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in Financial Crime
theconversation.com
· 2025-12-08
An 83-year-old Maryland woman named Mae fell victim to tech support fraud when she clicked a malicious link claiming to be from Apple, leading scammers posing as tech support and bank fraud personnel to convince her to purchase gift cards totaling thousands of dollars over a 10-hour period. The case illustrates a larger problem: an estimated $8 billion is stolen annually from seniors age 60 and older through stranger fraud, with gift cards increasingly becoming the preferred payment method for scammers because they lack consumer protections afforded to credit and debit cards and are easily converted to untraceable purchases or resold on dark web marketplaces. The investigation reveals that federal regulators have consistently
bbc.com
· 2025-12-08
Between January 2022 and January 2023, a "pig-butchering" investment scam targeting Chinese citizens was operated from the Isle of Man, with scammers working from the Seaview Hotel and former bank offices in Douglas. Nearly 100 Chinese workers, many transferred from the Philippines, used fast broadband and QQ messaging to lure victims into fake investment schemes where they posed as investment "teachers" and fellow investors, ultimately siphoning off millions of dollars. Six workers have since been convicted in Chinese courts for their roles in the scam, which was run by Manx Internet Commerce (MIC), part of a larger company group that also operated an online casino to exploit
liherald.com
· 2025-12-08
Nassau County police arrested two Bronx men in July 2024 after they attempted to scam a 73-year-old East Meadow resident by falsely claiming his bank account was compromised; the investigation revealed they were responsible for numerous additional scams. The county is warning residents about prevalent scams including home improvement fraud, fake relative arrest schemes, Social Security and IRS impersonation scams, lottery fraud, and computer remote access scams, which collectively cost victims thousands of dollars. Officials urge residents, particularly seniors, to remain vigilant, verify caller identities, avoid unsolicited services, and report suspected scams to authorities immediately.
irs.gov
· 2025-12-08
James Dougherty of Boise was sentenced to 41 months in federal prison for wire fraud after systematically defrauding an elderly retired schoolteacher of her 46-acre ranch and over $250,000 through a scheme involving gaining power of attorney, establishing a fraudulent trust, and selling the property to himself at below-market value. His wife, Jessica Dougherty, received three years of probation for obstruction of justice after destroying evidence on a computer while in custody. The victim, whose health had deteriorated, lost control of her finances and real property between 2015 and 2017 when the Doughertys fraudulently transferre
securityboulevard.com
· 2025-12-08
Kansas bank CEO Shan Hanes was sentenced to 24 years in prison for embezzling $47.1 million through wire transfers to cryptocurrency wallets as part of a "pig butchering" scam in which he was the victim-turned-perpetrator. His actions directly caused Heartland Tri-State Bank to collapse, resulting in $9 million in losses to investors, with the FDIC absorbing the remaining $47.1 million. Hanes circumvented internal banking controls with the help of employees to facilitate the fraudulent transfers between May and June 2023.
blockonomi.com
· 2025-12-08
On August 22, 2024, Philippine authorities arrested 99 people (67 foreign nationals and 32 Filipinos) in a raid on AIA Company, an unregistered cryptocurrency scam hub in Parañaque City that operated romance scams and fake investment schemes. Customer service representatives were coerced into posing as wealthy models to lure victims into investing in manipulated cryptocurrency platforms, with some employees forced into additional exploitative activities. Authorities seized electronic devices and are preparing charges under cybercrime and securities regulations laws.
yahoo.com
· 2025-12-08
A Portland woman fell victim to a romance scam after matching with someone on Tinder who posed as "Barton Nathan" and convinced her to send over $40,000 under the guise of needing money for visa fees, medical emergencies, and legal costs. The scammer used emotional manipulation and false promises of meeting in person to extract funds over several months before the victim realized the relationship was fraudulent. Romance scams resulted in over $1.14 billion in reported losses across more than 64,000 cases in 2023, making them the costliest type of online fraud despite being significantly underreported due to victim shame.
