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nujournal.com
· 2025-12-08
Six New Ulm financial institutions have formed a collaboration to combat the growing problem of financial fraud and scams in their area, which local law enforcement reports receive daily. The banks plan to share information about detected scams and educate the public through initiatives like a free "Let's Talk About Fraud" seminar scheduled for May 28, designed to help victims understand common schemes and encourage them to report fraud without shame or fear of judgment.
wired.com
· 2025-12-08
Researchers disclosed multiple vulnerabilities in Apple's AirPlay platform that could allow attackers on the same Wi-Fi network to take over third-party devices like speakers and TVs, though patches have been released with uncertain adoption rates among manufacturers. The article also reports that three major British retailers—Co-op, Marks & Spencer, and Harrods—were recently hit by cyberattacks, with ransomware group Scattered Spider allegedly responsible for at least the Marks & Spencer breach that began in February and disrupted online orders and store operations.
aol.com
· 2025-12-08
A Cambodia-based gang with North Korean ties operating under the Huione Group has stolen billions of dollars from Americans through "pig butchering" romance scams and investment fraud since August 2021, according to federal officials. Between August 2021 and January 2025, Huione raked in at least $4 billion in proceeds, with the operation facilitating payments and cryptocurrency exchanges that enabled the scams targeting US retirees and others through dating apps and social media. The US Treasury Department has proposed a federal rule to sever Huione Group's access to the US financial system, with one victim, Beth Hyland, losing $26,000 to a Tinder sc
koco.com
· 2025-12-08
Oklahoma seniors lost approximately $50 million to scams in 2024, more than doubling the $22 million lost in 2023, according to FBI data. The most common scams targeting seniors include tech support, investment, romance, and phishing schemes, often delivered via cellphone. The FBI advises seniors to stop and walk away from any situation involving pressure for financial transactions, and to contact trusted loved ones or institutions through independently verified channels.
aol.com
· 2025-12-08
An 83-year-old Tampa woman lost $4,500 to a phishing scam after clicking a link in a text message impersonating Florida's SunPass toll system, which led to 25 fraudulent charges at stores in Connecticut and Massachusetts. The scam exemplifies a national surge in toll-related phishing fraud, where scammers send mass texts threatening license suspension or credit damage to pressure victims into entering payment information on fake portals. To protect yourself, avoid clicking unsolicited text links, verify messages directly with agencies through official websites, be skeptical of urgent threats, enable bank alerts, and report suspicious messages to 7726 (SPAM).
kiplinger.com
· 2025-12-08
This article is an educational Q&A on tax deductions, not an elder fraud case. The relevant content addresses whether victims of internet fraud can claim tax deductions: depending on circumstances, victims of certain scams (investment and account-compromise scams) may deduct theft losses on Schedule A if they itemize, while victims of romance and kidnapping scams cannot deduct personal losses. The IRS provides guidance through Publication 547 and a legal memorandum analyzing common internet scam scenarios.
signalsaz.com
· 2025-12-08
Fraud affects all age groups but scammers tailor tactics to exploit generation-specific vulnerabilities: Gen Z faces employment and crypto scams via social media, Millennials encounter investment fraud through spoofed communications, Gen X targets investment schemes, and Seniors are most susceptible to romance, investment, and home improvement scams resulting in losses of $10,000 to $100,000 or more. Desert Financial Credit Union advises recognizing red flags such as unsolicited contact, requests for money or wire transfers, urgency, and coaching about what to tell financial institutions, recommending victims pause to research claims and consult trusted contacts before authorizing any transactions.
pulse2.com
· 2025-12-08
Scamnetic, a digital fraud prevention company, secured $13 million in Series A funding led by Roo Capital to expand its AI-powered scam detection and intervention services, bringing total investment to $16 million. The funding will support growth in marketing, sales, and customer support, as well as accelerate product development for services including email/message scanning, identity verification, victim assistance hotlines, and scam education resources. The company aims to address the growing global scam problem as fraudsters increasingly use AI-enhanced tactics to target consumers and businesses.
