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theverge.com
· 2025-12-08
Shan Hanes, former CEO of Heartland Tri-State Bank in Kansas, was sentenced to 24 years in prison after embezzling $47.1 million from the bank and routing it to cryptocurrency accounts controlled by pig butchering scammers. Between May and June 2023, Hanes made 11 wire transfers using stolen bank funds while also embezzling from a local church, investment club, and his daughter's college savings account, ultimately causing the bank to collapse. Pig butchering scams, which lure victims into fake cryptocurrency investments through relationship-building on messaging apps and social media, have cost victims over $75 billion globally in recent years
techtimes.com
· 2025-12-08
Shan Hanes, former CEO of Heartland Tri-State Bank, fell victim to a pig-butchering cryptocurrency scam and subsequently embezzled $47 million from the bank to fund fraudulent "investments," resulting in the bank's collapse and his conviction on embezzlement charges. Before stealing from the bank, Hanes had already victimized a local church, investor club, his daughter's college fund, and a neighbor in attempts to feed the scam. He received a 24-year prison sentence after pleading guilty to embezzlement.
androidauthority.com
· 2025-12-08
Phone scams are increasingly sophisticated and cost US consumers $2.7 billion in reported losses in 2023 alone, with numbers rising annually. The article identifies 12 common phone and text scams including the "loved one in need" (grandparent scam), government impersonation (FBI/IRS), and other fraudulent schemes that exploit emotional pressure and official-sounding tactics. Key prevention strategies include verifying caller identity through alternative contact methods, refusing to send money to unknown callers, and being skeptical of urgent payment demands, especially via wire transfers or gift cards.
timesofindia.indiatimes.com
· 2025-12-08
Men in Mumbai have been targeted in a organized dating app scam where women lure victims to expensive nightclubs via platforms like Tinder and Bumble, resulting in bills ranging from ₹23,000 to ₹61,000; the women allegedly receive 15-20% commissions, suggesting involvement of nightclub management. At least 10 men reportedly fall victim daily at single venues like the Godfather Club in Andheri West, with similar incidents reported across Delhi, Bengaluru, Hyderabad, and other major Indian cities, including one case involving a ₹1.2 lakh bill. Mumbai Police have launched an investigation into the suspecte
govtech.com
· 2025-12-08
From January to May 2024, online fraud resulted in $1.6 billion in losses—nearly $300 million more than the same period in 2023, according to FBI Internet Crime Complaint Center data. Common scams include advance fee schemes, Nigerian letter schemes, Ponzi and pyramid schemes, telemarketing fraud, fake travel websites, and fraudulent debt collector calls using spoofed numbers and fake websites. The FBI advises victims and the public to be skeptical of unsolicited offers with artificial urgency, verify requests independently, and report suspected fraud.
aa.com.tr
· 2025-12-08
Scammers are using AI-generated deepfake videos of celebrities like Elon Musk, Donald Trump, and Jeff Bezos to defraud people, particularly elderly individuals with limited cybersecurity knowledge, by luring them into fake investment schemes promising quick returns on non-existent companies. Victims have lost substantial sums, including an 82-year-old retiree who lost most of his investments in 2023, while the technology has also been misused to impersonate real professionals like doctors to steal account information. YouTube and Facebook have removed millions of fraudulent channels and videos, though experts warn that as deepfake technology improves and becomes more convincing, organized crime groups will
mortgagebusiness.com.au
· 2025-12-08
Between January and June 2024, Scamwatch received 143,113 reports and documented over $139 million in losses, with people aged 55 and over accounting for 48.7 percent of losses despite representing only a portion of reports. A key finding shows that 30 percent of people do not report serious scams, and social media scams cost Australians $80.2 million in the previous year, with common tactics including fake accounts, fraudulent investment opportunities, and requests for personal information. Banks emphasize the importance of reporting scams and sharing awareness to collectively prevent fraud, particularly targeting vulnerable populations including older adults, non-English speakers, and people with
unisa.edu.au
· 2025-12-08
During Australia's Scams Awareness Week 2024, UniSA expert Dr. Braam Lowies highlighted that despite a 13% drop in scam losses, Australians lost $2.7 billion to scams in 2023, with older people over 65 suffering disproportionately—losing $120 million (a 13.3% increase). Investment scams, romance scams, and remote access scams remain prevalent, with investment scams causing the most harm, while scammers exploit psychological tactics and target older adults' retirement savings, often exacerbated by limited digital literacy and cyber security awareness. The campaign emphasized the importance of sharing scam
theadviser.com.au
· 2025-12-08
Scam Awareness Week 2024 (August 26–30) launched in Australia with the theme "share a story, stop a scam" as part of a broader effort by the National Anti-Scam Centre to equip consumers and businesses with scam prevention tools. In the first half of 2024, over 143,000 scams were reported, resulting in losses up to $134 million, prompting warnings from regulators like ASIC, which found that smaller lenders have "less mature" scam prevention strategies compared to Australia's major banks. Financial institutions are responding with new initiatives including enhanced identity checks, victim support improvements, and community education programs to combat increasing frau
timesofindia.indiatimes.com
· 2025-12-08
A 65-year-old retired employee from Chinchwad, Pune lost Rs21.5 lakh to an online share trading scam between May and July 2024. After being contacted on social media and added to a messenger group, he was deceived by a woman claiming to be a company executive who provided trading tips and requested funds for shares and a personal loan, before removing him from the group in August. The victim filed a police complaint with Nigdi police after realizing the fraud.
