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ftadviser.com
· 2025-12-08
UK banks have invested heavily in fraud prevention systems that successfully reduced traditional unauthorized account fraud, but criminals have adapted by shifting to authorised push payment (APP) fraud, where they use social engineering and deepfakes to convince victims to voluntarily transfer funds. Since 2020, Britons have lost over £2.6 billion to investment fraud alone, with APP scams occurring across eight types including investment scams, romance scams, impersonation, and CEO fraud, making detection extremely difficult for financial institutions since these appear as legitimate customer-authorized transactions.
chronicleonline.com
· 2025-12-08
Romance scams on dating apps have escalated into human trafficking schemes, exemplified by the case of 57-year-old Laura Kowal from Illinois, who was coerced into laundering money for a trafficker and was later found dead. The FBI warned in 2020 that dating apps are being exploited by sex traffickers to recruit victims, including minors, with an estimated 27.3 million people globally trafficked annually generating $150 billion in illegal income. Dating app companies like Match Group have resisted implementing basic safety measures such as background checks and age verification despite documented cases of traffickers using their platforms, prompting calls from lawmakers and advocacy groups for Congressional regulation.
yahoo.com
· 2025-12-08
This is a BuzzFeed Community call for submissions from people who have experienced various types of scams, including Facebook ticket fraud, romance scams, sextortion, and impersonation schemes where scammers pose as friends or use fake identities to extract money or personal information. The article aims to collect real-life scam stories to raise awareness and help others avoid similar situations.
claytodayonline.com
· 2025-12-08
Romance scams are at an all-time high, with the FTC reporting that elders are increasingly targeted due to available retirement savings, isolation, and lower tech-savviness; in 2022 alone, these scams resulted in $1.3 billion in losses, more than double the previous year. Scammers create fake profiles on dating and social media apps, build emotional trust through manipulation and "love bombing," then request money via untraceable methods like cryptocurrency or gift cards, sometimes also extorting victims with intimate photos or fake investment schemes. Protection strategies include consulting trusted friends before sending money, requesting video chats, using reverse image searches, and reporting suspected fraud to the FTC and FBI.
click2houston.com
· 2025-12-08
This educational article provides guidance on safe online dating practices, identifying red flags (excessive eagerness to meet privately, financial requests, excessive monitoring) and green flags (consistent social profiles, willingness to video call) when evaluating potential matches. The piece highlights that dating scams are particularly prevalent among elderly users, who may be deceived into sending money to romance scammers posing as interested romantic partners, and recommends defensive dating strategies including independent transportation, location sharing with friends, and trusting one's instincts about safety.
justice.gov
· 2025-12-08
Federal law enforcement agencies completed the Money Mule Initiative, taking action against over 3,000 money mules who facilitate fraud schemes by transmitting stolen funds to international fraudsters. The operation resulted in approximately 2,970 warning letters to individuals (many unknowingly recruited through romance or lottery scams) and criminal charges against more than 20 individuals knowingly facilitating fraud. The initiative specifically targets schemes that harm vulnerable populations, including older Americans victimized by lottery fraud, romance scams, and grandparent scams.
shorenewsnetwork.com
· 2025-12-08
Federal law enforcement agencies completed the Money Mule Initiative, an annual campaign that resulted in criminal charges against over 20 individuals and warning letters to approximately 2,970 money mules involved in facilitating fraud schemes. The initiative targeted networks that transmit stolen funds from fraud victims to international fraudsters, with cases including two men accused of laundering $4.5 million from romance scams and business email compromises targeting elderly victims, and five defendants who acted as couriers collecting cash from grandparent scam victims. The agencies emphasized the importance of public education to prevent unknowing individuals from becoming money mules, as many are initially victimized by romance or lottery scams before being manipulated into ass
wecb.fm
· 2025-12-08
McKala, a woman from Kentucky, was victimized by a romance scam over one year in which a scammer posing as actor Dacre Montgomery convinced her to send approximately 10,000 euros in gift cards while claiming to be in a secret relationship with her. The scammer manipulated McKala emotionally by confessing unhappiness in his own relationship and professing love, eventually convincing her to leave her husband, though they never met in person or spoke by phone. After investigators from the YouTube channel Catfished exposed the deception—including fake checks and stolen photos—McKala shared her story publicly to warn others about the dangers of online romance scams.