finance.yahoo.com
· 2025-12-08
An 83-year-old Tampa woman lost $4,500 after clicking a link in a text message impersonating Florida's SunPass toll system, which led her to enter her debit card information on a fake payment portal; scammers then made 25 fraudulent purchases at Staples stores over three days. This case exemplifies a national surge in toll-related phishing scams, with the FTC reporting Americans lost $470 million to text-message scams in 2024—five times the 2020 total—and older adults facing particularly high vulnerability. To protect themselves, consumers should avoid clicking unsolicited links, verify messages directly with official agencies, be w
therecord.media
· 2025-12-08
The U.S. Treasury Department sanctioned Myanmar militia group Karen National Army (KNA) and its leader Saw Chit Thu for profiting from large-scale cyber scam operations, particularly in Shwe Kokko where industrial scamming compounds force trafficked workers to defraud victims through fraudulent investment schemes. The KNA leases land to criminal groups, provides security, and facilitates human trafficking to support these operations, which have caused Americans to lose over $6.5 billion to cryptocurrency investment fraud alone. The sanctions block the militia leader and his family from U.S. business dealings and follow international designations by the UK and EU, as well as broader Treasury actions against money laun
aarp.org
· 2025-12-08
Older Americans (60+) lost nearly $4.9 billion to fraud in 2024—a 43% increase from the previous year—with an average loss of $83,000 per victim, according to the FBI's annual report. Investment scams were the costliest fraud type affecting seniors ($1.8 billion), followed by tech support scams ($982 million) and romance scams ($389 million), with cryptocurrency investment fraud and pig butchering schemes emerging as rapidly growing threats. The significantly higher average loss for older adults compared to the national average of $19,000 demonstrates that while fraud affects all ages, its impact on seniors is often financially catastrophic.
newtondailynews.com
· 2025-12-08
The "Pig Butchering Scam" combines romance fraud with cryptocurrency schemes, where scammers build trust with victims over weeks or months before pitching fake investment opportunities and stealing their money. The FTC reported record losses of $12.5 billion to fraud in 2024 (a 25% increase), with investment scams alone accounting for $4.7 billion in losses and a median loss of $9,196 per victim. Protection involves blocking unsolicited contacts, verifying investment opportunities through research and trusted advisors, and immediately reporting suspected scams to law enforcement and financial institutions.
azcentral.com
· 2025-12-08
Kingsley Sebastian Ibhadore, a Nigerian citizen and lawful U.S. resident from Phoenix, was sentenced to federal prison for laundering approximately $4 million in proceeds from romance scams by structuring financial transactions to evade detection. The case underscores the significant impact of organized online romance fraud schemes operating across Arizona and the nation.
aarp.org
· 2025-12-08
Older Americans reported nearly $4.9 billion stolen through fraud in 2024, a 43 percent increase from the previous year, with victims 60 and older averaging losses of $83,000—significantly higher than the overall fraud average of $19,000 across all ages. Investment scams were the leading category affecting seniors, accounting for over $1.8 billion in losses, followed by tech support scams ($982 million) and romance/confidence scams ($389 million), with cryptocurrency investment fraud emerging as a rapidly growing threat often involving "pig butchering" schemes and fraudulent cryptocurrency ATMs. The actual financial impact likely exceeds reported figures due to underreporting,
wpsdlocal6.com
· 2025-12-08
In 2024, over 859,000 Americans filed complaints with the FBI about internet scams, resulting in $16.6 billion in losses—a 33% increase from the previous year. Investment scams caused the largest losses at $6.5 billion, while seniors aged 60+ were disproportionately targeted, losing $2.5 billion to various schemes including tech support scams ($1 billion among seniors alone), business email compromise ($2.7 billion), call center scams ($1.9 billion), and grandparent scams. The FBI advises vigilance against suspicious links, unsolicited remote access requests, and urgent money transfer requests, recomm
theedgemalaysia.com
· 2025-12-08
Two major fraud incidents in Malaysia highlight the growing threat of AI-enabled scams targeting even sophisticated financial institutions. A Maybank CFO nearly fell victim to a deepfake scheme involving an AI-generated Zoom call impersonating a colleague, which attempted to facilitate an unauthorized US$985,426 transfer, while a subsequent breach of the Malaysian stock trading system resulted in unauthorized trades potentially totaling RM10 million, with at least one investor losing RM500,000 in an earlier, initially overlooked hack.
businessday.ng
· 2025-12-08
Nigerians lost N911.45 billion to Ponzi and related fraud schemes over 23 years, with recent victims falling prey to illegal schemes like Crypto Bridge Exchange that promised 100% returns in 30 days. The Securities and Exchange Commission released a 30-point scam advisory warning of red flags including pressure to act quickly, promises of guaranteed profits with no risk, and requests for payment via gift cards or cryptocurrency, emphasizing that investors should verify company registration and never yield to high-pressure tactics.
