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justice.gov
Bradley Morgan Holts, a 54-year-old former financial advisor and stockbroker in Orange, Texas, pleaded guilty to wire fraud in March 2025 for deceiving investors. Holts created a fraudulent bank account posing as "Invesco Investment Texas" to solicit client funds intended for legitimate Invesco investments, which he then misappropriated for personal use. He faces up to 20 years in federal prison at sentencing.
states.aarp.org
**Fraud Prevention Efforts in Virginia**
Fraud losses among Virginia adults 60 and over surged from $25 million in 2020 to $94 million in 2023, prompting AARP Virginia to launch widespread fraud prevention workshops throughout the state. Common scams targeting seniors include tech-support impostor schemes, utility bill fraud, identity theft, and impostor scams, with veterans being 40 percent more likely to lose money when targeted. AARP Virginia is combating this rising threat through community presentations, online workshops, and trained volunteer speakers who educate residents on recognizing and avoiding the latest fraud schemes.
states.aarp.org
In 2024, Michigan residents reported $204 million in fraud losses—a dramatic increase from $60 million in 2020—with an 84-year-old woman losing $40,000 to a man posing as a bank employee serving as one documented case. Scams targeting older adults have diversified to include impersonation, extortion, investment fraud, tech-support schemes, and cryptocurrency fraud, with crypto scams alone affecting Michigan seniors at growing rates (141 instances in 2022 vs. 262 in 2023, with losses rising from $14 million to $24 million). AARP Michigan is responding with fraud prevention education sessions, document sh
wdsu.com
Beth Highland, a 52-year-old woman, lost $26,000 in a romance scam after meeting a man named "Richard" on a dating app who posed as a construction worker needing help with payments for a project in Qatar. The scammer gained her trust through incremental requests for money, eventually convincing her to send $26,000 in bitcoin for a supposed account unfreezing fee, before she consulted a financial advisor who identified the scheme as classic romance fraud. Her case has prompted legislative attention, with the Romance Scam Prevention Act being introduced to require dating apps to notify users about accounts flagged for fraud, and law enforcement has yet to apprehend the scammer or
valadao.house.gov
Congressmen David Valadao, Brittany Pettersen, Tom Suozzi, and Craig Goldman introduced the bipartisan Romance Scam Prevention Act, which requires online dating platforms to notify users if they have interacted with someone removed from the app for fraudulent activity. Romance scams cost Americans over $1.1 billion in 2023, with scammers using fake identities to manipulate victims into financial exploitation on platforms used by over 60 million Americans.
drinksindustryireland.ie
Bank of Ireland warns that fraudsters continuously employ multiple scam tactics beyond April Fool's Day, with the most common schemes including investment fraud, smishing texts, vishing calls, purchase scams, romance scams, family impersonation, rental/holiday fraud, money mule recruitment, malware, and phishing emails. The bank emphasizes that victims should watch for red flags such as promises of unrealistic returns, pressure to act quickly, celebrity endorsements of investments, and demands for secrecy, while never sharing PINs, activation codes, or other sensitive credentials. Bank of Ireland offers 24/7 fraud support at 1800 946 764 to help customers identify
pratidintime.com
**Summary:**
Dipjyoti Bora, a resident of Dibrugarh, was arrested by Guwahati police for orchestrating an elaborate romance scam that defrauded at least ten women of approximately ₹50 lakh. Bora used fake identities, including posing as an Oil India employee, to charm victims—primarily divorced bank employees—on dating apps, building trust before extracting money through fabricated promises of love and marriage. Police seized luxury vehicles, multiple mobile phones, and financial documents during his arrest, with authorities expecting additional victims to come forward.
hinghamanchor.com
A 76-year-old Hingham resident lost $30,000 in a tech support scam after scammers convinced him his bank account was at risk, instructing him to withdraw cash and deposit it into a Bitcoin machine at a gas station under the guise of an "FDIC machine." The resident became suspicious only when the scammer requested an additional $35,000 and arranged for someone to pick up cash at his home, at which point he realized the fraud and contacted his bank. Police warn that scammers typically keep victims on the phone for extended periods while directing them through withdrawal and deposit steps, using fear tactics to prevent victims from verifying information with trusted contacts.
