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citizensvoice.com
· 2025-12-08
State Rep. Mike Cabell hosted a free educational seminar on October 7 for seniors to learn about financial fraud schemes and protection strategies, led by Pennsylvania's Office of Attorney General director David Shallcross. The event covered safety tips and current scam tactics, emphasizing that seniors are frequent targets of evolving fraud schemes designed to steal their money.
aol.com
· 2025-12-08
Americans lost $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022, with crypto investment fraud accounting for $3.9 billion of those losses according to the FBI's 2023 report. Adults over 60 were disproportionately affected, reporting over 16,000 complaints totaling $1.6 billion in losses, and were particularly vulnerable to crypto ATM scams, losing $124 million through that method alone. The FBI recommends verifying caller information, scrutinizing website domains, avoiding crypto kiosk payments for purported law enforcement or government demands, and consulting licensed financial advisors before investing.
goldrushcam.com
· 2025-12-08
A car buying scam ring operating across California and involving at least three suspects—Michael Tanase, Constantin Mustata, and Florin Tanase—sabotaged vehicles listed for sale by pouring oil into radiators to simulate engine failure, then made lowball offers to purchase the damaged cars at a fraction of their value. Michael Tanase was arrested in Oklahoma in July 2024 on an outstanding felony warrant for vandalism and theft by false pretense filed by the Placer County District Attorney's Office, while his two co-suspects remain at large; the scam had been reported to multiple law enforcement agencies across California beginning in early 2024.
timesfreepress.com
· 2025-12-08
The Better Business Bureau received 4,000 investment scam reports with losses increasing nearly sixfold, highlighting the prevalence of fraudulent investment schemes promising unrealistic returns. Scammers typically lure victims with promises like tripling investments in short timeframes, which are red flags indicating potential fraud. The BBB advises consumers to be skeptical of investment opportunities offering returns that seem too good to be true.
decripto.org
· 2025-12-08
Zikica Fiser, a 54-year-old man, was convicted of a sentimental scam targeting a 78-year-old dementia sufferer in Trieste, embezzling EUR 74,200 through false pretenses including impersonating a doctor and fabricating personal crises. The Court of Appeal upheld his sentence of two years and six months imprisonment and ordered him to pay EUR 106,000 in compensation, though no restitution has been made to date. The case was uncovered by the victim's niece and highlights the rising trend of romance scams in Italy, which increased 118% from 2020 and caused EUR 4
postandcourier.com
· 2025-12-08
Since 2020, the Better Business Bureau has received over 4,000 reports of investment scams, many involving cryptocurrency or romance fraud tactics where scammers build trust through fake relationships before soliciting investments. Median losses have increased significantly from $1,000 in 2021 to nearly $6,000 in recent years, with some victims losing over $84,000. The article outlines red flags including guaranteed returns promises, unknown cryptocurrencies, pressure to share wallet access, and unsolicited friendship offers, and provides resources for reporting scams to the BBB, FTC, and FBI.
news.yahoo.com
· 2025-12-08
Americans lost $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022, with crypto investment fraud accounting for $3.9 billion of those losses according to the FBI's 2023 report. Seniors over 60 were hit hardest, reporting over $1.6 billion in losses and making up the vast majority of victims using crypto ATMs, losing over $124 million through that method alone. The FBI recommends verifying caller phone numbers, checking for website inconsistencies, and remembering that legitimate agencies will never demand payment via cryptocurrency.
businessinsider.com
· 2025-12-08
Americans lost $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022, with people over 60 suffering the most damage at $1.6 billion in losses across more than 16,000 reports. Investment fraud scams accounted for the majority of losses at $3.9 billion, and seniors were particularly vulnerable to crypto ATM scams, losing over $124 million through that method alone. The FBI recommends verifying caller phone numbers, scrutinizing website domains and emails, remembering that no legitimate government agency demands crypto payments, and seeking licensed financial advice before investing.
independent.co.uk
· 2025-12-08
Romance cryptocurrency scams are rising significantly, with the FBI reporting over 70,000 complaints and $5.6 billion in losses in 2023, often targeting educated and affluent victims. A 68-year-old woman was defrauded of $58,000 after meeting a man posing as a wealthy businessman on an elite dating app who gradually manipulated her into sending funds for fake business emergencies, later revealing the money was funneled into cryptocurrency investments. Investment fraud is the most common type of cryptocurrency scam, accounting for 71 percent of complaints and $3.96 billion in losses in 2023.