keyt.com
· 2025-12-08
Craig Case, a 77-year-old security company owner and television host, was sentenced to 26 years and eight months for embezzling approximately $690,000 from elderly Montecito resident Constance McCormick Fearing between 2018 and 2021. Case was convicted of 63 of 64 charges including 45 counts of money laundering, with accomplice Nancy Coglizer (who held power of attorney) writing over 100 small checks to Case for fraudulent "security services" that avoided financial reporting triggers. Coglizer received a reduced sentence of 10 years probation and 364 days in jail in exchange for her guilty plea
thehackernews.com
· 2025-12-08
Cybersecurity researchers identified two threat actor groups—Reckless Rabbit and Ruthless Rabbit—operating investment scams that use spoofed celebrity endorsements on social media to direct victims to fake cryptocurrency exchanges and investment platforms. The scammers collect personal and financial information through deceptive web forms, validate victims using IP geolocation tools, and route qualified targets through traffic distribution systems to either steal funds directly or connect them with call centers that coach them into depositing money. Both groups primarily target users in Eastern Europe and use domain generation algorithms and cloaking services to evade detection.
lifehacker.com
· 2025-12-08
This article provides consumer awareness about emerging tariff-related scams rather than reporting a specific fraud incident. The main scam types include: fake government emails impersonating U.S. Customs demanding direct tariff payments (identifiable by non-.gov domains and recent registration dates), fraudulent shipping company messages claiming packages are held for tariff fees, and counterfeit factory shopping schemes promoted on social media. Consumers should remember that tariffs are passed through higher prices, not paid directly, and should verify any suspicious communications through official company websites and customer service.
oag.ca.gov
· 2025-12-08
A California caretaker was charged with felony embezzlement and theft from a dependent adult after stealing over $400,000 from a Pechanga Band of Indians citizen between October 2018 and January 2021. The caretaker used the victim's monthly tribal funds for personal expenses including vacations, dining, and mortgage payments. The California Attorney General's Division of Medi-Cal Fraud and Elder Abuse filed charges for embezzlement, theft from a dependent adult, and grand theft exceeding $100,000.
aol.com
· 2025-12-08
According to the FBI's 2024 Internet Crime Report, Americans aged 60+ reported approximately 147,000 cybercrimes totaling $4.885 billion in losses, averaging $83,000 per victim—representing 40% of all cybercrime losses despite being a portion of complainants. Seniors are particularly vulnerable to phishing, tech support scams, investment fraud, and romance scams due to declining digital literacy and social isolation, with investment scams causing the largest financial losses for this age group.
aol.com
· 2025-12-08
According to the FBI's 2024 Internet Crime Report, Americans over 60 lost approximately $4.885 billion to cybercrimes in 2024—about 40% of all reported cybercrime losses—averaging $83,000 per victim, representing a 46% increase in complaints from the prior year. Seniors are particularly vulnerable due to declining digital literacy and financial awareness, with investment scams, tech support scams, and romance scams causing the largest losses, often involving cryptocurrency. The most common cyberattacks targeting this demographic include phishing, spoofing, extortion, sextortion, and personal data breaches, with criminals exploiting loneliness and trust
2news.com
· 2025-12-08
The Better Business Bureau held educational classes during Older Americans Month to teach community members about fraud prevention, with imposter scams and identity theft identified as the most common threats overall, while cryptocurrency investment, romance, and employment scams pose the greatest risk to those 55 and older. The BBB emphasized that technology gives scammers an advantage, particularly against older adults less fluent with digital tools, and offered resources including a Scam Tracker for reporting incidents and a free Scam Survival Toolkit to help victims recover both financially and emotionally from fraud.
justice.gov
· 2025-12-08
Kingsley Sebastian Ibhadore, a 40-year-old Glendale resident, was sentenced to 17 months in prison in May 2025 for serving as a "money mule" in online romance scams, laundering over $500,000 in fraud proceeds through 24 bank accounts under false names while structuring withdrawals to evade federal reporting requirements. Between July 2019 and March 2020, Ibhadore deposited victims' money into accounts opened with fraudulent identities and withdrew it in small amounts to avoid detection, continuing the scheme even after acknowledging the funds came from romance scams. The U.S. Secret Service investigation revealed he conducted transactions
about.fb.com
· 2025-12-08
Investment and payment scams exploit current events and economic anxieties through fraudulent schemes promising quick returns on cryptocurrency, real estate, or other assets, often contacted via email, social media, or calls. Common tactics include fake investment coaching groups, advance payment schemes on resale platforms, and overpayment-refund fraud where scammers reverse legitimate payments after receiving refunds. Protection strategies include verifying investment advisers through FINRA BrokerCheck or SEC tools, recognizing warning signs of suspicious accounts, and using platform safety features like payment warnings and facial recognition verification.
