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newsbreak.com
· 2025-12-07
Eight individuals were sentenced to federal prison for operating an international "phantom hacker" scam that defrauded victims across Ohio, Michigan, Illinois, and Indiana of tens of millions of dollars between May and November 2023. The conspirators posed as company officials and law enforcement agents to convince victims their financial accounts were compromised, then persuaded them to withdraw cash or gold bars for alleged safekeeping, which was then distributed among the scammers. The defendants were ordered to pay nearly $4 million in restitution, with sentences ranging from 24 to 72 months in prison.
businessworld.in
· 2025-12-07
Cybercrimes against India's elderly surged 86% between 2020 and 2022, with criminals exploiting vulnerabilities including loneliness, cognitive decline, and digital illiteracy through impersonation scams, investment fraud, romance scams, and technical deception. Notable cases include a retired colonel losing Rs 3.4 crore after fraudsters impersonated law enforcement and a 75-year-old losing Rs 13 crore through a WhatsApp investment scam, with digital payment fraud projected to exceed Rs 1.2 lakh crore by 2025. Experts emphasize that protection requires a blend of technological safeguards (AI
philstarlife.com
· 2025-12-07
An elderly woman in Hokkaido, Japan was defrauded of approximately 1 million yen (about $382,764) in a romance scam after meeting a person claiming to be an astronaut on social media who convinced her he needed money for oxygen while stranded in space. The woman developed romantic feelings during their online exchanges, making her vulnerable to the scammer's fabricated crisis. Police warn that Japan's aging population is frequently targeted by various organized fraud schemes and recommend being suspicious of any social media contacts requesting cash payments.
denver7.com
· 2025-12-07
Americans lost $4.9 billion to fraud in 2024, a 43% increase from the previous year, with older adults filing 142,000 internet crime complaints—more than any other age group. AARP's Senior Planet in Denver offers free digital literacy classes that teach older adults cybersecurity skills including password management and online safety practices to combat fraud and build confidence using technology. Participants report gaining independence and empowerment, moving from fear and intimidation to actively protecting themselves online.
nzherald.co.nz
· 2025-12-07
An elderly couple in New Zealand lost tens of thousands of dollars after being contacted by phone and tricked into providing their PIN and placing their bank card in their mailbox for collection. Law enforcement and online safety experts described the scam as increasingly sophisticated, noting that scammers use psychological manipulation tactics and that anyone—not just older adults—can fall victim, though only about 17% of scam victims successfully recover their money. The incident highlighted the importance of technology education and warned against allowing family members to assist with online banking, as they may access sensitive information.
securityboulevard.com
· 2025-12-07
The "Phantom Hacker" scam, which has stolen over $1 billion in the past year, uses a three-phase impersonation scheme targeting seniors and others by posing as tech support, financial institution, and government representatives to trick victims into transferring funds to fraudulent "safe" accounts via wire transfer, cryptocurrency, or cash. The scam's effectiveness lies in its elaborate layering of trusted personas, remote computer access, and official-looking communications that convince victims to move money while remaining silent about the transactions. Experts warn that artificial intelligence will make such scams increasingly convincing and scalable, requiring stronger security controls at the vendor and service provider level to protect vulnerable populations.
investopedia.com
· 2025-12-07
This educational article warns seniors about Medicare scams that surge during fall open enrollment periods. Scammers impersonate Medicare or medical providers via phone calls to trick beneficiaries into revealing Social Security numbers, Medicare card numbers, and other personal information—which criminals use to submit fraudulent claims worth tens of thousands of dollars. The article advises that Medicare will never call unsolicited, recommends hanging up on suspicious callers, and directs victims to call 1-800-MEDICARE for assistance.
aol.com
· 2025-12-07
Idaho's Attorney General warned of a surge in cryptocurrency ATM scams targeting seniors, with reported losses jumping from $19 million in 2023 to over $35 million in 2024. Scammers use fake tech support calls and government imposter schemes to trick victims into depositing cash at cryptocurrency ATMs located in gas stations and convenience stores, where transactions are untraceable and recovery is nearly impossible. One alert convenience store employee prevented two seniors from losing over $30,000 in a single week by unplugging the machine and calling police.
