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about.fb.com
· 2025-12-08
Meta launched a global anti-scam awareness campaign ahead of the holiday shopping season, highlighting three prevalent scams disrupted on their platforms: fake gift box giveaways targeting multilingual users, counterfeit holiday decoration sales using AI-generated videos, and fraudulent coupon/gift card schemes requesting personal information. The company introduced new safety tools across WhatsApp, Instagram, and Marketplace to detect and warn users of suspicious accounts and scam-like messaging patterns, while partnering with security experts and researchers to identify and block scammers' websites and accounts.
news9.com
· 2025-12-08
Cleveland County Court Clerk's Office warned residents of a jury duty scam involving fraudsters using fake arrest warrants and demanding payment via phone, email, or in-person visits, with at least one reported case where scammers appeared at someone's door with a fake warrant demanding payment in gift cards. The court clarified that legitimate jury duty communications are only sent by U.S. mail and never request payment, and that no Cleveland County resident has been fined or jailed for missing jury duty under the current clerk. Residents are advised to call 911 if approached in person by suspected scammers and to alert vulnerable loved ones, especially during the holiday season.
bankingjournal.aba.com
· 2025-12-08
"Fraud as a service" is a growing criminal business model where perpetrators offer tools and infrastructure to commit fraud, recruiting unwitting "money mules" to transfer funds through their bank accounts. Financial losses from fraud targeting seniors over 60 have surged from $500 million in 2018 to $3.5 billion in 2023, with schemes also prevalent on social media platforms targeting younger demographics and even infants through synthetic identity fraud. Banks have a critical 72-hour window to recover fraudulent funds before money leaves accounts, and implementing name-matching verification and monitoring for suspicious transaction patterns like unusual velocity or peer-to-peer transfers can help prevent fraud.
indiatodayne.in
· 2025-12-08
A victim from Guwahati lost Rs 15,00,000 to a fake online investment scam, and Guwahati Police's Cyber Crime Police Station successfully recovered Rs 2,35,310 back to the victim's bank account. The investigation is ongoing to recover the remaining funds and apprehend the perpetrators, while authorities urge citizens to verify the authenticity of online investment platforms.
justice.gov
· 2025-12-08
Former Pigeon Township Trustee Mariama Wilson and contractor Terrance Hardiman were sentenced for operating a kickback scheme from February 2020 to May 2022 that defrauded taxpayers of $38,000. Wilson and Hardiman conspired to inflate invoices for homeless shelter and food pantry projects, with Hardiman submitting inflated bids and then paying Wilson and co-defendant William Payne kickbacks of $1,000-$2,000 per project, which they received in cash delivered by hand. Wilson received three years of probation, Hardiman received six months in federal prison plus two years of supervised release, and both were
abc3340.com
· 2025-12-08
Terrance Alonzo Pruitt, 47, of Bessemer was convicted of two counts of wire fraud for executing a fraudulent Power of Attorney over an elderly family member with dementia without consent and transferring $550,000 from the victim's bank accounts to his own between September and December 2023. Pruitt became a joint account holder, altered account addresses and beneficiaries, and moved $500,000 to an account in his name alone before providing inconsistent explanations when confronted. The FBI investigated the case, and the National Elder Fraud Hotline (1-833-372-8311) is available for victims age 60 and older.
ici.radio-canada.ca
· 2025-12-08
A Toronto resident who lost $355,000 in a romance cryptocurrency scam beginning in June 2021 has recovered $225,000 following a three-year international investigation. The victim was deceived by a scammer posing as "Moshe Theodor McNigh" on Facebook who encouraged investment in cryptocurrency through a fraudulent website; a suspect was arrested in Nigeria and Nigerian courts ordered the recovery of funds. The case involved collaboration between Toronto police, Ontario Provincial Police, the RCMP, and Nigeria's Economic and Financial Crimes Commission.
businessjournalism.org
· 2025-12-08
Nearly 1 in 3 Americans experienced scams in the past year, with consumers reporting over $10 billion in fraud losses to the FTC in 2023—a 14% increase from the previous year. While scammers target all age groups through different methods (younger adults face online shopping and cryptocurrency scams, while older adults are vulnerable to tech support and imposter scams), seniors are particularly lucrative targets due to their collective wealth of $84 trillion. As scammers become increasingly sophisticated using AI-powered techniques like voice cloning, deepfakes, and convincing phishing schemes, awareness and education remain the most effective defenses against fraud.
