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Search across 22,013 articles about elder fraud. Filter by fraud type, payment mechanism, or keywords.
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in Scam Awareness
philomathnews.com
· 2025-12-08
Seniors lose approximately $3 billion annually to scams, making them prime targets due to their savings, home ownership, good credit, and often lower digital literacy. The article identifies 10 common scams targeting older adults, including romance scams (fraudsters posing as romantic interests), funeral scams (exploiting grief over deceased spouses), grandparent scams (impersonating grandchildren in emergencies), phishing (fake emails from financial institutions), Medicare fraud, and tech support scams, among others. Prevention strategies include securing social media accounts, verifying contact information through reverse searches, and calling family members directly to confirm emergencies.
messagemedia.co
· 2025-12-08
The Senior LinkAge Line is offering two educational classes on September 11 to help older adults detect, understand, and report healthcare fraud, waste, and abuse, including Medicare scams and how to protect beneficiary numbers. The free online classes, offered in partnership with the Minnesota Board on Aging and the Senior Medicare Patrol program, cover reading Medicare paperwork and identifying potential errors and scams targeting seniors. Registration is available through www.arrowheadaging.org or by calling 800-333-2433 by the registration deadline.
morningstar.com
· 2025-12-08
Investment fraud targeting older adults is growing significantly, driven by emerging technologies like cryptocurrency and artificial intelligence that make scams increasingly sophisticated and convincing. According to Kathy Stokes, AARP's director of fraud prevention, Americans lost a record $10 billion to scams and fraud in 2023, with crypto-related schemes and AI-enabled fraud posing particular threats to financial security. Stokes emphasizes the importance of education and awareness as key protective measures for older adults vulnerable to these evolving fraud schemes.
wdrb.com
· 2025-12-08
The Better Business Bureau reported multiple scams circulating in the Kentuckiana region, including fraudulent charity phone calls impersonating firefighters, Facebook scams advertising fake businesses, auction fraud, and RiverLink phishing scams. The BBB advised residents to hang up on unfamiliar charities and verify organizations online, avoid clicking third-party social media links, and visit company websites directly before making purchases. Using credit cards for transactions is recommended as a more secure payment method.
communitynewspapergroup.com
· 2025-12-08
**Summary:**
Iowa State University Extension and Outreach hosted an educational program called "Stay Independent: Spot, Stop and Avoid Fraud" at Vinton Public Library on September 24, 2024, designed for adults 60+ and their caregivers. The workshop provided information on identifying common fraud schemes targeting older adults, understanding why seniors are vulnerable to financial exploitation, and learning protective strategies, with the program noting that elder financial fraud is the most common form of elder abuse affecting over 50 million Americans aged 62 and older.
planadviser.com
· 2025-12-08
This article provides guidance on cybersecurity best practices for retirement plan sponsors to defend against fraud, account takeovers, and emerging threats like AI-generated deepfakes. Key recommendations include implementing a comprehensive program covering people (employee training), processes (regular policy reviews and updates), and technology (data protection and incident response plans), along with adding IT representation to plan committees and conducting rigorous vendor due diligence. The article references the SPARK Institute's cybersecurity framework and Department of Labor guidelines as resources for establishing security controls and resilience measures.
southeastiowaunion.com
· 2025-12-08
Iowa County Sheriff Rob Rotter reports that scams are vastly underreported due to victim embarrassment, with an estimated 59 million people scammed annually and $50,000-$60,000 lost yearly in Iowa County alone. Rotter highlighted common scams including lottery/tax schemes (one couple lost $130,000 across multiple scams), robocalls targeting seniors with health insurance offers, and "grandparent scams" where callers impersonate grandchildren in distress, recommending victims report fraud to authorities and verify caller identity by hanging up and calling back known numbers.
hackread.com
· 2025-12-08
**Summary:**
Cybersecurity researchers identified a global phishing campaign since 2023 targeting pizza restaurant chains, particularly in Canada, that uses domain spoofing and typosquatting to create fake order websites and steal customer credit card information and one-time passwords. The scammers registered malicious domains mimicking major chains including Domino's, Pizza Pizza, Boston Pizza, Panago, and Little Caesars, using paid search advertising to boost visibility; as of early 2024, the campaign had claimed multiple victims with documented losses of approximately S$27,000 (Singapore dollars) in one variant alone. Customers can protect themselves by verifying domain names carefully, enabling multi-factor authentication
aol.com
· 2025-12-08
A Georgia family of eight fell victim to a rental scam after paying $1,200 and signing a fake lease for a house they were told they could rent affordably; nine days after moving in, police informed them they were trespassing and the family lost their money and some belongings. Scammers typically locate vacant homes listed for sale, gain access through property showings, create fake leases, and collect deposits before disappearing. To protect yourself, meet landlords in person before paying anything, verify property ownership through public records, and never send money upfront for application fees or deposits.