therecord.media
· 2025-12-08
Cybercriminals have expanded text message scams impersonating state electronic toll collection systems across multiple U.S. states (Illinois, Florida, North Carolina, and Washington), with the FBI reporting over 2,000 complaints since early March. The scams use fake government websites and urgent messaging to trick drivers into clicking links and entering personal and financial information, with some scammers also collecting data for additional criminal activities. Symantec researchers recommend state governments increase public awareness campaigns and coordinate with federal agencies to combat these threats, which have also affected Australia, Canada, and Japan.
newstalk940.com
· 2025-12-08
The FBI has identified five major scams targeting Texans: phishing emails mimicking banks to steal personal information, romance scams involving fake dating profiles that request money, lottery/sweepstakes scams requiring upfront fees to claim winnings, tech support scams requesting remote computer access, and IRS/government impersonation scams threatening legal action for immediate payment. The article advises Texans to be cautious of unsolicited requests for money or personal information and to trust their instincts when something seems suspicious.
kwqc.com
· 2025-12-08
The Coalition Against Financial Crime is hosting a scam awareness event on September 12 in Bettendorf, Iowa to educate financial institutions, law enforcement, and businesses about evolving fraud tactics. Common scams discussed include romance scams, check fraud, work-from-home schemes, and back-to-school scams, with experts advising the public to slow down before making financial decisions and learn to verify information to avoid victimization.
abilene-rc.com
· 2025-12-08
Detective Kevin Landers of the Abilene Police Department outlines common scams targeting seniors, including romance, lottery, sweepstakes, and government impersonation schemes where callers demand payment via gift cards or bitcoin. Seniors are frequently targeted because they tend to be trusting, have savings, own homes, and maintain good credit, though scammers prey on people of all ages. Landers recommends protecting oneself by verifying unsolicited offers online, resisting pressure to act quickly, monitoring credit reports annually, and stopping communication with suspected scammers immediately.
thesenior.com.au
· 2025-12-08
Computer Pals, a 25-year-old NSW-based organization, highlights the digital challenges faced by tech-inexperienced seniors, including vulnerability to AI-enabled scams and difficulty managing finances online. The group offers low-cost technology training to seniors and emphasizes the importance of digital literacy, particularly for those who have recently lost partners and lack basic computer skills; they encourage Generation X members to become instructors to help address the aging membership base.
au.finance.yahoo.com
· 2025-12-08
A 68-year-old NAB customer lost $10,000 after scammers impersonating Microsoft gained remote access to his computer and convinced him they needed his help catching fraudsters at his bank. A vigilant NAB fraud analyst detected the suspicious transaction and helped recover the full amount after the customer disconnected immediately. The incident highlights the sophistication of remote access scams, which have cost Australians over $4.7 million this year as part of $134 million in total scam losses.
lowyat.net
· 2025-12-08
Former Heartland Tri-State Bank CEO Shan Hanes was sentenced to 24 years in prison for illegally wiring $47.1 million from the bank in a "pig butchering" cryptocurrency scam, ultimately causing the bank's collapse. The scheme harmed multiple victims including church funds, investment clubs, and children's college savings, resulting in $9 million in losses for bank investors and forcing the FDIC to absorb the $47 million loss. Hanes faces an additional 28 charges in North Dakota with a potential 86-month sentence scheduled for trial in October.
