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finance.yahoo.com
**Article:** LexisNexis Risk Solutions 2024 Cybercrime Report
**Summary:**
First-party fraud—including false loan applications, friendly fraud refund claims, and misrepresentation of personal information—became the leading fraud type globally in 2024, rising to 36% of all fraud (up from 15% in 2023), with inflation and rising living costs driving opportunistic attacks against financial institutions and ecommerce providers. Account takeover fraud remained significant at 27% of cases, while scams and authorized push payment fraud declined to 11%, though over three billion bot-driven account takeover attacks were still detected and AI-
financial-planning.com
This educational piece discusses how financial planners can help protect older clients from elder abuse and fraud by implementing proactive estate planning and family coordination. Key findings show that dementia and cognitive impairment risk increases significantly with age (affecting roughly 10% of those 65+, and over 50% by age 82), and isolation is a primary risk factor for elder abuse. The article recommends advisors facilitate family planning conversations about long-term care, ensure proper legal documents are in place (such as healthcare powers of attorney), and maintain regular oversight of clients in care facilities to prevent exploitation.
koaa.com
A Colorado couple nearly lost $75,000 in a real estate scam when they attempted to purchase a five-acre property in Park County through what appeared to be a legitimate real estate transaction. The scammer had impersonated the actual property owner and worked through a deceived real estate agent via email and phone, but was caught when a title company closer noticed red flags including the seller's unavailability by phone and insistence on using an out-of-state notary. The fraud was prevented before any money changed hands, and the couple is now warning others about seller identity fraud in real estate transactions.
valpo.life
Americans lose $10 billion annually to scams, with older adults being particularly vulnerable due to lower confidence in recognizing fraudulent schemes and varying levels of tech-savviness. Common scams targeting seniors include tech support fraud, sweetheart scams (which cost people over 60 nearly $367 million in 2023), imposter scams, advance fee scams, investment scams, gift card scams, emergency wire transfers, and phishing attempts. To protect yourself, understand how scams operate—scammers pose as trusted entities and create urgent situations to pressure you into sharing money or personal information—and avoid clicking unknown links, verify requests by calling institutions directly, and be skeptical of
neworleanscitybusiness.com
A 69-year-old Philadelphia woman nearly fell victim to a sophisticated tech support scam in which fraudsters posed as Norton antivirus, Microsoft, and her bank, threatening her with arrest and claiming hackers had transferred $18,000 to Russian accounts unless she purchased cryptocurrency. She avoided losing money after recalling that a friend had lost $800,000 to a similar scam and hung up the phone. Experts note that artificial intelligence, dark web data access, and lack of federal oversight have made financial scams increasingly believable and effective, with Americans losing between $23.7 billion and $158.3 billion to such schemes in 2023-2024.
recorderonline.com
Vikki Ann Cervantes, 50, a former Porterville librarian, was arrested on felony charges of grand theft, identity theft, and elder abuse after a yearlong investigation revealed she misappropriated thousands of dollars from an elderly victim's bank account without permission. The victim had granted Cervantes access to her account in 2024 to help pay bills following a medical condition, but Cervantes used the funds for her own personal expenses and opened additional accounts to continue accessing the victim's money. Cervantes turned herself in and was released on her own recognizance; a forensic audit found no evidence of theft from city library funds.
justice.gov
Kenneth Richmond, a 64-year-old New Orleans resident, pleaded guilty to conspiracy to commit wire fraud and aggravated identity theft for a 2022 scheme in which he and an accomplice used fake and stolen personal information to fraudulently purchase vehicles from a local dealership, including financing a Dodge Challenger with a victim's stolen identity. The fraud caused approximately $124,031.41 in losses to the dealership, with several financed loans defaulting. Richmond faces up to 20 years in prison plus a mandatory consecutive 2-year sentence, with sentencing scheduled for August 14, 2025.
