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smdailyjournal.com
· 2025-12-08
A California man lost over $300,000 in a cryptocurrency "pig butchering" scam that began in 2022 when a woman posing as a Taiwanese trader named Anna convinced him to invest in a fraudulent platform called BankCEX, using fake trading statements to build trust before demanding an additional $115,000 in taxes and fees. The victim's stolen funds—consisting of USD Coin, Tether, and Ethereum—were traced to major exchanges including Binance, Crypto.com, and OKX, and he has filed suit against these platforms. The case highlights the need for better cryptocurrency investor education and law enforcement expertise as crypto scams continue to prolif
sandiegouniontribune.com
· 2025-12-08
California's elder fraud complaints fell 2 percent from 2022 to 2023 (from 145 to 142 complaints per 100,000 adults aged 60+), yet the state remains in the top 10 nationally for elder fraud complaint rates. The FBI reported that nationwide, elder fraud complaints increased 14 percent in 2023 with associated losses rising 11 percent, though complaint rates likely underrepresent actual fraud incidents.
pictongazette.ca
· 2025-12-08
Sandra Goldie was scammed out of approximately $200 after posting her 1991 Mazda Miata for sale on Kijiji; a buyer directed her to a fraudulent VIN report website (vinfax.com) claiming to need a vehicle history check, but the "report" was worthless and the buyer then disappeared with a fabricated excuse. The scam is particularly concerning because scammers obtained Goldie's credit card information and personal data that could be used for identity fraud, and police later discovered similar incidents affecting other sellers across Canada.
sunstar.com.ph
· 2025-12-08
Approximately 500 individuals in Lapu-Lapu City, Philippines were defrauded by an unlicensed real estate company selling non-existent or untitled land parcels since 2016, with victims paying between ₱3,000-₱5,500 monthly (one victim paid ₱450,000 over five years). The company lacked proper registration and licensing, and some purported lots were actually fish ponds that cannot be legally titled or sold. The city government is providing free legal assistance and coordinating with criminal investigators to recover victims' funds and prevent similar scams.
siliconvalley.com
· 2025-12-08
California experienced a slight 2 percent decline in elder fraud complaints from 2022 to 2023, dropping from 145 to 142 complaints per 100,000 adults aged 60 and older, according to FBI data analyzed by All About Cookies. However, California remains among the top 10 U.S. states for elder fraud complaints per capita, ranking tied for ninth place with Maryland at 142 complaints per 100,000 seniors, while the nationwide rate of elder fraud reports increased 14 percent in 2023 with associated losses rising 11 percent.
prnewswire.com
· 2025-12-08
The New York StateWide Senior Action Council identified AI-driven healthcare scams as their Medicare Fraud of the Month for September 2024, highlighting how artificial intelligence enables fraudsters to generate fake medical claims, steal identities, and create deepfake audio/video to commit healthcare fraud. The organization recommends seniors verify caller identity through trusted numbers, limit personal information shared online, and exercise caution with financial data, noting that Medicare fraud costs taxpayers over $60 billion annually. Seniors can report suspected fraud by calling 800-333-4374 or visiting nysenior.org.
wamc.org
· 2025-12-08
Educational efforts are underway in the Capital Region to teach seniors about artificial intelligence and online safety, with computer science professor Dr. Andrew Hurd explaining how to identify AI-generated images and protect themselves from scams. Multiple attendees shared personal experiences of fraud, including unauthorized charges to savings accounts and impersonation schemes, highlighting the importance of security measures like multi-factor authentication and family code words to prevent future victimization. The FTC reported Americans lost $10 billion to scams and fraud in 2023.
miningjournal.net
· 2025-12-08
This article describes three common scams targeting elderly people: grandparent scams (where callers pose as distressed relatives or law enforcement to solicit wire transfers), IRS scams (where fraudsters impersonate tax agents to steal money or personal information), and sweepstakes scams (where victims are promised prizes to encourage purchases or payments). The article emphasizes that geographic location offers no protection against these schemes and advises seniors and their families to recognize warning signs such as urgent requests for wire transfers, threats of arrest, and demands for sensitive personal information.
midislandtimes.com
· 2025-12-08
The Town of Oyster Bay and Nassau County District Attorney's office are partnering to host educational seminars in fall 2024 to help seniors and caregivers recognize and combat fraud schemes, recognizing that elderly residents face heightened vulnerability to scams due to limited technology familiarity, loneliness, and other factors. The seminars, held at community centers throughout the town, will cover common scam tactics, identification strategies, protective measures, and reporting resources. Two scheduled sessions are September 20 at Syosset-Woodbury Community Center and September 27 at Marjorie Post Park Community Center in Massapequa.
