Search
Explore the Archive
Search across 19,276 articles about elder fraud. Filter by fraud type, payment mechanism, or keywords.
7,397 results
in Robocall / Phone Scam
observer-reporter.com
· 2025-12-08
Older adults are frequent targets of financial exploitation through both remote scams and personal relationships. A Fayette County case exemplified the risks of power of attorney arrangements: a woman was charged with over 1,600 felony counts for allegedly stealing more than $690,000 from an elderly dementia patient over several years after being granted power of attorney in 2015. Experts recommend carefully vetting who receives power of attorney, monitoring financial accounts regularly when mentally capable, and remaining vigilant against "romance scams," which cause the largest monetary losses to older adults, typically through internet-based schemes using false personas.
ellsworthamerican.com
· 2025-12-08
The U.S. Attorney's Office for Maine launched the Maine Rx Elder Fraud Program on September 5th, a collaborative initiative with AARP Maine and the Maine Council for Elder Abuse Prevention to educate older adults about scams through pharmacy distribution channels, beginning with informational brochures at 60 Hannaford in-store pharmacies. In 2023, over 101,000 Americans aged 60+ lost $3.4 billion to fraud, including 397 Mainers who reported losses totaling $7.1 million, though actual losses are believed to be significantly higher due to underreporting. The program aims to help seniors recognize common scam tactics
propakistani.pk
· 2025-12-08
This educational article explains how older adults are increasingly vulnerable to online scams due to limited digital literacy, despite the importance of staying connected. Key threats include phishing emails (targeting 42% of victims aged 69+), social media scams (27% of Gen X victims affected), and fake tech support schemes where scammers gain device access. The article emphasizes that building digital confidence and understanding common online risks is essential to empower seniors to protect themselves in an increasingly digital world.
11alive.com
· 2025-12-08
During the 2022 election cycle, scammers targeted voters with millions of dollars in fraudulent political donation solicitations through emails, texts, and robocalls, with Americans receiving a record 15 billion political texts that year. Scammers operating fake PACs (Political Action Committees) exploited emotional issues like cancer research to pressure people into donating quickly without verifying legitimacy, with little to no proceeds actually going to the candidates they claimed to support. To protect themselves, donors should verify PACs through FEC registration records, donate by mail or credit card directly through official campaign websites with "https" security, and avoid clicking links or providing information through unsolicited communications.
kitchener.citynews.ca
· 2025-12-08
A senior in Fergus, Ontario lost $500 in a gift card scam on September 9, 2024, when a caller claimed they had won a lottery prize and instructed them to purchase gift cards, return home, and read the card numbers aloud while remaining on the line. The victim received a follow-up call the next day requesting $2,000 in additional gift cards but hung up and contacted police. Wellington OPP warns seniors to hang up on unsolicited calls requesting personal information or gift card payments and directs fraud victims to contact the Canadian Anti-Fraud Centre at 1-888-495-8501.
heraldstandard.com
· 2025-12-08
Older adults are frequent targets of financial exploitation, both through remote scams and by trusted individuals with power of attorney. In one notable Fayette County case, a woman was charged with over 1,600 felony counts for allegedly stealing more than $690,000 from an elderly dementia patient over several years after being granted power of attorney. Experts recommend careful selection of financial agents, maintaining oversight of accounts, and awareness of common scams like "romance scams," which cause the greatest monetary losses to seniors.
theconversation.com
· 2025-12-08
"Hustle kingdoms" are informal training academies operating in West Africa (particularly Ghana and Nigeria) that teach individuals digital fraud techniques, with graduates carrying out online romance scams, business email compromise, and sextortion targeting victims globally. The U.S. lost approximately $50 billion to online scams in 2023, many linked to West African fraudsters, as these operations have evolved from 1980s-90s "business centres" into a coordinated global threat with hierarchical structures and increasingly sophisticated tactics. The phenomenon reflects a complex socioeconomic dynamic where some perpetrators justify their crimes as retaliation for historical injustices, while law enforcement and researchers emphasize the
bankrate.com
· 2025-12-08
Scammers employ multiple tactics to steal credit card information, particularly capitalizing on economic changes like potential Federal Reserve rate cuts. Common scams include interest rate reduction schemes, student loan forgiveness offers, grandparent emergencies, and fake charity websites—all designed to pressure victims into providing payment information. To protect yourself, contact your lender or issuer directly rather than responding to unsolicited offers, verify website URLs carefully, and be skeptical of guaranteed results and limited-time offers.