signalscv.com
· 2025-12-08
Multiple U.S. regulatory agencies reported in December that elder financial exploitation costs Americans over $28 billion annually, with over 155,000 cases reported between June 2022 and June 2023 linked to approximately $27 billion in suspicious activity. The FBI documented over 101,000 elder fraud complaints in 2023, with victims over 60 losing an average of $33,915—nearly 270% higher than 2020—primarily through investment scams, business email compromise, romance scams, and government impersonation schemes. Regulatory agencies urged financial institutions to strengthen protections by increasing account oversight, training employees to recognize exploitation, and coordinating with law enforcement and elder
justice.gov
· 2025-12-08
Brandon Alford, a 47-year-old employee in Washington, Indiana, was sentenced to two years in federal prison for defrauding his employer through a scheme involving a fake company called A&D Distributing LLC. Between December 2017 and January 2023, Alford submitted 25 fraudulent invoices totaling $1,006,500 for machine parts that were never ordered or delivered, while also evading taxes on the fraud proceeds from 2017-2022. He was ordered to pay $1,006,500 in restitution to his employer and $319,793.02 to the IRS.
wvua23.com
· 2025-12-08
Terrance Alonzo Pruitt, 47, of Bessemer was convicted of two counts of wire fraud for executing a Power of Attorney over an elderly family member with dementia without consent and fraudulently transferring $550,000 from the victim's bank accounts between September and December 2023. Pruitt became a joint account holder, changed account addresses, altered beneficiaries, and moved funds to his personal accounts for his own use. The case underscores the importance of reporting elder financial fraud to law enforcement and resources like the National Elder Fraud Hotline (1-833-372-8311).
theworld.org
· 2025-12-08
Online romance scams and investment fraud schemes increasingly originate from Southeast Asia, with some perpetrators operating under coercion at gunpoint. The article highlights the story of one man who was captured and forced to participate in these scam operations, illustrating how victims of human trafficking are exploited to commit financial fraud against unsuspecting targets worldwide.
fox6now.com
· 2025-12-08
Holiday scams targeting shoppers, donors, and job seekers have increased significantly, with the FBI and Better Business Bureau warning consumers about fraudulent schemes across online shopping, social media, and charitable giving. Key scams include fake retailer ads and non-delivery schemes (which caused $92 million in losses in 2023), social media gift exchanges and puppy sales (totaling $5.6 million in 2024 complaints), fake charities, impostor websites, and seasonal job listings requiring upfront fees. Consumers are advised to verify businesses and charities through official sources, avoid unsolicited links and deals that seem too good to be true, and report suspected fraud to their financial institution an
cbsnews.com
· 2025-12-08
Chinese-backed organized crime networks are operating a nationwide gift card scam where "mules" shoplift cards from retailers, which are then tampered with and reshelved for unsuspecting consumers to purchase; the proceeds fund illegal activities including fentanyl production, human trafficking, and smuggling. Law enforcement agencies, including Homeland Security Investigations' Project Red Hook, have arrested multiple perpetrators across Texas and beyond, discovering thousands of stolen gift cards worth millions of dollars in single operations.
moco360.media
· 2025-12-08
A 26-year-old Rockville man was sentenced to five years in prison (10 years with suspension) for his role in a gold bar scam targeting a 94-year-old Silver Spring resident who nearly lost approximately $230,000. Mathon posed as a federal agent, convincing the elderly victim that his identity had been stolen and he needed to purchase gold bars for safekeeping, but law enforcement interrupted the scheme with a sting operation that caught Mathon attempting to collect the package. This marks Montgomery County's first conviction in a local gold bar scam case, which prosecutors note involves organized, international criminal networks that specifically target vulnerable elderly victims.
zeenews.india.com
· 2025-12-08
A man from Tripunithura, Kerala lost Rs 4.05 crore after being contacted on WhatsApp by a scammer posing as a financial services representative who persuaded him to download a malicious investment app called "Br-Block Pro." Over two and a half months (September 26 to December 9), the victim made multiple deposits expecting returns, but was denied withdrawal access when attempting to retrieve funds, leading him to report the fraud to cyber police. The scam exemplifies a growing trend in India where fraudsters use WhatsApp to lure victims with fake success stories and promises of guaranteed profits.
indiatoday.in
· 2025-12-08
The "digital arrest" scam, which has cost Indians ₹120 crore in the first four months of 2024, involves fraudsters impersonating law enforcement officials via phone calls to falsely accuse victims of crimes like money laundering and extort money by threatening immediate "digital arrest"—a term that does not exist in Indian law. The scam targets individuals across all sectors, including professionals, by creating psychological pressure through urgency, threats of isolation, and demands for confidentiality, and can be identified by suspicious unofficial contact numbers, pressure tactics, and threats against disclosure to family members.
