victims rarely recover their money unless they report the theft immediately, and scammers increasingly use artificial intelligence to target seniors based on their personal interests and social media profiles.
brooklynda.org
· 2025-12-08
Two New Jersey brothers, Abhishek Barvalia (31) and Tushar Barvalia (32), were indicted in Brooklyn for allegedly defrauding four seniors aged 76 to 90 of approximately $400,000 between June 2023 and January 2024. The defendants posed as FBI agents, Microsoft representatives, and government officials, convincing victims their bank accounts were compromised and directing them to withdraw funds and transfer money to accounts the defendants controlled, while instructing victims to maintain secrecy. The defendants were charged with second-degree grand larceny, first-degree scheme to defraud, and fourth-degree conspiracy.
pennlive.com
· 2025-12-08
The Cybersecurity Association of Pennsylvania warns of a surge in sophisticated "Phantom Hacker" scams targeting seniors, with nearly half of victims over 60 and Americans losing over $1 billion nationwide to this multi-phase fraud. The scam typically involves criminals posing sequentially as tech support, bank representatives, and government officials to gain remote computer access and fraudulently transfer victims' funds to fake "safe" accounts, sometimes using AI to enhance credibility. PennCyber urges families to educate seniors on red flags—such as demands for wire transfers, cryptocurrency, or prepaid cards—and report suspicious contacts to the FBI's Internet Crime Complaint Center.
anz.com.au
· 2025-12-08
Between October 2024 and June 2025, ANZ bank prevented and recovered over $100 million in scam and fraud-related funds, while reducing customer financial losses by 15% compared to the previous year. The bank's multi-layered prevention strategy includes new tools like Digital Padlock (which locks scammers out of accounts), CallSafe authentication, and Confirmation of Payee (which verifies account name matches), along with customer education programs such as the MoneyMinded scams module. ANZ Plus customers who maintained default scam protections were 19 times less likely to become scam victims than those who disabled security features.
foxnews.com
· 2025-12-08
The Phantom Hacker Scam has cost Americans over $1 billion since 2024 by targeting seniors through a three-phase operation: tech support impostor gains remote computer access, financial institution impostor convinces victims to move funds to a "safe" account via wire transfer or cryptocurrency, and government impostor directs further transfers to "alias" accounts. Cybersecurity experts warn the scam is "devastating" for seniors as victims rarely recover their funds, with recovery rates in single-digit percentages only if reported immediately, and criminals increasingly use AI to personalize attacks based on social media profiles.
pbs.org
· 2025-12-08
Sophisticated criminal networks are using stolen identities to create "ghost students" and flood U.S. community college application systems to siphon millions in financial aid. The U.S. Department of Education has identified $150 million dispersed to ineligible students, including $30 million to deceased individuals, with victims including both colleges and people whose identities were stolen to fraudulently obtain student loans. These overseas fraud rings operating from countries like Pakistan, Bangladesh, and Vietnam target community colleges due to their open-access policies and also exploit .edu email addresses for additional fraud schemes involving discounts on software and services.
cbsnews.com
· 2025-12-08
A 22-year-old woman from Frisco was arrested after scamming an 80-year-old man and his 77-year-old wife out of more than $25,000 by posing as an FBI agent and bank representative in a phone scam. The suspect, Jessica Bahu, manipulated the couple into withdrawing cash and meeting her in person to hand over the money before they realized the fraud and reported it to police. Bahu was charged with exploitation of the elderly, a third-degree felony, and detectives are investigating possible federal charges and involvement of other suspects.
