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sun-sentinel.com
· 2025-12-11
A former debt settlement company manager in Boca Raton was arrested for stealing nearly $200,000 from over 20 clients, mostly seniors over 65, by changing their banking information and creating fake accounts in their names to redirect refunds to himself. Marius St. Gerard used clients' Social Security numbers to open fraudulent bank accounts and debit cards, even stealing from deceased clients' accounts, before fleeing when confronted by his employer in late 2023. To protect yourself, verify any communications about refunds directly with companies using official contact information, monitor your credit reports and bank accounts regularly, and be cautious about sharing personal information like Social Security numbers with service providers.
timesofindia.indiatimes.com
· 2025-12-11
An Indian-origin man was sentenced to 7.5 years in prison for running elder fraud schemes that stole $2 million from senior citizens. The perpetrator targeted vulnerable elderly individuals and defrauded them of their life savings through various scams. Seniors and their families should be cautious of unsolicited calls or requests for personal information, verify requests through official channels, and consider setting up financial safeguards or involving trusted family members in major financial decisions.
wcax.com
· 2025-12-11
# Article Summary
A 77-year-old Brattleboro volunteer named Elliot Greenblott fights cybercriminals by deliberately exposing himself to scams and tracking their tactics as coordinator for AARP Fraud Watch in Vermont. Scammers are becoming increasingly sophisticated with AI technology, and Greenblott emphasizes that no one is too smart to be victimized, even warning that personal information is widely available regardless of precautions. To protect yourself, Greenblott recommends putting up barriers to impede criminals' use of your information—such as monitoring credit cards closely, verifying website URLs before entering sensitive data, and staying informed about the latest scam tactics through community resources.
vancouversun.com
· 2025-12-11
A British Columbia man named Alexander Quaglia is being extradited to the United States to face fraud charges for operating a fake sweepstakes scheme that defrauded thousands of seniors worldwide of approximately US$13 million between 2011 and 2016. The scheme involved mass mailings offering fraudulent prizes of US$1 million in exchange for payments sent to accounts Quaglia controlled. Seniors and vulnerable people should be cautious of unsolicited sweepstakes offers, especially those requiring upfront payments, and verify any legitimate prize winnings directly with official sources rather than responding to mailed solicitations.
derbyinformer.com
· 2025-12-11
Seniors in the U.S. lost over $2 billion to financial fraud schemes during a recent reporting period, affecting more than one million older adults, according to a federal report that prompted local officials in Sedgwick County to issue a public warning. The scams often use tactics like creating false urgency (claiming a grandchild is in jail), demanding secrecy, and requesting unusual payment methods like cryptocurrency or gift cards to prevent victims from verifying the situation. Residents are urged to stay vigilant, verify unexpected requests by contacting family members or banks directly, and report suspicious activity to authorities.
uk.finance.yahoo.com
· 2025-12-10
Over 800,000 people lost money to financial scams in the past year, prompting the UK's Financial Conduct Authority to launch a free "Firm Checker Tool" that allows consumers to verify whether financial companies are legitimate and properly regulated before investing. Scammers have increasingly targeted people through social media by impersonating well-known companies and offering unauthorized financial products like investments and pensions. The FCA advises anyone considering a financial transaction to use the Firm Checker Tool to confirm a company is authorized and regulated, and to seek independent financial advice when in doubt.
aol.com
· 2025-12-10
Seniors are increasingly targeted by scammers who exploit their savings, home ownership, and relative unfamiliarity with technology to commit fraud. Common scams include unsolicited calls selling unnecessary products like medical-alert devices, lottery/prize schemes requiring upfront fees, and fake mobile health clinics that bill insurance and Medicare using stolen personal information. To protect yourself, be skeptical of unsolicited calls and emails, never pay upfront fees for prizes you've won, verify any medical services through official channels, and report suspicious activity to the FTC.
ianslive.in
· 2025-12-10
An Indian national was sentenced to 90 months in federal prison for leading a fraud scheme that targeted elderly people across five Midwestern states, personally collecting over $2.2 million by impersonating law enforcement and convincing victims to surrender their money and assets under the pretense of "protection." The broader conspiracy involved at least 85 additional victims with intended losses exceeding $6.9 million, and the defendant was ordered to pay more than $2 million in restitution. Elderly residents should be cautious of unsolicited calls or visits from people claiming to be government officials demanding immediate payment or access to personal information, as these are common tactics used in international elder fraud schemes.