the420.in
· 2025-12-07
In February 2024, 16-year-old Tejasvi Manoj from Texas was inspired to act after her 85-year-old grandfather nearly fell victim to a $2,000 impersonation scam. She launched Shield Seniors, a web platform with AI-powered tools that help seniors recognize, analyze, and report online scams through educational resources, a chatbot, email/text analysis (95% accuracy), and direct reporting options. The initiative addresses a critical need, as seniors lost nearly $5 billion to online scams in 2024—a 32% increase from the previous year.
malwarebytes.com
· 2025-12-07
An elderly woman from Hokkaido, Japan lost approximately 1 million yen (US$6,700) in a romance scam after a fraudster posing as a distressed astronaut contacted her on social media in July, gradually building trust before requesting money for "life-saving oxygen" through convenience store transfers. Police in Sapporo classified the case as a romance scam and warned residents of similar schemes. The article provides guidance on protecting oneself from romance scams, including avoiding money transfers to strangers, verifying profile pictures, recognizing red flags like platform-switching requests, and consulting trusted individuals before sharing personal information or funds.
wdbj7.com
· 2025-12-07
A 70-year-old Virginia man lost thousands of dollars in a year-long romance scam in which he believed he was communicating with Canadian actress Amber Marshall on Facebook and messaging app Zangi, ultimately losing money meant for rent. According to Virginia Tech elder mistreatment expert Pam Teaster, seniors are disproportionately targeted by romance scams that exploit loneliness; the FBI reported 17,910 romance scam complaints in 2024 resulting in over $672 million in total losses. The victim is sharing his story to educate others, emphasizing that combating these scams requires both education and addressing societal loneliness among elderly individuals.
the-sun.com
· 2025-12-07
A 95-year-old North Carolina woman lost $18,000 to a door-to-door driveway repair scam in May, where a man falsely claimed to represent the city government and promised subsidized repairs; the work cracked immediately after completion. Brian Alexander Taulton, 57, was arrested in September after defrauding multiple elderly victims of over $100,000 combined through similar home repair schemes across multiple states, and is facing 22 felony charges including exploiting disabled/elderly persons and obtaining property by false pretense.
wislawjournal.com
· 2025-12-07
Ankurkumar Patel, a Brookfield man, was indicted on money laundering charges for his role in a "phantom hacker scheme" that defrauded elderly victims across multiple states by posing as customer service and law enforcement agents to trick victims into transferring funds. Patel allegedly personally retrieved over $1 million from victims and conspired to launder the money through anonymous transactions, with one victim from Sheboygan identified in the case. He faces up to 20 years imprisonment and fines up to $500,000 if convicted on the money laundering conspiracy charge.
justice.gov
· 2025-12-07
Eight members of a transnational money laundering conspiracy, seven Indian nationals and one Ohio resident, were sentenced to prison terms ranging from 2 to 6 years for laundering proceeds from "phantom hacker" fraud schemes that victimized residents across Ohio, Michigan, Illinois, and Indiana between May and November 2023. The scam involved fraudsters falsely claiming victims' accounts were compromised, then impersonating law enforcement to pressure victims into transferring their life savings under the guise of account protection. The eight defendants were ordered to pay nearly $4 million in restitution to victims who lost their life savings.
timesofindia.indiatimes.com
· 2025-12-07
In February 2024, 16-year-old Tejasvi Manoj from Frisco, Texas, was inspired to create Shield Seniors—a comprehensive cybersecurity platform—after her 85-year-old grandfather nearly fell victim to an email scam requesting $2,000 from a fake relative. According to FBI data, seniors face escalating threats, with fraud targeting individuals over 60 reaching $5 billion in losses in 2024, a 32% increase year-over-year. Shield Seniors offers educational resources, an AI-powered scam analyzer with 95% accuracy, a chatbot for cybersecurity questions, and reporting tools to help older adults
cubaheadlines.com
· 2025-12-07
Ana María Núñez, a 68-year-old woman with at least 16 prior fraud convictions, is on trial for defrauding a 78-year-old terminally ill woman in Doral of over $430,000 by posing as her daughter and obtaining power of attorney to transfer the victim's home and savings. Núñez and her son allegedly exploited the victim as her health declined from cancer; she faces multiple additional pending charges for other scams dating back to at least 1996, including a $105,000 investment fraud and another elderly victim scheme yielding $437,107. Authorities suspect the actual number of victims exceeds those documente
gmtoday.com
· 2025-12-07
Federal authorities indicted Brookfield resident Ankurkumar Patel, 41, for participating in "phantom hacker scams" that defrauded elderly victims across multiple states of over $1 million. Patel allegedly served as a money launderer in the scheme, physically collecting gold bars and cash from victims who were tricked by scammers posing as government agents and company representatives claiming their identities had been compromised. Specific victims included a Vietnam veteran in Illinois who lost over $1 million in gold bars and a Sheboygan elderly woman who lost $27,500, with additional fraud occurring in Minnesota and Missouri.
