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npr.org
· 2025-12-08
Cambodian investigative reporter Mech Dara was arrested and charged with incitement to commit a felony for social media posts, facing up to two years imprisonment. Dara is known for exposing online scams, human trafficking at scam compounds, and corruption across Cambodia—including "pig butchering" romance scams where victims are defrauded of large sums. His arrest has been condemned by international press freedom organizations and the U.S. State Department, which previously honored him for his anti-trafficking work.
theguardian.com
· 2025-12-08
Meta has partnered with Australian banks through the Fraud Intelligence Reciprocal Exchange (Fire) program to combat celebrity deepfake investment scams, removing over 17,000 fraudulent pages and scam posts in its first six months. Australians reported $43.4 million in social media scam losses to Scamwatch from January to August 2024, with nearly $30 million attributed to fake investment schemes featuring manipulated images of public figures. The initiative enables direct information sharing between Meta and seven major banks to identify and block scams more rapidly, though the program's impact remains limited compared to the overall volume of reported losses.
cnbc.com
· 2025-12-08
Meta announced an expanded information-sharing partnership with U.K. banks NatWest and Metro Bank to combat fraud on its platforms, leveraging its Fraud Intelligence Reciprocal Exchange (FIRE) system to detect and remove scamming accounts. The collaboration has already resulted in the removal of 20,000 accounts involved in a concert ticket scam targeting U.K. and U.S. consumers, with additional banks expected to join the initiative. The partnership addresses longstanding concerns from financial institutions about fraud and scams proliferating on Meta's platforms, including unauthorized push payment fraud and financial schemes.
usatoday.com
· 2025-12-08
Federal officials are warning Hurricane Helene victims of an anticipated surge in fraud schemes, including fake charities, identity theft, and fraudulent contractor scams targeting vulnerable disaster survivors. The National Center for Disaster Fraud has received over 220,000 complaints since 2005, and authorities say criminals exploit disaster victims before, during, and after storms by impersonating government officials, soliciting fake donations, and committing price gouging. Experts advise survivors to verify the identities of helpers, avoid sharing sensitive information, obtain multiple repair estimates, and report suspected scams to FEMA or local authorities.
indiatoday.in
· 2025-12-08
A retired Brigadier from Panchkula, Haryana, lost Rs 4.2 crore after downloading a phishing app from a WhatsApp link promising stock market investment opportunities; he and his wife were deceived into transferring funds across multiple accounts before being asked to pay an additional Rs 65 lakh commission to withdraw their money. The investigation revealed the scam was orchestrated by an international network based in the United States and United Kingdom, which used Indian bank accounts from rural border villages to launder the stolen funds, compensating account holders with small commissions.
senatedems.com
· 2025-12-08
Michigan has over 73,000 older adult victims of elder abuse annually, experiencing scams, fraud, theft, and exploitation that cause serious physical and psychological harm. The Michigan Senate Civil Rights, Judiciary, and Public Safety Committee unanimously advanced four bills (SB 922-925) designed to strengthen protections for vulnerable adults by enhancing penalties for abuse and financial exploitation, creating personal protection orders for seniors, extending prosecutions beyond victims' deaths, and establishing multidisciplinary teams to prevent and investigate elder abuse.
localnewsmatters.org
· 2025-12-08
A Marin County scammer attempted a "grandparent scam" by falsely telling an older man that his grandson was in custody at Alameda County Courthouse and needed $4,000 for bail. When the victim agreed to provide the money, the Marin County Sheriff's Office arranged for the suspect to pick up the cash in person and arrested him upon arrival at the victim's residence. The suspect was charged with attempted embezzlement of an elder adult and attempted grand theft.
dhs.gov
· 2025-12-08
HSI arrested two men in Rhode Island in connection with elder fraud schemes targeting seniors through online pop-up scams. Jirui Liu, 22, of Canada was charged after allegedly defrauding a 79-year-old man of $30,000 in cash and $130,000 in gold bars by impersonating federal authorities and falsely claiming his assets were compromised; a 72-year-old victim lost nearly $200,000 in a similar scheme involving Kush J. Patel, 22, of Connecticut, who posed as an FTC agent directing the victim to purchase and deliver gold bullion.
