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in Crypto Investment Scam
brigadanews.ph
· 2025-12-08
At age 80, Priscilla Presley filed a lawsuit in July 2024 against memorabilia dealer Brigitte Kruse and alleged co-conspirators, claiming they manipulated her into signing over approximately 80 percent of her earnings—worth more than $1 million—through financial fraud and elder abuse, including isolation from key relationships and systematic bank account draining. Presley was reportedly within two months of financial collapse when the suit was filed, and the case is proceeding in California with additional hearings scheduled for June and July. Kruse has countered that she assisted Presley during financial difficulties when the former actress owed over $700,000 in unp
gulfnews.com
· 2025-12-08
Pakistani authorities launched "Operation Grey," a major crackdown targeting a transnational cybercrime network involving individuals from over ten countries who perpetrated multibillion-rupee online fraud through illegal gambling apps, loan scams, call centres, and fake investment platforms. The investigation led to arrests including a woman and bank manager, recovery of Bitcoin and foreign currency, and exposed suspicious transactions across 36 company accounts, with the operation being monitored at the highest government levels due to its scale and complexity. The FIA plans to expand the nationwide operation post-Eid holidays to dismantle remaining illegal call centres involved in cyber fraud.
dailyhodl.com
· 2025-12-08
A 73-year-old Wells Fargo customer in North Carolina lost $61,000 to an impostor scam that began with a fake virus warning pop-up, which directed her to call a fraudulent Apple Care number. The scammers posed as Apple and Wells Fargo representatives, convincing her that her accounts were compromised and instructing her to withdraw cash and convert it to Bitcoin over several days. The victim became suspicious when the scammers asked her to meet at a police station to recover funds and reported the incident to the sheriff's office, which is investigating the case.
wbay.com
· 2025-12-08
Americans receive approximately 50 billion nuisance and scam calls annually, with scammers responsible for roughly 30 billion of those calls and text messages. The article provides seven key ways to identify scam calls and texts, including checking the official organization's website, understanding what legitimate organizations will and won't do (such as the IRS never calling without sending a letter first), and recognizing common scam characteristics like pressure to act quickly and requests for personal information. While robocalls have declined somewhat since the TRACED Act gave regulators new enforcement tools, individuals remain primarily responsible for protecting themselves from these increasingly common scams.
m.economictimes.com
· 2025-12-08
An Indian Master's student at Indiana University Bloomington lost $5,000 in gift cards to scammers impersonating ICE and police officers who threatened her with arrest and deportation over a three-hour phone call in May. The scammers used spoofed phone numbers, detailed personal information about her, and psychological manipulation to coerce her into purchasing Apple and Target gift cards before disappearing without following through on promised bond papers. The victim emphasized that legitimate government agencies never call directly or request gift cards, and she advised international students to hang up and contact a lawyer rather than comply with such demands.
rismedia.com
· 2025-12-08
A "pig butchering" cryptocurrency scam has targeted at least 40 real estate professionals, where fraudsters pose as wealthy cash buyers, build trust with agents, and gradually convince them to invest in fake cryptocurrency platforms that appear legitimate before disappearing with their money, often including victims' retirement accounts. The U.S. Secret Service warns that these scams, which originated in China around 2016, are likely to increase and recommends victims report incidents to the FBI's IC3.gov within 72 hours for the best chance of asset recovery.
wosu.org
· 2025-12-08
Ohio seniors filed 302 scam and fraud complaints to the Division of Securities in 2024, a 22% increase from 2023, with the state experiencing over $64 million in elder fraud losses in 2023 alone. The most prevalent scam targeting older Ohioans is the romance scam, where international criminals use dating apps to build relationships and eventually persuade victims to invest in cryptocurrency by liquidating retirement accounts or refinancing homes, with funds directed to fictitious platforms. Investigators urge seniors to report suspicious propositions to trusted contacts, verify financial institution communications independently, and report suspected fraud to local police and the Ohio Division of Securities.