foxnews.com
· 2025-12-08
Moving scams are prevalent, with the Better Business Bureau receiving 5,918 complaints against moving companies in 2023, and victims losing a median of $350. Common scams include stolen belongings, false quotes with inflated prices on moving day, non-refundable deposits where movers never appear, hostage loads where movers refuse to unload until additional payment is made, and unexpected charges for labor or supplies. To protect yourself, research companies using the FMCSA database and BBB, verify they have a physical address and U.S. DOT number, obtain multiple in-home estimates, keep detailed written documentation, use credit cards for payment, and supervise the move while using
wcnc.com
· 2025-12-08
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abcactionnews.com
· 2025-12-08
The FBI and Sarasota County Sheriff's Office warned of an increase in sophisticated scams targeting senior citizens in which fraudsters impersonate tech support or government officials, convince victims to liquidate assets into cash or precious metals, and then dispatch couriers to collect the money before disappearing. Victims have reported losses exceeding $300,000, and authorities recommend hanging up on scammers, avoiding suspicious links, and reporting incidents to law enforcement immediately.
prnewswire.com
· 2025-12-08
Brookdale Senior Living released educational guidance on protecting seniors from fraud, noting that crimes against seniors totaled over $3.4 billion in losses in 2023, with more than 100,000 complaints filed by people over 60—an 11% increase from the previous year. The article identifies common scam types including tech support scams, romance scams, investment schemes, and non-payment fraud, advising seniors to recognize red flags such as urgent demands for payment, requests for wire transfers or cryptocurrency, and threats from authorities. Resources provided include awareness information at Brookdale.com and the National Elder Fraud Hotline (833-372-8311) for reporting suspecte
wa.gov.au
· 2025-12-08
Two Western Australian victims lost over $1.4 million combined to romance scammers in recent weeks, with one victim transferring $825,000 for relocation costs and another losing at least $600,000 to a fake cryptocurrency investment scheme. The scammers employed multiple tactics including coaching victims to evade bank questions, using deepfake AI technology to manipulate video calls, and dragging victims into secondary scams as money mules and fake recovery schemes. Western Australia has recorded $2.9 million in losses across 26 romance scam victims in 2024, prompting authorities to warn people never to transfer money to online-only contacts and to be wary of love interests unw
smartcompany.com.au
· 2025-12-08
In 2023, Australians lost $2.74 billion to scams, with small businesses facing particular risk from phishing, compromised email accounts, false billing, supply scams, and overpayment schemes. ASIC reported removing approximately 20 scam sites daily, highlighting the scale and sophistication of fraud targeting Australian businesses. Key protective measures include verifying email legitimacy, double-checking payment requests, maintaining updated software, training employees to recognize suspicious activity, monitoring online presence, and implementing strong password policies.
miragenews.com
· 2025-12-08
This awareness piece highlights sophisticated investment scams targeting Australians, particularly "pig butchering" schemes where scammers build trust over weeks or months before soliciting cryptocurrency investments. A Queensland victim lost approximately $244,000 AUD after being befriended on Facebook by a scammer who gradually encouraged increasingly larger investments in cryptocurrency, promising substantial returns; when the victim attempted to withdraw funds, the scammer blocked all contact. Recent data from the AFP-led Joint Policing Cybercrime Coordination Centre shows Australians lost at least $180 million to cryptocurrency investment scams in 12 months, with nearly half of all investment scam losses involving cryptocurrency and victims now more likely
au.finance.yahoo.com
· 2025-12-08
Perth widow Maggie Ayres lost tens of thousands of dollars in a romance scam involving a man named "Bryan" who used deepfake technology to impersonate an American real estate agent on video calls and claimed to work on an oil rig. Ayres discovered the fraud when a technical glitch revealed the scammer's actual face during a video call, and authorities report that deepfake-enabled romance scams have affected multiple Western Australian victims, with the state losing $3.7 million to romance fraud in 2023 and $2.9 million already by mid-2024.
