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in Crypto Investment Scams
thesenior.com.au
· 2025-12-08
Australian authorities are tightening regulations on cryptocurrency ATMs after discovering widespread use in scams targeting elderly citizens, with the anti-money laundering regulator AUSTRAC refusing to renew one operator's license and implementing transaction limits and stricter requirements. Analysis of crypto ATM usage found that 79% of users were over 50 years old, with those aged 60-70 significantly overrepresented as scam victims, and the Australian Federal Police reported 150 scam cases linked to crypto ATMs in 2024 resulting in over $3.1 million in losses, though experts believe actual losses are substantially higher due to underreporting. The measures address a critical vulnerability in which elderly
justice.gov
· 2025-12-08
A cryptocurrency investment scam targeting two victims resulted in approximately $563,000 in stolen funds, which the U.S. Attorney's Office for Northern District of Ohio is seeking to forfeit as 679,981.22 USDT tokens. A victim in Solon, Ohio lost roughly $500,000 after being contacted by someone posing as "Kristina Tian" on LinkedIn who gained his trust and directed him to transfer cryptocurrency to a fraudulent investment platform; an Arizona woman lost $63,000 (including $15,000 from her 401(k) and $48,000 from a home equity loan her daughter obtained) through a similar scheme initiated on a
expressvpn.com
· 2025-12-08
The Nigerian prince scam (also called a 419 scam) is an advance-fee fraud where scammers pose as foreign royalty or wealthy individuals and convince victims to pay upfront "processing fees" or "taxes" for access to promised large sums of money. Originating from 19th-century Spanish prisoner schemes and proliferating via email in the 1990s, the scam continues to victimize people daily despite widespread awareness, sometimes escalating to using victims as money mules for stolen funds. To protect yourself, remain skeptical of unsolicited contact from strangers claiming to need financial help, verify identities through official channels, never send money upfront, and avoi
wisbusiness.com
· 2025-12-08
Investment and cryptocurrency scams remain the riskiest threat for adults 55+, followed by online purchase scams and romance scams for specific age groups, according to the BBB Scam Tracker Risk Report. The article provides practical prevention strategies including: avoiding unsolicited callers (especially those claiming to be government agents or bank employees), recognizing red flags like pressure to act or unusual payment requests, hiring only licensed contractors through verified sources, remaining alert to emergency/grandchild scams, and hanging up on calls about "free" medical equipment or government impersonations. Key advice emphasizes registering with the National Do-Not-Call Registry, verifying unexpected claims through official sources, and maintaining healthy
afp.gov.au
· 2025-12-08
From January 2024 to January 2025, Australian authorities received 150 reports of cryptocurrency ATM scams resulting in $3.1 million in losses, with an average loss of $20,000 per victim; however, officials warn this likely represents significant under-reporting, as approximately $275 million moves through crypto ATMs annually in Australia. The victims were predominantly women (68%) and people over 51 years old (48%), who were targeted through investment scams, extortion emails, and romance scams that pressured them to deposit cash into crypto ATMs. Australian authorities are implementing educational campaigns near crypto ATMs to warn the public about common warning signs, including unsolicited deposit
someecards.com
· 2025-12-08
A woman in her early 30s was targeted by a romance scam in which her online boyfriend of six months, claiming to work on an offshore oil rig in Dubai, requested $10,000 to cover a family emergency and asked her to borrow the money from coworkers and relatives. The victim's coworker recognized the classic scam indicators and warned her, eventually discovering that the victim had already sent the scammer $50-500 in smaller amounts over six months before the relationship ended when she couldn't provide the larger sum. The victim eventually acknowledged the scam after the "boyfriend" ghosted her when she proved unable to obtain the money.
