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cftc.gov
A federal court ordered five defendants—two Chinese residents (Qian Bai and Chao Li), one Oklahoma resident (Lan Bai), and two UK companies (Aipu Limited and Fidefx Investments Ltd.)—to pay approximately $19 million in civil penalties and restitution for operating fraudulent trading websites that misappropriated at least $3.6 million from at least 34 customers over 18 months. The scheme involved soliciting victims through fake platforms claiming to offer leveraged commodity and foreign currency trading contracts. The CFTC advises the public to verify company registration before investing and warns of increasing romance scams that lure
livemint.com
**Summary:**
Nearly 20 people in Hong Kong lost over HK$10 million in online romance scams within two weeks, with 40% of victims over age 60. One 70-year-old man lost his life savings of HK$3 million after a scammer posing as a woman built an online relationship with him over two months, using romantic messages and claims of cryptocurrency expertise to convince him to transfer funds. Hong Kong police warn the public to verify identities through video calls, avoid sending money to online strangers, and be skeptical of investment promises.
aol.com
A 36-year-old Canadian man, Jia Hua Liu, was arrested in July after conducting a multi-state door-to-door scam targeting seniors across Ohio, Indiana, New Mexico, and Tennessee, defrauding victims of an estimated $309,000 total. One Charlestown, Indiana resident was tricked into withdrawing $27,000 from his retirement accounts and handing it over in cash; three additional attempted scams in Indiana, Kentucky, and Michigan were prevented by family members, potentially saving another $70,000 in losses. Liu was apprehended at Louisville airport while attempting to flee the country and faces charges including theft, fraud, conspiracy, an
kwch.com
A Wichita woman was scammed out of thousands of dollars by Frank Annin, whom she met on the dating app eHarmony in June 2022; Annin used classic romance scam tactics including "love bombing," moving communication off the app, and feigning wealth before disappearing with the money. During trial testimony, a psychologist specializing in geriatrics explained how scammers manipulate victims by creating emotional dependency and how victims may continue believing the relationship is real even after recognizing financial fraud. This marks the first romance scam prosecution in Sedgwick County.
greenwichsentinel.com
At a July 2 Retired Men's Association meeting, computer expert Aaron Woodin presented "Don't Fall for It! Recognizing and Avoiding Scams," detailing how scammers exploit trust through tactics like false urgency, emotional manipulation, and enforced isolation. He identified common digital threats including fake event invitations and invoices, scam pop-ups, social media impersonations, phone-based impersonations of tech companies and government agencies, grandparent/romance scams, and SIM Swap attacks. Woodin advised victims to verify contact information independently, shut down suspicious screens, avoid calling numbers on suspicious invoices, add cyber fraud insurance riders, and contact mobile
vocal.media
Romance scams cost Americans over $1.3 billion in 2022, with losses quadrupling over five years and affecting victims across all age groups, though those 50 and older account for approximately 60% of reported cases. Sarah, an Ohio woman, lost $45,000 to a romance scammer impersonating a successful oil rig worker named Marcus over three months before discovering the entire relationship was fabricated. These increasingly sophisticated, organized international schemes employ specialized teams that steal identities, build emotional connections through psychological manipulation, and exploit fundamental human needs for connection to extract money from victims.
moodys.com
This article provides an overview of the evolving fraud landscape, noting that the United States experienced over 59,000 fraud risk events in 2024—a 12,500 event increase over five years—while globally, an estimated $1.03 trillion is lost annually to fraud schemes including credit card fraud, romance scams, phishing, and identity theft. Businesses are implementing comprehensive fraud prevention strategies, including ongoing screening and monitoring, third-party risk management, and compliance with new regulations like the UK's "failure to prevent" fraud offence that requires senior managers to allocate reasonable budgets for fraud prevention technology and training. The article emphasizes that effective fraud prevention requires collaboration among financial institutions, adverse
rstreet.org
The GUARD Act is a proposed federal rule that would authorize law enforcement agencies at all levels to use existing Department of Justice grant funds to investigate elder financial fraud and scams like pig butchering schemes, with support for emerging technologies, real-time intelligence sharing, and interagency coordination. The legislation addresses a critical need, as FBI data shows fraud complaints from adults over 60 increased 46 percent in 2024 to 147,127 cases, yet 78 percent of fraud victims do not report incidents to law enforcement due to shame and jurisdictional challenges that make prosecution difficult. The bill aims to combat transnational organized crime targeting elderly Americans, who face vulnerabilities including diminished digital literacy
seehafernews.com
The Winnebago County Sheriff's Office warns that romance scams are among the most frequent and devastating scams in the county. Scammers initiate contact via social media using stolen or AI-generated images, build false intimacy quickly, then move conversations to private messaging apps where they pressure victims for money via cryptocurrency or gift cards through fabricated emergencies. The office advises skepticism toward fast-moving online relationships, repeated excuses to avoid in-person meetings, and immediate caution when anyone met online requests money.
kesq.com
Romance scams exploit victims' emotional vulnerability, with the FTC reporting at least 70,000 cases annually resulting in approximately $1.3 billion in losses. Common types include catfishing schemes using fake profiles, military impersonation scams that justify avoiding in-person meetings, oil rig worker scams that request money for travel or medical expenses, and sugar daddy/mama schemes that solicit intimate photos for blackmail purposes. The article advises potential online daters to conduct background checks and remain vigilant about suspicious requests for money or personal information from new romantic contacts.
