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in Crypto Investment Scam
thesun.my
· 2025-12-08
I cannot summarize the requested article because the provided text does not contain the full article about the missing man found in Tatau pond. The title is given, but only the opening sentence appears before the content switches to an unrelated news feed containing various Malaysian news stories about politics, sports, crime, and infrastructure. To provide an accurate summary for the Elderus database, I would need the complete article text about this incident.
newskarnataka.com
· 2025-12-08
A Mangaluru resident lost ₹22,59,613 to an online trading scam that began in October 2024 after he clicked a link from a Facebook video featuring a deepfake of Union Finance Minister Nirmala Sitharaman. Multiple fraudsters posing as traders and bank officials contacted him over several months, convincing him to make repeated transfers under false pretenses including taxes, penalties, and money laundering threats. The victim filed a police complaint in March 2025 when he realized no profits or withdrawals would materialize, and investigations are ongoing at Kankanady Town Police Station.
thevibes.com
· 2025-12-08
A 54-year-old senior university lecturer in Malaysia lost RM172,170 across two separate scams: RM162,170 to a fraudulent cryptocurrency investment platform called "cryptoproe" he was lured into via a fake Hong Kong woman on social media, and RM10,000 (partially) to a parcel delivery scam orchestrated through an online romance. In a separate incident, a 67-year-old engineer lost RM230,000 to a fake stock market investment scheme called "Elite Group" promoted via WhatsApp, which promised unusually high returns but repeatedly requested additional payments. All cases are being investigated under Malaysia's Penal Code Section
stuttgartdailyleader.com
· 2025-12-08
Scammers are impersonating police officers to call victims about allegedly missed jury duty, threatening arrest and directing them to fraudulent websites to harvest personal information like Social Security numbers and birthdates, with some demanding fines up to $10,000 or cryptocurrency payments. Red flags include caller ID spoofing, requests for payment via cash, gift cards, payment apps, or cryptocurrency, and fake government seals on phishing websites. Victims should hang up immediately, verify information by contacting the actual court directly, and report the scam to the FTC.
slate.com
· 2025-12-08
This article documents an investigation into "task scams," a rapidly growing fraud scheme where victims are recruited via text messages with promises of earning $50-$400 daily for minimal work like testing products or rating images online. According to the FTC, task scam reports skyrocketed from 5,000 in 2023 to 20,000 in the first six months of 2024, with reported losses exceeding $220 million in that period alone, though actual losses are believed to be significantly higher since most victims never report the fraud. These scams typically seek personal information or money from victims through fake checks, gift card purchases, or other schemes, despite appearing to offer legitimate remote work
consumer.ftc.gov
· 2025-12-08
Scammers are impersonating police officers in calls claiming victims missed jury duty and owe fines, directing them to fake websites to steal personal information like Social Security numbers and birthdates, with some demanding up to $10,000 in fines or cryptocurrency payments. The scheme uses spoofed caller IDs, official-looking but fraudulent websites with government seals, and fake payment methods to deceive victims. Consumers should recognize that legitimate law enforcement will not threaten arrest over the phone or demand payment via cash, gift cards, cryptocurrency, or wire transfers, and should instead verify any jury duty claims by contacting the court directly using known contact information.
therecord.media
· 2025-12-08
The U.S. Treasury Department's Financial Crimes Enforcement Network warned that cryptocurrency ATMs are increasingly being exploited for scams and money laundering, with the FBI receiving nearly 11,000 complaints and documenting $246.7 million in victim losses last year. The machines, found in commercial spaces like gas stations, are particularly vulnerable when operators fail to comply with anti-money laundering regulations, and scammers primarily target seniors by instructing them to deposit cash at unregistered kiosks. The Treasury urged financial institutions to monitor for suspicious patterns such as multiple below-threshold deposits and significant cash withdrawals intended for crypto ATM use.