nkytribune.com
U.S. consumers lost over $12.5 billion to fraud in 2024, a 25% increase from the prior year, with investment scams accounting for $5.7 billion in losses. Adults aged 60+ are particularly vulnerable, having lost $3.4 billion in 2023 alone to scams including tech support, grandparent, and government impersonation schemes. The article recommends consumers verify caller identity by hanging up and calling their bank directly, never share account credentials or one-time access codes, and ignore unsolicited payment requests, as legitimate banks will never ask for such information.
fingerlakes1.com
The IRS warns that tax scams and identity theft threats persist year-round, not just during tax season, highlighting top schemes including phishing attacks, W-2 fraud, fake charities, and new client scams targeting both individuals and businesses. The agency recommends protective measures such as using multi-factor authentication, strong passwords, anti-malware software, and reporting suspicious activity to [email protected], while maintaining secure business information like EINs and remaining cautious of disaster-related fraud schemes.
sandiegoreader.com
AARP California hosted a free educational event on June 20, 2025, in San Diego featuring expert speakers from law enforcement, protective services, and advocacy organizations to raise awareness about scams and financial exploitation targeting older adults. The presentation, held in recognition of World Elder Abuse Awareness Day, included representatives from the Elder Justice Task Force, District Attorney's Office, FBI, Adult Protective Services, and the Identity Theft Resource Center.
cnet.com
CNET advises fraud victims to report scams to the Federal Trade Commission and FBI's Internet Crime Complaint Center, even if no money was lost, as these reports help authorities identify trends, educate the public, and build cases against criminals. The FTC received over 3.4 million complaints last year with only 38% involving monetary losses, and victims can also take steps like freezing credit, contacting their bank, or using identity theft protection services to mitigate damage.
kpbs.org
AARP California is hosting a free educational event on June 20, 2025, in San Diego featuring experts from law enforcement and elder protection agencies to discuss scams and financial exploitation targeting older adults. The presentation includes speakers from the Elder Justice Task Force, District Attorney's Office, FBI, Adult Protective Services, and Identity Theft Resource Center, and registration is required but AARP membership is not necessary.
inyourarea.co.uk
Romance scams cost UK victims £27 million in the last year, with an average loss of £11,500 per victim, according to Action Fraud's 2024 report. Scammers typically employ tactics including using stolen photos to hide their identity, isolating victims through "love bombing," creating excuses to avoid in-person meetings, and gradually escalating requests for money with promises of repayment. The article outlines five warning signs and protective measures, including verifying identity through video calls, conducting reverse image searches, never sending money to unmet contacts, and seeking advice from trusted friends and family.
wired.com
This article is not about elder fraud. It covers cybersecurity and immigration policy issues, including CBP's face recognition expansion, data breaches affecting a messaging app used by government agencies, and a hack of a deportation airline that revealed flight manifests. These topics fall outside the scope of elder fraud research and do not involve scams targeting older adults or elder abuse.
hk-now.com
Killingworth's Committee on Aging held a two-hour Scam and Fraud Prevention Program on May 3, 2025, where attorney Don Phillips, legal services representative Erica Basoli, and State Trooper Rick Mulhall educated seniors about common fraud schemes including bank/credit card scams, gift card fraud, home repair scams, romance scams, tech support scams, and fake prize offers. The presenters advised seniors to avoid sharing personal information on social media, resist urgency tactics, report all scams to authorities, and verify legitimacy through official channels, while emphasizing that legitimate businesses should be registered, insured, and provide written contracts.
nwitimes.com
Cryptocurrency investment fraud accounted for nearly $4 billion in losses in 2023 (71% of all crypto-related losses), a 53% increase from 2022, with victims often lured through "pig butchering" scams that build trust via dating apps and social media before directing them to fake investment platforms. Criminals exploit cryptocurrency's decentralized nature, irreversible transactions, and AI-enhanced deception tactics—including voice cloning and fake videos—to operate sophisticated call center operations that mimic legitimate businesses. While people aged 30-49 filed the most complaints, victims over 60 suffered the highest losses at over $1.24 billion.
