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philstarlife.com
· 2025-12-08
A Thai-British beauty queen lost 4 million baht after two scammers, Ramil Pantawong and 31, and Thanawut Kanyaphanthe, 28, impersonated Thai Department of Special Investigation officers and falsely accused her of money laundering to trick her into transferring funds. The two suspects were arrested as part of a 50-member gang operating from Cambodia that used AI technology to alter their faces during video calls and had victimized at least 163 people with similar schemes involving fake narcotics and money-laundering accusations. The suspects revealed they had been recruited under false pretenses and forced to work for Chinese gang leaders who controlled the operation through threats
english.gujaratsamachar.com
· 2025-12-08
Indian authorities launched a special awareness campaign during Valentine's Week to combat romance scams, where cybercriminals pose as romantic interests to solicit money from victims. A recent case in Ranchi involved a woman who lost ₹7 lakh after meeting a man on a matrimonial site who claimed to need emergency funds before their planned meeting, then disappeared. Authorities urge people to report suspected fraud by calling 1930 or filing complaints at cybercrime.gov.in, emphasizing the need to verify online connections before sending money.
fox10tv.com
· 2025-12-08
Four Jamaican nationals were arrested in Foley, Alabama in February 2023 for operating a lottery scam that defrauded over $200,000 from victims nationwide, primarily elderly people. The suspects used a Publisher's Clearing House scheme, telling victims they had won a lottery but needed to pay "taxes" before claiming winnings; while FedEx intercepted thousands of dollars in cash and checks between April 2020 and February 2023, some victims still lost money. The four men face federal charges of mail fraud, wire fraud, and conspiracy, with potential sentences up to 20 years in prison.
reporternews.com
· 2025-12-08
Scammers in Brown County and surrounding areas are impersonating sheriff's deputies in phone calls, claiming victims have missed court dates or arrest warrants and demanding immediate payment via cryptocurrency machines. The Brown County Sheriff's Office warns that legitimate law enforcement will never call demanding payment for fines or warrants, and victims should report such calls to local authorities. Similar scams have been reported across multiple Texas counties, with perpetrators instructing victims to withdraw bank funds and convert them to Bitcoin or other cryptocurrencies.
news.yahoo.com
· 2025-12-08
The United States Postal Service warned consumers about romance scams that surge around Valentine's Day, in which fraudsters create fake identities on social media and dating apps to build trust with victims before requesting money, gift cards, or wire transfers under false pretenses. The USPS recommends avoiding online relationships that escalate quickly, refusing to send money to people you haven't met in person, and being alert to requests for secrecy or urgent financial assistance. Victims are encouraged to report incidents to the U.S. Postal Inspection Service, local law enforcement, and the Federal Trade Commission.
keyt.com
· 2025-12-08
Craig Case, a security company owner and TV host, is on trial for over 50 felony charges including elder financial abuse and grand theft after allegedly obtaining $690,000 in loans from the estate of deceased Montecito woman Constance McCormick Fearing between 2018-2021. Case used Nancy Coglizer, who held power of attorney over the estate, to obtain the funds in small increments (around $5,000 each) to avoid triggering bank alerts; Coglizer has pleaded guilty and agreed to testify against Case. The prosecution alleges Case exploited Coglizer's personal vulnerabilities, while the defense claims she
justice.gov
· 2025-12-08
Kingsley Apenteng, a Dumfries man, pleaded guilty to wire fraud for fraudulently obtaining $149,740 in Paycheck Protection Program (PPP) COVID-19 relief funds by falsely claiming his inactive company, Pioneers Real Estate LLC, had nine employees and a substantial payroll. Apenteng fabricated tax forms with a forged tax preparer's signature, altered bank statements, and later submitted a false loan forgiveness application that resulted in the SBA approving full reimbursement in November 2021. He faces up to 20 years in prison at sentencing scheduled for May 6.
justice.gov
· 2025-12-08
**Summary:**
John Sposato, a 73-year-old Mississippi resident, was sentenced to 10 months in prison plus an additional 6 months for violating supervised release after pleading guilty to conspiracy to commit bank fraud. While on supervised release from a prior conviction, Sposato attempted to deposit a counterfeit $10,000 check drawn on a Florida nonprofit organization's account into a credit union account under his shell company name, Pegasus Consulting, and falsely claimed to probation officers that the check was legitimate consulting compensation.
