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in Crypto Investment Scam
bbc.com
· 2025-12-08
A man in his 60s was arrested in Seoul for littering but was found to be a fugitive wanted for a cryptocurrency scam that defrauded 1,300 people of 17.7 billion won ($13 million) over five years. Police became suspicious when he resisted the minor citation, refused to provide identification, and attempted to bribe officers, prompting them to investigate and uncover his outstanding arrest warrant for 10 fraud-related charges. The case highlights rising global cryptocurrency-related crimes, with platforms losing $2.2 billion to theft in 2024 alone.
whiznews.com
· 2025-12-08
The Ohio Department of Jobs and Family Services warned of rising cryptocurrency scams targeting the elderly, with victims in Muskingum County losing over $138,000 in 2025 alone due to the irreversible nature of crypto transactions. Officials advise Ohioans to be skeptical of urgent requests for crypto or gift cards from phone calls or emails claiming to be from banks or government agencies, and to report suspected elder exploitation of individuals 60 and older to local Adult Protective Services.
tribtoday.com
· 2025-12-08
Scammers are increasingly targeting senior citizens with evolving schemes involving cryptocurrency, gift cards, and virtual currencies, often using urgent or threatening language about fines, arrests, or family emergencies to pressure victims into immediate payment. Ohio reported 16,741 financial exploitation referrals of older residents between July 2024 and June 2025, demonstrating the widespread impact of these frauds. Key prevention measures include avoiding sharing personal or financial information with unsolicited contacts, verifying requests through official phone numbers, researching businesses before sending money, and trusting instincts when offers seem suspicious.
supercarblondie.com
· 2025-12-08
An Ohio man was scammed out of $70 after receiving fake AI videos on Facebook from an account impersonating singer Jelly Roll, claiming he had won $50,000 and a car. The victim was convinced by a second video in which the AI used his full name, and was instructed to send money via Apple gift cards before a family member warned him of the scam. The victim reported the incident to police and is warning others to be skeptical of unsolicited prize claims and requests for payment via gift cards.
pulse.com.gh
· 2025-12-08
Nigeria deported over 100 foreign cybercriminals (primarily Chinese and Filipino nationals) convicted of orchestrating romance and cryptocurrency investment scams that defrauded victims worldwide out of millions. The deportations, announced by Nigeria's Economic and Financial Crimes Commission, were part of a larger crackdown that arrested 792 suspected cybercriminals in Lagos in December, signaling the country's commitment to combating international fraud syndicates that exploit its infrastructure to target victims in North America and Europe.
adomonline.com
· 2025-12-08
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese, 39 Filipino, and 3 others) convicted of cyber-terrorism and internet fraud, with additional deportations of 51 more individuals occurring since mid-August. The deportations are part of a broader crackdown on online scam operations based in Nigeria that lure victims—primarily Americans, Canadians, Mexicans, and Europeans—through romance schemes and fake cryptocurrency investment opportunities. These sophisticated fraud operations, often involving foreign criminal syndicates exploiting Nigeria's weak cybersecurity infrastructure in collaboration with local accomplices, have left victims unable to recover savings, business capital, and borrowed funds.
cryptopolitan.com
· 2025-12-08
Nigeria's Economic and Financial Crimes Commission (EFCC) deported 102 foreign nationals (60 Chinese and 39 Filipino) convicted of cyber-terrorism and internet fraud, following their June conviction by federal high court and arrest in December 2024 after dismantling their operational base in Lagos. The deportations are part of intensified crackdowns on online scams, including fake cryptocurrency investment schemes like Crypto Bridge Exchange, which defrauded Nigerian victims of their entire savings and reportedly led to suicides. The EFCC, working with foreign criminal networks that recruit young Nigerian accomplices, continues identifying and shutting down scam hideouts while targeting victims primarily in the United States, Canada
graphic.com.gh
· 2025-12-08
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese and 39 Filipinos) convicted of cyber-terrorism and internet fraud, with additional deportations of 51 more individuals ongoing. The deportations are part of a broader crackdown on online scam operations based in Nigeria that use romance schemes and fake cryptocurrency investment offers to defraud victims—primarily Americans, Canadians, Mexicans, and Europeans—out of their savings and business capital. The scams involve foreign criminal syndicates recruiting Nigerian accomplices to conduct phishing attacks and convince victims to transfer money or reveal sensitive account information.
