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in Money Mule / Laundering
justice.gov
· 2025-12-08
**Summary:**
Stephanie L. Bonincontro, a 43-year-old from Oakdale, Pennsylvania, was indicted on wire fraud and money laundering charges for misusing a $500,000 Economic Injury Disaster Loan (EIDL) intended for her tree service business. She allegedly diverted approximately $250,000 into a personal investment account for money laundering and used $225,000 for personal expenses and credit card debt through a second company she owned. The charges carry a maximum sentence of 30 years in prison and up to $750,000 in fines.
abc6.com
· 2025-12-08
Three Georgia residents—Patrick Dallas, Stacey Robinson, and Owen Demoy Byfield—were charged with defrauding senior citizens across Rhode Island and other states out of at least $1 million through a fake Publishers Clearing House sweepstakes scheme, where victims were tricked into believing they won millions and pressured to pay upfront fees or taxes. One 77-year-old Rhode Island victim alone lost over $143,000 in cash, wire transfers, and luxury watches before a FedEx employee intervened; the defendants allegedly laundered funds through controlled bank accounts. The charges include conspiracy to commit mail and wire fraud and money laundering, with authorities noting that over 100,000
justice.gov
· 2025-12-08
Three Georgia residents have been charged with operating a multi-state Publishers Clearing House sweepstakes scam that defrauded seniors in at least ten states of over $1 million. The defendants allegedly convinced elderly victims they had won significant lottery prizes and directed them to send upfront fees, gift cards, watches, and checks to collect their winnings; one 77-year-old Rhode Island victim lost over $172,000 before a FedEx employee intervened. The defendants are charged with conspiracy to commit mail and wire fraud and money laundering, with proceeds allegedly used to purchase property through fraudulent mortgage applications.
m.economictimes.com
· 2025-12-08
Prime Minister Narendra Modi warned citizens against a sophisticated "digital arrest" scam in which fraudsters impersonate government officials via video call, falsely accusing victims of serious crimes like money laundering or drug trafficking, then extort large sums under threat of arrest. Two elderly victims from Hyderabad lost substantial amounts—a 79-year-old retired consultant transferred Rs 2 crore and an 85-year-old woman lost Rs 5.9 crore—after scammers used fake official documents and maintained intimidating video surveillance to prevent victims from seeking help. The article advises that legitimate law enforcement never conducts arrests or demands payments via video calls and recommends reporting
regtechtimes.com
· 2025-12-08
Three Georgia residents—Patrick Dallas, Stacey Robinson, and Owen Demoy Byfield—were charged in federal court for operating a sweepstakes fraud scheme targeting seniors across at least ten states, including Rhode Island, stealing at least $1 million. The fraudsters impersonated Publishers Clearing House representatives, convincing victims they had won large prizes and pressuring them to pay upfront fees via cash, gift cards, or valuable items; one 77-year-old Rhode Island victim nearly lost $163,000 before a FedEx employee's intervention alerted him to the scam. The defendants face charges for conspiracy to commit mail and wire fraud, as well as money laundering
justice.gov
· 2025-12-08
Viraj Patel, a money mule operating in Florida, was sentenced to 3 years and 10 months in federal prison for laundering at least $216,000 in proceeds from government-imposter fraud schemes targeting senior citizens. Patel picked up cash and gold from victims who had been deceived by India-based conspirators into believing their identities were compromised, including one victim who was tricked into surrendering $71,000 and later $50,000 in a single scheme. The court ordered Patel to forfeit $145,000 in traceable fraud proceeds.
rcmp-grc.gc.ca
· 2025-12-08
This is not a news article or detailed account of a specific scam or fraud case. Rather, it is an informational webpage from the Royal Canadian Mounted Police (RCMP) outlining their services and areas of focus, including a general mention that Canadians lose millions yearly to fraud and that the RCMP operates an Anti-Fraud Centre to help stop scams. The page provides links to resources and does not contain specific information about victims, scam types, dollar amounts, or outcomes related to elder fraud.