tvmnews.mt
· 2025-12-08
In the first three months of the year, fraudulent investment schemes in Malta surged dramatically, with losses exceeding €40,000 more than the entire amount defrauded in the previous year. Common scams included fake investment schemes (11 cases totaling €200,000), phishing and account credential theft (1,700 customers losing €300,000), romance fraud (5 cases with €68,000 lost in three months), and business email compromise schemes (five businesses swindled of €170,000). Bank of Valletta officials noted that young people and adolescents are particularly vulnerable due to social media exposure, and the bank is launching enhanced educational campaigns and webinars
indianexpress.com
· 2025-12-08
Meta removed over 23,000 Facebook pages and accounts operating scam networks targeting users in India and Brazil, which used deepfakes of celebrities and financial influencers to promote fake investment apps and gambling websites. Victims were redirected to messaging apps or fake Google Play Store pages where scammers posed as investment advisors and collected payments before disappearing or reversing transactions. Meta implemented anti-fraud measures including facial recognition technology for identity verification, advance-payment warnings, and suspicious activity detection, while partnering with Indian government agencies to conduct cybersecurity awareness training.
aikenstandard.com
· 2025-12-08
Financial crime specialists from SRP Federal Credit Union presented information to the Aiken Senior Men's Club about recognizing and reporting online scams targeting seniors. The presentation covered major scam types including investment scams, imposter scams, and romance scams, noting that reported consumer losses from scams totaled $12.54 billion in 2024, and identified red flags such as unsolicited contact, urgent pressure, requests for personal information, and unconventional payment methods.
kvoa.com
· 2025-12-08
Kingsley Sebastian Ibhadore, a 40-year-old Nigerian national in Glendale, Arizona, was sentenced to 17 months in prison for laundering over $500,000 in romance scam proceeds through 24 bank accounts using false identities between July 2019 and March 2020. Acting as a "money mule," Ibhadore structured withdrawals below federal reporting thresholds and continued transferring funds even after confirming their fraudulent origins, with the U.S. Secret Service ultimately identifying him through bank surveillance footage across Arizona.
da.sonomacounty.ca.gov
· 2025-12-08
Elana Cohen-Roth, an 81-year-old retired IRS agent, was sentenced to 12 years in state prison after a jury convicted her of 23 felony counts of financial fraud. Over a seven-year period (2013-2019), Cohen-Roth exploited her professional and personal relationship with an elderly Sonoma County victim to defraud her of approximately $1 million through a Ponzi scheme, promising guaranteed 10% returns on fake real estate investments while using the funds to support her lifestyle and pay earlier investors. The victim, who began with $1 million in investments and her own home, was left financially destit
nwitimes.com
· 2025-12-08
Cryptocurrency investment fraud accounted for nearly $4 billion in losses in 2023 (71% of all crypto-related losses), a 53% increase from 2022, with victims often lured through "pig butchering" scams that build trust via dating apps and social media before directing them to fake investment platforms. Criminals exploit cryptocurrency's decentralized nature, irreversible transactions, and AI-enhanced deception tactics—including voice cloning and fake videos—to operate sophisticated call center operations that mimic legitimate businesses. While people aged 30-49 filed the most complaints, victims over 60 suffered the highest losses at over $1.24 billion.
jamestownsun.com
· 2025-12-08
Following a joint investigation, Western Union agreed to pay $586 million and admitted to aiding wire fraud, with the U.S. Department of Justice using these funds to refund victims of various scams (employment, romance, grandparent, advance fee loan, and timeshare schemes) who transferred money through Western Union between January 1, 2004, and January 19, 2017. Fraud victims have until May 31 to file claims for refunds, though the verification and payment process may take up to a year, and refunds will depend on the amount lost and the total number of valid claims submitted.