news.trendmicro.com
· 2025-12-08
Contrary to the stereotype of elderly victims, research shows younger people report losing money to scams more frequently than older adults, with those under 21 experiencing the largest surge in online fraud losses and 18-24 year-olds losing a median of $200 per scam. However, older adults suffer larger individual losses, with those aged 70-79 losing a median of $800 and those 80+ losing $1,500, reflecting how scams are tailored to different generations—younger people are targeted primarily on social media (40% of cases for ages 18-29) while older adults are targeted via phone (40% for those 80+). Different age groups face distinct
clintonherald.com
· 2025-12-08
The Iowa Department of Public Safety warned of an emerging trend in which scammers are demanding gold bars, coins, and bullion as payment instead of traditional methods like gift cards or cryptocurrency. Common scam types—including government impersonation, tech support, and romance scams—have shifted to this new payment method, with one central Iowa resident losing $305,000 in gold and silver to a fake Microsoft representative in June 2024, and the FBI reporting $55 million in precious metals losses nationwide during the second half of 2023.
japantimes.co.jp
· 2025-12-08
Investment fraud and romance scams conducted via social media tripled in the first eight months of the year, with 6,868 reported cases resulting in approximately ¥88 billion ($600 million) in losses, compared to 2,008 cases and ¥21.1 billion the previous year. Scammers employed two primary methods: posing as trusted investors or celebrities in investment fraud schemes, and courting victims through dating apps to solicit money in romance scams. The National Police Agency issued the warning to raise public awareness about these escalating threats.
stories.td.com
· 2025-12-08
Canadian Anti-Fraud Centre data shows fraud losses exceeded $554 million last year, a 40% increase from 2021, with underreporting masking the true scale of the problem. Fraudsters are increasingly using sophisticated technologies, including AI-generated deepfakes and impersonations, to deceive victims across multiple scam types including job scams, which typically involve unsolicited job offers followed by requests for upfront payment for training or uniforms. Financial institutions and individuals can reduce risk through cyber literacy training, skepticism toward offers that sound too good to be true, and verification of job opportunities through official company channels.
peoplenewspapers.com
· 2025-12-08
Investment scams targeting seniors and other consumers have become significantly more costly, with median losses rising from $1,000 in 2021 to nearly $6,000 in 2023, according to a Better Business Bureau study. Scammers increasingly blend romance/confidence tactics with cryptocurrency opportunities, primarily recruiting victims through social media and messaging apps, with Texas residents alone reporting $2.1 million in losses during 2024. Key red flags include guaranteed massive returns, pressure to invest for romantic reasons, aggressive responses to refusal, and unexpected high fees required to access returns.
justice.gov
· 2025-12-08
Two individuals—Darryl Lamont Young and Aqeelah Ngiesha Williams—were indicted for defrauding seriously ill veterans between December 2021 and April 2023. Young, calling from correctional facilities, posed as a VA employee to obtain personal and banking information from patients at medical facilities, which he and Williams then used to steal approximately $8,000 from over 60 victims across more than 30 facilities through 130 fraudulent transactions. Both defendants face charges including conspiracy to commit wire fraud, wire fraud, and aggravated identity theft, carrying potential sentences of up to 20 years in prison.
grandhaventribune.com
· 2025-12-08
This article is not relevant to the Elderus database. The content is primarily a weather forecast with unrelated comment policy guidelines. While a brief mention references the Long Leaf Trading Group case—a Chicago-based boiler room that defrauded customers through commodity trading schemes, collecting $1.2 million in commissions—the article's focus is on general fraud trends and AI-enabled scams rather than a specific elder fraud incident. No elder victims, specific dollar losses to seniors, or elder abuse details are provided.
prweek.com
· 2025-12-08
Tinder launched a World Romance Scam Prevention Day campaign featuring Love Island star Rob Rausch to promote awareness of romance scams and advertise its new verification tool available to U.S. users. The campaign highlights that U.S. digital consumers lost $1.14 billion to scams last year, and Tinder has rolled out over 20 safety features in recent years to combat romance fraud. Match Group plans additional influencer partnerships to further educate audiences about online dating safety.
timesofindia.indiatimes.com
· 2025-12-08
**Summary:**
A 60-year-old doctor in Surat lost Rs 22 lakh in an investment scam after being contacted via WhatsApp and recruited into a fake investment group where a fraudster posed as a stock market advisor. The scammers directed him to download a fake trading app (OAK-A) and transfer funds for stock and IPO purchases, showing false profits on the app while restricting his withdrawals to just Rs 50,000. He reported the fraud to the cybercrime helpline on July 17, leading to an FIR filed by police on October 3.