m.economictimes.com
· 2025-12-08
"Digital arrest" scams have become a widespread fraud in India where perpetrators pose as law enforcement officials via video call, falsely accusing victims of crimes and ordering them to remain isolated at home while transferring money to avoid arrest. Victims reported losing approximately Rs 120.3 crore during the first quarter of 2024 alone, with Prime Minister Narendra Modi recently warning the public that digital arrests do not legally exist in India and legitimate agencies never request personal information via phone or video call. The scam exploits fear-based social engineering tactics, often initiated with calls about overseas parcels containing drugs, misused identification, or family members in legal trouble.
cbsnews.com
· 2025-12-08
A Massachusetts woman lost thousands of dollars in a sophisticated impersonation scam when callers posing as Border Patrol and U.S. Marshals convinced her that a package with her name contained drugs and contraband. Despite verifying the callers' names and phone numbers on official federal websites (a technique called "spoofing"), she was directed to deposit money into a Bitcoin machine under the false premise that freezing her accounts would protect her assets. The scam, which uses advanced technology including AI voice replication and data scraping, has been reported nationally, and the victim now struggles to afford rent at her affordable housing complex.
starofmysore.com
· 2025-12-08
An 82-year-old retired resident in Mysuru lost Rs. 1.06 crore after receiving calls from fraudsters impersonating Mumbai Police officials and a telecommunications authority representative, who claimed his phone number was involved in obscene advertisements and money laundering, then convinced him to transfer funds for "verification" purposes. In a separate incident, a Mysuru-based doctor was defrauded of Rs. 12.11 lakh in a job scam by someone posing as a recruitment company representative offering employment in Qatar. Police advise citizens never to share personal or financial information with unknown callers and to verify such claims directly with local authorities, as genuine officials never request fund transfers
timesofindia.indiatimes.com
· 2025-12-08
A resident of Alambagh, Lucknow fell victim to a digital arrest scam in October 2024, losing Rs 1.24 lakh after receiving a fraudulent WhatsApp call claiming to be from TRAI that falsely linked her Aadhaar to unauthorized numbers involved in money laundering. The victim was subsequently contacted by someone impersonating a Mumbai Police official who instructed her to transfer funds to specified accounts for verification purposes, resulting in losses of Rs 64,000 and Rs 60,000 from her HDFC and Kotak accounts respectively. This was the 40th such digital arrest case reported in Lucknow since January 2024.
wired.com
· 2025-12-08
**Scammer Payback Answers Scam Questions** (11/05/2024)
YouTube scambaiter Pierogi from Scammer Payback identifies key red flags of scams, including pressure to make quick decisions, requests for remote computer access, and demands for payment via gift cards, Cash App, wire transfers, or Bitcoin. The video addresses common scam types including tech support pop-ups, romance scams (citing a case where a 90+ year old woman was defrauded of tens of thousands of dollars by someone posing as a celebrity), and explains why scammers prefer gift cards for money laundering and anonymity, while demonstrating
justice.gov
· 2025-12-08
Three individuals were sentenced for their roles in a Ghana-based romance scam targeting elderly Americans between March 2019 and March 2022. Sadia Alhassan (18 months prison), Shawn William Smith (1 day prison), and Mohammed Saaminu Zuberu (5½ months prison) served as money launderers and intermediaries, receiving funds that victims sent via mail and commercial carriers after being deceived into believing they had romantic relationships with scammers in Ghana. The defendants were ordered to pay $581,261.67 in restitution to their victims.
justice.gov
· 2025-12-08
A 21-year-old South Boston man was indicted for his role in an elder fraud conspiracy that defrauded a 75-year-old Berkshire County victim of approximately $500,000 between February and October 2024. The scheme involved a co-conspirator impersonating a U.S. Treasury Department official who convinced the victim to withdraw cash and hand it to couriers using prearranged passpins; the defendant was arrested while attempting to collect one of the cash boxes. The charge of conspiracy to commit wire fraud carries a potential sentence of up to 20 years in prison.
