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itweb.co.za
Authorised payment fraud, including romance and investment scams, is increasing globally through sophisticated scam centres that generate billions in revenue annually, according to LexisNexis Risk Solutions' 2023 Cybercrime Report. Romance scams targeting lonely individuals generated £92.8 million in losses in London alone between 2022-2023, with fraudsters using money mule networks to quickly move stolen funds across multiple accounts before detection. These well-organized scam centres, often located in border regions of Southeast Asia and concealed as legitimate businesses, exploit instant payment systems and emerging technologies like generative AI to conduct fraud at scale.
waff.com
The Senior Fraud and Scam Summit in Huntsville, Alabama brought together experts from the Better Business Bureau and local police to educate seniors on protecting themselves from fraud and identity theft, following a 14 percent nationwide increase in elder fraud reports during 2023. Speakers emphasized that victims should immediately report scams to police and local authorities rather than remaining silent, as doing so helps prevent fraudsters from targeting additional seniors. The summit provided resources and practical tips designed to help older adults safeguard their finances and identities.
newjersey.news12.com
Payment app fraud losses have spiked nearly 150% in recent years, with scammers using fake emailed receipts to trick users into calling fraudulent customer service numbers and surrendering financial information and login credentials. The fraud typically involves phishing emails with generic card numbers or suspicious sender addresses, which users can verify by contacting their bank directly. Democratic lawmakers have introduced legislation to protect consumers victimized by these scams on platforms like PayPal, Venmo, and Zelle.
statista.com
In 2024, U.S. individuals aged 60 and older filed numerous complaints about phishing and personal data breaches, with cryptocurrency crimes showing a significant increase compared to 2023. The data reflects a growing cybercrime threat targeting seniors, tracked by the Internet Crime Complaint Center (IC3).
markets.financialcontent.com
Americans lost $10 billion to scams in 2023, an increase of $1 billion from 2022, with elderly people frequently targeted due to their presumed savings. Financial professionals recommend three protective strategies: slow down and verify requests before acting, be selective about who accesses sensitive financial information and documents, and seek assistance from certified financial planners who can monitor accounts and help recover from fraud.
mymcmedia.org
A 23-year-old man was arrested at Chicago O'Hare International Airport in July and extradited to Maryland for his role in a gold bar scam targeting an elderly Montgomery County resident in March. The scheme involved perpetrators falsely claiming the victim was involved in identity theft and a federal drug investigation, then instructing them to convert assets into gold bars worth $779,000, which were to be picked up by couriers posing as FBI agents. Patel has been charged with felony theft of more than $100,000 and a misdemeanor, with a trial scheduled for September 23; a second suspect was also arrested.
wpsdlocal6.com
Smishing—text message scams that trick recipients into clicking malicious links or calling scammer numbers—has become increasingly common as cybercriminals shift from robocalls and emails to take advantage of higher text message open rates. Common tactics include fake package delivery notifications, impersonation of trusted brands like Amazon and FedEx, and social engineering to steal login credentials, financial information, or gain remote device access, potentially leading to identity theft and financial loss. Consumers can protect themselves by ignoring unsolicited texts, enabling two-factor authentication, verifying company contact information independently, and reporting suspicious messages to the FTC by forwarding to 7726 (SPAM).
thehackernews.com
A Singapore-based commodity firm lost $42.3 million in a business email compromise (BEC) scam in July 2024 when fraudsters impersonated a supplier and redirected a payment to a fake bank account in Timor-Leste; using INTERPOL's Global Rapid Intervention of Payments (I-GRIP) mechanism, authorities recovered $39 million and froze the fraudulent account within one day, with seven suspects arrested and an additional $2 million recovered. The article also covers law enforcement's seizure of the Cryptonator cryptocurrency exchange, which facilitated over 4 million transactions worth $1.4 billion and allegedly enabled money laun
helpnetsecurity.com
Bolster research identified 24 nation-state threat actor groups (75% from China, Russia, or Iran) conducting AI-fueled phishing campaigns targeting U.S. citizens ahead of the 2024 presidential election, with phishing site hosting nearly doubling compared to 2023 and averaging over 45,000 malicious sites daily in May. Threat actors are exploiting stolen voter data (including databases with over 100,000 records dating back to 2015) sold on the dark web to create counterfeit identification cards for potential identity theft and voter fraud, while also breaching U.S. military and government email accounts to impersonate legitimate officials and extract sensitive
forbes.com
Impersonation scams, where fraudsters mimic trusted entities through phishing and fake websites, caused over $1.1 billion in U.S. consumer losses in 2023, with new malicious sites created every 11 seconds. AI technology has made these scams more sophisticated and harder to detect quickly, though governments, regulators, and companies are responding with stronger enforcement actions, expanded rules like the FTC's updated Impersonation Rule, and consumer education campaigns emphasizing multi-factor authentication and fraud awareness.
