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in Crypto Investment Scam
thestar.com.my
· 2025-12-08
Investment scams continue to victimize Malaysians across all education and income levels, with recent cases including a trader losing RM6.2 million to a fake investment scheme and an elderly woman losing over RM10 million to a fraudulent cryptocurrency scheme. Phone scammers posing as officials also defrauded senior citizens of RM3.83 million in retirement funds and savings. Between 2019 and 2023, Malaysia recorded 14,488 investment-related fraud cases totaling RM1.34 billion in losses, prompting police and the Securities Commission to increase collaboration efforts to combat such crimes.
kpmg.com
· 2025-12-08
Canadian organizations of all sizes face evolving fraud risks driven by technological advances like generative AI, cryptocurrency, and digital payment systems, with SMBs particularly vulnerable due to limited fraud prevention resources and awareness. Fraudsters employ increasingly sophisticated tactics including crypto scams, online payment fraud, social engineering attacks targeting elders, and ESG misrepresentation, with 88% of victimized Canadian SMBs experiencing internal fraud and 75% experiencing external fraud over the past five years. Organizations must strengthen their fraud prevention strategies through risk assessment, robust controls, and cross-sector partnerships to effectively counter these threats.
aol.com
· 2025-12-08
In 2023, the FTC reported over 2 million fraud cases in the U.S. resulting in $10 billion in losses, with the most common scams being imposter calls, online shopping fraud, prize/sweepstakes scams, investment schemes, and fake job listings. The FTC advises consumers to watch for red flags such as unsolicited requests for money, promises of guaranteed or unusually high investment returns, and notifications about winnings from contests never entered, and recommends verifying contacts by calling them directly rather than using numbers provided by callers.
nypost.com
· 2025-12-08
Undercover video obtained by software engineer Jim Browning reveals a "pig butchering" scam operation based in Dubai employing hundreds of people, including real models, to pose as glamorous individuals on dating apps and romance-bait victims into fake cryptocurrency investment schemes. The scammers use VPNs, multiple messaging platforms, and scripts to target victims globally across countries ranging from South America to Central Asia, with workers operating from eight-story buildings under exploitative conditions. The operation, run primarily by Chinese nationals using migrant workers from North Africa and Southeast Asia, commits romance and investment fraud to extract large sums of money from unsuspecting victims worldwide.
beincrypto.com
· 2025-12-08
Romance scams have surged 85-fold since 2020, with scammers using fabricated personal narratives and cryptocurrency to steal millions from vulnerable victims seeking companionship. Notable cases include an Indian software engineer losing $120,500 to a fake investment scheme on a matrimonial website and a Myanmar operation ("KK Park") linked to over $100 million in stolen funds through "pig butchering" scams that exploit victims' emotional vulnerabilities. Cryptocurrency's anonymity features make it the preferred payment method for scammers, with scam wallets accumulating at least $4.6 billion in 2023, though actual losses are likely much higher due to undetecte
decrypt.co
· 2025-12-08
"Pig butchering" romance scams using cryptocurrency surged 85 times higher from 2020 to 2023, with revenue doubling between 2022-2023, according to Chainalysis research. These scams involve fraudsters building fake romantic relationships before tricking victims into cryptocurrency investments they don't understand, resulting in an average loss of $4,593 per victim in 2023—the highest financial impact of any scam type. The scammers, often organized criminal groups, frequently operate through human trafficking networks in Southeast Asia and use sophisticated money laundering techniques to hide their activity, though a December 2023 Interpol operation arrested 3,500
dcsheriff.net
· 2025-12-08
Douglas County law enforcement agencies announced the arrest of 26-year-old Sagar Patel for scamming a 79-year-old Highlands Ranch resident out of over $120,000 in gold bars through a months-long investigation involving cell phone and credit card records. Multiple police departments partnered to launch a public awareness campaign promoting the SCAM acronym (Stop, Call, Ask, Make informed decisions) and provided education on common scam tactics, emphasizing that victims should watch for pressure to act quickly, requests for unusual payment methods, and demands for secrecy.
