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hindustantimes.com
· 2025-12-08
Indians lost ₹120.3 crore in digital arrest frauds during the first quarter of 2024, with 46% of digital fraud cases—including digital arrests, trading scams, investment scams, and romance scams—originating from Myanmar, Laos, and Cambodia, affecting victims who lost a cumulative ₹1,776 crore. Digital arrest scams involve fraudsters impersonating law enforcement via video call, claiming victims are involved in crimes or have received illegal parcels, and demanding money to close fabricated cases. Complaint numbers have increased significantly from 4.52 lakh in 2021 to 7.4 lakh in the
ia.acs.org.au
· 2025-12-08
Former NSW Police detective Kylee Dennis launched Two Face Investigations in August 2023 after discovering her friend's 78-year-old mother was targeted by a romance scammer using stolen photos. Since inception, Dennis has investigated cases involving victims aged 50-86 who lost between $30 and over $500,000 to romance scammers, contributing to Australia's $34.3 million in romance scam losses during 2023.
bbc.com
· 2025-12-08
BBC Scam Safe Week is a multi-platform educational initiative launching programs across television, radio, and online to help the public recognize and avoid scams, which have become increasingly prevalent during the cost-of-living crisis. Expert contributors highlight that "pig butchering" romance-to-investment scams are currently the most profitable fraud scheme, with victims losing tens of thousands of pounds or more, and emphasize that people of all ages—particularly 16-34 year-olds—are vulnerable targets. The campaign stresses that self-education is essential since authorities can only convict 0.1% of fraud cases, and that scamming has become a sophisticated criminal enterprise rather than isolated incidents.
mk.co.kr
· 2025-12-08
A multinational fraud ring operating from Cambodia was dismantled when 23 men in their 40s or older were arrested for stealing 6.5 billion won (approximately $5 million USD) from 61 victims using a hybrid scam combining romance fraud and fake investment schemes. The operation, which ran from August 2023 to June 2024, used dating apps to lure male victims (predominantly in their 40s+), impersonated overseas Korean women to build trust, and then directed victims to fraudulent stock trading sites where they lost between millions to 370 million won each. The gang operated from a Cambodian casino building converted into a call center, using encrypted communications
bilyonaryo.com
· 2025-12-08
Fraud against seniors in Canada is rapidly increasing and now represents the leading crime against this population, driven by sophisticated technologies including voice simulation, AI-generated profiles, and automated phishing systems. Seniors are particularly vulnerable due to social isolation, limited digital literacy (only 26% feel confident with technology), and accessible savings, making them targets for scams like grandparent fraud ($9.4 million in losses), romance scams ($59 million in 2022), and phishing ($58 million in 2022). To protect themselves, seniors should never share personal information via unsolicited calls or messages, verify requests independently, and remain cautious of emotional appeals even when awareness campaigns exist.
interest.co.nz
· 2025-12-08
Fraud is now the leading crime against seniors in Canada, with scammers increasingly exploiting advanced technology including voice simulation, AI, and fake identities to conduct grandparent scams, romance fraud, and phishing schemes. Notable losses include $9.4 million from grandparent fraud and $59 million from romance scams in 2022 alone. Seniors remain vulnerable due to social isolation, limited digital literacy (only 26% feel confident with technology despite 67% using the internet), and scammers' ability to create emotionally manipulative scenarios that override caution and awareness campaigns.
foxnews.com
· 2025-12-08
Scammers in 2024 frequently impersonate celebrities through deepfakes and fake endorsements to defraud victims, with Scarlett Johansson, Kylie Jenner, and Taylor Swift being the top targets according to cybersecurity firm McAfee. Common scams include unauthorized use of celebrities' names and likenesses to promote fake products (health cures, cosmetics, cryptocurrency), ticket fraud, giveaway schemes, and false political endorsements. To protect yourself, verify celebrity endorsements through official channels, be skeptical of unsolicited ads using celebrity images, and report suspected scams to relevant platforms and authorities.
