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gibsondunn.com
· 2025-12-08
On May 12, 2025, the DOJ Criminal Division announced a new White-Collar Enforcement Plan and updated guidance documents that emphasize an "America First" approach prioritizing prosecution of fraud schemes targeting vulnerable populations, government program fraud, and crimes affecting national security and U.S. businesses. The guidance signals a shift toward considering the impact of investigations on legitimate businesses while maintaining focus on dishonest actors, foreign corruption, and trade enforcement violations.
aoshearman.com
· 2025-12-08
This article describes a Department of Justice memorandum on white-collar crime enforcement that prioritizes "Focus, Fairness, and Efficiency" in corporate criminal prosecutions. The memo identifies ten high-impact enforcement areas, including fraud targeting investors and individuals (specifically naming Ponzi schemes, investment scams, and elder fraud), government program fraud, trade fraud, and financial crimes threatening national security. The policy aims to balance aggressive prosecution of serious corporate wrongdoing with avoiding overreach that would burden legitimate businesses and innovation.
lompocrecord.com
· 2025-12-08
Julie Ann Darrah, a 52-year-old former financial advisor from Santa Maria, was sentenced to 10 years in federal prison after pleading guilty to wire fraud for stealing over $2 million from at least nine elderly clients between 2016 and 2023. Darrah exploited her clients' trust by positioning herself as a caretaker figure, then used her position at Vivid Financial Management Inc. to liquidate their assets for personal use, leaving some victims unable to afford end-of-life care. She was ordered to pay $7 million in restitution and is banned from selling securities.
nasdaq.com
· 2025-12-08
This educational article explains why retirees are targeted for financial fraud and describes common scams affecting older adults. Americans over 60 lost more than $3.4 billion to scams in 2023, with victims aged 80+ reporting average losses of $1,450—nearly three times higher than younger victims. The piece identifies key vulnerabilities (accumulated wealth, lower tech familiarity, trusting nature, social isolation) and provides warning signs and protection strategies for imposter scams (posing as IRS, Medicare, Social Security) and tech support scams, emphasizing awareness as the primary defense against financial fraud.
patriotledger.com
· 2025-12-08
Tom Clasby, Quincy's former director of elder services, faces embezzlement charges and has not engaged in plea discussions as of late March 2025. If the case proceeds to trial, both the prosecution and defense estimate proceedings will last approximately one week, with the next status conference scheduled for May 28.
digitaltransactions.net
· 2025-12-08
ThreatMark released ScamFlag, a generative AI service that banks can integrate into their mobile-banking apps to help consumers identify potential scams by analyzing screenshots or photos of suspicious content. The tool uses AI trained on fraud samples to detect phishing emails, romance scams, investment fraud, marketplace scams, and business email compromise with reported 99% accuracy, providing users instant feedback on identified threats and recommended actions. Banks implement ScamFlag through a software development kit with annual licensing fees starting in the lower tens of thousands of dollars.
wisbusiness.com
· 2025-12-08
College students face multiple scams during back-to-school season, including phishing emails impersonating school financial departments that trick students into revealing login credentials and personal information. The Better Business Bureau warns students to be vigilant against common schemes such as fake credit card offers, fraudulent apartment rentals, scholarship scams, ID theft, online shopping fraud, and test preparation blackmail scams that exploit their vulnerability as they prepare for the new academic year.
jdsupra.com
· 2025-12-08
On May 12, 2025, the DOJ's Criminal Division issued a memorandum recalibrating white-collar crime enforcement around three principles: Focus (targeting the most urgent threats), Fairness (prioritizing individual accountability while providing clearer guidance for cooperating companies), and Efficiency (streamlining investigations). The DOJ identified 10 priority enforcement areas, including healthcare fraud, elder fraud, investment fraud, securities fraud, money laundering, and trade violations, signaling a targeted approach to white-collar crimes that harm public finances, investors, and national security.