newsbreak.com
· 2025-12-08
On February 3, 2025, the Grand Rapids Police Department arrested an out-of-state male in possession of $42,800 cash after investigating multiple "grandparent" scams in which callers falsely claimed victims' grandsons had been arrested and needed bail or legal fees. At least three elderly victims fell victim to the scheme, including a Southeast Grand Rapids couple who paid $17,000; law enforcement identified the suspect through victim descriptions and home surveillance footage, then located the cash in labeled envelopes during a vehicle search warrant execution. Police urge residents to verify family emergencies by directly contacting the family member in question and to report similar scam calls to the Itasca
uk.news.yahoo.com
· 2025-12-08
A Seattle senior identified as David was defrauded of $435,000 by two brothers, Patrick and Matthew McDonagh, who convinced him his roof and foundation needed urgent repairs and then pressured him into paying for work that was never completed or unnecessary. The brothers pleaded guilty to federal wire fraud charges and were sentenced to 18 months in prison, though David was only able to recover $200,000 of the lost funds. The case highlights a common scam targeting homeowners, particularly seniors, who are approached at their doors with claims of urgent repairs and pressured into multiple payments.
northcentralpa.com
· 2025-12-08
Highmark's Financial Investigations and Provider Review department partnered with the FBI Pittsburgh Field Office in 2024 to launch an elder fraud awareness campaign, reaching over 650,000 seniors with information about common scams (romance, tech support, grandparent, and lottery schemes) that cost Americans over 60 approximately $3.1 billion annually. The initiative earned the 2024 Excellence in Public Awareness Award and complemented Highmark's broader anti-fraud efforts, which have saved over $2 billion since 2017 through billing error corrections and programs addressing prescription fraud and substance use disorder.
moneywise.com
· 2025-12-08
A Seattle man identified as David lost over $400,000 to two brothers, Patrick and Matthew McDonagh, who convinced him his roof and foundation needed urgent repairs and then collected payment for work they never completed. The brothers pleaded guilty to federal wire fraud charges and were sentenced to 18 months in prison, though David was only able to recover $200,000 of the fraudulent wire transfer. The case highlights a common scam targeting homeowners, particularly seniors, and experts recommend never hiring door-to-door solicitors and always obtaining a second opinion from a trusted professional before authorizing any repairs.
yahoo.com
· 2025-12-08
The U.S. Postal Service warns consumers about romance scams that develop over months, in which scammers cultivate trust through social media and dating apps before creating fake financial emergencies to solicit money from victims. Once detected, these scams are difficult to recover from and leave victims with significant financial and emotional losses. Consumers should avoid sending money to people they've never met in person, especially those who avoid video calls or request secrecy, and should report suspected romance scams to the United States Postal Inspection Service.
nationwidemediacentre.co.uk
· 2025-12-08
Nationwide research found that 41% of singles seek love online, with 36% admitting to white lies on dating profiles, while only 11% feel confident spotting romance scams where criminals use fake identities to extract money. The research reveals that 27% of online daters have been contacted by imposters and 46% would ignore red flags, with scammers particularly exploiting vulnerable individuals around Valentine's Day when 24% feel pressured to have a date and 29% report loneliness. Nationwide advises caution against suspicious profiles, "love bombing," unverified photos, requests for money, and recommends reporting suspicious activity to protect against romance fraud.
wmtv15news.com
· 2025-12-08
The Better Business Bureau warns consumers about several Valentine's Day scams targeting the $26 billion expected spending for the holiday, including fake websites offering unrealistically low prices on jewelry and goods, romance scams where fraudsters build emotional connections before requesting money, wrong-number text scams designed to extract personal information, and fake florist websites that either never deliver flowers or make unauthorized charges. To protect themselves, consumers should watch for red flags such as suspiciously low prices, requests for cryptocurrency or cash transfers, pressure to meet quickly in romance situations, and unverified sellers, and should verify websites are legitimate and use secure payment methods.
fox40.com
· 2025-12-08
A California man, Fabrisio Arias, was sentenced to 41 months in federal prison for his role in an international sweepstakes fraud scheme targeting elderly Americans between November 2020 and September 2022. Operating with co-conspirators in Costa Rica, Arias received fraudulent payments from 22 victims (many in their 70s-90s) who were tricked into paying fake taxes or fees to claim non-existent prizes, with perpetrators impersonating IRS and FTC officials using spoofed phone numbers. Arias was ordered to pay $395,536 in restitution after laundering over $395,000 through his bank accounts, keeping
ice.gov
· 2025-12-08
Romance scams are confidence schemes where perpetrators build trust with victims to extract money through false pretenses. Nearly 70,000 Americans reported being victims in 2022, with older adults losing approximately $240 million that year; scammers commonly use red flags such as claims of foreign locations, requests for video call avoidance, inconsistent stories, and demands for payment via cryptocurrency, gift cards, or wire transfers. Protection strategies include remaining suspicious of unsolicited contact, verifying identities through independent means, and never sharing personal information or sending money to online contacts, particularly those who quickly profess love or request alternative communication platforms.