states.aarp.org
The Federal Trade Commission reported over $10 billion in losses to fraud and identity theft last year, prompting AARP to advocate for new consumer protections in Minnesota. New legislation now regulates cryptocurrency ATMs with daily transaction limits of $2,000 for new customers and requires operators to post fraud warnings, along with 14-day refund protections for fraud victims. Additional protections were enacted to combat predatory real estate schemes targeting vulnerable homeowners, making long-term exclusive sales contracts unenforceable and allowing victims to pursue court damages or restitution through the Attorney General's office.
vaildaily.com
Elder fraud scams cause over $3.4 billion in annual losses, with the average senior victim losing $33,915, according to the FBI's 2023 report. Common scams include the "grandparent scam" (where fraudsters pose as grandchildren needing bail money) and IRS impersonation schemes that exploit seniors' trusting nature and politeness. To protect loved ones, maintain open communication, verify emergency requests with other family members, never share personal information over the phone, and report suspected fraud to relevant companies and authorities.
timesgazette.com
The Senior Medicare Patrol (SMP) is a national program that educates Medicare beneficiaries and their families about detecting and reporting healthcare fraud, errors, and abuse, with particular focus on medical identity theft—when fraudsters use personal information like Medicare numbers to bill for unauthorized services. In 2023, the SMP program reached 1.2 million people through outreach events, assisted over 270,000 beneficiaries with fraud complaints, identified 26 emerging fraud schemes, and helped Medicare recover more than $111 million in fraudulent billings. The Ohio SMP, operated by Pro Seniors Inc., encourages beneficiaries to report suspicious activity and offers resources to protect Medicare information.
highlandcountypress.com
The Senior Medicare Patrol (SMP) program empowers Medicare beneficiaries to prevent and report healthcare fraud, particularly medical identity theft where fraudsters use personal information to bill for unauthorized services. In 2023, the nationwide SMP program reached 1.2 million people through outreach events, assisted over 270,000 beneficiaries with fraud-related issues, and helped Medicare recoup more than $111 million in fraudulent billings while identifying 26 emerging fraud schemes.
bankingjournal.aba.com
Fraud cases are surging across financial institutions, with Kennebec Savings Bank in Maine tripling its fraud cases between 2021 and 2023 and preventing over $430,000 in losses in 2023 alone. Scammers increasingly use sophisticated social engineering tactics—including impersonation, phone number spoofing, and AI-generated content—to manipulate victims into voluntarily transferring funds, making it difficult for banks to prevent losses even with strong security measures. The FTC reported a 14% increase in fraud losses in 2023, with imposter scams accounting for nearly $2.7 billion of the over $10 billion in total annual frau
nbcmiami.com
Criminals are increasingly using Google Voice scams to gain access to victims' accounts by tricking them into sharing multi-factor authentication codes, then making calls and texts that appear to come from the victim's number while remaining anonymous. According to the Identity Theft Resource Center, 60% of over 13,000 crimes reported in 2023 involved Google Voice, affecting victims of all ages. The key prevention strategy is to never share multi-factor authentication codes with anyone, and victims can disconnect their number from a compromised account through Google Voice's account recovery tools.
tomsguide.com
Scammers are impersonating bank employees via spoofed caller IDs, tricking victims into cutting up their debit cards while keeping the chip intact, then sending accomplices to collect the chip and coerce the PIN from victims' homes. Once obtained, the scammers use the chip and PIN to withdraw funds directly from victims' accounts in person, bypassing bank fraud detection systems. The FBI warns that to protect yourself, scrutinize the call quality and professionalism of the caller, ask verification questions, and never comply with requests to damage your debit card—legitimate banks never ask customers to do this.