manxradio.com
· 2025-12-08
The Isle of Man Cyber Security Centre reported a surge in digital fraud from March to April, including over 700 suspicious emails, advance fee scams, phishing attempts, and impersonation schemes targeting residents and businesses through fake websites and social media accounts. Notable cases included a romance scam that escalated to sextortion (£1,500 + £4,000 demanded), deepfake videos impersonating politicians promoting cryptocurrency fraud, business invoice fraud costing £9,000, and marketplace scams resulting in losses ranging from £850 to £965. The Centre advised residents to verify financial claims through official sources and businesses to rely on their own websites rather than social media platforms where impersonation
bitcoinke.io
· 2025-12-08
A 25-year-old woman and her 22-year-old brother in Lagos were arrested for orchestrating a romance fraud scheme that resulted in the theft of three iPhones and $10,000 worth of bitcoin from the victim, with authorities recovering $4,300 in cash and still pursuing additional accomplices. The case exemplifies a growing trend of romance-based cryptocurrency scams in Nigeria and globally, where perpetrators exploit emotional trust to steal digital assets that are difficult to trace and reverse. The article emphasizes that cryptocurrency's anonymity, speed, and lack of traceability make it an attractive tool for fraudsters, and recommends victims avoid sharing crypto wallet information, resist emotional pressure to sen
news.ltn.com.tw
· 2025-12-08
Taiwan's Criminal Investigation Bureau reported a sharp rise in romance scams, with nearly 1,000 cases and over NT$260 million (US$8.68 million) in losses in May 2025. Two cases illustrate common tactics: a man lost NT$80,000 after being tricked into paying "verification fees" to meet an online woman, and a woman transferred NT$293,500 to someone posing as a military doctor who claimed to need money for his son's medical emergency. The bureau warned that requests for money from online romantic interests are definitive signs of scams and urged people to avoid downloading investment apps or believing promises of quick profits from strangers.
wyso.org
· 2025-12-08
Ohio seniors reported 302 scam and fraud complaints to the Division of Securities in 2024, a 22% increase from 2023, with the state experiencing over $64 million in losses according to FBI data. Romance scams targeting older adults have grown significantly, with perpetrators using dating apps to build relationships before convincing victims to invest in cryptocurrency by liquidating retirement accounts or refinancing homes, with funds directed to fraudulent exchanges. Investigators advise seniors to verify any claims about compromised accounts directly with financial institutions, avoid secrecy in relationships, and report suspected fraud to local police and the Ohio Division of Securities at 614-644-7381.
taipeitimes.com
· 2025-12-08
Internet romance scams are surging in Taiwan, with nearly 1,000 reported cases and over NT$260 million (US$8.68 million) in losses in one month. Victims are typically manipulated by scammers posing as romantic interests who eventually request money for "verification fees," loans, or investments under false pretenses, as exemplified by cases where victims lost NT$80,000 and NT$293,500 respectively. The Criminal Investigation Bureau advises that any request for money from online romantic contacts is a definitive sign of fraud and recommends victims contact anti-fraud hotlines immediately.
bostonglobe.com
· 2025-12-08
Teresa Rogg, a 74-year-old Massachusetts resident, lost approximately $140,000 from her retirement account after falling victim to an evolving "phantom hacker" scam that began with a fake security pop-up and escalated to in-person cash pickups over two months. The scammers convinced her that suspicious activity had been detected on her accounts and instructed her to withdraw cash and hand it to couriers using code words, while also sending fraudulent letters impersonating the Federal Deposit Insurance Corporation. Tech support scams in Massachusetts have surged dramatically, with reported losses increasing from $1.2 million in 2019 to over $50 million in the most
bleepingcomputer.com
· 2025-12-08
Five men from China, the United States, and Turkey pleaded guilty to operating an international cryptocurrency investment scam ring that stole nearly $37 million from U.S. victims through fake digital asset schemes conducted from Cambodia. The perpetrators contacted victims via social media, dating services, and phone calls, falsely claiming their investments were growing while actually stealing their funds and laundering the money through shell companies, international bank accounts, and cryptocurrency conversions in the Bahamas. Eight co-conspirators have pleaded guilty so far, with charges carrying maximum penalties of 20 years for money laundering conspiracy.