aol.com
· 2025-12-08
**Summary:**
Catherine Corrine Daly, a 54-year-old former office manager at a Memphis law firm, was indicted on embezzlement charges for stealing approximately $1.25 million over a two-year period (June 2019 to October 2021). Daly allegedly used company funds from the firm's operating account to pay personal American Express credit card bills that she and two relatives used for luxury purchases including designer clothing, jewelry, furnishings, and salon services. She faces six federal counts punishable by up to 10 years imprisonment and $250,000 in fines per count.
wmar2news.com
· 2025-12-08
Scammers are increasingly using cryptocurrency across multiple fraud schemes including investment scams, tech support fraud, romance scams, and employment schemes, exploiting victims' fear of missing out and unfamiliarity with the technology. In Maryland, reported losses from cryptocurrency-related employment scams surged dramatically from $32,033 in 2023 to $3.8 million between January and October 2024, with victims losing an average of $15,000–$20,000 each; scammers use fake cryptocurrency exchanges and work-from-home schemes requiring deposits to "unlock" higher-paying work that victims cannot ultimately access. While cryptocurrency transactions are instant and irreversible, the FBI
english.gujaratsamachar.com
· 2025-12-08
A 72-year-old senior citizen in Ahmedabad lost ₹1.84 crore in a stock market investment scam orchestrated through a WhatsApp group called "VIP A8 Jeevan Team," where fraudsters posed as stock experts and convinced him to download a fake trading app and invest in fabricated IPOs and block deals. The victim discovered the fraud when scammers demanded ₹39 lakh as a "processing fee" to withdraw his purported profits, revealing that all displayed gains were fake and his money had been siphoned to multiple bank accounts. Cyber Crime Police have registered a case and are investigating the fraudsters' network while tracking
timesrepublican.com
· 2025-12-08
Three Iowa volunteers with the Central Iowa Retired Senior Volunteer Program presented a fraud prevention program highlighting major scams targeting seniors, including a Fort Dodge victim who lost over $500,000 to scammers and a Marion woman who lost $30,000. Common schemes discussed included grandchild impersonation scams, fraudulent Medicare reimbursement demands, and affinity fraud targeting religious or ethnic groups, with the volunteers providing prevention strategies such as not answering unknown callers, verifying urgent requests by calling relatives directly, and avoiding upfront payments to strangers.
aol.com
· 2025-12-08
A Florida real estate agent, Jason Valiant, was arrested for allegedly defrauding an elderly Ormond Beach couple of $1.6 million in properties and depleted bank accounts by forging power of attorney and healthcare surrogate documents while they were hospitalized. Valiant used the fraudulent authority to transfer the couple's home and two other properties to himself, drain their accounts, and use their credit cards for personal expenses; authorities also allege he signed a Do Not Resuscitate order for one victim, resulting in their removal from life support. Valiant faces charges including organized scheme to defraud, exploitation of an elderly adult, and identity theft.
fox43.com
· 2025-12-08
Secret gift exchange schemes circulating on social media—including "secret sister" and "book exchange" variations—are pyramid schemes that the U.S. Postal Inspection Service considers a form of gambling, with participants potentially facing jail time, fines, or mail fraud lawsuits. While participants are promised receiving 6 to 36 gifts in return for buying one, there is no guarantee of receiving any gifts at all, and the scheme requires sharing personal information with strangers.
myjoyonline.com
· 2025-12-08
Two Ghanaian nationals, 34-year-old Wigbert Bandie and 30-year-old Adam Khadijah, were sentenced in November 2024 to 63 and 30 months in prison, respectively, by a U.S. federal judge in Tennessee for internet fraud and money laundering. From June through December 2019, the defendants conducted romance and advance-fee scams via social media, impersonating overseas individuals and fake gold shippers to defraud at least 11 victims, including one victim (Richard Coleman) who lost $73,550; Bandie was ordered to pay $2.18 million in restitution.
wvnews.com
· 2025-12-08
This educational article provides prevention strategies against financial exploitation, citing FTC data showing $10 billion in consumer fraud losses in 2023 (a 14% increase from 2022), with investment scams accounting for nearly half of all losses. The article recommends three protective measures: enrolling in USPS Informed Delivery to monitor incoming mail, setting up transaction alerts with banks and credit card companies, and designating a trusted "watchdog" to provide input on financial decisions. These preventive approaches aim to help individuals detect and prevent exploitation early.