investmentnews.com
· 2025-12-10
FINRA's 2026 regulatory report focused on emerging technology risks like AI and cybersecurity while notably omitting discussion of two massive recent investor frauds: GPB Capital Holdings (which defrauded investors of $1.8 billion) and GWG Holdings (which caused $1 billion in losses through fraudulent bond sales). Industry experts criticized FINRA for prioritizing high-level technology concerns over direct investor protection, particularly given that the GPB Capital founder was recently convicted and had his sentence commuted by President Trump, and the GWG chair was newly charged with fraud.
**For investors:** Be cautious with private placements and alternative investments sold through broker-dealers, verify the regulatory background of firms and executives managing your money, and monitor your investments for warning signs of fraud such as consistently promised returns or difficulty accessing account information.
justice.gov
· 2025-12-10
Paxful Holdings, a cryptocurrency trading platform, pleaded guilty to violating federal laws by knowingly facilitating money laundering, fraud, extortion, and other crimes while deliberately avoiding customer identification and anti-money laundering controls. The company agreed to pay a $4 million criminal penalty for moving cryptocurrency for fraudsters, extortionists, and criminals from high-risk jurisdictions like Iran and North Korea. The case demonstrates that financial platforms will face serious legal consequences for ignoring suspicious activity, and users should be cautious about trading on platforms with weak security controls and verification standards.
decrypt.co
· 2025-12-10
# Crypto Fraud Ring Summary
A sophisticated criminal organization called the "Social Engineering Enterprise" has stolen approximately $263 million in Bitcoin from a single victim in Washington, D.C., with hundreds of millions more taken from other Americans, leading to nine guilty pleas so far including a 22-year-old California man. The organized crime ring, which operated since October 2023, used specialized roles such as hackers, fraudsters posing as exchange support staff, money launderers, and even burglars to steal cryptocurrency and hardware wallets from victims. To protect yourself, use strong unique passwords, enable multi-factor authentication on all crypto and financial accounts, be suspicious of unsolicited support requests from exchanges or email providers, and never grant remote access to your devices.
audacy.com
· 2025-12-10
Criminals stole over $2 billion from more than 1 million seniors in a recent reporting period, prompting Sedgwick County officials to warn residents about sophisticated financial scams. Common tactics include creating urgency (like claiming a grandchild is in jail), demanding secrecy, and requesting payment through cryptocurrency, gift cards, or wire transfers. If you suspect fraud, contact local law enforcement or the National Elder Fraud Hotline at 1-833-FRAUD-11 immediately.
▶ VIDEO
ABC 7 News - WJLA
A DC-area jet pilot's identity was stolen and used in romance scams targeting vulnerable women seeking love online for years after 2018. Scammers posed as the real Pat Marsh to build relationships and request money from victims; one victim nearly lost $37,000 before the real Marsh intervened. The FBI estimated these fake online romance schemes have stolen over $1 billion, with scammers continuing to use Marsh's identity across multiple states to defraud unsuspecting victims.
ksn.com
The Sedgwick County District Attorney's Office is warning about a widespread problem of financial scams targeting seniors, noting that scammers stole over $2 billion from approximately 1 million older adults across the U.S. between July 2024 and June 2025. Authorities urge seniors and their families to watch for red flags and report suspected fraud immediately to local law enforcement or the National Elder Fraud Hotline at 833-372-8311, as reporting is the first step to stopping these sophisticated criminal networks.
wsbtv.com
Georgia has launched a new law called the SPEAR Act that allows investment firms to pause transactions they suspect are fraudulent and alert state investigators, helping protect seniors during the holiday season when scams peak. So far this year, 720 seniors have been protected through this tool, including one victim who nearly lost $280,000 to a scammer posing as a federal agent. If you're a senior or helping one manage finances, be cautious of unsolicited requests from "officials," verify requests through official channels before transferring money, and report suspicious activity to your investment firm immediately.
yahoo.com
Georgia's holiday season is seeing a surge in scams targeting seniors, with 720 victims reported so far in 2025 through a new state law called the SPEAR Act that allows investment firms to pause suspicious transactions for up to seven days while authorities investigate. One victim lost $280,000 after being deceived by a scammer posing as a federal agent, illustrating the serious financial harm these schemes can cause. Seniors should be cautious of unsolicited contact from people claiming to be government officials requesting money transfers, and can benefit from knowing that financial institutions now have tools to catch and investigate suspicious activity on their accounts.