todayonline.com
· 2025-12-08
A Philadelphia tech professional named Shreya Datta lost $450,000 in a "pig butchering" cryptocurrency romance scam after being targeted on a dating app by a scammer posing as a French wine trader named "Ancel," who used deepfake videos and sophisticated manipulation tactics to build trust over months before convincing her to invest in a fake crypto trading app. The scam, orchestrated by crime syndicates operating out of Southeast Asia, drained Datta's savings, retirement funds, and left her with debt, with victims collectively losing billions of dollars in the United States and having little recourse for recovery. The fraud works by using romantic manipulation and false investment promises to gradually
coloradocommunitymedia.com
· 2025-12-08
A 79-year-old Highlands Ranch woman lost approximately $120,000 after clicking a popup on her computer and calling the provided number, where she was deceived into purchasing gold bars in a scam. Law enforcement officials from Douglas County and surrounding areas reported widespread scam activity targeting elderly residents, including over $800,000 in cryptocurrency-related fraud losses in Parker alone over six months, and emphasized that victims should contact authorities immediately as time is critical for potential recovery.
dailyhodl.com
· 2025-12-08
According to Chainalysis's 2024 Crypto Crime Report, cryptocurrency-based criminal activities declined in 2023, with illicit address funding dropping to $24.2 billion from $39.6 billion in 2022, though overall scam revenue fell 29.2%. Romance scams emerged as a significant concern, more than doubling in revenue year-over-year and growing 85-fold since 2020, causing the greatest per-victim financial damage despite being underreported due to their targeted, individual nature.
investmentexecutive.com
· 2025-12-08
According to Chainalysis research, cryptocurrency crime declined significantly in 2023, with illicit activity dropping from $39.6 billion in 2022 to $24.2 billion, driven by a 29.2% decrease in crypto scams and a 54.3% drop in hacking losses. Scammers increasingly adopted romance scam tactics to target individuals with fraudulent investment schemes, and the decline in illicit activity correlated with reduced market enthusiasm for cryptocurrency. While scams and hacks fell, ransomware attacks and darknet market activity rose in 2023, with stablecoins becoming the dominant asset for criminals, surpassing Bitcoin.
winnipeg.ca
· 2025-12-08
Fraud Prevention Month 2024 highlights the importance of education and awareness in combating scams targeting Canadians, particularly seniors through schemes like the grandparent scam. In 2022, Canada reported 70,878 frauds affecting 37,047 victims with total losses of $529.3 million, while Manitoba alone experienced 1,850 scams resulting in $10.4 million in losses across 1,011 victims. Law enforcement agencies, including the Winnipeg Police Service, are promoting fraud prevention throughout March via radio panels, community events, educational articles, and social media campaigns focused on cryptocurrency, grandparent, bank investigator, and sextortion frau
castanet.net
· 2025-12-08
**Fraud Landscape and Impact:**
Canadian fraud and cybercrime losses reached $530 million in 2022, a 40% increase from 2021, with AI and emerging technologies enabling criminals to create personalized scams and voice replications. While young adults (20-29) report fraud most frequently, older adults suffer substantially larger financial losses, exemplified by cases including a 68-year-old losing $3,000 to cryptocurrency fraud and an 80-year-old losing $5,000 in a grandparent scam.