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.
keysnews.com
· 2025-12-08
A California financial advisor, Paul Horton Smith, was convicted in January for operating a $24 million Ponzi scheme called "Northstar" from 2000 to 2020, defrauding hundreds of elderly victims who believed they were investing in annuities or real estate. The case exemplifies a broader trend of rising elder fraud nationally, with FBI data showing a 14% increase in reported elder fraud cases in 2023 and losses exceeding $3 billion annually, exploited through scams ranging from fake prizes and romance schemes to AI-generated voice impersonations. Financial experts recommend victims verify advisor credentials through free tools like BrokerCheck and the IAPD
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.
publishedreporter.com
· 2025-12-08
Cristine Petitfrere, 30, of Miramar, Florida, pleaded guilty to money laundering approximately $2.7 million obtained from elderly victims of romance scams, earning hundreds of thousands in fees by routing victim funds to foreign co-conspirators. Romance scams, which involve fraudsters creating fake online personas to manipulate victims into sending money, cost Americans $1.14 billion in 2023 according to the Federal Trade Commission. Petitfrere faces up to ten years in prison at her December 11 sentencing in the Southern District of Florida.
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
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.
cw34.com
· 2025-12-08
Christine Petitfrere, a 30-year-old Miramar woman, was convicted of laundering over $2.7 million in stolen money from romance scams orchestrated by overseas conspirators, keeping hundreds of thousands of dollars for herself. Romance scams typically involve criminals creating fake online accounts to build trust with victims—often elderly—before stealing their money, with victims losing approximately $1.14 million in a single year. Petitfrere faces up to 10 years in prison at her December sentencing.
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.
thesun.ng
· 2025-12-08
Cristine Petitfrere, a 30-year-old from Miramar, Florida, pleaded guilty to money laundering conspiracy after funneling over $2.7 million from romance scam victims to an overseas co-conspirator, keeping hundreds of thousands in fees for herself. Romance scams—where fraudsters create fake online personas to exploit victims financially and emotionally—cost Americans $1.14 billion in 2023, often targeting elderly individuals. Petitfrere faces up to 10 years in prison at her December 11 sentencing.
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 $
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.
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.
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.
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
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.
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.
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.
abc11.com
· 2025-12-08
More than $500,000 was stolen from North Carolina's Food and Nutrition Services program in late August and early September 2024 through phishing scams and credit card fraud targeting EBT cards, with over $2.7 million reported stolen through similar schemes since October 2022. The theft particularly impacts vulnerable families with children and seniors who depend on these benefits for grocery purchases. Authorities recommend FNS participants check balances frequently, use strong PINs, monitor accounts for suspicious activity, and contact their local county social services to request replacement benefits if compromised.
miamivalleytoday.com
· 2025-12-08
Since 2020, investment scams reported to the BBB Scam Tracker exceeded 4,000 reports, with 2023 marking a three-year high, as scammers increasingly blended romance and cryptocurrency schemes to defraud victims of large sums. Median losses surged from $1,000 in 2021 to nearly $6,000 in 2023, with scams often lasting months before detection and primarily originating from organized crime operations in Southeast Asia. The BBB advises victims to watch for red flags including unregistered investments, guaranteed returns, pressure tactics, unknown cryptocurrencies, and unsolicited friendship offers from strangers.
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.
justice.gov
· 2025-12-08
Five men were indicted in federal court in Brooklyn for defrauding approximately $60 million from investors in Max Infinity Management LLC and related funds through false claims about fees, track record, and SEC registration, while diverting roughly $27 million for personal use including luxury purchases. The defendants—John Cangialosi, Peter Girgis, Gene Sarabella, Enrico Carini, and Caner Otar—charged undisclosed markups exceeding 95% on pre-IPO stock investments and lied about having no upfront fees and prior successful returns. The scheme involved misrepresentations about the fund's operations, fabricate
newsweek.com
· 2025-12-08
Cristine Petitfrere, 30, of Miramar, Florida, pleaded guilty to laundering $2.7 million obtained through romance scams, in which she and co-conspirators created fake online personas to defraud vulnerable victims, many elderly, and transferred funds through bank accounts to associates abroad while retaining hundreds of thousands for herself. She faces up to 10 years in prison at her December 11 sentencing. Romance scams cost Americans $1.14 billion last year, with victims often deceived by fabricated stories and fake professional identities designed to extract money through wire transfers, cryptocurrency, or gift cards.
therecord.media
· 2025-12-08
The U.S. Treasury Department sanctioned Cambodian billionaire Ly Yong Phat and his businesses for alleged human trafficking and forced labor at online scam centers that defraud unsuspecting individuals, including Americans, through romance scams and cryptocurrency schemes. Hundreds of victims from multiple countries were rescued from compounds including the O-Smach Resort, where workers were forced to labor up to 15 hours daily under threats of violence, beatings, and sexual trafficking. The sanctions target the infrastructure supporting these scam operations while highlighting widespread corruption and official complicity in Cambodia that has enabled traffickers to operate with impunity.