coinfomania.com
A South Korean court sentenced three fraudsters to 4.5, 3.5, and 2.5 years in prison for operating a fake cryptocurrency investment scheme in Busan that defrauded victims of $416,000 by promising unrealistic 30% monthly returns and restricting fund withdrawals. The scammers manipulated investors through false promises, prevented withdrawals to maintain control of funds, and used referral schemes to attract additional victims. South Korean authorities are intensifying efforts to combat cryptocurrency fraud through stricter regulations and increased oversight, while warning investors to be cautious of schemes promising high returns with minimal risk.
infosecurity-magazine.com
US authorities recovered $8.2 million in stolen cryptocurrency from a "romance baiting" scam ring that targeted at least 30 victims through fake investment schemes initiated on dating sites, with one Cleveland-area victim losing her entire $650,000 retirement account. The Department of Justice used blockchain analysis to trace the laundered funds across multiple cryptocurrency platforms and networks, ultimately seizing them for potential restitution to victims. Romance baiting scams typically involve scammers grooming victims on dating platforms before persuading them to invest in fraudulent schemes, with operations often run by trafficked individuals in Southeast Asia.
saharareporters.com
Three Nigerian nationals—Olumide Olorunfunmi, Samson Amos, and Emmanuel Unuigbe—pleaded guilty to a multimillion-dollar money laundering conspiracy involving romance scams and business email compromise fraud that victimized over 125 individuals from 2020 to 2023. The conspirators deceived elderly victims and businesses into transferring funds, then laundered the money through multiple domestic and international accounts while converting stolen dollars to Nigerian currency at black market rates. The three defendants face a combined potential 60-year prison sentence, with money laundering charges carrying a maximum 20 years per defendant.
pymnts.com
British banks (Barclays, HSBC, Santander, Lloyds), tech companies (Amazon, Meta, Google), and telecoms (BT, Three) have pledged to increase real-time data-sharing on fraud indicators to detect scammers faster, moving beyond a 2023 pilot program to exchange tens of thousands of data points daily. Fraud accounts for 41% of offenses in England and Wales, costing an estimated $8.8 billion annually, with investment scams causing median losses of $1,104 and romance scams causing median losses of $1,996 per victim.
theguardian.com
The Dedicated Card and Payment Crime Unit (DCPCU), comprised of officers from London and Metropolitan police forces, combats sophisticated payment fraud across the UK, recovering luxury goods and criminal tools from raids. The National Crime Agency estimates 40% of crime is fraud-related with billions lost annually, complicated by victim under-reporting due to shame and embarrassment, as well as criminals' use of advanced technology, AI-generated content, and international operations to evade detection. Law enforcement emphasizes that fraud victims experience significant psychological harm beyond financial loss, and encouraging reporting through family and community support networks is critical to combating these crimes.
staysafeonline.org
This educational article explains how AI-powered scams using voice cloning and deepfake technology work, where criminals replicate the voices and likenesses of trusted contacts to request urgent financial help or sensitive information. The article advises families, coworkers, and organizations to establish pre-agreed safe words or phrases—shared only among trusted parties—as a verification method to confirm identity during unexpected calls or messages and prevent falling victim to these AI-enhanced fraud schemes. Key recommendations include making safe words unique and difficult to guess, keeping them private through secure channels, and using different safe words for different groups or contexts.
huffpost.com
The Social Security Administration is eliminating phone-based identity verification for retirement, survivor, and family benefit applications starting April 14, requiring most beneficiaries to apply online or in person instead—a change intended to combat fraud but which advocates warn will disproportionately burden elderly, disabled, rural, and technology-limited populations who lack smartphones, internet access, or valid identification. The policy excludes disability insurance, Medicare, and Supplemental Security Income applicants, who may continue filing by phone, but will affect approximately three-quarters of Social Security beneficiaries who are retirees and grieving families seeking survivor benefits.
huffpost.com
Starting April 14, the Social Security Administration will eliminate phone-based identity verification for most retirement and family benefit applicants, requiring them to apply online or in person at field offices instead—a change that advocates warn will disproportionately burden elderly, rural, and less tech-savvy beneficiaries who lack internet access, smartphones, or proper identification. The policy, implemented as part of an anti-fraud initiative, exempts disability insurance, Medicare, and SSI applicants from the requirement but will affect approximately three-quarters of Social Security beneficiaries and grieving families applying for survivor benefits, who previously could complete applications entirely by phone.