ca.style.yahoo.com
· 2025-12-08
A woman in Spain nearly fell victim to a romance scam in 2021 when she met a man posing as a currency trader on Facebook Dating who moved conversations to WhatsApp and offered to teach her profitable trading through a fake platform. She recognized the scam before depositing significant money, noting that the con followed the classic pattern where scammers build trust through emotional manipulation and false trading screenshots before requesting escalating deposits. The author notes that in 2022 alone, approximately 70,000 Americans lost $1.3 billion to similar romance and investment scams that use fraudulent trading platforms.
intelligentciso.com
· 2025-12-08
Cryptocurrency scams surged in 2024 with billions in illicit inflows, with 43% of scam proceeds going to newly created wallets, indicating a sharp rise in fresh schemes compared to prior years. Scammers are shifting tactics from lengthy Ponzi schemes to shorter-lived, targeted campaigns like romance scams (pig butchering), which have grown 85-fold since 2020 and cause the worst average victim impact; one fraud shop alone facilitated $10.5 million in romance scam activity from 2022-2024 by selling millions of fraudulent social media profiles. Experts advise vigilance against unexpected communications and immediate caution when money transfers
finextra.com
· 2025-12-08
Singapore's Ministry of Home Affairs is consulting on a new Protection from Scams Bill that would authorize police to restrict banking transactions of individuals who refuse to acknowledge they are being scammed despite warnings from authorities, family, and friends. The legislation targets digital scams—particularly romance and impersonation schemes—where 86% of reported cases in the first half of 2024 involved victims voluntarily transferring money to scammers. Restriction Orders would only be imposed after police determine a person is being actively targeted and other intervention attempts have failed.
keyt.com
· 2025-12-08
Senate Bill 278 (SB 278) was approved by the California Legislature and awaits the Governor's signature to become law, establishing clearer requirements for banks and credit unions to combat elder and dependent adult financial abuse. The bill requires financial institutions to create emergency contact programs and delay transactions of $5,000 or more for at least three business days when an elder or dependent adult is involved, allowing time to verify the transaction's legitimacy and contact an emergency financial contact. This legislation aims to close loopholes in current law that allow financial institutions to avoid accountability by claiming ignorance of fraud, thereby better protecting California's vulnerable populations from increasingly common financial scams.
dailyhodl.com
· 2025-12-08
The FTC warned consumers about crypto ATM scams in which fraudsters pose as bank employees, government officials, or tech support to trick victims into depositing cash into Bitcoin ATMs. From 2020-2023, losses from these scams increased tenfold to over $110 million, with victims losing an average of $10,000 each; in the first half of the year alone, $65 million was stolen.
dugout.ph
· 2025-12-08
**Summary:**
This educational article advocates for Media and Information Literacy (MIL) training as a protective tool for senior citizens who face heightened vulnerability to online scams and misinformation due to limited digital skills and age-related cognitive decline. MIL programs teach seniors critical thinking skills, fact-checking techniques, and source evaluation methods to safely navigate digital platforms, with successful initiatives like SUM (Seniors United Against Misinformation) demonstrating the effectiveness of community-based training and family support in empowering seniors to resist fraud and misinformation.
foxnews.com
· 2025-12-08
A woman in New Jersey received a phishing email impersonating the Social Security Administration claiming her Social Security number was compromised and requesting she open an attached document. The article explains that phishing scams use fake official emails with urgent language to trick victims into opening malware-laden attachments or divulging personal information, and provides guidance on recognizing these scams, steps to take if you receive one (flag as spam, don't open attachments, don't respond), and prevention measures such as verifying your Social Security account and using two-factor authentication.
knoe.com
· 2025-12-08
Scammers are targeting parents and students by posing as school representatives and calling about unpaid tuition or remaining balances. The Better Business Bureau advises recipients to hang up and contact their school's financial aid office directly rather than paying over the phone, as these unsolicited calls are typically fraudulent. Victims can report such scams to the Better Business Bureau at (318) 387-4600.