13newsnow.com
· 2025-12-08
In 2023, Virginians lost $265 million to scams, with the FBI's Norfolk office receiving approximately 2,700 elder fraud complaints that year alone. Common schemes include investment scams targeting seniors, jury duty scams impersonating law enforcement, romance scams (the top locally reported type with 17,000 national incidents in 2023), and business email compromise attacks. The FBI advises victims and the public to verify suspicious requests, avoid clicking suspicious links, maintain open communication with vulnerable relatives, and report incidents to IC3.gov or local FBI offices.
banking.senate.gov
· 2025-12-08
Senator Sherrod Brown testified before the Senate Banking Committee on the escalating problem of scams and fraud targeting Americans, particularly seniors. In 2023, Americans lost at least $10 billion to reported fraud—an increase of over $1 billion from the previous year—with Ohio alone experiencing $126 million in losses; scammers employ increasingly sophisticated tactics including AI voice mimicry, fake bank calls, and romance schemes to target retirees' savings. Brown emphasized that seniors, who represented more than half of fraud losses in Ohio, often hesitate to report crimes due to shame and self-blame, allowing criminals to continue victimizing others.
miningjournal.net
· 2025-12-08
This article describes three common scams targeting elderly people: grandparent scams (where callers pose as distressed relatives or law enforcement to solicit wire transfers), IRS scams (where fraudsters impersonate tax agents to steal money or personal information), and sweepstakes scams (where victims are promised prizes to encourage purchases or payments). The article emphasizes that geographic location offers no protection against these schemes and advises seniors and their families to recognize warning signs such as urgent requests for wire transfers, threats of arrest, and demands for sensitive personal information.
wamc.org
· 2025-12-08
Educational efforts are underway in the Capital Region to teach seniors about artificial intelligence and online safety, with computer science professor Dr. Andrew Hurd explaining how to identify AI-generated images and protect themselves from scams. Multiple attendees shared personal experiences of fraud, including unauthorized charges to savings accounts and impersonation schemes, highlighting the importance of security measures like multi-factor authentication and family code words to prevent future victimization. The FTC reported Americans lost $10 billion to scams and fraud in 2023.
prnewswire.com
· 2025-12-08
The New York StateWide Senior Action Council identified AI-driven healthcare scams as their Medicare Fraud of the Month for September 2024, highlighting how artificial intelligence enables fraudsters to generate fake medical claims, steal identities, and create deepfake audio/video to commit healthcare fraud. The organization recommends seniors verify caller identity through trusted numbers, limit personal information shared online, and exercise caution with financial data, noting that Medicare fraud costs taxpayers over $60 billion annually. Seniors can report suspected fraud by calling 800-333-4374 or visiting nysenior.org.
siliconvalley.com
· 2025-12-08
California experienced a slight 2 percent decline in elder fraud complaints from 2022 to 2023, dropping from 145 to 142 complaints per 100,000 adults aged 60 and older, according to FBI data analyzed by All About Cookies. However, California remains among the top 10 U.S. states for elder fraud complaints per capita, ranking tied for ninth place with Maryland at 142 complaints per 100,000 seniors, while the nationwide rate of elder fraud reports increased 14 percent in 2023 with associated losses rising 11 percent.
the420.in
· 2025-12-08
Dr. Ruby Thomas, a doctor in Lucknow, fell victim to an elaborate digital arrest scam in which fraudsters impersonated Mumbai Police and CBI officials via WhatsApp and video calls, falsely accusing her of involvement in the Naresh Goyal scam and threatening execution if she didn't cooperate. After holding her in a five-hour digital hostage situation with fake arrest warrants and fabricated evidence, the scammers extracted Rs 90,000 from her before disconnecting. Similar cases targeting other high-profile professionals, including Dr. Satvika Rathore (Rs 50,000 extorted), reveal a growing trend of cyber extortion
sandiegouniontribune.com
· 2025-12-08
California's elder fraud complaints fell 2 percent from 2022 to 2023 (from 145 to 142 complaints per 100,000 adults aged 60+), yet the state remains in the top 10 nationally for elder fraud complaint rates. The FBI reported that nationwide, elder fraud complaints increased 14 percent in 2023 with associated losses rising 11 percent, though complaint rates likely underrepresent actual fraud incidents.