banking.senate.gov
· 2025-12-08
Senator Sherrod Brown testified before the Senate Banking Committee on the escalating problem of scams and fraud targeting Americans, particularly seniors. In 2023, Americans lost at least $10 billion to reported fraud—an increase of over $1 billion from the previous year—with Ohio alone experiencing $126 million in losses; scammers employ increasingly sophisticated tactics including AI voice mimicry, fake bank calls, and romance schemes to target retirees' savings. Brown emphasized that seniors, who represented more than half of fraud losses in Ohio, often hesitate to report crimes due to shame and self-blame, allowing criminals to continue victimizing others.
miamivalleytoday.com
· 2025-12-08
Since 2020, investment scams reported to the BBB Scam Tracker exceeded 4,000 reports, with 2023 marking a three-year high, as scammers increasingly blended romance and cryptocurrency schemes to defraud victims of large sums. Median losses surged from $1,000 in 2021 to nearly $6,000 in 2023, with scams often lasting months before detection and primarily originating from organized crime operations in Southeast Asia. The BBB advises victims to watch for red flags including unregistered investments, guaranteed returns, pressure tactics, unknown cryptocurrencies, and unsolicited friendship offers from strangers.
13newsnow.com
· 2025-12-08
In 2023, Virginians lost $265 million to scams, with the FBI's Norfolk office receiving approximately 2,700 elder fraud complaints that year alone. Common schemes include investment scams targeting seniors, jury duty scams impersonating law enforcement, romance scams (the top locally reported type with 17,000 national incidents in 2023), and business email compromise attacks. The FBI advises victims and the public to verify suspicious requests, avoid clicking suspicious links, maintain open communication with vulnerable relatives, and report incidents to IC3.gov or local FBI offices.
justice.gov
· 2025-12-08
Five men were indicted in federal court in Brooklyn for defrauding approximately $60 million from investors in Max Infinity Management LLC and related funds through false claims about fees, track record, and SEC registration, while diverting roughly $27 million for personal use including luxury purchases. The defendants—John Cangialosi, Peter Girgis, Gene Sarabella, Enrico Carini, and Caner Otar—charged undisclosed markups exceeding 95% on pre-IPO stock investments and lied about having no upfront fees and prior successful returns. The scheme involved misrepresentations about the fund's operations, fabricate
bankrate.com
· 2025-12-08
Scammers employ multiple tactics to steal credit card information, particularly capitalizing on economic changes like potential Federal Reserve rate cuts. Common scams include interest rate reduction schemes, student loan forgiveness offers, grandparent emergencies, and fake charity websites—all designed to pressure victims into providing payment information. To protect yourself, contact your lender or issuer directly rather than responding to unsolicited offers, verify website URLs carefully, and be skeptical of guaranteed results and limited-time offers.
newsweek.com
· 2025-12-08
Cristine Petitfrere, 30, of Miramar, Florida, pleaded guilty to laundering $2.7 million obtained through romance scams, in which she and co-conspirators created fake online personas to defraud vulnerable victims, many elderly, and transferred funds through bank accounts to associates abroad while retaining hundreds of thousands for herself. She faces up to 10 years in prison at her December 11 sentencing. Romance scams cost Americans $1.14 billion last year, with victims often deceived by fabricated stories and fake professional identities designed to extract money through wire transfers, cryptocurrency, or gift cards.
therecord.media
· 2025-12-08
The U.S. Treasury Department sanctioned Cambodian billionaire Ly Yong Phat and his businesses for alleged human trafficking and forced labor at online scam centers that defraud unsuspecting individuals, including Americans, through romance scams and cryptocurrency schemes. Hundreds of victims from multiple countries were rescued from compounds including the O-Smach Resort, where workers were forced to labor up to 15 hours daily under threats of violence, beatings, and sexual trafficking. The sanctions target the infrastructure supporting these scam operations while highlighting widespread corruption and official complicity in Cambodia that has enabled traffickers to operate with impunity.
