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in Investment Fraud
wthitv.com
· 2025-12-08
Americans over age 60 are increasingly targeted by sophisticated online scammers who stole $3.4 billion from older Americans in the previous year—an 11% increase from the prior year—with seniors filing over 100,000 complaints to the FBI. Scammers use various schemes including romance scams, investment scams, tech support scams, and cryptocurrency scams, often impersonating legitimate companies or institutions to trick victims into giving away their savings. To protect themselves, older adults should verify unexpected messages, avoid acting under pressure, double-check suspicious requests, and immediately contact trusted contacts or authorities if they suspect fraud.
aarp.org
· 2025-12-08
The FTC has issued an alert about a "growing wave" of government and business-impersonation scams targeting retirees' savings, with Amazon being among the most frequently impersonated companies due to its massive customer base. Common scams include fake refund offers with phishing links, fraudulent Prime subscription renewal notices with unusually high prices directing users to fake login pages, fake delivery/order problems requesting payment or personal information, and suspicious purchase confirmation calls designed to catch victims off guard. Consumers are advised to always verify account information directly through official apps or websites rather than clicking links in unsolicited messages.
readthereporter.com
· 2025-12-08
American Senior Communities and the Indiana Attorney General's Office are hosting free educational sessions to help seniors recognize and avoid scams, with a session scheduled for May 9 in Indianapolis. The presentation will cover common fraud tactics (such as grandparent scams, romance fraud, and fake investment schemes) that cost seniors over $5.9 billion annually, and will provide guidance on identifying scams, recovery steps, and how to report fraud.
baynews9.com
· 2025-12-08
Victoria Zerillo, a 49-year-old general manager of a nonprofit providing repair services to Sun City Center seniors, was sentenced to 18 months in prison for stealing over $410,000 through wire fraud and embezzlement from December 2015 to November 2022. The scheme involved doctored bank statements, unauthorized ATM withdrawals, and fraudulent credit card charges, and was uncovered when a resident with a finance background noticed rising service rates and investigated the company's finances. This case is part of a broader problem in Florida, where seniors lost more than $300 million to various scams in the prior year, making the state second-highest in the nation for elder fraud.
npr.org
· 2025-12-08
Online scams via direct messages and texts are widespread globally, with perpetrators often being victims of human trafficking who are coerced into conducting the fraudulent schemes. The article highlights the dual victimization occurring in these scam operations, where trafficked individuals are forced to participate in financial fraud targeting others.
theguardian.com
· 2025-12-08
More than 800,000 people across Europe and the US were defrauded by a sophisticated network of approximately 76,000 fake online designer shops operated from China, with victims sharing credit card details, security codes, and personal information while attempting to purchase discounted goods from brands like Dior, Nike, and Prada. The organized operation, which began in 2015 and processed over 1 million orders in the past three years, attempted to collect as much as €50 million, though most consumers received no items; approximately 22,500 shops remain active. Security experts warn that the harvested personal data could be used for future phishing attacks, identity theft, and potentially
thesuntimesnews.com
· 2025-12-08
A 93-year-old woman with mild dementia became a victim of financial abuse by her youngest daughter, Joan, who siphoned an estimated $230,000 from her mother's savings, manipulated her into signing a new will naming Joan as sole heir and power of attorney, and subsequently sold the mother's condo for $400,000—leaving the three other daughters powerless to stop the exploitation while a police investigation could take up to two years. The article contextualizes this case within the broader problem of elder financial abuse, which the National Council on Aging estimates costs seniors approximately $36.5 billion annually, particularly affecting vulnerable populations including those with cognitive decline and Black seniors (
theamericangenius.com
· 2025-12-08
**Title:** Elder Fraud Report 2023: FBI Data on Senior Scams
The FBI's Elder Fraud Report 2023 documents $3.43 billion in losses from 101,068 seniors over 60, averaging $33,915 per victim with an 11% increase from 2022—though actual figures likely exceed these numbers due to underreporting. Tech and customer support scams were most common, while investment scams caused the largest losses at $1.2 billion, with romance, identity theft, and personal data breach scams also prevalent in the top five. Protection strategies include avoiding suspicious links and ads, using only legitimate company websites for contact information
aol.com
· 2025-12-08
A national initiative is training doctors across 22 states, Washington D.C., and Puerto Rico to identify elderly patients vulnerable to investment fraud and refer them to securities regulators and social workers. The program, expanding from a successful Texas pilot, represents a collaborative approach between investor protection groups, medical associations, and adult protection services to address senior investment scams as a public health issue.