cbs12.com
· 2025-12-08
Three defendants—Tallahassee couple Sadia Alhassan and Shawn Smith, and Ghanaian man Mohammed Zuberu—were sentenced to prison for operating a military romance scam that defrauded elderly U.S. victims of approximately $500,000. The scammers contacted elderly victims online to pose as romantic interests, then instructed them to send money via USPS or commercial carriers to addresses and accounts controlled by Alhassan and Smith, who served as money launderers while Zuberu acted as an intermediary. Alhassan received 18 months in prison, Smith received one day plus community service, and Zuberu received 5
boston25news.com
· 2025-12-08
A 21-year-old South Boston man, Urvishkumar Vipulkumar Patel, was indicted on wire fraud conspiracy charges for his role in a scheme that defrauded a 75-year-old Berkshire County victim of approximately $500,000 between February and October. The scam involved a co-conspirator impersonating a U.S. Treasury Department official who falsely claimed the victim was involved in money laundering and instructed him to withdraw cash and place it in marked boxes for couriers to collect; Patel was arrested after attempting to pick up one of these boxes in North Adams on October 7.
yahoo.com
· 2025-12-08
Urvishkumar Vipulkumar Patel, 21, of South Boston was indicted on conspiracy to commit wire fraud charges for his role in a scheme that defrauded a 75-year-old Berkshire County man of approximately $500,000 between February and October. A co-conspirator posed as U.S. Treasury Department official "Sam Wilson" and convinced the victim to withdraw cash and place it in boxes for "safekeeping," with couriers (including Patel) collecting the funds using predetermined security procedures before authorities apprehended Patel in North Adams. The investigation is ongoing, and the conspiracy charge carries a potential sentence of
southernillinoisnow.com
· 2025-12-08
A 28-year-old Nigerian national, Ogheneofejiro Godswill Uzokpa, was sentenced to seven years in federal prison for operating a romance scam that defrauded at least a dozen elderly and disabled women across the United States of hundreds of thousands of dollars between March 2020 and February 2021. Uzokpa and his co-conspirators posed as romantic interests online to gain victims' trust, then used U.S.-based "money mules" to collect and transfer stolen funds totaling at least $329,470, which he was ordered to repay in restitution.
wsiltv.com
· 2025-12-08
A 28-year-old Nigerian man, Ogheneofejiro Godswill Uzokpa, was sentenced to seven years in federal prison for operating a romance scam that defrauded at least a dozen victims, primarily elderly or disabled women, of hundreds of thousands of dollars between March 2020 and February 2021. Uzokpa and co-conspirators posed as American professionals abroad using false identities, built romantic relationships to gain trust, then solicited money for fabricated emergencies like "processing fees," with U.S.-based accomplices acting as "money mules" to transfer funds to Nigeria. The court ordered Uzokpa to pay $329
justice.gov
· 2025-12-08
A Nigerian national, Ogheneofejiro Godswill Uzokpa, was sentenced to seven years in federal prison for operating a romance scam that defrauded at least a dozen victims—primarily elderly and disabled women—of hundreds of thousands of dollars between March 2020 and February 2021. Uzokpa and his co-conspirators posed as romantic interests online, built trust with victims, then requested money under false pretenses such as processing fees, using U.S.-based money mules to transfer funds to Nigeria. The judge ordered him to pay $329,470 in restitution to his victims.
justice.gov
· 2025-12-08
Trung Nguyen, a 48-year-old from Danvers, Massachusetts, was convicted of operating an unlicensed money transmitting business and money laundering after converting over $1 million in cash to Bitcoin between 2017 and 2020 through his company National Vending, LLC. Nguyen deliberately circumvented federal anti-money laundering regulations and knowingly facilitated transactions for criminals, including a methamphetamine dealer ($250,000) and multiple romance scam victims from whom he converted approximately $445,000 in stolen funds. Sentencing is scheduled for February 12, 2025.