states.aarp.org
· 2025-12-08
Idaho passed a "report and hold" law effective July 1 that allows financial institutions to temporarily freeze transactions for up to 15 days if they suspect adults 65 and older or those with disabilities are being targeted by scammers seeking fraudulent transfers. Idaho consumers reported losing nearly $54 million to scams in the previous year, and the law enables banks and securities firms to report suspected financial exploitation to state officials while investigating red flags such as sudden withdrawals, unusual contact changes, or nervous customer behavior during transactions. The legislation fills a gap as Idaho becomes one of only 26 states with such protections applying to both the banking and securities industries.
azag.gov
· 2025-12-08
Arizona Attorney General Kris Mayes announced 22 new indictments against individuals and entities involved in a fraudulent sober living home scheme, with charges including money laundering, theft, conspiracy, fraudulent schemes, patient referral fraud, and forgery. The defendants' initial arraignment took place in Maricopa County Superior Court. All defendants are presumed innocent until proven guilty.
sportskeeda.com
· 2025-12-08
A Hulu docuseries examines a coordinated romance scam that targeted three women—Annette, Roxy, and Gaby—who were each deceived by the same fraudster using multiple aliases (Scott Donald Hall, James Richards, and Michael Silver) to solicit money under false pretenses including medical emergencies and business crises. The victims lost significant sums, with at least one woman reporting losses exceeding $30,000, and the case illustrates how scammers increasingly employ AI and deepfake technology alongside emotional manipulation to deceive victims across online dating platforms. The series documents how the women eventually discovered they shared the same deceiver and worked together to expose the fraud.
spectrumnews1.com
· 2025-12-08
"Pig butchering," a financial grooming scam where perpetrators build trust over months before soliciting investments (often in cryptocurrency), has resulted in victims losing thousands to millions of dollars, with investment scam losses increasing from $3.3 billion in 2022 to $4.5 billion in 2023. One Kentucky victim lost $1.7 million in assets after being manipulated into selling her home and liquidating retirement accounts. AARP recommends victims research investments, ignore unsolicited messages, use reverse image searches, and work with certified financial advisers to protect themselves from these schemes.
justice.gov
· 2025-12-08
The U.S. Attorney's Office for the Southern District of Florida hosted an elder fraud prevention forum on May 15, 2025, in partnership with AARP and multiple law enforcement agencies to educate seniors about common scams including investment fraud, lottery fraud, and inheritance schemes. The program featured local law enforcement examples and resources, with information available through the Justice Department's Elder Justice Initiative and multiple reporting channels including the National Elder Fraud Hotline at 1-833-372-8311.
pioneerpublishers.com
· 2025-12-08
In 2023, Americans over age 60 reported billions in losses to four main types of elder fraud: tech support/government impersonation scams, investment fraud ($1.2 billion in reported losses), romance/confidence schemes ($357 million), and cryptocurrency scams ($1.1 billion). The article advises seniors to recognize these scams, consider having a trusted caregiver or companion to screen communications and spot red flags, and to report suspected fraud immediately to the FBI's Internet Crime Complaint Center and their bank.
en.cibercuba.com
· 2025-12-08
A Cuban woman on TikTok exposed a common advance-fee scam where a fraudster posed as an art client offering to pay $1,000 for a portrait, with the victim expected to receive $300 and send back $700 for materials—a scheme designed to use bounced checks to defraud victims. The scammer operates multiple social media profiles and uses variations of this tactic for jobs, study materials, and vehicle sales; multiple other users reported falling victim or nearly falling victim to similar schemes, with losses ranging up to $8,000. The incident highlights the prevalence of social engineering fraud targeting Spanish-speaking communities across multiple platforms and countries.