punchng.com
· 2025-12-08
A Nigerian man expressed frustration after a Polish bank refused to open an account for his child, citing a blanket policy against Nigerian customers. He attributed the discriminatory policy to reputational damage caused by Nigerian nationals involved in scams and fraud schemes abroad, including documented cases of Nigerians convicted of money laundering, bank fraud, and romance scams in countries like the United States.
aspentimes.com
· 2025-12-08
In 2023, scammers stole $188 million from over 11,000 victims across Colorado, with Summit County experiencing 80 fraud reports so far this year totaling tens of thousands in losses. Common scams include phone and email schemes where fraudsters impersonate law enforcement, the IRS, tech support, or claim urgent family emergencies or warrant arrests. Victims are advised to be suspicious of unsolicited messages offering unrealistic rewards, report suspicious activity to law enforcement, and file complaints with StopFraudColorado.gov or IC3.gov, though most stolen funds are unrecoverable once scammers operate from overseas jurisdictions.
ftadviser.com
· 2025-12-08
UK banks have invested heavily in fraud prevention systems that successfully reduced traditional unauthorized account fraud, but criminals have adapted by shifting to authorised push payment (APP) fraud, where they use social engineering and deepfakes to convince victims to voluntarily transfer funds. Since 2020, Britons have lost over £2.6 billion to investment fraud alone, with APP scams occurring across eight types including investment scams, romance scams, impersonation, and CEO fraud, making detection extremely difficult for financial institutions since these appear as legitimate customer-authorized transactions.
cutimes.com
· 2025-12-08
This article is a promotional interview piece rather than a news story about fraud. It features Brian Melter, chief experience officer at Landmark Credit Union, discussing the institution's approach to member experience and fraud prevention, including recognition of National Senior Fraud Awareness Day and National Financial Literacy Month. The piece covers Melter's insights on senior fraud prevention, technology's role in fraud schemes, and financial wellness advice, but does not report on specific fraud cases or incidents.
justice.gov
· 2025-12-08
Satishkumar Rameshchandra Patel, a 39-year-old Indian national living in Chicago, was sentenced to 32 months in federal prison for conspiracy to commit wire fraud and ordered to pay $631,336.40 in restitution. Patel acted as a money courier for an India-based call center operation that defrauded primarily elderly victims (in their late 60s and 70s) through two schemes: impersonating government officials claiming victims were in legal/financial trouble and demanding payment, and perpetrating tech support scams involving fake computer refunds. Nine victims lost between $9,000 and $375,000 individually through Patel
bobsullivan.net
· 2025-12-08
Cybercriminals are sending fraudulent text messages to drivers claiming unpaid tolls (typically $12-$13) and threatening $50 late fees, directing victims to fake toll authority websites to steal personal and financial information. The FBI received 2,000 complaints from three states by April, expanding to 12 states by May, with Florida authorities issuing a crackdown due to the state's 700 miles of toll roads. Authorities advise recipients to independently verify toll claims through official channels rather than clicking links in unsolicited messages.
justice.gov
· 2025-12-08
Federal law enforcement agencies completed the Money Mule Initiative, taking action against over 3,000 money mules who facilitate fraud schemes by transmitting stolen funds to international fraudsters. The operation resulted in approximately 2,970 warning letters to individuals (many unknowingly recruited through romance or lottery scams) and criminal charges against more than 20 individuals knowingly facilitating fraud. The initiative specifically targets schemes that harm vulnerable populations, including older Americans victimized by lottery fraud, romance scams, and grandparent scams.
tradingview.com
· 2025-12-08
A cryptocurrency whale lost approximately $71 million worth of Wrapped Bitcoin on May 3, 2024, after falling victim to an address poisoning scam, where the fraudster created lookalike addresses to trick the victim into sending funds to wrong accounts. In an unusual turn of events, the scammer began returning the stolen funds, with approximately $34.7 million recovered within days through transfers from multiple addresses, though the motivation behind the return remains unclear. As of the article's writing, over $45 million had been returned, with recovery ongoing due to the funds being distributed across numerous addresses.