**Key Prevention Strategy:**
Experts recommend four protective measures: remain alert to red flags and share scam awareness with
winnipegfreepress.com
· 2025-12-08
In 2023, fraudsters deceived 1,009 Manitobans out of $9 million, with 22 different scam types employed including service scams, investment scams, and romance scams that exploited vulnerabilities in victims' situations. Investment scams were the most costly, with 85 Manitobans losing an average of $85,000 each ($3.32 million total), while service scams affected 226 people for $535,477 in losses. Across Canada, 41,111 people were defrauded of $553.9 million in 2023, representing fewer victims than 2022 but with significantly
the-sun.com
· 2025-12-08
A 43-year-old man was defrauded of $22,000 by an AI-generated chatbot posing as a wealthy 24-year-old woman on Tinder who promised cryptocurrency investment returns. The scammer used deepfake video calls and phone conversations to build trust over a month before convincing the victim to send two payments ($10,000 and $12,000), which the victim only discovered were fake after reverse-image searching the profile photos. This case illustrates the growing threat of AI-powered romance scams on dating apps, where increasingly sophisticated deepfakes make fraudulent profiles difficult to distinguish from genuine users.
sinardaily.my
· 2025-12-08
A Philadelphia tech professional was defrauded of $450,000 in a "pig butchering" cryptocurrency romance scam after meeting a fake "French wine trader" on the dating app Hinge who used deepfake videos, emotional manipulation, and a fraudulent crypto trading app to gradually convince her to invest her savings and retirement funds. The scam, commonly run by Southeast Asian crime syndicates, has resulted in billions of dollars in losses across the United States, with victims reporting little recourse for recovery.
dallasnews.com
· 2025-12-08
This article describes common modern scams targeting older adults, including impersonation calls from fake government officials, phishing emails with malicious links, and various fraudulent schemes conducted via phone, email, and social media. The author, an attorney, provides practical prevention advice such as using strong unique passwords, freezing credit reports, verifying caller identity by independently calling businesses back, and avoiding unsolicited requests for personal information or financial details.
dlnews.com
· 2025-12-08
Pig-butchering romance scams have stolen over $75 billion globally between January 2020 and February 2024, with criminals primarily based in Southeast Asia using blockchain to move funds to crypto exchanges, according to a study by University of Texas professor John Griffin. Victims are typically lured through fake text messages into fraudulent cryptocurrency investments and can lose thousands to millions of dollars, while those sending the scam messages are often trafficking victims forced to participate. In response, UK law enforcement will gain authority from April 2024 onwards to freeze and seize suspected crypto assets linked to crimes without requiring a conviction.
bbb.org
· 2025-12-08
The 2024 BBB Scam Tracker Risk Report found that investment and cryptocurrency scams remained the highest-risk scam type, with over 80% of victims reporting losses averaging $5,000, while romance/friendship scams rose to third place with the highest median loss of $6,099. Financial grooming scams—where perpetrators build relationships with targets over weeks or months before encouraging investment—accounted for significant losses, with the overall reported median dollar loss rising 30% from 2023 to 2024. Seniors age 65+ experienced the highest median losses ($160), and victims engaged via social media were more likely to lose money, with nearly 30% reporting
westnewsmagazine.com
· 2025-12-08
National Consumer Protection Week highlights the growing threat of scams, with the FTC reporting record losses of $10 billion in 2023, with older adults suffering the greatest financial losses. Scammers increasingly use sophisticated tactics including AI-generated deepfake voices and imposter schemes targeting seniors through phone, email, and social media, exploiting vulnerabilities related to health issues, cognitive decline, and isolation. The FTC recommends prevention strategies including blocking unwanted calls, never providing personal information to unsolicited requests, resisting pressure to act immediately, consulting trusted contacts before sharing information, and avoiding untraceable payment methods like gift cards, wire transfers, and cryptocurrency.
wrex.com
· 2025-12-08
The Better Business Bureau released its 2023 Scam Tracker Risk Report, identifying investment scams (including cryptocurrency fraud) as the riskiest in the U.S., with over 80% of victims experiencing losses and a median loss of $3,800 per person, particularly affecting those aged 45 and older. The report also found that employment scams ranked second with a median loss of $1,995 and a 54.2% increase in reports, while romance scams quadrupled in losses, with vulnerability spanning multiple age groups including 35-44-year-olds experiencing the highest risk.