justice.gov
· 2025-12-08
Acting U.S. Attorney Carol M. Skutnik issued a press release for Elder Abuse Awareness Month highlighting the prevalence of financial scams targeting seniors in the Northern District of Ohio, including cryptocurrency, lottery, grandparent, romance, government impersonation, money mule, and tech support schemes. The statement emphasized that scammers use unsolicited communications and fraudulent tactics to exploit seniors' savings, with some victims losing their entire life savings, and urged vigilance and reporting through the FBI and Department of Justice resources.
malwarebytes.com
· 2025-12-08
Scammers increasingly use artificial intelligence and social engineering tactics to defraud people online, but victims can limit damage by acting quickly. The article provides ten recommended steps for scam victims: stop communicating with the scammer, secure all online accounts with strong passwords and multi-factor authentication, monitor financial statements for fraud, avoid sponsored search results when seeking help, place fraud alerts with credit bureaus, attempt fund recovery through chargebacks or bank recalls, gather evidence of the scam, scan devices for malware, report to authorities and relevant platforms, and implement ongoing security protections.
hometownstations.com
· 2025-12-08
Acting U.S. Attorney Carol M. Skutnik announced that the Northern District of Ohio is committed to combating financial fraud targeting seniors during Elder Abuse Awareness Month in June, noting that scammers use unsolicited communications and impersonation tactics to steal victims' life savings. The office highlighted common scams affecting older adults, including cryptocurrency schemes, lottery scams, grandparent scams, romance scams, government impersonation schemes, money mule operations, and tech support frauds, and urged seniors to remain vigilant while offering FBI and Department of Justice resources for reporting elder financial abuse.
hometownstations.com
· 2025-12-08
Acting U.S. Attorney Carol M. Skutnik highlighted Elder Abuse Awareness Month in June and emphasized the U.S. Attorney's Office commitment to combating financial fraud targeting seniors, noting that scammers use unsolicited communications and impersonation tactics to exploit older adults' savings. The office outlined common scams affecting seniors including cryptocurrency schemes, lottery fraud, grandparent scams, romance scams, government impersonation, money mule recruitment, and tech support fraud, and recommends vigilance and reporting suspected elder financial abuse to the FBI or Department of Justice.
mashable.com
· 2025-12-08
In 2025, text-based scams have become the most prevalent threat, with the E-ZPass scam leading the way—fraudsters send texts falsely claiming unpaid tolls and threatening license suspension to create urgency and trick recipients into clicking malicious links. Other major scams include DMV impersonation texts using similar tactics, fake job offer texts posing as employers or Indeed itself, and fraudulent Joann Fabric advertisements on Facebook and Pinterest directing users to counterfeit websites. The FTC recommends never clicking links or engaging with suspicious messages, contacting relevant agencies directly to verify claims, and reporting scams rather than responding to them.
aol.com
· 2025-12-08
An Evanston, Illinois woman lost $62,000 in a cryptocurrency investment scam after spending six months communicating with someone impersonating Yellowstone actor Kevin Costner on Telegram, who convinced her that gift card purchases would generate cryptocurrency profits. The scam was confirmed to be part of a long-running cryptocurrency ring active since at least 2018, with police stating that arrest and fund recovery are unlikely. The FTC advises verifying celebrity identities through research, consulting trusted sources before sending money, and reporting fraud to both financial institutions and authorities.
trt.global
· 2025-12-08
Nine Chinese nationals were convicted in Lagos, Nigeria and sentenced to one year in prison plus fines of approximately $630 each for their involvement in cryptocurrency investment and romance scams targeting international victims. The arrests were part of a December raid on a fraud operation in Victoria Island that netted 792 suspects total, with authorities seizing computers, mobile phones, and other equipment used in the scheme. The gang recruited Nigerian accomplices to conduct phishing scams primarily targeting Americans, Canadians, Mexicans, and Europeans.