azfamily.com
· 2025-12-08
A Wells Fargo fraud expert warns Arizonans about evolving scams including impersonation schemes (which cost victims $2.7 billion last year), where scammers pose as bank representatives claiming card fraud and then trick victims into handing over debit cards or personal information. Additional threats include AI-powered deepfake calls mimicking family members, cryptocurrency investment scams promising quick returns, and holiday shipping scams posing as delivery services to steal tracking information.
ic3.gov
· 2025-12-08
The FBI warned the public that scammers are exploiting the 2024 US General election through multiple fraud schemes, including fake campaign investment pools promising returns, fraudulent Political Action Committees soliciting donations, non-delivery merchandise scams, and fake voter registration pages designed to steal personal information. To protect themselves, victims should avoid unsolicited contacts and unverified links, verify PAC registration through the FEC website, and check voter registration at vote.gov. The FBI urges victims to report suspicious activities to the Internet Crime Complaint Center (IC3) at www.ic3.gov, with seniors aged 60+ able to seek assistance through the DOJ Elder Justice Hotline at 1
timesofindia.indiatimes.com
· 2025-12-08
A man from Bawana, New Delhi, lost Rs 1,42,200 in an online investment scam after being recruited through a WhatsApp group that promised high returns through a "wealth program." The scammer used a fake investment app that displayed virtual profits to encourage larger deposits, then demanded a 20% withdrawal fee and eventually disabled the app and stopped responding. The cyber police registered a case and are investigating to identify and apprehend the perpetrators.
dailypioneer.com
· 2025-12-08
A "digital arrest" scam is rapidly spreading across India, where fraudsters impersonate police officers and convince victims they face legal charges, demanding money to drop fabricated cases. The scheme exploits fear and confusion by using deepfake technology, fake credentials, and authoritative impersonation to appear legitimate, with Prime Minister Modi issuing a national warning and clarifying that "digital arrest" does not exist under Indian law. Victims are advised to avoid panic, record interactions when possible, and immediately report incidents to cyber helplines and local police, while the government is urged to strengthen cybersecurity efforts and enforcement to combat the growing threat.
theglobeandmail.com
· 2025-12-08
Business impersonation scams were the most reported financial fraud in 2023, affecting approximately 332,000 victims and resulting in over $660 million in losses, according to an FTC report. These scams involve fraudsters impersonating legitimate companies or government agencies to deceive victims into revealing sensitive information, transferring money, or granting system access. Protection strategies include scrutinizing sender email addresses, being wary of urgent-sounding messages, enabling multi-factor authentication, monitoring financial accounts closely, and reporting suspected fraud to the FTC.
intelligentciso.com
· 2025-12-08
Proofpoint researchers documented a rising trend of cryptocurrency scams targeting job seekers through fake employment offers, often impersonating legitimate companies and communicated via social media, SMS, and messaging apps. These "Pig Butchering" variant scams exploit psychological vulnerabilities to pressure victims into making payments after performing fake tasks, with one fraudulent website impersonating Daptone Records netting over $300,000 in two months. To protect themselves, job seekers should remain skeptical of unsolicited offers, never send money to supposed employers, and verify opportunities through official company channels.
usatoday.com
· 2025-12-08
Americans lost an estimated $12.5 billion to online scams in the past year, with the FBI reporting that 39% of victims were targeted through AI-generated "deepfake" videos used in investment schemes, romance scams, and other frauds. Scammers are increasingly using artificial intelligence to duplicate voices, create convincing fake videos of business leaders and celebrities, and attempt account breaches, making these crimes harder to detect and recover from, as 96% of reported losses are never recovered. The article recommends using strong passwords, two-factor authentication, and watching for telltale signs of deepfakes such as unnatural facial movements, inconsistent lighting, and audio irreg
sbs.com.au
· 2025-12-08
Scam-related complaints to Australia's Financial Complaints Authority surged 81 percent in 2023-24, with nearly 11,000 complaints filed, as Australians lost a combined $2.7 billion to various fraud schemes including phishing, spoofing, bank impersonation, romance, and investment scams. The report also found financial hardship complaints rose 18 percent amid cost of living pressures, with First Nations people experiencing disproportionate impacts due to systemic barriers including limited digital access and reduced banking services in regional areas. Many victims never recover their lost funds, and financial hardship complainants often face slow or inadequate responses from institutions.
