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abc7chicago.com
· 2026-05-16
Scammers posing as lawyers, law enforcement officials, and immigration organizations are targeting immigrants across the U.S., including in Chicago, by falsely claiming victims need to pay "bonds" to avoid jail or claiming money will support immigration cases. A Chicago woman was charged with defrauding multiple victims of $3.5 million using this scheme, and similar cases have been prosecuted in New York and other states. The FBI warns people to be cautious of unsolicited contacts demanding payment and to verify the identity of anyone claiming to be a government official or lawyer through official channels before sending money.
hawaiinewsnow.com
· 2026-05-16
Linda Coble, Hawaii's pioneering first female TV newscaster, lost nearly $60,000 to an elaborate sweepstakes scam in which a caller claiming to be from U.S. Customs convinced her she'd won $5.5 million from Publishers Clearing House and needed to pay taxes and fees upfront. Hawaii residents lost nearly $80 million to fraud last year—a 25% increase—and Coble is publicly sharing her story to warn other seniors, emphasizing that scammers build trust through consistency, daily contact, and involving multiple accomplices posing as government officials. To protect yourself, never send money for "taxes" or "fees" on prizes you've won, verify claims directly with official organizations using independently confirmed phone numbers, and be skeptical of unsolicited calls—legitimate contests don't require upfront payments.
outlooknewspapers.com
· 2026-05-16
Seniors across the country are increasingly falling victim to sophisticated fraud schemes, with losses reported by adults 60 and over skyrocketing from $600 million in 2020 to $2.4 billion in 2024, according to the FTC. Scammers use tactics like fake dating profiles, romance scams, and "pig butchering" schemes (where they build trust over months before tricking victims into depositing money into fraudulent cryptocurrency platforms) to exploit vulnerable older adults. To protect yourself, be cautious of unsolicited messages on dating apps and social media, avoid sharing financial information with online contacts you haven't met in person, and verify investment opportunities through official channels before sending money.
foxnews.com
· 2026-05-15
Scammers are using a "silent voicemail scam" where people receive voicemail notifications without their phones actually ringing, often with no audio content in the messages. The tactic confirms that phone numbers are active and in use, making them targets for future scams, while hoping victims will call back out of curiosity. To protect yourself, avoid returning calls to unknown numbers, use your carrier's call-blocking features, mark suspicious voicemails as spam, and consider registering with the Do Not Call Registry.
news.usps.com
· 2026-05-15
wmar2news.com
· 2026-05-15
A Baltimore man nearly fell victim to a sweepstakes scam where a caller claiming to represent Reader's Digest and Publishers Clearing House told him he'd won $9.4 million and a Mercedes-Benz, then requested $500 in Apple gift cards for "document fees." The scam is part of a wider problem in Maryland—the Department of Justice recently charged Jamaican nationals with running a lottery fraud scheme that stole over $9.5 million from victims who were similarly asked to pay taxes and fees upfront. The key takeaway: legitimate sweepstakes will never ask you to pay money to claim a prize, so if you're contacted about a prize you don't remember entering and asked for upfront payment, it's a scam.
yahoo.com
· 2026-05-15
Americans lost $3.5 billion to imposter scams in 2025, with fraud schemes ranking as the top complaint for the ninth year running, according to the Federal Trade Commission. The surge was driven by criminals posing as government agencies—particularly fake highway toll collection texts—and romance scammers who build trust before stealing money. To protect yourself, avoid clicking links or calling numbers in suspicious texts; instead, contact your state's toll agency directly through verified channels, and be cautious of online relationships that eventually lead to requests for money or investment help.
thesun.co.uk
· 2026-05-15
Romance scammers are targeting lonely people—particularly widows and divorcees—on dating websites, with cases rising 9% in 2024/2025 and Britons losing £109 million total. Perpetrators use cruel tactics like fake illnesses or dead children to extract money, with some victims losing over £400,000; one heartbreaking case involved a grandmother who lost £1 million and died in a car crash while trying to recover her losses in Ghana. To protect yourself, be cautious of online dating connections who quickly ask for money, verify identities through video calls before deepening relationships, and report suspicious activity to authorities or the FCA immediately.