giant.fm
· 2025-12-08
**Summary:**
Ogheneofejiro Godswill Uzokpa, a 28-year-old Nigerian national, was sentenced to seven years in federal prison for conducting a romance scam that defrauded at least a dozen victims, primarily elderly or disabled women, of hundreds of thousands of dollars between March 2020 and February 2021. Uzokpa and co-conspirators created fake online identities posing as professionals abroad, built romantic relationships with victims to gain trust, then requested money under false pretenses such as processing fees, using U.S.-based "money mules" to transfer the stolen funds to Nigeria. The court ordered Uzokpa to pay $329
irs.gov
· 2025-12-08
Three individuals were sentenced for their roles in a Ghana-based romance scam targeting elderly U.S. victims between March 2019 and March 2022: Sadia Alhassan (18 months prison), Shawn William Smith (1 day prison), and Mohammed Saaminu Zuberu (5½ months prison). The defendants served as money launderers and intermediaries, receiving funds that scam victims wired or mailed after being deceived into believing they were in romantic relationships with military personnel, with total restitution ordered at $581,261.67.
nbcboston.com
· 2025-12-08
Trung Nguyen, a 48-year-old Massachusetts man, was convicted Friday of money laundering charges for operating an unlicensed Bitcoin exchange service from 2017 to 2020 that converted over $1 million in cash into cryptocurrency. His operation facilitated money laundering for a methamphetamine dealer and multiple romance scammers, including $325,000 from a Kansas City victim, $60,000 from a Connecticut victim, and $60,000 from a Massachusetts victim. Nguyen faces decades in prison and hundreds of thousands in fines at his February 12 sentencing.
news18.com
· 2025-12-08
The Enforcement Directorate filed a writ petition with the Jharkhand High Court alleging that the state government failed to respond to 47 FIRs and multiple corruption complaints involving at least three ministers and four IAS officers over alleged scams in land, mining, sand, coal, and MGNREGA sectors between September 2022 and September 2024. The ED claims the state deliberately stonewalled investigations into what it characterizes as systematic corruption, while the ruling JMM party counters these are politically motivated allegations by the BJP ahead of assembly elections.
scmp.com
· 2025-12-08
Hong Kong police arrested 126 people in a 12-day operation targeting a rising trend of fake official scams that primarily victimized mainland Chinese students. The scams involved impersonators posing as police officers to extort money through fake kidnapping schemes, including one case where an 18-year-old student was told to record videos of himself begging for ransom to secure HK$6 million from his father. The operation uncovered 110 scam cases affecting 325 victims aged 18-86, who lost a combined HK$570 million.
legalserviceindia.com
· 2025-12-08
India's Securities and Exchange Board of India (SEBI) has prohibited transactions through "mule accounts"—bank or brokerage accounts used to conceal the true identity of individuals conducting illegal financial activities such as market manipulation, insider trading, and money laundering. The regulatory action targets a growing threat to market integrity, as rising digital trading platforms have made it easier for criminals to create mule accounts using fake or stolen identities to artificially inflate or deflate stock prices and mislead investors. This 2024 amendment strengthens SEBI's enforcement framework to enhance transparency, accountability, and investor protection in Indian securities markets.
singaporelawwatch.sg
· 2025-12-08
I cannot provide a meaningful summary of this content. The material appears to be a news feed or index listing from Singapore legal and business publications, containing only headlines and dates without article text or substantive details. While some headlines reference legal matters (bribery, fraud schemes, enforcement actions), there is insufficient information about any specific elder fraud, scams, or elder abuse incidents to create a summary for the Elderus database. To properly summarize content for this resource, please provide the full article text.