wrat.com
This educational article from the Federal Trade Commission outlines common online scams and fraud schemes affecting consumers. Key scams discussed include spoofing (falsifying caller ID to impersonate legitimate organizations), the 809 scam (international callback schemes with high rates), catfishing (creating fake online identities for romance or exploitation scams), cramming (unauthorized small charges on bills), and family emergency scams (targeting grandparents with urgent requests for money). The article advises consumers to hang up on unsolicited callers, verify numbers independently, never share personal information with unknown callers, and be cautious of suspicious requests—noting that while younger adults report romance scams more frequently, older consumers typically lose
aol.com
As the 2024 presidential election approaches, scammers are using evolving tactics to steal personal information and money through election-themed scams, including robocalls, text messages, social media, and fake donation pages that impersonate political candidates and parties. Scammers leverage voter records and advertiser data to target victims with convincing messages, and increasingly use AI-powered voice cloning and deepfake technology to make fraudulent communications appear authentic. Americans should remain vigilant against these tactics, which manifest across multiple platforms and are designed to sound official and convincing.
cbsnews.com
This article warns students and parents about common back-to-school scams, including fake textbook retailers that either misrepresent products or take payment without delivering, scholarship and student loan scams where criminals impersonate lenders to steal personal and financial information, and tech support scams mimicking school technicians. Security experts note that students, despite being tech-savvy, are vulnerable to these schemes, particularly because they may underestimate the value of their personal information, which can be used for identity theft and credit fraud with long-term consequences.
cnn.com
Consumers lost $210 million to payment app fraud in 2023, with losses on bank transfer services reaching $1.9 billion, as scammers increasingly target platforms like Zelle to impersonate legitimate services. Banks rarely reimburse victims, as existing law does not explicitly require reimbursement for authorized transactions induced by fraud, leaving consumers with little recourse. Congressional Democrats introduced legislation to close this loophole and protect consumers defrauded on peer-to-peer payment platforms, though passage faces industry opposition and uncertain prospects in the Republican-controlled House.
nasdaq.com
As the 2024 presidential election approaches, scammers are increasingly targeting Americans with election-themed donation and identity scams using evolving tactics including robocalls, text messages, social media, voice cloning, and deepfakes. Experts warn that scammers use voter data and advertising information to impersonate political candidates and parties, requesting donations through fake websites and fraudulent communications that sound official and convincing. Americans are advised to remain vigilant and learn to recognize these scams, which aim to steal personal information and money by leveraging election-related topics that are top of mind for voters.
usatoday.com
Scammers are impersonating airline customer service agents on social media to target frustrated travelers dealing with flight cancellations and delays, requesting personal information like booking confirmations, phone numbers, and bank account details or directing passengers to fake websites that steal their identity. The FTC warns that cybercriminals have exploited recent crises like the CrowdStrike outage to insert themselves into customer service interactions, with some airlines abandoning social media channels due to the prevalence of fraudulent accounts. Travelers are advised to verify account authenticity through Google searches and watch for common tricks like substituting numbers for letters in official handles.
cbc.ca
Toronto police arrested 10 people in a year-long investigation into a "SIM swap" fraud scheme that compromised over 1,500 cellular accounts across Canada, resulting in losses exceeding $1 million to victims, telecommunications companies, and financial institutions. The criminals used fraudulent identification and phishing techniques to take over victims' phone numbers, then exploited two-step authentication processes to access banking, email, and social media accounts. Police recommend protecting against SIM swaps by using authentication apps instead of phone-based verification, monitoring for loss of cell service, and limiting personal information shared online.
fisherphillips.com
A Florida-based cybersecurity training company hired a remote software engineer through a standard hiring process, including video interviews and background checks, only to discover the employee was a North Korean cybercriminal using AI deepfake technology to fake his identity and photograph. Within 30 minutes of receiving his company computer, the fake employee attempted to load malware and execute unauthorized programs before being detected and shut down by IT security. The incident demonstrates how AI-enhanced identity fraud is increasingly targeting remote positions at U.S. companies, whether for data theft, espionage, or system disruption, and can affect even cybersecurity professionals.