ceotodaymagazine.com
· 2025-12-08
Cybersecurity Awareness Month highlights the critical importance of protecting against cyber threats, which are predicted to cost the global economy over $6 trillion in 2024. The article outlines common scams including phishing, spear phishing, tech support fraud, online shopping scams, investment scams, ransomware, romance scams, and lottery schemes. Key protective measures include educating yourself and others, using strong unique passwords, enabling two-factor authentication, verifying sender information, and remaining vigilant about unsolicited requests for personal information.
santaclaritamagazine.com
· 2025-12-08
This educational article discusses the growing threat of senior scams and identifies common tactics used by scammers, including impersonation, fake charities, sweepstakes/lottery schemes, romance scams, and fraudulent investment offers. The article attributes the rise in senior scams to increased isolation, digital communication channels, and cognitive decline that make elderly individuals more vulnerable to manipulation. To protect seniors, the article emphasizes the importance of community awareness programs, educational campaigns, and open family communication to help elderly individuals recognize and avoid scam tactics.
paymentsjournal.com
· 2025-12-08
AI-powered scams doubled in the past year, resulting in over $108 million in losses to Americans, with nearly half of AI scams resulting in financial losses averaging $14,600—significantly higher than the 28% success rate of non-AI fraud. Investment scams caused the largest average losses at $55,000 per victim, followed by imposter scams, while online shopping and negative review scams were most frequent. Consumers aged 30-39 were most vulnerable to AI scams, which exploit deepfakes, voice cloning, and urgent messaging tactics, though experts emphasize that education and real-time AI detection by financial institutions can help prevent victimization.
bbc.com
· 2025-12-08
A photographer in West Yorkshire fell victim to a parking app scam after scanning a QR code at a council car park, paying 90p to verify his bank details but then being charged £39 for an unauthorized subscription he was unable to recover. The Chartered Trading Standards Institute reports that parking scams using fraudulent apps, fake QR codes, and bogus penalty notices have become increasingly common, with Action Fraud receiving 2,600 parking-related reports in one year—double the 2022 figures—with incidents reported across the UK from Bournemouth to Aberdeen. Experts advise people to avoid scanning QR codes outside controlled environments and to contact their bank immediately if targete
detroitnews.com
· 2025-12-08
Federal agents are investigating an $8 million gold bar scam targeting elderly victims across the United States, with two of five alleged conspirators arrested in Metro Detroit. The scheme, which began in February 2024, involved falsely claiming victims' bank accounts were compromised to convince them to purchase gold bars that were then handed over to scam operatives, with at least two suspects living in the country illegally.
justice.gov
· 2025-12-08
Everette Jhamal Thibou, 32, of Tampa, Florida, was sentenced to 168 months in prison as the sixth defendant in an international fraud scheme that defrauded 50 elderly victims of $11 million across West Michigan and the country. The scam used fake virus warnings and impersonations of tech companies and federal agents to trick victims into sending cash, wire transfers, and gift cards through various methods. Thibou and five other U.S.-based defendants collected fraud proceeds on behalf of scammers located in India, with a seventh defendant still at large.
madvalleycurrent.com
· 2025-12-08
An elderly victim in Ontario lost nearly $10,000 after being contacted by phone and directed to deposit money into a cryptocurrency ATM with promises of high investment returns that never materialized. Fraudsters often create fake cryptocurrency investment companies with convincing websites and fake testimonials to pressure victims into making increasingly large deposits. The OPP advises the public to be wary of abnormally high return promises, verify company legitimacy through business registries, never share cryptocurrency private keys, and report suspected fraud to local police or the Canadian Anti-Fraud Centre.