theverge.com
· 2025-12-08
Shan Hanes, former CEO of Heartland Tri-State Bank in Kansas, was sentenced to 24 years in prison after embezzling $47.1 million from the bank and routing it to cryptocurrency accounts controlled by pig butchering scammers. Between May and June 2023, Hanes made 11 wire transfers using stolen bank funds while also embezzling from a local church, investment club, and his daughter's college savings account, ultimately causing the bank to collapse. Pig butchering scams, which lure victims into fake cryptocurrency investments through relationship-building on messaging apps and social media, have cost victims over $75 billion globally in recent years
techtimes.com
· 2025-12-08
Shan Hanes, former CEO of Heartland Tri-State Bank, fell victim to a pig-butchering cryptocurrency scam and subsequently embezzled $47 million from the bank to fund fraudulent "investments," resulting in the bank's collapse and his conviction on embezzlement charges. Before stealing from the bank, Hanes had already victimized a local church, investor club, his daughter's college fund, and a neighbor in attempts to feed the scam. He received a 24-year prison sentence after pleading guilty to embezzlement.
androidauthority.com
· 2025-12-08
Phone scams are increasingly sophisticated and cost US consumers $2.7 billion in reported losses in 2023 alone, with numbers rising annually. The article identifies 12 common phone and text scams including the "loved one in need" (grandparent scam), government impersonation (FBI/IRS), and other fraudulent schemes that exploit emotional pressure and official-sounding tactics. Key prevention strategies include verifying caller identity through alternative contact methods, refusing to send money to unknown callers, and being skeptical of urgent payment demands, especially via wire transfers or gift cards.
dailyfly.com
· 2025-12-08
James Dougherty, 44, and his wife Jessica Dougherty, 43, of Boise, defrauded an elderly retired schoolteacher of her 46-acre ranch and over $250,000 through a scheme involving gaining financial power-of-attorney, executing a fraudulent trust naming themselves as beneficiaries, and selling the ranch to themselves at below-market value. James Dougherty was sentenced to 41 months in federal prison for wire fraud, while Jessica received three years of probation for obstruction of justice after she destroyed evidence by requesting the deletion of files from a laptop while in custody.
justice.gov
· 2025-12-08
Mavani Coleman, 44, of Brooklyn, was sentenced to three months in prison for his role in defrauding a retired New Haven woman of $479,569 through a scheme involving forged checks and unauthorized electronic funds transfers. Coleman and co-conspirators Gregory Ivy and Lamont Bethea stole checks from the victim's home, forged her signature, and used her banking information to transfer funds; Coleman personally stole $33,869 and was ordered to pay $248,423.09 in restitution. The group attempted to steal a total of $624,818.28 from the victim's account before the scheme was discovered.
latimes.com
· 2025-12-08
Fraudulent QR code stickers were affixed to approximately 150 parking meters in Redondo Beach's Esplanade and Riviera Village areas, directing users to a fake website (poybyphone.online) where they were prompted to enter payment and personal information. The scam, known as "quishing," has been used in multiple cities and can expose victims to identity theft and financial fraud; all stickers have been removed and authorities are investigating. Residents who may have been defrauded or scanned the fake codes are encouraged to contact the Redondo Beach Police Department.
govtech.com
· 2025-12-08
From January to May 2024, online fraud resulted in $1.6 billion in losses—nearly $300 million more than the same period in 2023, according to FBI Internet Crime Complaint Center data. Common scams include advance fee schemes, Nigerian letter schemes, Ponzi and pyramid schemes, telemarketing fraud, fake travel websites, and fraudulent debt collector calls using spoofed numbers and fake websites. The FBI advises victims and the public to be skeptical of unsolicited offers with artificial urgency, verify requests independently, and report suspected fraud.
aa.com.tr
· 2025-12-08
Scammers are using AI-generated deepfake videos of celebrities like Elon Musk, Donald Trump, and Jeff Bezos to defraud people, particularly elderly individuals with limited cybersecurity knowledge, by luring them into fake investment schemes promising quick returns on non-existent companies. Victims have lost substantial sums, including an 82-year-old retiree who lost most of his investments in 2023, while the technology has also been misused to impersonate real professionals like doctors to steal account information. YouTube and Facebook have removed millions of fraudulent channels and videos, though experts warn that as deepfake technology improves and becomes more convincing, organized crime groups will
mortgagebusiness.com.au
· 2025-12-08
Between January and June 2024, Scamwatch received 143,113 reports and documented over $139 million in losses, with people aged 55 and over accounting for 48.7 percent of losses despite representing only a portion of reports. A key finding shows that 30 percent of people do not report serious scams, and social media scams cost Australians $80.2 million in the previous year, with common tactics including fake accounts, fraudulent investment opportunities, and requests for personal information. Banks emphasize the importance of reporting scams and sharing awareness to collectively prevent fraud, particularly targeting vulnerable populations including older adults, non-English speakers, and people with
mk.co.kr
· 2025-12-08
A criminal organization based in Myanmar's "Golden Triangle" lured dozens of Korean men (ages 20-40s) with false promises of high-paying jobs (10-100 million won monthly), then imprisoned them in heavily guarded compounds and forced them into romance scams and stock fraud after confiscating their documents. The victims endured physical torture, threats, and forced labor for approximately 40 days until one escaped and reported the scheme to the Korean Embassy in October 2023, leading to the rescue of 19 victims and the arrest of 37 perpetrators; the estimated fraud damages exceeded 23 billion won.
