Search
Explore the Archive
Search across 19,276 articles about elder fraud. Filter by fraud type, payment mechanism, or keywords.
4,783 results
in Romance Scam
nerdwallet.com
· 2025-12-08
Older adults are increasingly targeted by financial scams, with losses reaching $3.4 billion in the past year—an 11% increase from the previous year, with an average loss of $33,915 per victim. Scammers target this demographic because they typically have savings and assets, are more trusting, and less likely to report fraud, with tech support scams, personal data breaches, and romance scams being most common. Protective measures include adopting basic data hygiene practices (using secure websites, strong passwords, two-factor authentication), verifying unsolicited contacts directly with known sources, establishing multiple trusted contacts to monitor accounts, and reducing stigma around reporting scams.
collins.senate.gov
· 2025-12-08
U.S. Senators Susan Collins and Kyrsten Sinema introduced a bipartisan resolution that unanimously passed the Senate to designate May 15, 2024, as "National Senior Fraud Awareness Day." According to FBI data, seniors lost over $3.4 billion to fraud in 2023—an 11% increase from 2022—through various schemes including tech support, romance, and cryptocurrency scams. The resolution aims to raise awareness and help protect seniors' savings from increasingly sophisticated fraud schemes.
tinleypark.org
· 2025-12-08
The Tinley Park Police Department reported an increase in phone and email scams targeting elderly residents, including government impersonation, sweepstakes, robocalls, tech support, and grandparent scams. The advisory recommends seniors protect themselves by avoiding sharing personal information over phone or email, monitoring financial statements, using multifactor authentication, refusing to send money to strangers, and being skeptical of callers claiming to be law enforcement or pressuring immediate action.
floridatoday.com
· 2025-12-08
A Florida opinion piece highlights the prevalence of elder fraud targeting Space Coast seniors, featuring the case of 80-year-old Judy Kirk who nearly fell victim to a tech support scam demanding $25,000. According to FBI data, seniors over 60 lost $3.4 billion to fraud in 2023, with Florida ranking second nationally; common scams affecting state residents include tech support, investment, romance, gift card, and roofing schemes. The article emphasizes that while Kirk avoided financial loss by sensing something wrong at the last moment, many of her peers were successfully scammed, underscoring the need for elder awareness and vigilance.
countryherald.com
· 2025-12-08
The Tinley Park Police Department warns of an increase in phone and email scams targeting elderly residents, with common schemes including government impersonation, lottery scams, robocalls, tech support fraud, and grandparent scams. The department recommends protecting personal information, monitoring financial statements, using multifactor authentication, avoiding wire transfers and gift card payments, and being skeptical of urgent demands or threats. Victims should contact local police immediately or report scams to the Federal Trade Commission to preserve evidence.
dvidshub.net
· 2025-12-08
Special Agent Johnny Guerrero and other U.S. Air Force cybersecurity experts warn that scammers exploit information shared on social media and dating sites to target military personnel and civilians through fake personas, romance scams, and AI-enabled voice cloning schemes. Social media fraud losses exceeded $2.7 billion in the first half of 2023, with online purchase scams accounting for 44% of losses, while romance scams on dating sites cost victims $1.3 billion in 2022 with a median loss of $4,400. Experts recommend applying a "never trust, always verify" approach: avoid sharing personal details online, verify suspicious requests with family directly, and use
el-observador.com
· 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 victims' desire for companionship through dating apps and other platforms, escalating requests from gift cards to bank account access, with warning signs including early declarations of love, emergency money requests, and broken promises to meet in person. Resources like AARP's Fraud Watch Network (1-877-908-3360) provide free assistance, and experts advise never sending money via wire transfer or cryptocurrency to online contacts.