pintu.co.id
· 2025-12-08
**Summary:**
Retired artist Ed Suman, age 67, lost over $2 million in cryptocurrency assets (17.5 Bitcoin and 225 Ethereum) after falling victim to a phishing scam involving fake text messages and emails impersonating Coinbase security staff. The scammers, who obtained personal data including Suman's wallet type through a data breach at Coinbase caused by a bribed third-party support contractor, tricked him into entering his seed phrase on a fake website designed to mimic Coinbase's interface. The incident was one of multiple attacks following a social engineering-based breach at Coinbase that began in January 2025 and involved attackers attempting
yourharlow.com
· 2025-12-08
Between April 2022 and March 2025, dating scams cost UK victims over £271 million across 21,976 reported cases, with Essex residents accounting for 549 reports and £5.5 million in losses at an average of £10,142 per victim. The scams showed a concerning 17% year-on-year increase in reports, with women and transgender victims suffering disproportionately higher average losses (£16,370 and £27,234 respectively) despite fewer reports than men, and some victims losing as much as £500,000 or more.
chadronradio.com
· 2025-12-08
An 83-year-old Nebraska woman lost over $14,000 in a "smishing" (text message scam), exemplifying a growing crisis where Americans aged 60+ lost $4.9 billion to scams in 2024, averaging $83,000 per case. Social isolation significantly increases seniors' vulnerability to fraud, as those with limited in-person contact are more likely to conduct transactions online and engage with scammers. The Nebraska Department of Banking and Finance recommends preventing financial exploitation through regular contact with older relatives, educating seniors about common fraud tactics, and reporting suspected fraud to authorities through their "Make Cents Make Sense" initiative.
caixinglobal.com
· 2025-12-08
Shanghai and Hangzhou authorities launched criminal investigations into Shanyuhai, a high-end eldercare company, for suspected illegal collection of public deposits after payouts stopped in March 2025. The company marketed membership-based senior living and a leasing platform (Maizi Leasing) promising annual returns up to 12%, with at least one investor depositing over 1 million yuan, but the financial scheme collapsed and top executives were detained in mid-April 2025. The fraud is part of a broader pattern of collapse in China's "wellness living" sector, following similar failures by companies like YanYang Group.
wealthmanagement.com
· 2025-12-08
Julie Anne Darrah, a former Wealth Enhancement financial advisor, was sentenced to over 10 years in prison for stealing approximately $2.25 million from elderly clients between 2016 and 2023, including some receiving end-of-life care. Darrah gained her victims' trust by positioning herself as a caretaker "like a daughter," then obtained power of attorney and trustee access to liquidate their securities and transfer funds to accounts she controlled, spending the money on personal expenses, luxury cars, and restaurants. Some victims were left unable to afford care facility costs, and a federal judge ordered her to pay over $2.4 million in restitution plus interest.
thesun.co.uk
· 2025-12-08
Lisa Nock, a 44-year-old woman with autism from Staffordshire, was scammed out of £11,000 over 18 months by a romance fraudster posing as TV vet Dr Chris Brown on Instagram. The scammer used "love bombing" tactics, claiming to love her and proposing, then requesting money for flights, visas, and cryptocurrency payments, which Lisa transferred while sacrificing her own activities and disability allowance. The scam ended in December 2024 when Lisa could no longer afford to send money and the fraudster ceased contact.
thecut.com
· 2025-12-08
An 82-year-old retired urban planner named Brian Ketcham lost significant money to romance scammers on the dating website Dream Singles, communicating with profiles of women (primarily one named "Vasilisa") who likely did not exist in real life. After his death in 2024, his children discovered hundreds of printed chat transcripts and documented evidence of the scheme, which required him to purchase credits for each message sent to the fake profiles. The article explores how his initial skepticism gradually eroded as the scammers built emotional connections with him, ultimately resulting in financial loss before his death.
jdsupra.com
· 2025-12-08
On May 12, 2025, the DOJ released its white-collar crime enforcement priorities for the current administration, identifying 10 high-impact corporate crime areas for investigation and prosecution. Elder securities fraud is explicitly highlighted as a top priority alongside healthcare fraud, trade fraud, money laundering, and crimes linked to terrorism. Companies operating in these sectors should expect increased federal oversight and compliance requirements, particularly those involved in healthcare, international trade, and financial services.