gigazine.net
· 2025-12-08
Cybersecurity researchers discovered fraudulent apps disguised as calculators and financial news apps on Google Play and the App Store that facilitated "pig butchering" scams, where victims were tricked into depositing funds on fake trading platforms after providing personal and identification documents. The malicious apps, which evaded store review mechanisms by displaying legitimate-looking screens during testing, were downloaded thousands of times primarily in the Asia-Pacific region before being removed, though scammers have since shifted to using phishing sites instead. Experts recommend that financial institutions implement fraud monitoring systems and educate users to verify links and research investments thoroughly.
tradingview.com
· 2025-12-08
The FBI warns of Ichcoin, a fraudulent cryptocurrency platform that has stolen approximately $30 million from U.S. investors since December 2023 by using fake social media profiles to lure victims into investment conversations, direct them to WhatsApp, and convince them to make large wire transfers. Victims are shown fake returns on the Ichcoin app but lose all funds when they attempt withdrawal and are ghosted by scammers. The scheme highlights a broader surge in crypto fraud, with stolen cryptocurrency nearly doubling to $1.58 billion by mid-2024, and demonstrates the evolving threat of pig butchering scams that use
grandforksherald.com
· 2025-12-08
Long Leaf Trading Group, a Chicago-based boiler-room operation announced in 2020, cold-called victims to promote a commodity-trading scheme that promised 6%-12% annual returns; nearly all customers lost money while the company collected $1.2 million in commissions. The article contextualizes this case within a broader fraud epidemic, noting that consumer fraud cost Americans a record $10 billion in the previous year, with AI-enhanced scams using voice cloning, personalized data, and imposter tactics now replacing older low-tech fraud schemes and making it increasingly difficult for law enforcement to combat modern scammers.
thedailybeast.com
· 2025-12-08
Truth Social users, particularly retired older adults, have lost thousands to millions of dollars in scams on the platform over the past two years, with complaints to the FTC documenting "pig butchering" investment schemes, cryptocurrency fraud, and romantic scams that exploited victims out of amounts ranging from $21,000 to $500,000. The scams typically involved fraudsters creating fake investment accounts showing fictitious gains to lure victims into larger contributions, or posing as romantic interests to extract money for supposed emergencies or investment opportunities. Truth Social's parent company stated it has a team actively searching for and removing scams and bots from the platform.
independent.co.uk
· 2025-12-08
A new mandatory bank transfer fraud reimbursement code took effect in the UK, requiring banks to reimburse victims of purchase scams, romance fraud, and investment scams where money was sent via bank transfer. The code protects individuals, small businesses, and charities, with an £85,000 reimbursement limit (covering 99% of claims) and a required refund timeline of 5 business days, though refunds may be denied if the victim was complicit or grossly negligent in the fraud.
tag24.com
· 2025-12-08
Truth Social users, predominantly those over 60, have filed numerous FTC complaints alleging they were scammed out of hundreds of thousands of dollars through schemes including "pig butchering" (fake investment cons) and romance scams, with individual losses ranging from $120,000 to $500,000. The platform's parent company claims to actively monitor for and remove scammers, but FTC complaints obtained through a Freedom of Information Act request reveal the scams have persisted over at least a two-year period.
union-bulletin.com
· 2025-12-08
Long Leaf Trading Group, a Chicago-based boiler-room operation announced in 2020, cold-called unsuspecting customers to promote a fraudulent commodity-trading scheme promising 6%-12% annual returns, resulting in nearly all customers losing money while insiders collected $1.2 million in commissions. The article contextualizes this relatively straightforward scam within the broader modern fraud epidemic, where AI-enhanced voice cloning, personalized targeting using social media and data breach information, and imposter schemes have driven consumer fraud losses to a record $10 billion annually, with law enforcement struggling to keep pace with increasingly sophisticated technology-enabled cons.
rollingstone.com
· 2025-12-08
Truth Social users, predominantly older adults, have reported losing tens of thousands to half a million dollars to romance scams, fake cryptocurrency investment schemes ("pig butchering"), and recovery scams originating on the platform, according to FTC complaints. One 72-year-old victim lost $21,000 to a romance scammer, while a North Carolina resident lost $150,000 to a fake investment scheme falsely claiming Trump and other Republican figures as co-founders. Many victims are Baby Boomers withdrawing retirement savings, with scammers using fake identities, false promises of investment returns, and fake banking websites to perpetrate the frauds.