localmemphis.com
· 2025-12-08
Four Nigerian citizens were sentenced to federal prison for operating romance and investment scams between 2017 and 2021, using fake identities on social media and dating platforms to build relationships with victims before requesting money transfers. The scheme affected multiple victims across the U.S., with one West Tennessee victim losing over $400,000, and the defendants acted as money mules moving proceeds through bank accounts and shell companies. Sentences ranged from two-and-a-half to five years in federal prison.
actionnews5.com
· 2025-12-08
Four Nigerian citizens were convicted of operating romance scams across the United States between 2017 and November 2021, defrauding victims out of thousands to hundreds of thousands of dollars each by creating fake identities on dating websites and social media to build false romantic relationships and solicit emergency financial assistance. The defendants acted as "money mules," laundering stolen funds through multiple bank accounts and shell corporations to obscure the money trail; one victim in Tennessee alone lost over $400,000. The four received federal prison sentences ranging from 30 to 60 months, with sentencing occurring between April and October 2024.
justice.gov
· 2025-12-08
Four Nigerian citizens were sentenced to federal prison for operating international romance scams targeting U.S. victims from 2017 to 2021, with sentences ranging from 30 to 60 months. The defendants created fake identities on dating sites and social media to build romantic relationships with victims, then solicited money for emergencies, with losses ranging from thousands to over $400,000 per victim. The defendants functioned as "money mules," laundering proceeds through multiple bank accounts and shell companies to conceal the scheme's origins.
thehindu.com
· 2025-12-08
A 74-year-old woman in Hyderabad lost ₹37.9 lakh in retirement savings to a fake money laundering account scam, while a 63-year-old man lost ₹50 lakh to a WhatsApp stock trading fraud—part of a rising trend of sophisticated cyber crimes targeting India's elderly population. Research and expert analysis reveal that older adults are particularly vulnerable because they often underestimate their cognitive decline, experience reduced cognitive flexibility and increased impulsivity, and may be unaware of these changes, while scammers deliberately target lonely seniors and exploit emotional manipulation and false profit promises. India's estimated 3.8 million people living with dem
americanbanker.com
· 2025-12-08
A retired Navy commander in Virginia had his estate drained of $3.6 million through 74 wire transfers to Thailand while suffering from diminished mental capacity due to a stroke, with his bank failing to prevent the fraud despite an address as suspicious as "165 alley behind the old Phraya Karai Temple Wat." In a separate case, an 84-year-old Los Angeles man and his 76-year-old wife lost $18.5 million of $29.5 million moved from their accounts after scammers convinced them of a data breach, with Bank of America failing to flag the highly anomalous transactions. These cases highlight systemic vulnerabilities in bank oversight
oklahoman.com
· 2025-12-08
Oklahoma City is warning residents about a resurging scam where callers impersonate municipal court employees or law enforcement, demanding immediate payment of fake fines over the phone under threat of jail. The city advises residents to hang up, independently verify any debts by calling OKC Municipal Court at (405) 297-3898 or checking okc.gov/court, and notes that scammers increasingly use spoofed numbers, actual deputy names, and payment methods like gift cards and cryptocurrency to steal money.