regtechtimes.com
· 2025-12-08
Three Georgia residents—Patrick Dallas, Stacey Robinson, and Owen Demoy Byfield—were charged in federal court for operating a sweepstakes fraud scheme targeting seniors across at least ten states, including Rhode Island, stealing at least $1 million. The fraudsters impersonated Publishers Clearing House representatives, convincing victims they had won large prizes and pressuring them to pay upfront fees via cash, gift cards, or valuable items; one 77-year-old Rhode Island victim nearly lost $163,000 before a FedEx employee's intervention alerted him to the scam. The defendants face charges for conspiracy to commit mail and wire fraud, as well as money laundering
ncoa.org
· 2025-12-08
Deepfakes are AI-generated videos, photos, and audio that realistically fabricate or alter someone's likeness, increasingly used by criminals to execute scams targeting older Americans, who lost $3.4 billion to fraud in 2023. Common deepfake scams include investment schemes (such as an 82-year-old losing $690,000 to a fake Elon Musk video), romance scams (with victims in Hong Kong losing over $46 million), political misinformation, extortion/grandparent scams (which generated over $13 million in losses from 2020-2021), and celebrity endorsement frauds. Understanding
sbs.com.au
· 2025-12-08
The Australian Competition and Consumer Commission is suing telecommunications company Optus for engaging in unconscionable conduct by selling unwanted phone products to hundreds of vulnerable customers, including First Nations people from remote areas and individuals with disabilities or financial disadvantages, then pursuing them for resulting debts. Additionally, scam-related complaints in Australia reached a record high, with an 81% increase in complaints to the Australian Financial Complaints Authority in 2023-2024, with phishing, spoofing, remote access scams, bank impersonation scams, and romance scams being the most prevalent types.
newskarnataka.com
· 2025-12-08
**Summary:**
A woman government engineer in Bengaluru was defrauded of ₹80,000 by a man impersonating an assistant to Karnataka's IT Minister, who falsely promised help securing a job posting and used threats to extort money. The accused remains at large as police investigate under charges including impersonation of a public servant and cheating. This incident reflects a broader fraud trend in Karnataka, with Indian authorities reporting over 7.4 lakh fraud complaints in the first four months of 2024 alone, totaling significant financial losses across trading, investment, and romance scams.
thenewsenterprise.com
· 2025-12-08
Since 2020, the Better Business Bureau has received over 4,000 reports of investment scams, with cryptocurrency-based schemes increasingly migrating to social media platforms like TikTok where scammers quickly build trust and solicit money. These scams typically begin with fake investment opportunities promising rapid returns; victims are directed to send funds via digital wallet services, after which scammers either disappear or demand additional "service fees" while claiming to multiply the initial investment. To avoid such scams, consumers are advised to use good judgment (legitimate investments rarely guarantee huge returns), research contacts and companies thoroughly before engaging, refuse intimidation tactics, treat digital wallet transfers as irreversible cash, and report suspected sc
ncoa.org
· 2025-12-08
AI-powered scams represent an emerging threat to consumers, particularly older adults, utilizing artificial intelligence tools to create highly convincing impersonations and fraudulent messages at scale. Scammers employ four main tactics: voice cloning to impersonate family members or authority figures, deepfake videos to pose as public figures, sophisticated phishing emails that bypass spam filters, and fake websites promoting fraudulent investments. The FBI has warned that as AI technology advances, cybercriminals' ability to execute personalized, authentic-seeming fraud campaigns will continue to increase.
justice.gov
· 2025-12-08
Viraj Patel, a money mule operating in Florida, was sentenced to 3 years and 10 months in federal prison for laundering at least $216,000 in proceeds from government-imposter fraud schemes targeting senior citizens. Patel picked up cash and gold from victims who had been deceived by India-based conspirators into believing their identities were compromised, including one victim who was tricked into surrendering $71,000 and later $50,000 in a single scheme. The court ordered Patel to forfeit $145,000 in traceable fraud proceeds.