wnegradio.com
Georgia's Secretary of State reports that holiday scams remain widespread, with 1,140 cases of senior exploitation reported since the SPEAR Act took effect, including 81 victims in November 2025 alone. Common scams targeting holiday shoppers and donors include gift card fraud, impersonation scams posing as family members requesting money, fake online shopping sites that don't deliver goods, and document fraud. Consumers are urged to stay vigilant by verifying requests for money or gift cards through direct contact, shopping only on secure websites, and reporting suspected fraud to authorities.
fox16.com
Law enforcement in Baxter County, Arkansas arrested three men acting as "money mules" who were sent to collect cash from senior citizens in elaborate scams. The arrests were part of undercover operations involving the FBI, Homeland Security, and a TV production company, where decoys and fake houses were used to catch the criminals—one operation involved a scammer trying to collect $250,000 from an 86-year-old and another targeting a 95-year-old for $60,000. Seniors should be extremely cautious of callers claiming to be FBI or government officials demanding urgent cash payments, overpayment refunds, or threatening legal action, and should always verify requests through official channels before sending money.
devdiscourse.com
Law enforcement arrested four cybercriminals who defrauded a cancer patient of Rs 1.30 lakh by impersonating insurance officials and convincing victims they needed to pay processing charges for refunds. The suspects targeted policyholders expecting insurance settlements, exploiting their financial vulnerability. To protect yourself, verify official communications directly with your insurance company or regulatory bodies using contact information from their official websites, never through numbers provided by callers.
theweek.com
# Pig Butchering Scam Summary
A global fraud scheme called "pig butchering" has cost victims an estimated $75 billion, with criminals sending millions of seemingly innocent text messages and social media messages to establish fake relationships before convincing victims to invest money in fake cryptocurrency schemes or investment funds. The scam disproportionately affects vulnerable people seeking romance or easy financial gains, with some victims losing their entire life savings after months of relationship-building with the scammers. To protect yourself, be suspicious of unsolicited messages from strangers—especially those offering investment opportunities or romantic connections—and never send money to someone you haven't met in person, particularly for crypto or investment schemes.
en.yna.co.kr
Forty-six suspects have gone on trial in South Korea for their involvement in an international online scam ring operating from Cambodia and Thailand that defrauded over 110 victims of approximately $6.4 million through romance scams, impersonation fraud, and cryptocurrency schemes. The defendants, mostly men in their 20s, were repatriated from Cambodia in October as part of a crackdown that arrested 64 suspects total. To protect yourself, remain skeptical of unsolicited romantic advances online, never trust callers claiming to be prosecutors requesting payment, and be wary of unsolicited cryptocurrency investment opportunities.
ksn.com
Scammers stole over $2 billion from approximately 1 million seniors across the United States between July 2024 and June 2025, according to a Department of Justice report that prompted the Sedgwick County District Attorney to warn local residents of this widespread threat. The Sedgwick County DA emphasized that while this is a national problem, sophisticated criminal networks operate locally and urged people to watch for red flags and report suspected fraud immediately. Anyone who suspects they or a loved one has been targeted by elder fraud should contact local law enforcement or call the National Elder Fraud Hotline at 833-372-8311.
aol.com
Two men from Florida and Virginia have been indicted for allegedly running a $26 million elder fraud scheme that targeted seniors across Pennsylvania and the U.S. from January 2024 through August 2025, using deceptive emails to trick victims into sending cash to couriers or Bitcoin ATMs, then laundering the money through fake businesses and bank accounts. The suspects, Amit Kumar Jain and Trevaughn Yearwood, face serious federal charges with potential prison sentences of up to 40 and 20 years respectively. Seniors should be wary of unsolicited emails requesting urgent money transfers, verify requests through official channels before sending funds, and never use cryptocurrency ATMs for financial transactions requested by unknown parties.