nbcwashington.com
Scammers in the D.C. area are targeting residents with calls impersonating law enforcement, claiming loved ones face arrest for missing jury duty and demanding payment to avoid arrest. A Silver Spring, Maryland woman lost $5,800 after receiving a fraudulent call claiming to be from the Montgomery County Sheriff's Office; the scammer provided a fake arrest warrant, initially demanded $88,000, and instructed her to pay via bitcoin at a grocery store kiosk. Law enforcement officials emphasize that legitimate authorities never call to collect fines and advise residents to verify any jury duty concerns directly through official court websites.
rlsmedia.com
On July 31st, Detective Kimberly McColligan of the Atlantic County Prosecutor's Office led an elder fraud awareness seminar at the Dr. Martin Luther King Community Center in Newtonville, educating seniors about current financial scams, fraud identification, and reporting resources. The presentation was part of the ACPO's proactive effort to combat the millions of identity theft and fraud incidents reported nationally each year, with seniors comprising a significant portion of victims. The ACPO offers additional fraud awareness presentations and provided contact information for seniors seeking to report fraud or request community presentations.
coloradocommunitymedia.com
On July 30, a Lunch and Learn event in Commerce City educated approximately 60 seniors about financial fraud, featuring Sarah Domke, a senior deputy district attorney specializing in financial crimes, who discussed common scams including phone and computer fraud, romance scams, fake warranty schemes, and threats of legal action. Domke outlined six hallmarks of scams—unsolicited contact, promises of money, requests for personal information, upfront payment demands, wire transfers or gift card payments, and emotional manipulation—and advised attendees on warning signs and protection strategies. The event highlighted that older adults are particularly vulnerable to financial fraud and provided practical awareness to help seniors recognize and avoid becoming victims.
claytodayonline.com
In 2023, banks reported over $27 billion in suspicious elder fraud activity, with FBI reports indicating average losses exceeding $33,000 per case. Scammers increasingly use artificial intelligence and voice-cloning technology to impersonate trusted contacts and exploit elders through tactics that create urgency (tech support, government imposter, grandparent scams) or offer unrealistic rewards (investment, romance, lottery scams). The article recommends pausing when pressured, verifying identities through independent channels, and consulting trusted third parties before making financial decisions.
aol.com
The FBI received more than 147,000 reports of scams and fraud targeting Americans ages 60 and older in 2024, with reported losses exceeding $100,000 more than tripling since 2020. Seniors are targeted because they control over 60% of the nation's wealth, and scammers use sophisticated impersonation, phishing, vishing, and smishing tactics to steal personal and financial information. The article advises awareness of these common scam types and recommends working with financial advisors to identify and protect against fraudulent schemes.
jerseyshoreonline.com
Over 160 Manchester residents attended a fraud awareness forum organized by township officials and local government agencies to address the rising tide of scams targeting seniors. Speakers from Ocean County government and Manchester Police outlined common scam tactics including fabricated urgent scenarios (IRS debts, lottery prizes), pressure for immediate payment via cryptocurrency or gift cards, and unregistered home improvement contractors, while providing guidance on prevention strategies such as verifying contractor licenses, using credit cards over debit cards, and consulting the free Ocean County Consumer Affairs guide for protection against elder fraud and identity theft.
yahoo.com
Healthcare fraud costs tens of billions annually in the U.S., with identity theft occurring every 2.2 seconds. While young adults (18-24) are typically the most targeted demographic, seniors are also vulnerable; victims should watch for red flags in official-looking documents like grammatical errors and should independently verify contact information rather than using numbers provided in suspicious communications. Georgia has reduced identity theft cases through stricter felony laws targeting exploitation of senior citizens, and resources like BBB survival kits are available to help victims resolve fraud.
youarecurrent.com
The Indiana Attorney General's office held an educational seminar at Allisonville Meadows Assisted Living to inform seniors about common fraud schemes, including high-tech theft exploiting data breaches and the grandparent scam where callers impersonate grandchildren in distress to solicit money. The presentation emphasized that people over 60 are frequent targets of fraud and recommended verifying unexpected contacts directly with banks or institutions rather than responding to suspicious emails or calls. The attorney general's office accepts consumer fraud complaints through its website (in.gov/attorneygeneral) and in-person at Government Center South.
