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theconversation.com
· 2025-12-08
An 83-year-old Maryland woman named Mae fell victim to tech support fraud when she clicked a malicious link claiming to be from Apple, leading scammers posing as tech support and bank fraud personnel to convince her to purchase gift cards totaling thousands of dollars over a 10-hour period. The case illustrates a larger problem: an estimated $8 billion is stolen annually from seniors age 60 and older through stranger fraud, with gift cards increasingly becoming the preferred payment method for scammers because they lack consumer protections afforded to credit and debit cards and are easily converted to untraceable purchases or resold on dark web marketplaces. The investigation reveals that federal regulators have consistently
bbc.com
· 2025-12-08
Between January 2022 and January 2023, a "pig-butchering" investment scam targeting Chinese citizens was operated from the Isle of Man, with scammers working from the Seaview Hotel and former bank offices in Douglas. Nearly 100 Chinese workers, many transferred from the Philippines, used fast broadband and QQ messaging to lure victims into fake investment schemes where they posed as investment "teachers" and fellow investors, ultimately siphoning off millions of dollars. Six workers have since been convicted in Chinese courts for their roles in the scam, which was run by Manx Internet Commerce (MIC), part of a larger company group that also operated an online casino to exploit
dfpi.ca.gov
· 2025-12-08
Cryptocurrency scams have surged 900 percent since the pandemic began, with over 46,000 Americans losing more than $1 billion to crypto fraud in 2021 alone. Common scams include phishing attacks, Ponzi schemes, fake ICOs, and fraudulent exchanges that exploit crypto's decentralized and hard-to-trace nature. Consumers should exercise caution by only investing what they can afford to lose, verifying information through credible sources, using secure storage methods, and consulting state and federal watchdog organizations like California's Department of Financial Protection and Innovation (DFPI).
securityboulevard.com
· 2025-12-08
Kansas bank CEO Shan Hanes was sentenced to 24 years in prison for embezzling $47.1 million through wire transfers to cryptocurrency wallets as part of a "pig butchering" scam in which he was the victim-turned-perpetrator. His actions directly caused Heartland Tri-State Bank to collapse, resulting in $9 million in losses to investors, with the FDIC absorbing the remaining $47.1 million. Hanes circumvented internal banking controls with the help of employees to facilitate the fraudulent transfers between May and June 2023.
blockonomi.com
· 2025-12-08
On August 22, 2024, Philippine authorities arrested 99 people (67 foreign nationals and 32 Filipinos) in a raid on AIA Company, an unregistered cryptocurrency scam hub in Parañaque City that operated romance scams and fake investment schemes. Customer service representatives were coerced into posing as wealthy models to lure victims into investing in manipulated cryptocurrency platforms, with some employees forced into additional exploitative activities. Authorities seized electronic devices and are preparing charges under cybercrime and securities regulations laws.
yahoo.com
· 2025-12-08
A Portland woman fell victim to a romance scam after matching with someone on Tinder who posed as "Barton Nathan" and convinced her to send over $40,000 under the guise of needing money for visa fees, medical emergencies, and legal costs. The scammer used emotional manipulation and false promises of meeting in person to extract funds over several months before the victim realized the relationship was fraudulent. Romance scams resulted in over $1.14 billion in reported losses across more than 64,000 cases in 2023, making them the costliest type of online fraud despite being significantly underreported due to victim shame.
ibtimes.co.uk
· 2025-12-08
Shan Hanes, CEO of Heartland Tri-State Bank in Kansas, was sentenced to over 24 years in prison for embezzling $47 million after falling victim to a "pig butchering" cryptocurrency scam. Over eight weeks in 2022, Hanes transferred stolen funds from the bank, a local church, an investment club, and his daughter's college savings to cryptocurrency wallets controlled by scammers, ultimately losing all the money and causing the bank's collapse and FDIC takeover. The scheme devastated shareholders and community members, with victims losing 70-80 percent of their retirement savings and facing severe financial hardship.
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.
zdnet.com
· 2025-12-08
Singapore experienced a significant surge in scams from January to June 2024, with 28,751 cases resulting in SG$385.6 million (approximately $294.65 million) in losses—a 24.6% increase from the same period in 2023. Scammers increasingly targeted victims through messaging apps (particularly WhatsApp at 50.2% and Telegram at 45% of cases) and social media platforms (Facebook at 64.4%), using social engineering and deception to manipulate victims into self-executing fund transfers; notably, victims aged 65 and above suffered the highest average losses per incident, with government impersonation sc
abc7news.com
· 2025-12-08
The FBI launched a new public awareness campaign called "Take a Beat" to educate the public about major fraud schemes, including impersonation scams (posing as banks or law enforcement), cryptocurrency investment fraud, grandparent scams using AI voice cloning, and recovery scams targeting previous fraud victims. One Bay Area victim lost $950 to a scammer impersonating a Citibank employee, illustrating how fraudsters exploit emotional urgency and personal information to manipulate victims into sending money or revealing passwords.