quickcountry.com
· 2025-12-08
An Evanston, Illinois woman lost $62,000 over six months to a Kevin Costner impersonator on Telegram who claimed to be offering cryptocurrency investment returns through gift card payments. The scammer, part of an ongoing cryptocurrency fraud ring active since at least 2018, never returned any funds, and police indicated arrest is unlikely due to the crime's nature. The FTC advises potential victims to verify celebrity identities through Google searches, consult trusted contacts before sending money, and avoid gift cards, which offer minimal buyer protections and are largely irreversible.
newsmeter.in
· 2025-12-08
A 38-year-old businessman in Ranga Reddy, Hyderabad, lost nearly Rs 2 crore in a cryptocurrency investment scam after being lured through WhatsApp by a person claiming to be Satish Dubey who promised high returns. The scammer used fake profit screenshots and escalating investment requests (starting with Rs 9 lakh, then Rs 13.5 lakh, then Rs 1.35 crore for "VIP-1 status"), and later claimed the exchange platform was hacked; when the victim traveled to Delhi to meet the scammer in person, he was directed to another fraudster who convinced him to invest an additional Rs
americanbazaaronline.com
· 2025-12-08
Pranav Patel, 33, from New Jersey, was sentenced to 75 months in prison and ordered to forfeit nearly $2 million for his role as a money mule in a government impersonation scam targeting senior citizens between October and December 2023. Patel picked up cash and gold from victims across the East Coast who had been fraudulently told by overseas call center operators posing as Treasury Department officials that they faced arrest warrants or needed to surrender assets for safekeeping. One victim was forced to sell his house and rely on Social Security after losing his savings in the scheme, which resulted in approximately $1.79 million in laundered fraud proceeds.
states.aarp.org
· 2025-12-08
AARP Illinois is offering a free two-part virtual educational series called "Fraud Watch 101" scheduled for June 23rd and 27th to help older adults recognize and avoid scams. The program covers common fraud tactics, emerging threats like cryptocurrency scams, red flags in suspicious communications, and psychological manipulation techniques used by fraudsters. This is an awareness and educational initiative designed to equip seniors and their families with knowledge to protect themselves from fraud.
wsbtv.com
· 2025-12-08
A retired Gwinnett County couple, Jerry and Mindy Dunaway, lost $802,000 to a sophisticated cryptocurrency scam after being contacted via WhatsApp and directed to a fraudulent investment platform that used fake transaction displays and malware to deceive them. The FBI reports that similar scams have stolen over $50 billion nationally in the past four years, with seniors being particularly vulnerable, and the couple is now publicly warning others to avoid unsolicited investment messages and verify platforms through trusted sources.
fox5atlanta.com
· 2025-12-08
A retired Georgia couple lost nearly $800,000 in a sophisticated cryptocurrency scam after a stranger contacted Jerry Dunaway on WhatsApp and directed him to a fraudulent trading app that displayed fake returns through an AI-generated "ghost site." The scammers built trust by allowing small initial withdrawals before preventing access to the account, leaving the couple financially devastated and unlikely to recover their funds according to police investigators.
wideopencountry.com
· 2025-12-08
**Summary:**
An Evanston, Illinois woman lost approximately $62,000 to a scammer impersonating Kevin Costner over six months, sending gift cards via Telegram after being convinced the funds would be invested in cryptocurrency. The victim is unlikely to recover her money, as gift card purchases cannot typically be reversed, and police stated an arrest is highly unlikely. This represents part of a growing trend of celebrity impersonation scams, including a similar $350,000 case involving someone posing as Vince Gill, which the Federal Trade Commission has warned the public about since 2018.
wfmj.com
· 2025-12-08
The Ohio Attorney General's office held an educational conference in Warren addressing growing scam threats targeting seniors, including cryptocurrency scams, lottery fraud, and online relationship schemes aimed at stealing life savings and personal identity information. Experts advised older adults to be cautious with online links and downloads, research before acting, and consider freezing their credit with the three major credit reporting agencies. Resources for assistance include Pro Seniors' free legal hotline at (513) 345-4160 and local adult protective services.