theconversation.com
· 2025-12-08
"Hustle kingdoms" are informal training academies operating in West Africa (particularly Ghana and Nigeria) that teach individuals digital fraud techniques, with graduates carrying out online romance scams, business email compromise, and sextortion targeting victims globally. The U.S. lost approximately $50 billion to online scams in 2023, many linked to West African fraudsters, as these operations have evolved from 1980s-90s "business centres" into a coordinated global threat with hierarchical structures and increasingly sophisticated tactics. The phenomenon reflects a complex socioeconomic dynamic where some perpetrators justify their crimes as retaliation for historical injustices, while law enforcement and researchers emphasize the
cbsnews.com
· 2025-12-08
In 2023, cryptocurrency scams cost Marylanders nearly $94 million, with the state ranking 13th worst hit nationally among approximately 58,000 U.S. complaints, according to an FBI report. These scams frequently use emotional manipulation and romance tactics to lure victims into fraudulent investment schemes, with perpetrators collecting personal and financial data to facilitate theft. Experts recommend verifying online contacts, protecting cryptocurrency wallets, and remaining cautious of quick-return investment pitches, particularly when emotionally vulnerable.
whatjobs.com
· 2025-12-08
Cristine Petitfrere, 30, of Florida admitted to conspiring to launder over $2.7 million from romance scam victims by receiving funds in bank accounts, keeping a portion as fees, and forwarding the remainder to overseas co-conspirators. Romance scams involve fraudsters creating fake online personas to exploit victims financially, with Americans losing $1.14 billion to such schemes in 2023, many targeting elderly individuals. Petitfrere faces up to 10 years in prison at her December 11 sentencing in the Southern District of Florida.
fox4news.com
· 2025-12-08
"Sextortion" scams use fabricated claims of spyware and compromised webcams to extort victims, threatening to share alleged intimate videos or browsing history with contacts unless Bitcoin is paid. Scammers obtain victims' personal information—names, addresses, and photos—from public online sources and data breaches, then send targeted-seeming emails that are actually sent to numerous people in bulk. The FBI recommends reporting such extortion attempts to 1-800-CALL-FBI and advises victims to cover webcams and blur their homes on Google Maps, as these scams rely on easily accessible public information rather than actual spyware.
news.trendmicro.com
· 2025-12-08
Security experts warn of an evolving sextortion scam that uses victims' home addresses and photos sourced from Google Maps to increase psychological pressure and extract Bitcoin payments of $2,000-$2,200. The emails falsely claim the sender has compromised the victim's computer and recorded them via webcam, threatening to release fabricated videos to their contacts within 24 hours unless ransom is paid. The FBI recommends victims not comply with demands, avoid sending compromising images, cover webcams, and report incidents to law enforcement at 1-800-CALL-FBI or tips.fbi.gov.
nasdaq.com
· 2025-12-08
Cristine Petitfrere from Florida pleaded guilty to operating romance scams that defrauded victims of millions of dollars; she laundered over $2.7 million and earned hundreds of thousands in fees with a co-conspirator, facing up to ten years in prison at sentencing. The case highlights the widespread impact of romance scams, which caused Americans $1.14 billion in losses in 2023, often targeting elderly individuals with both severe financial and emotional harm. Additionally, a Nevada man was convicted of fraudulently obtaining $11.2 million in COVID-19 relief funds through fake Paycheck Protection Program loan applications.
wftv.com
· 2025-12-08
A Kissimmee man lost tens of thousands of dollars to a romance scam that evolved into a cryptocurrency investment scheme, after meeting a woman named "Lisha" on a dating website who convinced him to invest in what appeared to be a lucrative crypto trading platform. Initially investing $12,000, Amado was shown fake profits of over $240,000, but when attempting to withdraw funds, he was pressured to pay additional "taxes," "security fees," and other charges totaling approximately $39,000 before the scammers disappeared and the woman changed her phone number. The FBI notes that romance scams have become increasingly sophisticated, with perpetrators maintaining detailed records on victims and continually adap
oysterbaytown.com
· 2025-12-08
Nassau County District Attorney Anne T. Donnelly and Oyster Bay Town Supervisor Joseph Saladino are hosting fall educational seminars to help seniors recognize and prevent scams, addressing the heightened vulnerability of older adults due to limited technology familiarity, loneliness, and other risk factors. The seminars, scheduled for September 20th and 27th at community centers in Woodbury and Massapequa, will cover common scam tactics, reporting procedures, and strategies for protecting personal information and finances.