crowdfundinsider.com
· 2025-12-08
In 2024, cryptocurrency scams generated a record $12.4 billion in fraudulent revenue, with "pig butchering" romance and investment scams accounting for 33% of that total. Artificial intelligence has enabled scammers to operate at unprecedented scale through deepfakes, voice cloning, and automated phishing, with AI service vendors on illicit marketplaces earning $18 million alone. The U.S. Treasury sanctioned Philippines-based Funnull Technology Inc. in May 2025 for facilitating scams that defrauded American victims of over $200 million by providing infrastructure to cybercriminals.
the420.in
· 2025-12-08
A 46-year-old MBA graduate in India lost ₹11 crore (approximately $1.3 million USD) over three months in a sophisticated online job scam, reported as one of India's largest cyber frauds. Fraudsters created a fake website impersonating an international consultancy firm and convinced the victim he was hired for an executive position, then extracted money through fake onboarding fees, documentation charges, and purported investment plans before disappearing with funds transferred to crypto wallets and offshore accounts. Authorities suspect this may be part of a larger fraud operation and are urging the public to verify online job offers and avoid upfront payments.
commercialappeal.com
· 2025-12-08
The "Mystery Shopper" scam is resurfacing, targeting job seekers with offers to earn hundreds of dollars weekly by evaluating retail experiences. Victims receive official-looking checks and are instructed to purchase money cards, photograph them, and send the images to scammers, who then drain the funds after the check bounces, leaving victims thousands of dollars in loss. The BBB and FTC advise avoiding job offers promising high guaranteed pay, requiring upfront payments, or involving depositing checks and sending money elsewhere, and recommend researching companies online and consulting trusted contacts before accepting any job offer.
whio.com
· 2025-12-08
This article explores the legal landscape of scams and fraud, explaining that while scamming is generally illegal, some deceptive practices exist in legal gray areas by technically offering a service or relying on consumer awareness. The article discusses how scammers exploit loopholes—such as with carnival games and deceptive solicitations (like fake domain renewal notices)—by staying vague about their offerings and not explicitly making false promises, allowing them to operate despite feeling fraudulent to consumers. The key takeaway is that scamming tactics are increasingly sophisticated and difficult to distinguish from legitimate services, making consumer vigilance essential.
law.georgia.gov
· 2025-12-08
During May 2025's Older Americans Month, Georgia's Attorney General Consumer Protection Division reached over 1,300 seniors to educate them on recognizing, preventing, and reporting financial abuse and exploitation. The division highlighted common scams targeting older adults—including government imposter schemes, investment/cryptocurrency fraud, and romance scams—and provided resources such as their free "Georgia Consumer Protection Guide for Older Adults" (available in English, Spanish, and Korean) along with reporting contacts for suspected financial abuse.
govinfosecurity.com
· 2025-12-08
The U.S. Treasury sanctioned Philippine-based Funnull Technology and its administrator Liu Lizhi for operating as a content delivery network that powered romance scam websites, using trafficked workers to deceive victims into fake investments. The FBI identified over 332,000 domains linked to Funnull infrastructure, which caused an estimated $200 million in losses to U.S. victims (averaging $150,000 per person), with global romance scam losses reaching $4.4 billion. The company supplied bulk IP addresses, website templates, and algorithmically-generated domain names to scammers, enabling them to rapidly create resilient scam networks difficult to take down.
moneysense.ca
· 2025-12-08
Relationship fraud and romance scams are increasing in Canada, typically beginning when scammers contact victims on social media, dating apps, or email, then gradually build trust over months before requesting money or promoting fraudulent investment schemes, often involving cryptocurrency. Victims suffer not only financial losses but also emotional trauma from the betrayal, and scammers may use harvested personal information for identity theft. Key warning signs include pressure and urgency in requests, and protection strategies include verifying requests with trusted individuals and being cautious of AI-generated personas.
whio.com
· 2025-12-08
This educational article explains how to identify fake social media profiles used by scammers on platforms like Facebook, Instagram, and Tinder. Key warning signs include fake or AI-generated profile pictures (verify with reverse image search), brand-new accounts with unusual activity patterns, generic or automated posting behavior, and follower lists consisting of random unconnected accounts. The article advises online users to maintain skepticism about profiles they encounter and check for these indicators before engaging with unfamiliar accounts.