aol.com
· 2025-12-08
Following devastating Oklahoma tornadoes, MoneyGram warned consumers about fraudulent charity scams where victims average losses of $824 by sending money transfers to fake organizations with names similar to legitimate charities. The company identified five red flags including high-pressure tactics, wire-transfer-only payment demands, and lack of organizational information, and advised consumers to recognize, react to, and report suspected scams to authorities.
cryptotimes.io
· 2025-12-08
Authorities in Austria, Cyprus, and Czech Republic dismantled a cryptocurrency fraud ring that defrauded investors of at least €10 million between December 2017 and February 2018 by promoting a fake initial coin offering (ICO) and non-existent cryptocurrency. The scammers accepted Bitcoin and Ethereum payments while falsely claiming to have proprietary software technology, then shut down all operations after accumulating funds. Six Austrian members were arrested, and authorities seized €500,000 in cryptocurrencies, €250,000 in cash, and luxury assets, though the total number of victims remains undetermined as investigations continue.
shorenewsnetwork.com
· 2025-12-08
Federal law enforcement agencies completed the Money Mule Initiative, an annual campaign that resulted in criminal charges against over 20 individuals and warning letters to approximately 2,970 money mules involved in facilitating fraud schemes. The initiative targeted networks that transmit stolen funds from fraud victims to international fraudsters, with cases including two men accused of laundering $4.5 million from romance scams and business email compromises targeting elderly victims, and five defendants who acted as couriers collecting cash from grandparent scam victims. The agencies emphasized the importance of public education to prevent unknowing individuals from becoming money mules, as many are initially victimized by romance or lottery scams before being manipulated into ass
justice.gov
· 2025-12-08
The U.S. Attorney's Office and Department of Justice announced completion of the Money Mule Initiative, a campaign that disrupted transnational fraud networks by taking action against over 3,000 money mules who facilitate scams targeting Americans, particularly elderly victims of lottery fraud, romance scams, and grandparent scams. More than 20 individuals were criminally charged, including cases involving $4.5 million laundered from romance scams targeting elderly victims, a grandparent scam operation using couriers to collect cash from seniors, and a tech support fraud scheme that collected approximately $7 million from elderly victims. The initiative combined criminal prosecutions, warning letters to unknowing participants,
thezebra.org
· 2025-12-08
Senior Services of Alexandria and the Alexandria Bar Association are hosting Senior Law Day 2024 on June 8 in Alexandria, VA, a free educational event featuring panels on protecting against financial scams, housing and end-of-life decisions, and essential legal documents like wills and powers of attorney. The event highlights that financial fraud affecting older adults totals approximately $3 billion annually, with fraud by known individuals averaging $120,000 in losses per incident, and will include presentations from AARP's fraud prevention director, local law enforcement, and elder-care attorneys.
africa.businessinsider.com
· 2025-12-08
Hong Kong authorities warned of a deepfake scam in which a group calling itself Quantum AI or AI Quantum used fabricated videos of Elon Musk to convince investors that he developed their AI-powered cryptocurrency trading service, which was actually a front for virtual asset fraud operated through three websites and two Facebook pages. This is part of a growing trend of scammers using deepfake technology to impersonate celebrities and high-profile figures; a South Korean woman previously lost $50,000 to a similar Musk deepfake scam in April. Hong Kong police shut down the group's online presence after the warning was issued.
huffpost.com
· 2025-12-08
The "grandparent scam" targets seniors by impersonating grandchildren in emergencies, typically claiming they need bail money after an arrest, with the FBI charging 16 defendants in 2024 for a scheme that defrauded hundreds of older Americans across the Northeast out of millions of dollars. Scammers use personal information found online and increasingly employ AI voice cloning to make calls convincing, but experts recommend victims focus on what is being asked rather than voice recognition, verify bail payment procedures, and question requests to keep secrets from family members.
businessinsider.com
· 2025-12-08
Hong Kong authorities warned of a scam by groups calling themselves Quantum AI or AI Quantum, which used deepfake videos of Elon Musk to fraudulently promote a fake cryptocurrency trading service across three websites and two Facebook pages. The scammers leveraged AI-generated deepfake technology to convince victims that Musk had developed the service, even conducting video calls with manipulated facial features to impersonate him and enhance credibility. Hong Kong police shut down the operation, though this represents an ongoing trend of deepfake-based fraud; a South Korean woman previously lost $50,000 in a similar Musk deepfake scam in April.