vocal.media
· 2026-05-15
Romance scammers are targeting people through dating apps and social media, building trust over weeks before convincing victims to invest in fake cryptocurrency schemes, often resulting in thousands of dollars in losses. Experts are urging victims to report these scams immediately because criminals quickly move stolen cryptocurrency through multiple exchanges and laundering channels, making the money nearly impossible to trace within hours. If you suspect you're being scammed, report it right away to law enforcement and fraud reporting platforms rather than waiting—delays significantly reduce the chances of recovering stolen funds.
straitstimes.com
· 2026-05-15
A Singapore resident lost at least $4.9 million in a sophisticated scam involving deepfake AI technology used to impersonate Prime Minister Lawrence Wong and other senior government officials on a fake Zoom video conference call. The scammers typically target business professionals by sending WhatsApp messages and emails appearing to come from high-ranking officials, requesting urgent financial assistance under the guise of government meetings or classified matters. To protect yourself, be skeptical of unexpected invitations to video calls with senior figures, verify requests through official government channels independently, and never share identification documents or financial information based solely on digital communications.
theweek.com
· 2026-05-14
Older adults are increasingly targeted by scams, including new schemes exploiting concerns about upcoming inheritance tax changes and traditional tactics like grandchild impersonation scams, with victims over 65 losing an average of £831 per incident. Scammers use emotional manipulation and request untraceable payment methods like gift cards or wire transfers to steal money and personal data, sometimes resulting in victims losing their life savings within seconds. To protect yourself or loved ones, experts recommend staying vigilant by pausing to verify the source of requests, being skeptical of urgent pleas from "relatives" asking for money, and refusing requests for gift cards or wire transfers.
wfsb.com
· 2026-05-14
A 69-year-old Arizona woman lost her home after falling victim to a romance scam in which a man posing as a Navy officer stationed overseas built an emotional relationship with her through Facebook and messaging apps, then convinced her to send thousands of dollars to supposedly clear customs for a package of valuables. According to a 2025 AARP report, at least one in 10 adults over age 50 have experienced romance scams, though over half don't report them to authorities. To protect yourself, be wary of online relationships that move quickly to private messaging apps, refuse requests from supposed military personnel who can't video call, and never send money to strangers claiming to need funds for packages or customs fees.
finance.yahoo.com
· 2026-05-14
Financial scams are becoming increasingly sophisticated and targeting seniors at alarming rates, with the Federal Trade Commission reporting that from 2020 to 2024, reports of older adults losing at least $10,000 to scams increased fourfold, and those losing $100,000 or more increased sevenfold. Seniors are particularly vulnerable because fraudsters believe they have substantial savings, and many victims don't report the crimes due to embarrassment, creating a false sense of low risk for scammers. To protect yourself, stay vigilant about recognizing warning signs of scams and be proactive in verifying any unsolicited financial requests before responding.
phillymag.com
· 2026-05-14
Financial scams are surging across Philadelphia and nationwide, with reported losses hitting $16.6 billion in 2024, using increasingly sophisticated methods like fake text messages impersonating bosses or government agencies to trick people into purchasing gift cards or clicking malicious links. Victims aren't necessarily careless—scammers use stolen data from past breaches and AI technology to make their schemes more convincing and targeted. To protect yourself, experts recommend staying skeptical of unexpected requests (especially those demanding urgency), verifying requests through official channels by calling the organization directly, and being cautious about sharing personal information online.
mercurynews.com
· 2026-05-13
Older adults are losing billions of dollars to increasingly sophisticated scams, with fraud losses rising from $600 million in 2020 to $2.4 billion in 2024, according to federal data. Seniors are targeted because they often have retirement savings and assets, plus may be less familiar with evolving technology like AI-powered voice mimicry and phishing schemes. Experts advise older adults and their families to be cautious of urgent requests for money, verify caller identities through independent contact information, and stay skeptical of unsolicited communications—especially those creating emotional pressure.
whec.com
· 2026-05-13
A DoorDash driver in Rochester lost $950 to scammers who called her pretending to be from DoorDash, claiming her delivery order involved a stolen credit card, then instructed her to withdraw cash and purchase mobile banking cards at Walgreens. The scam targeted her while she was working and exploited her trust in what appeared to be a legitimate call from her employer. To protect yourself: DoorDash warns drivers never to follow instructions from unsolicited calls claiming to be from the company, and you should always hang up and contact DoorDash directly through official channels if you receive such a call.