theglobeandmail.com
A TransUnion study found that 85-87% of online dating users want platforms to verify key information like age and photos, with over 28% reporting catfishing experiences and one in five experiencing romance scams involving requests for money or personal information. Over 75% of users are willing to undergo identity verification and 40% would pay for verification services to enhance safety. LatamDate.com has implemented profile verification tools with "verified" badges to address these concerns and help users connect more securely.
chicagocrusader.com
Over 75 seniors and family members attended a Fraud and Scam Prevention Seminar in Chicago on May 6, presented by JPMorgan Chase, the Chicago Police Department, and Chicago Commons, to learn protective strategies against financial fraud targeting older Americans. Illinois residents lost over $324 million to scams in the previous year, with seniors remaining highly vulnerable, and the event educated participants on common tactics including romance fraud, fake IRS calls, tech support scams, and impersonation schemes using the "Four Ps" framework (Pretend, Problem/Prize, Payment, Pressure). Attendees received practical guidance on fraud prevention, including setting up account alerts, using unique passwords, enabling
timesofindia.indiatimes.com
As the May 7, 2025 REAL ID deadline approaches, fraudsters are exploiting consumer urgency through fake DMV websites, phishing texts, and social media scams designed to steal personal and financial data by posing as expedited processing services. Scammers use pressure tactics, unofficial payment requests, and official-looking communications to deceive applicants unfamiliar with the process. Consumers should only use official state DMV websites, verify https security, avoid third-party payment methods, and report suspicious activity to the FTC or their state DMV.
welivesecurity.com
Jury duty scams involve fraudsters impersonating government officials or court workers who contact victims by phone, email, or text claiming they missed jury service and must pay a fine immediately or face arrest. Scammers use threatening language, phishing tactics, requests for personal information (like Social Security numbers), and demand payment via untraceable methods such as cryptocurrency, gift cards, or payment apps. Legitimate courts never request payment over the phone for missed jury service, and actual summonses and notices are only sent via USPS mail with fines issued only after repeated ignored notices.
2news.com
The Better Business Bureau held educational classes during Older Americans Month to teach community members about fraud prevention, with imposter scams and identity theft identified as the most common threats overall, while cryptocurrency investment, romance, and employment scams pose the greatest risk to those 55 and older. The BBB emphasized that technology gives scammers an advantage, particularly against older adults less fluent with digital tools, and offered resources including a Scam Tracker for reporting incidents and a free Scam Survival Toolkit to help victims recover both financially and emotionally from fraud.
aol.com
According to the FBI's 2024 Internet Crime Report, Americans over 60 lost approximately $4.885 billion to cybercrimes in 2024—about 40% of all reported cybercrime losses—averaging $83,000 per victim, representing a 46% increase in complaints from the prior year. Seniors are particularly vulnerable due to declining digital literacy and financial awareness, with investment scams, tech support scams, and romance scams causing the largest losses, often involving cryptocurrency. The most common cyberattacks targeting this demographic include phishing, spoofing, extortion, sextortion, and personal data breaches, with criminals exploiting loneliness and trust
aol.com
According to the FBI's 2024 Internet Crime Report, Americans aged 60+ reported approximately 147,000 cybercrimes totaling $4.885 billion in losses, averaging $83,000 per victim—representing 40% of all cybercrime losses despite being a portion of complainants. Seniors are particularly vulnerable to phishing, tech support scams, investment fraud, and romance scams due to declining digital literacy and social isolation, with investment scams causing the largest financial losses for this age group.
theadvocate.com
**Educational Presentation on Elder Fraud Prevention**
Sharon Creque of the Louisiana Attorney General's office presented to the Zachary Rotary Club on April 24 about the growing threat of elder fraud, which includes fake IRS calls, Medicare fraud, and identity theft targeting seniors through sophisticated scams. Key prevention measures include never sharing personal or financial information on unsolicited calls, hanging up on suspicious callers, using caller ID to block unknowns, and avoiding unfamiliar email links that may contain malware. The presentation emphasized that many cases go unreported due to victim embarrassment or confusion, and encouraged community awareness and reporting through the state attorney general's office.