alternet.org
· 2025-12-08
Truth Social users, predominantly older Americans, lost hundreds of thousands of dollars to scammers using "pig butchering" schemes and romance scams, according to FTC complaints obtained by a tech reporter. Victims included a 60-64-year-old from Minnesota who lost $500,000 to a cryptocurrency investment scam, a septuagenarian who lost $21,000 in a romance-based scheme, and a 70-74-year-old from Oregon who lost $120,000 in a fake gold trading scam. Scammers typically build trust on Truth Social before moving victims to other platforms and convincing them to invest in fake cryptocurrency, stock, or precious
citizen-times.com
· 2025-12-08
Following Hurricane Helene in North Carolina, authorities warned of increased scam activity targeting disaster victims, including FEMA impersonation fraud, fake fundraisers, home repair rackets, and land theft schemes via text messages. The North Carolina Attorney General's office had already received over 200 complaints about price gouging as of the article's publication. Residents are advised to verify contractor licenses, research charities through the Better Business Bureau, confirm FEMA representatives' credentials, and report suspected fraud to local police or the Attorney General's office at 877-566-7226.
milfordlive.com
· 2025-12-08
The Milford Police Department is hosting a free Senior Protection Presentation on October 11 addressing fraud and scams targeting older adults, including prevention tips and recovery advice. According to the FBI's 2023 Elder Fraud Report, elder fraud complaints rose 14 percent with losses exceeding $3.4 billion, though actual figures are likely higher due to underreporting, with victims averaging nearly $34,000 in losses.
cnbc.com
· 2025-12-08
Federal officials warn of rapidly increasing cryptocurrency scams where fraudsters establish fake romantic or professional relationships on dating apps, social media, and messaging platforms, then convince victims to invest in crypto on fraudulent platforms. Consumers lost an estimated $5.6 billion to crypto-related scams in 2023 (up 45% from 2022), with relationship scams being the most prominent type and averaging $178,000 in losses per victim; the SEC brought its first enforcement actions against these schemes in operations involving platforms like WhatsApp and LinkedIn.
fox10phoenix.com
· 2025-12-08
According to an IPX1031 study, 30% of Americans were scammed in the last 12 months, with victims losing an average of $2,647 over their lifetime. The most common scams are credit card fraud (37%), identity theft (34%), and online shopping scams (32%), though only 56% of victims report incidents to authorities. While 80% of Americans take preventive measures like self-education and stronger passwords, significant gaps remain—including 10% who don't use two-factor authentication and 22% unfamiliar with credit freezes—and 76% express concern about AI advancing fraud tactics.
timesofindia.indiatimes.com
· 2025-12-08
A 28-year-old resident doctor in New Delhi lost Rs 7.6 lakh in a stock market investment scam operating through a WhatsApp group that promised unusually high returns. The fraudsters used fake profiles, fake trading apps showing inflated profits, and impersonated financial advisors conducting daily lectures; when the victim tried to withdraw funds, he was blocked and asked to pay 30% fees, then lost an additional Rs 1 lakh attempting recovery. This scam is part of a rising trend in New Delhi where fraudsters create deceptive online platforms mimicking legitimate trading platforms, with recent victims including a Hauz Khas resident who lost Rs 6 cr
bangkokpost.com
· 2025-12-08
More than 200 people filed complaints with Thai cyber crime police alleging they were defrauded by an online gold jewelry shop operated by a woman using the alias "Khun Bainad," with police suspecting over 500 total victims. The scam operated as a Ponzi-like scheme where the shop initially delivered items to early customers using payment from new buyers, but eventually ran out of funds after spending customer money; victims paid amounts such as 33,000 baht for promised gold that was never received, with some victims losing their entire life savings. The shop owner faces fraud charges and asset seizure by authorities investigating the scheme.
hollywoodreporter.com
· 2025-12-08
Computer security company McAfee identified the top 10 celebrities whose identities are most frequently exploited in online scams, with Scarlett Johansson, Taylor Swift, and Johnny Depp leading the list. Scammers use these celebrities' names and likenesses without permission across various fraudulent schemes including fake product endorsements, cryptocurrency investments, ticket scams, deepfake videos, and malware distribution designed to steal financial information or enable identity theft. As AI tools make fraudulent content increasingly convincing, experts warn consumers to exercise caution and verify authenticity before engaging with celebrity-related online offers.
theglobeandmail.com
· 2025-12-08
While elder fraud remains prevalent, scammers are increasingly targeting younger social media users through platform-specific schemes including fake brand ambassador programs, cryptocurrency rug-pulls, and account impersonation. The article advises users of all ages to exercise skepticism, verify information through reliable sources, and wait 24 hours before providing money or personal information online to avoid falling victim to these evolving fraud tactics.