oprahdaily.com
· 2025-12-08
Scams targeting consumers are rising dramatically, with phishing, deepfakes, tech-support scams, and spoofing becoming increasingly common. Readers shared varied experiences including fraudulent tax and loan collection calls, fake rental listings, phishing texts posing as delivery services and financial institutions, and sextortion emails with personal information. The advice emphasized by victims includes not answering unknown numbers, immediately deleting suspicious messages, verifying requests independently, and never providing personal information or upfront payments to unverified sources.
investopedia.com
· 2025-12-08
This educational article outlines common cryptocurrency scams and protection strategies. According to the FBI, crypto fraud losses surged 45% year-over-year to $5.6 billion in 2023 based on 69,000 complaints, with scams ranging from phishing attacks to fake ICOs and rug pulls. The article advises crypto investors to verify website URLs, enable two-factor authentication, and remain vigilant about suspicious links and messages to protect their digital assets.
finance.yahoo.com
· 2025-12-08
The U.S. Treasury sanctioned Funnull, a Philippines-based company run by Chinese national Liu Lizhi, for providing infrastructure to cybercriminals operating "pig butchering" crypto investment scams that defrauded American victims of approximately $200 million, with an average loss of $150,000 per victim. Funnull generated fraudulent domain names and website templates to help scammers impersonate legitimate brands, and also conducted the Polyfill supply chain attack to redirect website visitors to malicious gambling and scam sites. These services enabled criminals to quickly evade detection by switching domains and IP addresses when legitimate providers attempted to shut down their operations.
okcfox.com
· 2025-12-08
This editorial discusses the evolution and pervasiveness of fraud from ancient times to 2024, noting that the FBI received 859,532 online crime complaints in 2024 with losses exceeding $16 billion—a 33% increase from the prior year. The article highlights emerging threats including cryptocurrency fraud ($24.2 billion in illicit transfers in 2023), AI-powered deepfakes (which surged 1,740% in North America between 2022-2023, with one incident targeting a Hong Kong firm for $25 million), and voice-cloning scams targeting individuals through fake calls from loved ones. Williams emphasizes that fraud affects all demographics—not just the
cointelegraph.com
· 2025-12-08
Seniors are increasingly targeted in cryptocurrency scams because scammers view them as wealthy, trusting, and less technologically savvy, exploiting the irreversible nature of crypto transactions and victims' reluctance to report fraud. The FTC reports growing losses from crypto investment fraud, romance scams, and government impersonation, with seniors in Beaufort County, South Carolina alone losing over $3.1 million in 2024, while sophisticated schemes using AI voice cloning and fake websites are becoming more prevalent. Examples include British pensioners losing hundreds of thousands to romance fraud operations in Cambodia, Minnesota crypto ATM scams that cost over $189 million in 2023, and government impersonation
ibsintelligence.com
· 2025-12-08
UK fraud losses remained at £1.17 billion in 2024, with 70% of authorised push payment fraud cases originating online through social media and messaging platforms. Investment and romance scams are surging despite fewer reported cases, with victims often losing life savings to sophisticated social engineering tactics that bypass bank warnings. Experts warn that fraudsters are evolving tactics—particularly toward remote purchase fraud—and call for a unified national strategy involving banks, law enforcement, and technology providers to address fraud, which now represents 40% of all UK crime.