amlintelligence.com
· 2025-12-08
In 2024, criminals increasingly exploited cryptocurrency ATMs to steal from victims, with the FBI receiving nearly 11,000 complaints resulting in $246.7 million in losses—a 99% increase in complaints and 31% increase in losses from 2023. The U.S. Financial Crimes Enforcement Network (FinCEN) warned financial institutions to monitor suspicious activity at crypto kiosks, noting that scams involving these terminals disproportionately impact older adults and commonly include tech support, customer service, and bank imposter schemes. FinCEN emphasized that inadequate oversight by kiosk operators increases the risk of illicit activity and called on financial institutions to recognize re
tradingview.com
· 2025-12-08
A UPay analysis of 236 major crypto scam cases revealed losses exceeding $60 billion, with the largest single loss being $40 billion from the Luna Yield collapse. The most prevalent scams included fraudulent trading platforms (112 cases), romance scams (46 cases), pig butchering schemes (39 cases), rug pulls (29 cases), and Ponzi schemes (28 cases). Common tactics involved building fake relationships to lure victims into fraudulent platforms with inflated balances, fake profit displays, hidden withdrawal fees, brand impersonation, and rug pulls where developers disappear after raising funds—with individual victims losing hundreds of thousands of dollars in each
financemagnates.com
· 2025-12-08
This article is not relevant to the Elderus elder fraud research database. The content is a promotional announcement for a fintech industry panel discussion about trading technology, platform risk management, and AI in financial markets—topics unrelated to elder fraud, scams, or elder abuse. No summarization is needed.
southtexasnews.com
· 2025-12-08
Scammers are exploiting QR codes through various fraud schemes including fake parking meter payments, romance scams with cryptocurrency wallets, phishing attacks, and government impersonation, with codes typically shared via unsolicited messages or posted in public places. To protect themselves, consumers should confirm QR codes before scanning, avoid codes from strangers, be wary of shortened URLs that hide destination links, and check for signs of tampering on posted codes. Victims of QR scams should report incidents to BBB.org/ScamTracker.
bizzbuzz.news
· 2025-12-08
BreadXPay is a fraudulent fintech platform orchestrated by Joshua Sneider that targets retirees worldwide with promises of cross-border payment solutions and high investment returns (up to 10% monthly). The scam operates through shell companies registered in jurisdictions like Canada and the UK with puppet directors, funneling victim deposits through offshore accounts where they disappear; one documented case involved a 72-year-old Florida teacher who lost her $25,000 life savings after receiving fabricated account statements and being blocked from withdrawals. Elder financial abuse through schemes like this costs seniors over $28.3 billion annually globally.
cryptotimes.io
· 2025-12-08
FinCEN warned banks that cryptocurrency ATMs are increasingly used for money laundering and elder fraud schemes, with criminal organizations including Mexican drug cartels exploiting these machines' minimal verification requirements. In 2024, the FBI received nearly 11,000 fraud complaints involving crypto ATMs resulting in $246 million in losses, with scammers typically impersonating tech support or government officials to trick elderly victims into withdrawing cash and sending it to untraceable digital wallets. FinCEN is urging financial institutions to monitor suspicious crypto ATM activity and support proposed legislation that would impose transaction limits and require fraud warnings at these kiosks.
theguardian.com
· 2025-12-08
The Liberal Democrats called for urgent regulation of YouTube advertising after scams involving deepfakes, impersonated public figures, and fraudulent investment schemes proliferated on the platform with minimal oversight. Notable examples included AI-generated deepfake ads impersonating consumer champion Martin Lewis to promote cryptocurrency schemes, as well as ads for fake products, scam diet pills, and government grant impersonations that remained online for days before removal. The party is urging the UK government to bring YouTube under the same pre-approval and independent enforcement standards as traditional broadcasters, with Ofcom given powers to levy fines and redirect revenues to scam victims.