womansworld.com
· 2025-12-08
Five individuals were arrested and charged with wire fraud conspiracy after stealing at least $8 million from older victims across ten states through a tech support scam that included gold bar purchases. The scammers contacted elderly victims claiming their financial accounts were compromised and directed them to transfer funds, open new accounts, and purchase gold bars that couriers then collected; one 82-year-old Missouri woman lost approximately $250,000 in the scheme. To protect against such scams, authorities advise victims and their families to report suspicious activity immediately to the FBI's Internet Crime Complaint Center.
thewash.org
· 2025-12-08
A gold bar investment scam in Montgomery County has defrauded approximately 25 seniors, with individual losses ranging from $100,000 to $973,000. Scammers use fake pop-up ads and impersonation of government officials to convince victims to convert assets into gold bars for "safekeeping," then dispatch couriers to collect the gold, with the scheme originating from India and China and targeting women particularly. The State's Attorney's office is conducting public awareness campaigns at senior residences and currently has four criminal cases involving five defendants under investigation.
newsmeter.in
· 2025-12-08
DB Stock Broking, a fraudulent investment scheme operated by Deepankar Barman from Guwahati, defrauded Hyderabad residents of approximately Rs 2 crore by promising extraordinarily high returns (up to 120 percent annually) before ceasing payments in July and the operator fleeing in August 2024. Among the victims was a techie who invested Rs 11 lakh and received no returns, and authorities have registered criminal cases against Barman and associates under breach of trust and cheating charges while investigating the broader Rs 7,000 crore scam across multiple cities.
indiatoday.in
· 2025-12-08
A Chennai-based trading firm, Agrigo Trading Private Limited, lost Rs 2 crore ($238,500) after receiving a spoofed email that appeared to come from a legitimate supplier, complete with a forged proforma invoice and fraudulent banking details. The general manager transferred the funds via NEFT before discovering the deception the next day when contacting the actual supplier. Swift action by authorities coordinating with the State Cyber Crime Investigation Centre, Ministry of Home Affairs, and Regions Bank in the USA resulted in recovery of the entire amount, underscoring the need to verify email authenticity and payment details directly with suppliers before processing financial transactions.
cnbctv18.com
· 2025-12-08
**Digital Arrest Scam Advisory**
On October 27, the Prime Minister's office issued an advisory warning the public about "digital arrest" scams, clarifying that no investigative agency—including the CBI, police, customs, or ED—conducts arrests via phone or video call. These scams involve fraudsters impersonating government officials who claim victims are involved in illegal activity and demand payment of fines or penalties to avoid arrest; notable victims include an NBCC official who lost ₹55 lakh and businessman SP Oswal, 82, who lost ₹7 crore after being held in a state of virtual "arrest" for two days
mirror.co.uk
· 2025-12-08
Maureen Gunn, 66, from East Lothian, Scotland, lost approximately £50,000 in a romance scam involving a fake UN Navy captain she met on Facebook, then stole nearly £15,000 from her 89-year-old mother's bank account to continue funding the scam. As her mother's primary carer with power of attorney, Gunn made unauthorized withdrawals and transfers over three years before family members discovered the theft and contacted police. She pleaded guilty to embezzlement and received a three-year supervision order, 140 hours of community service, and was ordered to repay £14,521.60 at £150
bostonglobe.com
· 2025-12-08
Wisdom Oghenekaro Onyobeno, a 44-year-old Nigerian man, was sentenced to over 10 years in federal prison for leading a $5.8 million romance scam that targeted vulnerable women in their 60s, 70s, and 80s across the United States. The victims, many widowed and seeking companionship, were deceived by fabricated romantic stories and charm, losing retirement savings, valuables, and in some cases their health and lives, with one Florida widow alone losing over $324,000. Judge John J. McConnell Jr. rejected Onyobeno's pleas for leniency, calling the scheme "
inkl.com
· 2025-12-08
Americans lost a record $10 billion to scams in 2023, with fraud schemes becoming increasingly sophisticated in their execution. Forensic accounting expert Mike McCall highlights gift card scams as a particularly damaging form of elder fraud, where scammers pose as government officials, law enforcement, or family members to pressure victims into purchasing gift cards to pay fines, debts, or emergency expenses. AARP reports that older Americans lose billions annually to such schemes, and McCall emphasizes that no legitimate agency will ever request payment via gift cards.