forbes.com
· 2026-05-13
Imposter scams posing as the IRS and other government agencies have nearly doubled in reported losses to $797 million in 2025, with scammers using AI to create convincing fake emails, texts, and calls that exploit people's fear and urgency. A new threat involves fake QR codes mimicking legitimate IRS notices that direct victims to fraudulent websites to steal banking information. To protect yourself, remember that the IRS never initiates contact via text, email, or phone asking for payment or banking details—instead, directly access your IRS account online or contact the IRS through official channels, and be wary of any request for payment via gift cards.
livenowfox.com
· 2026-05-12
Financial scams targeting older Americans are increasing at an alarming rate, with Arizona reporting the highest number of fraud cases among residents age 60 and older at seven reports per 1,000 people, followed by Delaware and Colorado. Business imposter scams are the most common fraud type nationwide, though government imposter scams are more prevalent in six states including Alaska and Iowa. Experts warn that as digital banking and online payments become more common, older Americans should be vigilant about verifying the identity of anyone requesting financial information and consider reporting suspicious activity to the Federal Trade Commission.
smartasset.com
· 2026-05-12
Millions of seniors are targeted by financial scams annually, with the U.S. Treasury identifying $27 billion in suspected elder financial exploitation in a single 12-month period, as scammers increasingly use phishing and impersonation tactics through digital banking and communication channels. SmartAsset analyzed 2024 Federal Trade Commission data to identify which states have the highest rates of reported fraud against people age 60 and older and found that phishing scams, business imposter fraud, and government imposter fraud are among the most common methods used. Seniors should remain vigilant about unsolicited communications claiming to be from banks or government agencies, verify requests through official channels before sharing information, and report suspected fraud to the FTC.
courthousenews.com
· 2026-05-12
Zhao Wang, a Chinese national, was sentenced to 12 years in prison for leading a sophisticated international scam that defrauded over 2,000 elderly Americans of $27 million between 2021 and 2023. The scheme used fake refunds, technical support scams, and impersonation tactics via phone calls and emails to trick victims into sending cash and wire transfers to addresses in Southern California and Nevada, where accomplices used fake IDs to collect the money. Seniors should be wary of unsolicited refund offers, requests to wire money or mail cash, and should verify any claims directly with official institutions by calling known phone numbers rather than using contact information provided by callers.
wgal.com
· 2026-05-12
Government imposter scams—where criminals pretend to be tax, Social Security, or other government agencies—topped the list of reported frauds in 2025, with over one million complaints and $3.5 billion in losses, according to the Federal Trade Commission. These scams often arrive as threatening text messages about overdue tolls or fees and pressure victims to pay via gift cards, cryptocurrency, or wire transfers. The FTC urges people to be skeptical of any unsolicited government contact demanding immediate payment, since legitimate agencies never request money through these methods.
goldrushcam.com
· 2026-05-11
A Philippine man pleaded guilty to running a massive book publishing scam that defrauded over 800 Americans—primarily seniors—out of $48 million between 2017 and 2024. The scheme operated through fake literary agencies that promised major publishing deals and Hollywood film adaptations in exchange for upfront fees for taxes and "transaction costs" that never materialized. To protect yourself, be extremely skeptical of unsolicited offers from literary agents, never pay upfront fees for publishing services from agents who contact you first, and verify any agency's legitimacy through established industry databases before sending money.
communitynewspapergroup.com
· 2026-05-11
About 50 residents in Fayette County, Iowa attended an educational presentation on fraud where local law enforcement and financial experts detailed common scams, including an IRS impersonation scam that cost a local senior $7,000. The scammers posed as IRS agents demanding immediate payment via phone call and threatening arrest, exploiting the victim's fear to bypass normal verification processes. Experts emphasized that the IRS never initiates contact by phone demanding payment and advised residents to be skeptical of unsolicited calls requesting money, particularly those creating urgency or threatening legal consequences.
indianexpress.com
· 2026-05-11
Three men rescued from a Myanmar cyber scam compound in January brought their criminal skills back to India, where they regrouped and allegedly launched their own fraud operation near Mumbai before being arrested in March. The trio, along with two accomplices, were running elaborate online scams including a stock trading con that defrauded a businessman and his parents of Rs 2.1 crore. Police warn that these rescued victims are becoming trained operatives who replicate criminal models within India, highlighting how organized cyber fraud networks exploit and train young Indians for crime.