ainvest.com
· 2025-12-08
A cryptocurrency user lost $3.05 million in a sophisticated phishing scam after signing a malicious transaction that granted a scammer long-term wallet access through an ERC-20 token approval; the attacker waited over 458 days until the victim's balance was substantial before executing the theft in August. This incident exemplifies a growing trend of delayed approval-based scams where once users sign approval transactions, the permissions remain active indefinitely unless manually revoked, creating extended vulnerabilities. Security analysts warn that users often lack awareness of active token approvals, and while tools exist to revoke permissions, associated gas fees deter action, leaving victims with limited recourse as blockchain transfers are typically
newsday.com
· 2025-12-08
Job scams have surged significantly in recent years, with victims losing over $220 million in the first half of 2024 as scammers impersonate recruiters via text, email, and fake postings on legitimate job sites to steal money and personal information. Experts advise job-seekers to avoid unsolicited offers, never provide sensitive personal data or payment upfront, and be particularly cautious of remote work opportunities promising high pay for minimal effort. The rise of remote work and AI technologies have made these scams easier to execute and harder to trace.
tradingview.com
· 2025-12-08
WhatsApp removed 6.8 million accounts linked to "pig butchering" scams, which combine romance-baiting with fake investment fraud schemes that often result in cryptocurrency losses. Scammers used AI tools like ChatGPT to generate initial contact messages, then moved victims to Telegram where they were shown fake profits before requesting real money deposits. A study of 236 major cryptocurrency scam cases found total losses exceeding $60 billion, with pig butchering schemes accounting for 39 cases and representing one of the most damaging forms of fraud due to extended manipulation periods lasting months or years.
newindianexpress.com
· 2025-12-08
Bengaluru has experienced a surge in online dating scams where fraudsters build emotional relationships with victims on matrimonial and dating apps before exploiting them through sextortion or fake investment schemes. Recent cases include a 32-year-old software engineer who lost Rs 79.3 lakh investing in a fraudulent trading app and a 37-year-old businessman who lost Rs 5.5 lakh in a sextortion scam. Cybercrime police advise against sharing personal or financial information with online strangers and warn against promises of quick financial returns.
alreporter.com
· 2025-12-08
Senators Katie Britt (R-Alabama) and Kirsten Gillibrand (D-New York) introduced the bipartisan GUARD Act to combat financial scams targeting older Americans, particularly those using cryptocurrency and blockchain technologies. The legislation would allow state and local law enforcement to use existing federal grant funding to hire personnel and deploy advanced tracing tools, addressing gaps that enable scammers to escape prosecution. According to the Federal Trade Commission, Americans aged 60 and older lost over $2.3 billion to fraud in 2024—a 21% increase from 2023—with experts estimating total unreported fraud at $61.5 billion, including growing "
boredpanda.com
· 2025-12-08
This article discusses various scams and questionable spending habits that millennials fall victim to, including multilevel marketing schemes, online sports betting, rage bait engagement, fake detox products, and premium food delivery services. The piece compiles Reddit comments from millennials admitting to these scams, though commenters debate whether some items (like detox products and food delivery) are actual scams or simply poor financial decisions and that similar issues affected previous generations.
mondaq.com
· 2025-12-08
Romance scams have evolved to exploit cryptocurrency investments rather than traditional forex trading, using dating apps as the initial contact point where scammers build emotional trust with victims before directing them to fake investment platforms. The scam operates by showing fabricated profits on fraudulent websites, then requesting additional "fees" or "taxes" to withdraw funds, with victims often investing money they cannot afford to lose and accumulating debt. The article advises protecting yourself by recognizing that emotional manipulation combined with promises of easy investment returns are classic warning signs, and following the principle of never investing more than you can afford to lose.