someecards.com
· 2025-12-08
This Reddit post describes a man's relationship crisis after his girlfriend lost $14,500 to a cryptocurrency giveaway scam on Twitter, with the funds coming from savings contributed by him and her parents. The girlfriend, who has a pattern of falling for fraudulent schemes including fake supplements and phishing sites, believed a 12-hour-old Twitter account would deliver 50 bitcoins and initially thought the transaction was on hold rather than recognizing the theft. The post sparked comments from others sharing similar experiences with vulnerable family members (a father who lost $34,000 to a romance/investment scam, an ex who provided banking and Social Security information to scammers), highlighting how susceptibility to fraud can
finews.com
· 2025-12-08
Romance scams involving cryptocurrency, known as "pig-butchering," have surged dramatically—up 85-fold since 2020 and doubling in the past year—with victims losing an average of $4,953 per scam, the highest average among all cryptocurrency fraud categories. These emotionally manipulative scams affect individuals across all wealth levels, particularly those in vulnerable life periods, with victims often making multiple payments that increase total losses significantly. Hong Kong has been particularly hard hit, with cases targeting even high-net-worth individuals and company executives, prompting government awareness campaigns though authorities appear uncertain how to effectively combat this growing threat.
welivesecurity.com
· 2025-12-08
In 2022, seniors over 60 reported $3.1 billion in cybercrime losses to the FBI across 88,262 incidents, representing an 82% year-on-year increase, though many cases remain unreported. Digital fraudsters increasingly target senior citizens, believing they have more savings but less digital awareness to recognize scams. Common schemes include phishing, romance scams ($734 million in 2022), Medicare impersonation, tech support fraud, online shopping scams, robocalls, government impersonation ($1 billion in combined losses in 2022), and lottery fraud.
wbay.com
· 2025-12-08
According to a Better Business Bureau report on the riskiest scams, investment scams (including cryptocurrency schemes) and employment scams result in the largest monetary losses, with investment scams having a median loss of $3,800 and over 80% of victims experiencing financial loss, while employment scams averaged $1,995 in losses and saw a 54% increase in reports from 2022. Online scams account for 68% of all fraud reports and are more likely to result in monetary loss than in-person or phone scams, though online shopping scams have dropped from the top positions for the first time since 2019.
cbsnews.com
· 2025-12-08
An 80-year-old woman lost her entire $720,000 life savings to a cryptocurrency scam after being approached by a scammer on social media, leaving her suicidal and unable to recover at her age. According to a Better Business Bureau report, crypto and investment scams were the riskiest fraud type in 2023, with overall scam losses increasing 27 percent that year, as victims are often lured with promises of high returns on unfamiliar investments. The BBB recommends investigating potential crypto investments thoroughly, checking company credentials and online reviews, and being wary of recruiters asking victims to bring in additional investors.
fcpdnews.wordpress.com
· 2025-12-08
Fairfax County police reported over a dozen cryptocurrency ATM scams since early 2024, with victims losing between $3,000 and $31,100 per incident. Scammers impersonated law enforcement, banks, and government agencies via phone calls to pressure victims into depositing money into Bitcoin ATMs or purchasing gift cards. The Fairfax County Police Department advises seniors to hang up on unsolicited calls, verify caller identities through official contact information, and consult trusted family members before making financial decisions involving unfamiliar technologies or large sums.
yahoo.com
· 2025-12-08
The Fairfax County Police Department reported over a dozen cryptocurrency fraud cases since January totaling more than $150,000, with individual losses ranging from $3,000 to $31,100. Scammers impersonated law enforcement, banks, and government agencies via phone calls and emails to trick victims—often elderly—into depositing money into cryptocurrency ATMs. Police recommend verifying caller identity through official channels, consulting family before transferring large sums, and noting that legitimate law enforcement never requests payment by phone or crypto.