theedgemalaysia.com
Two major fraud incidents in Malaysia highlight the growing threat of AI-enabled scams targeting even sophisticated financial institutions. A Maybank CFO nearly fell victim to a deepfake scheme involving an AI-generated Zoom call impersonating a colleague, which attempted to facilitate an unauthorized US$985,426 transfer, while a subsequent breach of the Malaysian stock trading system resulted in unauthorized trades potentially totaling RM10 million, with at least one investor losing RM500,000 in an earlier, initially overlooked hack.
northpennnow.com
A 69-year-old Philadelphia woman narrowly avoided losing money to a sophisticated tech support scam that impersonated Norton antivirus, Microsoft, and her bank to pressure her into purchasing cryptocurrency, claiming she faced arrest due to child pornography on her computer. The Federal Trade Commission reported Americans lost between $23.7 billion and $158.3 billion to financial scams in the 2023-2024 fiscal year, with experts citing artificial intelligence, dark web data access, and lack of federal oversight as enabling factors that make scams increasingly convincing and difficult to report or recover from.
newtondailynews.com
The "Pig Butchering Scam" combines romance fraud with cryptocurrency schemes, where scammers build trust with victims over weeks or months before pitching fake investment opportunities and stealing their money. The FTC reported record losses of $12.5 billion to fraud in 2024 (a 25% increase), with investment scams alone accounting for $4.7 billion in losses and a median loss of $9,196 per victim. Protection involves blocking unsolicited contacts, verifying investment opportunities through research and trusted advisors, and immediately reporting suspected scams to law enforcement and financial institutions.
dailyhodl.com
Two Houston men, Bradley Kane Zarco and Travis Castaneda Qawasmeh, along with three accomplices, pleaded guilty to stealing at least 120 credit cards and bank statements from the mail, then activating the cards, increasing credit limits, and using them to purchase retail items, gift cards, and withdraw cash over six months. The scheme resulted in $1 million in losses to JPMorgan Chase, with sentences ranging from 41 months to five years in prison for the five perpetrators.
hometownnewsbrevard.com
Helping Seniors of Brevard partnered with AARP Florida to present a free educational event called "Scam Jam" on May 16 in Melbourne designed to help seniors recognize and protect themselves from common fraud schemes. The event features workshops on prevalent scams including Nigerian lottery schemes, romance scams, government impersonation, tech support fraud, grandparent scams, and identity theft, with experts emphasizing warning signs such as pressure tactics, requests for gift cards or wire transfers, and poor grammar. The organization stresses that seniors should slow down, verify requests with others, and report suspicious activity to local law enforcement to help prevent victimization.
upi.com
Five individuals were sentenced to federal prison for defrauding retired Florida school district employees through identity theft and unauthorized withdrawal of retirement funds. The conspiracy, which involved a retirement specialist who worked at a company administering 401(k) accounts, resulted in the theft of $1.1 million from 25 different retirement accounts; sentences ranged from six months to 87 months, and all defendants were ordered to pay restitution.
wtsp.com
A 92-year-old Tampa Bay-area man lost over $800,000 in a romance and financial fraud scam perpetrated by Otiz Swinton Jr., 37, a repeat offender arrested in Orlando who posed as a woman online to gain access to the victim's investment accounts, subsequently draining funds through forged checks, unauthorized card use, cryptocurrency transactions, and identity theft between June 2022 and his arrest. Swinton had been released from prison just months prior after serving seven years for defrauding over 50 people of $1 million in a similar scheme, and authorities warn that isolated seniors are particularly vulnerable to such scams and should never grant financial access to
cw34.com
Five fraudsters were sentenced to federal prison for conspiring to steal over $1.1 million from retired Florida school employees' 401(k) retirement accounts, with sentences ranging from 6 months to 87 months. The scheme was orchestrated by Ronald Vargas, a retirement specialist who stole funds and transferred them to accomplices including Lambert Aguebor, Floyd Bostic, Grace Aguebor, and Sarina Levy, who then laundered the money through personal accounts, businesses, and real estate purchases. The court ordered all five defendants to pay $1 million in restitution to victims and serve supervised release periods following their imprisonment.