justice.gov
Four individuals were indicted on federal charges of conspiracy to commit mail fraud, wire fraud, and money laundering as part of a sweepstakes scam that defrauded elderly and vulnerable victims of over $4.5 million across Pennsylvania and the United States. The defendants and their co-conspirators contacted victims claiming they had won multi-million-dollar prizes and used forged documents to convince them to send money in taxes and fees, which was then laundered through bank accounts and money mules to conspirators in Jamaica. All four defendants were arrested between March 14-27, 2025, and face sentences of up to 20 years in prison.
finance.yahoo.com
A 79-year-old retired teacher lost approximately $400,000 to a Facebook romance/investment scam after befriending a man named "Robert" who promised 100x returns on investments in exchange for gift card payments to retailers like Apple, Target, and eBay. The scam drained her 401(k) and created significant credit card debt, and she continued sending money to the scammer even after her son discovered the fraud. The article advises protecting elderly relatives by verifying recipient information before sending money, strengthening privacy settings, avoiding suspicious links, reporting scams to the FTC, and using the National Elder Fraud Hotline (1-833-372-8311
newsbreak.com
Hector Claveria, 51, of New York was sentenced to two years in federal prison for money laundering in March 2025 after wiring $20,000 overseas to conceal proceeds from fraudulent schemes targeting elderly and vulnerable victims. The laundered funds were connected to an elder fraud scheme where perpetrators deceived seniors into sending cash by falsely claiming they owed money to government agencies, as well as a computer fraud scheme involving fake tech service debt. Claveria, who acted as a money mule, was also ordered to forfeit $20,000 and complete three years of supervised release.
deccanchronicle.com
A Noida man, Daljit Singh, lost Rs 6.3 crore in savings after being befriended by a woman named Anita on a dating app who convinced him to invest in fraudulent trading platforms promising high returns. Singh initially invested Rs 3.2 lakh and saw quick profits, which encouraged him to transfer his entire life savings of Rs 4.5 crore plus an additional Rs 2 crore loan across 30 transactions to 25 bank accounts. When he attempted to withdraw his funds, he was asked to pay a 30% fee; after refusing, the scammer disappeared and the websites went offline, prompting Singh to file a cyber complaint with
timesofindia.indiatimes.com
Financial scams in Maharashtra have surged dramatically, with share investment fraud losses multiplying from Rs 62.2 crore in 2023 to Rs 1,047.3 crore in 2024, affecting victims across age groups through stock market schemes, cryptocurrency scams, employment fraud, and gift parcel scams. Experts identify inadequate research, over-reliance on social media, and the desire for quick gains as primary vulnerabilities, with senior citizens comprising 60% of victims who lose life savings. Key prevention measures include verifying investments through registered brokers, avoiding unverified social media offers, and conducting proper market research before committing funds.
en.antaranews.com
Indonesian authorities repatriated 29 citizens arrested in the Philippines for involvement in online gambling and scam operations at a Manila-based company; they were questioned upon arrival to separate alleged victims from perpetrators. This repatriation follows a larger operation that brought home 569 Indonesian migrant workers from Myanmar who were victims of human trafficking forced into investment and romance scams, with government data indicating approximately 6,800 Indonesian citizens are suspected victims of human trafficking abroad as of February 2025.
thestar.com.my
A 70-year-old woman in Muar lost RM229,050 (over RM200,000) across 30 transactions after being added to a Facebook group in January where she was recruited into a fake investment scheme promising high returns via a fraudulent app. She discovered the scam on March 25 when asked to deposit additional funds to withdraw her supposed earnings, prompting her to file a police report.
finance.yahoo.com
**Title:** The more money you have, the more you have for scammers to steal
Wealthy individuals are targeted by sophisticated fraudsters through multiple schemes including whaling (personalized phishing), impersonation of trusted advisors, investment scams, tax-related fraud, fake seller websites, and charity scams, with single transactions potentially resulting in losses of hundreds of thousands of dollars. Scammers use open-source intelligence and social engineering to build trust, create convincing impersonations (including deepfake videos and AI-generated communications), and exploit high-net-worth individuals' busy schedules and trust in established relationships. The article advises victims to verify identities directly
moderndiplomacy.eu
Sophisticated AI-powered scams are emerging as a major threat, combining deepfake technology, voice cloning, and personalized phishing to create highly convincing fraud. Cybercriminals use AI to automate social engineering attacks at scale, impersonating trusted figures through manipulated videos and voice messages, while AI-generated phishing leverages personal data to craft customized deceptive communications. Organizations and individuals must implement advanced security measures and heightened vigilance, as traditional detection methods are increasingly inadequate against these evolving threats.