yahoo.com
· 2025-12-08
Three Texas men were arrested for defrauding approximately 75 elderly victims of $1.5 million through a loan scheme in which they posed as business representatives offering to reduce utility bills, then fraudulently applied seniors' electronic signatures to 20-year loans ($13,000-$32,500 per victim) without consent. The article notes that elder fraud has become increasingly sophisticated, with 2023 losses exceeding $3.4 billion nationally among seniors aged 60+, now involving investment schemes, cryptocurrency fraud, and AI-enhanced techniques like voice cloning and deepfakes.
international-adviser.com
· 2025-12-08
Investment scams are now among the most common consumer scams in the UK, often initiated through phone calls, emails, or social media with promises of guaranteed returns and exclusive opportunities. Common types include fake broker scams using cloned websites and cryptocurrency trading platform scams that show fake returns before freezing withdrawals; red flags include high-pressure tactics, lack of verifiable company addresses, requests for payment to personal accounts or cryptocurrency, and unregulated platforms. The FCA and consumer protection bodies recommend verifying company details on the FCA register, taking time to research independently, and avoiding firms that pressure quick decisions or request unusual payment methods.
wired.com
· 2025-12-08
This article describes a cybersecurity researcher's discovery of leaked data from North Korean IT worker operations that generate an estimated $250-600 million annually for the regime through remote job fraud schemes. The leaked emails, spreadsheets, and documents reveal how North Korean workers use fake identities and meticulous tracking systems to infiltrate companies globally and funnel earnings back to support weapons development programs. The operation involves dozens of workers organized into groups who systematically apply for tech positions at major companies and freelance platforms while coordinators help cover their digital tracks.
ftc.gov
· 2025-12-08
FTC reports document a surge in imposter scams targeting retirees, with scammers posing as trusted government agencies and businesses to drain bank accounts and retirement funds through fake security alerts and false criminal accusations. From 2020 to 2024, reports of older adults losing $10,000 or more increased fourfold, while reports of losses exceeding $100,000 increased nearly sevenfold. These scams exploit older adults' vigilance about financial security by creating false urgency through phone calls and fabricated crises, instructing victims to transfer funds, use Bitcoin ATMs, or hand cash to couriers—tactics the real FTC and legitimate companies never use.
thepress.net
· 2025-12-08
Fraudsters stole over $12.5 billion from Americans over 55 in 2024, a 25% increase from $10 billion in 2023, according to the FTC's Consumer Sentinel Network report. Seniors are targeted due to limited online experience, accumulated wealth, and social isolation, with common scams including grandparent schemes, romance scams, impersonation of government agencies or utilities, tech support fraud, home repair scams, and cryptocurrency schemes. Experts advise that pressure to act quickly is a hallmark of scams, and legitimate government agencies and corporations typically do not contact people via unsolicited text messages or calls demanding immediate payment.
wlrn.org
· 2025-12-08
Miami-Dade County Sheriff Rosie Cordero-Stutz testified before the U.S. Senate Special Committee on Aging that scammers are using increasingly sophisticated schemes—including AI-generated scams, cryptocurrency theft, and robocalls—to target senior citizens, with losses exceeding $4.8 billion for Americans over 60 in the past year alone. The sheriff emphasized that victims often don't report scams due to shame and fear, and highlighted emerging threats including HOA fraud targeting elderly homeowners in South Florida. Law enforcement officials stressed the importance of rapid reporting to increase chances of recovering stolen funds and prosecuting criminals before they disappear and reinvent their schemes.
wlrn.org
· 2025-12-08
Scammers are targeting senior citizens with increasingly sophisticated schemes including AI-generated scams, cryptocurrency theft, and robocalls, resulting in losses exceeding $4.8 billion for Americans over 60 in the past year alone, according to Miami-Dade County Sheriff Rosie Cordero-Stutz. Common tactics include impersonation of grandchildren, government officials, and businesses, with victims often too ashamed or fearful to report the crimes. Law enforcement officials are calling for enhanced tools and resources to track scammers, rapid reporting by victims, and heightened awareness of emerging threats like HOA and condo fraud targeting elderly homeowners.