mykxlg.com
· 2025-12-08
Dwayne Anderson, a 35-year-old Jamaican national, was extradited to South Dakota and appeared in court facing eight counts of wire fraud for operating a sweepstakes scam that defrauded a California woman over seven years (2010-2017). Using multiple aliases, Anderson convinced the victim she had won money and collected thousands in fraudulent fees and taxes, even persuading her to travel to Jamaica in 2017 where an additional $1,600 was collected, though she never received any winnings. Anderson faces up to 20 years per count, and the case highlights international law enforcement cooperation in prosecuting transnational elder fraud schemes.
edhat.com
· 2025-12-08
This is an educational event announcement, not a news article about a specific fraud case. Two free seminars were held on September 3, 2024, in Santa Barbara featuring David Henderson, a former major crimes supervisor and licensed private investigator with 29 years of risk assessment experience, who discussed current fraud schemes, elder abuse, and crime prevention tips for seniors. The events, hosted at two locations with refreshments, aimed to educate seniors about hidden fraud ploys and provide safeguarding strategies.
justice.gov
· 2025-12-08
Dwayne Anderson, a 35-year-old Jamaican national, was extradited to the United States and charged with eight counts of wire fraud for operating a sweepstakes scam targeting a California woman from 2010 to September 2017. Using false identities, Anderson contacted the victim repeatedly via phone, text, and email claiming she had won millions, convincing her to send thousands in supposed fees and taxes, and ultimately luring her to Jamaica in 2017 with instructions to bring $1,600 in cash—money she never recovered. Anderson faces up to 20 years in prison per count if convicted.
dispatch.com
· 2025-12-08
Amanda Prior-Grissinger, a Westerville mother and Facebook group moderator, is working to prevent scams by screening applicants to local Facebook groups and identifying suspicious fake or hacked profiles before they can target members. Her efforts were motivated after her cousin lost $1,300 in a Facebook marketplace scam selling a dining room table, and she has since created a coalition of local moderators to share information about suspected fraudulent accounts. Experts note that scammers exploit trust in small community groups and use fake identities to pose as trustworthy neighbors, with many operating as professional organized crime rings that research and share successful tactics.
kwqc.com
· 2025-12-08
The Coalition Against Financial Crime is hosting a scam awareness event on September 12 in Bettendorf, Iowa to educate financial institutions, law enforcement, and businesses about evolving fraud tactics. Common scams discussed include romance scams, check fraud, work-from-home schemes, and back-to-school scams, with experts advising the public to slow down before making financial decisions and learn to verify information to avoid victimization.
abilene-rc.com
· 2025-12-08
Detective Kevin Landers of the Abilene Police Department outlines common scams targeting seniors, including romance, lottery, sweepstakes, and government impersonation schemes where callers demand payment via gift cards or bitcoin. Seniors are frequently targeted because they tend to be trusting, have savings, own homes, and maintain good credit, though scammers prey on people of all ages. Landers recommends protecting oneself by verifying unsolicited offers online, resisting pressure to act quickly, monitoring credit reports annually, and stopping communication with suspected scammers immediately.
media.anz.com
· 2025-12-08
ANZ reported a 49% reduction in customer scam losses between October 2023 and June 2024, preventing over $100 million in funds from reaching cybercriminals, while implementing multiple protective measures including AI-based scam detection, cryptocurrency payment restrictions, and enhanced customer education. The bank identified online platforms as the most common scam source (45% of reports), followed by telephone/SMS and email, and emphasized that community awareness and victim willingness to share experiences are critical to combating increasingly sophisticated fraud schemes.
thirteen.org
· 2025-12-08
At an AARP fraud prevention summit in Edison, New Jersey, experts including AARP's Kathy Stokes challenged the misconception that older adults are the most vulnerable to phone, text, and social media fraud. The summit, attended by more than 250 people, highlighted various fraud prevention strategies and raised awareness about the actual risk factors for financial exploitation.