the420.in
· 2025-12-08
In 2024, the UK experienced £12,332 crore in reported fraud losses, with banks blocking even greater unauthorized attempts, yet emerging threats like remote access scams, social engineering, and platform-enabled fraud continue to outpace defenses. Seventy percent of authorized push payment scams originated online, while investment fraud and romance scams increasingly target victims through social media and polished digital ads, often exploiting emotional manipulation or false financial promises. Experts warn that fraud now represents 40% of all UK crime, yet the fragmented regulatory approach places disproportionate responsibility on banks rather than holding tech platforms, telcos, and other enablers accountable, necessitating a unified national strategy
moneyweek.com
· 2025-12-08
In 2024, fraudsters stole £144.4 million through investment fraud in the UK—a 34% increase from 2023—despite a 24% reduction in the number of cases, indicating victims are losing larger amounts per scam. Investment fraud involves criminals convincing victims to invest in fictitious funds or fake opportunities (cryptocurrencies, property, commodities, etc.), often amplified through AI deepfaking on social media. Overall UK fraud losses reached £1.17 billion across 3.31 million confirmed cases in 2024, with unauthorised fraud (particularly card fraud and remote purchase fraud) being the most prevalent type.
blog.google
· 2025-12-08
Google's threat advisory identifies four evolving scam trends in 2024: customer support scams using fake phone numbers and social engineering, malvertising targeting sophisticated users with valuable assets like crypto wallets, fake travel websites exploiting vacation bookings with counterfeit hotel sites, and package tracking scams impersonating delivery companies to collect fraudulent fees. The advisory comes as global fraud losses reached $1 trillion in 2024 and U.S. fraud reports increased 25% year-over-year, highlighting scammers' ability to evolve tactics and exploit user vulnerabilities despite growing awareness.
finance.yahoo.com
· 2025-12-08
This educational article explains how to identify common personal finance scams by describing warning signs in simple terms. Key red flags include scammers using high-pressure tactics to rush decisions, making unrealistic offers that seem too good to be true, and requesting payment through gift cards or cryptocurrency—methods legitimate companies never use.
wtap.com
· 2025-12-08
The Parkersburg Police Department reported a significant rise in bitcoin scams using tactics such as phishing, romance scams, and fake law enforcement threats claiming outstanding warrants. Once victims send money to bitcoin machines, the funds are transferred overseas to criminals with no possibility of recovery. The department advises against sharing financial information with unknown contacts, investing based on online advice, and emphasizes that legitimate law enforcement will never request bitcoin payments for fines.
wgauradio.com
· 2025-12-08
Social engineering and AI-powered fraud are recognized as major cybersecurity threats in 2025, with scammers increasingly using deepfakes, hyper-personalized phishing, and automation to deceive victims at scale. Adults 60 and older reported the highest losses in 2024 at over $4.8 billion (up 43% from 2023), particularly falling victim to phishing/spoofing and tech support scams, while investment fraud caused $6.57 billion and cryptocurrency fraud reached $9.3 billion in total losses. The article emphasizes that while classic scam methods like phishing and business email compromise remain dominant, AI technology is making
wsoctv.com
· 2025-12-08
Social engineering and AI-powered fraud are among the top cybersecurity threats of 2025, with scammers now using deepfakes, hyper-personalized phishing, and AI automation to make deception more convincing and targeted than ever. Adults aged 60 and older reported the highest losses in 2024 at over $4.8 billion (up 43% from 2023), with phishing/spoofing and tech support scams hitting this demographic hardest, while investment fraud alone caused $6.57 billion in losses and cryptocurrency fraud reached $9.3 billion. To protect against these evolving threats, individuals and organizations should employ straightforward defense strategies including
dailyhodl.com
· 2025-12-08
Scammers targeting senior citizens on Long Island impersonated banks to convince victims their accounts were compromised, then fraudulently obtained their debit and credit cards and PINs before stealing money from ATMs. Suffolk County police advised seniors to avoid answering unknown calls, never provide personal information or PINs to callers, and to independently verify any account security claims by calling the number on the back of their card.
dailyhodl.com
· 2025-12-08
A college student lost $5,050 in life savings to scammers who impersonated Bank of America employees via text and phone call, convincing her to authorize a wire transfer. Bank of America refused to reimburse the victim, citing federal law that limits reimbursement to unauthorized transactions, though the victim had authorized the payment under false pretenses. The bank stated that recovery attempts from the receiving bank were unsuccessful as the funds had already been moved.