aarp.org
· 2025-12-08
In 2023, older adults lost nearly $62 billion to scams and fraud out of an estimated $158 billion stolen overall, according to the FTC, with victims suffering devastating consequences including loss of homes and significant health/emotional impacts. The AARP Fraud Watch Network Helpline received over 100,000 calls in 2024 from scam targets, with notable cases including a Florida man defrauded of $400,000 from a home sale and another victim losing $650,000 to a romance scam. Scams have become increasingly sophisticated through artificial intelligence, deepfakes, and social media, prompting AARP to urge lawmakers to strengthen frau
vovworld.vn
· 2025-12-08
Meta's Decode Scam campaign identifies seven prevalent online scams targeting internet users: messaging scams (smishing) using fake links, romance scams building fake relationships to extract money, investment scams promising unrealistic returns, impersonation scams stealing identities, online shopping scams with fake websites, job scams exploiting job seekers, and account hacking scams. The campaign highlights how scammers manipulate victims through trusted channels, emotional connections, or false promises of financial gain and employment opportunities.
yahoo.com
· 2025-12-08
Rep. David Valadao introduced the bipartisan Romance Scam Prevention Act in response to a surge in romance fraud, which scammers use to steal personal information, money, and assets from victims who believe they are in genuine relationships. One victim, Jackie Crenshaw, lost over $1 million after being deceived by a scammer posing as "Brandon Miller," ultimately resulting in a $57,000 IRS bill and preventing her from retiring; AARP reported receiving 100,000 fraud calls in 2024. The proposed legislation would require dating sites to track scammers and notify victims in an effort to combat the growing problem.
cryptorank.io
· 2025-12-08
Senior citizens lost $700 million to imposter scams in 2024, a 362% increase from $122 million in 2020, with scammers posing as bank employees, tech support, or government officials to convince victims to transfer funds for "safety." The FTC received 8,269 reports from Americans aged 60+ who each lost at least $10,000, and high-value losses exceeding $100,000 surged 700% during this period, often depleting entire life savings including retirement accounts. The agency notes actual fraud rates likely exceed these figures due to underreporting by seniors who feel embarrassed or unsure how to file complaints.
southernmarylandchronicle.com
· 2025-12-08
Federal Trade Commission data reveals a more than four-fold increase since 2020 in reports from adults 60 and older losing $10,000 or more to impersonation scams, with combined losses exceeding $100,000 jumping from $55 million in 2020 to $445 million in 2024. Common tactics include fraudsters posing as government officials, banks, or tech companies to convince victims to transfer funds via cryptocurrency, gift cards, or courier delivery under false pretenses of account protection or legal issues. The FTC reported $12.5 billion in total scam losses nationally in 2024, with older adults accounting for $2.3 billion an
ainvest.com
· 2025-12-08
**Summary:**
The U.S. Treasury Department's FinCEN warned in 2024 that Bitcoin ATM fraud had surged dramatically, with nearly 11,000 complaints and estimated victim losses of $247 million. Elderly individuals were the primary targets of these scams, which also involved money laundering activities through non-compliant crypto ATM operators. FinCEN urged financial institutions to implement proactive detection measures and file suspicious activity reports for transactions exhibiting red flags such as multiple sub-threshold deposits and ATMs lacking proper customer identification requirements.
guardian.co.tt
· 2025-12-08
Shiva Bissessar, managing director of Pinaka Consulting Ltd., is advocating for public-private partnerships to combat online scams, which disproportionately affect elderly and youth populations. According to FBI data presented at international conferences in 2024, investment fraud caused over $6.5 billion in losses in the U.S., while phishing remains the most frequently reported crime type, with emerging threats including romance scams and AI-enabled deepfakes. Bissessar noted that Trinidad and Tobago lacks adequate data collection and classification systems to measure the true prevalence of these crimes locally, and calls for stronger coordination between authorities and social media platforms to address online harms.