pcmag.com
Cryptocurrency scams resulted in $9.3 billion in reported losses in 2024, with $5.8 billion specifically from investment fraud schemes; seniors over 60 suffered approximately $2.8 billion in losses. Scammers increasingly use AI-generated deepfakes of celebrities and trusted contacts to convince victims to invest in fake cryptocurrencies or surrender wallet access. The article advises investors to verify the legitimacy of coins and sources, never share private wallet information, use multi-factor authentication, and carefully examine exchange website URLs before investing.
gulfnews.com
A 49-year-old pharmaceutical business owner in Kochi lost ₹247.6 million ($3 million) between March 2023 and August 2025 in an online trading fraud, where a Telegram contact named Daniel lured him with promises of high returns through a fake trading platform (wwwl.capitalix.com) that displayed inflated profits to encourage larger deposits. The victim discovered the scam only when attempting to withdraw funds and was denied access; police registered an FIR and believe the operation was run by an international syndicate, with investigations ongoing to trace the money trail across multiple bank accounts and coordinate with global agencies.
justice.gov
The Justice Department filed a civil forfeiture complaint against $868,247 in Tether cryptocurrency that was allegedly stolen through investment scams operated by the LME Crypto Group, which impersonated the London Metal Exchange and defrauded at least four victims across DC, Texas, Illinois, and Florida between September 2022 and February 2025. The scheme involved criminals establishing trust through misdirected text messages, then directing victims to fake investment platforms that displayed false profits before locking victims out of their accounts and stealing their funds, with one victim losing $1.3 million and another losing $30,000. The FBI recovered and is forfeiting the laundered cryptocurrency funds that were transferred through
losaltosonline.com
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
justice.gov
Regene Newman, 59, of Evansville, Indiana, was sentenced to 1.5 years in federal prison for wire fraud after stealing over $125,000 from public institutions and nonprofits over seven years while serving in positions of trust as Director of Finance for the Prosecutor's Office and later as Business Director for Community Corrections. She made unauthorized purchases totaling approximately $121,063 across multiple accounts (including at retailers like Sephora, Target, and Macy's) and concealed the theft through fraudulent donation vouchers; she has already paid $101,133.55 in restitution to victims. The funds were intended to support at-risk youth programs an
justice.gov
**Summary:**
Kristina Higgins, 54, the former general manager of a Missouri company, pleaded guilty to eight counts of bank fraud after embezzling $878,711 by issuing company checks to pay her personal credit card bills and forging the company owner's signature. She also falsified information to the bank's positive pay system in December 2022 to ensure the fraudulent checks would be processed. Higgins agreed to repay the full amount and faces sentencing on December 4, with potential penalties of up to 30 years in prison and/or a $1 million fine.
states.aarp.org
Financial fraud has evolved into large-scale criminal operations targeting seniors through romance scams, cryptocurrency schemes, and impersonation fraud. Idaho experienced a significant surge in cybercrime complaints, rising from 1,800 complaints totaling $17.7 million in 2021 to over 3,000 complaints resulting in $63 million in losses in 2024. AARP Idaho is hosting a Senior Fraud and Financial Exploitation Prevention Roadshow across four locations to educate seniors on recognizing red flags and protecting themselves from organized cybercriminals.
foxnews.com
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.
mytotalretail.com
Back-to-school shopping season creates a surge in retail fraud activity, with fraudsters exploiting the high volume, time pressure, and omnichannel complexity of the period through return fraud, refund abuse, fake storefronts, phishing, and account takeovers. Retailers lost an estimated $101 billion to return-related fraud and abuse in 2024, with nearly 75 percent of retail executives citing this as their top operational concern during peak shopping periods. To combat these schemes, merchants are implementing real-time fraud detection across unified commerce channels, monitoring suspicious patterns in customer behavior, and empowering teams to act quickly on suspicious transactions.
wnegradio.com
The BBB warns of an ongoing phishing scam where callers impersonate process servers, claiming victims have unpaid debts, liens on their homes, or are involved in fictitious court cases to pressure them into revealing sensitive personal information like Social Security numbers and dates of birth. Scammers use intimidation tactics, threats of arrest, and claims of imminent home visits to create urgency, sometimes also targeting family members and friends; their goal is identity theft rather than legal service. Consumers should be wary of unsolicited calls with scare tactics and verify claims independently through official channels before providing any personal information.
zamin.uz
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.