mondaq.com
· 2025-12-08
On May 12, 2025, the DOJ's Criminal Division announced a new white-collar corporate enforcement plan prioritizing ten "high-impact areas," including elder fraud schemes involving variable interest entities, investment fraud targeting individuals, and Ponzi schemes. The plan offers clearer incentives for companies to self-disclose misconduct and cooperate with investigators, with assurances that proper self-disclosures will result in criminal prosecution declinations. Elder fraud is explicitly listed as a priority area for DOJ investigation and prosecution.
mintz.com
· 2025-12-08
This article discusses shifts in the Trump administration's white-collar enforcement priorities as of 2025, not elder fraud or scams affecting seniors. The DOJ has deprioritized enforcement in several areas including the Foreign Corrupt Practices Act (paused for 180 days), environmental litigation, and certain cryptocurrency regulations, while indicating it will focus on fraud involving cartels and transnational criminal organizations. This content is outside the scope of elder fraud research and is not relevant to the Elderus database.
dfpi.ca.gov
· 2025-12-08
Scammers increasingly target older adults through technology-based fraud schemes, exploiting their perceived financial stability, trusting nature, and potential unfamiliarity with digital threats. Common scams include phishing/smishing/vishing (deceptive emails, texts, and calls), skimming and shimming (card data theft at terminals), tech support scams (fake computer virus alerts), and grandparent scams (impersonation of family members). Protection strategies include ignoring unsolicited contacts, enabling spam filters, inspecting payment terminals for tampering, using contactless payments, and never granting remote computer access to unknown parties.
gbcghanaonline.com
· 2025-12-08
Ghanaian social media influencer Hajia4Reall (Mona Faiz Montrage) was released from a U.S. federal prison on May 22, 2025, after serving a one-year sentence for her role in a West Africa-based romance scam network that defrauded elderly Americans between 2013 and 2019. Montrage pleaded guilty to conspiracy to receive stolen money and was ordered to forfeit and pay restitution of over $2.1 million; she personally controlled accounts that received more than $2 million in fraud proceeds from victims who were deceived into believing they were in romantic relationships with fictitious personas.
nationalseniors.com.au
· 2025-12-08
Cybercriminals are increasingly targeting older Australians with "sextortion" scams, which now account for over 30% of personal scams, where perpetrators threaten to release compromising sexual images or videos unless victims pay ransoms in cryptocurrency. These emotionally manipulative schemes use artificial intelligence and personal information from data breaches to personalize threats and appear credible, with victims including seniors who were traditionally not targeted and who often experience profound shame and fear that prevents them from seeking help. Experts recommend protecting oneself by avoiding sharing intimate photos online, being skeptical of unsolicited emails with demands, verifying whether personal details actually indicate device compromise, and reporting incidents to the Australian Cyber Security
liherald.com
· 2025-12-08
Over 80 seniors attended an educational seminar in West Hempstead to learn scam prevention strategies, as the FBI reported that people aged 60 and older suffered the largest losses in 2024's $16 billion in online scams and cybercrimes. Nassau County Police Officer Eugene Messmer presented the SCAM framework (Stop, Check, Alert, Mention) and detailed common scams including phone/email fraud, IRS imposters, sweepstakes schemes, and identity theft, emphasizing that scammers use professional tactics and recommending verification steps like calling back through official numbers. Key prevention advice includes never clicking suspicious links, refusing to pay via wire transfer or gift cards, protecting personal
wealthmanagement.com
· 2025-12-08
Milendophe Duperier and Vanessa Joseph, a Massachusetts couple, agreed to plead guilty to conspiracy to commit wire fraud for operating a $3.2 million Ponzi scheme from 2018 to 2022, in which Duperier falsely posed as an investment advisor to solicit money from victims, particularly members of the Haitian community. The pair used investor funds for personal purchases (luxury vehicles, mortgage and credit card payments) and to pay earlier investors, supplementing the scheme with over $1.42 million in fraudulently obtained COVID-19 Small Business Administration and Paycheck Protection Program loans. Both defendants face up to 20 years