abc.net.au
· 2025-12-08
West Australian authorities have warned of romance scams using AI-generated deepfake technology in video calls, with 26 victims losing $2.9 million to such scams in the current year. One victim, Maggie Ayres, transferred tens of thousands of dollars to a scammer posing as "Bryan" before discovering during a video call that deepfake technology was being used to disguise the perpetrator's identity. State Commerce Minister Sue Ellery urged people to never transfer money to individuals they haven't met in person and to report suspicious online activity to authorities.
abc.net.au
· 2025-12-08
Amy lost $16,000 from her ubank account after falling victim to a common scam where fraudsters impersonated bank staff, obtained her security details via a fake verification process, and authorized push payments to steal her savings; only $7 was recovered. Neobanks and digital banking platforms create vulnerability to fraud through instant payments to new accounts, limited customer service accessibility, and the difficulty in detecting and recovering funds once scammers move money overseas or to cryptocurrency platforms. The National Anti-Scam Centre reported ubank appeared in at least 490 complaints in the prior year with total losses exceeding $500,000.
friendlywifi.com
· 2025-12-08
Deepfake scams use AI-generated voice cloning to impersonate relatives, bank officials, and others to manipulate victims into sending money or revealing sensitive information. Warning signs include unsolicited calls about emergencies, distorted voices with long pauses, unusual speech patterns, and high-pressure tactics. To protect yourself, verify caller identity through security questions or callback on known numbers, and never transfer funds without confirming the recipient's authenticity through independent verification.
lawfaremedia.org
· 2025-12-08
National Public Data, a data broker, was hacked by a group calling itself "USDoD," resulting in the theft and public posting of 2.9 billion records containing names, Social Security numbers, dates of birth, addresses, family member names, and phone numbers affecting hundreds of millions of people in the U.S., Canada, and the U.K. The breach highlights four critical lessons: data brokers are incentivized to collect ever-expanding datasets for profit, large-scale data aggregation creates compounded privacy and national security risks, the data brokerage industry remains largely unregulated despite recent legislative discussions, and regulatory enforcement alone cannot adequately address the systemic problem of privacy-invasive
zeenews.india.com
· 2025-12-08
Dating app scams are increasingly common due to anonymity, rising platform usage, and scammers' ability to exploit users' emotional vulnerability when seeking companionship. Red flags include overly perfect profiles, story inconsistencies, reluctance to meet in person, requests for money, and use of stock photos; common scam types include fake emergencies, phishing, investment fraud, and blackmail schemes. Users can protect themselves by verifying profiles through reverse image searches, meeting only in public places, guarding personal information, and reporting suspicious activity.
ferntreegully.mailcommunity.com.au
· 2025-12-08
During Australia's Scam Awareness Week (August 26-30), authorities highlighted the escalating threat of online scams affecting communities nationwide, including fake missing child posts circulating in social media groups. In 2023, Australians reported over 601,000 scams with losses for people over 65 reaching $120 million (a 13.3% increase), with investment scams, remote access scams, and romance scams causing the most harm; scam calls resulted in the highest reported losses at $116 million. Experts emphasize that victims often experience shame and isolation, and recommend community awareness-sharing, trusted support networks, and mental health services to help
abc7.com
· 2025-12-08
Actress Tamlyn Tomita and her husband Daniel Blinkoff lost approximately $500,000 to a business email compromise scam in which fraudsters impersonated their theater contractor through spoofed emails with subtle address variations, causing their bank to freeze their account and delay construction of their Outside In Theatre project. The FBI reported that similar scams generated over 21,000 complaints and nearly $3 billion in losses across the Los Angeles area last year, with attackers often operating internationally and using social media research to target victims. Despite the setback, the couple plans to proceed with opening the theater on schedule while working with their bank to recover funds.
komando.com
· 2025-12-08
Americans over age 60 lost $3.4 billion to fraud schemes in 2023, an 11% increase from the previous year, with tech support scams being the most commonly reported type and investment scams causing the highest losses at $1.2 billion. Seniors are targeted because they typically have larger nest eggs and assets, and roughly 68% of elder fraud cases begin with personal information leaked online, with underreporting being a significant issue as many victims do not report incidents due to shame or uncertainty about how to report. Common scam types affecting seniors include tech support fraud, romance scams, government impersonation schemes, and data breaches, with warning signs including unsolicited contact
bradleyscout.com
· 2025-12-08
coinweek.com
· 2025-12-08
The FBI and Sarasota County Sheriff's Office reported an increase in sophisticated fraud targeting senior citizens, where scammers impersonate tech support or government officials to convince victims to liquidate assets into cash and precious metals, then arrange in-person courier pickups under the pretense of safeguarding the funds in protected accounts before disappearing. Victims have reported losses exceeding $300,000, with law enforcement emphasizing that hanging up on callers, avoiding suspicious links, and immediate reporting are key defenses against these well-scripted, pressure-based schemes.