mk.co.kr
Binance collaborated with law enforcement and blockchain analysis firm Chainalysis to freeze approximately $47 million in cryptocurrency proceeds from "Pig Butchering" scams—a fraud scheme where perpetrators build trust with victims through fake investment or romance opportunities before stealing their funds. The funds, held in Tether (USDT), were traced through multiple intermediary addresses concentrating money from dozens of victims before dispersal to five wallets, with Tether implementing a rapid asset freeze to prevent criminal organizations from cashing out.
aol.com
Former U.S. Postal Inspector Scott Kelley, 51, of Massachusetts, was indicted on 45 counts for stealing over $330,000 in cash from packages mailed by elderly victims of a Jamaican lottery telemarketing scam between 2019 and 2023. Kelley, who led the Mail Fraud Unit investigating senior citizen scams, used his position to intercept approximately 1,950 flagged packages, launder the proceeds through money orders and multiple bank accounts, and even framed a subordinate for a separate $7,000 evidence locker theft. He faces up to 20 years in prison on each wire fraud and mail frau
tampafp.com
**Scam Type:** Mail interception fraud and money laundering related to Jamaican lottery scheme targeting elderly victims
**What Happened:** Former U.S. Postal Inspector Scott Kelley, 51, was arrested and indicted on 45 counts for allegedly stealing over $330,000 in cash from approximately 1,950 packages sent by elderly victims of a Jamaican telemarketing scam between 2019-2023. Kelley, who led the Mail Fraud Unit tasked with investigating scams targeting seniors, allegedly used his position to intercept victim mail, launder proceeds through money orders and multiple bank deposits, steal $7,000
foxnews.com
Scott Kelley, a 51-year-old former U.S. Postal Inspection Service team leader who oversaw the Mail Fraud Unit, was charged with stealing over $330,000 from packages sent by elderly scam victims (averaging age 75) and laundering the money for personal use including home renovations, vacations, and escort services. Between 2019 and 2023, Kelley allegedly deceived postal employees into intercepting approximately 1,950 packages from victims of a Jamaican lottery scam, opened them without authorization, and stole the cash inside—none of which was recovered by the victims. Kelley faces up to 20 years
cordcuttersnews.com
The Phantom Hacker Scam, enhanced by artificial intelligence, has defrauded seniors across the United States of over $1 billion since 2024 through a three-phase scheme: scammers posing as tech support gain remote computer access, then impersonate bank representatives to convince victims to transfer funds to fake "secure" accounts, and finally pose as government officials to move money into "alias" accounts. AI enables criminals to personalize attacks using social media information, making detection difficult and often resulting in complete loss of victims' retirement savings and life savings. Experts recommend family education, verification of unsolicited contacts, and avoiding remote access software as protective measures.
masslive.com
A former U.S. Postal Inspector in Massachusetts was indicted on 45 counts for stealing over $330,000 in cash from nearly 1,950 packages mailed by elderly victims (average age 75) who had been duped by lottery scams originating in Jamaica. Scott Kelley used his position as Mail Fraud Unit team leader to intercept packages containing $1,400 to $19,100 in cash each, launder the proceeds through home improvements and personal expenses, and falsely blame a subordinate for theft from an evidence locker. He pleaded not guilty and was released on $25,000 bond.