taipeitimes.com
· 2025-12-08
Taiwan's Cabinet approved several anti-fraud bills that would impose 3-10 year prison sentences and fines up to NT$30 million for convicted scammers, while requiring foreign online platforms to register with the government and remove fraudulent content or face penalties. The legislation was prompted partly by a viral Facebook post from a woman whose 76-year-old father lost a NT$30 million house after being scammed through a stock group chat, though the article notes that fraud is rising globally, with Taiwanese losing over NT$8.8 billion to fraud in 37,823 reported cases in the prior year. The article emphasizes that combating increasingly sophisticated scams requires not only legal reforms
cybersecuritynews.com
· 2025-12-08
AhnLab's Mobile Analysis Team uncovered sophisticated romance scams that manipulate victims into investing in cryptocurrency through fake exchanges like "CoinB," which fraudsters falsely associate with legitimate platforms like Coinbase. Scammers use social media to build trust with victims over time, then direct them to fake cryptocurrency apps designed to steal financial information and enable identity theft. The scams exploit language barriers and global reach through translation features in messaging apps, making prevention dependent on verifying exchange legitimacy, avoiding pressure to invest quickly, and maintaining skepticism of unsolicited investment opportunities.
the-sun.com
· 2025-12-08
A Florida community has experienced over $2 million in fraud losses in the past year, with one veteran losing $1.5 million in a gold bars scam where criminals impersonated federal agents and convinced him to purchase gold bars as "bait" to solve alleged social security fraud. Bradenton Police Chief Melanie Bevan created a special task force to investigate these crimes and educate seniors, noting that older Americans are disproportionately targeted due to lower tech literacy and that recovery of stolen funds is rarely possible. The FBI reports that in 2023, seniors over 60 accounted for over 101,000 reported scam victims and losses exceeding $3.4
kbtx.com
· 2025-12-08
The FBI reported a 14% increase in elder fraud complaints in 2023, with seniors over 60 losing $3.4 billion across 101,000 reported cases, averaging $33,000 per victim. In Texas alone, over 7,000 seniors lost $278 million, with investment scams, government impersonation schemes, and romance scams showing the largest growth; investment scams averaged $270,000 per victim in Texas. The FBI advises seniors to avoid trusting unknown contacts, verify caller identities independently, and report fraud to enable broader conspiracy investigations.
chicagotribune.com
· 2025-12-08
In 2022, older adults reported losing over $1.6 billion to fraud, with the FTC estimating actual losses may reach $48 billion due to underreporting; investment scams, business impersonation, and tech support scams saw significant year-over-year increases, some exceeding 100%. U.S. Rep. Robin Kelly and colleagues introduced the bipartisan Protecting Seniors from Emergency Scams Act, which would require the FTC to create a searchable regional scam database with law enforcement contacts and work with media to distribute fraud information to seniors and caregivers. Senior advocates stress that increasing awareness and understanding sophisticated scam tactics is critical, as isolation and lon
justice.gov
· 2025-12-08
Seven California residents were federally indicted for operating a sophisticated fraud scheme targeting elderly victims nationwide through tech support scams, romance fraud, and imposter schemes, using fraudulent Taiwanese passports and fake immigration documents to open bank accounts that funneled over $7 million in victim cash through money mules. Three additional conspirators—Bowen Chen, Jiacheng Chen, and Vianne Chen—were added to the indictment on May 8, joining four others previously charged, with the largest deposits ($1.3 million, $615,000, and $440,000 respectively) traced to specific defendants. The case was part of a federal Money Mule Initiative that prosecut
starofmysore.com
· 2025-12-08
A software engineer in Mysuru lost approximately Rs. 90 lakh ($10,800 USD) to a fraudulent online trading scam after receiving a WhatsApp message inviting him to join a platform called "cocoa209" that promised high stock market returns. The scammer used the classic scheme of showing initial small profits (Rs. 9,000 on a Rs. 10,000 investment) to build trust before repeatedly requesting larger deposits, eventually convincing the engineer to invest his entire savings plus Rs. 10 lakh from his son's account. The incident demonstrates how cybercriminals increasingly target highly educated individuals using sophisticated fake trading applications and promises of assured returns.