myjoyonline.com
· 2025-12-08
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese and 39 Filipinos) convicted of cyber-terrorism and internet fraud, with additional deportations of 51 more foreign nationals ongoing, following a December operation that arrested 792 suspected cybercriminals in Lagos. These foreign cybercrime syndicates, often working with Nigerian accomplices, targeted victims primarily in the United States, Canada, Mexico, and Europe through romance scams and fraudulent cryptocurrency investment schemes that deceived victims into transferring money or revealing sensitive financial information.
shiawaves.com
· 2025-12-08
Nigeria deported 102 foreign nationals (60 Chinese and 39 Filipinos) convicted of cyber-terrorism and internet fraud as part of a crackdown on cryptocurrency scam operations that targeted victims in the Americas and Europe, often causing them to lose their life savings. The deportations followed the arrest of 792 individuals in Lagos in December 2024, with criminals using sophisticated romance scams to lure victims into fake cryptocurrency investments and exploiting local recruits known as "Yahoo Boys."
centralnews.co.za
· 2025-12-08
DIRCO spokesperson Clayson Monyela warned South Africans against fake foreign job offers promoted on social media platforms like TikTok and Instagram, which are fronts for human trafficking networks that exploit victims through forced labor and illegal schemes. The warning follows multiple documented cases where South Africans were lured abroad with promises of jobs in Myanmar, Thailand, and Cambodia, only to be trapped in cyber-scam operations or forced labor with confiscated passports; DIRCO has successfully repatriated numerous victims but others remain missing. The scam particularly targets vulnerable young people and job seekers amid South Africa's high unemployment rates, and authorities recommend verifying offers through official channels such as embassies or
securityboulevard.com
· 2025-12-08
U.S. Rep. David Schweikert proposed the Scam Farms Marque and Reprisal Authorization Act in 2025, which would authorize the president to issue letters of marque to private "cyber privateers" to combat foreign cybercriminal organizations running romance scams, pig-butchering schemes, and ransomware attacks. The proposal targets Southeast Asian cyberscam farms (particularly in Laos, Myanmar, and Cambodia) that generate an estimated $40 billion annually and hold hundreds of thousands of enslaved workers, following reports that U.S. citizens lost $16 billion to scams in 2024, with seniors over 60 losing nearly
dailyhodl.com
· 2025-12-08
**Bank Spoofing Scam – Texas Woman Convicted**
Audrey Michelle Townsend was convicted of spoofing JPMorgan Chase and fraudulently transferring $49,000 from a Georgia elderly couple's account in February 2024. The victim, Gloria Moss, received a fake text appearing to be from the bank, called the provided number, and unknowingly shared account verification codes with the scammer, enabling the unauthorized transfer to Townsend's Texas bank account. JPMorgan Chase initially refused reimbursement but reversed course after media attention and law enforcement investigation, ultimately refunding the full amount; Townsend received a
hayspost.com
· 2025-12-08
Scammers posing as banks, government agencies, and businesses are increasingly targeting retirees by creating fake crises around account fraud, identity theft, or computer security to pressure victims into transferring money. According to a new FTC report, reported losses from business and government impostor scams among adults 60+ have surged dramatically, with losses exceeding $100,000 increasing nearly sevenfold between 2020 and 2024, with many victims losing tens or hundreds of thousands of dollars. The FTC advises never transferring money in response to unsolicited calls or messages, verifying requests through independently confirmed contact information, and remembering that legitimate government agencies never demand immediate money transfers
abc.net.au
· 2025-12-08
A study by the International Justice Mission documented 493 global cases of child sextortion linked to South-East Asian scam compounds along the Thai-Myanmar border and in Cambodia, where trafficked workers are forced to blackmail victims using intimate images or AI-generated content. The research cross-referenced US cyber tip line data from 2022-2024 with known scamming hub locations, finding that criminal networks are expanding beyond romance and cryptocurrency fraud to include sextortion tactics, with minors increasingly becoming victims despite not being deliberately targeted. Survivors reported that scammers pose as attractive individuals online, capture screenshots during video calls, and use them for extortion, while some perpetrators pose as telehealth
pulse.com.gh
· 2025-12-08
This educational article outlines eight categories of federal crimes that attract FBI investigation, ranging from terrorism and espionage to cybercrime, public corruption, civil rights violations, and organized crime. The piece provides examples of each category, such as the 2013 Boston Marathon bombers' online radicalization, the 2021 Colonial Pipeline ransomware attack, and the Equifax data breach affecting 147 million Americans. The article is designed to inform readers about activities—both intentional and unintentional—that could trigger FBI scrutiny beyond commonly known offenses like terrorism or organized crime.