cnbc.com
· 2026-05-10
AI-powered scam calls using deepfake voice technology are becoming increasingly sophisticated and common, with scammers impersonating family members in distress to extort money from victims. One Montana woman nearly fell for the scam when a caller perfectly mimicked her daughter's voice and crying, demanding payment while threatening her—the deception was so convincing that despite suspecting it was a scam, she almost complied out of fear for her daughter's safety. To protect yourself, verify emergencies by directly calling family members using known phone numbers, be skeptical of caller ID (which can be spoofed), and contact police rather than sending money if someone claims a loved one is in danger.
savingadvice.com
· 2026-05-10
Scammers are increasingly using fake QR codes—a tactic called "quishing"—to trick people into visiting malicious websites that steal personal and financial information, often by placing these codes in everyday locations like parking lots, restaurants, and utility bills. Seniors and smartphone users are particularly vulnerable because they tend to scan QR codes without questioning them, and the hidden destination cannot be seen before scanning. To protect yourself, experts recommend carefully inspecting QR codes before scanning, verifying they're from legitimate sources, and being especially cautious with unexpected codes in public spaces or unsolicited packages.
lancasteronline.com
· 2026-05-10
forbes.com
· 2026-05-09
Imposter scams—where fraudsters pretend to be trusted entities like the IRS, businesses, or loved ones—have ranked as the #1 scam for nine consecutive years, with the FTC receiving over one million reports in 2025 and losses jumping nearly 20% to $3.5 billion. Government imposter scams surged 40%, particularly fake toll collection messages sent via text that create false urgency to pressure victims into immediate payment through gift cards, wire transfers, or cryptocurrency. To protect yourself, never respond to unsolicited messages demanding payment; instead, contact the relevant agency directly using official phone numbers or websites to verify any claims before taking action.
buffalobulletin.com
· 2026-05-09
Digital scams are becoming increasingly sophisticated and prevalent in Sheridan, with police reporting major losses including an $80,000 and $16,000 scam already in May alone. Residents are being targeted by various schemes including grandparent scams, bank impersonation, and tech support fraud, with scammers using fear and urgency as their primary tactic. Police advise anyone receiving aggressive or urgent demands over the phone to hang up immediately, as legitimate organizations will never pressure you to act instantly.
yahoo.com
· 2026-05-09
Imposter scams cost Americans $3.5 billion in 2025, with government imposter scams surging 40% largely due to fraudulent text messages threatening unpaid highway tolls—scammers pose as legitimate toll agencies like EZ-Pass and SunPass to scare people into paying. If you receive such a text, verify the claim directly with your state's toll agency using official contact information rather than details in the suspicious message, and avoid sending money to anyone you haven't met in person, as romance scams also increased 22% with average losses of $2,020 per victim. Report any scams you encounter to ReportFraud.ftc.gov to help authorities stop these operations.
themesatribune.com
· 2026-05-09
A Mesa teenager named Shilo Karakkattu developed ScamSafe, a free website tool that helps seniors and others quickly identify scam calls and fraudulent messages by analyzing suspicious content and explaining warning signs in plain language. The tool was inspired by his grandparents' experiences with IRS robocalls and fake Medicare texts, and addresses a serious problem—Americans over 60 lost nearly $5 billion to scams in 2024, with Arizona particularly affected. ScamSafe requires no login, stores no personal data, is available in six languages, and is designed specifically for users who may be uncomfortable with technology.
asiaone.com
· 2026-05-08
Police investigated 225 people across a two-week operation who were allegedly involved in over 564 scams that defrauded victims of more than $4.8 million, with crimes including e-commerce fraud, impersonation schemes, and investment scams. The suspects face serious penalties including up to 10 years in prison for cheating, mandatory caning, and significant fines, with one 23-year-old money mule already sentenced to seven months jail and caning. To protect yourself, be cautious of unsolicited job offers, investment opportunities, and requests from "friends" or officials asking for money or personal information like SIM cards or credentials.
pymnts.com
· 2026-05-08
The Federal Trade Commission is warning consumers about imposter scams that cost Americans $3.5 billion in 2025, with two main types being text messages demanding payment for unpaid tolls and online romance scams where fake love interests request money. These scams, which have topped FTC fraud reports for nine consecutive years, affected over 1 million consumers who reported losses. To protect themselves, consumers should verify toll payment requests by contacting their state's toll agency directly and should never send money to people they've never met in person, especially when online acquaintances suddenly ask for financial help or investment opportunities.