guardian.ng
· 2025-12-08
Four Nigerian citizens residing in the U.S. and Canada were sentenced to federal prison (ranging from 2.5 to 5 years) for operating romance and investment scams between 2017 and 2021, using fake identities on dating sites and social media to deceive victims into sending money via wire transfers and mail. The conspiracy involved dozens of victims who lost between thousands to over $400,000 each, with the defendants functioning as "money mules" to launder proceeds through shell companies and multiple bank accounts. The FBI and U.S. Postal Inspection Service investigated the case, which was prosecuted by the U.S. Attorney's Office for the Western District of Tennessee
edmonton.ctvnews.ca
· 2025-12-08
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saharareporters.com
· 2025-12-08
Four Nigerian nationals—Patrick Edah, Efe Egbowawa, Igocha Mac-Okor, and Kay Ozegbe—were sentenced to federal prison (30 to 60 months) for operating a romance and investment scam that defrauded victims across the U.S., including Western Tennessee, from 2017 to 2021. The defendants used fake identities and dating site profiles to establish romantic relationships and solicit emergency financial assistance, with victims losing thousands to hundreds of thousands of dollars, including one Tennessee resident who lost over $400,000. They were convicted of conspiracy to commit money laundering after laundering scam proceeds through
nationthailand.com
· 2025-12-08
Police arrested six suspects—four Thai nationals and two Nigerian men—who operated romance scams and used over 1,000 mule bank accounts to launder money for international criminal networks, defrauding victims of more than 50 million baht. The gang leader, identified as a Nigerian national named Christian, facilitated transactions exceeding 1.2 billion baht through accounts linked to foreign call centers, drug dealers, and other scam operations. The suspects face charges including public fraud, computer crimes, and money laundering, with authorities warning the public that opening bank accounts for others can result in up to three years imprisonment and 300,000 baht in fines.
paymentsjournal.com
· 2025-12-08
Cross-border payments, which represent only 11% of card transactions but account for 63% of card-related fraud, pose significant risks to consumers and financial institutions globally. In the UK alone, authorized push payment (APP) scams—where victims are tricked into sending money to criminals—caused £239 million in losses in the first half of 2023, with one in three UK cross-border payment users reporting victimization. To combat this growing threat, experts recommend implementing collaborative information-sharing frameworks between financial institutions, adopting tokenization technology, and establishing universal standards like ISO 20022 to improve fraud detection and reduce the physical distance advantage that enables criminals to evade capture.
thehackernews.com
· 2025-12-08
Google has identified sophisticated scam techniques including landing page cloaking, where fraudsters impersonate legitimate websites and use AI-generated deepfakes to conduct investment fraud and credential theft schemes. The report highlights emerging tactics such as scareware redirects, app clones, and cryptocurrency scams originating from organized crime syndicates in Southeast Asia, with Google blocking over 5.5 billion policy-violating ads in 2023 and launching new scam detection features in its Android Phone app to protect users.
timesofindia.indiatimes.com
· 2025-12-08
Three men from Uttar Pradesh, Delhi, and Gujarat were arrested for a digital extortion scam targeting a graphic designer at an MNC who was held on video call for four hours and defrauded of Rs 2 lakh. The scammers impersonated Mumbai police to convince the victim she was involved in money laundering and threatened to block her bank accounts if she didn't comply with their instructions. The investigation revealed the accused were trading in fraudulent bank accounts (mule accounts) supplied through a network that provided login credentials and SIM cards to criminals across the border to steal money from victims.
gistmania.com
· 2025-12-08
Thai police arrested two Nigerian men and four Thai nationals in November 2024 as part of "Operation Black Horse Down," an investigation into a romance scam ring that defrauded victims of over 50 million baht. The gang operated more than 1,000 mule bank accounts through which 1.2 billion baht in transactions were processed for foreign criminal networks including drug dealers and call centers. The suspects face charges including public fraud, computer crimes, and money laundering, with authorities warning the public that opening bank accounts for others in exchange for payment is illegal and carries penalties of up to three years in prison and 300,000 baht in fines.
dhs.gov
· 2025-12-08
A Danvers, Massachusetts man, Trung Nguyen, was convicted of operating an unlicensed money transmitting business and money laundering after converting over $1 million in cash to Bitcoin through his unregistered company National Vending, LLC between 2017 and 2020. Nguyen deliberately evaded banking regulations and accepted cash from scam victims and a drug dealer, knowingly facilitating their criminal activities by converting their proceeds into cryptocurrency without filing required reports or registering with federal authorities.