marinij.com
· 2025-12-08
Two defendants, Ronnie Curtis Baker and Kimberly Marie Mallory, pleaded not guilty to charges of defrauding an 80-year-old Greenbrae resident of approximately $250,000 in a financial scheme involving false contractor representation and money laundering of around $230,000. Baker, posing as a licensed contractor, and Mallory, a public notary, face multiple charges including elder theft, grand theft by false pretenses, mortgage fraud, and money laundering. The case is scheduled to return to Marin County Superior Court on September 26.
justice.gov
· 2025-12-08
Anthony Moulder and Abdou-Rahmane Diallo were sentenced to 10 and 7.5 years in prison, respectively, for operating fraudulent magazine subscription schemes that defrauded over 20,000 elderly and vulnerable victims of approximately $116.6 million between 2008 and 2020. Moulder's Florida-based companies used deceptive sales scripts and purchased consumer lists to solicit unwanted subscriptions, while Diallo's Canadian operation targeted previous fraud victims by impersonating a "magazine cancellation department" and falsely promising to eliminate their existing subscriptions in exchange for large payments. Both men pleaded guilty to fraud charges and were prosecute
wa.gov.au
· 2025-12-08
Two Western Australian victims lost over $1.4 million combined to romance scammers in recent weeks, with one victim transferring $825,000 for relocation costs and another losing at least $600,000 to a fake cryptocurrency investment scheme. The scammers employed multiple tactics including coaching victims to evade bank questions, using deepfake AI technology to manipulate video calls, and dragging victims into secondary scams as money mules and fake recovery schemes. Western Australia has recorded $2.9 million in losses across 26 romance scam victims in 2024, prompting authorities to warn people never to transfer money to online-only contacts and to be wary of love interests unw
canada.ca
· 2025-12-08
Financial abuse is the most common form of elder abuse in Canada, involving the illegal or unauthorized use of someone's money or property, and can range from outright theft (such as cashing pension cheques without permission or misusing power of attorney) to coercive tactics like pressuring someone to give away assets or sign documents they don't understand. Vulnerable older adults—particularly those who are alone, lonely, isolated, or in poor health—are at higher risk, and abusers are typically trusted individuals such as family members, caregivers, or friends who exploit their close relationships. Protection strategies include securing financial information, establishing a trustworthy power of attorney, documenting gifts and loans, obtaining independent legal advice
klkntv.com
· 2025-12-08
Jeffery Sikes, a 43-year-old former Nebraska man, was sentenced to nine years in federal prison for wire fraud schemes conducted between 2012 and 2014 that defrauded multiple businesses and individuals of $819,000 total. His largest scam targeted Speedway Properties in Lincoln, a real estate developer, which he swindled out of $507,000 by posing as a consultant for a non-existent company and using fraudulent documents to request funds for a fake commercial lab project. After pleading guilty in 2017, Sikes fled to Alabama where he assumed an alias and became involved in arson; he must complete his 18-year
startribune.com
· 2025-12-08
Two men were sentenced to prison for operating a massive magazine subscription fraud scheme that defrauded victims across all 50 states of over $300 million—the largest elder fraud conspiracy prosecuted by Minnesota federal authorities. Anthony Eugene Moulder, 63, received 10 years for owning fraudulent magazine companies that used deceptive scripts to bilk thousands of vulnerable and elderly victims out of over $86 million between 2008 and 2020, while Abdou-Rahmane Diallo, 36, received 7.5 years for posing as a cancellation service representative and collecting large payments from victims seeking to cancel unwanted subscriptions.