dailyhodl.com
· 2025-12-08
A 26-year-old Texas woman, Audrey Michelle Townsend, was sentenced to 20 years (5 in prison, 15 on probation) after pleading guilty to theft and four counts of elder abuse for orchestrating a phishing scheme that defrauded an elderly couple of $49,000 in February 2024. Townsend impersonated a Chase Bank representative via text, tricking Gloria Moss into providing account verification information, which enabled the unauthorized transfer of funds to an account in Townsend's name; Chase ultimately reimbursed the victims after media attention and intervention by the district attorney's office.
roanoke.com
· 2025-12-08
Gareth West, alleged leader of a grandparent scam network operating out of Montreal, was arrested in Quebec for defrauding American seniors of approximately $30 million through a complex scheme employing dozens of people. The article also documents a specific case in which Roanoke residents Ewell and Louise Beirne lost $75,000 after clicking on a fraudulent pop-up warning about their bank account, and provides ten key fraud prevention tips including refusing urgency, verifying through official channels, avoiding irreversible payment methods, and resisting pressure to keep transactions secret.
decripto.org
· 2025-12-08
Decripto.org reports that online scams and crypto-fraud schemes—including fake trading, Ponzi schemes, romance scams, and recovery scams—are causing severe psychological and financial devastation to thousands of victims, many of whom are driven to despair in cases that remain unreported. Traditional criminal organizations are increasingly shifting from drug and arms trafficking to digital fraud due to its higher profitability and lower detection risk, enabled by low-cost infrastructure and AI technologies. The organization calls for immediate coordinated action from political leadership, law enforcement, and financial regulatory authorities to implement prevention strategies, digital education, specialized investigation units, and comprehensive victim support rather than allowing this crisis to continue unchecked.
forbes.com
· 2025-12-08
Imposter scams cost Americans $2.95 billion annually and rank as the second most costly fraud type, with scammers commonly posing as government agencies or law enforcement to demand immediate payment or personal information. Russell Tafron Weatherspoon was convicted of operating a multistate scam (March 2022–April 2024) where he and accomplices spoofed law enforcement phone numbers to tell victims that arrest warrants had been issued, demanding bond payments; similarly, Anthony Sanders was indicted in January 2025 for a jury duty scam in which he posed as a Sarasota sheriff and extorted over $12,000 in Bitcoin from a victim by threatening
slguardian.org
· 2025-12-08
A Colorado man lost his entire life savings and retirement funds totaling $1.4 million in a cryptocurrency romance scam after meeting a woman on Ashley Madison who posed as a successful crypto investor and convinced him to transfer money into a fraudulent account over six weeks. The Colorado Bureau of Investigation traced the funds to a digital wallet but recovery is unlikely due to blockchain anonymity, making this one of the state's largest single losses from an online scam. The victim warned others to conduct due diligence on online contacts and trust their instincts, as romance scams involving cryptocurrency are rising globally.