azcentral.com
"Pig butchering" scams, which lure victims into fake investment schemes, became the most frequently investigated crime by the Secret Service in Arizona in 2024, with the scam causing an estimated $2.5 billion in nationwide losses and an average loss of $700,000 per investigated case. Arizonans lost millions to this fraud, which has continued to increase in frequency and impact.
fox9.com
Americans over 60 lost $3.4 billion to scams in 2023, an 11% increase from 2022, with the FBI receiving over 101,000 complaints from this age group and an average loss of nearly $34,000 per victim. Tech support fraud was the most common scam type, while investment fraud was the costliest at $1.2 billion in losses, followed by tech support scams at $589 million and illegal impersonation calls at $700 million. The actual figures may be significantly higher since only half of reported complaints included victim age data and many seniors never report their losses due to stigma.
thestarnews.com
San Diego County seniors lose approximately $100 million annually to scams, though actual figures are likely higher due to underreporting caused by victim shame. A prevalent scam involves fraudsters posing as tech companies, gaining remote access to victims' computers to steal financial information, often resulting in cash pickups by couriers or victims purchasing gold under false pretenses. The San Diego District Attorney's Elder Justice Task Force, composed of local and federal law enforcement, prosecutes perpetrators through state and federal charges while providing public education on prevention strategies including never allowing remote access, avoiding unsolicited pop-ups, and immediately reporting suspicious activity to the FBI IC3 and local police.
thealpinesun.com
San Diego County seniors lose approximately $100 million annually to scams, though the actual figure is likely higher due to underreporting from shame. The San Diego Elder Justice Task Force, comprising local and federal law enforcement, collaborates to prosecute perpetrators and identify criminal rings, with a focus on common schemes like fake virus alerts that trick victims into granting remote computer access or purchasing gold, often followed by cash pickup via courier. The District Attorney's office provides preventive guidance including never allowing remote access to devices, refusing to meet unknown individuals with cash, and immediately reporting suspected fraud to the FBI IC3 and local police.
securityaffairs.com
On February 27, 2025, the U.S. Attorney's Office in Ohio filed a civil forfeiture complaint for $8.2 million in cryptocurrency linked to a "pig butchering" romance scam, in which fraudsters built false romantic and financial relationships with victims via anonymous messaging apps before exploiting them. One Cleveland victim liquidated over $650,000 in retirement savings; the FBI used blockchain intelligence to trace funds across multiple crypto platforms and networks, ultimately leading to the seizure and reissuance of the frozen Tether tokens for victim restitution. This case highlights the rapidly growing threat of pig butchering scams—often operated by human trafficking syndicates from
onlineathens.com
An Athens man lost over $70,000 to a cryptocurrency investment scam after being befriended by a woman named "Lyra" on Instagram who convinced him to invest through a fraudulent app. When he attempted to withdraw funds to pay off his car, he was told to deposit more money first, and upon checking the app again, his $74,000 balance had been reduced to 25 cents. The FBI warns that these "pig butchering" scams manipulate victims into making repeated deposits into fake cryptocurrency investments controlled by overseas criminals, with victims typically losing all invested funds.
fox26houston.com
Americans over 60 lost $3.4 billion to scams in 2023, an 11% increase from 2022, with the FBI receiving over 101,000 complaints from seniors that year—a 14% jump. Tech support fraud was the most common scam type, while investment fraud proved the costliest at $1.2 billion in losses, followed by tech support scams at $589 million and illegal call scams at over $700 million. The actual losses may be significantly higher since only about half of complaints to the Internet Crime Complaint Center included victim age data, and many seniors never report their losses due to stigma and emotional impact.