abc15.com
· 2025-12-08
During National Consumer Protection Week, authorities highlighted impostor scams as one of the most prevalent fraud schemes affecting Americans, who lost $10 billion to scammers in 2023. Impostor scams take multiple forms—including fraudsters posing as law enforcement demanding payment via gift cards or cryptocurrency to avoid arrest, and romance scams that exploit emotional connections to persuade victims to invest in cryptocurrency, often resulting in losses in the hundreds of thousands of dollars. Key prevention advice includes: never send money to unknown callers, hang up and verify identities independently, and avoid gift cards or cryptocurrency transfers, as legitimate agencies and organizations will never request payment through these non-traditional methods.
dojmt.gov
· 2025-12-08
Montana Attorney General Austin Knudsen warned residents during National Consumer Protection Week about three prevalent website-based scams: law enforcement imposters demanding immediate payment via wire transfer or cryptocurrency to resolve fake arrest warrants, cryptocurrency investment scams that show false gains before stealing funds deposited into crypto ATMs, and tech support scams using fake pop-up alerts to gain computer access and demand payment for bogus virus removal. The advisory emphasized that legitimate law enforcement and courts never demand immediate payment by untraceable methods, and urged Montanans to verify requests before sending money and report suspected fraud to the Office of Consumer Protection.
krtv.com
· 2025-12-08
Montana Attorney General Austin Knudsen warned the public during National Consumer Protection Week about three prevalent scams: law enforcement impersonation (using spoofed phone numbers to demand immediate payment for fake arrest warrants), cryptocurrency investment and ATM scams (where fraudsters show fake gains to convince victims to deposit large sums, then steal the funds), and technical support scams (where pop-up alerts trick users into calling numbers that give scammers computer access). Knudsen advised avoiding third-party payment apps, wire transfers, gift cards, and cryptocurrency ATMs, and urged Montanans to verify suspicious requests with trusted contacts before sending money.
doj.state.or.us
· 2025-12-08
In 2023, the Oregon Department of Justice received more complaints about imposter scams than any other type of fraud, with government imposter scams being particularly common—especially those falsely claiming to be from the Social Security Administration or Office of the Inspector General. These scammers use sophisticated tactics including fake credentials and contact through multiple channels to deceive victims into revealing personal information or paying fees for suspended benefits, cost-of-living adjustments, or alleged debts. The article provides guidance on recognizing these scams and recommends protecting oneself by never sharing personal information with unsolicited callers, monitoring credit reports, and reporting incidents to the Oregon Department of Justice.
stories.td.com
· 2025-12-08
This educational article outlines major fraud trends affecting consumers in 2024, noting that fraud losses exceeded $10 billion in 2023 with a 14% increase year-over-year. It describes five prevalent scam types targeting older adults: grandparent scams (impersonating distressed relatives), romance scams (building false relationships to extract money), SIM swap scams (hijacking phone numbers to access financial accounts), investment scams (promoting unrealistic opportunities with high-pressure tactics), and mail theft scams (stealing personal information from physical mail). The article provides practical prevention strategies including using family code words, conducting background checks, enabling voice authentication with banks, avoiding unsolicite
crypto.news
· 2025-12-08
An unidentified cryptocurrency trader lost over $674,000 in USDC through a phishing scam, with attackers draining the victim's wallet and converting stolen funds to Ethereum through decentralized exchanges. The perpetrators have continued exploiting the victim's compromised wallet since March 1, executing over 400 transactions and stealing additional assets including ASTRA and NOIA tokens, totaling hundreds of thousands of dollars more. This incident reflects a broader trend of increasingly sophisticated phishing scams in the crypto space, which resulted in over $300 million in losses affecting approximately 320,000 users in the previous year.
globalnews.ca
· 2025-12-08
A woman in B.C.'s Southern Interior lost $10,000 in Bitcoin after a scammer called her pretending to be a fraud investigator, claiming her cellphone payment failed and providing instructions to send money via ATM. The incident reflects a broader trend of phone and cryptocurrency fraud in Canada, with Surrey RCMP reporting 229 fraud cases in 2023 totaling over $12 million in losses, and police recommending that people hang up on unknown callers requesting money and instead verify claims by contacting businesses directly using official contact information.