oregonlive.com
· 2025-12-08
The FBI warns that cryptocurrency scam victims are being targeted by secondary scams in which fraudsters pose as "crypto recovery law firms" claiming to recover stolen funds through fictitious legal channels and non-existent government entities. The scammers request personal information or bank fees, exploiting victims' previous losses and detailed knowledge of their theft amounts and dates. The FBI emphasizes that legitimate government agencies do not partner with law firms or request payment to recover stolen money, and advises victims to verify credentials, request video meetings, and report suspected scams to their local FBI field office.
xinhuanet.com
· 2025-12-08
In the first half of 2025, reported scams in Australia declined 24 percent to 108,305 incidents, yet financial losses surged 26 percent to 174.8 million Australian dollars (113.5 million USD), with incidences involving financial loss increasing 40.5 percent. Shopping scams were the most prevalent type, while vulnerable populations—including English-as-second-language speakers (up 44 percent) and Indigenous Australians (up 55.3 percent)—experienced disproportionate increases in reported losses, with phishing and cryptocurrency impersonation scams accounting for 19.5 million dollars in losses.
financialpost.com
· 2025-12-08
Canadians lost $310.6 million to investment fraud in 2024, with deepfakes of celebrities and politicians used in fraudulent social media ads promising unrealistic returns. While reported cases have leveled off since 2022, experts estimate only 5-10 percent of fraud incidents are reported due to victim shame and underreporting. Younger Canadians aged 18-24 are experiencing the largest rise in reported fraud victimization, and the article advises protecting oneself through digital privacy awareness, recognizing red flags in investment ads, and reporting suspected fraud.
weare.sa.gov.au
· 2025-12-08
South Australia Police reported that Australians lost over $18.4 million to online shopping scams in 2024, with South Australians accounting for $556,000 of that total, while romance scams cost Australians $12 million nationally ($1 million in South Australia), exemplified by a woman who lost $30,000 to a fake suitor over six months. The report also highlighted a surge in sextortion cases using AI-generated deepfake images, with 284 South Australians reporting online image abuse and losing over $101,000 combined, particularly affecting males under 18. SAPOL warned of red flags including requests for cryptocurrency
tulsapeople.com
· 2025-12-08
Scam losses in Oklahoma exceeded $72 million in 2024 and have tripled over the past five years, with increasingly emotionally manipulative tactics targeting older adults. Common scams include phishing, grandparent scams, tech support fraud, romance scams, and cryptocurrency schemes. Protection strategies include pausing before clicking links, researching contacts independently, using strong passwords with two-factor authentication, avoiding cryptocurrency and gift card payments, and reporting suspected fraud to the Oklahoma Attorney General, FTC, or AARP's Fraud Watch helpline.
justice.gov
· 2025-12-08
An elderly victim in Bristolville, Ohio, and his sister lost over $1.6 million in a cryptocurrency investment scam that began with a text from an unknown person claiming to be named "Zach." The scammer, operating under the username "Shaw Goddess" on Telegram, posed as a successful investor and convinced the victim to open accounts on Crypto.com and Strike.com, ultimately directing him to transfer over $1 million to a fake investment platform; when withdrawal attempts failed, the victim realized the fraud. Federal investigators used blockchain analysis to trace approximately $200,000 of the stolen funds to a Tether cryptocurrency address, which was frozen by Tether Limited in December
infosecurity-magazine.com
· 2025-12-08
Chainalysis, Binance, OKX, and Tether collaborated to seize approximately $46.9 million in stolen cryptocurrency from a Southeast Asia-based "pig butchering" (romance baiting) scam operation that defrauded hundreds of victims between November 2022 and July 2023, with some individual victims losing over $1 million. Tether froze the funds in June 2024 at the direction of APAC law enforcement. Romance baiting losses surged 40% year-over-year in 2024, representing one-third of total crypto fraud revenue, with deposit volumes increasing 210% annually, indicating the scam
blockworks.co
· 2025-12-08
Bitcoin ATMs have become a primary tool for elder fraud, with scammers exploiting their instant, irreversible transactions to cash out stolen money quickly—more than two-thirds of losses through crypto ATM kiosks involved older adults. A FinCEN notice revealed that criminals pay up to 25% fees to convert fiat currency to cryptocurrency because the speed and difficulty of reversing CVC transactions make them far superior to traditional bank transfers for theft. Several states have begun regulating crypto ATMs to reduce their usefulness in fraud schemes.