m.economictimes.com
· 2025-12-08
A woman named Sanjana lost Rs 18,40,168 to a lottery scratch card scam after receiving a fraudulent letter claiming she had won; the scammers requested her identification and personal documents for "verification," then convinced her to pay a 30 percent tax on winnings by falsely claiming lotteries were illegal in Karnataka, extracting money through multiple RTGS transfers over several months. When the scammers disappeared, Sanjana filed a cybercrime complaint, leading authorities to register a case under the Information Technology Act and Indian Penal Code. Scratch card scams exploit victims' desire for easy money through fake prizes and advance-fee schemes; people should avoi
knopnews2.com
· 2025-12-08
A Stanton County, Nebraska couple lost $100,000 after a pop-up warning appeared on their computer claiming illegal content was present; they were instructed to withdraw the money in gold coins and deliver it to unknown individuals while being told not to contact family or law enforcement. The scam exploited the couple's fear of jail time and relied on social engineering tactics to prevent them from seeking help. The case is being investigated by the Stanton County Sheriff's Office, Nebraska Attorney General's office, and FBI.
cbsnews.com
· 2025-12-08
Americans aged 60 and older lost $3.4 billion to scams in 2023, an 11% increase from 2022, with Florida ranking second nationally for complaints and reported losses. Florida seniors lost over $90 million to investment schemes, $51.5 million to tech support fraud, and over $40 million to romance scams, with the FBI urging victims to overcome shame and report crimes immediately.
nbcmiami.com
· 2025-12-08
Florida ranked second nationally for elderly fraud losses in 2023, with seniors over 60 reporting over $180 million in losses across investment schemes ($90 million), tech support scams ($51.5 million), and romance scams ($40 million). Nationally, fraud losses to people over 60 exceeded $3.4 billion—an 11% increase from 2022—affecting at least 101,000 victims with an average loss of $33,915 per person, with some victims forced to sell homes, liquidate retirement accounts, or borrow from family to cover losses.
1011now.com
· 2025-12-08
A Stanton County, Nebraska couple lost $100,000 after falling victim to a tech support scam that began with a pop-up warning about illegal material on their computer; they were instructed to withdraw cash, purchase gold coins, and deliver them to scammers while being warned not to contact family or law enforcement. The couple, described as educated and retired, believed the threat of jail time and only reported the fraud after disclosing it to family members. The Stanton County Sheriff's Office and Nebraska Attorney General's office are investigating, and authorities warn that legitimate agencies never demand money under threat of jail or require secrecy.
wflanews.iheart.com
· 2025-12-08
The FBI issued a 2023 warning that Florida ranks second nationally for elder fraud losses, with fraudsters using AI voice-mimicking technology to impersonate relatives in tech support and impersonation scams. Florida's elderly residents lost over $90 million to investment schemes and $40 million to romance scams during this period.
wflaorlando.iheart.com
· 2025-12-08
Florida ranked second nationally for elder fraud losses in 2023, with elderly residents targeted through tech support scams, impersonation schemes using AI-generated voice mimicry, investment fraud ($90+ million), and romance scams ($40+ million), according to FBI findings shared by Special Agent Zacharia Baldwin. Fraudsters are increasingly using artificial intelligence technology to impersonate relatives, making victims believe they are communicating with loved ones.
cbs12.com
· 2025-12-08
The FBI's 2023 Elder Fraud Annual Report documented a significant surge in financial exploitation of Americans over 60, who reported losses exceeding $3.4 billion—an 11% increase from 2022. Tech support fraud was the most commonly reported scam type, while investment schemes caused the largest financial losses; Florida ranked second nationally with seniors losing over $90 million to investment scams, $51.5 million to tech support fraud, and $40 million to romance scams. The FBI emphasizes the importance of timely reporting despite victims' reluctance due to shame, and encourages affected individuals to contact local FBI offices or the Internet Crime Complaint Center.
caribbeannationalweekly.com
· 2025-12-08
In 2023, Americans aged 60 and older lost over $3.4 billion to financial scams—an 11% increase from 2022—with tech support fraud and investment scams being the most common schemes. Florida ranked second nationally in elder fraud complaints and losses, with seniors there losing over $90 million to investment schemes alone. The FBI emphasizes that victims should report suspected scams immediately despite feelings of shame, as prompt reporting helps authorities address these crimes.
kttn.com
· 2025-12-08
Seven California residents were federally indicted for operating a conspiracy that defrauded elderly Americans nationwide using fraudulent Taiwanese passports, fake bank accounts, and money mules to collect victim funds through tech support scams, romance fraud, and imposter schemes. The scheme generated over $7 million in fraudulent deposits, with individual defendants depositing between $440,000 and $1.3 million into criminal accounts. The case was part of the Money Mule Initiative, which resulted in action against over 3,000 money mule networks in the year of prosecution.