kauainownews.com
· 2025-12-08
The County of Kauaʻi Agency on Elderly Affairs, in partnership with multiple state agencies through Kupuna Alert Partners, is hosting a free fraud and scam prevention presentation to address a rising tide of scams targeting seniors, particularly romance scams ahead of Valentine's Day. Romance scams involve criminals creating fake online identities to build trust with victims over weeks or months before soliciting money through fabricated emergencies, often requesting payment via mail, wire transfers, or gift cards. The presentation will cover Medicare fraud, securities fraud, identity theft, and prescription drug misuse prevention, with the U.S. Postal Service emphasizing caution against online relationships that escalate quickly and recommending victims never
finance.yahoo.com
· 2025-12-08
Romance scams targeting older Americans have surged, with fraudsters impersonating celebrities like Keanu Reeves, Jason Momoa, and Sandra Bullock to build fake emotional relationships and extract money. The scams exploit loneliness among seniors, with victims losing an average of $35,000 each, as demonstrated by a recent case where someone lost over $800,000 in a Brad Pitt impersonation scam. Charlie, a banking service for Americans 62+, released this data to educate seniors on red flags including rapid professions of love, avoidance of in-person meetings, fabricated emergencies, and requests for secrecy.
businesswire.com
· 2025-12-08
Romance scams targeting older Americans have surged, with fraudsters impersonating celebrities like Keanu Reeves, Jason Momoa, Sandra Bullock, and Ryan Reynolds to build fake emotional relationships and extract money. Charlie, a banking service for seniors, released this data to raise awareness that scammers exploit lonely older adults through online dating sites and social media, fabricating crises to pressure victims into sending money—with one victim losing over $800,000 in a Brad Pitt impersonation scam. Seniors can protect themselves by recognizing warning signs including rapid professions of love, avoidance of in-person meetings, fabricated emergencies, and requests for
yahoo.com
· 2025-12-08
A Seattle senior was defrauded of $435,000 by two brothers, Patrick and Matthew McDonagh, who convinced him his roof and foundation needed urgent repairs and then pressured him into ongoing payments for work that was never completed or unnecessary. The victim paid through checks and wire transfers over several weeks; he was able to recover $200,000 through a wire transfer reversal, but the outcome of recovering additional funds remains unclear. The McDonagh brothers pleaded guilty to federal wire fraud charges and were sentenced to 18 months in prison, and the case highlights how door-to-door home repair scams disproportionately target seniors, who reported $3.4 billion in frau
cullmantimes.com
· 2025-12-08
This educational piece from the U.S. Postal Inspection Service warns about romance scams, which exploit people seeking companionship by building trust online before requesting money through mail, wire transfers, or gift cards. The article outlines how scammers create fake identities and fabricate emergencies to solicit funds, and provides protective measures including avoiding rapid online relationships, verifying identities through in-person meetings, and never sending money to strangers. Victims are advised to report scams to USPIS, local law enforcement, and the Federal Trade Commission.
wcnc.com
· 2025-12-08
Romance scams have surged significantly, with BBB reporting a 13% increase in 2021 and more than double the cases in early 2022 compared to the prior year. Scammers create fake dating profiles using stolen photos and fabricate elaborate backstories (often claiming military or overseas work) to build fake relationships, eventually requesting money with increasingly persistent demands. The BBB advises potential dating app users to watch for red flags such as reluctance to meet in person, rapid declarations of love, requests to move off dating platforms, suspicious language patterns, and hard luck stories before money requests are made.
cftc.gov
· 2025-12-08
The CFTC and multiple federal, state, and nonprofit organizations launched the "Dating or Defrauding?" awareness campaign to alert Americans to relationship investment scams, which caused nearly $4 billion in reported losses to the FBI in 2023. These scams, also called "pig butchering," use fake profiles on dating apps, social media, and messaging platforms to build false relationships and convince victims to invest in fraudulent cryptocurrency or trading platforms. The campaign identifies red flags including requests for payment, inability to meet in person, and pressure to move conversations to encrypted apps, urging the public to be skeptical and share warnings with friends and family.