heraldstandard.com
· 2025-12-08
Older adults are frequent targets of financial exploitation, both through remote scams and by trusted individuals with power of attorney. In one notable Fayette County case, a woman was charged with over 1,600 felony counts for allegedly stealing more than $690,000 from an elderly dementia patient over several years after being granted power of attorney. Experts recommend careful selection of financial agents, maintaining oversight of accounts, and awareness of common scams like "romance scams," which cause the greatest monetary losses to seniors.
fox56.com
· 2025-12-08
Representative Mike Cabell is hosting a free educational seminar in Dallas, Pennsylvania on October 7 to help seniors recognize and protect themselves from financial fraud schemes. The event, led by David Shallcross from the Pennsylvania Office of Attorney General, will cover safety tips and current holiday scams targeting older residents. Reservations are required by September 30 by calling 570-675-6000.
kitchener.citynews.ca
· 2025-12-08
A senior in Fergus, Ontario lost $500 in a gift card scam on September 9, 2024, when a caller claimed they had won a lottery prize and instructed them to purchase gift cards, return home, and read the card numbers aloud while remaining on the line. The victim received a follow-up call the next day requesting $2,000 in additional gift cards but hung up and contacted police. Wellington OPP warns seniors to hang up on unsolicited calls requesting personal information or gift card payments and directs fraud victims to contact the Canadian Anti-Fraud Centre at 1-888-495-8501.
11alive.com
· 2025-12-08
During the 2022 election cycle, scammers targeted voters with millions of dollars in fraudulent political donation solicitations through emails, texts, and robocalls, with Americans receiving a record 15 billion political texts that year. Scammers operating fake PACs (Political Action Committees) exploited emotional issues like cancer research to pressure people into donating quickly without verifying legitimacy, with little to no proceeds actually going to the candidates they claimed to support. To protect themselves, donors should verify PACs through FEC registration records, donate by mail or credit card directly through official campaign websites with "https" security, and avoid clicking links or providing information through unsolicited communications.
propakistani.pk
· 2025-12-08
This educational article explains how older adults are increasingly vulnerable to online scams due to limited digital literacy, despite the importance of staying connected. Key threats include phishing emails (targeting 42% of victims aged 69+), social media scams (27% of Gen X victims affected), and fake tech support schemes where scammers gain device access. The article emphasizes that building digital confidence and understanding common online risks is essential to empower seniors to protect themselves in an increasingly digital world.
ellsworthamerican.com
· 2025-12-08
The U.S. Attorney's Office for Maine launched the Maine Rx Elder Fraud Program on September 5th, a collaborative initiative with AARP Maine and the Maine Council for Elder Abuse Prevention to educate older adults about scams through pharmacy distribution channels, beginning with informational brochures at 60 Hannaford in-store pharmacies. In 2023, over 101,000 Americans aged 60+ lost $3.4 billion to fraud, including 397 Mainers who reported losses totaling $7.1 million, though actual losses are believed to be significantly higher due to underreporting. The program aims to help seniors recognize common scam tactics
observer-reporter.com
· 2025-12-08
Older adults are frequent targets of financial exploitation through both remote scams and personal relationships. A Fayette County case exemplified the risks of power of attorney arrangements: a woman was charged with over 1,600 felony counts for allegedly stealing more than $690,000 from an elderly dementia patient over several years after being granted power of attorney in 2015. Experts recommend carefully vetting who receives power of attorney, monitoring financial accounts regularly when mentally capable, and remaining vigilant against "romance scams," which cause the largest monetary losses to older adults, typically through internet-based schemes using false personas.
nbcnews.com
· 2025-12-08
In 2023, U.S. victims reported $5.6 billion in losses to cryptocurrency scams, with people aged 60 and older filing over 16,000 complaints accounting for $1.6 billion of those losses. The majority of losses ($4 billion, a 53% increase from 2022) came from "pig butchering" investment scams, where fraudsters build fake romantic or friendship relationships with victims before convincing them to invest in bogus cryptocurrency platforms, often using crypto ATMs. Older adults are disproportionately targeted because they typically hold more wealth and are less familiar with cryptocurrency technology, according to the FBI and AARP.
aarp.org
· 2025-12-08
The Centers for Medicare & Medicaid Services notified nearly 947,000 Medicare beneficiaries that their personal information, including Social Security numbers and Medicare claim numbers, may have been compromised in a data breach affecting Wisconsin Physicians Service Insurance Corp., a claims processor in six states. The breach occurred between May 27-31, 2023, through a vulnerability in MOVEit file-transfer software, but was only discovered during a May 2024 security review; CMS and the contractor reported no confirmed cases of identity fraud resulting from the exposure but are advising beneficiaries to monitor their accounts.