justice.gov
· 2025-12-08
The U.S. Attorney's Office for the Southern District of Florida announced a Money Mule Initiative in partnership with the FBI, Secret Service, and FDIC-OIG to identify, disrupt, and prosecute networks that facilitate fraud schemes targeting older Americans, including lottery fraud, romance scams, and grandparent scams. Money mules—individuals who receive and transfer stolen funds—are recruited either as unwitting victims of scams or through fake work-at-home job offers, and law enforcement is pursuing criminal prosecution against those knowingly assisting fraudsters, with recent cases involving defendants laundering between $1.5 million and $9.5 million in fraud proceeds.
berkshireeagle.com
· 2025-12-08
This article explains why fraud victims often experience greater shame and social stigma than victims of violent crimes, despite both being theft. Romance and relationship scams are particularly devastating because criminals invest time building emotional connections with vulnerable individuals (often those seeking companionship after loss) through fake profiles on social media, then repeatedly extract money by fabricating emergencies or personal crises. The article advises recognizing red flags such as requests to move communication off dating platforms, inability to meet in person, and repeated requests for money, while recommending early intervention through trusted intermediaries and resources like the AARP Consumer Hotline.
secretservice.gov
· 2025-12-08
The U.S. Attorney's Office for the Southern District of Florida, in partnership with the FBI, U.S. Secret Service, and FDIC Office of Inspector General, launched the Money Mule Initiative to identify and prosecute individuals who transfer stolen funds from fraud victims to international criminals. The initiative targets money mule networks that facilitate various scams affecting older Americans, including lottery fraud, romance scams, and grandparent scams, with some money mules unknowingly recruited as victims themselves or through fake work-at-home job offers. Law enforcement has brought criminal charges against multiple defendants, including cases involving multi-continent money laundering schemes and bank impersonation plots targeting small business owners.
sbs.com.au
· 2025-12-08
Criminals are increasingly using AI technology to create audio deepfakes by cloning victims' voices from recorded phone calls and online sources, then using these replicas to impersonate the victims and extort money from their family members or conduct romance and investment scams. The sophistication of generative AI systems has made these voice cloning frauds difficult to distinguish from authentic communications, prompting warnings from major banks and government authorities. Experts advise people to be cautious when answering suspicious calls and sharing personal information online, as even brief voice samples can be used to train AI systems to replicate their voices convincingly.
ksal.com
· 2025-12-08
According to 2022 FBI and FTC data analyzed by VPNPro, Kansas experienced $24.4 million in losses to elderly fraud affecting an average of 68.6 victims per 100,000 residents aged 60 and over. Nationally, investment scams caused the largest losses ($404 million), followed by business imposters ($271 million) and romance scams ($240 million), with seniors being 517% more likely to fall victim to tech support scams than younger adults. Online fraud and bank transfers were the most common contact methods and payment methods respectively, resulting in $564 million and $570 million in losses to elderly victims in 2022.
the-sun.com
· 2025-12-08
Criminals are increasingly using AI chatbots to execute convincing scams against multiple victims simultaneously, but cybersecurity experts have identified detection methods. To identify an AI chatbot rather than a real person, victims should ask about recent events (since older chatbots lack current information), look for repetitive patterns, notice lack of humor and empathy, and watch for requests for financial help or favors that create emotional manipulation. Key warning signs include the scammer pushing for action, impeccable but wooden phrasing, and the claim that only the victim can help resolve a worsening situation.
dlnews.com
· 2025-12-08
Two foreign nationals—Daren Li (41, dual China/St. Kitts and Nevis citizen) and Yicheng Zhang (38, Chinese national in California)—were charged with laundering approximately $73 million in cryptocurrency stolen from victims of pig-butchering scams, which involve fraudsters building trust with victims online before convincing them to invest in fake projects. The defendants operated an international money laundering syndicate that funneled illicit proceeds through shell company bank accounts and crypto platforms to obscure the funds' origins, with one cryptocurrency wallet alone receiving over $341 million in virtual assets.