waff.com
· 2026-05-08
Scams targeting adults 55 and older have increased by 10% since 2023, with fraudsters using imposter tactics like fake jury duty calls and fake government agency contacts, according to the Better Business Bureau. Seniors are increasingly vulnerable because they're spending more time online, and scammers are becoming more aggressive, particularly with crypto kiosk schemes where victims deposit cash that's nearly impossible to recover. To protect yourself, be skeptical of unsolicited calls from government agencies, avoid cryptocurrency kiosks, and verify caller identity through official phone numbers rather than using information provided by the caller.
queencreektribune.com
· 2026-05-08
A BASIS Mesa high school student named Shilo Karakkattu created ScamSafe, a free website tool that helps people—especially seniors—detect scam calls and text messages by analyzing suspicious content and explaining potential threats in plain language. The tool was inspired by his grandparents' experiences with fraudulent IRS and Medicare scams, and addresses a critical problem: Americans over 60 lost nearly $5 billion to scams in 2024, with Arizona among the hardest-hit states. ScamSafe requires no login, stores no personal data, is available in multiple languages, and uses a simplified design to help users who may be uncomfortable with technology—making it easy for anyone to paste or screenshot a suspicious message and get immediate clarity on whether it's a scam.
smdailyjournal.com
· 2026-05-06
Americans are increasingly targeted by text message scams—with the FTC reporting $470 million lost to these schemes in 2024, more than five times the 2020 amount, and seniors losing $4.8 billion alone. Common scams include fake FasTrak toll notices, USPS delivery failures, bank fraud alerts, and court summons, with one person losing over $150,000 to a convincing phishing text. To protect yourself, never click links or QR codes in unsolicited texts, use your phone's "report spam" feature, and remember that legitimate companies like FasTrak and USPS don't request payment via text.
straitstimes.com
· 2026-05-06
Scammers are impersonating high-profile government officials, celebrities, and royalty to trick people into attending fake virtual meetings and transferring money. Victims are typically contacted through social media or messaging apps like WhatsApp and Telegram, then asked to provide personal information and NDAs before being pressured to send funds or make payments. To protect yourself, verify any unexpected meeting invitations directly with the person or organization being impersonated, never click links in unsolicited emails or messages, and avoid sharing identification documents or transferring money based on such requests.
abc7chicago.com
· 2026-05-06
Scammers posing as bank officials and fake FBI agents are conducting sophisticated phone spoofing schemes that trick people into transferring thousands of dollars from their accounts. One Illinois woman lost $40,000 after criminals who had obtained her account details convinced her to move money to a "secured" account, and experts warn that thieves can gather banking information from the dark web or other sources before calling. Banks advise customers to never transfer money or provide access based on unsolicited calls, texts, or online requests, and to verify requests directly by calling their bank's official number.
foxbusiness.com
· 2026-05-05
# Summary
Banking spoof callers are impersonating legitimate financial institutions and law enforcement to trick customers into moving their money to fake "secured" accounts, with the FBI warning this is a growing problem. Two victims—Chase customer Jennifer Lichthardt who lost $40,000 and Huntington Bank customer Susie Allgood who lost $5,000—were convinced to transfer funds by scammers who had obtained their personal account information. Banks and the FTC urge customers to never transfer money in response to unsolicited calls or messages claiming to protect their accounts, as legitimate financial institutions do not make such requests.
the420.in
· 2026-05-05
A coordinated international law enforcement operation led by Dubai Police, the FBI, and Chinese authorities arrested 276 people and shut down nine cryptocurrency scam centers involved in a ₹5,853 crore fraud scheme. The scammers used "pig butchering" tactics—building trust through fake romantic or friendly relationships to convince victims to invest in fraudulent cryptocurrency schemes—and were linked to human trafficking networks that exploited coerced workers. To protect yourself, be extremely cautious of online relationships that quickly pivot to investment opportunities, verify cryptocurrency investment platforms independently, and report suspicious activity to local authorities or the FBI's Internet Crime Complaint Center.