bhaskarenglish.in
· 2025-12-07
A 69-year-old Mumbai senior citizen was defrauded of ₹65,000 by a scammer impersonating actor Keanu Reeves on social media platforms including Instagram, Telegram, and WhatsApp. The fraudster built trust by claiming to need Indian currency for flight tickets, convincing the victim to transfer money to a Dehradun account. The scam was discovered by the victim's daughter living in London when she noticed the unauthorized bank transaction, leading to a cybercrime FIR filed by Versova police on September 8.
ag.ny.gov
· 2025-12-07
New York Attorney General Letitia James warned of the "Phantom Hacker" scam, a three-phase coordinated fraud targeting seniors that has stolen over $1 billion since 2024 by impersonating banks and government agencies to gain remote computer access and convince victims to transfer retirement savings via wire, cash, or cryptocurrency. The scam begins with a fake security alert prompting victims to download malware, followed by impersonators claiming to be from the victim's bank and a government agency, creating a false sense of legitimacy to steal funds. The AG advises New Yorkers to avoid clicking unsolicited links, calling provided numbers, granting remote computer access, or transferring
wdbj7.com
· 2025-12-07
Experts from AARP, the Roanoke City Sheriff's Office, and the Better Business Bureau discuss how to identify and protect against increasingly sophisticated scams, particularly those targeting seniors. They identify three common elements of scams—unexpected contact, emotional triggers, and urgency—and recommend pausing to reflect before responding, along with reporting suspected fraud without shame. Resources available include AARP's Fraud Watch Network (1-877-908-3360) and the Roanoke City TRIAD program, which offers community education and crime prevention services for seniors through monthly meetings and law enforcement collaboration.
upworthy.com
· 2025-12-07
A Canadian bank teller prevented a senior citizen from losing $9,000 in a cryptocurrency investment scam. The elderly customer had clicked on a Facebook advertisement months earlier, deposited a few hundred dollars, and was now being told he needed to pay $9,000 upfront to access supposedly generated earnings of $90,000 USD—a classic advance-fee cryptocurrency fraud. The alert teller recognized the scam, showed the customer evidence from Reddit's scam community, and successfully convinced him not to proceed, limiting his actual loss to the initial small deposits.
foxnews.com
· 2025-12-07
This educational article explains why credit monitoring remains important for retirees and provides protective strategies against identity theft. Seniors lost $4.9 billion to scams in 2024, with scammers targeting retirees who neglect credit monitoring, as stolen identities can be used for loans, credit cards, or insurance applications. The article recommends four steps: monitor credit reports monthly (free weekly reports now available), place a fraud alert if suspicious activity occurs, freeze credit with all three bureaus for maximum protection, and secure personal data online.
timesofindia.indiatimes.com
· 2025-12-07
Seventeen-year-old Tejasvi Manoj, honored as TIME's 2025 Kid of the Year, founded Shield Seniors, an AI-based platform protecting older adults from online scams and fraud. Motivated by her grandfather's near-experience with a phishing scam and research showing seniors lost over $3 billion to cyber fraud in 2024, Tejasvi created a user-friendly tool with features for learning cybersecurity, analyzing suspicious messages, and reporting fraud. Through her platform, TEDx talks, and community workshops, she is addressing a critical vulnerability in seniors' digital literacy.
law360.com
· 2025-12-07
I don't have access to the full article content—only the header and subscription information are visible. To provide an accurate summary for the Elderus database, I would need the complete article text describing the specific allegations against the crypto ATM operator, details about which seniors were affected, the amounts involved, and the outcome of DC's case. Could you please share the full article?
justice.gov
· 2025-12-07
A 28-year-old Port Arthur woman was sentenced to 10 years in federal prison for wire fraud involving the theft of $1.4 million from an elderly victim's retirement accounts. Over approximately one year, Joanne Schiwart impersonated the victim by phone to fraudulently access the accounts, using stolen personally identifying information to deceive the investment company, and spent the funds on vehicles for herself and others. The court ordered her to pay $1,464,761.47 in restitution.