cbsnews.com
· 2025-12-08
In 2023, cryptocurrency scams cost Marylanders nearly $94 million, with the state ranking 13th worst hit nationally among approximately 58,000 U.S. complaints, according to an FBI report. These scams frequently use emotional manipulation and romance tactics to lure victims into fraudulent investment schemes, with perpetrators collecting personal and financial data to facilitate theft. Experts recommend verifying online contacts, protecting cryptocurrency wallets, and remaining cautious of quick-return investment pitches, particularly when emotionally vulnerable.
whatjobs.com
· 2025-12-08
Cristine Petitfrere, 30, of Florida admitted to conspiring to launder over $2.7 million from romance scam victims by receiving funds in bank accounts, keeping a portion as fees, and forwarding the remainder to overseas co-conspirators. Romance scams involve fraudsters creating fake online personas to exploit victims financially, with Americans losing $1.14 billion to such schemes in 2023, many targeting elderly individuals. Petitfrere faces up to 10 years in prison at her December 11 sentencing in the Southern District of Florida.
sbj.net
· 2025-12-08
Americans lost $5.6 billion to cryptocurrency fraud scams in 2023, representing a 45% increase from 2022, with investment fraud accounting for nearly $4 billion of those losses, according to FBI data. The sharp rise in losses highlights the growing prevalence of cryptocurrency-related schemes targeting investors.
nasdaq.com
· 2025-12-08
Cristine Petitfrere from Florida pleaded guilty to operating romance scams that defrauded victims of millions of dollars; she laundered over $2.7 million and earned hundreds of thousands in fees with a co-conspirator, facing up to ten years in prison at sentencing. The case highlights the widespread impact of romance scams, which caused Americans $1.14 billion in losses in 2023, often targeting elderly individuals with both severe financial and emotional harm. Additionally, a Nevada man was convicted of fraudulently obtaining $11.2 million in COVID-19 relief funds through fake Paycheck Protection Program loan applications.
fox56.com
· 2025-12-08
Representative Mike Cabell is hosting a free educational seminar in Dallas, Pennsylvania on October 7 to help seniors recognize and protect themselves from financial fraud schemes. The event, led by David Shallcross from the Pennsylvania Office of Attorney General, will cover safety tips and current holiday scams targeting older residents. Reservations are required by September 30 by calling 570-675-6000.
foxbusiness.com
· 2025-12-08
Real estate scams are increasing in prevalence, including home-flipping investment schemes, fraudulent mortgage relief operations, fake property listings, and foreclosure bailout schemes that target both homebuyers and renters. The FTC has issued over $20 million in refunds to victims in 2024, including $222,000 to those harmed by the deceptive Lanier Law mortgage relief operation. Experts advise consumers to verify wiring instructions directly with title companies, be cautious of unsolicited communications from debt counselors, and avoid dealing with unfamiliar parties claiming to help with financial hardships.
nbcnews.com
· 2025-12-08
In 2023, U.S. victims reported $5.6 billion in losses to cryptocurrency scams, with people aged 60 and older filing over 16,000 complaints accounting for $1.6 billion of those losses. The majority of losses ($4 billion, a 53% increase from 2022) came from "pig butchering" investment scams, where fraudsters build fake romantic or friendship relationships with victims before convincing them to invest in bogus cryptocurrency platforms, often using crypto ATMs. Older adults are disproportionately targeted because they typically hold more wealth and are less familiar with cryptocurrency technology, according to the FBI and AARP.
chicago.suntimes.com
· 2025-12-08
Shalender Singh lost nearly $20,000 in an investment scam after a stranger contacted him on WhatsApp claiming to represent a legitimate investment firm and promising 30% returns through cryptocurrency. The scammer built trust over months by providing accurate market advice initially, added Singh to investor chat groups, and showed fake growth on a fraudulent app, but blocked him when he attempted to withdraw funds. According to the Better Business Bureau, investment scams are surging—particularly cryptocurrency and romance-based schemes—with reported losses reaching a median of $4,000 in 2023 and nearly $6,000 by mid-2024, with 80% of victims losing money and scammers
eastcentralreporter.com
· 2025-12-08
A Better Business Bureau study reports that investment scams are rising, with cryptocurrency and romance scams becoming increasingly sophisticated and harder to detect. Scammers use professional-looking websites and fake dating profiles to build trust before convincing victims to invest in fraudulent schemes promising high returns with minimal risk. The BBB advises consumers to verify investment opportunities through trusted sources before responding to unsolicited offers.