nbcnews.com
· 2025-12-08
**Bitcoin ATM Fraud Surge Targeting Seniors**
Reported losses from Bitcoin ATM scams rose nearly tenfold since 2020, totaling over $110 million in 2023, with consumers over 60 being more than three times as likely as younger adults to fall victim. Scammers impersonate customer service representatives, government officials, or tech company employees, directing victims to scan QR codes and deposit cash into Bitcoin ATMs that converts their money to cryptocurrency immediately transferred to fraudsters. One 76-year-old Indiana woman lost $31,500 after receiving a fake security alert, highlighting how scammers exploit urgency and confusion about
worklife.news
· 2025-12-08
Phishing emails now comprise 40% of Business Email Compromise threats, with malicious communications becoming increasingly sophisticated due to generative AI, making them harder to detect through traditional red flags. HR departments can help combat this rising threat by implementing phishing-simulation exercises and ongoing cybersecurity training for employees, creating a layered defense alongside IT security measures. A notable case involved fraudsters impersonating lawyers who convinced a Paris real estate developer's CFO to transfer €38 million, illustrating how devastating successful phishing attacks can be, potentially resulting in ransomware infections, data breaches, regulatory fines, and lawsuits.
caymannewsservice.com
· 2025-12-08
The Royal Cayman Islands Police Service (RCIPS) warned of an escalation in targeted online scams against local banking customers, including phishing calls spoofing local phone numbers and claiming to be from banks, credit card companies, or the RCIPS itself, with scammers using fraudulent links to gain computer access or requesting personal information. Additional scams reported include fake vehicle sales ads posted under "Simplicity Leasing" where victims lose deposit payments, and a case where a vehicle was sold with a hidden lien resulting in repossession. Police advised residents to verify contact directly with organizations, avoid clicking unsolicited links, and contact authorities immediately if compromised.
makeuseof.com
· 2025-12-08
Shipping scams impersonate legitimate delivery companies like Evri to trick victims into paying fake fees for packages, using increasingly sophisticated tactics including fake verification codes sent to phones. A researcher tested such a scam and found the fraudulent website included advanced features like data validation and SMS verification—tools rarely seen in previous scams—making it convincing enough to deceive even cautious users. Protection strategies include verifying URLs directly with the company, checking caller ID information, and contacting delivery companies directly before providing payment or personal information.
hastingstribune.com
· 2025-12-08
In January, a California financial advisor was convicted and permanently barred from the industry after pleading guilty to operating a fraudulent Ponzi scheme called "Northstar" that defrauded over 300 clients—predominantly elderly—of more than $24 million between 2000 and 2020. Elder fraud is rising nationally, with FBI data showing a 14% increase in reports and 11% increase in losses in 2023, with scams ranging from fake prizes and government impersonation to investment schemes and AI-enabled romance scams costing seniors over $3 billion annually. To protect themselves, seniors should verify financial advisors using free tools like BrokerCheck and the
thesenior.com.au
· 2025-12-08
A 68-year-old man named Philip Waller nearly lost $10,000 to a tech support scam after receiving a fraudulent message claiming to be from Microsoft about a hacked computer. The scammer obtained remote access to his device, then impersonated a NAB bank employee and convinced Waller to authorize a $10,000 withdrawal by claiming they needed his help catching bank fraud. The bank's fraud detection systems caught the suspicious transaction and blocked it before the money was lost, ultimately protecting Waller from the scam.
goldrushcam.com
· 2025-12-08
The San Luis Obispo County Sheriff's Office presented senior fraud awareness training to the Retired Active Men (RAMs) group on August 31, 2024, providing guidance on protecting against scams targeting seniors. Key protective strategies include trusting your instincts, avoiding pressure to make quick decisions, and verifying the identity of anyone contacting you before sharing information or money.