justice.gov
· 2025-12-08
Raj Vinodchandra Patel, a 34-year-old New Hampshire resident, was sentenced to 51 months in prison for his role in a wire fraud scheme targeting elderly residents. Patel served as a courier for an operation originating from India that used fake pop-up messages and impersonated federal agents to convince victims their Social Security numbers were compromised, then instructed them to purchase gold bullion for "safekeeping"; he was caught on October 7, 2023, when the FBI conducted a sting operation after an Alexandria, Louisiana victim reported the fraud, resulting in an intended loss of approximately $514,000 across multiple victims.
justice.gov
· 2025-12-08
Three federal agencies (Justice Department, FTC, and CFPB) warned consumers about potential fraud and price gouging schemes that exploit natural disasters and hurricanes. Common scams include fraudulent charities imitating legitimate relief organizations, scammers impersonating government officials demanding personal information or payment, fake disaster recovery businesses, and price gouging on essential goods and services. Consumers are advised to avoid wire transfers, gift cards, payment apps, and cash payments for disaster services, never pay fees to obtain relief, and research contractors thoroughly before hiring.
kgw.com
· 2025-12-08
Scammers posing as FBI and government agents are conducting an international fraud scheme where they trick seniors into liquidating assets into cash or gold, then arrange in-person pickups by couriers at victims' homes. An 83-year-old Salem man lost $90,000 after being contacted through a computer pop-up, threatened with arrest, and instructed to hand over cash to couriers in his driveway; in the past six months, Oregon victims lost over $3.3 million in at least three documented cases, with law enforcement making arrests through sting operations. The FBI reports this organized scheme involves hundreds of millions of dollars being funneled internationally, with couriers operating across multiple
thenewportbuzz.com
· 2025-12-08
Over 100,000 seniors nationwide reported losing more than $3.4 billion to fraud last year, with Rhode Island residents over 60 losing $7.4 million, increasingly victimized by AI-enabled scams including voice replication and tech support fraud. U.S. Senator Jack Reed partnered with AARP Rhode Island and state police to host a fraud prevention education event offering seniors practical advice: never share personal information with unknown callers, beware of urgent notices, designate trusted contacts, and hang up on suspicious calls demanding immediate payment. Investment scams posed the greatest financial risk to seniors, while tech support scams were the most commonly reported fraud type.
timesofindia.indiatimes.com
· 2025-12-08
A 75-year-old woman in Mumbai's suburbs lost Rs 21 lakh to an online extortion scam where fraudsters impersonated Delhi Customs and CBI officials and conducted a fake three-day "interrogation" via WhatsApp and video call, threatening her with arrest for alleged involvement with fake passports, drugs, and ATM cards found in an intercepted parcel. The scammers isolated her by instructing her not to tell anyone and sent forged legal documents to coerce her into transferring money, while also pressuring her to mortgage her jewelry and take loans before she sought police verification and discovered the fraud. The Cyber Police registered an FIR against the perpetrators.
bangkokpost.com
· 2025-12-08
Police are investigating a suspected online direct sales scam involving The Icon Group, a health supplement company that used famous Thai celebrities as presenters to recruit investors and sell products, resulting in at least 15 complaints from people who invested in products but could not resell them as promised. Authorities have impounded luxury vehicles worth 120 million baht owned of suspected operators and established a complaint center for victims, with investigations ongoing to determine the extent of celebrity involvement and any violations of consumer protection regulations.
newskarnataka.com
· 2025-12-08
A 40-year-old man from Bengaluru lost ₹21 lakh in a romance and investment scam after meeting a woman named Mitra on a dating app in April. Mitra befriended him and convinced him to invest in Forex trading through a fraudulent brokerage, which initially showed returns to gain his trust before communication ceased and funds became irretrievable. The victim filed a police complaint, resulting in charges under the Information Technology Act and BNS section 318 (cheating).
securities.io
· 2025-12-08
This article identifies five prevalent cryptocurrency scams targeting victims in 2024, including phishing, fake exchanges, and Ponzi schemes. According to the Better Business Bureau, approximately 80% of Americans targeted in crypto and investment scams lost money, with a median loss of $3,800, while blockchain analysts report that scammers are adapting tactics to conduct shorter-duration, more devastating schemes. The article emphasizes that the complex nature of cryptocurrency and heightened market activity create ideal conditions for fraud, with scammers using text messages, social media, and fake platforms to manipulate victims into transferring funds.