cointelegraph.com
· 2025-12-08
Tether, a stablecoin issuer, has assisted over 145 law enforcement agencies in recovering more than $108.8 million in USDT linked to illegal activities since 2014, including a recent $5 million seizure from "pig-butchering" romance scammers who deceived victims by posing as romantic interests. The company has voluntarily blocked over 1,900 wallets connected to illicit activity and collaborated with the DOJ, FBI, and US Secret Service on investigations, with romance scams showing an 85-fold increase since 2020.
the-sun.com
· 2025-12-08
A cybersecurity expert warned that major data breaches—including AT&T's 2024 compromises affecting millions of customers' personal information—enable sophisticated scams orchestrated by state-sponsored actors from China, Russia, North Korea, and Iran who use stolen data for social engineering attacks. Victims lose billions annually to romance scams and "pig-butchering" investment scams (particularly in cryptocurrency), with one in four Americans losing an average of $500 to scams in the past year. The expert recommends monitoring for phishing attempts, using unique passwords with a password manager, and enabling multi-factor authentication to protect against fraud resulting from data breaches.
eccalifornian.com
· 2025-12-08
Romance scams remain the leading fraud reported to the FTC, with San Diego County alone reporting over $1.3 million in losses in 2023 and nationwide losses exceeding $1.1 billion annually. Scammers, often operating from overseas labor camps, pose as romantic interests and request money for emergencies, investments, or personal situations, using common excuses like illness, military deployment, or business deals. The article advises potential victims to avoid sending money to unmet online contacts, verify photos using reverse image search, and be suspicious of requests to move conversations off dating apps or provide personal information.
finance.yahoo.com
· 2025-12-08
A GOBankingRates survey identified common red flags that help people recognize financial scams, including unsolicited communication, poor grammar, unfamiliar sender information, requests for personal data, and time-sensitive offers. Financial experts explain why people still fall for increasingly sophisticated scams despite these warning signs—fraudsters now use AI-generated messages, mimic legitimate companies, exploit memory lapses, and use pressure tactics to cloud judgment. Additional red flags include too-good-to-be-true investment promises, lack of online presence, pressure tactics with confusing jargon, and requests for unusual payment methods like gift cards or cryptocurrency.
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
mk.co.kr
· 2025-12-08
A criminal organization based in Myanmar's "Golden Triangle" lured dozens of Korean men (ages 20-40s) with false promises of high-paying jobs (10-100 million won monthly), then imprisoned them in heavily guarded compounds and forced them into romance scams and stock fraud after confiscating their documents. The victims endured physical torture, threats, and forced labor for approximately 40 days until one escaped and reported the scheme to the Korean Embassy in October 2023, leading to the rescue of 19 victims and the arrest of 37 perpetrators; the estimated fraud damages exceeded 23 billion won.
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
securitybrief.com.au
· 2025-12-08
During National Scam Awareness Week, cybersecurity executives from firms including Qualys, SailPoint, and CyberArk emphasized the growing sophistication of scams enabled by AI and deepfake technology, warning that consumers must adopt a "zero-trust" approach to personal information requests. Industry leaders stressed that organizations must implement robust security measures, strengthen digital identity protections beyond weak authentication methods like SMS passcodes, and provide ongoing education to both employees and customers, as even vigilant individuals can fall victim to evolving threats. The experts noted that businesses are prime targets for cybercriminals due to their collections of personal data, and that personal scams can directly compromise corporate cybersecurity posture through passwor
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.
djc.com
· 2025-12-08
A California financial advisor, Paul Horton Smith, was convicted in January of operating a Ponzi scheme called "Northstar" that defrauded more than $24 million from hundreds of clients over two decades (2000-2020), with the majority of victims being elderly. Smith was barred from working in the financial services industry following his guilty plea. The case demonstrates how long-running investment fraud schemes can operate while targeting vulnerable populations.
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.
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.
uk.finance.yahoo.com
· 2025-12-08
This article identifies common red flags for financial scams, including unsolicited communications, poor grammar, unfamiliar sender information, requests for specific personal data, and time-sensitive offers. Financial experts explain why people still fall victim despite these warning signs: scammers use increasingly sophisticated techniques, AI-generated messages, spoofed contact information, and psychological pressure tactics to appear legitimate. Additional red flags include too-good-to-be-true investment promises, lack of online presence, pressure tactics, requests for unusual payment methods like gift cards or cryptocurrency, and impersonation of trusted organizations.