cnbc.com
· 2025-12-08
Reported losses from Bitcoin ATM scams surged nearly tenfold since 2020, reaching over $110 million in 2023, with consumers over 60 being more than three times as likely to fall victim compared to younger adults. Scammers impersonate customer service representatives, government officials, or tech company employees to convince victims that their accounts have been compromised, then direct them to scan QR codes and deposit cash into Bitcoin ATMs that immediately transfers the funds to the fraudsters. The proliferation of Bitcoin ATMs in high-traffic retail locations combined with readily available personal data on the dark web has enabled this fraud scheme to flourish.
businessinsider.com
· 2025-12-08
According to the Better Business Bureau's 2023 report, Gen Z (ages 18-24) reported the highest median loss to scams for the second consecutive year, averaging $155 per person, primarily from employment, online purchase, and cryptocurrency scams. While younger people overall lost the most money, people over 65 suffered the largest individual losses to romance scams, which surged dramatically with median losses increasing from $1,411 in 2022 to $3,600 in 2023, with scammers increasingly using cryptocurrency to defraud victims. The report also found that scammers are increasingly targeting minors (ages 7-18), with 16% of
dailyhodl.com
· 2025-12-08
Kenneth Brown Jr. and Nicholas Shepard, operators of Golden Eagle precious metals exchange, pleaded guilty to conspiracy to commit wire and mail fraud for their role in a nationwide scam that laundered $600,000 from romance scam victims between 2021 and 2022. The scheme involved victims of "pig butchering" romance scams sending money to Golden Eagle, which was then converted to cryptocurrency on the Voyager platform; Brown's attorney claims both men were unknowingly groomed into participating and that Brown cooperated with authorities upon discovering the fraud. Both face up to 20 years in prison and $250,000 in fines.
pattayamail.com
· 2025-12-08
A 34-year-old man named Supornchai was arrested in Bangkok for fraud and computer crimes after receiving a fraudulent payment of 20,000 baht from a victim who believed they were paying customs fees for a package from abroad, when the scam was actually orchestrated by a woman named Ms. Wan who recruited him to open a bank account for money laundering purposes. Police warned the public about romance and impersonation scams on social media, where perpetrators pose as trustworthy figures to manipulate victims into transferring money, and advised people to avoid trusting online acquaintances, never send money to strangers, and maintain secure accounts with strong passwords.
aol.com
· 2025-12-08
Georgia drivers have been targeted by a scam involving fraudulent text messages claiming unpaid Express Lane fees, with links designed to steal personal and financial information. The messages create urgency to pressure recipients into immediate payments, potentially leading to identity theft and financial loss. Victims should contact their banks, reset passwords, report to the FTC, and remember that the State Road and Tollway Authority never requests personal information via text or email.
dlnews.com
· 2025-12-08
Chainalysis's mid-year crypto crime report revealed that Chinese-language marketplaces, particularly the Cambodian platform Huione Guarantee, have become major hubs for cryptocurrency-based fraud and money laundering in Southeast Asia, processing over $49 billion in transactions since 2021. The peer-to-peer marketplace facilitates illicit activities including pig butchering scams, investment fraud, and money laundering through thousands of independent merchants operating via Telegram, while claiming neutrality and not verifying transaction legitimacy. Criminal operations in the region exploit the platform alongside coerced workers in special economic zones across Cambodia and Myanmar to conduct large-scale crypto fraud schemes.
cryptotvplus.com
· 2025-12-08
Since 2019, crypto ATMs have facilitated at least $160 million in illicit transactions globally, with scammers increasingly targeting elderly victims by impersonating loved ones and directing them to deposit cash into these machines. The Internet Crime Complaint Center reported over 15,000 digital asset scam complaints from people aged 60 and older in 2023 alone, with losses exceeding $1 billion and 2,000 complaints involving Bitcoin ATMs. Law enforcement agencies worldwide have responded by shutting down hundreds of illegal crypto ATMs and prosecuting operators, while researchers have identified patterns of suspicious cross-border transactions to help detect fraudulent activity.