smdailyjournal.com
· 2025-12-08
A California man lost over $300,000 in a cryptocurrency "pig butchering" scam that began in 2022 when a woman posing as a Taiwanese trader named Anna convinced him to invest in a fraudulent platform called BankCEX, using fake trading statements to build trust before demanding an additional $115,000 in taxes and fees. The victim's stolen funds—consisting of USD Coin, Tether, and Ethereum—were traced to major exchanges including Binance, Crypto.com, and OKX, and he has filed suit against these platforms. The case highlights the need for better cryptocurrency investor education and law enforcement expertise as crypto scams continue to prolif
cubaheadlines.com
· 2025-12-08
Cuban actress Camila Arteche shared a near-miss experience on TikTok with a phone scam in which a caller impersonating a Bank of America agent claimed there was a $3,000 fraud attempt on her Amazon account and attempted to get her to withdraw money and deposit it into a specified account. She became suspicious when the scammer grew nervous at the mention of consulting her lawyer, hung up, and confirmed with her bank that it was a scam. The post sparked widespread engagement with viewers sharing similar experiences and reiterating that banks never request sensitive information or money over the phone, and advising others to call their bank directly if they have doubts about incoming calls.
21alivenews.com
· 2025-12-08
An 89-year-old Fort Wayne woman was scammed after someone posing as a federal agent convinced her that her identity was compromised and instructed her to withdraw large sums of money and meet at a hospital parking lot to hand over the cash. The victim's daughter, Carmen Cumberland, discovered the scheme when she noticed unusual withdrawals, and although police located the woman within three hours using her phone's location, the money had already been transferred before they could intervene. Cumberland is now sharing her mother's experience publicly to warn her community about the elaborate tactics scammers use to target vulnerable individuals.
thebee.news
· 2025-12-08
Scammers are impersonating Mohave County Deputies and calling citizens claiming they have outstanding warrants and must pay fines or face arrest. Law enforcement agencies do not conduct business via phone calls regarding warrants or fines, and citizens should hang up immediately and avoid sharing personal information with these callers.
1043wowcountry.com
· 2025-12-08
Law enforcement in North Central Washington is warning residents about three prevalent scams: fake prize claims (where a woman lost thousands after being told she won a truck), grandparent scams claiming a relative needs bail money, and jury duty scams threatening arrest for failure to report unless a fine is paid. Authorities advise victims to hang up immediately, avoid sharing personal information or sending money, and contact their local county court with any questions rather than engaging with callers.
cnbc.com
· 2025-12-08
Americans lost over $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022, with investment scams accounting for $4 billion of those losses, according to an FBI report. Fraudsters typically build trust with victims through dating apps and social media before directing them to fake websites that display false investment growth, then prevent withdrawals or demand fees. The FBI recommends verifying messages independently, scrutinizing websites for misspellings or character substitutions in domain names, and remaining skeptical of promises to earn quick profits with minimal risk.
mynewstouse.com
· 2025-12-08
Hispanic communities are disproportionately targeted by phone scams and election-related misinformation, with Hispanics twice as likely to lose money to phone scams and three times more likely to be victimized by robocall scams compared to non-Hispanics, according to a 2024 Truecaller/Harris Poll report. Scammers use targeted misinformation tailored to specific Hispanic subgroups' political sensitivities, such as immigration policies for Mexican Americans and statehood debates for Puerto Ricans. The article recommends using spam-blocking apps with caller identification features to protect vulnerable voters from fraudulent calls and misleading information, particularly during election cycles.
cnet.com
· 2025-12-08
Text message phishing scams (smishing) affect approximately one in three Americans, with about one-third of those falling victim without immediate awareness; the FBI reported 298,878 phishing complaints in 2023 resulting in nearly $19 million in losses, with scams becoming more sophisticated through AI-generated messages. To protect yourself, verify that you've opted into bank text alerts through your account settings, and never respond to messages requesting personal information, urgent action, suspicious links, or money transfers—instead, contact your bank directly using the number on your card.