atlantablackstar.com
· 2025-12-08
Peter Gray from West Yorkshire was sentenced to 56 months in prison after scamming four women he met on Tinder out of £80,000 by photographing their driver's licenses and bank cards without consent, then using their identities to take out loans in their names. The victims, whose loans ranged from £9,000 to over £20,000, reported that Gray's fraud prevented one woman from completing her home purchase and caused significant financial and emotional harm. The case highlights the dangers of romance scams, which according to the FTC result in $1.14 billion in annual losses globally with an average victim loss of $2,000.
justice.gov
· 2025-12-08
The U.S. Attorney's Office and Department of Justice announced completion of the Money Mule Initiative, a campaign that disrupted transnational fraud networks by taking action against over 3,000 money mules who facilitate scams targeting Americans, particularly elderly victims of lottery fraud, romance scams, and grandparent scams. More than 20 individuals were criminally charged, including cases involving $4.5 million laundered from romance scams targeting elderly victims, a grandparent scam operation using couriers to collect cash from seniors, and a tech support fraud scheme that collected approximately $7 million from elderly victims. The initiative combined criminal prosecutions, warning letters to unknowing participants,
africa.businessinsider.com
· 2025-12-08
Hong Kong authorities warned of a deepfake scam in which a group calling itself Quantum AI or AI Quantum used fabricated videos of Elon Musk to convince investors that he developed their AI-powered cryptocurrency trading service, which was actually a front for virtual asset fraud operated through three websites and two Facebook pages. This is part of a growing trend of scammers using deepfake technology to impersonate celebrities and high-profile figures; a South Korean woman previously lost $50,000 to a similar Musk deepfake scam in April. Hong Kong police shut down the group's online presence after the warning was issued.
ahwatukee.com
· 2025-12-08
The Better Business Bureau identified the top scams affecting Metro Phoenix residents in March: employment scams where fake employers send fraudulent checks (one victim lost $5,000), online shopping scams featuring artificially low prices and payment app requests (one person lost $1,770 attempting to buy designer bags), and romance scams involving cryptocurrency that have resulted in significant losses (one victim lost $20,000). The article provides warning signs for each scam type and recommends verifying information, using credit cards for online purchases, and consulting trusted contacts before sending money or making investments.
businessinsider.com
· 2025-12-08
Hong Kong authorities warned of a scam by groups calling themselves Quantum AI or AI Quantum, which used deepfake videos of Elon Musk to fraudulently promote a fake cryptocurrency trading service across three websites and two Facebook pages. The scammers leveraged AI-generated deepfake technology to convince victims that Musk had developed the service, even conducting video calls with manipulated facial features to impersonate him and enhance credibility. Hong Kong police shut down the operation, though this represents an ongoing trend of deepfake-based fraud; a South Korean woman previously lost $50,000 in a similar Musk deepfake scam in April.
au.lifestyle.yahoo.com
· 2025-12-08
AI technology is making romance scams increasingly common and harder to detect in online dating, with artificial intelligence enabling scammers to impersonate real people more convincingly through chatbots and deepfakes. Australians lost over $5.8 million to dating and romance scams in the first three months of 2024, with 27% of dating app users targeted and nearly 40% of those becoming victims. Experts advise vigilance for warning signs including avoidance of video calls, sparse profile images, and rapid relationship progression to protect against these AI-enhanced scams.
nypost.com
· 2025-12-08
A 92-year-old South Carolina woman combated relentless scam callers by responding to their pitches with absurd nonsense—including claims she would be "raptured" and requests for senior discounts—which repeatedly frustrated the scammers into hanging up. Her granddaughter documented these interactions in videos, showcasing how humor and distraction can be an effective defense against fraud attempts, though the article notes that elderly people remain particularly vulnerable to scams, with nearly 70,000 people losing $1.3 billion to romance scams alone in 2022.
manchesterjournal.com
· 2025-12-08
This educational piece explains how romance and relationship scams differ from other crimes and why victims often experience shame rather than sympathy. Scammers target lonely or grieving individuals through social media, slowly building trust over time before repeatedly requesting money for fabricated emergencies or personal crises—making these scams more psychologically damaging than single-incident crimes like robbery. The article advises early intervention by trusted third parties and provides resources including the AARP Consumer Hotline (877-908-3360) for victims seeking help.