abc.net.au
· 2025-12-07
A 55-year-old Central Queensland woman was charged with two counts of fraud for allegedly defrauding two elderly victims in their 80s of nearly $1 million between January 2020 and September 2025. The woman, who was known to but unrelated to the victims, fraudulently accessed their bank accounts for personal benefit until family members discovered irregularities and reported the matter to police in June 2025; one victim has since died. Police emphasize vigilance against offenders who gain trust through seemingly innocent relationships and encourage families to monitor elderly relatives' finances and seek support from legitimate financial advisers and elder abuse services.
aol.com
· 2025-12-07
Americans lost $12.5 billion to scams in 2024, with adults over 60 being frequent targets due to their savings, limited digital experience, and trust in official-sounding communications. The article provides 10 protective strategies for seniors, including not answering unknown numbers, rejecting unsolicited calls from government agencies, never sharing personal information over the phone, resisting pressure tactics and unusual payment requests (gift cards, wire transfers, cryptocurrency), verifying impersonators through independent sources, consulting trusted contacts before responding to suspicious requests, and enabling two-factor authentication on accounts.
cslea.com
· 2025-12-07
On September 9, 2025, California Attorney General Rob Bonta announced felony charges against Maria Erolina Delgado, owner of J & M Happy Guest Home in San Diego County, for severe neglect of elderly residents. Delgado allegedly maintained dangerously low staffing levels, leaving residents in soiled diapers for extended periods, resulting in bed sores, dehydration, and malnourishment among multiple residents. The case was investigated by the California Department of Justice's Division of Medi-Cal Fraud and Elder Abuse.
mypolice.qld.gov.au
· 2025-12-07
A 55-year-old woman from Tungamull, Queensland was charged with defrauding two elderly victims of approximately $1 million between January 2020 and September 2025 by fraudulently accessing and using their bank accounts without authorization. Family members discovered the irregularities in June 2025, prompting police involvement, and the woman is scheduled to appear in court on October 7. Authorities emphasized the need for families to monitor elderly relatives' finances and access legitimate financial advice to prevent similar exploitation.
justice.gov
· 2025-12-07
A 68-year-old Blairsville, Pennsylvania man pleaded guilty to Supplemental Security Income (SSI) fraud and theft of government property after fraudulently obtaining over $34,000 in benefits between January 2020 and June 2025 by failing to report income from nine different employers. Foster concealed his employment and wages from the Social Security Administration, making him ineligible for the needs-based SSI benefits designed for disabled and elderly individuals with little or no income. He faces sentencing on January 21, 2026, with a potential maximum penalty of 10 years imprisonment and a $250,000 fine.
dailyrecord.com
· 2025-12-07
Scammers are spoofing caller ID to appear as Mount Olive Police Department, with callers impersonating Police Chief Michael Spitzer and requesting banking and personal information from residents. Police warn that legitimate officers never request personal information over the phone and advise residents to hang up immediately and verify any questionable calls by contacting the department directly at their official number.
forbes.com
· 2025-12-07
In February 2024, former U.S. Ambassador Cindy Dyer testified to the Senate about the connection between human trafficking abroad and romance scams targeting older Americans, noting that scam centers in Southeast Asia—particularly Cambodia—force trafficking victims to defraud Americans out of millions of dollars and life savings. The FTC estimated that Americans lost $158 billion to all fraud in 2023, with older Americans reporting $277 million in romance scam losses that year, though actual figures are likely much higher due to underreporting. Experts stress that international cooperation is essential to combat these overseas-based scams, but such efforts have been hindered by reduced foreign aid and weakened international all
komando.com
· 2025-12-07
A Florida grandmother lost $60,000 in a romance scam after being deceived by fraudsters posing as a retired Army general online. One suspect allegedly pocketed $30,000 of the stolen funds to purchase a Hyundai Kona, and the victim later confronted him in person, though he claimed to be "scamming the scammer."
jsonline.com
· 2025-12-07
Ankurkumar Patel, a 41-year-old Brookfield man, was indicted for operating a "Phantom Hacker Scam" that defrauded elderly victims across multiple states of over $1 million. The scheme involved fraudsters posing as customer service agents or law enforcement officers who convinced victims their accounts were compromised, then directed them to transfer cash or gold to supposedly safe accounts before the funds were laundered through co-conspirators. Patel faces up to 20 years in prison and substantial fines if convicted of money laundering conspiracy and substantive money laundering charges.