local10.com
· 2025-12-08
South Florida FBI agents are warning seniors about rising elder fraud trends, with impersonation scams (including AI-generated voice calls mimicking grandchildren and tax/immigration-related schemes) and "pig butchering" cryptocurrency investment fraud among the most prevalent tactics. According to FBI Florida data, tech support scams affect the most victims (235 cases), while investment scams cause the highest financial losses at $13.3 million across 105 cases, with agents advising potential victims to stay calm, verify requests through third parties, and recognize urgency tactics as red flags.
the420.in
· 2025-12-08
Mumbai's cyber crime team uncovered two romance-based investment scams targeting men who lost a combined ₹74 lakh (approximately $89,000 USD). In both cases, scammers posing as women established online relationships through matrimonial and social media platforms, then lured victims into fake cryptocurrency and stock trading schemes with fabricated profits before locking them out and disappearing. The schemes exploited trust and initial small withdrawals to convince victims of legitimacy before extracting significantly larger sums.
deccanherald.com
· 2025-12-08
A 72-year-old Ohio surgeon lost $1 billion to a romance scam involving a fake Ukrainian model within one month of his wife's death, while in New Delhi, a woman lost Rs 5 lakh ($6,000) when scammers impersonated her phone service provider during a family medical crisis. Globally, seniors lost $4.8 billion to cyber fraud in 2024 (US), with India projected to lose Rs 1.2 lakh crore ($14.4 billion) in 2025, driven by psychological manipulation that exploits neurobiological changes in aging brains, cultural conditioning toward authority and politeness, and widesprea
cbs19news.com
· 2025-12-08
Senior citizens and vulnerable adults across the United States are being targeted at increasing rates by scammers using phone calls, emails, text messages, and artificial intelligence; in 2024, seniors lost nearly $4.9 billion across 147,000 complaints nationally, with Virginia seniors (age 60+) losing over $106.5 million in more than 3,800 reported incidents. Common scams targeting elders include the "Grandparent scam" using AI voice impersonation, text message schemes regarding undelivered packages and unpaid tolls, and cryptocurrency investment fraud. Officials recommend verifying contact information independently, resisting pressure to act quickly, and avoiding payment methods like gift cards
the420.in
· 2025-12-08
This article is a compilation of ten cyber crime news summaries curated by the Future Crime Research Foundation. Key cases include: a ₹3.34 crore fraud call center bust in Lucknow where 15 individuals lured youth via fake job ads on WhatsApp and Facebook to run scams targeting 1,000+ people; a Pune woman defrauded of ₹8.4 lakh in a matrimonial scam; a Mumbai man who lost ₹32 lakh in a cryptocurrency romance scam; and a multi-state investment and digital arrest scam network spanning Odisha, Gujarat, and West Bengal. The compilation also covers international
leisurebyte.com
· 2025-12-08
This article is an entertainment recommendation piece, not a news report about a specific fraud case. It summarizes a Prime Video documentary series called "Romcon: Who the F**k is Jason Porter?" that examines romance scams and emotional manipulation, then lists five similar true crime documentaries including "The Tinder Swindler" (featuring Israeli conman Simon Leviev who scammed women out of millions), "Love Fraud" (about serial romance scammer Richard Scott Smith), "Sweet Bobby" (a 10-year catfishing case), "Hey Beautiful" (three women scammed using the same stolen identity), and "Hunting the Catfish Crime Gang" (about organized catfishing an
au.news.yahoo.com
· 2025-12-08
Americans over 60 lost nearly $5 billion to online scams in 2024, a 43% increase from 2023, with over 147,000 victims averaging $83,000 in losses each according to FBI data. Major scam types include investment fraud ($1.8 billion), tech support scams ($1 billion), and government impersonation schemes ($200 million), increasingly leveraging AI and deepfakes. The article recommends family members and communities take preventive action through regular personal check-ins, education about common scam tactics, and directing seniors to trusted resources like the FTC and FBI rather than relying solely on technology.