timesofindia.indiatimes.com
· 2025-12-08
A 65-year-old retired government employee in Panchkula lost Rs 4.36 lakh to a social media romance scam perpetrated by two women, Anita Pandey and Sweety Chandrakar, who posed as business associates online. The article also highlights two related elder fraud trends: a 60-year-old engineer losing Rs 68 lakh through a fraudulent share trading app, and a spike in "digital arrest" scams targeting seniors in Kolkata, with one victim losing over Rs 66 lakh.
the420.in
· 2025-12-08
This curated cybercrime report documents multiple fraud cases across India and internationally. Notable incidents include an Indore resident losing Rs 2.45 lakh to an AnyDesk remote access scam, a Rs 71 lakh online stock market fraud in Pune involving a Russian national, and a Chennai shopkeeper arrested for defrauding over Rs 1 crore through fake goods and job offer scams on social media. The report also highlights international cases including the extradition of a Nigerian cybercriminal to the US for wire fraud and romance scams, cryptocurrency scams targeting Jersey residents, and emphasizes that global scams cost $1.026 trillion annually
lamilano.it
· 2025-12-08
A 35-year-old man named Bruno Abbruzzese was arrested in Terzigno, Naples, for attempted extortion and fraud involving a "mirror scam." The scheme involved damaging a victim's vehicle (using rocks or fake damage created with black wax), falsely claiming the victim caused the damage, and demanding cash compensation while threatening the victim with a jack as a deterrent. Carabinieri arrived during the incident and arrested Abbruzzese, who is awaiting trial.
postandcourier.com
· 2025-12-08
The FBI issued a public warning about an advanced tech support scam targeting South Carolina seniors, where scammers pose as tech support and instruct victims to liquidate assets and purchase gold bars for courier pickup to resolve fabricated device or financial account issues. South Carolina residents aged 60 and older reported losses exceeding $9 million from January through November, with similar cases occurring nationwide, and the multi-layered scheme often involves networks of criminals working together over weeks or months. The FBI advises seniors to avoid clicking unsolicited links, never provide computer access to unknown individuals, and verify suspicious claims by visiting financial institutions in person rather than contacting provided phone numbers.
justice.gov
· 2025-12-08
Matthew Ramos-Soto, 27, from Connecticut, was sentenced to 41 months in federal prison for his role in a grandparent scheme wire fraud network that targeted elderly victims across the United States. Operating as a courier posing as a bail bondsman, Ramos-Soto collected over $250,000 from victims in Wisconsin alone between October 2022 and October 2023, with the broader scheme involving coconspirators who called elderly victims claiming their relatives needed bail money for serious accidents or crimes. Judge Peterson described the crime as "cruel and devastating" and emphasized the significant financial and emotional harm inflicted on victims.
foxnews.com
· 2025-12-08
During the holiday season, scammers exploit shoppers' stress and excitement through various schemes, including package delivery scams that use fake links mimicking legitimate carriers (like "uspsts.top" instead of "usps.com") to steal personal information or payment, and charity scams where fraudsters impersonate legitimate organizations to solicit donations. The article advises consumers to verify packages through original shipping confirmations, independently research charities before donating, maintain antivirus software, and watch for red flags like poor grammar and suspicious links.
prunderground.com
· 2025-12-08
"Senior Savvy: A Comprehensive Guide to Avoiding Scams" is an educational resource released by financial expert Andy LaPointe that teaches seniors to recognize and prevent fraud across multiple platforms, including phishing emails, social media scams, cryptocurrency schemes, romance scams, and door-to-door deception. The guide provides step-by-step explanations, real-world examples, and actionable strategies for responding to scams, with particular emphasis on protecting seniors during high-risk periods like the holiday season when scammer activity increases.
forbes.com
· 2025-12-08
AI-enabled scams are projected to cause $40 billion in losses by 2027, up from $12.3 billion in 2023, as fraudsters increasingly adopt deepfake technology, voice cloning, and AI chatbots for romance scams and business email compromise attacks. Criminal activity on fraud-focused channels surged 644% between 2023 and 2024, with scammers now offering "fraud-as-a-service" tools and recruiting workers to create deepfake content. The FBI and fraud experts warn that 2025 will see AI scams become mainstream, particularly in targeted business fraud (like the $30 million Hong Kong Zoom imperson
manchesterjournal.com
· 2025-12-08
Ellen, a 48-year-old widow, met "Frank," a purported widower, on social media in January 2022 and developed an online relationship that moved to private messaging platforms. Over approximately two years, Frank manipulated Ellen by fabricating emotional crises—particularly his son's cancer diagnosis requiring expensive treatment—and convinced her to send more than $60,000 before they ever met in person, making her a victim of a romance scam. The article outlines common characteristics of romance scams, including their extended timeline, emotional manipulation, avoidance of in-person meetings, and victim resistance to acknowledging the fraud, along with warning signs and verification steps victims can take.