nypost.com
· 2025-12-08
Bitcoin ATM scammers defrauded seniors of $110 million in the past year, a nearly tenfold increase from 2020, with Americans over 60 being more than three times as likely to fall victim than younger adults. The typical scheme involves fraudsters posing as customer service representatives or officials contacting victims about identity theft or account breaches, then directing them to scan QR codes and deposit money into bitcoin ATMs that flows directly to the perpetrators. One victim, a 76-year-old Indiana resident, lost $31,500 after being targeted by scammers impersonating Apple support, bank representatives, and government officials.
ktvz.com
· 2025-12-08
This educational article identifies 10 common scams targeting seniors, who lose approximately $3 billion annually to fraud. The scams include romance scams, funeral fraud, grandparent impersonation schemes, phishing emails, Medicare fraud, fake tech support, and others that exploit seniors' trust, limited digital literacy, and valuable assets like homes and savings. The article provides protective advice such as setting social media accounts to private, verifying caller identities through stored contact numbers, and being skeptical of unsolicited requests for money or personal information.
odt.co.nz
· 2025-12-08
Scammers in New Zealand are employing increasingly sophisticated tactics to defraud residents, with a BNZ survey finding that 9 out of 10 New Zealanders were targeted by scams in 2023 (a 13% increase year-over-year), and research showing 62% encountered scams monthly. While scams affect people of all ages, older adults are particularly vulnerable to certain types like romance scams due to larger financial assets, with identity theft, shopping, and investment scams being the most common and emotionally damaging. Banks, police, and Netsafe recommend avoiding urgency-driven requests, verifying communications directly with companies, using
timesofindia.indiatimes.com
· 2025-12-08
On August 22, a Mumbai resident was defrauded of approximately Rs 73,000 on a dating app date when presented with an inflated bill, one of several similar incidents occurring across major Indian cities involving fake profiles, overpriced charges, and intimidation tactics. These organized dating scams also extend beyond restaurant bills to cryptocurrency fraud, with victims losing substantial sums after being lured by scammers posing as romantic interests who later pressure them for investments or money through fabricated emergencies. To protect themselves, users should verify profiles before meeting, avoid financial dealings with new acquaintances, meet in public locations, and preserve all communications as evidence.
7news.com.au
· 2025-12-08
Romance scammers cost Australians over $40 million in 2023, with South Australia accounting for $2.1 million in losses, according to police warnings during Scams Awareness Week. A case study involved Karen from Adelaide, who lost $50,000 to a fraudster who posed as an overseas boyfriend, built trust over weeks online, and requested money for education before disappearing when they were supposed to meet in person. Scammers typically target people over 55 through dating websites and social media by creating fake profiles, building emotional connections, and requesting money for various emergencies or investments; victims can protect themselves by never sending money to people they haven't met, verifying ident
thefintechtimes.com
· 2025-12-08
**Summary:**
Chainalysis research reveals a significant shift in cryptocurrency scams in China, with 43% of fraudulent inflows in 2024 going to newly created wallets—the highest on record—while individual scam lifespans have dramatically decreased from 271 days in 2020 to just 42 days in 2024. Scammers are pivoting from large-scale Ponzi schemes to targeted romance scams (pig butchering scams), which have grown 85 times since 2020 and cause the worst financial impact per victim; one fraud shop alone received $10.5 million from romance scammers between 2022-2024.
headtopics.com
· 2025-12-08
Romance scams cost Australians $40 million in 2023, with South Australia accounting for $2.1 million of losses, prompting police warnings during Scams Awareness Week. A case study involved Karen from Adelaide, who lost $50,000 to a fraudster she met online who posed as an overseas-based man and eventually asked for money under the guise of educational costs; when she traveled to meet him in person, he never appeared. Scammers typically target people over 55 through fake profiles on dating websites and social media, building trust before requesting money for emergencies or investment opportunities, a technique known as "catfishing" or "romance baiting."
cryptotvplus.com
· 2025-12-08
Since 2019, crypto ATMs have facilitated at least $160 million in illicit transactions globally, with scammers increasingly targeting elderly victims by impersonating loved ones and directing them to deposit cash into these machines. The Internet Crime Complaint Center reported over 15,000 digital asset scam complaints from people aged 60 and older in 2023 alone, with losses exceeding $1 billion and 2,000 complaints involving Bitcoin ATMs. Law enforcement agencies worldwide have responded by shutting down hundreds of illegal crypto ATMs and prosecuting operators, while researchers have identified patterns of suspicious cross-border transactions to help detect fraudulent activity.