natlawreview.com
The CFTC secured a $2.3 million enforcement action and default judgment against Debiex, a fraudulent digital asset platform that operated a "pig butchering" romance scam, misappropriating over $2 million from customers who believed they were making legitimate cryptocurrency trades. Debiex operators cultivated romantic relationships with victims to gain trust, then solicited them to fund fake trading accounts that never actually traded. The judgment requires Debiex to pay $221,466 in civil penalties and $2.2 million in restitution, and qualified whistleblowers now have 90 days to claim awards of 10-30% of collected funds.
usatoday.com
Luis Alfonso Bisono Rodriguez, a 34-year-old Dominican Republic citizen living in Cleveland, was indicted for operating a grandparent fraud scheme that defrauded at least five elderly victims (ages up to 91) of approximately $50,000 between June 2024 and January 2025. The scheme involved scammers posing as victims' relatives and authority figures (attorneys, bail bondsmen) to convince seniors to withdraw cash, which was then transported via rideshare drivers to locations where Rodriguez collected and wired the money to the Dominican Republic. This case reflects a broader trend in which elderly Americans lose as much as $3.4 billion annually to grandparent frau
saanichnews.com
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clarencevalleynews.com.au
In 2024, Australians lost $2 billion to scams (down 25.9% from 2023), though more people fell victim to increasingly sophisticated impersonation scams, with social media being the leading contact method for financial loss at $69.5 million across 7,724 reports. Common impersonation scams include bank impersonation, government agency impersonation, family/friend impersonation using deepfakes, job scams requiring upfront payments or bank access, and celebrity endorsement scams. The key prevention strategies are to stop and verify before giving money or information, check requests independently using known contact details, and protect yourself by contacting your bank immediately
technologyreview.com
Gavesh, a South Asian man facing financial hardship, was trafficked into a "pig butchering" scam operation after responding to a fraudulent Facebook job posting promising $1,500 monthly salary. Criminal syndicates operating from compounds in Myanmar-Thailand border regions use social media platforms and tech services to recruit victims and conduct romance/investment fraud schemes that have netted billions of dollars globally, exploiting trafficked workers through coercion and violence. The investigation reveals that major tech companies—including social media, dating apps, cryptocurrency platforms, and messaging services—have enabled the industrialization of these fraud operations and may hold the key to dismantling them if compelled to take action.
justice.gov
**Summary:**
Hector Claveria, 51, of New York was sentenced to two years in prison in March 2025 for laundering proceeds from elder fraud and computer fraud schemes. Starting in early 2020, Claveria acted as a money mule by collecting cash packages and wiring $20,000 in June 2020 to a foreign account, knowing the funds came from scams targeting elderly victims with fake government/company debt claims and computer service fraud. He was also ordered to forfeit $20,000 and serve three years of supervised release.
govtech.com
Elder fraud cases, including pension fraud, increased 84 percent in 2022 with losses in the tens of billions of dollars, driven by vulnerabilities in digitized pension systems and delayed death record updates that allow criminals to divert benefits to fraudulent recipients. Advanced digital identity verification technology, including AI-powered cross-referencing of personal data and biometric markers, offers pension operators a proactive defense mechanism to authenticate beneficiaries and verify death status before approving transactions. Enhanced identity verification measures are essential for government pension programs to safeguard retirees' financial security and maintain public trust in these systems.
njbiz.com
New Jersey launched an online portal on March 26, 2025, to streamline reporting of suspected financial exploitation of elderly and vulnerable adults by financial professionals under the state's SAFE Act. Since the law took effect in April 2020, financial professionals have reported over 1,200 suspected fraud cases, resulting in halted disbursements from dozens of victim accounts. The new digital portal allows faster submission of fraud alerts and supporting documents, enabling the Bureau of Securities to intervene more quickly before vulnerable adults lose their assets.
newsbreak.com
Hector Claveria, 51, of New York, was sentenced to two years in federal prison in March 2025 for laundering $20,000 in proceeds from elder fraud and computer service scams that targeted victims nationwide. The schemes deceived elderly individuals and computer users into sending payments by falsely claiming they owed money to government agencies, businesses, or tech companies. Claveria served as a money mule, collecting cash from these frauds and transferring funds to foreign accounts to obscure their illegal origin, and was also ordered to forfeit $20,000 and serve three years of supervised release.