justice.gov
· 2025-12-08
Jon Patrick Kubler, 52, of California was charged with securities fraud and money laundering for operating a $4 million investment scheme from 2017 to 2023 that defrauded approximately 30 elderly and vulnerable investors. Kubler, who lacked proper licensing, allegedly made false representations about commercial real estate investments, used Ponzi-style payments to create the illusion of profitability, and misused investor funds for personal expenses while also attempting to conceal an SEC investigation. He faces up to 20 years in prison for securities fraud and 10 years for money laundering, and the SEC has already obtained a civil judgment requiring him to disgorge funds and pay penalties
ice.gov
· 2025-12-08
Eight individuals with ties to China were indicted for orchestrating a transnational elder fraud scheme that defrauded approximately 300 victims across at least 37 states and Canada, with confirmed losses exceeding $5 million and an additional $16 million in suspected laundered funds. The scheme involved sending fake pop-up messages to seniors' computers impersonating technology companies and government agencies, then convincing victims to transfer funds via wire, cryptocurrency, or cash to protect their assets from alleged fraud or criminal investigations. Victims were also deceived into purchasing gold bars and handing them over to purported government couriers.
justice.gov
· 2025-12-08
U.S. authorities seized over $868,247 in cryptocurrency from perpetrators of a confidence scheme in which criminals posed as investment advisors through text messages, dating apps, and professional groups to gain victims' trust and direct them to fake investment platforms. The scheme involved criminals encouraging victims to transfer bank funds to cryptocurrency accounts and then to fraudulent platforms that displayed false profits while routing all deposits to perpetrator-controlled wallets, ultimately locking victims out and stealing their funds. The FBI Honolulu Field Office investigated the case with assistance from the Department of Justice and cryptocurrency platform Tether.
digitalinformationworld.com
· 2025-12-08
**Cybercrimes targeting seniors reached record levels in 2024, with 147,000 victims reporting losses of $4.9 billion to the FBI's Internet Crime Complaint Center—a 45% and 43% increase respectively.** Senior citizens are targeted because they have substantial savings, may take longer to detect fraud, and often don't report scams due to embarrassment, making them "low-risk" for criminals. Research shows that 72% of elder fraud cases involved exposed personal information available through data brokers, search engines, and people-finder websites, with accessible data enabling $4.2 billion (86% of total losses), and investment scams proving
yahoo.com
· 2025-12-08
**Summary:**
Tennesseans lost more than $23 million to investment scams in the first quarter of 2025, with cryptocurrency scams showing dramatic growth over the past 12 months, according to the Federal Trade Commission and Better Business Bureau. While older adults remain frequent targets, younger adults are increasingly falling victim to these schemes, which typically promise quick returns on small investments of a couple thousand dollars with an average loss of about $5,000 per victim. The BBB emphasizes reporting these scams to help prevent future victimization and to assist government agencies in combating fraud.
wjla.com
· 2025-12-08
U.S. Attorney Jenine Pirro warned of rising cryptocurrency scams in which fraudsters contact victims via texts, dating apps, or investment groups, then direct them to fake investment platforms mimicking legitimate exchanges. Scammers convince victims to transfer bank funds into these fake accounts, initially showing false profits to encourage larger deposits before locking victims out and stealing all funds; officials recovered $868,247 from one such scheme through the FBI and Computer Crime Section. Victims of cryptocurrency, romance, or investment scams can report to the FBI's Internet Crime Complaint Center.