bankingjournal.aba.com
· 2025-12-08
In 2023, older Americans reported $1.9 billion in fraud losses to the FTC, though the actual figure is estimated at $61.5 billion when accounting for underreporting. Adults ages 60 and older experienced higher median losses than younger groups (ranging from $500 for ages 60-69 to $1,450 for ages 80+) and were significantly more vulnerable to tech support scams (5x more likely), sweepstakes scams (3x more likely), and impersonation scams, with investment scams and cryptocurrency payments causing the largest losses.
renfrewtoday.ca
· 2025-12-08
An elderly victim lost nearly $10,000 in a cryptocurrency investment scam after a phone caller promised high returns and directed them to deposit money into a cryptocurrency ATM. The Upper Ottawa Valley Detachment warns that scammers use fake companies with professional websites and high-pressure sales tactics to fraudulently solicit investments. To protect against such schemes, individuals should be skeptical of unusually high returns, research company legitimacy, never share cryptocurrency wallet credentials, and report suspected fraud to local police and the Canadian Anti-Fraud Centre.
pressdemocrat.com
· 2025-12-08
Alfred Mancinelli, a 79-year-old widower, lost approximately $1 million in retirement savings and his granddaughter's college fund to romance scammers impersonating professional wrestler Alexa Bliss and others over several years. Despite his son Chris's attempts to intervene and protect his assets, Alfred remained convinced he was in a genuine romantic relationship and even sued his son, demonstrating how romance scams isolate victims and make them resistant to help. The case illustrates a broader trend where older Americans are disproportionately targeted for costly online scams, with Americans losing an estimated $652 million to romance and confidence scams in 2023 alone.
bbc.com
· 2025-12-08
Hundreds of people were scammed by a fake NHS dental practice website in Lincoln that collected personal data including passport numbers and upfront payments for non-existent appointments. The sophisticated scam exploited the desperation of people seeking NHS dental care by using a hijacked dentist's identity and a non-existent building address, with similar fraudulent websites operating in Norfolk and West Yorkshire. Victims like Paul Bowring faced identity theft concerns and incurred costs such as £200 for passport replacement, while Trading Standards warned that the scam affected people of all ages and recommended using official NHS resources and verifying legitimacy before sharing personal information.
shows.acast.com
· 2025-12-08
Americans lost an estimated $12.5 billion to cyber fraud in the previous year, according to FBI data, as criminal scamming operations have become increasingly sophisticated and lucrative. The article explores the emergence of "scam-baiters"—vigilante anti-scammers who use YouTube videos and viral content to combat fraud—while investigating the ethical complexities of this form of self-policing in an international enforcement landscape that often seems inadequate to address the problem.
timesofindia.indiatimes.com
· 2025-12-08
Two Bengaluru residents lost a combined Rs 1.06 crore to online trading scams involving deepfake videos of Infosys co-founder Narayana Murthy and Reliance chairman Mukesh Ambani promoting fake trading platforms like "FX Road." One victim (Veena KG, 57) lost Rs 67.1 lakh between September-October to the trading scam and an additional work-from-home job fraud on Instagram/Telegram, while a retired man (Asok Kumar TS) lost Rs 19 lakh; both cases have been registered under IT Act and BNS sections for cheating and person
firstpost.com
· 2025-12-08
Fraud is now the leading crime against seniors in Canada, with sophisticated scams exploiting technological vulnerabilities and seniors' social isolation. Common schemes include grandparent fraud ($9.4 million in losses from 2,494 victims), romance scams (Canadians lost $59 million in 2022), and phishing attacks ($58 million in losses in 2022), all enhanced by AI and voice simulation technology. Despite widespread awareness campaigns, seniors remain vulnerable due to lower digital confidence (only 26% feel very confident with technology) and emotional manipulation that overrides caution.
