Explore the Archive

Adults over 60 lost over $4.9 billion to scams in 2024, with impersonation, romance, tech support, and emerging "grandparent scams" using AI voice cloning being the most common threats. The article provides six protective practices: avoid unknown calls/texts, never share personal information with unsolicited callers, recognize urgency and emotional manipulation tactics, and refrain from sending money to unknown contacts via any payment method.

Scammers pose as utility companies during summer months, threatening to shut off electric service due to unpaid bills and demanding immediate payment through gift cards, wire transfers, or mobile payment apps to exploit consumers' need for air conditioning. Legitimate utility companies do not threaten immediate shutoffs without notice or request unusual payment methods; consumers should verify any such claims by contacting their utility directly using the phone number on their bill. Those who suspect utility scams can contact AARP's Fraud Watch Network Helpline at 877-908-3360 for assistance.

Tasmania Police contacted 15 Tasmanians who lost a combined $2.5 million to scams involving cryptocurrency ATMs (CATMs), with approximately $900,000 deposited directly to these machines. Investigation found all top cryptocurrency ATM users in the state were involved in scams—primarily romance and investment fraud—where victims were directed to CATMs after banks blocked suspicious transfers. Police advise recognizing warning signs including pressure tactics, promises of high returns, and requests to deposit cash to CATMs from unknown individuals, and recommend reporting incidents to police and Scamwatch.

A Chime user, who works for a bank, lost $600 to an imposter scam after receiving a text appearing to be from Chime asking about a withdrawal attempt. The scammer called posing as a Chime representative, used personal information to build credibility, and convinced the victim to transfer money to another account under the pretense of protecting her funds from criminals—a variation of the "me to me" scam. Chime did not reimburse the victim, and the Financial Technology Association advises consumers to pause before sending money and contact companies only through verified channels on official apps or websites.

Advanced fee job scams in the UK surged 237% since the start of the year, with victims losing up to £5,000, according to Lloyds Bank. These increasingly sophisticated scams, predominantly targeting job seekers aged 18-34 through social media platforms, lure victims with fake remote work opportunities before demanding upfront payments for processing fees, training, or other fictitious costs; the average loss per victim is £1,420, with scammers sometimes manipulating victims into making multiple payments or unknowingly participating in money laundering schemes. Fraudsters employ tactics ranging from simple fake task postings (liking TikTok videos, writing fake reviews) to elaborate schemes

In 2023, fraud cost Americans an estimated $158.3 billion, with new federal initiatives like the National Elder Fraud Coordination Center launching to combat organized fraud schemes through investigation and prosecution. The article highlights three prevalent scams: fake travel websites that appear in search results, utility company impersonators threatening service shutoff, and increasingly sophisticated grandparent scams enhanced by AI technology that create false emergencies to pressure victims into sending money via gift cards, wire transfers, or cryptocurrency.

**Fraud Overview & National Response:** The Federal Trade Commission reported fraud theft reached $158.3 billion in 2023 ($434 million daily), prompting the creation of the National Elder Fraud Coordination Center to investigate and prosecute fraud criminals at scale. **Common Summer Scams:** Three prevalent scams target consumers: fake travel websites appearing in search results, utility company impersonators threatening service shutoff and demanding gift cards or wire transfers, and AI-enhanced grandparent scams using realistic voice manipulation to pressure victims into sending money for fabricated emergencies. Protection strategies include researching unfamiliar companies, contacting official numbers directly, and pausing before responding

Deepfake technology, powered by AI, poses a growing fraud threat to financial institutions and individuals, with estimates suggesting potential losses of Rs 70,000 crore in India in 2025. Fraudsters use hyper-realistic synthetic videos and cloned voices to impersonate executives or loved ones to authorize fraudulent transactions, with an average loss of $450,000 per business incident globally in 2024. Financial institutions are implementing advanced AI detection, blockchain-based identity verification, and employee training programs to counter deepfake fraud, as traditional KYC and facial recognition methods have become vulnerable to these sophisticated attacks.

The Palmer Center in Independence, Missouri hosted its annual "Scamboree" event to educate approximately 175 senior attendees about fraud prevention, featuring resources on common scams including investment fraud and utility company impersonation schemes. According to the Senior Medicare Patrol program, Medicare loses an estimated $60 billion annually to fraud, errors, and abuse, with participants advised to avoid sharing personal information with unknown callers and to hang up immediately on suspicious calls.

Scammers use robocalls claiming consumers overpaid utility bills and are entitled to cash refunds and future discounts, instructing recipients to press a number to claim the money. This is a fraudulent scheme or marketing trick, as legitimate utility companies credit overpayments to accounts rather than issue cash refunds, and unsolicited discounts are unlikely. Consumers should hang up without pressing any keys, never share personal information, verify claims directly with their utility company using the number on their bill, and report suspicious calls to the FTC.

Phone-based elder scams remain prevalent in 2024, with fraudsters using evolving tactics that exploit trust and urgency to target older adults. Common scams include Medicare impersonation, fake tech support, grandparent emergency schemes, lottery/prize offers, utility company threats, and government agency impersonation—each designed to steal personal information, drain bank accounts, or install malware. The key protection strategy is to never share personal information over unsolicited calls, verify requests independently by contacting official sources directly, and ask verification questions that only legitimate contacts would know.

RangersAI announced two new features in its ScamRanger app to combat elder fraud and scams: Guardian Mode, which allows vulnerable users to designate trusted contacts who receive scam alerts and can provide support, and a WhatsApp Agent that delivers real-time scam detection directly within WhatsApp. The app detects over 130 scam types across SMS, email, and chat platforms, addressing a global scam crisis exceeding $1 trillion in losses annually.

Scammers have been contacting Michigan residents by phone and email, impersonating Consumers Energy representatives and threatening service disconnection unless immediate payment is made via prepaid debit cards or gift cards. Consumers Energy clarified that it never demands specific payment methods or requests credit card information over the phone, and customers should hang up and call the official number (800-477-5050) to verify any such contact. Those who suspect they were scammed should report the incident to Consumers Energy or local police depending on whether payment was made.

Consumers Energy and utilities across North America are warning Michigan customers about a prevalent scam in which criminals call or email demanding immediate payment under threat of power shutoff, spoofing legitimate utility phone numbers and requesting payment via debit cards, gift cards, or cryptocurrency. The scams are so widespread that over 150 utilities have formed a coalition called Utilities United Against Scams, and victims are advised to contact Consumers Energy at 800-477-5050, report to local police, and contact their bank immediately if they used a credit card, though recovery is unlikely for wire transfers or gift card payments.

A Kailua woman received a voicemail from someone claiming to represent Hawaiian Electric Company, warning that her home utilities would be disconnected unless she called back immediately—a common scam tactic that exploited her vacation anxiety and inability to verify the claim. The article discusses how artificial intelligence and readily available personal information are making it increasingly easier for scammers to create sophisticated frauds, including voice-cloning technology that impersonates trusted contacts, with particular vulnerability among seniors and young people.

A 2025 survey by Iris and the Global Anti-Scam Alliance found that 77% of Americans encountered scams in the past 12 months (averaging daily exposure), with 70% reporting actual victimization and over 20% losing an average of $1,086.70. Despite 82% of scam victims reporting incidents to banks or payment services, only 44% recovered at least some funds, and platforms took discernible action on just 43% of reported scams, revealing a significant gap in institutional support and victim recovery.