cachevalleydaily.com
· 2025-12-08
Scammers stole over $3.4 billion from Americans over 60 last year, with the FBI receiving more than 100,000 complaints and nearly 6,000 victims losing over $100,000 each. The most common schemes include tech support scams, romance fraud, investment fraud, and account-compromise scams where criminals impersonate officials and either pressure victims to transfer funds electronically or arrange in-person courier pickups of cash and precious metals. The FBI warns that families should conduct "tech check-ins" with elderly parents and implement preventive measures, as scammers increasingly use sophisticated and brazen tactics that can leave victims financially devastated.
bbc.com
· 2025-12-08
Romance scam victim Carolyn Woods lost approximately £850,000 to conman Mark Acklom between 2012 and 2019, who was convicted and imprisoned for two years; however, her civil case to recover the funds remains ongoing with little prospect of success as Acklom likely holds no assets in his name. New UK regulations taking effect October 7, 2024, will require banks to repay fraud victims up to £415,000 within five days for authorized push payment scams, though this protection is not retroactive and does not cover overseas transfers. Fraud experts advise victims to contact their banks immediately and appeal through the Financial Ombudsman if necessary, as
kvnutalk.com
· 2025-12-08
In 2023, scammers stole over $3.4 billion from older Americans through increasingly sophisticated schemes, with the FBI receiving more than 100,000 complaints from victims over 60, nearly 6,000 of whom lost over $100,000 each. Common tactics include tech support scams, romance fraud, investment schemes, and impersonation of officials who convince victims their accounts are compromised and direct them to move funds to secret accounts or arrange in-person courier pickups of cash or gold. The FBI warns that losses have risen sharply since the pandemic as organized criminal enterprises target vulnerable older adults, and recommends grown children conduct "tech check-ins" with aging parents to
kiowacountypress.net
· 2025-12-08
I cannot provide a summary of this content. What you've shared appears to be a table of contents or index page listing various news articles and topics from a regional publication, rather than a specific article about elder fraud, scams, or abuse.
While I notice one item titled "Arizona group warns of romance scams, offers tips," the actual content of that article is not included.
To help with your request, please provide:
- The full text or content of a specific article about fraud/scams/elder abuse, or
- A link to the article you'd like summarized
I'm ready to create an Elderus database summary once you share the actual article content.
kiowacountypress.net
· 2025-12-08
I cannot provide a summary of this content. This appears to be a table of contents or index listing for audio articles and podcasts rather than a substantive article about a specific scam, fraud, or elder abuse incident. While one item mentions "Arizona group warns of romance scams, offers tips," the full article text is not provided. To create an accurate summary for the Elderus database, I would need the complete text of a specific article about elder fraud or scams.
7news.com.au
· 2025-12-08
A 28-year-old Sydney woman named Monica discovered that her photos from her public Instagram account had been used to create a fake Tinder dating profile under the name "Tayla," which remained active for approximately six months and matched with multiple users. Monica reported the fraudulent account to Tinder and sought help from friends and online safety groups, though the fake profile persisted despite multiple removal requests, leaving her concerned about potential romance scams or real-life encounters with those who had matched with the imposter account. The incident highlights the risks of maintaining public social media profiles and demonstrates how easily personal images can be misappropriated for dating app fraud schemes.