yourvalley.net
· 2025-12-08
Kingsley Sebastian Ibhadore, a 40-year-old Glendale man, was sentenced to 17 months in prison on May 5 for his role as a "money mule" in online romance scams, having pleaded guilty to conspiring to commit structuring. Between July 2019 and March 2020, Ibhadore used 24 bank accounts under false identities to deposit and withdraw over $500,000 in romance scam proceeds in amounts below federal reporting thresholds to avoid detection. Surveillance footage captured him conducting transactions using fraudulent identities at multiple Arizona banks, and he continued the illegal activity even after confirming the funds came from romance sc
yourvalley.net
· 2025-12-08
Kingsley Sebastian Ibhadore, a 40-year-old Glendale man, was sentenced to 17 months in prison on May 5 for his role as a "money mule" in online romance scams, pleading guilty to structuring charges. Between July 2019 and March 2020, Ibhadore used 24 bank accounts under multiple aliases to withdraw over $500,000 in small amounts below federal reporting thresholds, deliberately concealing and distributing funds stolen from romance scam victims. Surveillance footage documented him conducting transactions using fraudulent identities at multiple Arizona banks even after confirming the money originated from romance scams.
windsornewstoday.ca
· 2025-12-08
The Ontario Provincial Police warned Essex County residents about a Ponzi-style investment scheme involving a business selling alcohol, after a victim lost $109,000 in January. The scam builds trust by promising above-market returns and encouraging victims to recruit friends and family, while paying early investors with money from new recruits until the scheme collapses. Police advised potential victims to approach investment offers skeptically, fully understand any proposal before investing, verify legitimacy, and report suspected fraud to police or the Canadian Anti-Fraud Centre.
klarna.com
· 2025-12-08
This educational guide from Klarna outlines common fraud and scam types affecting consumers, including phishing, impersonation, fake investment schemes, robocalls, online shopping fraud, job scams, and scams targeting elderly individuals. The article advises protecting personal information by never sharing credentials unsolicited, recognizing red flags such as unexpected urgent requests, untrustworthy websites, and promises that seem too good to be true, and verifying merchant legitimacy through store reviews, return policies, and contact information before making purchases.
cbsnews.com
· 2025-12-08
A retired IRS agent, 81-year-old Elana Cohen-Roth, was sentenced to 12 years in prison for running a Ponzi scheme that defrauded a Sonoma County elderly woman of $1 million in life savings between 2013 and 2019. Cohen-Roth, who had gained the victim's trust while preparing her taxes, promised guaranteed 10% returns on bogus investments and used funds from multiple victims to pay off earlier "investors" while financing her own lavish lifestyle. The victim, age 73 at the time the scheme collapsed in 2020, went from owning a home and having $1 million in investments to financial
cnet.com
· 2025-12-08
CNET advises fraud victims to report scams to the Federal Trade Commission and FBI's Internet Crime Complaint Center, even if no money was lost, as these reports help authorities identify trends, educate the public, and build cases against criminals. The FTC received over 3.4 million complaints last year with only 38% involving monetary losses, and victims can also take steps like freezing credit, contacting their bank, or using identity theft protection services to mitigate damage.
finance.yahoo.com
· 2025-12-08
In 2024, fraud cost Americans $12.5 billion with a median loss of $1,500 per victim, with many incidents involving imposters posing as banks, retailers, or government agencies. Common scams include fraudulent bank charge texts, arrest threat calls demanding payment to avoid police action, fake USPS or Amazon messages requesting payment details, and official-looking property tax bills targeting recent homebuyers. Consumers should verify suspicious communications by contacting official numbers or agencies directly rather than using contact information from the suspicious message itself.
money.rediff.com
· 2025-12-08
The CBI conducted raids at 42 locations across eight Indian states and arrested five people for illegally selling SIM cards used in digital arrest scams and related cybercrimes. The operation, part of Operation Chakra V, targeted telecom point-of-sale agents allegedly colluding with cybercriminals to issue unauthorized SIM cards for various frauds including digital arrest scams, impersonation, investment fraud, and UPI fraud. Authorities seized mobile phones, electronic devices, KYC documents, and other incriminating evidence during the searches.
newsbreak.com
· 2025-12-08
A Midwest woman fell victim to two interconnected online scams that have left her facing 29 years in prison and thousands in fines. She first lost thousands of dollars in a romance scam on Words with Friends, then unknowingly became a "money mule" transferring $300,000 in illegally obtained funds for cybercriminals. The scammers exploited her trust by moving conversations to untraceable messaging platforms, creating artificial urgency, and isolating her from verification opportunities, while she now faces legal consequences while the actual criminals remain at large.