nypost.com
· 2025-12-08
Nigeria's anti-graft agency arrested 792 suspects, including 148 Chinese and 40 Filipino nationals, in a December 10 raid on a Lagos call center that orchestrated romance scams and fake cryptocurrency investment schemes targeting victims in the Americas and Europe. The operation involved Nigerian accomplices recruiting victims online through social media platforms like WhatsApp and Instagram, then handing them off to foreign scammers who pressured them to transfer money for nonexistent investments. Authorities seized computers, phones, and vehicles, and indicated they are investigating potential links to organized crime networks.
timesofindia.indiatimes.com
· 2025-12-08
A south Delhi resident lost Rs 18.4 crores in an investment scam after being recruited into a WhatsApp group that directed him to download a fraudulent trading application showing fake profits. The scam involved transferring funds across 26 different bank accounts, and police arrested three suspects in connection with the scheme.
vietnamnet.vn
· 2025-12-08
Online scams caused Vietnamese citizens an estimated VND 18.9 trillion in losses during 2024, affecting approximately 0.45% of smartphone users (one in 220 people), according to the National Cybersecurity Association's survey of 60,000 participants. The three most common scam types were fake investment schemes promising high returns (70.72% of respondents), impersonation of organizations or government agencies (62.08%), and deceptive prize-winning or promotional messages (60.01%), with fraudsters increasingly using deepfake technology and automated tools. The report emphasizes that only 45.69% of victims reported scams to authorities, and recommends users
malaymail.com
· 2025-12-08
A 73-year-old businessman in Kuala Terengganu lost RM704,000 to a fraudulent investment scheme after responding to a WhatsApp advertisement promising high returns; he made 10 transfers to three different accounts between November and December before realizing he would receive no returns. Police are investigating the case under Section 402 of the Penal Code and advise the public to verify investment opportunities through official sources such as Bank Negara Malaysia and the Securities Commission Malaysia.
thestar.com.my
· 2025-12-08
A 73-year-old businessman in Kemaman lost RM704,000 after responding to a fake investment advertisement on WhatsApp for "Saham L-5 Cicc Investment," which promised high returns but never delivered. The victim made 10 transfers to three different bank accounts before filing a police report, with the case now being investigated under fraud provisions. Police advised the public to verify investment opportunities through official channels like Bank Negara Malaysia and the Securities Commission before participating.
theitem.com
· 2025-12-08
The FBI is investigating an advanced multi-layered tech support scam targeting elderly South Carolinians, where scammers pose as tech support and government officials to convince victims their devices and financial accounts have been compromised, then instruct them to liquidate assets and purchase gold bars for courier pickup. South Carolina seniors aged 60 and older reported losses exceeding $9 million to tech support scams from January through November, with similar cases occurring nationwide. The schemes involve coordinated networks of criminals using fake documents, routing calls between accomplices, and can persist for weeks or months before victims discover their accounts have been depleted.
fox43.com
· 2025-12-08
This article warns about gift card scams, where fraudsters impersonate legitimate retailers like Kohl's and Target to trick consumers into clicking suspicious emails or completing surveys that harvest personal data. The Federal Trade Commission reported a significant rise in gift card scams, with Target gift cards alone accounting for over $35 million in losses during the first nine months of 2021. Consumers are advised to verify the sender's email address and be skeptical of unsolicited offers for free gift cards, as they typically represent phishing schemes or data theft operations.
yahoo.com
· 2025-12-08
Nigerian authorities arrested 792 suspects, including 148 Chinese and 40 Filipino nationals, in a raid on a Lagos call center that orchestrated romance scams and cryptocurrency fraud targeting victims in the Americas and Europe. The operation lured victims through social media platforms like WhatsApp and Instagram with romantic overtures or fake investment opportunities, then pressured them to transfer money for phoney cryptocurrency schemes and non-existent projects. The Economic and Financial Crimes Commission seized computers, phones, and vehicles, and stated it would investigate potential links to organized crime and collaborate with international partners.