wisbusiness.com
· 2025-12-08
Tax scams reappear seasonally with scammers impersonating the IRS through phone calls, emails, and mail to pressure victims into paying fake debts or divulging personal information for identity theft. Common schemes include threatening arrest for unpaid taxes, claiming refunds are owed, using fake IRS logos and spoofed caller IDs, and sending phishing emails directing victims to bogus websites. To protect yourself, file taxes early, remember that the IRS initiates contact by mail only, never accepts prepaid debit cards or wire transfers for payment, and verify any IRS communication directly with the agency.
fox26houston.com
· 2025-12-08
The U.S. Postal Service warns that romance scammers target individuals seeking companionship by creating fake online identities and building trust over weeks or months before requesting money for fabricated emergencies like medical bills or travel expenses. The article provides red flags (such as avoiding video calls, pledging love quickly, and requesting urgent financial help), protective measures (verifying identities through video or reverse image searches, never sending money to strangers), and common scammer tactics to help people avoid losing money through wire transfers, checks, or gift cards that are difficult to recover.
click2houston.com
· 2025-12-08
The FBI Houston issued a Valentine's Day safety guide warning about romance scams, in which fraudsters quickly build fake online relationships and eventually request money by claiming emergencies or business expenses abroad. The guide advises potential victims to be cautious about what they share online, verify profiles through reverse image searches, watch for excuses to avoid in-person meetings, and never send money to people they've only met online. Victims are encouraged to cease contact with scammers and report incidents to the FBI immediately.
newsweek.com
· 2025-12-08
The FBI warned of rising romance scams ahead of Valentine's Day, with victims losing $1.14 billion in 2023 according to the FTC. Scammers create fake profiles on dating apps and social media, build trust quickly, and manipulate victims—sometimes impersonating celebrities or military personnel—to send money or invest in cryptocurrency, with one victim losing $850,000 to a scammer posing as Brad Pitt. Red flags include requests for money, reluctance to meet in person or video chat, and inconsistent stories; prevention through identity verification and caution about rapidly escalating relationships is the best defense.
goldrushcam.com
· 2025-12-08
Fabrisio Arias was sentenced to 41 months in prison and ordered to pay $395,536 in restitution to 22 victims for his role in an international sweepstakes scam that operated from November 2020 to September 2022. Scammers in Costa Rica used spoofed phone numbers to impersonate IRS and FTC officials, convincing elderly victims (many in their 70s-90s) that they'd won prizes and needed to pay fees; Arias received the victims' checks and money orders at his California home, laundered the funds through his bank accounts, and transferred over $237,000 to co-conspi
yahoo.com
· 2025-12-08
The Grandparent Scam is a fraud scheme where criminals pose as a relative—typically a grandchild—claiming to need immediate financial assistance to exploit seniors' emotional attachments and trust. Seniors are targeted because they tend to be trusting, have financial resources, and may be reluctant to report fraud due to shame or fear of losing family confidence. To protect themselves, seniors should resist pressure to act quickly, verify caller information with family members, never wire money based on phone or email requests, and report suspicious calls to local police or the FBI.
justice.gov
· 2025-12-08
Harmish Patel, 26, of Illinois was indicted for his role in a gold bullion scam targeting an elderly couple in Rensselaer County, New York. Between December 2023 and March 2024, Patel conspired with others to transport gold bullion obtained through fraud across state lines from New York to New Jersey on three separate occasions. Patel faces up to 10 years in prison and a $250,000 fine if convicted.
cbs6albany.com
· 2025-12-08
Harmish Patel, 26, of Illinois was indicted for his role in a multi-state gold bullion scam targeting an elderly couple in Brunswick, New York, between December 2023 and March 2024. Patel allegedly conspired with others to transport fraudulently obtained gold bullion across state lines from New York to New Jersey on multiple occasions. The charges carry a maximum penalty of 10 years in prison and a $250,000 fine.
wktv.com
· 2025-12-08
The U.S. Postal Service warns consumers about romance scams that intensify around Valentine's Day, in which fraudsters create fake online identities to build trust with victims over weeks or months before fabricating financial emergencies and requesting money, gift cards, or checks sent through the mail. These scams cause both financial and emotional harm, with victims often unable to recover their funds once the fraud is discovered. USPS recommends avoiding rapid online relationships without in-person or video contact, never sending money to people you haven't met, and reporting suspicious behavior immediately.