kiowacountypress.net
· 2025-12-08
A California man was recently sentenced to four years in prison for orchestrating romance scams that defrauded two elderly Arizona women of hundreds of thousands of dollars. AARP Arizona warns that romance scammers exploit victims' desire for companionship by professing love early, requesting money for emergencies, and using increasingly sophisticated AI-generated photos and videos, with scams often escalating to fraudulent bank account access. AARP recommends never sending money to online contacts and offers free resources through their Fraud Watch Network (1-877-908-3360 or AARP.org/fraudwatchnetwork) to help people identify and report suspected scams.
cybersecuritynews.com
· 2025-12-08
AhnLab's Mobile Analysis Team uncovered sophisticated romance scams that manipulate victims into investing in cryptocurrency through fake exchanges like "CoinB," which fraudsters falsely associate with legitimate platforms like Coinbase. Scammers use social media to build trust with victims over time, then direct them to fake cryptocurrency apps designed to steal financial information and enable identity theft. The scams exploit language barriers and global reach through translation features in messaging apps, making prevention dependent on verifying exchange legitimacy, avoiding pressure to invest quickly, and maintaining skepticism of unsolicited investment opportunities.
publicnewsservice.org
· 2025-12-08
A California man was sentenced to four years in prison for orchestrating romance scams that defrauded two elderly Arizona women of hundreds of thousands of dollars. AARP Arizona warns that romance scammers exploit desires for companionship through dating apps and other platforms, with warning signs including premature declarations of love, requests for money, and broken promises to meet in person. Victims should avoid sending money to online contacts, be aware that advancing AI technology makes scams more convincing, and contact the AARP Fraud Watch Network (1-877-908-3360 or AARP.org/fraudwatchnetwork) for free assistance.
kbtx.com
· 2025-12-08
The FBI reported a 14% increase in elder fraud complaints in 2023, with seniors over 60 losing $3.4 billion across 101,000 reported cases, averaging $33,000 per victim. In Texas alone, over 7,000 seniors lost $278 million, with investment scams, government impersonation schemes, and romance scams showing the largest growth; investment scams averaged $270,000 per victim in Texas. The FBI advises seniors to avoid trusting unknown contacts, verify caller identities independently, and report fraud to enable broader conspiracy investigations.
chicagotribune.com
· 2025-12-08
In 2022, older adults reported losing over $1.6 billion to fraud, with the FTC estimating actual losses may reach $48 billion due to underreporting; investment scams, business impersonation, and tech support scams saw significant year-over-year increases, some exceeding 100%. U.S. Rep. Robin Kelly and colleagues introduced the bipartisan Protecting Seniors from Emergency Scams Act, which would require the FTC to create a searchable regional scam database with law enforcement contacts and work with media to distribute fraud information to seniors and caregivers. Senior advocates stress that increasing awareness and understanding sophisticated scam tactics is critical, as isolation and lon
justice.gov
· 2025-12-08
Seven California residents were federally indicted for operating a sophisticated fraud scheme targeting elderly victims nationwide through tech support scams, romance fraud, and imposter schemes, using fraudulent Taiwanese passports and fake immigration documents to open bank accounts that funneled over $7 million in victim cash through money mules. Three additional conspirators—Bowen Chen, Jiacheng Chen, and Vianne Chen—were added to the indictment on May 8, joining four others previously charged, with the largest deposits ($1.3 million, $615,000, and $440,000 respectively) traced to specific defendants. The case was part of a federal Money Mule Initiative that prosecut
patch.com
· 2025-12-08
The Narragansett Police Department is hosting a free public seminar on scam awareness and prevention, scheduled for Thursday at 2 p.m. at the Maury Loontjens Memorial Library. The seminar will cover common scam types including grandparent, tech support, and romance scams, along with local case studies, prevention tips, and reporting procedures for residents of all ages.
cbsnews.com
· 2025-12-08
Americans aged 60 and older lost $3.4 billion to scams in 2023, an 11% increase from 2022, with Florida ranking second nationally for complaints and reported losses. Florida seniors lost over $90 million to investment schemes, $51.5 million to tech support fraud, and over $40 million to romance scams, with the FBI urging victims to overcome shame and report crimes immediately.