express.co.uk
· 2025-12-08
UK victims lost over £106 million to romance fraud in the 2024/25 financial year, with 9,449 reported cases representing a 9% increase, according to City of London Police data. The average loss per victim was £11,222, with the 50-59 age group suffering the highest financial impact (£22.1 million total), though male victims slightly outnumbered female victims for the second consecutive year. Police believe the actual figure is significantly higher due to underreporting caused by victim shame and embarrassment, and they have launched a public awareness campaign to educate people about the emotional manipulation and financial exploitation tactics used by romance scammers.
justice.gov
· 2025-12-08
The U.S. Department of Justice announced a reinvigorated effort to combat transnational elder fraud schemes that cost billions of dollars annually, with several recent prosecutions targeting romance fraud, lottery fraud, tech support fraud, and grandparent scams. Key cases included Troy Murray, who pleaded guilty to selling a database of over 7 million elderly Americans' personal information to Jamaican lottery scammers, and his son Cutter Murray, who pleaded guilty to money laundering $1.6 million in fraudulent proceeds; other defendants were charged for operating Jamaica-based lottery fraud schemes that defrauded seniors across the country, with one victim losing over $400,
decrypt.co
· 2025-12-08
Alabama securities regulators recovered over $125,000 in crypto assets for two residents who lost a combined $580,000 to "pig butchering" romance scams—schemes where victims met scammers on dating apps and messaging platforms and were convinced to invest in fraudulent trading platforms over several months. One victim lost $185,000 after meeting a scammer on Bumble, while another lost $395,000 after responding to a WhatsApp advertisement for a fake platform falsely claiming Charles Schwab affiliation. Pig butchering scams accounted for 33.2% of the $9.9 billion in global crypto fraud in 2024, with criminals increasingly
indiatoday.in
· 2025-12-08
Romance scams are surging nationwide in India, with fraudsters using emotional manipulation and false identities to extract large sums from victims—often through fabricated investment opportunities, fake dating profiles, or staged romantic encounters. Reported cases include a 29-year-old who lost Rs 32 lakh to a crypto scam, a 44-year-old defrauded of Rs 42 lakh through fake stock tips, and a 28-year-old engineer who transferred Rs 28 lakh before being threatened with intimate photos. A 2024 survey found that nearly two-thirds of Indian respondents encountered or nearly fell victim to romance scams, with over half suffering financial
infosecurity-magazine.com
· 2025-12-08
UK romance fraud victims lost £106 million ($144 million) in 2024, with 9,449 reported cases representing a 9% increase, according to City of London Police data. The average loss per victim was £11,222 ($15,211), with the 50-59 age group suffering the highest financial losses at £22.1 million; women were more vulnerable to prolonged manipulation lasting over a year, often culminating in cryptocurrency investment scams (pig butchering). Police emphasized that romance fraud uses sophisticated manipulation tactics and can affect anyone, urging victims to verify identities, avoid switching to personal messaging platforms, and report suspicious activity.
etedge-insights.com
· 2025-12-08
Romance scams on dating apps have escalated dramatically, with reported losses topping $1 billion globally in 2024 and a projected rise through 2025. Scammers use emotional manipulation, stolen photos, and increasingly sophisticated AI tools (deepfakes, voice cloning) to build fake relationships and extract money from victims, often through fake investment schemes or fabricated emergencies. The article illustrates this trend through Jay's experience with "Alina" and notes that India has been particularly hard-hit, with 39% of daters encountering scammers and 77% seeing AI-generated photos, while crypto-hybrid romance scams grew nearly 40% year-
fox23.com
· 2025-12-08
April Helm, a Broken Arrow woman and host of the Scammer Stories Podcast, testified before the Senate Judiciary Committee on June 17 about her mother's loss of at least $350,000 in a romance scam. Helm discussed both romance scams and "pig butchering" scams (hybrid romance and cryptocurrency schemes) and emphasized that addressing the problem requires coordinated efforts from dating platforms, law enforcement, prosecutors, and mental health professionals to combat transnational scam networks.