9news.com
· 2025-12-08
Diane Peltier fell victim to the phantom hacker scam when a pop-up falsely claiming her computer was hacked prompted her to call a fake Microsoft number; the scammer then posed as a bank fraud department employee and convinced her to withdraw money and deposit it into a cryptocurrency machine, resulting in total financial loss. The FBI reports this scam affected over 51,000 Americans and cost them more than $1.3 billion in 2023, with more than half of victims over age 60, including one victim in El Paso County who lost $99,000. The FBI recommends never clicking unsolicited pop-ups, downloading software from unknown contacts, or sending money via cryptocurrency or gift
businessinsider.com
· 2025-12-08
Americans aged 30-49 reported the most investment fraud complaints to the FBI in 2023, with over 13,000 cases, contradicting the assumption that older adults are most susceptible to investment scams. Total losses from investment fraud reached $4.57 billion in 2023—a 38% increase from the previous year—with cryptocurrency scams accounting for $3.94 billion of that total. Scammers typically lure victims through social media and online ads by promising high returns with minimal risk, using fake investment strategies, phony training products, and impersonation of public figures.
longmontleader.com
· 2025-12-08
In 2023, U.S. consumers lost $4.6 billion to investment scams—a 21% increase from 2022, with $1.4 billion lost on social media platforms alone. The most common schemes include cryptocurrency investment scams (featuring fake websites and fabricated profit statements), romance scams ("pig butchering" where scammers build relationships before soliciting money), and real estate scams (fraudulent property developments). The Colorado Division of Securities urges consumers of all ages to verify investment opportunities and report suspected fraud to protect themselves from these increasingly prevalent online schemes.
rutherfordsource.com
· 2025-12-08
**Summary:**
In March 2024, scammers posing as sheriff's deputies extorted over $10,500 from victims by claiming they had outstanding arrest warrants and demanding payment via cryptocurrency kiosks or ATMs. The criminals used recordings of actual deputies' voicemails and spoofed phone numbers to appear legitimate, exploiting victims' fear of arrest. Authorities warned that legitimate law enforcement never accepts cryptocurrency or payment for warrants, and urged people to hang up on such calls.
boothbayregister.com
· 2025-12-08
This AARP alert warns consumers to watch for spring break travel scams, which use artificially low prices and spoofed websites to lure victims into fraudulent bookings. The advisory recommends verifying the legitimacy of online travel sites by examining web addresses carefully, avoiding deals significantly cheaper than competitors, and refusing payment methods like wire transfers, cryptocurrency, or gift cards that criminals prefer. The guidance applies broadly to anyone booking spring travel and directs victims or those with questions to contact the AARP Fraud Watch Network.
wral.com
· 2025-12-08
In 2023, the FBI reported record losses of $12.5 billion from online scams, a $2 billion increase from 2022, with investment fraud accounting for $4.5 billion of that total—much of it involving romance scams luring victims into fake cryptocurrency schemes. Ransomware attacks also surged, with reported losses jumping from $34 million in 2022 to $59 million in 2023, though the total financial impact is significantly higher when including ransom payments and recovery costs. The report underscores that these figures represent only a partial picture, as many victims do not report scams to authorities.