natlawreview.com
· 2025-12-08
The U.S. Department of Justice charged 16 defendants in April 2024 for a scam that defrauded hundreds of elderly Americans out of millions of dollars using impersonation tactics. In 2023, individuals over 60 reported losses exceeding $3.4 billion from elder fraud—an 11% increase from 2022—with common scams involving investment fraud, tech support impersonation, and government impersonation. To prevent losses, experts recommend regular financial account monitoring, setting wire transfer restrictions, and establishing verbal verification processes before sending money.
justice.gov
· 2025-12-08
Five members of Ternion Group International LLC, a religious-based company, were charged with wire fraud conspiracy for defrauding a 92-year-old World War II veteran of over $300,000 from his retirement account. The scheme promised the victim $13 million in returns and ownership stakes in purported construction and job training projects, but he received nothing and one defendant allegedly used legal documents to gain power of attorney and control over the victim's accounts and property. Each defendant faces up to 20 years in federal prison and $250,000 in fines per count if convicted.
wmdt.com
· 2025-12-08
In 2022, Maryland residents age 60 and older lost $63.6 million to fraud, with online scams being the most common method. Common schemes targeting older adults include grandparent scams (requesting emergency money), romance and investment scams, and impersonation of law enforcement, often facilitated through information gathered on social media. Red flags to watch for include unexpected emails or calls with misspellings, suspicious URLs, and unsolicited requests for money or personal information; protective measures include enabling multi-factor authentication on accounts, verifying caller identity through official channels, and reporting suspected fraud to local law enforcement or the Federal Trade Commission.
miaminewtimes.com
· 2025-12-08
In 2023, romance scams resulted in over 64,000 reports and $1.1 billion in losses, predominantly affecting elderly victims who were deceived by scammers posing as romantic partners on dating apps and social media. Cristine Petitfrere, a 30-year-old from Florida, was arrested and sentenced to 30 months in prison for laundering nearly $3 million from romance scams by funneling money to Ghana; she personally facilitated transfers from three elderly victims in their 60s-70s who lost over $158,000 combined. Federal law enforcement has intensified prosecution efforts against romance scam networks, with romance fraud losses increasing
newlinesmag.com
· 2025-12-08
A 36-year-old Indian woman named Jhumpa Biswas was targeted by a romance scammer posing as "Mark Anthony," a Scottish cosmetic surgeon who initiated contact via Instagram with flattering messages. Over weeks of increasingly intimate communication across social media and WhatsApp, the scammer built emotional trust through romantic gestures, personal attention, and carefully crafted backstory, exploiting Biswas's limited romantic experience and emotional vulnerability. The article details how the scammer's grooming tactics—including flattery, validation, and demonstrations of care—set the stage for financial exploitation that would follow.
delawarelive.com
· 2025-12-08
Delaware's elderly population lost over $14 million to fraud in 2022, with 305 victims aged 60 and over suffering average losses of $45,977 each, according to FBI data analyzed by cybersecurity experts. The state recorded 106.6 fraud victims per 100,000 elderly residents, with investment scams, business impostor schemes, and romance scams being the most costly types nationally, while those aged 60 and over were 517% more likely to fall victim to tech support scams than younger adults.
finance.yahoo.com
· 2025-12-08
Massachusetts residents over age 60 lost more than $70 million to fraud in 2022, with 1,653 victims averaging $42,408 in losses per person, according to an analysis of FBI and FTC data by VPNPro. Seniors aged 60 and older were 517 percent more likely to fall victim to online tech support scams than younger adults, with investment scams, business imposter scams, and romance scams being the most prevalent types. Experts recommend that families discuss fraud prevention with elderly relatives, including warning signs such as requests for unusual payment methods, pressure to act quickly, and unsolicited offers.
boston25news.com
· 2025-12-08
Massachusetts residents over age 60 lost more than $70 million to fraud in 2022, with 1,653 victims averaging $42,408 in losses each, according to VPNPro's analysis of FBI and FTC data. Seniors in the state were 517 percent more likely to fall victim to online tech support scams than younger adults, with investment scams, business imposter scams, and romance scams being the most prevalent types. Experts recommend that adult children have conversations with elderly parents about fraud red flags and caution them against providing personal or financial information over the phone or through unusual payment methods.