thehackernews.com
· 2025-12-08
U.S. Department of Justice charged two Chinese nationals, Daren Li and Yicheng Zhang, with orchestrating a "pig butchering" cryptocurrency investment scam that laundered at least $73 million through shell companies and international bank accounts. The victims were deceived into transferring millions to U.S. bank accounts, with funds then routed through the Bahamas and converted to cryptocurrency, and both defendants face up to 20 years in prison per count. Pig butchering scams typically exploit lonely or wealthy targets via social media and dating apps, with the scheme often operating from scam factories in Southeast Asian countries like Myanmar where victims are trafficked and coerced into participation
kunc.org
· 2025-12-08
Scammers across Colorado are using phone calls, texts, and emails impersonating law enforcement, the IRS, tech support, and other trusted entities to defraud victims of thousands of dollars. In 2023, Colorado reported $188 million in losses across 11,000+ victims, ranking 7th nationally per capita, with Summit County Sheriff's Office reporting 80 fraud cases so far this year totaling tens of thousands in losses. Authorities advise remaining skeptical of urgent requests, offers that seem too good to be true, and unsolicited contact, and recommend reporting suspicious activity to StopFraudColorado.gov or IC3.gov, noting that once funds are
the-sun.com
· 2025-12-08
Voice cloning scams use artificial intelligence to impersonate loved ones requesting emergency money, as exemplified when fraud attorney Gary Schildhorn nearly lost $9,000 after receiving a call from what he believed was his injured son in jail. Scammers obtain voice samples from social media, voicemail, and phone recordings, making complete protection difficult despite technology companies offering verification features. To protect against such scams, experts recommend using secret code words with family members, hanging up and independently verifying caller identity through known contact information, and remaining skeptical of urgent requests for immediate payment.
gigazine.net
· 2025-12-08
**Summary:**
On May 17, 2024, U.S. authorities arrested two Chinese nationals—Darren Li and Yichen Zhang—for laundering approximately $73 million (11 billion yen) through shell companies connected to "pig butchering" cryptocurrency investment scams, a romance fraud scheme originating in China where perpetrators build trust with victims before directing them to fraudulent investments. The suspects operated an international syndicate that funneled victim funds through multiple bank accounts and crypto platforms, with cryptocurrency wallets in the scheme containing over $341 million; they face up to 20 years in prison if convicted on money laundering charges.
blockonomi.com
· 2025-12-08
U.S. authorities arrested two Chinese nationals, Daren Li and Yicheng Zhang, for orchestrating a transnational money laundering scheme that funneled over $73 million from "pig butchering" cryptocurrency scams through U.S. financial institutions and converted the funds into USDT (Tether) tokens. The defendants directed co-conspirators to establish shell company bank accounts where victims were deceived into depositing millions, which were then dispersed to accounts in the Bahamas and converted to cryptocurrency. If convicted on money laundering charges, each defendant faces up to 140 years in prison.
tradingview.com
· 2025-12-08
Daren Li and Yicheng Zhang orchestrated a "pig butchering" cryptocurrency scam that defrauded victims of $73 million by cultivating fake romantic relationships on social media and dating apps, then luring victims into investing in fraudulent crypto platforms that generated fabricated returns. The scam exploited human psychology and the desire for connection, with perpetrators using stolen photos and fabricated life stories to build emotional trust before introducing fake investment opportunities. The article advises victims to maintain skepticism toward online romantic interests promising financial returns, research investments thoroughly, and protect personal financial information from strangers online.
thescottishsun.co.uk
· 2025-12-08
I don't have an actual article to summarize. What you've provided appears to be a generic error message or loading screen ("Verifying your device, please wait" / "Verification failed").
To provide an Elderus database summary, please share the actual article or transcript content about a scam, fraud, or elder abuse incident. Once you provide the full text, I'll create a concise 2-3 sentence summary following the guidelines you've outlined.
bibbvoice.com
· 2025-12-08
This educational article outlines six major types of financial fraud—check fraud, romance scams, job scams, utility bill scams, investment scams, and QR code scams—that target vulnerable individuals through increasingly sophisticated methods. First US Bank recommends protective measures including account monitoring, positive pay enrollment, social media caution, caller verification, and consulting with financial professionals to combat these threats. The bank emphasizes that victims should never send money to strangers online, verify job offers and investment opportunities, and always use official channels for payments.