hayspost.com
· 2025-12-08
Scammers posing as banks, government agencies, and businesses are increasingly targeting retirees by creating fake crises around account fraud, identity theft, or computer security to pressure victims into transferring money. According to a new FTC report, reported losses from business and government impostor scams among adults 60+ have surged dramatically, with losses exceeding $100,000 increasing nearly sevenfold between 2020 and 2024, with many victims losing tens or hundreds of thousands of dollars. The FTC advises never transferring money in response to unsolicited calls or messages, verifying requests through independently confirmed contact information, and remembering that legitimate government agencies never demand immediate money transfers
ainvest.com
· 2025-12-08
This article covers multiple bank fraud cases prosecuted in 2025. Former Cathay Bank manager Weixin "Tony" Chen was indicted on charges of siphoning funds from customers' home equity lines and deposit accounts across Southern California branches, facing up to 30 years per count. The article also highlights the case of Jiaci Liu, a Chinese national sentenced to 24 months in federal prison for a sophisticated elder fraud scheme where he impersonated technical support and law enforcement to extract over $202,000 from elderly victims in Southern California and Arizona, including one victim who withdrew $28,000 after believing his computer was compromised.
newsbreak.com
· 2025-12-08
This educational article from FODMAP Everyday® identifies 12 items people over 50 should remove from their wallets to protect against identity theft and fraud. The piece emphasizes that elder fraud is a critical threat, citing FBI data showing scams targeting people over 60 caused $3.4 billion in losses in 2023 (averaging $33,915 per victim), with total fraud losses reaching $12.5 billion in 2024—a 25% increase year-over-year. Key recommendations include removing Social Security cards, excessive credit cards, and debit cards, as thieves can use these items to commit identity theft, credit card fraud, and drain
townhall.com
· 2025-12-08
Jiaci Liu, a Chinese national, was sentenced to 24 months in federal prison for operating a tech support scam targeting seniors across Southern California and Arizona. Liu and his co-conspirators used pop-up windows to trick elderly victims into believing they had computer viruses, then impersonated bank representatives and government officials to convince victims to withdraw cash, stealing over $202,000 in just one week in June 2023 from victims in their 70s and 80s. One Poway, California victim lost $28,000 before becoming suspicious and alerting authorities, leading to Liu's arrest when he arrived at the victim's home to collect the money.
shiawaves.com
· 2025-12-08
Nigeria deported 102 foreign nationals (60 Chinese and 39 Filipinos) convicted of cyber-terrorism and internet fraud as part of a crackdown on cryptocurrency scam operations that targeted victims in the Americas and Europe, often causing them to lose their life savings. The deportations followed the arrest of 792 individuals in Lagos in December 2024, with criminals using sophisticated romance scams to lure victims into fake cryptocurrency investments and exploiting local recruits known as "Yahoo Boys."
myleaderpaper.com
· 2025-12-08
The Leader is hosting the first Farmington Area Senior Expo on September 24 from 8 a.m. to noon at Mineral Area College, offering free admission and activities for adults 50 and older including vendor booths, educational speakers on foot wellness and senior safety, bingo games, giveaways, and live music. The event features more than 30 vendors providing information on services ranging from banking to healthcare, with free refreshments and accessible shuttle service provided by Faith Cowboy Church in Desloge.
trak.in
· 2025-12-08
OneCard issued an advisory about WhatsApp Screen Mirroring Fraud, where scammers impersonate bank officials and trick users into enabling screen-sharing to steal OTPs, banking credentials, and UPI PINs for unauthorized transactions and identity theft. To prevent this scam, users should verify caller identity through official channels, avoid screen-sharing with untrusted parties, never share banking details under pressure, and report suspicious activity to authorities. The scam particularly targets vulnerable populations including senior citizens unfamiliar with digital tools.
consumer.ftc.gov
· 2025-12-08
Scammers use robocalls claiming consumers overpaid utility bills and are entitled to cash refunds and future discounts, instructing recipients to press a number to claim the money. This is a fraudulent scheme or marketing trick, as legitimate utility companies credit overpayments to accounts rather than issue cash refunds, and unsolicited discounts are unlikely. Consumers should hang up without pressing any keys, never share personal information, verify claims directly with their utility company using the number on their bill, and report suspicious calls to the FTC.