finance.yahoo.com
· 2025-12-08
A Florida retiree lost approximately $90,000 in retirement savings to a romance scam and cryptocurrency scam over five years, forcing him to take out a home equity line of credit and accumulate debt. His daughter Sarah sought advice on how to help her father while protecting her own family's finances, with experts emphasizing the need for boundaries and compassionate communication. The case underscores a broader crisis: Americans aged 60 and older reported $4.88 billion in fraud losses in 2024, a 43% increase from 2023, with impersonation scams increasingly targeting older adults' life savings.
consumer.ftc.gov
· 2025-12-08
This is an educational resource about investment scams, particularly "affinity fraud" where scammers exploit community connections to gain trust. Scammers typically promise unrealistic high returns with minimal risk through forex, stocks, or cryptocurrency schemes, then falsely report gains while victims actually lose their money. To protect yourself, verify company licenses and registrations through Investor.gov, research the reputation of investment promoters, and remember that all legitimate investments carry risk—anyone downplaying risk is likely a scammer.
benzinga.com
· 2025-12-08
Sarah's widowed father lost $80,000-$90,000 in retirement savings to a romance scam and additional cryptocurrency scams over five years, forcing him to take out a home equity line of credit to cover the losses. The case highlighted the importance of setting financial boundaries within families and approaching victims with empathy rather than judgment to encourage them to seek help. According to the FBI, Americans aged 60 and older reported $4.88 billion in fraud losses in 2024—a 43% increase from 2023—with the FTC warning that impersonation scams are increasingly targeting older adults' life savings.
cityam.com
· 2025-12-08
The UK's Financial Conduct Authority received nearly 5,000 impersonation scam reports in the first half of 2025, with almost 500 victims losing money to fraudsters posing as the regulator through tactics including fake crypto recovery claims, bogus court judgements, and romance scams. Fraud has become the UK's most common crime, accounting for over 40 percent of offenses and causing £1.17 billion in losses in 2024, with criminals increasingly exploiting trust in regulatory institutions themselves to target vulnerable consumers, particularly those over 56. The surge highlights systemic gaps in fraud defense, requiring coordinated action across financial services firms, insurers, and government to
newsghana.com.gh
· 2025-12-08
A 32-year-old computer science graduate from Ghana was trafficked into a Southeast Asian fraud compound after accepting what appeared to be a legitimate warehouse job offer in Thailand, with the recruitment process involving forged visa documentation and transport to a remote Myanmar border facility. Criminal networks target educated Africans experiencing economic hardship, forcing trafficked workers to operate romance scams and cryptocurrency fraud schemes against worldwide victims, with the multibillion-dollar industry spanning Myanmar, Cambodia, and Laos and protected by remote locations and corrupt officials. Victims face physical abuse for failing to meet fraud quotas and often remain trapped for extended periods until escape or family payments secure their release.
todaysfamilylawyer.co.uk
· 2025-12-08
The Financial Conduct Authority (FCA) reported nearly 5,000 fake FCA scams in the first half of 2025, with fraudsters primarily targeting people over 56 years old by impersonating the regulator to extract sensitive information and money. Common schemes include falsely claiming recovered crypto funds, offering to recover losses from previous loan scams, or claiming County Court Judgements have been issued, resulting in 480 victims sending money to scammers. The FCA also warned of "pig butchering" scams, where fraudsters build personal relationships with victims before conducting investment fraud, then attempt a second fraud by posing as the FCA to "recover" the lost money
krebsonsecurity.com
· 2025-12-08
Hundreds of fraudulent online gambling websites have proliferated through a Russian affiliate program called "Gambler Panel" that lures victims with fake $2,500 credits advertised via social media with celebrity endorsements. The scam traps users into depositing cryptocurrency (typically $100) for "verification" before cashing out winnings, then pressures them into additional losing bets until their funds are depleted. Gambler Panel operates an organized operation with over 20,000 affiliates earning commissions per victim deposit, providing detailed instructions and marketing templates specifically designed to exploit players across social media platforms.