chicago.suntimes.com
· 2025-12-08
Shalender Singh lost nearly $20,000 in an investment scam after a stranger contacted him on WhatsApp claiming to represent a legitimate investment firm and promising 30% returns through cryptocurrency. The scammer built trust over months by providing accurate market advice initially, added Singh to investor chat groups, and showed fake growth on a fraudulent app, but blocked him when he attempted to withdraw funds. According to the Better Business Bureau, investment scams are surging—particularly cryptocurrency and romance-based schemes—with reported losses reaching a median of $4,000 in 2023 and nearly $6,000 by mid-2024, with 80% of victims losing money and scammers
eastcentralreporter.com
· 2025-12-08
A Better Business Bureau study reports that investment scams are rising, with cryptocurrency and romance scams becoming increasingly sophisticated and harder to detect. Scammers use professional-looking websites and fake dating profiles to build trust before convincing victims to invest in fraudulent schemes promising high returns with minimal risk. The BBB advises consumers to verify investment opportunities through trusted sources before responding to unsolicited offers.
states.aarp.org
· 2025-12-08
This AARP survey of Maine residents reveals that while people of all ages generally view aging optimistically and believe wisdom comes with age, 91 percent of respondents acknowledge that older adults are vulnerable targets for fraud and scams. The survey also found widespread perceptions of age discrimination in employment and concerns about older adults' ability to manage technology and afford living expenses, highlighting the need for education to combat aging stereotypes and protect seniors from exploitation.
irs.gov
· 2025-12-08
This IRS educational article outlines common tax scam warning signs and how to protect yourself, including scams involving inflated refund promises, impersonators making threats, and dishonest tax preparers charging excessive fees. Key red flags include pressure tactics, demands for upfront payments, suspicious websites, and misleading social media advice about tax credits like the Employee Retention Credit and Fuel Tax Credit. The IRS advises taxpayers to know how the agency legitimately contacts them, verify tax preparer credentials, and be especially cautious if targeted for personal or financial information, particularly seniors over age 65.
news.slashdot.org
· 2025-12-08
Americans lost $5.6 billion to cryptocurrency fraud schemes in 2023, with the FBI receiving nearly 70,000 complaints involving bitcoin, ether, and other digital currencies. Investment fraud was the most prevalent scheme, accounting for $3.96 billion of the total losses, and the decentralized nature of cryptocurrency combined with irreversible transactions makes recovery of stolen funds extremely challenging.
foxnews.com
· 2025-12-08
The Google Voice verification scam targets online sellers on platforms like eBay and Facebook Marketplace by posing as potential buyers and requesting Google Voice verification codes, which scammers then use to create a virtual number linked to the seller's phone number. Once obtained, scammers can intercept bank verification codes, commit identity theft, open fraudulent accounts in the victim's name, and conduct additional scams while appearing to use a legitimate U.S. number. Sellers should be wary of buyers requesting codes before discussing items and verify unusual requests, as one New York seller, Allen C., avoided falling victim by recognizing suspicious behavior such as spelling errors and pressure tactics.
wgal.com
· 2025-12-08
Bitcoin ATM scams have surged dramatically, with reported losses increasing nearly tenfold to over $110 million in 2023 according to the Federal Trade Commission. Scammers typically contact victims claiming suspicious activity on accounts like Amazon or banking services, then convince them to withdraw cash and deposit it into Bitcoin ATMs where the money is transferred to the scammer's wallet. Consumers should never trust anyone—legitimate businesses and government agencies will never request Bitcoin ATM transfers to resolve account issues or protect funds.
vice.com
· 2025-12-08
Americans lost more than $5.6 billion to cryptocurrency scams in 2023, representing 45 percent increase from 2022 and nearly half of all financial fraud losses that year, according to an FBI report. Investment scams accounted for nearly 71 percent of crypto losses ($4 billion), with fraudsters also using call centers, government impersonation, and dating sites to target victims; notably, people over 60 filed nearly 17,000 complaints and lost $1.6 billion, making them the most victimized age group despite crypto's popularity with younger generations. The FBI attributes crypto scams' prevalence to the technology's decentralized nature, irrevers
cbsnews.com
· 2025-12-08
This educational article advises readers on identifying fraudulent political text messages, which often impersonate legitimate voter registration campaigns or solicit donations. To verify authenticity, individuals should visit official state websites (.gov or .us domains) directly rather than clicking unsolicited links, as third-party groups may use outdated data or send bogus messages designed to scam recipients.