thetimes24-7.com
· 2025-12-08
AI-powered travel scams are evolving rapidly, with con artists using advanced technology to create deepfake customer service agents, sophisticated phishing emails mimicking legitimate booking confirmations, and fake booking websites designed to steal travelers' personal and financial information. Travelers can protect themselves by verifying caller identities through official channels, enabling two-factor authentication, checking for grammatical errors and suspicious links in emails, and logging directly into official websites rather than clicking email links to confirm bookings.
mirror.co.uk
· 2025-12-08
Romance scammers are exploiting AI technology to scale their fraud operations, using deepfakes, authentic-looking messages, and chatbots to target thousands of victims simultaneously. Common tactics include "love bombing" (rapid declarations of love and manipulation), small initial money requests that escalate to large sums for travel or visa fees, and requests for gift cards or charitable donations that are difficult to trace. People should watch for red flags such as overly quick emotional escalation, requests for money under various pretexts, and inconsistencies in the scammer's story to avoid losing significant amounts of money to these evolving scams.
abcnews.go.com
· 2025-12-08
A Denver man lost $17,000 to a scammer after calling United Airlines' customer service number to rebook a cancelled flight; the scammer, posing as a United agent named "David," convinced him to pay through a fraudulent payment link under the guise of a refund later, then disappeared without processing the promised refund. United Airlines confirmed the charge never reached their system and is conducting an investigation into how the call was transferred to the scammer within their system.
newsbreak.com
· 2025-12-08
The article discusses a surge in impersonation scams targeting seniors, where scammers pose as government agencies or trusted businesses (like Amazon) to convince victims to transfer money for "protection," ultimately stealing it. The FTC reports a nearly 200% increase in reports of older Americans losing up to $10,000 since 2020, with a 400% increase in losses exceeding $100,000, and younger Americans are increasingly affected. The piece provides protective advice including being wary of money transfer requests, refusing demands for gift cards or cryptocurrency transfers, and hanging up to independently verify caller claims.
enews.wvu.edu
· 2025-12-08
kstp.com
· 2025-12-08
Mavious Redmond, a 54-year-old from Austin, Minnesota, was sentenced to one year and one day in federal prison for impersonating her deceased mother to fraudulently collect Social Security benefits over 25 years, netting over $360,000. Beginning in 1999, Redmond deliberately circumvented Social Security Administration reporting requirements by forging signatures, using false personal information, and impersonating her mother in phone and in-person interactions. She was also ordered to serve supervised release following her prison term for this scheme that defrauded the Social Security program and taxpayers.
justice.gov
· 2025-12-08
Jiaci Liu, a Chinese national, was sentenced to 24 months in federal prison for his role in a multinational fraud conspiracy targeting seniors in Southern California and Arizona. The scam involved posing as tech support specialists, bank representatives, and government officials to convince victims to withdraw cash under false pretenses; Liu personally collected over $202,000 from elderly victims in a single week in June 2023, with a 63-year-old Poway resident thwarting the scheme by reporting his suspicions to authorities before Liu could retrieve the victim's $28,000 withdrawal.
newschannel9.com
· 2025-12-08
A Chattanooga man lost $254,000 in a romance scam after meeting a scammer on a dating app who promised marriage and a life in Florida; he quit his job, sold his home, and showed up at the airport only to discover the ticket didn't exist and his accounts were emptied. Hamilton County investigators recovered $159,987.69 from the scammer's accounts. In a separate case, detectives recovered the full $54,000 stolen from another victim who was targeted by someone impersonating a U.S. Department of the Treasury representative demanding payment via cashier's check and gift cards.
commonsenseinstituteus.org
· 2025-12-08
Financial fraud in Oregon resulted in an estimated $201 million in reported losses and $1.2 billion in unreported losses in 2025, with the FBI and FTC reporting significant increases in fraud cases nationwide. The state's economy faces a projected $3.9 billion reduction in GDP, $2.6 billion reduction in personal income, and approximately 15,000 job losses due to all financial fraud (reported and unreported). Oregon ranks 26th-28th among states for cyber-enabled crime losses and elder fraud complaints, with fraud cases up 3,336 since 2022 and total losses up 285% since 2020.