honey.nine.com.au
· 2025-12-08
A cyber security expert warns that AI tools like ChatGPT and Midjourney are enabling increasingly sophisticated romance scams on dating apps—described as "catfishing on steroids"—by allowing scammers to create AI-generated or enhanced photos and personalized messages that are harder to detect. One in four Australian singles surveyed reported being targeted by dating scams, with Australians losing over $40 million to dating app and social media scams in the previous year, particularly affecting people over 55. The article provides detection tips including looking for unrealistic photo features, using reverse image searches, and testing text with AI-detection tools, while noting that dating apps employ varying safety measures such as identity
nbcmiami.com
· 2025-12-08
Florida ranked second nationally for elderly fraud losses in 2023, with seniors over 60 reporting over $180 million in losses across investment schemes ($90 million), tech support scams ($51.5 million), and romance scams ($40 million). Nationally, fraud losses to people over 60 exceeded $3.4 billion—an 11% increase from 2022—affecting at least 101,000 victims with an average loss of $33,915 per person, with some victims forced to sell homes, liquidate retirement accounts, or borrow from family to cover losses.
bbc.com
· 2025-12-08
Mark Acklom, a prolific conman dubbed "Britain's most notorious conman," defrauded Carolyn Woods of £850,000 over a year-long relationship beginning in 2012, convincing her he was an MI6 agent and successful businessman while extracting hundreds of thousands in loans for fake property renovations. After admitting to defrauding her of £300,000 in 2019 and serving nearly six years in prison, Acklom was extradited to Spain where he was released in 2023, leaving Ms. Woods with no recovered funds and court proceedings for money recovery delayed until at least December 2024. Ms. Woods,
bbc.co.uk
· 2025-12-08
Mark Acklom, dubbed "Britain's most notorious conman," defrauded Carolyn Woods of £850,000 over a 12-year period by posing as an MI6 agent and successful businessman, convincing her to loan him money for property renovations while promising marriage. Acklom admitted to defrauding Woods of £300,000 in 2019 and was extradited from Spain and jailed for nearly six years in the UK; however, Woods believes she will never recover her money as Proceeds of Crime Act hearings aimed at forcing repayment have been repeatedly delayed and are now scheduled for December 2024 at the
fox13news.com
· 2025-12-08
An 80-year-old Bradenton veteran was defrauded of $1.5 million in a multi-state gold bar scheme in which scammers impersonated federal agents, gained his trust over weeks, and manipulated his military patriotism to convince him to transfer his retirement funds. Swetaben Patel, 42, was arrested as an alleged "mule" in the operation, which involved multiple perpetrators across several states and coordinated drop-off locations. The Bradenton Police Department reports that elder fraud cases in their jurisdiction have increased 50% this year, with the FBI noting that Americans 60 and older lost over $3.4 billion to
wflanews.iheart.com
· 2025-12-08
The FBI issued a 2023 warning that Florida ranks second nationally for elder fraud losses, with fraudsters using AI voice-mimicking technology to impersonate relatives in tech support and impersonation scams. Florida's elderly residents lost over $90 million to investment schemes and $40 million to romance scams during this period.
yahoo.com
· 2025-12-08
Seven members of a nationwide elder fraud ring—including three California residents charged in May—were indicted on conspiracy charges for defrauding elderly people through tech support scams, fake immigration documents, and fraudulent bank accounts. The scheme collected over $7 million from victims, including an elderly Missouri couple who were threatened with prosecution unless they paid $88,000 after seeing a fake virus pop-up warning. The case was prosecuted by the U.S. Attorney's Office for the Eastern District of Missouri as part of the Department of Homeland Security's Money Mule Initiative targeting elder fraud networks.
wflaorlando.iheart.com
· 2025-12-08
Florida ranked second nationally for elder fraud losses in 2023, with elderly residents targeted through tech support scams, impersonation schemes using AI-generated voice mimicry, investment fraud ($90+ million), and romance scams ($40+ million), according to FBI findings shared by Special Agent Zacharia Baldwin. Fraudsters are increasingly using artificial intelligence technology to impersonate relatives, making victims believe they are communicating with loved ones.
cbs12.com
· 2025-12-08
The FBI's 2023 Elder Fraud Annual Report documented a significant surge in financial exploitation of Americans over 60, who reported losses exceeding $3.4 billion—an 11% increase from 2022. Tech support fraud was the most commonly reported scam type, while investment schemes caused the largest financial losses; Florida ranked second nationally with seniors losing over $90 million to investment scams, $51.5 million to tech support fraud, and $40 million to romance scams. The FBI emphasizes the importance of timely reporting despite victims' reluctance due to shame, and encourages affected individuals to contact local FBI offices or the Internet Crime Complaint Center.
caribbeannationalweekly.com
· 2025-12-08
In 2023, Americans aged 60 and older lost over $3.4 billion to financial scams—an 11% increase from 2022—with tech support fraud and investment scams being the most common schemes. Florida ranked second nationally in elder fraud complaints and losses, with seniors there losing over $90 million to investment schemes alone. The FBI emphasizes that victims should report suspected scams immediately despite feelings of shame, as prompt reporting helps authorities address these crimes.