boston25news.com
· 2025-12-08
Eight individuals with ties to China have been indicted for operating a transnational elder fraud scheme that victimized approximately 300 seniors across at least 37 states and Canada, with confirmed losses exceeding $5 million and suspected laundered funds totaling around $16 million. The scammers used fake pop-up messages impersonating technology companies and government agencies to trick elderly victims into transferring funds via wire transfers, cryptocurrency, or cash purchases of gold bars to accounts controlled by the fraudsters. Fangzheng Wang, a 24-year-old Chinese national in Massachusetts, was among the eight defendants arrested and charged with conspiracy to commit wire fraud and related offenses.
journee-mondiale.com
· 2025-12-08
Seniors lost $3.4 billion to financial scams in 2023, with projections approaching $5 billion by 2025, as scammers increasingly employ AI-powered tactics including voice cloning and deepfakes to impersonate family members and financial advisors. Criminal schemes now commonly target vulnerable retirees through urgent money transfer requests, fake family emergencies, and cryptocurrency demands that are nearly impossible to recover. Protective measures include establishing trusted family financial guardians, recognizing red flags such as pressure for secrecy and unrealistic investment promises, and maintaining regular communication with seniors to prevent exploitation.
yahoo.com
· 2025-12-08
Eight individuals with ties to China, including 24-year-old Fangzheng Wang of Massachusetts, were indicted in a transnational elder fraud scheme that victimized approximately 300 people across at least 37 U.S. and Canadian states. The conspiracy used pop-up messages impersonating technology companies and government agencies (FTC, Federal Reserve) to convince seniors their financial accounts were compromised, then persuaded victims to transfer funds via wire, cryptocurrency, or cash to accounts controlled by the scammers, resulting in confirmed losses exceeding $5 million with an additional $16 million in suspected laundered funds identified. All eight defendants have been arrested and remain in federal custody
nbcboston.com
· 2025-12-08
Massachusetts' Office of Consumer Affairs and Business Regulations is conducting community education events to alert residents about increasingly common scams, noting that older Americans lost nearly $5 billion to fraud last year. Common fraud tactics include tech support, romance, and cryptocurrency scams, with advice to residents including changing passwords frequently, using two-factor authentication, avoiding calls from unknown numbers, and never sharing personal information with unsolicited callers. The state emphasizes that fraud affects all demographics and encourages residents to report scams or seek guidance through their consumer hotline at 617-973-8787.
mb.com.ph
· 2025-12-08
Meta platforms (Instagram and Facebook) are experiencing a surge in scams operated by fraud rings in China, Sri Lanka, Vietnam, and the Philippines, with internal Meta analysis showing 70 percent of newly active advertisers promoting scams or low-quality products. Despite recognizing the problem, Meta has deprioritized scam enforcement, allowing repeat offenders to accumulate violations before facing consequences. Common scam tactics include phishing, fake giveaways, investment/crypto schemes, romance scams, fake job offers, and sextortion, which exploit urgency and emotional manipulation to deceive users.
journalnews.com.ph
· 2025-12-08
Meta platforms Instagram and Facebook are experiencing a surge in scams operated by international fraud rings from China, Sri Lanka, Vietnam, and the Philippines, with an internal Meta analysis revealing that 70% of newly active advertisers promote scams or low-quality products. Common scam tactics include phishing, fake giveaways, investment schemes, romance scams, fraudulent job offers, and sextortion, which exploit urgency and emotional manipulation to deceive users. Despite recognizing the problem, Meta has deprioritized scam enforcement, allowing repeat offenders to accumulate multiple violations before facing consequences.
techbullion.com
· 2025-12-08
Cryptocurrency losses totaling millions of dollars annually occur through investment scams, romance scams, phishing attacks, exchange hacks, and accidental transfers, with blockchain's immutable nature making recovery extremely difficult. Tawny Swift Ltd has positioned itself as a specialized cryptocurrency recovery service in the United States, utilizing advanced blockchain analytics, forensic techniques, and data-driven investigations to trace and potentially recover lost digital assets. The firm's focus exclusively on crypto recovery and commitment to modernizing its tools and strategies distinguishes it in addressing a growing crisis that exceeds conventional law enforcement capabilities.