cointelegraph.com
· 2025-12-08
A North Wales Police investigation revealed that a scammer impersonated a senior UK law enforcement officer to steal £2.1 million ($2.8 million) worth of Bitcoin from a victim, likely identified through a data breach. The scammer created urgency by claiming the victim's identification documents were found on an arrested person's phone, then directed the victim to enter their crypto wallet seed phrase into a fake website, gaining full access to the funds. Police emphasized that they never contact people unexpectedly about crypto assets or request seed phrases, and advised victims to hang up on suspicious calls and verify directly with law enforcement.
timesofindia.indiatimes.com
· 2025-12-08
Three senior citizens in Hyderabad—an 81-year-old retired government employee, a 58-year-old school headmaster, and an 86-year-old retired physician—were collectively defrauded of approximately 48 lakh rupees in separate "digital arrest" scams between August 1-19. Fraudsters impersonated police and CBI officers, threatening the victims with arrest based on false charges (money laundering, obscene calls, human trafficking) and coercing them to transfer funds for "verification" or to prevent arrest. Cases were registered at Cyberabad, Siddipet, and Warangal police stations
yahoo.com
· 2025-12-08
Federal investigators charged 13 people, including alleged ringleader Oscar Manuel Castanos Garcia, in connection with a "grandparent scam" operation based in the Dominican Republic that defrauded approximately 400 elderly victims (average age 84) of over $5 million. The scammers posed as grandchildren in distress and used accomplices posing as lawyers to pressure victims into withdrawing cash, which was then collected by Uber drivers and laundered; Uber's security team helped the FBI uncover the scheme by flagging suspicious activity. Many victims lost tens of thousands of dollars each, and authorities warn that most will not recover their money, with four suspects still at large.
hollywoodreporter.com
· 2025-12-08
Actor John Amos' daughter Shannon sued her brother Kelly Christopher Amos, former caretaker Belinda Foster, and associate Eugene Brummett for elder abuse, fraud, and wrongful death, alleging that starting around 2019, K.C. Amos systematically isolated their father, manipulated him into signing new wills and trusts that gave K.C. near-complete control of the estate, and neglected his medical needs—resulting in hospitalizations including treatment for a maggot infection. The petition claims John Amos, who died in 2024 of natural causes, was kept in unsafe conditions with improperly administered medications, and seeks to freeze the
states.aarp.org
· 2025-12-08
Elder financial exploitation is one of the fastest-growing crimes in the Virgin Islands, prompting AARP Virgin Islands and the VI Department of Human Services to host the Elder Justice Summit 2025 on August 21, 2025, specifically targeting financial professionals, law enforcement, legal services, and government partners. The summit will feature keynote speaker Zoimé Álvarez Rubio (President & CEO of the Puerto Rico Bankers Association) and a panel of local experts discussing strategies to detect, prevent, and respond to financial fraud targeting vulnerable older adults before it depletes their savings and independence.
students.wvu.edu
· 2025-12-08
This educational advisory warns students, faculty, and staff to remain vigilant against cybercriminal scams targeting universities at the start of the semester, including fake job and scholarship offers, AI-powered phishing emails and voice calls impersonating authority figures, and malicious QR codes ("quishing"). The article advises verifying unexpected or urgent requests through trusted channels, never sharing sensitive credentials or personal information in unsolicited messages, and reporting suspicious emails to the university's security team.
moodys.com
· 2025-12-08
Fraud schemes are becoming increasingly sophisticated, with global losses exceeding $1 trillion annually and affecting individuals, businesses, and government bodies across the UK and worldwide. Emerging fraud types include sextortion scams (which more than doubled globally in 2023 to 26,718 cases) and romance scams (up 14% in 2024), often enabled by AI and deepfakes for identity theft and deception. Public-Private Partnerships, advanced technology tools, and regulatory reforms are being deployed to combat fraud, with the UK's National Fraud Initiative demonstrating success by preventing £510 million in fraud between 2022-2024.