headtopics.com
· 2025-12-08
Romance scams cost Australians $40 million in 2023, with South Australia accounting for $2.1 million of losses, prompting police warnings during Scams Awareness Week. A case study involved Karen from Adelaide, who lost $50,000 to a fraudster she met online who posed as an overseas-based man and eventually asked for money under the guise of educational costs; when she traveled to meet him in person, he never appeared. Scammers typically target people over 55 through fake profiles on dating websites and social media, building trust before requesting money for emergencies or investment opportunities, a technique known as "catfishing" or "romance baiting."
kbsi23.com
· 2025-12-08
The Better Business Bureau warns of bait-and-switch scams on Facebook where scammers post fabricated heartwarming stories (missing children, lost pets, seniors in need) with stolen or AI-generated images in local buy-and-sell groups, then edit the post after users share it to promote fraudulent sales, job offers, rental schemes, or donation requests designed to steal money or personal information. Social media engagement with scammers increased 63.8% from 2022 to 2023, making it the top scam contact method resulting in monetary losses that year. The BBB recommends verifying posts through official sources, performing reverse image searches, checking for red flags like disabled comments
concordmonitor.com
· 2025-12-08
Quit-claim fraud is an emerging scam where criminals forge property deed documents to illegally transfer homeownership without the victim's knowledge or payment, as happened at Elvis Presley's Graceland mansion. The scam exploits easily accessible personal and property information combined with advanced document forgery technology, and victims must pursue costly legal action to recover their property. New Hampshire offers free protection through a fraud alert system that notifies property owners via text or email whenever documents bearing their name are filed with the county registry of deeds.
audacy.com
· 2025-12-08
The Federal Trade Commission warns of a dramatic rise in imposter scams where fraudsters impersonate legitimate companies like Amazon and Microsoft through spoofed calls and texts, with victims reporting $2.7 billion in losses last year. These sophisticated scams create false security threats and pressure victims to move money to cryptocurrency platforms or wire transfers by positioning themselves as problem-solvers, often using "tag-teaming" tactics where scammers transfer victims between fake representatives of different companies. The FTC advises hanging up and independently verifying callers by contacting companies directly through known phone numbers, and urges victims to report scams at ReportFraud.ftc.gov.
indeonline.com
· 2025-12-08
Disaster victims face document replacement scams where fraudsters impersonate government agencies or create lookalike websites to charge upfront fees for replacing vital documents like Social Security cards, driver's licenses, and birth certificates—services often available free through official channels. Scammers collect personal and financial information through fake websites and unsolicited calls/texts claiming victims need to replace Medicare, Medicaid, or Social Security cards. The Better Business Bureau advises victims to verify website URLs (looking for "HTTPS://" and lock icons), avoid third-party services without BBB verification, use credit cards for disputes, and report scams to BBB.org or the Federal Trade Commission.
wbgo.org
· 2025-12-08
New York State's Attorney General has issued a warning about AI-deepfake scams targeting investors, where sophisticated criminals use artificial intelligence to manipulate videos of wealthy business leaders like Elon Musk, Warren Buffett, and Jeff Bezos to falsely endorse fraudulent investment products. These deceptive social media ads trick victims into sending money to scammers under the pretense of legitimate investments. The scams specifically target vulnerable New Yorkers seeking investment opportunities.
ksisradio.com
· 2025-12-08
A phishing text scam impersonating the Illinois Tollway has been targeting residents by falsely claiming they have outstanding toll fines and directing them to click malicious links. The Illinois Tollway has confirmed the scam is active and advised customers to ignore such texts and verify any toll issues directly through their official website or customer service line at 1-800-824-7277, with law enforcement now investigating the fraudsters.
boredpanda.com
· 2025-12-08
This educational article compiles Reddit users' perspectives on widespread consumer practices they view as scams, including premium TV services adding advertisements despite paid subscriptions (particularly Amazon Prime), and for-profit healthcare systems in the United States. The piece presents commentary on how these industries generate profit through deceptive practices and discusses systemic issues like healthcare-related bankruptcies and rising subscription costs, without reporting on any specific fraud cases or victims.
registercitizen.com
· 2025-12-08
Scammers have been sending phishing emails impersonating the Westport Weston Family YMCA to steal personal information from community members. The YMCA advises recipients to verify sender email addresses (official emails use @westporty.org domain), avoid clicking suspicious links or providing sensitive information, and call the YMCA directly using independently verified phone numbers if membership or payment issues are mentioned. Suspicious emails should be reported to the BBB Scam Tracker, and users should keep antivirus software updated.