cbsnews.com
· 2025-12-08
Apple co-founder Steve Wozniak advocates for stronger consumer protections against internet fraud, particularly regarding scams involving AI, cryptocurrency, and fabricated messages. He is pursuing a lawsuit against YouTube to establish better safeguards for fraud victims, though his efforts face challenges from legal protections that shield online publishers from liability.
cbsnews.com
· 2025-12-08
Steve Wozniak became a victim of a cryptocurrency scam when fraudsters used deepfake videos of him on YouTube to solicit bitcoin, claiming they would double any amount sent to them. Victims like Jennifer Marion lost significant sums—Marion lost $59,000 in bitcoin with nothing returned—but Wozniak's five-year lawsuit against YouTube has stalled due to Section 230 of the Communications Decency Act, which shields social media platforms from liability for user-posted content. Wozniak argues the law is too broad and enables platforms to ignore fraudulent activity without consequence.
inkl.com
· 2025-12-08
Seniors are increasingly targeted through crypto ATM scams using seven common tactics: fake tech support calls, grandparent emergency scams, romance fraud, government impersonation, fake investment schemes, utility bill threats, and QR code tricks. These scams exploit the irreversible nature of cryptocurrency transactions and the emotional vulnerability of older adults through urgency, authority, and personal relationships. The article advises seniors to verify requests independently through official channels, avoid sending cryptocurrency for emergencies or payments, and consult trusted contacts before transferring money.
govinfosecurity.com
· 2025-12-08
Four Ghanaian nationals were extradited to the United States and charged with stealing over $100 million through romance scams and business email compromise (BEC) attacks targeting U.S. victims and organizations from 2016 to May 2023, with particular focus on vulnerable older men and women. The criminals, operating as part of a "sakawa" criminal organization, used fake identities and forged email accounts to trick victims into sending money or laundering stolen funds through shell company bank accounts in the U.S. before funneling proceeds to West Africa; three defendants have been extradited and face up to 75 years in prison, while one remains at large.
amp.scmp.com
· 2025-12-08
A 47-year-old Hong Kong woman lost nearly HK$2 million (US$254,778) in a "pig butchering" romance scam after being deceived by an online stranger claiming to be a U.S. gold investment professional. The victim transferred HK$300,000 of her life savings and borrowed HK$1.6 million from friends, converting it to cryptocurrency, despite warnings from acquaintances; police reported this was one of over 50 similar romance scams totaling HK$16 million in value reported in the same two-week period.
chinadailyasia.com
· 2025-12-08
Hong Kong reported over 50 cyber-romance scams in two weeks, including a "pig-butchering" scheme where a 47-year-old woman lost nearly HK$2 million ($255,000) after being lured into fake investment opportunities by someone she met online. Criminologists advise the public to remain vigilant in online relationships, insist on face-to-face meetings, reject unrealistic investment pitches, and immediately report suspicious activity, noting that scammers exploit loneliness by posing as educated professionals and gradually escalating financial requests.
scmp.com
· 2025-12-08
A 47-year-old Hong Kong woman lost nearly HK$2 million (US$254,778) in a "pig butchering" romance scam over two weeks, after a stranger posing as a U.S. gold investment professional convinced her to transfer her HK$300,000 life savings and borrow an additional HK$1.6 million in cryptocurrency, despite warnings from friends. Police reported this was one of over 50 similar online love scams totaling more than HK$16 million received in the same two-week period.
chinadailyasia.com
· 2025-12-08
Hong Kong police received over 50 reports of online romance scams in two weeks with losses exceeding HK$16 million ($2.04 million). A 47-year-old woman lost nearly HK$2 million after being romantically manipulated by a scammer posing as a U.S. gold investor; she transferred her life savings and borrowed additional funds converted to cryptocurrency at his request before discovering the fraud. Police advised victims to insist on meeting contacts in person, maintain skepticism toward investment offers, and use the Scameter tool to assess fraud risks.