dos.ny.gov
The Department of State's Division of Consumer Protection warns that military service members, veterans, and their families are frequent targets of scams, with fraud costing this community $477 million in 2023 and generating 93,735 fraud reports. The top three scam types targeting military members are imposter scams, online shopping scams, and investment-related scams, with young service members managing finances for the first time being particularly vulnerable. The division recommends placing an "Active-Duty Alert" on credit reports, researching purchases carefully, and being skeptical of "military-friendly" deals to protect against identity theft and fraudulent transactions.
nbcboston.com
An 83-year-old Massachusetts woman recovered $34,400 after being scammed into depositing it into a Bitcoin ATM through a fake fraud alert call, approximately one year after the incident. The scam, where perpetrators impersonated bank or federal officials and instructed victims to deposit cash at Bitcoin ATMs, has affected hundreds in Massachusetts with over $2.7 million in losses reported across 100+ FBI complaints, targeting victims of all ages and backgrounds. Police recovery of such funds is difficult but possible if authorities are notified quickly and can seize the machines before the cryptocurrency is transferred out.
the-sun.com
A Colorado woman lost over $19,000 after falling victim to a fake Geek Squad email scam that directed her to call a fraudulent support number. In a related incident, another Colorado resident, Rhiannon Pearson, was targeted by scammers posing as Navy Federal Credit Union and now faces a $12,000 loan fraudulently taken out in her name. Authorities advise verifying unsolicited communications by contacting companies directly through official channels rather than using contact information provided in suspicious emails.
moodyonthemarket.com
Michigan Attorney General Dana Nessel will speak at a town hall in St. Joseph on August 4, 2024, to educate seniors about avoiding scams, following FBI data showing that elder fraud caused over $3.4 billion in losses in 2023, with an average victim loss of $33,915. The event, hosted by Region IV Area Agency on Aging, will address the most common scams targeting people aged 60 and older, including tech support scams (nearly 18,000 reported cases), romance scams, investment scams, and non-delivery scams. The free community event will provide consumer protection tips and scam prevention strategies.
courier-journal.com
Juan Carlos Arcena Cabrera, a New York resident, was sentenced to two years and two months in federal prison for defrauding a Kentucky senior of $59,000 through a "grandparent scam" in which he posed as the victim's grandson claiming an emergency need for money. Cabrera, who pleaded guilty to targeting multiple victims over years, coordinated with others to fabricate scenarios such as car accidents or legal troubles, then repeatedly contacted victims impersonating attorneys and professionals to extract additional funds. The case is part of a national trend of grandparent scams that the U.S. Justice Department has prioritized, with some scammers using voice-cloning technology to increase authent
bestlifeonline.com
The Geek Squad scam is a phishing scheme where fraudsters impersonate Best Buy's legitimate tech support service, sending fake renewal invoices or emails claiming a membership is about to be charged or has already been renewed for a substantial amount. When victims call the provided number to cancel, they reach scammers posing as Geek Squad representatives who attempt to extract personal information, financial details, or computer access. Consumers can protect themselves by verifying communications directly through official Geek Squad channels, being skeptical of unsolicited renewal notices, and never providing sensitive information or remote access to callers they haven't independently verified.
moneyweek.com
Barclays reported a 139% increase in romance scam losses during May and June compared to the previous two months, with men averaging £3,500 in losses and women £8,900 per incident. Romance scammers create fake online profiles on dating apps and social media to build false romantic relationships before requesting money for claimed emergencies. To protect against these scams, people should verify online profiles through reverse image searches, ask probing questions, never send money to online-only contacts, and report suspicious accounts immediately.
gantnews.com
In 2023, banks reported over $27 billion in suspicious elder fraud activity, with FBI reports indicating average losses exceeding $33,000 per case, driven partly by advanced AI technologies like voice cloning that enable realistic impersonation. Common scams targeting elders employ two main strategies: creating urgency (tech support, government imposter, grandparent scams) or offering attractive opportunities (investment, romance, lottery scams). Protective measures include pausing when rushed, verifying identities through independent channels before acting, avoiding nontraditional payment methods, and consulting trusted confidants about unusual requests.