hrdive.com
· 2025-12-08
Online job scams are proliferating through fake listings, fraudulent recruiter profiles, and deceptive messages often powered by AI tools, with the FTC reporting $491 million in losses during 2023—a 25% increase from 2022, with a median loss of $2,000 per victim. Red flags include requests for personal information (Social Security numbers), upfront payment for training or equipment, unrealistically high pay offers, suspiciously quick hiring processes, and communication limited to email or chat rather than phone or video calls. Legitimate employers can distinguish themselves by using established job sites, protecting applicant privacy, offering transparent pay information, and conducting in-person or video interviews.
witl.com
· 2025-12-08
Michigan residents are being warned about three Amazon Prime Day scams: fake text messages impersonating Amazon to steal personal information, phishing messages falsely claiming Prime membership cancellation requiring payment, and account suspension scams using fraudulent links to compromise account access. Experts advise verifying any Amazon communications directly through the official app or website and never sharing personal details via unsolicited texts or calls.
chronicleonline.com
· 2025-12-08
Elder fraud caused over $3.4 billion in losses to seniors in 2023, with an average loss of $34,000 per victim, and Florida had the second-highest number of complaints that year. The most common scams include tech support fraud, personal data breaches, romance scams, non-delivery scams, and investment scams (which cause the largest financial losses). To protect against fraud, seniors should never share personal information with unknown callers, verify requests by contacting organizations directly, be skeptical of unsolicited offers, and report suspected fraud to authorities as soon as possible.
siliconvalley.com
· 2025-12-08
California's reported elder fraud complaints decreased slightly by 2 percent from 2022 to 2023 (from 145 to 142 complaints per 100,000 adults aged 60+), but the state remains among the top 10 most affected states in the nation. The FBI data shows significant variation across states, with Arizona leading at 289 complaints per 100,000 elders compared to Mississippi's lowest rate of 64, while nine states experienced increases of 19-36 percent in elder fraud complaints during the same period.
silive.com
· 2025-12-08
A 32-year-old man from Queens was convicted of grand larceny for defrauding a senior woman on Staten Island of $35,000 in August 2023. The scam involved a fake phone call claiming the victim's bank account was compromised, after which a person (the defendant) posed as a bank employee and collected cash from her home. Om Parkash pleaded guilty and is scheduled to be sentenced in October to one to three years in prison with a restitution order to repay the victim.
cuyahogacounty.gov
· 2025-12-08
Director of Consumer Affairs Sheryl Harris testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs about sophisticated scams targeting Ohio residents, particularly older adults who comprise the majority of scam reports in Cuyahoga County. Harris described how scammers use psychological manipulation tactics—creating false urgency through threats of arrest or asset seizure, isolating victims from help, and establishing false authority—to route victims' money to fraudsters. The hearing highlighted the need for stronger regulations and corporate accountability from tech and financial companies to protect consumers from increasingly complex fraud schemes.
cleveland.com
· 2025-12-08
**Scam Losses in Cuyahoga County, Ohio More Than Double; Nationwide Fraud Crisis Escalates**
Reported scam losses in Cuyahoga County jumped from $1.2 million in 2023 to $2.7 million in 2024, with fraudsters using spoofed caller IDs, stolen personal data, and cryptocurrency to steal larger amounts in shorter timeframes. A particularly dangerous trend involves scammers posing as federal agents claiming victims' bank accounts are involved in drug trafficking, convincing them to move savings to crypto "wallets" and in some cases obtaining house sale proceeds—with national fraud losses reaching $
1011now.com
· 2025-12-08
The Nebraska State Patrol warned the public of scammers creating fake social media profiles impersonating state government officials to defraud victims. The fraudsters move conversations to messaging apps and pose false offers of grants, government transactions, or jobs, with at least one victim losing $5,000 in cryptocurrency. NSP advises contacting state agencies directly through nebraska.gov for legitimate services and recommends victims immediately cease communication with scammers and secure their financial accounts.
theregister.com
· 2025-12-08
A Cambodian senator and entrepreneur, Ly Yong Phat, was sanctioned by the US Treasury for operating O Smach Resort as a forced labor camp where trafficked workers were coerced into promoting cryptocurrency and foreign exchange scams that defrauded victims globally. Workers at the resort reported being lured with false job offers, having their documents confiscated, and enduring beatings, electric shocks, ransoms, and threats; two victims reportedly died by suicide. The sanctions prohibit US persons from conducting business with Ly without permission and require reporting of his US-based assets.