business-live.co.uk
· 2025-12-08
HSBC UK has alerted nearly two million customers, particularly those over 65, about a gold impersonation scam where criminals pose as police or bank officials to convince victims to purchase gold and hand it over under the pretense of safekeeping or evidence collection, with victims losing hundreds of thousands of pounds. The bank reports a significant surge in scam activity between July and September 2024, including investment fraud (averaging £33,739 losses), bank/police impersonation (averaging £20,772 losses), and romance scams (averaging £31,000 losses), with September 2024 marking the highest rate of scam incidents in the past year.
ckom.com
· 2025-12-08
Saskatoon Police Service warned the public about "pig butchering" cryptocurrency scams, which begin with unsolicited contact via text, email, or dating apps and use romance and fake investment promises to defraud victims. Fraudsters gain trust, direct victims to fraudulent investment platforms showing false returns, then demand additional fees before cutting off contact, often leaving victims with losses of tens or hundreds of thousands of dollars. Police advise Canadians to avoid unsolicited investment offers, consult registered financial professionals, and report suspected fraud to the Canadian Anti-Fraud Centre and local authorities.
commbank.com.au
· 2025-12-08
This article identifies the five most common scams affecting Australians: investment scams (where fake ads lead to fraudulent investment offers), remote access scams (where scammers gain device access via phone impersonation), romance scams (involving fake online identities and requests for money), phishing (fraudulent emails/texts impersonating legitimate sources), and payment redirection scams (using fake email addresses to redirect business payments to fraudulent accounts). The article provides descriptions of how each scam operates and warning signs to watch for, serving as an educational guide for consumers to recognize and avoid these fraud schemes.
thehindu.com
· 2025-12-08
A 63-year-old man from Hyderabad lost ₹50 lakh (approximately $60,000 USD) to a stock trading scam that began when he joined a WhatsApp "Stock Discussion Group" promoted by a fraudster claiming to be financial expert Kunal Singh. The scammer lured the victim through fake online classes promising high returns, then directed him to invest through a fraudulent platform called Skyrim Capital, using multiple bank accounts and beneficiary names for each transaction. The victim filed a complaint with Hyderabad cyber crimes police after realizing the fraud.
theregister.com
· 2025-12-08
Shan Hanes, CEO of Heartland Tri-State Bank in Kansas, was sentenced to 24 years in prison after embezzling $47.1 million from the bank, a local church, and an investment club in an 8-week period after being lured into a "pig butchering" cryptocurrency scam via WhatsApp. The scam crashed the bank and devastated the small city of Elkhart; the FBI recovered approximately $8 million in stolen funds that will be returned to victims. Hanes exploited his position of trust and 30-year tenure at the bank to authorize fraudulent wire transfers without serious oversight.
theglobeandmail.com
· 2025-12-08
Scammers are increasingly using artificial intelligence—including deepfakes, convincing emails, and fake trading bots—to perpetrate investment fraud, with a Canadian study showing people invested 22% more in AI-enhanced scams compared to traditional ones. Vulnerable populations include elderly investors, recent immigrants, and younger self-directed investors, with documented cases including a man from Barrie, Ontario who lost $11,000 to a deepfake video of Justin Trudeau in September 2023. The Ontario Securities Commission found that investor education about warning signs reduced AI scam investments by 10%, while technology-based detection tools proved most effective, reducing fraudulent investments by nearly one-
lifehacker.com
· 2025-12-08
Last year saw 2.6 million fraud reports with $10 billion in losses, as scammers employ psychological manipulation tactics to deceive victims. The article identifies three primary techniques scammers use: impersonating authority figures to exploit deference, creating time pressure and artificial scarcity to trigger emotional responses, and using incremental requests (foot-in-the-door) to gradually escalate victim cooperation. Awareness of these tactics—such as recognizing that legitimate authorities welcome verification and that legitimate businesses never demand snap decisions—can help people protect themselves from Romance Scams, Impostor Scams, Delivery Scams, and similar frauds.