thereporterethiopia.com
· 2025-12-08
Hundreds of thousands of people, particularly Ethiopians seeking employment, have been trafficked to Myanmar's rebel-controlled territories through fake job offers in IT and hospitality, where they are forced to participate in online fraud schemes (cryptocurrency scams, romance scams, identity theft) under threat of violence and torture. One victim, 27-year-old IT graduate Yosef Atirsaw, was held captive for months posing as a female model to lure victims into pyramid schemes, witnessing brutal abuse including lashings and forced labor. As of December, an estimated 3,000 Ethiopians were reported trapped in these scam centers, though diplomatic efforts have secured the release of
npr.org
· 2025-12-08
This NPR Planet Money episode explores "pig-butchering" romance scams, where scammers use fake text messages and romantic engagement to gradually manipulate victims into cryptocurrency investments before stealing their money. Journalist Zeke Faux deliberately engaged with a scammer named Vicky Ho to investigate connections between these scams and the cryptocurrency Tether, discovering how criminals use the platform to launder money and defraud victims of potentially millions of dollars.
examinerlive.co.uk
· 2025-12-08
Five prevalent WhatsApp scams currently circulating in the UK include: verification code theft (where scammers request shared codes after sending fake messages), the "hi mum and dad" impersonation scam (claiming emergencies to request money), fake giveaways (directing users to malicious websites), fraudulent group schemes (pushing fake investments), and fake job offers (requesting fees or personal information). Protection strategies include never sharing verification codes, establishing family passwords, avoiding suspicious links, remaining skeptical of unsolicited offers, and ignoring messages about high-pay jobs requiring low effort.
timesofindia.indiatimes.com
· 2025-12-08
Fraudsters in India are employing increasingly sophisticated tactics—including AI-powered targeting—to deceive people across all age groups, with scams ranging from fake job offers and digital arrest threats to fraudulent investment schemes and fake KYC updates. Between January and May 2024, approximately 9.5 lakh cybercrime complaints were registered in India, with citizens losing approximately Rs 1,750 crore during this period. The article outlines 10 common scam methods including TRAI impersonation, fake digital arrests, false family member arrest schemes, fraudulent stock trading, customs scams, and fake credit card transactions, emphasizing the importance of verification and caution before sharing
investopedia.com
· 2025-12-08
Americans lost an estimated $47 billion to scams in 2024, with investment fraud accounting for at least $5.7 billion of those losses. Contrary to common assumptions, younger adults are 34% more likely than older adults to fall victim to fraud, which takes multiple forms including impostor scams using AI voice cloning, lottery/prize schemes, and phishing attempts. To protect yourself, watch for red flags such as unsolicited contact, pressure to act quickly, promises of guaranteed returns, unusual payment requests, and demands for login credentials—and always independently verify investment opportunities through official resources like the SEC's EDGAR database before committing funds.
timesofindia.indiatimes.com
· 2025-12-08
This educational article provides practical guidance for seniors to stay safe online by recognizing common scam tactics and implementing protective habits. Key advice includes: pausing before responding to urgent messages and verifying through official channels, questioning callers claiming to be loved ones (especially regarding deepfake technology), carefully checking website URLs rather than relying on security locks, avoiding sensitive transactions on public Wi-Fi, and creating strong passwords using unrelated words or phrases. The article emphasizes that online safety requires awareness and skepticism rather than advanced technical skills.
techbullion.com
· 2025-12-08
Cryptocurrency losses totaling millions of dollars annually occur through investment scams, romance scams, phishing attacks, exchange hacks, and accidental transfers, with blockchain's immutable nature making recovery extremely difficult. Tawny Swift Ltd has positioned itself as a specialized cryptocurrency recovery service in the United States, utilizing advanced blockchain analytics, forensic techniques, and data-driven investigations to trace and potentially recover lost digital assets. The firm's focus exclusively on crypto recovery and commitment to modernizing its tools and strategies distinguishes it in addressing a growing crisis that exceeds conventional law enforcement capabilities.