finance.yahoo.com
· 2025-12-08
Seven Maryland residents lost a combined $6.3 million in a gold bar scam where fraudsters posed as federal agents and claimed to be safeguarding assets from identity theft or foreign threats, directing victims to convert cash into gold bars for courier pickup by fake "FBI agents." The Montgomery County State's Attorney's Office believes approximately 20 victims total were targeted in what officials describe as organized crime with international links to India and China, with scammers able to transport the untraceable gold across borders. Seniors are particularly vulnerable, with people over 60 reporting $3.4 billion in cyber fraud losses nationally in 2023.
marinij.com
· 2025-12-08
Two defendants, Ronnie Curtis Baker and Kimberly Marie Mallory, pleaded not guilty to charges of defrauding an 80-year-old Greenbrae resident of approximately $250,000 in a financial scheme involving false contractor representation and money laundering of around $230,000. Baker, posing as a licensed contractor, and Mallory, a public notary, face multiple charges including elder theft, grand theft by false pretenses, mortgage fraud, and money laundering. The case is scheduled to return to Marin County Superior Court on September 26.
justice.gov
· 2025-12-08
Anthony Moulder and Abdou-Rahmane Diallo were sentenced to 10 and 7.5 years in prison, respectively, for operating fraudulent magazine subscription schemes that defrauded over 20,000 elderly and vulnerable victims of approximately $116.6 million between 2008 and 2020. Moulder's Florida-based companies used deceptive sales scripts and purchased consumer lists to solicit unwanted subscriptions, while Diallo's Canadian operation targeted previous fraud victims by impersonating a "magazine cancellation department" and falsely promising to eliminate their existing subscriptions in exchange for large payments. Both men pleaded guilty to fraud charges and were prosecute
finance.yahoo.com
· 2025-12-08
A GOBankingRates survey found that Gen Z and millennials fall victim to financial scams at higher rates than older generations, with 35% experiencing phone-related scams compared to 25% of Gen Xers, and 18% of Gen Zers victimized by Social Security scams versus less than 2% of seniors. Fraud prevention experts attribute this vulnerability to younger generations' greater trust in digital platforms, overconfidence in spotting scams, financial pressures, and exposure to recruitment into fraudulent activities on social media, despite 81% of Gen Z believing they can identify AI-generated fraud.
khaleejtimes.com
· 2025-12-08
A dating app scam ring operating in Dubai uses fake female Tinder profiles to lure men to complicit nightclubs in Business Bay and Dubai Marina, where they are pressured into ordering expensive drinks and food, resulting in bills ranging from Dh3,000 to Dh10,000 before the scammers disappear and block contact. The scheme, which involves at least six nightclubs and two identified individuals including a nightclub manager and a European woman, exploits an extreme version of upselling tactics and has victimized multiple Dubai residents who reported the fraud on online forums. While victims have little chance of recovering their money, some have negotiated reduced bills through confrontation with establishments.
afr.com
· 2025-12-08
Investment scams cost Australian victims $382 million in 2023-24, with people under 50 representing more than half of victims, a shift from traditional elder fraud patterns. Cryptocurrency investments accounted for approximately $180 million of losses, indicating that younger Australians facing cost-of-living pressures are increasingly targeted by fraudsters offering get-rich-quick schemes.
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
timesofindia.indiatimes.com
· 2025-12-08
A 48-year-old civil contractor from Pimpri lost Rs 21 lakh in an online share trading scam between July and August after responding to a stock market investment advertisement on social media. The scammer added the victim to a messenger group, promised high returns, and convinced him to transfer Rs 20.9 lakh to multiple bank accounts before becoming unresponsive and blocking contact. The Pimpri Chinchwad police registered a case after the victim filed a complaint with the cyber crime cell and are investigating using the contractor's bank transaction details.
coindesk.com
· 2025-12-08
Australians lost AUD$180 million (USD$122 million) in cryptocurrency investment scams over 12 months, representing 47% of the AUD$382 million lost to investment scams in the 2023-24 financial year. Contrary to assumptions that only older people are targeted, 60% of scam reports came from people under 50 years old, with scammers using pressure tactics, pig butchering schemes, and deepfake technology to deceive victims into making poor investment decisions.
finder.com.au
· 2025-12-08
An ANZ customer nearly lost AUD $50,000 to a romance scam involving a woman he met online who claimed her father had left her USD $1.5 million and needed him to send funds for taxes; ANZ's fraud team identified red flags and prevented the transfer. The article outlines six common romance scam scenarios and warning signs, including scammers expressing quick affection, avoiding video calls, and requesting money either directly or indirectly, as part of Scams Awareness Week 2024 education efforts highlighting that approximately 2.5% of Australians have experienced scams.