freepressjournal.in
· 2025-12-08
Between September 2-7, 2024, 14 victims in Singapore were scammed out of at least SGD 100,000 through a phishing scam impersonating Singtel (Singapore Telecommunications Limited) via SMS messages. The victims received texts claiming their Singtel reward points were expiring and were directed to fake Singtel websites where they entered credit card details and one-time passwords, only discovering the fraud when their banks notified them of unauthorized transactions. This scam variant had been warned against by Singapore Police since June 2023, when at least 12 prior victims lost SGD 20,000 combined.
thethaiger.com
· 2025-12-08
A 54-year-old medical technician in Buriram lost 20,497 baht in a call centre scam when someone posing as a Provincial Electricity Authority officer convinced him to download a fake application under the guise of a Covid-19 refund scheme. The scammer had accessed detailed personal information and used social engineering tactics, including verification from a village head, to gain the victim's trust before emptying his bank account. The victim publicly warned others that scammers' access to detailed information makes these schemes difficult to detect, regardless of a person's caution or education level.
abc7news.com
· 2025-12-08
Americans lost $5.6 billion to cryptocurrency scams in 2023, with people over 60 accounting for nearly $1.6 billion of those losses, according to an FBI report. Scammers build trust with victims through social media and text messaging before pitching fraudulent investment opportunities and directing them to fake web apps and cryptocurrency kiosks to deposit funds. The FBI is working with law enforcement and banks to identify warning signs, though recovery chances remain slim and many victims remain unaware they have been defrauded.
bankinfosecurity.com
· 2025-12-08
In 2023, cryptocurrency scams surged dramatically in the United States, with victims reporting $5.6 billion in losses—a 45% increase from 2022—across more than 69,000 complaints to the FBI's Internet Crime Complaint Center. While seniors over 60 were most frequently targeted, people aged 30-39 also experienced significant losses, with investment scams involving bitcoin and other virtual currencies accounting for nearly 71% of total losses; fraudsters typically built rapport with victims through social media and email before moving conversations to encrypted platforms. Cryptocurrency kiosks were increasingly exploited in fraud schemes, with over 5,500 complaints involving $189 million in losses
coindesk.com
· 2025-12-08
Investors lost a record $5.6 billion to crypto scams in 2023, a 45% increase from 2022, with investment fraud schemes accounting for $4 billion of losses, according to FBI data. While crypto complaints represented only 10% of total fraud reports, they comprised nearly half of all financial losses; victims over age 60 reported the highest losses at $1.24 billion. The FBI warned that many scammers operating these "pig butchering" schemes are human trafficking victims forced to conduct fraud operations from compounds in Southeast Asia.
justice.gov
· 2025-12-08
The U.S. Department of Justice distributed $18.5 million from forfeited Western Union funds to approximately 3,000 fraud victims, representing the sixth distribution under the Western Union Remission Fund. Through two phases, the fund has now distributed over $420 million to more than 175,000 victims who received full compensation for losses caused by fraud schemes that Western Union aided and abetted, including grandparent scams and lottery/sweepstakes schemes targeting seniors. Western Union agreed to forfeit $586 million total following a 2017 deferred prosecution agreement for violations including the Bank Secrecy Act and wire fraud facilitation.
decripto.org
· 2025-12-08
Thailand reported 78.8 million phone scam and phishing cases since 2023, with international criminal gangs—often Chinese-coordinated—operating call centres primarily targeting people over 30, young adults aged 20-25, and online shoppers through romance scams and fake e-commerce schemes. Thai and Cambodian authorities have launched operations to dismantle these networks, with 165 arrest warrants issued, though gangs are relocating to neighboring countries; notably, a 60-year-old Thai woman lost over $160,000 in a year-long scam involving a fake Malaysian pipeline investment. U.S. authorities indicted four people in 2023 for
unionrecorder.com
· 2025-12-08
Since 2020, the Better Business Bureau has received over 4,000 reports of investment scams, with median losses rising from $1,000 in 2021 to nearly $6,000 in 2024. These scams frequently employ romance or relationship-building tactics combined with cryptocurrency investment schemes, often orchestrated by organized crime groups based in Southeast Asia, with victims losing anywhere from thousands to over $84,000. The BBB advises consumers to be wary of guaranteed returns, pressure to invest quickly, requests to share cryptocurrency wallets, and strangers offering friendship or investment opportunities.