yahoo.com
The Eau Claire Police Department warned of a social media scam falsely claiming a local police officer was missing, presented as a silver alert to encourage sharing. The scam circulates initially as a missing person post before being changed to a survey offering cash prizes, designed to trick people into providing personal information for identity theft. Detective Justin Greuel advised the public to verify requests independently, note inconsistencies (such as silver alerts being for elderly persons only), and avoid sharing suspicious posts, as trusted sources sharing the content can lower people's guard against the fraud.
koaa.com
In 2024, scammers stole $243.5 million from Colorado victims and over $16 billion nationwide, according to FBI data—a $56 million increase in Colorado compared to 2023. Seniors aged 60 and older reported 3,125 complaints involving $74.5 million in losses, with the most costly schemes being investment fraud ($90 million), business email compromise ($48 million), and personal data breaches ($23 million). The FBI warns that scammers are becoming increasingly sophisticated, using social media, dating sites, and text messages to build trust before pitching fraudulent cryptocurrency and other investment schemes, with recovery of stolen funds typically
justice.gov
Five defendants were sentenced in federal court for conspiracy to commit wire fraud and identity theft targeting elderly retired Florida school district employees' 401(k) retirement accounts between January and March 2022. The conspirators, including a retirement specialist with inside access to personal information, fraudulently withdrew approximately $1.1 million from 25 different accounts, some belonging to deceased individuals, with sentences ranging from 6 months to 87 months in federal prison. The scheme involved creating fake withdrawal forms, processing them through the company's system, and laundering the stolen funds through various bank accounts.
tampafp.com
Five individuals were sentenced in federal court for conspiring to defraud retirement accounts of elderly and retired Florida school district employees between January and March 2022. Ringleader Ronald Vargas, a retirement specialist, exploited his position to access personal information of retirees and deceased individuals, which he provided to accomplices who created fraudulent withdrawal requests; the scheme targeted 25 different 401(k) accounts and resulted in a net loss of $1.1 million. The defendants received sentences ranging from 6 months to 87 months in federal prison, with Floyd Bostic receiving the longest sentence for his role as money launderer.
chattanoogan.com
Vickie Long of Ringgold pleaded guilty to exploiting an elderly person, identity fraud, and theft by taking after defrauding her mother of nearly $200,000 through fictitious cancer treatment schemes and unauthorized access to her bank accounts. The victim lost her home as a result of the fraud, and investigators determined Long spent most of the stolen money on fentanyl. Long was sentenced to 30 years in prison, with the first 15 years to be served in confinement.
foxnews.com
The FBI warns of sophisticated scams where fraudsters impersonate doctors, police, and bank officials using spoofed numbers and "smishing" texts, often targeting previous fraud victims through social media with promises of fund recovery. These schemes employ AI and deepfakes to appear legitimate, with scammers posing as recovery experts or FBI officials to steal personal information and money a second time. The article recommends staying calm when contacted by suspected scammers, avoiding unknown contact numbers, refusing remote access or software downloads, using strong antivirus protection, and considering personal information removal services as defensive measures.