timesofindia.indiatimes.com
· 2025-12-08
Nigerian authorities arrested 792 individuals, including foreign nationals, in a raid on a Lagos fraud operation that targeted victims in North America and Europe through romance scams and fake cryptocurrency investment schemes conducted via WhatsApp and Instagram. The fraudsters, many recruited by international crime syndicates, would establish fake relationships or investment opportunities to pressure victims into sending money before handing off communication to foreign counterparts to complete the schemes. The EFCC seized evidence including phones, computers, and vehicles, and stated they are collaborating with international partners to dismantle the broader criminal networks involved.
justice.gov
· 2025-12-08
Enorense Izevbigie, a leader of the "Black Axe" crime organization, was extradited from South Africa to face federal charges in New Jersey for operating a decade-long romance scam and advance fee fraud scheme from 2011 to 2021. Izevbigie and his conspirators used fake identities on social media and dating websites to defraud U.S. victims of money and valuables, sometimes threatening to distribute intimate photos to coerce payments, then laundered the proceeds through U.S. bank accounts to South Africa. He faces two counts of wire fraud, wire fraud conspiracy, and money laundering conspiracy, each carrying up to 20 years in prison
justice.gov
· 2025-12-08
On December 17, 2024, Chinedu Ikenna Nwafor was sentenced to 25 months in federal prison and ordered to pay $180,000 in restitution for his role as a U.S.-based middleman in a romance fraud scheme targeting elderly women, while his codefendant Vitus Uzoma Uzowuru received approximately 10 months imprisonment and $50,000 in restitution. The scheme involved foreign actors posing as U.S. military members on fake social media profiles who built romantic relationships with elderly victims and convinced them to send money for fabricated emergencies, with victims including a New Town, North Dakota resident who
vice.com
· 2025-12-08
"Pig butchering" is a sophisticated online scam in which fraudsters use romance or investment opportunities to manipulate victims into losing significant sums of money, often involving cryptocurrency theft. Interpol is urging governments and organizations to replace the dehumanizing term with neutral language like "romance baiting" or "investment scam," as the stigmatizing terminology discourages victims from reporting the crime and seeking help.
bleepingcomputer.com
· 2025-12-08
Interpol is calling for the cybersecurity community, law enforcement, and media to replace the term "pig butchering" with "romance baiting" when describing online relationship and investment scams, arguing that the former terminology shames victims and discourages them from reporting fraud to authorities. These social engineering scams involve fraudsters building trust with victims through fake relationships or friendships on social media before convincing them to invest money in fraudulent schemes, primarily involving cryptocurrency, with investment fraud losses increasing 38% from $3.31 billion in 2022 to $4.57 billion in 2023. Interpol advocates for victim-neutral language that places responsibility on perpetrators rather than
thehackernews.com
· 2025-12-08
INTERPOL is advocating for the term "romance baiting" to replace "pig butchering" when describing online scams where fraudsters build fake romantic relationships with victims to manipulate them into investing in bogus cryptocurrency schemes. The agency argues that "pig butchering" dehumanizes victims and discourages them from reporting crimes, while the new terminology focuses accountability on perpetrators rather than shaming those defrauded. These sophisticated schemes, which originated in China around 2016, are often run by transnational organized crime groups operating from Southeast Asia and involve complex fake investment platforms designed to appear legitimate.
infosecurity-magazine.com
· 2025-12-08
A network of 792 people, including 148 Chinese, 40 Filipinos, and other foreign nationals, was arrested in Lagos on December 10 in connection with a large-scale cryptocurrency fraud and romance scam operation targeting victims in the US, Canada, Mexico, and Europe. The suspects operated from a sophisticated facility where they trained young Nigerians to conduct romance and investment scams using fake profiles, foreign phone numbers, and phishing techniques, directing victims to a fraudulent platform (yooto.com) where activation fees began at $35. The operation involved over 500 SIM cards and high-end equipment, with the foreign nationals exploiting Nigeria's reputation to establish their
cftc.gov
· 2025-12-08
**Type:** Educational Advisory
**Source:** CFTC Customer Advisory (December 18, 2024)
The Commodity Futures Trading Commission released an advisory urging Americans to make "spotting scams" a 2025 New Year's resolution, as scammers are stealing billions through relationship investment fraud targeting those seeking trading education, wealth growth, or companionship. The advisory recommends three key resolutions: be cautious about trusting online sources (since fraudsters use fake profiles, websites, and testimonials), limit personal information shared on social media, and invest in learning about legitimate trading and market risks. The CFTC emphasizes that any investment promising easy