indeonline.com
Jury duty scams remain persistent threats that use spoofed caller ID, personal information verification, and intimidating claims of missed court dates or arrest warrants to pressure victims into paying thousands of dollars via wire transfer, gift cards, or cryptocurrency. Scammers may also use variations involving malware-infected email attachments or identity theft, with one recent victim losing $1,000 before recognizing the fraud. To protect themselves, people should verify court summons through official postal mail only, independently confirm any judicial claims by contacting official court numbers, ignore urgent pressure tactics, avoid untraceable payment methods, and consult trusted contacts before responding to suspicious communications.
yahoo.com
The Better Business Bureau warns that children are increasingly vulnerable to online scams due to their inexperience and trust, with more than half of American children under 11 now owning smartphones. Common scams targeting kids include social media contests requesting personal information, deceptive free ringtone offers with hidden subscription fees, malware-infected video games, and webcam security breaches. The BBB recommends parents educate children about scams, establish internet safety rules, monitor downloads, use security software, and report suspected fraud to the BBB Scam Tracker or FTC.
dailydodge.com
In 2023, the Federal Trade Commission received over 192,000 fraud reports from military consumers (active service members, veterans, retirees, and families), resulting in $477 million in total losses, with nearly one-third of reports involving actual financial loss. The most common scams targeting this population included imposter scams, online shopping fraud, investment schemes ($147 million from under 4,000 reports), identity theft (over 39,000 reports), housing scams, and fake government benefits schemes. Wisconsin officials emphasized that military consumers are disproportionately targeted by scammers and highlighted July as Military Consumer Protection Month to raise awareness.
wilx.com
Smishing scams use text messages to trick people into clicking malicious links or calling scammer numbers, often impersonating delivery services or well-known companies to steal login credentials and personal data. These scams can result in identity theft, financial loss, and malware installation on devices. To protect yourself, avoid clicking unknown links, enable two-factor authentication, contact companies directly using verified numbers, and report suspicious texts to the FTC by forwarding to 7726.
taipeitimes.com
Taichung police issued a warning about a sextortion scam targeting young people on dating and video chat sites, where victims are persuaded to strip naked on camera and then blackmailed for money with threats to distribute the footage. Since the start of the year, police handled 718 cases of online sexual exploitation and blackmail, with male victims comprising over half, predominantly young adults and teenagers; in one case, a high school student was threatened for NT$60,000. Police urge victims to report incidents immediately, preserve evidence, and strengthen privacy settings, emphasizing that some victims have tragically taken their own lives due to pressure from repeated blackmail.
kwch.com
Smishing scams use text messages to trick recipients into clicking malicious links or calling scammer-operated numbers, often impersonating legitimate delivery services or popular companies to steal login credentials and personal information. These scams are cheap and effective for criminals, potentially leading to identity theft, financial loss, and malware installation on victims' devices. To protect yourself, avoid clicking unknown links, enable two-factor authentication, contact companies directly using verified numbers, and report suspicious texts to the FTC by forwarding to 7726.
punchng.com
Nigerian internet fraudster Marcel, a 26-year-old "Yahoo boy" based in Abuja, destroyed evidence by hiding his phone in a toilet pipe when Economic and Financial Crimes Commission (EFCC) officials raided his apartment building in May following a tip-off about suspected cybercriminals in the area. Though officers searched his room and discovered his phone charger, they did not locate the hidden device, and Marcel was not arrested during the raid, though he admitted to using the phone for "bombing and grinding" (finding and defrauding online victims) for over two years.
irontontribune.com
Medicare fraud costs the program an estimated $60 billion annually and can result in identity theft and financial loss for beneficiaries. Common scams include unsolicited contacts requesting personal information, fake websites, pressure to act quickly, and unauthorized billing for services never received. The article recommends protecting yourself by sharing Medicare and Social Security numbers only with trusted individuals, carrying your Medicare card selectively, reviewing statements carefully, and reporting suspected fraud to the Senior Medicare Patrol at 1-800-488-6070 (extension 4 in Ohio).