10tv.com
Ohio seniors lost an average of $18,000 each to scammers in the past year, totaling $54 million statewide, with artificial intelligence making fraud increasingly sophisticated. Rising threats include fraudulent text messages mimicking legitimate banks and federal agencies, as well as data breaches at senior care facilities, such as a breach affecting over 50,000 people at HCF Management. Authorities recommend seniors monitor credit regularly, file fraud reports to help track criminal trends, and consider credit freezes or free credit monitoring to protect themselves.
techtimes.com
Pernilla Sjöholm, a victim of the "Tinder Swindler" romance scam documented in a Netflix film, co-founded IDfier, a mobile identity verification platform designed to prevent online fraud and identity impersonation. IDfier uses biometric scanning and official document verification to authenticate users with 99.9% accuracy and allows selective sharing of personal information across dating apps, social media, and other platforms. With backing from Swedish investors and pricing starting at $2/month, the platform aims to combat the estimated $1 trillion in annual consumer losses to scams globally.
mondaq.com
Online scams using remote access software (such as AnyDesk and TeamViewer) have become increasingly sophisticated, with fraudsters posing as financial advisers or IT technicians to trick victims into granting device access, allowing them to steal funds, personal data, and banking credentials. These scams cause significant financial losses and serious long-term psychological consequences, including damage to credit ratings and erosion of trust. Criminals typically initiate contact via phone, email, or social media, impersonate trusted institutions, and once granted access, transfer funds to untraceable accounts, purchase cryptocurrencies, or manipulate online banking systems.
wdef.com
Vickie Long of Ringgold, Georgia pleaded guilty to exploiting her elderly mother through an elaborate scheme involving false cancer diagnoses and fake treatment costs, ultimately defrauding her mother of approximately $200,000. After Adult Protective Services intervened, Long escalated her crimes by stealing directly from her mother's checking and savings accounts, causing her victim to lose her home. Long received a 30-year sentence with 15 years to serve in jail, having spent most of the stolen funds on fentanyl.
ktemnews.com
Following natural disasters in Texas, scammers target vulnerable residents seeking repairs and relief, with 63% of state residents falling victim to post-disaster scams according to Instant Roofer data, and Hurricane Beryl alone causing $2 billion in damage and displacing 1.4 million people. Common scams include fraudulent contractors, fake FEMA representatives, phony charities, and identity theft schemes. To protect yourself, verify business reviews, get all agreements in writing, avoid upfront payments, and be cautious of unsolicited relief offers and utility shutoff threats.
click2houston.com
Fraud and theft targeting seniors in Houston is increasingly prevalent, with impersonation fraud being the most common method, often targeting those posing as bank or Medicare representatives. Key protective measures include setting up bank transaction alerts, avoiding checks, building relationships with bank staff for verification calls, placing fraud alerts with credit bureaus, and involving family members in financial monitoring. Seniors are advised to hang up on suspicious calls and independently verify claims by contacting their bank directly, and victims of identity theft can seek guidance through IdentityTheft.gov.
ktnv.com
Federal Trade Commission data shows Americans lost $12.5 billion to scams in 2024, with adults 70 and older reporting a median loss of $1,000. Seniors are increasingly targeted through phishing emails impersonating banks or the Social Security Administration to steal personal information and Social Security benefits, though many victims avoid reporting due to embarrassment. Officials recommend protecting yourself by monitoring bank statements, shredding documents with personal information, never sharing details via email or phone, and verifying any Social Security Administration communications directly.
wral.com
Eight suspects were charged in a Chatham County fraud investigation for stealing approximately $40,000 from an elderly victim through identity theft and obtaining property by false pretense, with fraudulent charges beginning in April 2023. The investigation required multiple search warrants to track individual transactions, and was aided by the victim's daughter who held power of attorney and could access financial records. Law enforcement emphasized the importance of monitoring elderly relatives' bank accounts, researching caregivers, and recognizing urgency-based scams as red flags.
gulfnews.com
The UAE Cybersecurity Council warned of a rising scam in which fraudsters replace legitimate QR codes in public places with fake ones that redirect users to malicious websites designed to steal personal and financial information or install malware. The Council advised the public to verify QR code authenticity before scanning, watch for warning signs like multiple overlapping stickers, and use link-checking apps, while victims should immediately contact their banks, change passwords, scan devices for malware, and report incidents to authorities.