winonapost.com
· 2025-12-08
**Article:** U.S. Department of Justice - Elder Fraud Overview
Millions of elderly Americans lose over $3 billion annually to financial fraud schemes including romance, tech support, grandparent, government impersonation, sweepstakes, home repair, and caregiver scams. Seniors are frequently targeted because they tend to be trusting, have savings and good credit, and are often reluctant to report fraud due to shame or concerns about losing independence. The DOJ recommends protection strategies including recognizing scam attempts, verifying contact information online, resisting pressure to act quickly, avoiding unsolicited offers, never sharing personal information with unverified sources, maintaining updated security
icij.org
· 2025-12-08
The U.S. Treasury Department released a national illicit finance strategy outlining plans to operationalize its new beneficial ownership database for law enforcement, modernize anti-money laundering policies, and address emerging threats including cryptocurrency "pig butchering scams," ransomware, and real estate money laundering. The strategy identifies regulatory gaps in the financial system and highlights recent enforcement actions, including efforts to seize properties purchased with illicit funds, such as apartments linked to foreign officials and corrupt actors. Treasury aims to improve collaboration between domestic and international partners while developing new secure financial platforms and providing training for regulators to combat evolving financial crimes.
palmbeachpost.com
· 2025-12-08
Romance scams affected 70,000 people in 2022, resulting in $1.3 billion in losses with an average loss of over $4,000 per victim, according to the FTC. Florida ranked third nationally with 1,474 reported victims losing $53.4 million. The article identifies ten warning signs of romance scammers, including unusually fast professions of love, reluctance to video chat, requests to move communications off dating platforms, claims of emergencies requiring money transfers, poor grammar, and pressure to keep the relationship secret from friends and family.
globalnews.ca
· 2025-12-08
I apologize, but the content provided appears to be only a webpage header/navigation listing rather than the actual article text. The title indicates the story is about a Calgary senior who was targeted by a scammer impersonating a loved one to solicit money, but the full article content needed to write an accurate summary is not included.
To provide a proper 2-3 sentence summary for the Elderus database, please share the actual article text or transcript content.
ca.sports.yahoo.com
· 2025-12-08
Two Los Angeles retirees, both in their late 70s/early 80s, lost approximately $79,500 and $75,000 respectively to tech support and cryptocurrency scams in early 2024. Neal was duped into allowing remote computer access after a fake software subscription email, while Mrs. K. was tricked by a pop-up virus alert into withdrawing cash and depositing it into bitcoin machines at multiple locations. The article notes that elder fraud is widespread and sophisticated, with the FBI reporting that victims over 60 lost $3.1 billion in 2022, and recommends disconnecting from the internet when encountering suspicious pop-ups and being cautious of uns
techcrunch.com
· 2025-12-08
On Tuesday, major tech companies including Match Group, Meta, and Coinbase launched "Tech Against Scams," a coalition aimed at combating online fraud across dating apps, social media, and cryptocurrency platforms. Romance scams cost users more than any other fraud type as of 2019, while social media scams caused $770 million in losses in 2021 and investment scams exceeded $3.8 billion in losses in 2022; the coalition plans to improve fraud detection, user education, and data-sharing between platforms to address these issues.
uk.news.yahoo.com
· 2025-12-08
In 2023, UK consumers lost a record £85.9 million to purchase scams, with 156,000 cases recorded where victims paid for goods or services that never materialized, according to UK Finance. Purchase scams accounted for approximately two-thirds of the 232,429 authorized push payment (APP) fraud cases reported, with total APP losses reaching £459.7 million; romance scams also hit a record high at £36.5 million lost. UK Finance warned that scammers would likely target consumers seeking tickets to major 2023 events like the Olympics and Taylor Swift concerts, with Lloyds Bank estimating over £1 million already lost to frau
prnewswire.com
· 2025-12-08
Major technology companies including Meta, Coinbase, Match Group, Ripple, Kraken, and Gemini announced the formation of "Tech Against Scams," a coalition aimed at collaborating to prevent and disrupt online fraud schemes such as romance scams, crypto scams, and "pig butchering" scams. The coalition will share threat intelligence, best practices, and consumer education strategies to identify and combat evolving financial scams that target users across multiple platforms. This cross-industry effort addresses the challenge that scammers operate across multiple services, requiring coordinated action that no single company can achieve alone.