yahoo.com
· 2025-12-07
An 85-year-old grandmother nearly fell victim to an imposter scam when scammers posing as her bank claimed she owed $50,000 in fraudulent charges, then connected her with someone impersonating an FTC official who pressured her to purchase prepaid debit cards for payment. According to the FTC, fraud losses for seniors have surged dramatically, with losses of $10,000 or more quadrupling between 2020 and 2024, as scammers exploit fear and use untraceable payment methods like gift cards, cryptocurrency, and prepaid cards. Key protective measures include recognizing red flags such as unexpected contact from institutions, requests for unusual payment
states.aarp.org
· 2025-12-07
Americans lost $12.5 billion to fraud in 2024, a 25% increase from the previous year, with older adults facing particular vulnerability. North Carolina's "Fraud Free Fridays" program offers free monthly educational sessions (broadcast live on Facebook and YouTube) covering emerging scams including cryptocurrency, AI fraud, and holiday schemes, while AARP's Fraud Watch Network provides resources, alerts, and guidance to help people recognize and report fraud in their communities.
cheapism.com
· 2025-12-07
In 2024, Americans lost $12.5 billion to scams, with adults over 60 being frequent targets due to their savings, limited digital experience, and trust in official-sounding messages. Modern scammers employ sophisticated tactics like AI voice cloning and deepfake videos to impersonate loved ones and government agencies. The article provides ten practical tips for seniors to avoid scams, including not answering unknown numbers, never sharing personal information over the phone, recognizing pressure tactics, avoiding unusual payment methods, verifying identities through trusted sources, and enabling two-factor authentication on accounts.
washingtoninformer.com
· 2025-12-07
**Scam Type:** Cryptocurrency fraud facilitated by Bitcoin ATMs
**Summary:** On September 8, D.C. Attorney General Brian L. Schwalb filed suit against Athena Bitcoin, Inc., operator of seven Bitcoin ATMs in the District, for knowingly facilitating international fraud schemes targeting elderly residents. An OAG investigation found that 93% of deposits at Athena machines during the company's first five months of operation resulted from scams, with victims having a median age of 71 and median losses of $8,000 per transaction; the company allegedly concealed fees up to 26% (compared to typical 0.24-3%
wrif.com
· 2025-12-07
Oakland County (Southeast Michigan) experienced a surge in scams targeting bank customers, renters, and seniors, according to AARP Scam Tracker data. Scammers used multiple tactics including fake bank calls claiming account breaches, fraudulent rental listings with stolen photos, impersonation of medical device sellers targeting seniors for credit card information, fake utility workers, and phishing emails promoting bogus antivirus software. Authorities recommend verifying information through official sources, never sharing personal details with unsolicited callers, and contacting Michigan's Attorney General (877-765-8388) or AARP's Fraud Watch (877-908-3360) for assistance.
starlocalmedia.com
· 2025-12-07
Tejasvi Manoj, a 16-year-old from Frisco, was named TIME's 2025 Kid of the Year for creating Shield Seniors, a website and mobile app designed to educate seniors about online scams and fraud. After her grandfather was targeted by cybercriminals in February 2024, Manoj researched the prevalence of scams targeting older Americans and developed the platform to help users identify suspicious emails and messages, with links to report fraudulent communications.
devdiscourse.com
· 2025-12-07
Tejasvi Manoj, a 17-year-old Indian-American from Texas, was named TIME's Kid of the Year 2025 for her "Shield Seniors" project, which educates elderly individuals about online scams and digital fraud threats. The initiative includes a website that analyzes fraudulent communications, provides cyber literacy resources, and offers reporting links to help seniors protect themselves from cyber scams. Manoj's work addresses the growing vulnerability of seniors to digital fraud while she continues other community service efforts.
oag.ca.gov
· 2025-12-07
Maria Erolina Delgado, owner of J & M Happy Guest Home in San Diego County, was arrested and charged with multiple counts of felony elder abuse for severely neglecting elderly residents by leaving the facility severely understaffed, resulting in residents being left in soiled diapers for extended periods and suffering from bed sores, dehydration, and malnourishment. The California Attorney General's Division of Medi-Cal Fraud and Elder Abuse filed the charges in San Diego Superior Court.