kttn.com
· 2025-12-08
Seven California residents were federally indicted for operating a conspiracy that defrauded elderly Americans nationwide using fraudulent Taiwanese passports, fake bank accounts, and money mules to collect victim funds through tech support scams, romance fraud, and imposter schemes. The scheme generated over $7 million in fraudulent deposits, with individual defendants depositing between $440,000 and $1.3 million into criminal accounts. The case was part of the Money Mule Initiative, which resulted in action against over 3,000 money mule networks in the year of prosecution.
stthomastoday.ca
· 2025-12-08
A Malahide resident lost over $2 million in an online romance scam that unfolded over four years starting in 2020, after meeting someone on a dating platform who eventually claimed to need financial assistance for taxes related to an out-of-country inheritance. The victim transferred funds through prepaid gift cards and wire transfers without ever meeting the scammer in person, and Elgin OPP continues investigating the case. The police emphasize protecting personal information, avoiding requests from unknown contacts, and never sending money to people you haven't met as key prevention strategies.
wmdt.com
· 2025-12-08
In 2022, Maryland residents age 60 and older lost $63.6 million to fraud, with online scams being the most common method. Common schemes targeting older adults include grandparent scams (requesting emergency money), romance and investment scams, and impersonation of law enforcement, often facilitated through information gathered on social media. Red flags to watch for include unexpected emails or calls with misspellings, suspicious URLs, and unsolicited requests for money or personal information; protective measures include enabling multi-factor authentication on accounts, verifying caller identity through official channels, and reporting suspected fraud to local law enforcement or the Federal Trade Commission.
miaminewtimes.com
· 2025-12-08
In 2023, romance scams resulted in over 64,000 reports and $1.1 billion in losses, predominantly affecting elderly victims who were deceived by scammers posing as romantic partners on dating apps and social media. Cristine Petitfrere, a 30-year-old from Florida, was arrested and sentenced to 30 months in prison for laundering nearly $3 million from romance scams by funneling money to Ghana; she personally facilitated transfers from three elderly victims in their 60s-70s who lost over $158,000 combined. Federal law enforcement has intensified prosecution efforts against romance scam networks, with romance fraud losses increasing
hanfordsentinel.com
· 2025-12-08
CBS News's "Anything for Love" series documented romance scams on dating apps that facilitate human trafficking, including the case of 57-year-old Laura Kowal from Illinois, who was coerced into financial fraud by a trafficker and was later found dead. The FBI warned in March 2020 that dating apps are being exploited by sex traffickers to target vulnerable people, including children, with an estimated 27.3 million people globally trafficked annually generating $150 billion in profits, and dating app companies have resisted implementing basic safety measures such as background checks and age verification despite multiple convictions of traffickers using their platforms. The author calls for Congress to enact regulations requiring dating
newlinesmag.com
· 2025-12-08
A 36-year-old Indian woman named Jhumpa Biswas was targeted by a romance scammer posing as "Mark Anthony," a Scottish cosmetic surgeon who initiated contact via Instagram with flattering messages. Over weeks of increasingly intimate communication across social media and WhatsApp, the scammer built emotional trust through romantic gestures, personal attention, and carefully crafted backstory, exploiting Biswas's limited romantic experience and emotional vulnerability. The article details how the scammer's grooming tactics—including flattery, validation, and demonstrations of care—set the stage for financial exploitation that would follow.
delawarelive.com
· 2025-12-08
Delaware's elderly population lost over $14 million to fraud in 2022, with 305 victims aged 60 and over suffering average losses of $45,977 each, according to FBI data analyzed by cybersecurity experts. The state recorded 106.6 fraud victims per 100,000 elderly residents, with investment scams, business impostor schemes, and romance scams being the most costly types nationally, while those aged 60 and over were 517% more likely to fall victim to tech support scams than younger adults.
finance.yahoo.com
· 2025-12-08
Massachusetts residents over age 60 lost more than $70 million to fraud in 2022, with 1,653 victims averaging $42,408 in losses per person, according to an analysis of FBI and FTC data by VPNPro. Seniors aged 60 and older were 517 percent more likely to fall victim to online tech support scams than younger adults, with investment scams, business imposter scams, and romance scams being the most prevalent types. Experts recommend that families discuss fraud prevention with elderly relatives, including warning signs such as requests for unusual payment methods, pressure to act quickly, and unsolicited offers.