justice.gov
· 2025-12-08
A 21-year-old South Boston man was indicted for his role in an elder fraud conspiracy that defrauded a 75-year-old Berkshire County victim of approximately $500,000 between February and October 2024. The scheme involved a co-conspirator impersonating a U.S. Treasury Department official who convinced the victim to withdraw cash and hand it to couriers using prearranged passpins; the defendant was arrested while attempting to collect one of the cash boxes. The charge of conspiracy to commit wire fraud carries a potential sentence of up to 20 years in prison.
wral.com
· 2025-12-08
North Carolina Attorney General Josh Stein warned voters to avoid multiple scams around Election Day, including fake poll closure notices, false claims that voting can occur via text or email, and absentee ballot scams requesting fees. Additional threats include polling scams requesting sensitive information and "campaign investment pool" schemes falsely promising returns on donations if a candidate wins. Residents should report suspected election scams to the NC Consumer Protection Division at www.ncdoj.gov/complaint or 1-877-5-NO-SCAM.
realclearmarkets.com
· 2025-12-08
Truth Social users lost hundreds of thousands of dollars to various scams on the platform, primarily involving cryptocurrency schemes, highlighting broader fraud vulnerabilities across social media and digital payment systems. The article argues that Senator Elizabeth Warren's "Protecting Consumers from Payment Scams Act" would be ineffective and counterproductive, as it would force banks to reimburse users for authorized P2P payments made through platforms like Zelle and Venmo, potentially incentivizing scammers to target these services more aggressively while raising costs for legitimate users. The piece contends that while payment platforms have robust safety tools, Congress cannot legislatively prevent consumer mistakes in complex fraud schemes.
indiatvnews.com
· 2025-12-08
A 63-year-old man in Hyderabad lost ₹50 lakh after joining a fraudulent "Stock Discussion Group" on WhatsApp where a scammer posed as financial advisor "Kunal Singh," promised unrealistic returns, and funneled him to a fake platform called "Skyrim Capital." Simultaneously, scammers in Bengaluru used deepfake videos of prominent business figures Narayana Murthy and Mukesh Ambani to defraud elderly investors, with victims like Ashok Kumar losing ₹19 lakh. Authorities warn senior citizens to avoid unverified financial groups on social media, verify investment advisors
indiatoday.in
· 2025-12-08
A 63-year-old man from Hyderabad lost Rs 50 lakh after joining a WhatsApp group called "Stock Discussion Group" where a scammer posing as financial advisor Kunal Singh promised returns as high as 500 percent and directed victims to invest through a fraudulent platform called Skyrim Capital. The victim was initially shown small profits to build confidence, then pressured to make increasingly larger investments across multiple accounts before discovering the scam when withdrawal requests were denied. The article advises elderly individuals to avoid investment groups on messaging platforms unless verified, to be wary of guaranteed high returns, and to consult certified financial advisors before investing.
livemint.com
· 2025-12-08
A 63-year-old man from Hyderabad lost ₹50 lakh after being recruited into a fraudulent stock market scheme via WhatsApp, where a scammer posing as financial advisor "Kunal Singh" promised exceptional returns and directed victims to invest through a fake platform called "Skyrim Capital." The article also documents two separate cases in Bengaluru where victims lost money (including ₹19 lakh) after being deceived by deepfake videos featuring prominent business figures promoting fraudulent trading platforms. Authorities advise elderly citizens to avoid joining unverified investment groups on messaging apps and recognize guaranteed high returns as a major red flag.
newsbytesapp.com
· 2025-12-08
India is experiencing a surge in online scams targeting elderly citizens, with a 63-year-old Hyderabad man losing ₹50 lakh after being deceived by a fake stock market scheme on WhatsApp that promised unrealistic returns through fabricated profits and false endorsements from a fraudulent platform called "Skyrim Capital." Scammers are also increasingly using deepfake videos of prominent business leaders to lure victims into trading platform scams, with two Bengaluru residents losing significant amounts after being convinced by manipulated videos purporting to show endorsements from Narayana Murthy and Mukesh Ambani. Authorities recommend that elderly individuals avoid unver