myfoxzone.com
· 2025-12-08
Texas seniors lost over $480 million to scams in 2024, ranking second nationally according to FBI data, with common schemes including charity fraud, romance scams, and jury duty threats targeting vulnerable older adults. Local organizations like San Angelo's Better Business Bureau and retirement communities are addressing the surge through education programs that teach seniors to recognize red flags, avoid panic-driven decisions, and report crimes without shame. Experts note that official complaint numbers likely underrepresent the true scope, as many victims fail to report due to embarrassment.
cleveland.com
· 2025-12-08
Cuyahoga County First Assistant Prosecutor Diane Russell and local law enforcement held an educational presentation at the Parma Heights Senior Center to inform approximately 80 seniors about current fraud and scam tactics targeting older adults. The presentation emphasized that most scams begin with unsolicited phone calls or texts, and advised seniors to hang up, verify caller identity independently, and consult trusted contacts or police before responding to suspicious communications.
wfiwradio.com
· 2025-12-08
Edward L. Stief, Jr., a 42-year-old from Effingham County, pleaded guilty to wire fraud, mail fraud, and unlawful monetary transactions after exploiting an elderly victim out of over $338,000. Stief gained the victim's trust through lawn care services, then obtained power of attorney, gained access to bank accounts, liquidated life insurance policies, and stole personal assets including gold coins and jewelry; he also removed the victim from a nursing home and failed to provide necessary medical care. Sentencing is scheduled for December 2nd, with potential penalties of up to 20 years for the fraud charges.
kshb.com
· 2025-12-08
The Palmer Center in Independence, Missouri hosted its annual "Scamboree" event to educate approximately 175 senior attendees about fraud prevention, featuring resources on common scams including investment fraud and utility company impersonation schemes. According to the Senior Medicare Patrol program, Medicare loses an estimated $60 billion annually to fraud, errors, and abuse, with participants advised to avoid sharing personal information with unknown callers and to hang up immediately on suspicious calls.
cnn.com
· 2025-12-08
Financial scams have become increasingly prevalent and sophisticated, with the FBI reporting $16.6 billion in cybercrime losses in the past year—a 33% increase over the prior year with an average loss of $19,372 per victim. The FTC documented a more-than-four-fold increase between 2020 and 2024 in reports of older Americans (age 60+) losing $10,000 or more to scams, with some victims emptying entire bank accounts and retirement funds. Common schemes include imposter scams masquerading as government agencies or businesses, tech support scams, and prize/sweepstakes frauds, with red flags
investopedia.com
· 2025-12-08
AI-powered bank impersonation scams are surging, with cyber fraud losses reaching a record $16.6 billion in 2024 (up 33% from 2023). Scammers now use artificial intelligence to create legitimate-looking emails, texts, and calls with perfect grammar and spoofed phone numbers, exploiting consumers' trained panic responses to fraud alerts. Key red flags include urgent requests for immediate action, unusual payment methods (cash withdrawals, bitcoin transfers, new accounts), and the article advises consumers to hang up and call the number on their debit card to verify any bank communication.
makeuseof.com
· 2025-12-08
In 2024, scammers stole $16.6 billion using increasingly sophisticated tactics including AI-generated deepfakes, romance schemes, and cryptocurrency fraud. AI-powered voice clones enable criminals to impersonate trusted individuals and request urgent wire transfers, while romance scammers target vulnerable people on dating platforms, building emotional connections before requesting money for fabricated emergencies or investments. Cryptocurrency and investment scams remain particularly damaging, using social media ads and fake investment advisors to promise unrealistic returns and create urgency around missing opportunities.