infosecurity-magazine.com
· 2025-12-08
Approximately 3,000 international victims of fraud facilitated by Western Union will receive a second distribution of $18.5 million in reimbursements, bringing the total compensation to over $420 million for more than 175,000 victims since the fund's establishment. The frauds, stemming from a 2017 deferred prosecution agreement, involved grandparent scams, lottery/sweepstakes scams, and romance scams, with Western Union having agreed to forfeit $586 million total after acknowledging it aided and abetted these schemes through complicit employees who failed to prevent fraudster activity. The Justice Department anticipates additional distributions in the coming months as it works
news.slashdot.org
· 2025-12-08
Americans lost $5.6 billion to cryptocurrency fraud schemes in 2023, with the FBI receiving nearly 70,000 complaints involving bitcoin, ether, and other digital currencies. Investment fraud was the most prevalent scheme, accounting for $3.96 billion of the total losses, and the decentralized nature of cryptocurrency combined with irreversible transactions makes recovery of stolen funds extremely challenging.
vice.com
· 2025-12-08
Americans lost more than $5.6 billion to cryptocurrency scams in 2023, representing 45 percent increase from 2022 and nearly half of all financial fraud losses that year, according to an FBI report. Investment scams accounted for nearly 71 percent of crypto losses ($4 billion), with fraudsters also using call centers, government impersonation, and dating sites to target victims; notably, people over 60 filed nearly 17,000 complaints and lost $1.6 billion, making them the most victimized age group despite crypto's popularity with younger generations. The FBI attributes crypto scams' prevalence to the technology's decentralized nature, irrevers
finance.yahoo.com
· 2025-12-08
Despite increasing sophistication in online fraud, phone scams remain the most common type of financial scam, affecting nearly 49% of scam victims across all age groups according to a GOBankingRates survey of over 1,100 U.S. adults. Common phone scam tactics include business/investment schemes, impersonation of trusted entities, debt relief offers, charity fraud, and prize scams, all designed to extract money or personal information from victims. The article advises consumers to verify callers' identities, use official channels for donations and payments, and be suspicious of unsolicited offers promising quick profits or threatening legal action.
indianexpress.com
· 2025-12-08
On August 21, 2024, 29-year-old Deepankar Barman, director of DB Stock Broking in Guwahati, fled after locking his office, leaving approximately 30 investors who had invested thousands to lakhs of rupees with no recourse; investors had been promised returns as high as 7% monthly and 100% yearly but stopped receiving payments in late July. His disappearance exposed a broader trading fraud scheme across Assam, prompting authorities to arrest 59 individuals across 28 cases and constitute 14 special investigation teams, including similar operators like 22-year-old Bishal Phukan who promised
abc7news.com
· 2025-12-08
Americans lost $5.6 billion to cryptocurrency scams in 2023, with people over 60 accounting for nearly $1.6 billion of those losses, according to an FBI report. Scammers build trust with victims through social media and text messaging before pitching fraudulent investment opportunities and directing them to fake web apps and cryptocurrency kiosks to deposit funds. The FBI is working with law enforcement and banks to identify warning signs, though recovery chances remain slim and many victims remain unaware they have been defrauded.
bankinfosecurity.com
· 2025-12-08
In 2023, cryptocurrency scams surged dramatically in the United States, with victims reporting $5.6 billion in losses—a 45% increase from 2022—across more than 69,000 complaints to the FBI's Internet Crime Complaint Center. While seniors over 60 were most frequently targeted, people aged 30-39 also experienced significant losses, with investment scams involving bitcoin and other virtual currencies accounting for nearly 71% of total losses; fraudsters typically built rapport with victims through social media and email before moving conversations to encrypted platforms. Cryptocurrency kiosks were increasingly exploited in fraud schemes, with over 5,500 complaints involving $189 million in losses
coindesk.com
· 2025-12-08
Investors lost a record $5.6 billion to crypto scams in 2023, a 45% increase from 2022, with investment fraud schemes accounting for $4 billion of losses, according to FBI data. While crypto complaints represented only 10% of total fraud reports, they comprised nearly half of all financial losses; victims over age 60 reported the highest losses at $1.24 billion. The FBI warned that many scammers operating these "pig butchering" schemes are human trafficking victims forced to conduct fraud operations from compounds in Southeast Asia.
decripto.org
· 2025-12-08
Thailand reported 78.8 million phone scam and phishing cases since 2023, with international criminal gangs—often Chinese-coordinated—operating call centres primarily targeting people over 30, young adults aged 20-25, and online shoppers through romance scams and fake e-commerce schemes. Thai and Cambodian authorities have launched operations to dismantle these networks, with 165 arrest warrants issued, though gangs are relocating to neighboring countries; notably, a 60-year-old Thai woman lost over $160,000 in a year-long scam involving a fake Malaysian pipeline investment. U.S. authorities indicted four people in 2023 for