nbcphiladelphia.com
· 2025-12-08
Romance scammers stole $1.14 billion from Americans in one year according to the FTC, though experts believe the actual amount is higher due to underreporting by embarrassed victims. A Philadelphia-area widow lost approximately $39,000 to a romance scam orchestrated by a man posing as a surgeon, who built an emotional relationship with her over months before requesting money for various fabricated needs, ultimately disappearing when they were supposed to meet in person. The victim has since recovered and now volunteers with the AARP Fraud Watch Helpline to help prevent others from falling victim to similar schemes.
newsmeter.in
· 2025-12-08
A 39-year-old Hyderabad woman lost Rs 2 lakhs after a fraudster posing as an official called claiming her parcel from Mumbai to Taiwan had been seized and contained illegal items including drugs and cash, then threatened her with legal action by the Narcotics Department to extract her bank details. The victim subsequently filed a cybercrime complaint, and police warned the public to disconnect suspicious calls, avoid sharing financial information, and recognize that legitimate authorities do not demand money transfers via Skype or threaten legal action to resolve alleged issues.
catcountry1073.com
· 2025-12-08
The Cumberland County Sheriff's Department warned residents about a phone scam in which callers impersonate law enforcement officers, use real officers' names and the department's phone number, and request payment to settle alleged warrants, instructing victims to meet them at stores or public locations. The department clarified that they never contact residents by phone about legal matters or payment demands, and urged citizens not to share personal information with callers or meet with them in person. There is no confirmation of victims who fell for the scam.
wsvn.com
· 2025-12-08
Scammers used fake dating profiles impersonating Miami doctor Nataliya Bocharova on social media to defraud men out of millions of dollars through a "pig butchering" scheme, in which victims were lured by romance and promises of investment returns, then directed to fake trading sites where their money disappeared. One victim lost $300,000 before the real doctor's warning video on Instagram alerted him to the scam; the FBI is now investigating, though the schemes are typically run by organized crime groups overseas and most money is not recovered.
cbs8.com
· 2025-12-08
Albert Gietzen, a Vista resident, lost $12,000 in a gift card scam after a fake Microsoft pop-up alert convinced him his computer was compromised and his bank account had been hacked. He withdrew the money, purchased twelve $1,000 Home Depot gift cards, and provided the card numbers to the scammer before being stopped by sheriff's deputies; though Home Depot initially claimed the cards were cancelled, the company later refused a refund, prompting a lawsuit and media attention. After CBS 8 contacted Home Depot, the company agreed to refund Gietzen's $12,000 and settle a portion of his legal fees.
foxsportsradionewjersey.com
· 2025-12-08
A woman working in cybersecurity fell victim to an elaborate phone scam impersonating a Homeland Security officer who claimed she was involved in drug smuggling and threatened her with up to 9 years in prison, though she avoided revealing personal identifying information. The scammer obtained her phone number, home address, thirty-year address history, and banking information, leaving her vulnerable to follow-up fraud attempts; the article also warns that scammers are becoming increasingly sophisticated and commonly target seniors and other vulnerable populations through impersonating government agencies like the IRS and Homeland Security.
larongenow.com
· 2025-12-08
Between January and July 2024, Saskatchewan residents lost over $3.4 million to cryptocurrency fraud across 116 reported cases to the RCMP. One notable case involved a business employee who received a call from a scammer impersonating senior management, attempting to manipulate the victim into cryptocurrency transfers. The RCMP continues to investigate cryptocurrency fraud schemes targeting provincial residents.
wrex.com
· 2025-12-08
The Better Business Bureau is warning families about fake emergency scams where scammers use advanced voice-cloning technology to impersonate relatives and convince victims to wire money. To combat this threat, the BBB recommends families establish a private code word to verify callers' identities and secure their social media accounts to prevent scammers from obtaining voice samples. Victims or potential targets of this scam are encouraged to report incidents to the BBB Scam Tracker.
postbulletin.com
· 2025-12-08
This 2010 opinion article alleges that Republican political leaders used misleading marketing tactics targeting seniors during the healthcare reform debate, spreading false claims about "death panels" and government rationing to discourage support for the Affordable Care Act. The piece argues that Republican messaging exploited seniors' fears about healthcare changes despite the proposed reforms actually including benefits like closing the prescription drug "doughnut hole" and extending Medicare's solvency. While this is political commentary rather than reporting on an actual financial scam, it characterizes the political campaign as a "marketing scam" that used fearmongering to manipulate elderly voters.