virginmedia.com
· 2025-12-08
This article outlines common social media scams including fake friend requests and impersonation accounts, malicious app downloads, data-harvesting quizzes, romance fraud, and investment/crypto schemes. Key warning signs include unrealistic offers, pressure to act quickly, suspicious requests for money or personal information, suspicious links, poor grammar, and low-quality profile photos. Users are advised to verify unfamiliar accounts, download apps only from official sources, avoid sharing financial information with online-only contacts, and be skeptical of guaranteed investment returns.
forbes.com
· 2025-12-08
Tech support scams cost consumers $1.464 billion in 2024, with scammers impersonating major tech company representatives and tricking victims—particularly Millennials and Gen Z—into believing their computers have security problems requiring expensive paid services. Common tactics include fraudulent pop-ups with phone numbers, phony calls with spoofed caller IDs, and requests for remote computer access or cryptocurrency payments; legitimate tech companies never initiate contact about security problems, request remote access, or demand cryptocurrency payment. One Massachusetts man was nearly defrauded of $12,000 through a cryptocurrency ATM before an off-duty police officer intervened.
theriverbanknews.com
· 2025-12-08
This educational article reports that scams cost Americans $16.6 billion in 2024, with 73 percent of U.S. adults experiencing online scams or attacks. The piece outlines common red flags—unsolicited contact, promises of easy money, requests for personal information or upfront payments—and describes prominent scam types including counterfeit merchandise, charity fraud, cryptocurrency investment schemes, bogus debts, home repair scams, and emergency/grandparent scams that particularly target elderly individuals.
escalontimes.com
· 2025-12-08
This educational article reports that online scams caused a record $16.6 billion in losses in 2024, with 73% of U.S. adults experiencing some form of online scam or attack. The article outlines common scam tactics (unsolicited contact, promises of easy money, requests for personal information or upfront payments) and describes six prevalent scam types including counterfeit merchandise, charity fraud, cryptocurrency investment fraud, bogus debts, home repair scams, and emergency/grandparent scams that specifically target seniors. Awareness of these warning signs can help individuals avoid becoming victims.
komando.com
· 2025-12-08
Scam operations in Southeast Asia have become a massive $19 billion underground industry where victims are trafficked into compounds and forced to perpetrate scams under threat of violence, with some dying during escape attempts. Scammers are now targeting children through AI-generated deepfake explicit content used in sextortion schemes, leading to youth suicides. Protection strategies include recognizing emotional manipulation tactics, avoiding clicking unknown links, and educating family members—particularly tweens and teens—about these threats, as reducing victim compliance reduces scam profitability.
channelnewsasia.com
· 2025-12-08
In the first half of 2025, Singapore reported 19,665 scam cases with S$456.4 million in losses—a 26% and 12.6% decrease respectively from the same period in 2024. The top scams include phishing (up 134% in losses), government official impersonation (cases tripled), investment scams (highest losses at S$145.4 million), and a newly identified insurance services scam (791 cases, S$21.3 million lost), where fraudsters impersonate insurance employees to extract personal details and payments.