odt.co.nz
· 2025-12-08
Bryce Gray, a 74-year-old retired engineer in New Zealand, lost $22,500 in June to a NZ Post phishing scam while selling a bedside clock on Facebook Marketplace. A scammer posing as a buyer provided a fraudulent link claiming to be from NZ Post, and when Gray clicked it, scammers gained access to his banking credentials and made two large unauthorized withdrawals. After 10 weeks of dealing with fraud recovery, his bank (BNZ) initially recovered $3,000 and later provided a full reimbursement through a goodwill payment.
asiaone.com
· 2025-12-08
Local actress Kimberly Chia and her husband Vincent Yeo nearly fell victim to a sophisticated scam involving a fake school teacher who posed as a buyer and then pressured them into purchasing beds on the school's behalf, dangling a commission and using urgency tactics to request nearly $16,000. The scam was detected when the alleged $15,840 "transfer" never appeared in their bank account, and the scammer used high-pressure phone calls and threats to convince them to proceed. Chia publicly warned small business owners about the scheme via TikTok, noting that the secondary school had received similar fraudulent calls for seven weeks and that multiple other business owners had fallen victim to
thethaiger.com
· 2025-12-08
A 27-year-old man in Pattaya, Thailand lost his Honda Wave 110i motorcycle on August 25 after being deceived by two Facebook acquaintances who posed as friends needing help with a ride-hailing app issue and requested to borrow the bike for five minutes to pick up a sibling. The scammers disappeared with the motorcycle and became unreachable; the victim filed a police complaint with Bang Lamung Police Station, but the vehicle remains missing.
thefintechtimes.com
· 2025-12-08
**Summary:**
Chainalysis research reveals a significant shift in cryptocurrency scams in China, with 43% of fraudulent inflows in 2024 going to newly created wallets—the highest on record—while individual scam lifespans have dramatically decreased from 271 days in 2020 to just 42 days in 2024. Scammers are pivoting from large-scale Ponzi schemes to targeted romance scams (pig butchering scams), which have grown 85 times since 2020 and cause the worst financial impact per victim; one fraud shop alone received $10.5 million from romance scammers between 2022-2024.
7news.com.au
· 2025-12-08
Romance scammers cost Australians over $40 million in 2023, with South Australia accounting for $2.1 million in losses, according to police warnings during Scams Awareness Week. A case study involved Karen from Adelaide, who lost $50,000 to a fraudster who posed as an overseas boyfriend, built trust over weeks online, and requested money for education before disappearing when they were supposed to meet in person. Scammers typically target people over 55 through dating websites and social media by creating fake profiles, building emotional connections, and requesting money for various emergencies or investments; victims can protect themselves by never sending money to people they haven't met, verifying ident
timesofindia.indiatimes.com
· 2025-12-08
On August 22, a Mumbai resident was defrauded of approximately Rs 73,000 on a dating app date when presented with an inflated bill, one of several similar incidents occurring across major Indian cities involving fake profiles, overpriced charges, and intimidation tactics. These organized dating scams also extend beyond restaurant bills to cryptocurrency fraud, with victims losing substantial sums after being lured by scammers posing as romantic interests who later pressure them for investments or money through fabricated emergencies. To protect themselves, users should verify profiles before meeting, avoid financial dealings with new acquaintances, meet in public locations, and preserve all communications as evidence.
cryptotvplus.com
· 2025-12-08
Cryptocurrency scammers are increasingly using "pig butchering" schemes, where fraudsters build trust with victims through dating apps and social media before directing them to fake investment platforms with false promises of high crypto returns, eventually stealing their deposits. A major scam hub in KK Park, Myanmar—operating as a human trafficking center confining over 2,000 individuals—has funneled over $100 million in scam proceeds in 2024 alone, with nearly 43% of this year's scam funds flowing to newly created cryptocurrency wallets, while perpetrators purchase fake social media profiles to enhance their deceptive tactics.