timesofindia.indiatimes.com
· 2025-12-08
A 77-year-old retired engineer in New Delhi was defrauded of over Rs 10.3 crore in a digital arrest scam between September 25 and October 14, during which scammers impersonated Mumbai Police and CBI officials via video calls, falsely accusing him of money laundering and threatening legal action while demanding he transfer funds in three installments. The victim was isolated for 19 days under threats not to contact family, only realizing the fraud when his brother intervened and convinced him he was being scammed. Delhi Police's IFSO unit is investigating the case.
browndailyherald.com
· 2025-12-08
In early March, a Warwick grandparent couple lost $18,000 to a "grandparent scam" in which fraudsters impersonated their grandson needing bail money; when asked for an additional $40,000, the couple recognized the scheme and contacted police, leading to the arrest of two out-of-state men who were found with $60,000 in cash and allegedly collected $230,000 from similar schemes. Rhode Island has experienced a 22% growth rate in elder fraud cases between 2022 and 2023—the third-highest in the nation—prompting increased law enforcement investigations, legislative proposals to combat scams, and awareness campaigns by organizations like
justice.gov
· 2025-12-08
Three New York residents—Rohan Lyttle (97 months), Caron Pitter (66 months), and Charlene Marshall (34 months)—were sentenced to prison for their roles in a Jamaican lottery scam targeting elderly Americans between 2017 and 2020. The defendants received and laundered funds from victims who were falsely told they had won Publisher's Clearing House prizes and needed to prepay taxes, with victims losing over $1.1 million collectively through cash packages, wire transfers, and fraudulent credit card and ATM withdrawals in Jamaica; each defendant was ordered to pay $245,147.98 in restitution.
justice.gov
· 2025-12-08
A Bronx man, Bashiru Ganiyu, was sentenced to 13 years in prison for his role in an international fraud and money laundering scheme that targeted elderly victims through romance scams between 2020 and 2022. Ganiyu received nearly $12 million from over 40 victims into bank accounts he controlled, deceiving them into sending money under the false pretense of romantic relationships, then laundering the proceeds to co-conspirators based in Ghana. He was ordered to forfeit over $11.7 million and pay restitution of approximately $7.7 million.
finance.yahoo.com
· 2025-12-08
A Federal Reserve research paper warns that even vigilant consumers face increasing risk from authorized push payment (APP) scams, as criminals use advanced technology to create increasingly realistic fraud schemes on platforms like Zelle. In 2023, Zelle customers disputed over $206 million in fraudulent transactions, with consumers bearing 80% of the costs and having little recourse once payments are executed. The Fed recommends that instant payment networks adopt more sophisticated fraud-fighting strategies, while scammers continue to evolve their tactics through methods such as fake accounts, mule schemes, and potentially AI-generated personas.
paymentsdive.com
· 2025-12-08
As scammers increasingly use advanced technology to create realistic fraud schemes, authorized push payment scams—where criminals persuade consumers to voluntarily send money through instant payment networks like Zelle—pose a significant threat even to vigilant consumers. In 2023, Zelle customers disputed over $206 million in fraudulent transactions, with consumers bearing the costs of 80% of those disputes, and the paper notes that once payment is authorized, victims have little to no recourse since transactions are often irrevocable. The Federal Reserve recommends that financial institutions adopt artificial intelligence and machine learning to assess scam risk and alert customers before high-risk transactions are executed.
africa.businessinsider.com
· 2025-12-08
The FBI targeted a romance scam operation linked to $5 million in fraudulent cryptocurrency schemes affecting approximately 71 victims, including a 60-year-old from North Carolina and an 83-year-old from Minnesota. Scammers used fake identities on social media to build romantic relationships with victims before directing them to invest in a counterfeit cryptocurrency platform called Bitkanant, after which they cut off contact and disappeared with the funds. The U.S. Attorney's office seized nearly $5 million in Tether cryptocurrency in August, with one victim losing an entire retirement account, and the FBI is working to identify perpetrators and return assets to victims.