investopedia.com
· 2025-12-08
Americans lost an estimated $47 billion to scams in 2024, with investment fraud accounting for at least $5.7 billion of those losses. Contrary to common assumptions, younger adults are 34% more likely than older adults to fall victim to fraud, which takes multiple forms including impostor scams using AI voice cloning, lottery/prize schemes, and phishing attempts. To protect yourself, watch for red flags such as unsolicited contact, pressure to act quickly, promises of guaranteed returns, unusual payment requests, and demands for login credentials—and always independently verify investment opportunities through official resources like the SEC's EDGAR database before committing funds.
timesofindia.indiatimes.com
· 2025-12-08
Fraudsters in India are employing increasingly sophisticated tactics—including AI-powered targeting—to deceive people across all age groups, with scams ranging from fake job offers and digital arrest threats to fraudulent investment schemes and fake KYC updates. Between January and May 2024, approximately 9.5 lakh cybercrime complaints were registered in India, with citizens losing approximately Rs 1,750 crore during this period. The article outlines 10 common scam methods including TRAI impersonation, fake digital arrests, false family member arrest schemes, fraudulent stock trading, customs scams, and fake credit card transactions, emphasizing the importance of verification and caution before sharing
cryptopolitan.com
· 2025-12-08
Dennis Nguyen, an Australian banker, was sentenced to 18 months imprisonment after stealing AUD 489,000 from customers across multiple banks between 2021 and 2022. After losing AUD 20,000 to a crypto scam himself, Nguyen used his banking knowledge to execute sophisticated fraud schemes, including stealing customer data to create fake accounts, impersonating a bank manager online, and deliberately targeting vulnerable customers including one with multiple sclerosis. He pleaded guilty to four counts of fraud and three counts of theft, with banks reimbursing most victims during investigation.
npr.org
· 2025-12-08
This NPR Planet Money episode explores "pig-butchering" romance scams, where scammers use fake text messages and romantic engagement to gradually manipulate victims into cryptocurrency investments before stealing their money. Journalist Zeke Faux deliberately engaged with a scammer named Vicky Ho to investigate connections between these scams and the cryptocurrency Tether, discovering how criminals use the platform to launder money and defraud victims of potentially millions of dollars.
thereporterethiopia.com
· 2025-12-08
Hundreds of thousands of people, particularly Ethiopians seeking employment, have been trafficked to Myanmar's rebel-controlled territories through fake job offers in IT and hospitality, where they are forced to participate in online fraud schemes (cryptocurrency scams, romance scams, identity theft) under threat of violence and torture. One victim, 27-year-old IT graduate Yosef Atirsaw, was held captive for months posing as a female model to lure victims into pyramid schemes, witnessing brutal abuse including lashings and forced labor. As of December, an estimated 3,000 Ethiopians were reported trapped in these scam centers, though diplomatic efforts have secured the release of
wjla.com
· 2025-12-08
U.S. Attorney Jenine Pirro warned of rising cryptocurrency scams in which fraudsters contact victims via texts, dating apps, or investment groups, then direct them to fake investment platforms mimicking legitimate exchanges. Scammers convince victims to transfer bank funds into these fake accounts, initially showing false profits to encourage larger deposits before locking victims out and stealing all funds; officials recovered $868,247 from one such scheme through the FBI and Computer Crime Section. Victims of cryptocurrency, romance, or investment scams can report to the FBI's Internet Crime Complaint Center.
yahoo.com
· 2025-12-08
**Summary:**
Tennesseans lost more than $23 million to investment scams in the first quarter of 2025, with cryptocurrency scams showing dramatic growth over the past 12 months, according to the Federal Trade Commission and Better Business Bureau. While older adults remain frequent targets, younger adults are increasingly falling victim to these schemes, which typically promise quick returns on small investments of a couple thousand dollars with an average loss of about $5,000 per victim. The BBB emphasizes reporting these scams to help prevent future victimization and to assist government agencies in combating fraud.