usatoday.com
· 2025-12-08
A 20-year nationwide telemarketing scheme defrauded over 150,000 elderly and vulnerable Americans of approximately $300 million through bogus magazine subscriptions and fake cancellation services. Anthony Eugene Moulder and Abdou-Rahmane Diallo, among 64 defendants from 14 states and Canada, were sentenced to prison (10 and 7.5 years respectively) after pleading guilty; Moulder's operation alone scammed $86.6 million by using deceptive sales scripts, while Diallo's scheme collected $30 million by posing as a cancellation service. The FBI and U.S. Postal Inspection
lawfaremedia.org
· 2025-12-08
National Public Data, a data broker, was hacked by a group calling itself "USDoD," resulting in the theft and public posting of 2.9 billion records containing names, Social Security numbers, dates of birth, addresses, family member names, and phone numbers affecting hundreds of millions of people in the U.S., Canada, and the U.K. The breach highlights four critical lessons: data brokers are incentivized to collect ever-expanding datasets for profit, large-scale data aggregation creates compounded privacy and national security risks, the data brokerage industry remains largely unregulated despite recent legislative discussions, and regulatory enforcement alone cannot adequately address the systemic problem of privacy-invasive
maryvilleforum.com
· 2025-12-08
Grandparent scams, which surge during the school year, involve scammers impersonating distressed family members to solicit emergency money from seniors, often using social media information and increasingly voice cloning technology. Law enforcement in Maryville, Missouri documented cases where seniors were deceived into sending bail money or visiting police stations, with the FBI reporting over 195 complaints and $1.9 million in losses from January to September of the previous year. Seniors are targeted because they are trusting, have financial resources, and are often reluctant to report fraud due to shame or fear of losing family confidence.
baynews9.com
· 2025-12-08
Florida ranked second in the nation for elder fraud complaints in 2023, with seniors reporting nearly $300 million in losses. A Central Florida woman lost $46,000 from her Chase Bank and nonprofit accounts after receiving a call from imposter scammers posing as bank customer service representatives who tricked her into providing verification codes. Imposter scams lead fraud cases nationwide with over $2.5 billion in reported losses, and the FBI reported an 11% increase in fraud cases involving people over 60 from 2022 to 2023.
timesofindia.indiatimes.com
· 2025-12-08
Dr. Ashok Solanki, a 66-year-old physician in Lucknow, was digitally extorted by two fraudsters posing as a courier service employee and a Mumbai DCP who falsely claimed an FIR had been registered against him for possession of contraband. The scammers held him under digital arrest at his home for 1.5 days and convinced him to transfer Rs 48 lakh ($57,600 USD) to their accounts under the pretense that RBI would investigate and return the funds. After the money was transferred in August 2024, the fraudsters ceased contact and the victim never recovered his funds, leading to an FI
justice.gov
· 2025-12-08
**Olusegun Samson Adejorin, a Nigerian national, was extradited from Ghana in August 2024 to face federal charges for a $7.5 million business email compromise scheme targeting two charitable organizations—one in Maryland and one in New York. Between June and August 2020, Adejorin gained unauthorized access to employee email accounts, impersonated staff members, and fraudulently requested fund withdrawals, successfully diverting over $7.5 million from Victim 2's investment funds. He faces up to 20 years in federal prison on wire fraud charges, plus additional penalties for identity theft and unauthorized computer access.**
justice.gov
· 2025-12-08
Madison Carrig, a 30-year-old office manager and controller at three car dealerships in Vermont, pleaded guilty to two counts of access device fraud for embezzling customer cash receipts and misusing company credit cards for personal purchases between September 2022 and November 2023. She faces up to ten years in prison and $250,000 in fines, with sentencing scheduled for January 3, 2025. The Vermont State Police investigated the case.
vintontoday.com
· 2025-12-08
Iowa State University Extension and Outreach is hosting an educational workshop titled "Stay Independent: Spot, Stop and Avoid Fraud" on September 24 to help older adults and caregivers recognize and prevent financial exploitation. The program covers common fraud types, warning signs, and protective strategies, noting that elder financial fraud is the most common form of elder abuse affecting over 50 million Americans aged 62 and older.
komando.com
· 2025-12-08
Americans over age 60 lost $3.4 billion to fraud schemes in 2023, an 11% increase from the previous year, with tech support scams being the most commonly reported type and investment scams causing the highest losses at $1.2 billion. Seniors are targeted because they typically have larger nest eggs and assets, and roughly 68% of elder fraud cases begin with personal information leaked online, with underreporting being a significant issue as many victims do not report incidents due to shame or uncertainty about how to report. Common scam types affecting seniors include tech support fraud, romance scams, government impersonation schemes, and data breaches, with warning signs including unsolicited contact
newsandsentinel.com
· 2025-12-08
Three men—two from Cleveland and one from Michigan—were indicted for stealing $30,000 from a Washington County senior citizen through an overpayment scam in July, where they posed as PayPal representatives and convinced the victim to provide a refund. The suspects are also linked to a similar $30,000 theft in Franklin County, and investigators indicate there are additional victims throughout the Great Lakes region. Law enforcement advises seniors to verify requests for money or gift cards by contacting family, friends, or local authorities before complying.