prnewswire.com
· 2025-12-08
New York's StateWide Senior Action Council identified Medicare card scams as their February fraud alert, warning seniors that Medicare does not issue new cards annually and scammers exploit this by calling to collect personal medical information or promoting fraudulent "upgraded" cards. Seniors should verify suspicious calls directly with Medicare (1-800-MEDICARE) and protect their Medicare and Social Security numbers like credit cards, reporting suspected fraud to the NY Senior Medicare Patrol Helpline at 800-333-4374.
fox10tv.com
· 2025-12-08
The Commodity Futures Trading Commission launched the "Dating or Defrauding" awareness campaign to warn Americans about relationship investment scams, in which fraudsters use fake dating profiles and text messages to trick victims into converting money to cryptocurrency under the false promise of investment returns. These scams caused reported losses exceeding $4 billion to the FBI in 2023 and target people of all ages, particularly those who live alone or spend significant time on social media. The campaign advises never sending money to people you haven't met in person and recommends reporting suspected fraud through the CFTC or FBI's Internet Crime Complaint Center.
poconorecord.com
· 2025-12-08
Skimming scams—where criminals install devices on ATMs, point-of-sale terminals, and fuel pumps to steal card data—increased 96% in 2023 and cost U.S. consumers over $1 billion annually. Recent law enforcement operations have targeted organized crime groups, including a three-year FBI investigation resulting in 48 arrests and recovery of over 8,000 stolen credit card numbers. The FBI advises consumers to inspect card readers for tampering, use chip/tap-to-pay technology, pull at keypads for overlays, monitor accounts regularly, and choose fuel pumps visible to attendants.
cnet.com
· 2025-12-08
In 2023, people lost $10 billion to fraud according to FTC data, but consumers can protect themselves by recognizing common banking scams. The article outlines ten prevalent scam tactics—including check-cashing schemes, phishing, fake websites, advance fee fraud, and government imposter scams—and provides specific protective strategies such as verifying bank URLs, never clicking unsolicited links, using secure checks, and contacting official customer service lines to confirm requests.
mountaineagle.com
· 2025-12-08
The Walker County Community Action Agency offers free financial planning classes at multiple dates in February and March to help locals organize finances, plan major purchases, and budget for expenses. Additionally, a free elder fraud prevention workshop is scheduled for February 22 at Cordova First Baptist Church, sponsored by the Cordova Ministerial Association and Birmingham FBI Citizens Academy Alumni Association, to educate seniors about common fraud schemes targeting elderly Americans.
justice.gov
· 2025-12-08
Ryan DaCruz, a 28-year-old from Central Falls, Rhode Island, pleaded guilty to bank fraud conspiracy for depositing stolen and fraudulently altered checks totaling approximately $46,000 into multiple bank accounts he controlled between February 2022 and May 2023. Working with confederates who stole checks from the U.S. Mail, DaCruz had the checks "washed" to change payee names to his own, then rapidly depleted the accounts through cash withdrawals and transfers before opening new accounts at different banks when fraud was detected. He faces sentencing on March 11, 2025, and is currently incarcerated on a separate conviction for
vernonmatters.ca
· 2025-12-08
Kelowna RCMP reported a surge in grandparent scams targeting local residents, with multiple victims losing over $20,000 combined. Scammers impersonated grandchildren or lawyers claiming the grandchild had been arrested and needed bail money, then arranged to pick up the cash at designated locations or victims' homes. Police urged residents to be cautious of unsolicited money requests.
fox61.com
· 2025-12-08
Shadia Melissa Aguilar Sarmiento, a 30-year-old Mexican woman, was sentenced to approximately 13 months in prison (time served) for conspiracy to commit wire fraud targeting timeshare owners in the U.S. and Canada. From December 2018 through January 2021, Aguilar Sarmiento and co-conspirators operated an advance fee scheme using fake company names and impersonated licensed attorneys to convince over 50 timeshare owners they could sell their properties, then requested escalating fees through wire transfers to Mexican accounts, ultimately defrauding victims of approximately $2 million. Aguilar Sarmiento
wrdw.com
· 2025-12-08
Cody Lee Anderson, 37, pleaded guilty to conspiracy to commit bank fraud for his role in manipulating an 88-year-old Aiken woman into signing a will during the pandemic that left her approximately $20 million estate to co-conspirator Thomas Allen Bateman Jr., despite evidence she lacked mental capacity to make informed decisions. Anderson, who was designated as personal representative and stood to receive a 5% fee, faces up to 30 years in federal prison, a $1 million fine, and five years of supervision; his co-conspirator Bateman also pleaded guilty and is scheduled for sentencing in March 2025.