trendmicro.com
· 2025-12-08
Task scams are fraudulent employment schemes advertised through social media and text messages that promise easy remote work (like liking videos or writing reviews) with attractive compensation and benefits. Scammers use social engineering and psychological manipulation—including fake professional websites and initial small payouts—to build trust before escalating financial demands, ultimately trapping victims in a cycle of deposits to access their claimed earnings. The Federal Trade Commission reported increased task and employment scam complaints in 2024, with victims targeting a range of demographics but most commonly those seeking easy online income from home.
newamerica.org
· 2025-12-08
Chicago residents identified online fraud as a major concern, with 90 percent of survey respondents rating protection from it as "important" or "very important." The Federal Trade Commission received 2.6 million fraud reports in 2024 resulting in $12.5 billion in losses, with Illinois accounting for over 186,000 fraud reports, and the article provides expert guidance on identifying, avoiding, and responding to various types of fraud including account fraud, non-delivery scams, and impersonation schemes.
roughdraftatlanta.com
· 2025-12-08
Fulton County Department of Senior Services launched Avoid Cyber Threats (A.C.T.), a free online training program in August targeting residents aged 55 and older to help them recognize and avoid cyber scams including phishing, voice cloning, and impersonation schemes. The initiative responds to a 60 percent rise in scams targeting seniors over five years, with Americans aged 60+ losing nearly $4.9 billion to fraud in 2024 and Georgia ranking seventh nationally for senior fraud losses; the program aims to train 2,000 seniors by December, with research showing trained seniors are 80 percent more likely to recognize and avoid scams.
southwestledger.news
· 2025-12-08
Christine Joan Echohawk, 54, of Pawnee, pleaded guilty to five felony charges for laundering approximately $1.5 million obtained through online romance scams targeting four elderly women (ages 64-79) in Florida, Utah, and Texas between September and December 2024. One victim sold her house to send $600,000 to the scammer; Echohawk received the funds through various accounts, converted them to cryptocurrency, and sent payments to an unidentified accomplice using the alias "Maurice Dinero." She was sentenced to 62 years in prison (8 years to serve, 54 suspended) and ordered to pay $621,750 in
waff.com
· 2025-12-08
TARCOG is hosting a free Fraud and Scam Summit in Athens, Alabama to educate seniors, caregivers, and professionals about recognizing and preventing scams, which cost Americans nearly $5 billion annually. The event features experts from law enforcement and the Alabama Securities Commission discussing common fraud tactics, identity theft prevention, and reporting procedures, with particular focus on romance scams as the fastest-growing threat targeting vulnerable seniors. Attendees can register on the waiting list by contacting TARCOG at 256-830-0818, and resources will be available online for those unable to attend.
mlive.com
· 2025-12-08
Scammers are impersonating law firms to target previous fraud victims by falsely offering to recover lost funds, when they actually seek to steal personal information or additional money. The FBI warns people to adopt a "zero trust" approach by verifying any unsolicited legal assistance through video proof, notarized identity documents, and documentation of all communications, while watching for red flags such as requests for cryptocurrency payments, references to fictitious government agencies, inability to provide credentials, and pressure to register accounts at foreign banks. Victims should report suspected scams to their local FBI field office or the FBI's Internet Crime Complaint Center at ic3.gov.
cbs6albany.com
· 2025-12-08
Text message scams impersonating package delivery services and toll payment alerts are rapidly increasing, targeting consumers with urgent messages that trick them into clicking malicious links or providing credit card and personal information. Experts recommend ignoring unsolicited texts, verifying requests by contacting companies directly, and using official tracking apps from USPS, FedEx, and UPS to avoid falling victim to these schemes.
freep.com
· 2025-12-08
The FTC reports a four-fold increase in "transfer it to protect it" scams from 2020-2024, where fraudsters impersonating banks or government agencies convince victims to move money to protect it from fabricated threats. Adults aged 60 and older reported the highest losses, with combined losses exceeding $100,000 reaching $445 million in 2024 (up from $55 million in 2020), though younger consumers are also becoming victims, including an 18-year-old in Michigan who lost $4,800 after receiving a phishing email. Scammers typically initiate contact via phone calls (41% of cases), emails, or pop