irs.gov
· 2025-12-08
Pamela Moore, a Cincinnati woman, was sentenced to 24 months in prison in August 2024 for laundering over $8 million in proceeds from online romance scams between 2020 and 2023. Moore used personal and business bank accounts, including a fake jewelry business account, to receive and convert the stolen funds to Bitcoin at the scammers' direction, personally retaining approximately $1.7 million. As restitution, Moore was ordered to pay back the $1.7 million she directly received from the laundered funds.
cbsnews.com
· 2025-12-08
Eugene Robert LeClear, a 52-year-old from Wheeling, West Virginia, was indicted for a romance scam in which he defrauded a woman of approximately $96,000 between 2022 and the time of charges. LeClear posed as a millionaire online, fabricated reasons for needing money (such as medical expenses and bail), and promised reimbursement that never came. He faces five counts of wire fraud, each carrying a potential 20-year federal prison sentence.
upi.com
· 2025-12-08
A 52-year-old West Virginia man was indicted for defrauding a woman of $96,000 through a romance scam that began in 2022, claiming he had access to millions of dollars and needed funds for medical expenses and bail. Robert LeClear repeatedly promised repayment but never followed through, and federal prosecutors charged him with five counts of wire fraud, each carrying a potential maximum of 20 years in prison.
caymannewsservice.com
· 2025-12-08
The Royal Cayman Islands Police Service (RCIPS) warned of an escalation in targeted online scams against local banking customers, including phishing calls spoofing local phone numbers and claiming to be from banks, credit card companies, or the RCIPS itself, with scammers using fraudulent links to gain computer access or requesting personal information. Additional scams reported include fake vehicle sales ads posted under "Simplicity Leasing" where victims lose deposit payments, and a case where a vehicle was sold with a hidden lien resulting in repossession. Police advised residents to verify contact directly with organizations, avoid clicking unsolicited links, and contact authorities immediately if compromised.
bradleyscout.com
· 2025-12-08
**Summary:**
On August 20, a university student fell victim to a phishing scam after receiving an email about a part-time administrative assistant position paying $350 per week. The scammer instructed her to purchase Apple gift cards and office supplies, then send pictures of the items; when the student grew suspicious and asked if she was being scammed, the perpetrator denied it and later sent a fraudulent reimbursement check for $1,830.27. The student reported the incident to campus police after being threatened by the scammer, and the exact amount lost remains unknown as she refused to deposit the fraudulent check.
kpq.com
· 2025-12-08
Law enforcement in North Central Washington warns residents about three prevalent scams: prize-winner schemes where victims are told they've won prizes (like vehicles) and pressured to pay fees, grandparent scams involving fake emergencies claiming relatives need bail money, and jury duty scams threatening arrest for failing to appear unless fines are paid immediately. The article advises victims to hang up without engaging scammers, avoid sharing personal information or sending payments, and verify claims directly with official county offices rather than responding to unsolicited calls.
goldrushcam.com
· 2025-12-08
The San Luis Obispo County Sheriff's Office presented senior fraud awareness training to the Retired Active Men (RAMs) group on August 31, 2024, providing guidance on protecting against scams targeting seniors. Key protective strategies include trusting your instincts, avoiding pressure to make quick decisions, and verifying the identity of anyone contacting you before sharing information or money.
ktvz.com
· 2025-12-08
This educational article identifies 10 common scams targeting seniors, who lose approximately $3 billion annually to fraud. The scams include romance scams, funeral fraud, grandparent impersonation schemes, phishing emails, Medicare fraud, fake tech support, and others that exploit seniors' trust, limited digital literacy, and valuable assets like homes and savings. The article provides protective advice such as setting social media accounts to private, verifying caller identities through stored contact numbers, and being skeptical of unsolicited requests for money or personal information.
cryptotvplus.com
· 2025-12-08
Cryptocurrency scammers are increasingly using "pig butchering" schemes, where fraudsters build trust with victims through dating apps and social media before directing them to fake investment platforms with false promises of high crypto returns, eventually stealing their deposits. A major scam hub in KK Park, Myanmar—operating as a human trafficking center confining over 2,000 individuals—has funneled over $100 million in scam proceeds in 2024 alone, with nearly 43% of this year's scam funds flowing to newly created cryptocurrency wallets, while perpetrators purchase fake social media profiles to enhance their deceptive tactics.