kingstonpolice.ca
· 2025-12-08
Kingston Police reported a significant increase in "grandparent" or "emergency" scams, with 15 reports received on February 11, 2025 alone. These scams target seniors by impersonating a grandchild in legal trouble and requesting $8,000-$9,000 in bail money via courier pickup, with scammers sometimes hiring legitimate courier companies unknowingly to transport the cash. Police emphasize that bail is never requested in cash and advise victims to verify caller identity through security questions, call back family members directly, and never send money to unknown persons.
usatoday.com
· 2025-12-08
Skimming scams, which involve criminals stealing credit card data through devices placed on ATMs, fuel pumps, and point-of-sale terminals, increased 96% in 2023 and cost U.S. consumers over $1 billion annually. Major enforcement actions include a three-year FBI investigation targeting Romanian organized crime that resulted in 48 arrests and recovery of 8,000 stolen card numbers and approximately $1 million in seized currency. Consumers can protect themselves by inspecting card readers for tampering, using chip or tap-to-pay technology, monitoring accounts for unauthorized transactions, and choosing well-lit fuel pumps near store attendants.
ice.gov
· 2025-12-08
In February 2024, an elderly woman lost approximately $550,000 in a computer support scam where criminals impersonated Microsoft customer support; she promptly reported the crime to police, enabling ICE Homeland Security Investigations to trace and seize the remaining funds after one wire transfer was reversed by the bank. Through a civil asset forfeiture action coordinated with the U.S. Attorney's Office, $328,573 was recovered and returned to the victim in February 2025, representing a rare successful recovery of nearly all stolen funds.
ice.gov
· 2025-12-08
In February 2024, an elderly woman lost approximately $550,000 to a computer support scam impersonating Microsoft customer support through two wire transfers. Following a quick report to local police, ICE Homeland Security Investigations traced and recovered $328,573 in seized funds, while the bank reversed an additional $221,000, ultimately returning nearly all the victim's money by February 2025. This case demonstrates the importance of reporting cyber scams immediately to law enforcement, as quick action enabled recovery of most of the stolen funds through coordinated federal and banking efforts.
edhat.com
· 2025-12-08
A Santa Barbara County fraud case involved Craig Case, a former private investigator and TV host, and Nancy Coglizer, who held power of attorney for elderly Montecito resident Constance McCormick Fearing, systematically embezzling over $600,000 from the deceased woman's funds through repeated "short-term" loans disguised as small withdrawals to avoid detection. Coglizer pleaded guilty to mismanaging Fearing's finances, claiming manipulation by Case and personal struggles with alcoholism influenced her actions, while Case faces conspiracy and financial elder abuse charges; Coglizer awaits sentencing in a case highlighting vulnerabilities of elderly individuals in financial matters.
finance.yahoo.com
· 2025-12-08
Merck Employees Federal Credit Union partnered with Carefull, a financial safety service, to provide members with fraud protection tools including real-time account monitoring, identity protection, and issue resolution services. The partnership addresses rising elder fraud and sophisticated scams by offering 24/7 alerts and expert support to help members detect unauthorized transactions quickly and recover funds, with education components to help members learn fraud prevention strategies.
businesswire.com
· 2025-12-08
**Summary:**
Merck Employees Federal Credit Union has partnered with Carefull, a financial safety service, to provide members with proactive account monitoring, identity protection, and fraud resolution tools to combat rising elder fraud and scams. The partnership offers all MEFCU members, their parents, and caregivers 24/7 account monitoring and real-time alerts for unusual transactions, addressing the gap in protection for older adults who may not regularly check their accounts.
advisorhub.com
· 2025-12-08
Marjorie Kessler, a senior investor in Tampa, Florida, lost nearly $1.75 million to scammers impersonating government officials who convinced her to withdraw funds for safekeeping in a U.S. Treasury account. Morgan Stanley was ordered to pay $843,000 in compensatory damages for failing to investigate her unusual withdrawal requests and neglecting to establish a trusted contact on her account as required by regulations, though the arbitration panel deducted the first transfer amount due to insufficient evidence of negligence.