asiaone.com
· 2025-12-08
Singapore reported a 12.6% decrease in total scam losses ($456.4 million in H1 2025 vs. $522.4 million in H1 2024) and a 26% decline in overall scam cases (19,665 vs. 26,563), marking the first decline since 2021. However, the median loss per case increased to $1,500, and elderly victims (age 65+) who comprised 15% of cases suffered the highest per-victim losses at $33,672, with government impersonation scams nearly tripling to 1,762 cases and phishing scams seeing losses jump 134% to $
zamin.uz
· 2025-12-08
Cyber fraud takes multiple forms with gender-based vulnerability patterns: women are disproportionately targeted by romance scams (54.9% of victims, 75.3% of financial losses), while men over 30 are more susceptible to investment and cryptocurrency fraud schemes. Other prevalent scams include fake online stores, technical support impersonation (which particularly affects older adults), with protection requiring caution against promises of quick profits or online emotional intimacy.
inquisitr.com
· 2025-12-08
A widespread scam targets Social Security recipients, particularly vulnerable seniors living alone and dependent on benefits for survival. Scammers impersonate Social Security Administration officials via phone calls, texts, or emails, falsely claiming account problems or requesting verification of information to obtain personal data (Social Security numbers, bank details) or money directly through gift cards, wire transfers, or cryptocurrency. The key warning signs include unsolicited contact, payment demands, pressure tactics, and suspicious links or misspellings; the legitimate SSA communicates only by postal mail and does not solicit sensitive information unsolicited.
foxnews.com
· 2025-12-08
Scammers are impersonating local law enforcement officials in a jury duty fraud scheme, calling victims with claims of missed jury duty and threatening arrest warrants to extort payment via wire transfers or gift cards. The scam targets vulnerable individuals by using personal information and blocked numbers to appear credible, though legitimate jury summonses are always delivered by mail. Key protections include never trusting unknown callers demanding payment, verifying claims directly with official court or police numbers, and recognizing that government agencies never request payment through gift cards or cryptocurrency.
thegeorgiasun.com
· 2025-12-08
Georgia ranks 7th nationally for senior fraud losses, with older residents losing an estimated $1.57 million per 100,000 people in 2024, while seniors across the U.S. reported $4.8 billion in fraud losses total. The most common scams targeting older adults include imposter scams, shopping fraud, and high-stakes crypto and romance schemes, with individual crypto and romance fraud cases averaging over $108,000 in losses. Experts recommend families discuss scams with elderly relatives, watch for pressure tactics and unusual payment requests, and report suspicious activity to protect the state's 1.7 million residents over 60.
newsbreak.com
· 2025-12-08
A new Social Security scam targets seniors by impersonating Social Security Administration officials through phone calls, texts, and emails, claiming victims must verify their details to receive Cost-of-Living Adjustment (COLA) benefits or face account suspension. Scammers use pressure tactics and threats of benefit loss to extract personal information like Social Security numbers and bank details, or to pressure victims into sending money via gift cards, wire transfers, or cryptocurrency. The SSA never initiates unsolicited contact requesting sensitive information; legitimate COLA notices are delivered by official mail or through secure online accounts, and victims should hang up, verify the caller independently, and report suspicious contact directly to the SSA.
dailyhodl.com
· 2025-12-08
Cybersecurity experts warn that AI-powered "Phantom Hacker" scams targeting seniors are increasing, using a three-step scheme where fraudsters impersonate tech support, financial institution, and government workers to manipulate victims into transferring their life savings to criminal accounts. Scammers use AI to identify and target elderly victims based on their social media activity and web behavior, and victims have only a small window to recover funds if they report the theft immediately to authorities.
losaltosonline.com
· 2025-12-08
Los Altos, where over 20% of the population is age 65+, has experienced significant elder fraud and abuse in recent years, with the police department responding to 12 elder abuse cases resulting in charges, 23 Adult Protective Services reports, and 17 identity theft and check fraud cases involving elderly victims since the beginning of the year. Most elder financial abuse involves strangers using email/text scams impersonating legitimate companies, phishing links, ATM card theft through distraction tactics, and emerging technologies like AI voice cloning and cryptocurrency schemes. Law enforcement emphasizes that seniors should avoid clicking suspicious links, verify caller identities through independent contact, remain cautious of emerging scam technologies