shorelinemedia.net
· 2025-12-08
Law enforcement in Michigan warns that scammers use urgency and secrecy to target victims, particularly seniors, requesting payment via hard-to-trace methods like gift cards and cryptocurrency. Common tactics include impersonating government agencies, using AI-generated calls, posing as family members or romantic interests on social media, and demanding payment for fictitious warrants or debts. Authorities advise victims to immediately freeze accounts, file police reports, avoid clicking suspicious links, verify caller identities through independent searches, and remember that legitimate businesses and government agencies never request payment via gift cards.
pnj.com
· 2025-12-08
Floridians have received fraudulent text messages claiming to be from the Florida Department of Motor Vehicles threatening enforcement penalties for unpaid traffic citations and requesting payment via a link. The scam, which references a real but unrelated Florida administrative code, uses high-pressure tactics and has also been reported in other states; recipients should report it to the Federal Trade Commission and contact FLHSMV directly through trusted channels if they have concerns about legitimate violations.
justice.gov
· 2025-12-08
U.S. authorities seized over $868,247 in cryptocurrency from perpetrators of a confidence scheme in which criminals posed as investment advisors through text messages, dating apps, and professional groups to gain victims' trust and direct them to fake investment platforms. The scheme involved criminals encouraging victims to transfer bank funds to cryptocurrency accounts and then to fraudulent platforms that displayed false profits while routing all deposits to perpetrator-controlled wallets, ultimately locking victims out and stealing their funds. The FBI Honolulu Field Office investigated the case with assistance from the Department of Justice and cryptocurrency platform Tether.
ice.gov
· 2025-12-08
Eight individuals with ties to China were indicted for orchestrating a transnational elder fraud scheme that defrauded approximately 300 victims across at least 37 states and Canada, with confirmed losses exceeding $5 million and an additional $16 million in suspected laundered funds. The scheme involved sending fake pop-up messages to seniors' computers impersonating technology companies and government agencies, then convincing victims to transfer funds via wire, cryptocurrency, or cash to protect their assets from alleged fraud or criminal investigations. Victims were also deceived into purchasing gold bars and handing them over to purported government couriers.
states.aarp.org
· 2025-12-08
Illinois state representatives are preparing to vote on SB 2319, the Digital Asset Kiosk Act, which would establish protections against cryptocurrency ATM fraud. In 2024, crypto scams resulted in $5.7 billion in losses nationally, with adults in their 60s accounting for $1.18 billion of that theft; the proposed legislation would implement registration requirements, disclosures, and transaction limits to safeguard consumers from these schemes.
mirror.co.uk
· 2025-12-08
A 44-year-old disabled woman from Staffordshire lost £11,000 to a romance scammer who impersonated Australian TV vet Dr Chris Brown on Instagram, extracting money over 18 months through love bombing, fake proposals, and cryptocurrency transfers funded partly from her disability allowance. The scammer convinced her to send funds for flights and visas, with the largest single payment being £7,000, before she recognized red flags in January 2025 and reported the case to West Midlands Police and Action Fraud. Lisa Nock shared her story publicly to warn vulnerable people, noting she never received a phone or video call from the fraudster and had sacrificed social activities and lessons
dfpi.ca.gov
· 2025-12-08
Scammers increasingly target older adults through technology-based fraud schemes, exploiting their perceived financial stability, trusting nature, and potential unfamiliarity with digital threats. Common scams include phishing/smishing/vishing (deceptive emails, texts, and calls), skimming and shimming (card data theft at terminals), tech support scams (fake computer virus alerts), and grandparent scams (impersonation of family members). Protection strategies include ignoring unsolicited contacts, enabling spam filters, inspecting payment terminals for tampering, using contactless payments, and never granting remote computer access to unknown parties.