dlapiper.com
· 2025-12-07
The SEC has launched a Cross-Border Task Force to investigate fraud by foreign-based companies, particularly targeting market manipulation schemes like "ramp-and-dumps" involving Chinese companies and misconduct by gatekeepers such as auditors and underwriters who enable access to US capital markets. The task force aligns with DOJ enforcement priorities and signals increased scrutiny and liability exposure for auditors and underwriters involved with foreign issuers, especially those with opaque governance structures or VIE arrangements. The SEC is also directing other divisions to develop new disclosure rules and guidance to better protect US investors from transnational fraud schemes.
ew.com
· 2025-12-07
Netflix's docuseries "Love Con Revenge" features Cecilie Fjellhøy and private investigator Brianne Joseph exposing romance scams, with cases including Todd Dean (the "Selfie Scammer"), who defrauded at least eight women of tens of thousands of dollars for a fake wellness startup called Sanjara and was ordered to pay one victim $30,727.50 in court before filing for bankruptcy in December 2023, and Ricky Morrisey, who stole over $13,000 from victim Bridget Phillips while posing as a military veteran with a fabricated tragic backstory, resulting in fraud and larceny
thealabamabaptist.org
· 2025-12-07
Romance scams, increasingly prevalent on social media platforms like Facebook and Instagram, target vulnerable older adults—particularly widows and widowers—by creating fake identities to extract money and financial information. According to Advocating Against Romance Scammers (AARS), perpetrators use fabricated stories (such as being stranded overseas or in jail) to convince victims to send money, with one documented case involving a widow losing over $40,000. Scammers typically initiate contact on public platforms, move conversations to encrypted messaging apps to avoid law enforcement detection, and exploit emotional vulnerabilities and declining cognitive health in their victims.
presspubs.com
· 2025-12-07
Internet scams targeting seniors and vulnerable populations are increasing, employing tactics such as impersonating government agencies via phone/email, compromising contacts through hacked accounts, creating deepfake audio/video, and romance scams on social media. Protection strategies include verifying contacts through known numbers, avoiding links and downloads from unknown sources, and reporting suspected scams to the Federal Trade Commission at ReportFraud.ftc.gov or 1-877-FTC-HELP.
newsweek.com
· 2025-12-07
In 2024, the FBI recorded 147,127 scam reports involving Americans age 60 and over, resulting in nearly $5 billion in stolen funds. Arizona had the highest rate of fraud complaints among seniors (88.3 per 100,000 people age 60+), followed by Indiana and Nevada, with imposter scams and tech support scams being the most common types. Experts note that seniors should be alert to unsolicited contacts, unusual payment methods, and pressure to act urgently, as scam attempts and underreporting vary significantly by state.
wusa9.com
· 2025-12-07
I appreciate you providing the text, but this doesn't appear to be an article about scams, fraud, or elder abuse. The content provided is just a promotional message about downloading the WUSA9 news app for streaming purposes.
For Elderus summary purposes, I would need an article that actually discusses:
- A scam or fraud incident
- Elder abuse
- General fraud awareness/prevention advice
Could you please provide an article related to elder fraud or abuse that you'd like summarized?
americanbanker.com
· 2025-12-07
Illinois passed a new law in 2024 allowing credit unions to contact a client's "trusted contact" (typically a family member) when fraud is suspected, enabling faster intervention in time-sensitive scams that cost American seniors $4.9 billion that year. While this approach can effectively stop scams more quickly than traditional legal channels, experts caution that banks must carefully request trusted contact information to avoid offending customers and must be aware that scammers are sometimes family members themselves. Financial institutions are advised to frame the conversation around sophisticated scamming tactics rather than the customer's vulnerability, and to establish trusted contact lists before fraud occurs.
501lifemag.com
· 2025-12-07
The Arkansas Securities Department reports a substantial increase in financial fraud targeting elderly Arkansans, with older Americans nationwide reporting $4.885 billion in losses from 147,127 complaints in 2024, including 1,063 Arkansas victims who lost $27.25 million. Common schemes include social media scams, romance fraud, and "pig butchering" scams that build trust before encouraging cryptocurrency investments, with seniors being targeted due to accumulated savings, higher trust levels, and social isolation. The ASD advises elderly investors to avoid unsolicited investment opportunities claiming guaranteed returns, secrecy, or low risk with high returns, and encourages reporting suspected fraud to 800.981.4