cryptodaily.co.uk
· 2025-12-08
The FBI's 2023 Internet Crime Complaint Center report revealed a 53% increase in cryptocurrency-related fraud losses, which rose from $2.57 billion in 2022 to $3.94 billion in 2023, with scams targeting victims across all age groups (particularly ages 30-60) through increasingly sophisticated investment schemes promising high returns. Common tactics include romance scams (resulting in $370 million in losses), business email compromise schemes, and ransomware attacks, with criminals using cryptocurrency to quickly transfer stolen funds. The FBI recommends users employ two-factor authentication and verify payment requests to reduce fraud risk, though some analysts argue reported scam revenues have declined since 2
cryptotvplus.com
· 2025-12-08
Cryptocurrency scams generated at least $4.6 billion in 2023, a decrease from the previous year, though actual totals may be higher according to Chainalysis. Approval phishing and romance scams (also called "pig butchering" scams) are increasingly prevalent, with scammers using private communication channels to build fake relationships and extract money while remaining difficult to trace. Despite these challenges, progress has been made in combating crypto fraud, including a joint effort by Tether and OKX with the U.S. Department of Justice that froze $225 million linked to human trafficking, and an Interpol operation that apprehended 3,500 cyb
cointelegraph.com
· 2025-12-08
In 2023, cryptocurrency-related investment fraud caused $3.94 billion in losses in the United States—a 53% increase from 2022 and representing 86% of all investment fraud losses—with victims lured by promises of high returns. Common crypto scams include romance scams (which resulted in $374 million in stolen crypto) and phishing attacks (affecting over 324,000 users and causing $295 million in losses), with similar fraud trends occurring globally.
abc27.com
· 2025-12-08
According to the Better Business Bureau's 2023 Scam Tracker report, investment and cryptocurrency scams are the riskiest fraud type, with a median loss of $3,800, exploiting victims' lack of understanding about digital assets by promising unrealistic returns before demanding hidden fees to access nonexistent earnings. Employment scams and romance scams are also growing threats, targeting younger adults and those over 65 respectively, with victims losing not only money but also time and personal information. The BBB recommends avoiding quick financial decisions, being cautious with unknown contacts, and ignoring unsolicited links to protect against these increasingly sophisticated schemes.
cbsnews.com
· 2025-12-08
Pennsylvania residents lost more than $158 million to scams in the first nine months of 2023, a 22% increase from the previous year, with over 126,000 fraud reports filed averaging $1,250 per incident. While people ages 30-39 reported the most fraud cases, those ages 60-69 lost the most money at $744 million, and one in seven fraud victims experienced losses exceeding $10,000. The FTC advises consumers to avoid unsolicited requests for personal information, resist pressure to act quickly, and be wary of scammers demanding cryptocurrency or gift card payments.
thestarphoenix.com
· 2025-12-08
Saskatoon Police Service partnered with the Electronic Recycling Association to offer free secure destruction of electronics and confidential documents on March 14 as part of Fraud Prevention Month awareness efforts. The initiative comes as Canadian fraud losses reached $567 million in 2023, with investment scams, spear phishing, and romance scams causing the most financial damage, while fraud methods have evolved to include cryptocurrency schemes and sophisticated phishing techniques targeting both individuals and institutions.
cryptodaily.co.uk
· 2025-12-08
In 2023, the United States experienced a 53% increase in cryptocurrency investment fraud, with losses jumping from $2.57 billion in 2022 to $3.94 billion—accounting for 86% of all investment fraud losses. Scammers primarily used romance scams (causing $374 million in losses) and phishing attacks (causing $295 million in losses) to trick victims into transferring cryptocurrency by promising high returns or building fake relationships, with the problem affecting investors globally.
dailyhodl.com
· 2025-12-08
Prince Oduro, a 34-year-old former JPMorgan Chase employee in Columbus, Ohio, was sentenced to 8.5 years in federal prison for stealing $1.8 million from bank customers through wire fraud and money laundering, while simultaneously operating an online romance scam where he posed as a soldier, medical patient, or gold dealer to manipulate victims into sending money. One victim alone lost approximately $400,000 after Oduro convinced her that her deceased husband had stolen valuable artwork. Oduro was initially arrested in 2022, rearrested in November 2023 for continuing his scams, and has been ordered to repay all stolen funds.
ottawa.ctvnews.ca
· 2025-12-08
I'm unable to provide a summary of this article as the text provided does not contain the actual article content—only a title and a list of unrelated shopping and product recommendation articles. To create an accurate summary for the Elderus database, please provide the full article text about the Ottawa man intercepting a bitcoin scam targeting an elderly woman.