foxnews.com
· 2025-12-08
In the first half of 2025, WhatsApp removed 6.8 million accounts linked to global scam networks, including operations run by criminal groups and forced labor camps in Southeast Asia. Scammers increasingly use multiple platforms (text, dating apps, WhatsApp, Telegram, crypto exchanges) to execute schemes, with a recent operation using ChatGPT to generate fake job offers that ultimately solicited cryptocurrency deposits. WhatsApp is countering these threats with new safety features including group safety overviews for unknown contacts and alerts for messages from non-contacts, while experts recommend a three-step prevention approach: pause before responding to unknown contacts, question suspicious requests for money or personal
mondaq.com
· 2025-12-08
On August 4, 2025, FinCEN issued a warning about escalating criminal misuse of convertible virtual currency (CVC) kiosks, noting that over two-thirds of kiosk-related fraud losses in 2024 affected seniors who were targeted through tech support and government impersonation scams directing them to transfer funds via the kiosks. The notice also identified widespread operator noncompliance with Bank Secrecy Act requirements and documented use of CVC kiosks by drug cartels for money laundering through structuring transactions below reporting thresholds and using multiple machines across jurisdictions.
nature.com
· 2025-12-08
Vietnamese victims, particularly educated professionals, were lured to Cambodia through fraudulent job postings by Chinese-led criminal syndicates operating "pig-butchering" scams between 2018-2023, where they were trafficked, confined, and coerced into committing cyber fraud against others. This mixed-methods study of 10 cases and interviews with 12 Vietnamese police officers reveals complex multi-layered networks targeting skilled workers with promises of IT, programming, and customer service positions, creating "victim-offender overlaps" where trafficked individuals are simultaneously victimized and forced to victimize others. The research highlights the need for greater focus on the intersection of human trafficking, cyber
states.aarp.org
· 2025-12-08
AARP's Fraud Watch Network developed a universal anti-fraud framework called "Pause. Reflect. Protect." to help consumers recognize and avoid scams. The framework identifies three common triggers present in most fraud attempts—unexpected contact, surge of emotion, and urgency—that should prompt an "Active Pause," allowing people to step back and logically evaluate whether a situation makes sense before responding. By recognizing these three elements and engaging critical thinking rather than emotional reaction, consumers can protect themselves from a wide range of scams including tech support, toll road, and grandparent schemes.
jfs.ohio.gov
· 2025-12-08
Ohio state agencies warn of rising cryptocurrency scams targeting older adults, where scammers contact victims via phone, text, or email claiming they must pay fines or correct banking errors using Bitcoin or gift cards. The Ohio Department of Job and Family Services and Department of Aging urge residents and families to remain vigilant against these virtual currency fraud schemes.
americascreditunions.org
· 2025-12-08
FinCEN issued guidance alerting financial institutions to a rising trend of scam payments involving cryptocurrency ATMs (CVC kiosks), where scammers contact victims—particularly elderly individuals—via unsolicited calls impersonating banks, government agencies, or tech support to direct them to deposit cash into crypto ATMs. According to FTC data, older adults account for more than two-thirds of all losses from CVC kiosk scams, with criminals often instructing victims to structure transactions across multiple deposits or kiosks to evade reporting thresholds. The advisory identifies red flags for credit unions and CVC operators to detect suspicious activity, including unusual high-value withdrawals, elderly members with no
stlpr.org
· 2025-12-08
A 31-year-old St. Louis-area man, Chaman Silverio Balbuena, has been indicted as part of a 13-person grandparent scam operation that defrauded over 400 elderly victims of more than $5 million. Balbuena, along with co-conspirators in the Dominican Republic, used fake emergency calls claiming grandchildren needed legal fees for accident-related lawsuits, then employed him as a "runner" to collect cash via rideshare drivers—netting at least $350,000 from 25 victims between November 2022 and February 2023. He faces charges for conspiracy to commit mail and wire frau