goldrushcam.com
· 2025-12-08
At a September 2024 Senate Banking Committee hearing, Senator Elizabeth Warren highlighted the severe impact of romance and cryptocurrency investment scams on older Americans, noting that Massachusetts residents alone lost over $85 million to these schemes in 2023. Testimony revealed that scammers use extended emotional manipulation through dating apps before gradually coercing victims to deposit funds into fake trading accounts that show false profits, ultimately draining their entire savings; crypto scam losses nationally increased tenfold from 2020-2023 to over $110 million, with adults over 60 being three times more likely to lose money in such schemes. Senator Warren advocated for her bipartisan Digital Asset Anti-Money Laundering
coingape.com
· 2025-12-08
The CFTC has partnered with federal agencies including the SEC, FBI, and IRS to combat "pig butchering" cryptocurrency scams, which cost Americans billions annually and exploit victims through fake romantic relationships to lure them into fraudulent crypto investments. These collaborative efforts include developing educational infographics and investor alerts designed to help consumers—including experienced investors—identify and avoid such schemes. The CFTC advises the public to ignore unsolicited messages, report suspicious activity, and provide detailed information to law enforcement to assist investigations.
wsbtv.com
· 2025-12-08
Billions of dollars are lost annually to scams targeting older Americans, with the FBI reporting over $3 billion in losses in 2023 alone, including devastating cases such as romance scams, sextortion schemes, and AI-enabled impersonations that have cost some seniors their entire life savings. The AARP Fraud Watch Network receives more than 100,000 calls yearly from affected seniors, and experts testified before U.S. Congress emphasizing that criminals continue to evolve their tactics with increasing sophistication. Lawmakers are responding with bipartisan legislation and recommendations for education, public outreach, and federal efforts to combat spoofing and robocalls as key strategies to protect vulnerable seniors.
longisland.com
· 2025-12-08
A 51-year-old New Jersey man was arrested on September 13, 2024, for defrauding a 69-year-old woman in New Hyde Park through an elder scam in which he posed as a Walmart employee and convinced her that her social security number had been compromised. The victim withdrew $20,000 and handed it to the suspect in a parking lot on September 9, 2024, believing he would safeguard the funds; the suspect was apprehended when he attempted to solicit additional money from the victim days later. Tejas Kapur was charged with Grand Larceny 3rd Degree and Attempted Grand Larceny 3
cbsnews.com
· 2025-12-08
A retired Brooklyn accountant lost $100,000 in a fake Microsoft tech support scam in which a caller claimed her computer had a virus and said he accidentally deposited a $100,000 refund, convincing her to withdraw and hand the cash to a courier using a code word. The scammers had gained unauthorized access to her bank accounts and transferred her own money from a trust fund to her checking account to make the false deposit appear legitimate. Authorities advise that legitimate tech companies do not call unsolicited, and victims should turn off their devices, avoid calling numbers on pop-ups, and reset passwords if compromised.
boothbayregister.com
· 2025-12-08
AARP warns that peer-to-peer payment apps like Venmo, Zelle, and Cash App are vulnerable to multiple scam tactics, including impersonation scams (fake emergencies), marketplace discounts requiring P2P payment, and spoofed payment reversals where scammers request refunds that leave victims short funds. Unlike credit cards, P2P transactions lack consumer protections and are typically irreversible, making it critical to only use these apps with trusted contacts and to report unexpected payments to the app provider.
nbcbayarea.com
· 2025-12-08
Scammers are impersonating local law enforcement officers through spoofed phone calls with authentic-looking phone numbers, appealing to people's desire to support first responders to solicit charitable donations. Law enforcement agencies across the Bay Area and cybersecurity experts advise people not to answer unfamiliar numbers, provide personal information, or send money in response to such calls.
newindianexpress.com
· 2025-12-08
Kochi residents, including a renowned music composer who nearly lost Rs 3 lakh, have been targeted by cyber fraudsters posing as Central agency officers who use video call "interrogations" and threats of virtual arrest to coerce victims into transferring money to private accounts. The scammers exploit fear and psychological manipulation, successfully defrauding even highly educated and tech-savvy individuals, with one software company owner losing Rs 7 crore in a foreign exchange scam. Police warn that government agencies never request money transfers to private accounts and urge victims to report fraud immediately to the toll-free number 1930 within two hours for potential fund recovery.