boston25news.com
· 2025-12-08
Massachusetts residents over age 60 lost more than $70 million to fraud in 2022, with 1,653 victims averaging $42,408 in losses each, according to VPNPro's analysis of FBI and FTC data. Seniors in the state were 517 percent more likely to fall victim to online tech support scams than younger adults, with investment scams, business imposter scams, and romance scams being the most prevalent types. Experts recommend that adult children have conversations with elderly parents about fraud red flags and caution them against providing personal or financial information over the phone or through unusual payment methods.
bbc.co.uk
· 2025-12-08
This is a documentary series titled "Scams & Scandals" that covers various UK frauds, scams, and scandals across multiple episodes. Episodes feature investigations into diverse crimes including a £50 million benefit fraud scheme, £5 million golden toilet theft, government loan fraud involving millions of pounds, fake medical procedures, ticket fraud, cyberattacks, and online exploitation cases. The series follows victims attempting to recover money and authorities uncovering the truth behind these schemes.
highlandcountypress.com
· 2025-12-08
In 2023, Ohio residents lost over $150 million to financial scams, with those age 60 and older accounting for $3.4 billion in losses nationally according to the FBI's Internet Crime Complaint Center. The Ohio Department of Commerce's Division of Securities highlights rising threats including romance scams, cryptocurrency schemes, and precious metals fraud, advising consumers to investigate investment opportunities thoroughly, verify credentials through third-party sources, and report suspected fraud to local law enforcement and the SEC.
money.com
· 2025-12-08
Young job seekers, particularly students seeking remote work, are being targeted in "money mule" scams where fraudsters trick them into transferring stolen money through their bank accounts, digital wallets, or cryptocurrency accounts. These scams often originate from lottery fraud, romance scams, and grandparent scams, and unwitting participants can face identity theft and potential criminal charges for money laundering. The Justice Department took action against over 3,000 money mules in the past year, with criminal charges brought against more than 20 serious offenders, including a case involving three people charged for recruiting college students to launder approximately $7 million from elderly tech fraud victims over three years.
states.aarp.org
· 2025-12-08
AARP Illinois is hosting a monthly virtual fraud prevention series featuring expert speakers including the Better Business Bureau, with the first session on May 28 addressing general fraud protection strategies and upcoming sessions covering specific scam types such as travel fraud, mail fraud, internet fraud, romance scams, healthcare scams, and holiday scams. The program aims to educate participants on recognizing and avoiding common fraud schemes to protect their personal information and financial security.
unodc.org
· 2025-12-08
**Summary:**
In May 2024, the United Nations Office on Drugs and Crime (UNODC) established an Emergency Response Network (ERN) across Southeast Asia to combat human trafficking for forced criminal activities, particularly romance scams, cryptocurrency fraud, and illegal gambling operations. The network facilitates real-time intelligence sharing and coordinated law enforcement responses among police, cybercrime specialists, and INTERPOL officials from seven countries (Cambodia, Indonesia, Lao PDR, Malaysia, the Philippines, Thailand, and Vietnam) to dismantle scam compounds and rescue victims. The initiative, funded by Japan, addresses the region's escalating transnational organized crime through direct police-to-police communication and planne
lfpress.com
· 2025-12-08
Romance scams involve fraudsters posing as romantic interests online to manipulate victims into sending money, personal information, or cryptocurrency, often citing emergencies or investment opportunities. Recent cases in Ontario have resulted in significant losses, including one victim losing over $2 million and a Toronto woman losing $450,000; nationally, nearly 800 Canadians lost almost $42 million to romance scams in 2023, with one in four victims in their 60s. Protection strategies include avoiding sharing personal or banking information with online strangers, refusing to invest in unfamiliar platforms, and being wary of people who confess love quickly or consistently make excuses to avoid meeting in person.
nasdaq.com
· 2025-12-08
Losses from scams targeting adults age 60 and older reached $3.4 billion last year—an 11% increase from the prior year—with an average loss of $33,915 per victim, according to FBI data. Older adults are frequently targeted through tech support scams, personal data breaches, and romance scams because they often have substantial assets and may be more trusting and less likely to report fraud. Experts recommend protective measures including strong data hygiene practices, using credit cards for online purchases, verifying unsolicited communications directly with trusted sources, establishing account oversight with multiple trusted contacts, and fostering open conversations about scams to reduce shame and encourage reporting.