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
cbs12.com
· 2025-12-08
A 70-year-old Belle Glade woman was accused of insurance fraud after surveillance video showed her intentionally staging a fall at a Winn-Dixie store in May 2023. The footage allegedly captured Williams unscrewing a water bottle to create a spill, then deliberately falling into it—contradicting her claim that she slipped on an existing liquid. Investigators also discovered she had previously filed a similar slip-and-fall claim against Walmart, leading the Florida Department of Financial Services to charge her with insurance fraud.
coindesk.com
· 2025-12-08
Chainalysis reports that crypto scams remain the dominant form of crypto crime in 2024, with "pig butchering" scams—where fraudsters build trust through romantic contact before stealing cryptocurrency investments—posing particular danger to crypto wallet holders. The report identifies Huione Guarantee, a Cambodian online marketplace that has processed $49 billion in crypto transactions since 2021, as a key off-ramp used by scammers to convert stolen digital assets into usable funds, as traditional exchanges have strengthened their compliance measures.
infosecurity-magazine.com
· 2025-12-08
Blockchain analysts report that online scammers are shortening the duration of scams and creating new fraudulent schemes at an accelerated pace to avoid detection, with 43% of cryptocurrency flowing to scam wallets in 2024 originating from newly created accounts. The average scam duration has collapsed from 271 days in 2020 to 42 days in 2024, while "pig butchering" romance scams—where victims are deceived into fake investments—remain highly lucrative, with one Myanmar-based operation netting $100 million year-to-date. Illicit cryptocurrency marketplaces like Huione Guarantee have processed billions in transactions and enabled these scams to
ag.ny.gov
· 2025-12-08
New York Attorney General Letitia James warned New Yorkers about deepfake investment scams using AI-manipulated videos of celebrities like Elon Musk and Warren Buffett to promote fraudulent cryptocurrency schemes on social media and messaging apps. Scammers move victims to private encrypted platforms, encourage initial investments on fake websites showing gains, then demand additional fees or taxes before cutting contact, with victims sometimes losing hundreds of thousands of dollars. The alert provides red flags including guaranteed return promises, urgency tactics, celebrity endorsements, and requests to move conversations to encrypted messaging, and recommends victims verify investment professional credentials through FINRA's BrokerCheck and report suspected scams to law enforcement.
miragenews.com
· 2025-12-08
During the 2023-24 financial year, Victorians lost $76.5 million across nearly 70,000 scams, with investment scams accounting for $44.8 million, followed by romance and false billing scams. The Allan Labor Government launched Scams Awareness Week (August 26-30) encouraging victims to share their experiences to reduce stigma, support law enforcement efforts, and prevent others from falling victim to similar scams, particularly "get rich quick" investment schemes that promise unrealistic returns. Consumers are advised to avoid pressure-based investment decisions, seek independent financial advice, and verify company registration with ASIC before reporting suspected scams to their bank, local police, or
cyberscoop.com
· 2025-12-08
Chainalysis reports that online scam cycles have accelerated dramatically, with average scam duration shrinking from 271 days in 2020 to just 42 days in 2024, as cybercriminals shift toward shorter, more targeted campaigns using disposable infrastructure. Forty-three percent of tracked blockchain scam revenues went to newly created wallets, indicating a surge in fresh campaigns, with criminals increasingly employing "pig butchering" tactics—building trust with victims before requesting large sums—rather than broad, long-term schemes. This evolution reflects criminals' adaptation to improved detection methods and represents a more profitable, lower-risk strategy for laundering stolen cryptocurrency and evading law enforcement
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
fingerlakesdailynews.com
· 2025-12-08
New York Attorney General Letitia James issued an alert warning about deepfake investment scams using AI-manipulated videos of celebrities like Elon Musk and Warren Buffett to promote fraudulent cryptocurrency schemes on social media platforms. Scammers use these convincing fake videos to lure victims into sending money to fraudulent platforms, often moving conversations to encrypted apps and progressively requesting larger investments before cutting off contact and preventing withdrawals. The AG recommends verifying investment opportunities independently, watching for red flags like guaranteed returns and urgency tactics, and reporting suspicious content to law enforcement and social media platforms.
justice.gov
· 2025-12-08
**Olusegun Samson Adejorin, a Nigerian national, was extradited from Ghana in August 2024 to face federal charges for a $7.5 million business email compromise scheme targeting two charitable organizations—one in Maryland and one in New York. Between June and August 2020, Adejorin gained unauthorized access to employee email accounts, impersonated staff members, and fraudulently requested fund withdrawals, successfully diverting over $7.5 million from Victim 2's investment funds. He faces up to 20 years in federal prison on wire fraud charges, plus additional penalties for identity theft and unauthorized computer access.**
justice.gov
· 2025-12-08
Madison Carrig, a 30-year-old office manager and controller at three car dealerships in Vermont, pleaded guilty to two counts of access device fraud for embezzling customer cash receipts and misusing company credit cards for personal purchases between September 2022 and November 2023. She faces up to ten years in prison and $250,000 in fines, with sentencing scheduled for January 3, 2025. The Vermont State Police investigated the case.