ca.finance.yahoo.com
· 2025-12-08
Tech and crypto companies including Meta, Match, Coinbase, Kraken, Ripple, and Gemini formed a coalition called Tech Against Scams to combat romance scams and "pig butchering" schemes, where scammers gain victims' trust before stealing money through fake investment opportunities. The initiative was announced in response to a surge in fraud losses, including $700 million lost to romance scams and $2.5 billion to crypto scams in 2022, with criminal gangs primarily based in Southeast Asia using human trafficking victims to target victims via social media and dating platforms. By sharing threat information and tools across companies, the coalition aims to disrupt scam networks more quickly an
fortune.com
· 2025-12-08
A coalition of major tech and crypto companies—including Match, Meta, Coinbase, Kraken, Ripple, and Gemini—launched Tech Against Scams to combat romance scams and "pig butchering" schemes that have cost Americans $700 million in romance scams (2022) and $2.5 billion in crypto-related scams overall. Criminal gangs primarily based in Southeast Asia exploit social media, dating platforms, and cryptocurrency to build false relationships and trick victims into sending money, with a recent arrest of two Chinese nationals revealing a single syndicate that stole at least $73 million. The coalition aims to share threat intelligence and security tools to more rapidly identify an
thesun.co.uk
· 2025-12-08
Romance scams reached a record high in 2023, with UK victims losing £36.5 million to fraudsters who posed as romantic partners on social media and dating platforms before requesting money for fabricated expenses. The scams, which typically involved victims making around ten payments over several months, increased by nearly a third compared to 2022 and doubled since 2020, though experts note the actual figure is likely higher due to underreporting and emotional trauma suffered by victims of all ages.
itechpost.com
· 2025-12-08
**Cryptocurrency scams targeting seniors have become a billion-dollar crisis, with victims over 60 losing $3.4 billion in 2023—including $1.6 billion specifically through cryptocurrency transactions—according to FBI data.** Common schemes include investment fraud, romance scams, and tech support impersonation, where scammers exploit older adults' unfamiliarity with digital assets to pressure them into sending money via crypto platforms. Companies like Lionsgate Network are developing blockchain forensics technology to trace and freeze stolen crypto assets and recover funds through legal channels.
gulflive.com
· 2025-12-08
Florida's seniors lost nearly $300 million to scams in 2023, with the state ranking second nationally for elder fraud complaints. Major schemes included investment fraud ($90 million), tech support scams ($51 million), and romance scams ($40 million), often resulting in devastating consequences such as foreclosed homes and emptied retirement accounts. Nationally, people over 60 lost approximately $3.4 billion to fraud in 2023, representing an 11% increase from the previous year.
the-sun.com
· 2025-12-08
Pamela Mangum and her husband lost $70,000 to an investment scam that began when Mangum clicked on a Bitcoin mining link posted by a family member (whose account had been hacked) and was contacted by a fraudster posing as an investment coach. Over six months, Mangum made deposits through Bitcoin ATMs and the scammers also created unauthorized Cash App accounts using her personal information obtained from an online investment profile, draining additional funds before she discovered the scheme when attempting to withdraw her purported $159,638 balance. The scammer, believed to be operating from Nigeria, exploited Mangum's information to fraudulently access her bank accounts, resulting in significant
itechpost.com
· 2025-12-08
**Cryptocurrency scams targeting seniors have become a billion-dollar problem, with victims over 60 losing $3.4 billion in 2023—including $1.6 billion specifically through cryptocurrency transactions like Bitcoin and Ethereum.** Common fraud schemes include investment scams and romance/tech support impersonation scams that exploit seniors' unfamiliarity with digital assets and manipulate them into sending money via crypto platforms. Companies like Lionsgate Network are working to combat the issue through blockchain forensics and asset recovery, while emphasizing that public awareness and education in senior communities are critical to prevention.