shorenewsnetwork.com
**Summary:**
Scott Kelley, a 51-year-old former team leader at the U.S. Postal Inspection Service in Boston, was indicted on 45 federal counts for intercepting nearly 2,000 packages containing over $330,000 in cash from elderly victims (mostly in their 70s and 80s) of Jamaican lottery scams between 2019 and August 2023. Kelley used his position to redirect flagged parcels to himself, opened them without authorization, and spent the stolen money on luxury items including home improvements, cruises, and escorts, while laundering the funds through money orders and structured bank deposits. He faces charges including mail
nypost.com
Scott Kelley, a 51-year-old former US Postal Inspection Service team leader who oversaw the Mail Fraud Unit from 2015-2023, was indicted on 45 counts for stealing more than $330,000 from packages sent by elderly scam victims (average age 75) and using the funds for personal expenses including home renovations, escorts, and vacations. Kelley allegedly manipulated postal workers into intercepting approximately 1,950 packages flagged as belonging to lottery scam victims, then laundered the stolen cash through money orders and multiple bank deposits while never returning any funds to the victims. He faces up to 20 years in prison on
yahoo.com
Scott Kelley, a 51-year-old former U.S. Postal Inspector in Massachusetts, was indicted on 45 counts for stealing over $330,000 in cash from nearly 1,950 packages mailed by elderly victims between January 2019 and August 2023, with seven identified victims averaging 75 years old who mailed between $1,400 and $19,100 each. Kelley, who previously led the Mail Fraud Unit investigating scams targeting seniors, used postal employees to intercept packages, stole cash from an evidence locker, and laundered the money on personal expenses including pool upgrades, Caribbean cruises, and escort services while filing
newsbreak.com
Federal prosecutors in Southern California charged 28 members of a Chinese organized crime ring with defrauding seniors out of $65 million since at least 2019, with the scheme involving overseas call centers in India and U.S.-based conspirators who posed as government officials and bank representatives to pressure victims into sending money via wire transfer, cash, or gift cards. The operation targeted thousands of Americans, including a 97-year-old San Diego widow who lost her entire life savings, and laundered proceeds through luxury vehicles and high-end rentals until federal agents seized $4.2 million and multiple vehicles including a Porsche and Mercedes-Benz. The breakthrough came partly from YouTube scam
losalamosreporter.com
April Guadalupe Hernandez was indicted by a Bernalillo County grand jury for assuming the identities of licensed nurses and illegally providing hospice care, including mis-transcribing a medication order that nearly resulted in a fatal morphine overdose. Hernandez, a certified nurse assistant, allegedly stole the identities of three nurses from Texas, California, and Kansas to gain employment at three healthcare facilities over 18 months, defrauding them of approximately $40,000. She faces 19 charges including identity theft, nursing without a license, elder abuse, and violations of the Nursing Practice Act, with a potential sentence of up to 27.5 years in prison
ripplesnigeria.com
**Summary:**
Daniel Chima Inweregbu, a 40-year-old Nigerian national, pleaded guilty in August 2025 to operating a romance scam that defrauded multiple American women of over $405,000 between July 2017 and December 2018. Inweregbu and his co-conspirators created fake social media profiles under the alias "Larry Pham" to build romantic relationships with middle-aged female victims, then solicited money under false pretenses and laundered the proceeds through intermediary accounts. He faces up to 20 years in prison and substantial fines upon sentencing in December 2025.
foxnews.com
Phishing scams are increasingly using fake DocuSign emails impersonating major companies like Apple to trick victims into calling fraudulent support numbers. These convincing emails include fabricated receipts, order IDs, and DocuSign links with security codes, but scammers use the provided phone numbers to steal personal information, banking details, or convince victims to download remote access software. Users can protect themselves by verifying sender email addresses, knowing that legitimate companies do not send receipts through DocuSign, and avoiding clicking suspicious links or calling numbers in unsolicited emails.
finance.yahoo.com
A financial expert shares insights on common scams targeting individuals and businesses, with particular focus on the "emergency bank fraud" call scam where fraudsters impersonate bank employees to trick victims into moving funds to fraudulent accounts. One client lost $25,000 after receiving such a call, while another lost $50,000 due to password reuse that allowed scammers access to multiple accounts. The expert recommends protection measures including unique passwords managed through password managers, multifactor authentication on all accounts, and staying informed about current scam tactics to recognize red flags before falling victim.
azfreenews.com
A 2024 analysis by the Common Sense Institute projects that Arizona residents will lose over $4 billion to financial fraud in 2025, with reported losses alone estimated at $558 million plus $3.4 billion in unreported incidents—representing a 384 percent increase in reported fraud losses since 2020. Adults 60 and older are disproportionately affected, accounting for two-thirds of internet-based fraud losses, while the average loss per incident in Arizona ($6,270) is 30 percent higher than the national average. The report warns that fraud creates broader economic damage costing the state approximately 45,000 jobs and reducing GDP by $5.2
azfreenews.com
A 2025 analysis by the Common Sense Institute projects that Arizona will lose over $4 billion to financial fraud, with only about 14 percent of cases being reported; in 2024 alone, Arizonans reported nearly 55,000 fraud cases resulting in $521 million in losses. Adults 60 and older are disproportionately affected, accounting for two-thirds of internet-based fraud losses, with the average loss per incident in Arizona ($6,270) nearly 30 percent higher than the national average. The report estimates that fraud-related losses shrink Arizona's GDP by $5.2 billion annually and cost the state over 45,000