mexc.com
· 2026-05-05
AI-powered cryptocurrency scams have exploded, with reports jumping 456% between May 2024 and April 2025, as fraudsters use artificial intelligence to create highly convincing phishing emails, deepfake videos, and impersonations at scale. Crypto users are particularly vulnerable because blockchain transactions are irreversible and markets operate 24/7, making it nearly impossible to recover stolen funds. To protect yourself, remain skeptical of unsolicited messages and offers, verify identities through official channels before clicking links or sharing credentials, and be especially cautious of content that seems unusually personalized or urgent.
foxnews.com
· 2026-05-05
Scammers are targeting drivers nationwide with fake text messages claiming unpaid traffic violations and asking them to scan QR codes to pay small fees (around $6.99), but these messages are actually phishing attempts designed to steal payment information. The scam has affected residents across multiple states including New York, California, Texas, and others, and uses fake court notices with official-looking language and embedded QR codes to bypass security detection. To protect yourself, ignore these texts entirely—legitimate courts communicate through official mail, not unsolicited text messages—and never scan QR codes from unexpected sources.
foxnews.com
· 2026-05-04
Scammers are increasingly targeting grieving widows by using publicly available information from obituaries, death records, and data broker websites to create detailed personal profiles and impersonate life insurance companies or other officials to steal Social Security numbers and bank details. According to FBI data, over 52% of crimes against Americans over 60 in 2023 were enabled by personal information available online, making the vulnerable period after a spouse's death particularly dangerous. The article recommends that widows take action within 90 days to opt out of data brokers to limit scammers' access to their personal information.
liverpoolecho.co.uk
· 2026-05-04
A 40-year-old former British soldier from Bootle has become a victim of identity theft by romance scammers who use his photos to create fake profiles posing as military personnel, then manipulate victims into sending money. When scam victims discover the deception, they often find Steven's real social media accounts and direct abuse and death threats at him, despite his innocence. To protect yourself from romance scams, be cautious of military personnel requesting money, verify identities through video calls, and report suspicious accounts to the appropriate authorities rather than confronting the person in the photos.
liverpoolecho.co.uk
· 2026-05-04
A 40-year-old former British soldier from Bootle has had his identity stolen by online romance scammers who use his photographs to create fake profiles impersonating serving soldiers and defrauding victims. When the scam victims realize they've been deceived, they often find Steven Kelly's real social media accounts and direct abuse and death threats at him instead of the actual fraudsters. Although Kelly has reported the issue to Report Fraud (the UK's national fraud reporting center), his case has not been passed to a local police force for investigation, leaving him to endure ongoing harassment from unwitting scam victims.
english.elpais.com
· 2026-05-03
Fraud against Americans has reached unprecedented levels, with scammers operating from sophisticated call centers in countries like the Dominican Republic and using AI, scripts, and accomplices to impersonate relatives, lawyers, and government officials to steal money. In 2025 alone, the FBI recorded one million fraud complaints totaling $20.8 billion in losses—a dramatic increase from 49,000 reports and $18 million in losses in 2001—with vulnerable populations like elderly Americans and undocumented immigrants being primary targets. To protect yourself, be skeptical of unsolicited calls claiming emergencies or legal issues, verify caller identities through official channels before sending money, and report suspected fraud to the FBI immediately.
wgnsradio.com
· 2026-05-03
A Rutherford County podcast episode examined two critical threats to elderly residents: physical abuse (highlighted by a 2009 murder case) and financial exploitation through scams targeting seniors. The episode featured law enforcement and prosecutors discussing common scams like romance schemes and digital payment app fraud, while introducing VAPIT, a task force dedicated to investigating elder abuse and exploitation. The discussion emphasized that seniors are vulnerable to predators who manipulate them through fear and appeals to kindness, underscoring the importance of community awareness and intervention in protecting elderly residents.
markets.financialcontent.com
· 2026-05-03
Rovetan Token is a new cryptocurrency project designed to simplify digital payments by integrating blockchain technology with AI-powered messaging, allowing users to send cryptocurrency as easily as sending a text message. The project addresses a major barrier to mainstream crypto adoption—the technical complexity of traditional wallets that require users to manage long wallet addresses and understand blockchain mechanics. While the article promotes this as an innovation, readers should exercise caution with any new cryptocurrency projects by researching the team's credentials, understanding the actual technology behind claims, and never investing more than they can afford to lose.