malaymail.com
A 38-year-old trader in Johor Baru lost RM120,873.69 in January 2024 after clicking on a fake job advertisement on Google and making 11 transfers to accounts controlled by a scam syndicate that promised high profits for sales. The victim was instructed to make additional payments to withdraw non-existent profits, and upon realizing the deception, reported the incident to police. Authorities confirmed the five bank accounts involved had 22 prior reports of investment and job scams, and are investigating under Section 420 of the Penal Code.
yahoo.com
This BuzzFeed article compiles a Reddit discussion about normalized scams and deceptive practices that Americans encounter daily, including dental insurance with stagnant coverage limits despite rising costs, streaming service paywalls, convenience fees, credit card processing fees that total $160 billion annually, and misleading marketing tactics. The piece highlights systemic issues in insurance, finance, and consumer services where people unknowingly accept unfavorable terms as standard practice.
buzzfeed.com
This article compiles Reddit users' perspectives on widespread "scams" that operate openly in modern society, including dental insurance with low annual maximums, streaming service paywalls, credit card processing fees ($160 billion annually), tipping culture, and misleading product naming. Rather than illegal fraud, these examples represent systemic practices and marketing tactics that users argue exploit consumers through deceptive pricing, unnecessary fees, or cultural pressure without clear deception. The article is educational commentary on business practices rather than coverage of a specific fraud case.
wkyc.com
The Better Business Bureau's 2024 Scam Tracker Risk Report identified investment scams as the riskiest fraud threat, with victims losing a median of $5,000 per incident. These scams typically target people seeking fast returns with minimal risk by using unsolicited contact (especially on social media), building false relationships, and requesting personal information or clicks on malicious links. Key protective measures include avoiding investment offers from strangers, being wary of unsolicited relationship-building by potential fraudsters, and refusing to click unknown links or share sensitive personal data.
financialregnews.com
A U.S. District Court in Arizona issued a default judgment against Debiex, a fraudulent digital commodity trading operation, finding the company liable for misappropriating over $2 million in customer funds through romance scam tactics and fake trading platforms. The court ordered Debiex to pay $221,466 in civil penalties and $2.2 million in restitution, and banned the company from CFTC-regulated markets; additionally, approximately $120,000 in digital assets held by money mule Zhang Cheng Yang were ordered returned to defrauded customers. The scheme involved solicitors befriending victims on social media, convinc
cnbc.com
Tax season is a prime target for scammers seeking to steal refunds and identities, with Americans losing $9.1 billion to tax and financial crimes in 2024, and nearly one in four Americans impacted by tax scams at some point. Key protective measures include setting up an IRS Identity Protection PIN, ignoring unsolicited tax-related emails and texts, avoiding cryptocurrency payments for taxes, and implementing strong passwords and two-factor authentication. Experts stress that the IRS never initiates contact via email or text and does not accept cryptocurrency or demand immediate payment under threat.
bostonglobe.com
Modern scams are becoming increasingly sophisticated and effective due to advanced technology and organized criminal groups operating internationally. The article illustrates this trend through the example of a utility company impersonation scam targeting a Maine resident, and explains how scammers exploit phishing, deepfakes, AI-generated content, and cryptocurrency investment schemes to defraud victims. Key protective strategies include verifying accounts directly through official channels and remaining suspicious of urgent payment demands, particularly those requesting digital payment methods like Zelle.
news9.com
A nationwide "smishing" scam impersonates the E-ZPass toll collection system, sending text messages claiming unpaid toll balances or violations and demanding payment within 12-24 hours to avoid DMV reporting and late fees. The fraudulent texts contain malicious links designed to steal personal information or money from victims across multiple states. To protect themselves, recipients should verify suspicious messages through official agency websites, avoid clicking unknown links, and report scam texts as spam; imposter scams collectively cost Americans nearly $3 billion in 2023.
aarp.org
American adults lost $47 billion to identity fraud and scams in 2024, a $4 billion increase from 2023, according to a Javelin Strategy & Research report cosponsored by AARP. The losses included $27 billion from traditional identity fraud affecting 18 million people and $20 billion from scams using social engineering, with criminals deliberately targeting older adults perceived as having significant savings and less technological comfort. Account takeover fraud and new-account fraud are growing problems, reaching $15.6 billion and $6.2 billion respectively in 2024, driven partly by technological gaps in security and weak privacy laws that allow data breaches and unauthorized data sharing.