mk.co.kr
· 2025-12-08
Fraud crimes in South Korea have surged dramatically, with "other cyber fraud" types increasing sevenfold from 3.1% to 21.7% of all fraud between 2014 and 2023, while arrest rates for these crimes simultaneously declined to 47.4% in 2023. Emerging scams like "team mission" fraud—which deceives victims into depositing money under the guise of product review jobs—and hybrid scams combining multiple fraud methods are outpacing law enforcement's ability to classify and respond to them. Experts recommend establishing an integrated fraud prevention system with a dedicated "fraud response control tower" involving police, financial authorities, and victim support organizations to detect
express.co.uk
· 2025-12-08
Nationwide Building Society warns that romance scams result in victims rarely recovering their money, with scammers typically disappearing after funds are sent. In 2022, romance fraud cost UK victims £31.3 million, with 29% of online daters reporting being asked for money by someone they haven't met in person, and over half complying with these requests. The institution advises victims to immediately contact their bank with evidence and outlines seven prevention steps, including staying on reputable platforms, avoiding money discussions before meeting in person, conducting background research on potential matches, and consulting trusted friends or family about new relationships.
podcasts.apple.com
· 2025-12-08
This is a podcast description, not a news article about a specific fraud event. However, it describes **The Lost Caribbean Millions**, a podcast series about David Ames' Harlequin investment scheme in which over 8,000 investors lost approximately £400 million between the 1990s-2000s by investing in promised Caribbean luxury resort properties that were never delivered. The funds were misused for pirate ships, failed infrastructure projects, and excessive sales commissions, resulting in one of Britain's largest investment frauds that took a decade for authorities to prosecute.
nkytribune.com
· 2025-12-08
U.S. consumers lost over $12.5 billion to fraud in 2024, a 25% increase from the prior year, with investment scams accounting for $5.7 billion in losses. Adults aged 60+ are particularly vulnerable, having lost $3.4 billion in 2023 alone to scams including tech support, grandparent, and government impersonation schemes. The article recommends consumers verify caller identity by hanging up and calling their bank directly, never share account credentials or one-time access codes, and ignore unsolicited payment requests, as legitimate banks will never ask for such information.
daijiworld.com
· 2025-12-08
A 73-year-old man from Kasargod lost Rs 42.41 lakh after investing in a fraudulent online trading platform on February 29, 2025, with cyber police now investigating the case. The article advises that vigilance is essential to avoid such scams: never share banking details or OTPs, disregard threats of "digital arrest" (which does not exist in Indian law), and report suspected scams to authorities immediately.
justice.gov
· 2025-12-08
Kenneth Richmond, a 64-year-old New Orleans resident, pleaded guilty to conspiracy to commit wire fraud and aggravated identity theft for a 2022 scheme in which he and an accomplice used fake and stolen personal information to fraudulently purchase vehicles from a local dealership, including financing a Dodge Challenger with a victim's stolen identity. The fraud caused approximately $124,031.41 in losses to the dealership, with several financed loans defaulting. Richmond faces up to 20 years in prison plus a mandatory consecutive 2-year sentence, with sentencing scheduled for August 14, 2025.
valpo.life
· 2025-12-08
Americans lose $10 billion annually to scams, with older adults being particularly vulnerable due to lower confidence in recognizing fraudulent schemes and varying levels of tech-savviness. Common scams targeting seniors include tech support fraud, sweetheart scams (which cost people over 60 nearly $367 million in 2023), imposter scams, advance fee scams, investment scams, gift card scams, emergency wire transfers, and phishing attempts. To protect yourself, understand how scams operate—scammers pose as trusted entities and create urgent situations to pressure you into sharing money or personal information—and avoid clicking unknown links, verify requests by calling institutions directly, and be skeptical of
pymnts.com
· 2025-12-08
A PYMNTS Intelligence and Featurespace report examining over 10,000 U.S. consumers reveals that scammers increasingly use personalized, sophisticated tactics targeting specific vulnerabilities across generations rather than employing generic approaches. Generation Z faces higher risks from employment and social media fraud, while older generations are disproportionately targeted by fake eCommerce and sweepstakes scams—with baby boomers and seniors experiencing eCommerce fraud at three times the rate of Gen Z. The report emphasizes that financial institutions must implement dynamic defenses, advanced analytics, and consumer training to combat these evolving threats that exploit psychological manipulation and consumer trust.