journalnews.com.ph
· 2025-12-08
Meta platforms Instagram and Facebook are experiencing a surge in scams operated by international fraud rings from China, Sri Lanka, Vietnam, and the Philippines, with an internal Meta analysis revealing that 70% of newly active advertisers promote scams or low-quality products. Common scam tactics include phishing, fake giveaways, investment schemes, romance scams, fraudulent job offers, and sextortion, which exploit urgency and emotional manipulation to deceive users. Despite recognizing the problem, Meta has deprioritized scam enforcement, allowing repeat offenders to accumulate multiple violations before facing consequences.
mb.com.ph
· 2025-12-08
Meta platforms (Instagram and Facebook) are experiencing a surge in scams operated by fraud rings in China, Sri Lanka, Vietnam, and the Philippines, with internal Meta analysis showing 70 percent of newly active advertisers promoting scams or low-quality products. Despite recognizing the problem, Meta has deprioritized scam enforcement, allowing repeat offenders to accumulate violations before facing consequences. Common scam tactics include phishing, fake giveaways, investment/crypto schemes, romance scams, fake job offers, and sextortion, which exploit urgency and emotional manipulation to deceive users.
mondaq.com
· 2025-12-08
This article does not relate to elder fraud, scams, or elder abuse. It discusses the U.S. Department of Justice's 2025 white-collar crime enforcement strategy, focusing on trade violations, tariff evasion, sanctions evasion, and export controls—primarily targeting Chinese imports and activities. This content is outside the scope of the Elderus elder fraud research database.
yahoo.com
· 2025-12-08
Eight individuals with ties to China, including 24-year-old Fangzheng Wang of Massachusetts, were indicted in a transnational elder fraud scheme that victimized approximately 300 people across at least 37 U.S. and Canadian states. The conspiracy used pop-up messages impersonating technology companies and government agencies (FTC, Federal Reserve) to convince seniors their financial accounts were compromised, then persuaded victims to transfer funds via wire, cryptocurrency, or cash to accounts controlled by the scammers, resulting in confirmed losses exceeding $5 million with an additional $16 million in suspected laundered funds identified. All eight defendants have been arrested and remain in federal custody
journee-mondiale.com
· 2025-12-08
Seniors lost $3.4 billion to financial scams in 2023, with projections approaching $5 billion by 2025, as scammers increasingly employ AI-powered tactics including voice cloning and deepfakes to impersonate family members and financial advisors. Criminal schemes now commonly target vulnerable retirees through urgent money transfer requests, fake family emergencies, and cryptocurrency demands that are nearly impossible to recover. Protective measures include establishing trusted family financial guardians, recognizing red flags such as pressure for secrecy and unrealistic investment promises, and maintaining regular communication with seniors to prevent exploitation.
boston25news.com
· 2025-12-08
Eight individuals with ties to China have been indicted for operating a transnational elder fraud scheme that victimized approximately 300 seniors across at least 37 states and Canada, with confirmed losses exceeding $5 million and suspected laundered funds totaling around $16 million. The scammers used fake pop-up messages impersonating technology companies and government agencies to trick elderly victims into transferring funds via wire transfers, cryptocurrency, or cash purchases of gold bars to accounts controlled by the fraudsters. Fangzheng Wang, a 24-year-old Chinese national in Massachusetts, was among the eight defendants arrested and charged with conspiracy to commit wire fraud and related offenses.
thegazette.com
· 2025-12-08
An Iowa AARP Fraud Watch Network educator warns that artificial intelligence has made scams significantly easier and cheaper to execute, with seniors disproportionately targeted due to perceived lower technology skills, social isolation, and accumulated wealth. In 2024, over $12.5 billion was lost to scams and fraudulent activities across the nation, with people aged 70 and older reporting the largest dollar losses per incident. Key prevention strategies include never trusting unsolicited messages, verifying information through independent trusted sources, avoiding opening attachments or links from unknown senders, and recognizing that scams typically follow a three-part pattern designed to manipulate emotions before requesting personal information.