odt.co.nz
· 2025-12-08
Scammers in New Zealand are employing increasingly sophisticated tactics to defraud residents, with a BNZ survey finding that 9 out of 10 New Zealanders were targeted by scams in 2023 (a 13% increase year-over-year), and research showing 62% encountered scams monthly. While scams affect people of all ages, older adults are particularly vulnerable to certain types like romance scams due to larger financial assets, with identity theft, shopping, and investment scams being the most common and emotionally damaging. Banks, police, and Netsafe recommend avoiding urgency-driven requests, verifying communications directly with companies, using
ktvz.com
· 2025-12-08
This educational article identifies 10 common scams targeting seniors, who lose approximately $3 billion annually to fraud. The scams include romance scams, funeral fraud, grandparent impersonation schemes, phishing emails, Medicare fraud, fake tech support, and others that exploit seniors' trust, limited digital literacy, and valuable assets like homes and savings. The article provides protective advice such as setting social media accounts to private, verifying caller identities through stored contact numbers, and being skeptical of unsolicited requests for money or personal information.
timesheraldonline.com
· 2025-12-08
California's State Senate approved SB 278, legislation that clarifies banks and financial institutions' legal duty to protect elders and dependent adults from financial abuse by holding them accountable when they should have known fraud was occurring but failed to act. The bill aims to incentivize financial institutions to implement fraud prevention safeguards upfront and support victims in suing institutions that negligently assisted in scams, addressing the rising tide of elder financial abuse cases in the state.
goldrushcam.com
· 2025-12-08
The San Luis Obispo County Sheriff's Office presented senior fraud awareness training to the Retired Active Men (RAMs) group on August 31, 2024, providing guidance on protecting against scams targeting seniors. Key protective strategies include trusting your instincts, avoiding pressure to make quick decisions, and verifying the identity of anyone contacting you before sharing information or money.
midfloridanewspapers.com
· 2025-12-08
A reader reported a prevalent scam involving fake prize/giveaway emails offering items from reputable retailers, requiring only a $5.95 shipping fee payable exclusively by Mastercard; after payment, victims receive no item but subsequently see multiple unauthorized charges on their card that banks refuse to dispute, claiming the transactions were authorized. The article confirms this scam is widespread (multiple neighbors reported identical experiences) and highlights related sophisticated scams targeting both individuals and businesses through spoofed emails, noting that Florida ranks third nationally in cybertheft complaints and victims have low chances of recovery despite reporting to law enforcement and the FBI's Internet Crime Complaint Center.
thesenior.com.au
· 2025-12-08
A 68-year-old man named Philip Waller nearly lost $10,000 to a tech support scam after receiving a fraudulent message claiming to be from Microsoft about a hacked computer. The scammer obtained remote access to his device, then impersonated a NAB bank employee and convinced Waller to authorize a $10,000 withdrawal by claiming they needed his help catching bank fraud. The bank's fraud detection systems caught the suspicious transaction and blocked it before the money was lost, ultimately protecting Waller from the scam.
tampafp.com
· 2025-12-08
Sarasota County, Florida is experiencing a rising trend of sophisticated scams targeting senior citizens, with the FBI and Sheriff's Office reporting losses exceeding $300,000. Criminals pose as tech support or government officials to convince seniors to convert assets into cash or precious metals, which couriers then collect, leaving victims with nothing. Law enforcement recommends seniors hang up immediately on suspicious calls, avoid clicking suspicious links, and report activity to local authorities or the FBI.
sunlive.co.nz
· 2025-12-08
Police are warning the public about a phishing email scam impersonating law enforcement agencies, which claims to have found illegal material on the recipient's computer and threatens arrest within 72 hours unless they respond. Some variants of the scam attempt to extort money by issuing fake "fines" when recipients respond. Police emphasize they will never contact citizens unsolicited requesting passwords, credit card, or bank details, and urge people not to reply to such emails and instead report them to authorities.
spotonflorida.com
· 2025-12-08
This is an educational awareness piece that alerts seniors to multiple scam types targeting their savings. While the article title indicates it covers 10 specific scams, the provided excerpt does not include the detailed descriptions of those scams. The article emphasizes the importance of vigilance against fraud schemes designed to exploit older adults' finances.
dailyhodl.com
· 2025-12-08
An Ohio woman lost $6,000 after a scammer impersonating a Huntington Bank employee convinced her to withdraw cash and deposit it into a scammer's Chase bank account via an ATM using Apple Wallet. Despite reporting the fraud, JPMorgan Chase denied responsibility, claiming the victim was liable for the loss. The incident is part of a broader Consumer Financial Protection Bureau investigation into whether major banks adequately vet customers and terminate fraudulent accounts.