thecyberexpress.com
· 2025-12-08
Malachi Mullings, 31, from Georgia, was sentenced to 10 years in prison for money laundering and conspiracy related to a fraud network that defrauded over $4.5 million from victims through business email compromise attacks, romance scams, and healthcare benefits fraud, including $310,000 diverted from a state Medicaid program and $260,000 from romance scam victims. Mullings was part of a 10-person conspiracy that caused more than $11.1 million in total losses by targeting Medicare, Medicaid programs, private health insurers, and vulnerable individuals. FBI data shows elder fraud complaints increased 14% in 2023
finance.yahoo.com
· 2025-12-08
Major technology companies including Coinbase, Match Group, Meta, Ripple, and Gemini formed "Tech Against Scams," a coalition addressing the surge in romance scams and cryptocurrency investment fraud. Scammers use fake identities on dating apps and social media to build trust with victims before pressuring them into cryptocurrency investments and stealing their funds, with the Department of Justice recently uncovering a single romance scam involving over $73 million in laundered assets. The coalition will share threat intelligence, best practices, and consumer education to combat these increasingly prevalent scams across digital platforms.
theregister.com
· 2025-12-08
Georgia resident Malachi Mullings received a 10-year prison sentence for laundering $4.5 million in proceeds from business email compromise (BEC) attacks targeting healthcare providers and romance scams targeting individuals, including numerous elderly victims, between 2019 and July 2021. Mullings used multiple bank accounts under his company name to conceal the fraud, purchasing luxury items including a Ferrari with stolen funds; one romance scam victim alone lost $260,000. He pleaded guilty to eight charges including money laundering and conspiracy to commit money laundering as part of a larger scheme involving nine other suspects across Georgia, South Carolina, and Virginia that defrauded state Medicaid programs
coindesk.com
· 2025-12-08
Major cryptocurrency exchanges Coinbase and Kraken, along with Meta, Match Group, Ripple, and Gemini, formed the "Tech Against Scams" coalition to combat online fraud schemes, particularly "pig butchering" scams where fraudsters use dating apps and social media to build trust before pitching fake cryptocurrency investment opportunities. U.S. losses from crypto investment scams reached $3.94 billion in 2023, up from $2.57 billion in 2022, prompting the coalition to share threat intelligence and best practices to protect users.
yahoo.com
· 2025-12-08
Major tech companies including Meta, Match Group, Coinbase, Kraken, Ripple, and Gemini launched the coalition "Tech Against Scams" to combat online fraud across dating apps, social media, and cryptocurrency platforms. Romance scams, social media fraud ($770 million in losses in 2021), investment scams ($3.8 billion in losses in 2022), and "pig butchering" crypto scams have cost consumers billions, prompting these companies to share data and collaborate on detection methods and consumer education to disrupt scammers' activities across multiple platforms.
indiatoday.in
· 2025-12-08
Meta has partnered with major cryptocurrency firms (Coinbase, Kraken, Ripple, Gemini) and dating apps like Match Group to launch "Tech Against Scams," a coalition aimed at combating the rising tide of online fraud including romance scams and pig butchering schemes. The initiative will work by sharing threat intelligence and best practices among tech companies to identify and disrupt scam networks, while simultaneously educating users about the risks of online interactions and financial transactions. Romance scams involve fraudsters creating fake identities to establish emotional connections and extract money, while pig butchering scams build trust over time before luring victims into fake investment opportunities.
therecord.media
· 2025-12-08
Malachi Mullings, a 31-year-old Georgia man, received a 10-year prison sentence for stealing over $3.8 million from a state Medicaid program through business email compromise (BEC) scams, where he impersonated trusted business associates to redirect payments to accounts he controlled, and an additional $260,000 from romance scams. This conviction is part of a broader federal crackdown on BEC schemes, with multiple recent prosecutions securing convictions for laundering millions in stolen funds, as BEC fraud caused nearly $3 billion in reported losses in 2023 alone.