smnewsnet.com
· 2025-12-08
The U.S. Department of Justice announced reinvigorated efforts to combat transnational elder fraud schemes costing billions of dollars, with recent prosecutions targeting romance fraud, lottery fraud, tech support fraud, and grandparent scams. Key cases include Troy Murray, who sold a database of over seven million elderly Americans' personal information to Jamaican lottery fraudsters and laundered $1.6 million in proceeds, and Dennis Anderson and Frank Angelori, who brokered lead lists to Jamaica-based scammers from 2015-2020. Individual victims lost significant sums, with one Arizona victim losing over $400,000 to a lottery fraud scheme.
tradingview.com
· 2025-12-08
New Zealand's Financial Markets Authority has reported an increasing number of investment scams targeting residents through unsolicited social media messages on platforms like WhatsApp, Telegram, and Facebook, with fraudsters impersonating investment firms or bank employees and promoting unrealistic high-return opportunities often tied to cryptocurrencies or forex. The warning follows similar patterns in Australia, where investment fraud accounts for over half of AU$119 million in scam losses in early 2025, and comes as regulators globally struggle to combat these schemes on messaging platforms.
durbin.senate.gov
· 2025-12-08
At a Senate Judiciary Committee hearing on protecting older Americans from scammers, Senator Dick Durbin questioned witnesses about crypto ATM fraud, which resulted in nearly $247 million in losses to seniors in 2024, and introduced the Crypto ATM Fraud Prevention Act to combat the scams. Witnesses from AARP, USTelecom, and the National Elder Fraud Coordination Center confirmed that criminals are funneling elderly victims to crypto ATMs by convincing them they are saving themselves from legal prosecution, with crypto transactions now common in nearly all transnational elder fraud cases. Durbin also warned seniors to be skeptical of unsolicited phone calls claiming to be from government agencies and urged passage of
durbin.senate.gov
· 2025-12-08
Senator Dick Durbin testified before the Senate Judiciary Committee on elder fraud, reporting that Americans aged 60 and older lost nearly $4.9 billion to fraud in the prior year, with average losses of $83,000, representing a 43 percent increase year-over-year. He highlighted the particular threat of cryptocurrency ATM scams, which caused nearly $247 million in losses in 2024, a 31 percent increase, with one case involving an elderly Illinois woman losing her entire $40,000 life savings. Durbin introduced the Crypto ATM Fraud Prevention Act to require operators to register with regulators, display scam warnings, implement transaction limits, and ref
ghanaweb.com
· 2025-12-08
Ghanaian businessman Joseph Kwadwo Badu Boateng and multiple associates have been charged in coordinated U.S. federal prosecutions for operating transnational romance and inheritance scams targeting elderly Americans between 2013 and 2024. Boateng allegedly led a decade-long scheme convincing seniors they could claim gold and jewels if they paid fabricated taxes and fees, while related defendants in Ohio and elsewhere defrauded elderly victims through fake romantic relationships and fraudulent business deals, laundering proceeds to Ghana and other countries. These cases represent part of a broader Department of Justice crackdown on international fraud networks preying on seniors, announced in conjunction with World Elder
cnn.com
· 2025-12-08
US law enforcement seized over $225 million in cryptocurrency stolen from more than 400 victims worldwide in a sophisticated investment scam, marking the largest-ever recovery in so-called "crypto confidence" or "pig butchering" schemes. The scammers, traced partly to the Philippines, conducted hundreds of thousands of transactions to launder the stolen funds, with authorities working to return assets to victims. Crypto investment scam losses have surged dramatically, reaching $5.8 billion in 2024 compared to $2.57 billion in 2022, with scammers often preying on vulnerable individuals including elderly Americans.
mashable.com
· 2025-12-08
Pig butchering scams are online confidence schemes where cybercriminals build trust with victims (often through romance or friendship) before convincing them to invest in fraudulent cryptocurrency opportunities, with the U.S. Attorney's Office recently seizing $225 million in cryptocurrency stolen from 400 victims worldwide. These scams, which operate at an industrial scale from compounds in countries like India, the Philippines, and Myanmar, typically target older Americans and lonely individuals, using fake identities and fabricated investment platforms from which victims cannot withdraw funds. To protect yourself, remain skeptical of unsolicited contact from strangers online, especially those promoting investment opportunities, and verify the legitimacy of any investment before sending money.