mk.co.kr
Voice phishing and its variants—including investment fraud, romance scams, smishing (text fraud), and fake reservation scams—have become increasingly sophisticated over the past 20 years, with the "five major phishing crimes" causing 1.687 trillion won in damages last year, 3.4 times more than robbery and theft combined. Victims of phishing crimes suffer average losses of 48.75 million won per case with less than 3% recovery rates, yet many phishing variants lack legal classification as telecommunications fraud and fall outside the official response system, leaving victims without integrated support channels or adequate online resources for assistance.
adf-magazine.com
Africa faces a surge in cybercrime including fake investment scams, ransomware, business email compromise, and digital sextortion, with suspected scam notifications rising 3,000% in some countries according to Interpol's 2025 Africa Cyberthreat Assessment Report. South Africa and Egypt experienced the highest ransomware detections (17,849 and 12,281 respectively), while critical infrastructure and government databases across Nigeria and Kenya were breached, with digital sextortion cases rising sharply across 60% of African member countries. Experts attribute the vulnerability to rising digital dependency combined with severe cybersecurity capacity gaps, though some African nations have made progress through strengthened legal
koreajoongangdaily.joins.com
Police in Thailand arrested 19 Korean nationals operating a romance scam ring from a villa in Pattaya on June 21, 2025, discovering dozens of electronic devices and materials used to conduct scams and voice phishing operations. The suspects had developed criminal scripts with assigned roles and Korean-language scam materials, and attempted to flee when officers raided the compound but were apprehended at the scene. South Korean and Thai authorities plan to repatriate the suspects and are analyzing confiscated devices to identify additional offenses and accomplices while coordinating a joint strategy against cross-border criminal organizations in Southeast Asia.
au.finance.yahoo.com
Australians are being targeted in a growing "money mule" scheme where individuals rent out their bank accounts to criminals who use them to launder illegally obtained funds, typically earning $200-$500 plus commissions per transfer. The Australian Banking Association and Australian Federal Police reported detecting nearly 13,000 mule accounts in 2024-25, with one Sydney woman jailed in April 2024 after her 10 accounts were used to launder almost $4 million in criminal funds that were transferred overseas. Criminals recruit mules through social media, gaming platforms, and employment, threat, or romance scams, but authorities warn this activity facilitates money laundering and exposes participants
afp.gov.au
Australian authorities are cracking down on money mules who rent or sell their bank accounts to criminals for $200-$500, with the AFP and Australian Banking Association warning that this activity enables money laundering and supports organized crime. Criminals recruit mules through employment scams, romance scams, and threats, routing illicit funds through legitimate bank accounts to obscure their origin; in one case, a Sydney woman was imprisoned in April 2025 for renting 10 accounts used to launder $3.8 million. Renting or selling bank accounts is illegal and can carry life imprisonment charges, and account holders risk being implicated in serious crimes including drug trafficking, extortion, and terrorism financing.
newsweek.com
**"Pig butchering" scam operations run by ethnic Chinese criminal gangs in Southeast Asia defrauded Americans of at least $5 billion in 2024 (a 42% increase from 2023), with global losses estimated at $63.9 billion in 2023.** The U.S.-China Economic and Security Review Commission reports that Chinese government elements implicitly back these operations, which exploit thousands of human trafficking victims and have expanded to target wealthy countries like the U.S. after Chinese authorities cracked down on scams targeting Chinese citizens. The commission warns that without coordinated international action to raise awareness, equip law enforcement, and deter perpetrators
californiaglobe.com
In 2023, seniors lost an average of $33,000 each to online scams as part of a $159 billion total theft from Americans, with highly coordinated criminal networks—often operating from Southeast Asia—using tactics like romance scams, phishing, and imposter calls to manipulate older adults. The Golden Years Policy Council argues this represents a public safety and national security crisis requiring coordinated government response, including establishment of an interagency taskforce, increased law enforcement funding and tools to dismantle scam networks, and a centralized victim reporting system to track the problem's true scale.
dayakdaily.com
A retired businessman in his 70s in Sibu, Sarawak lost over RM800,000 to a fake online investment scheme called "GVD Coins" after discovering it on Facebook in mid-June 2025; despite warnings from family, he made multiple transactions to the scammer's bank account and received no returns. Sarawak Police Commissioner Dato Mancha Ata warned the public to verify investment legitimacy through official sources such as Bank Negara Malaysia and the Securities Commission Malaysia, and urged recent victims to contact the National Scam Response Center at 997.
wvnews.com
Seniors aged 60 and older face significant financial fraud threats, prompting the U.S. Department of Justice's Elder Justice Initiative to coordinate education and prevention efforts. Common scams targeting older adults include Social Security impostor scams (using caller ID spoofing to demand fund transfers to gift cards), tech support scams (requesting remote device access and fabricating charges), lottery scams (claiming foreign winnings while requesting fees), and romance scams (exploiting dating platforms to solicit money). Additional resources on these scams are available through the Justice Department's elder justice website.
aol.com
Romance scams exploit emotional vulnerability and trust, with the FTC reporting at least 70,000 cases annually resulting in approximately $1.3 billion in losses. Common tactics include catfishing (using fake profiles and personas), military impersonation scams, oil rig worker schemes, and sugar daddy/mama cons—all designed to build trust before requesting money or sensitive information from victims. The article provides educational guidance on recognizing these scam variations to help people protect themselves when online dating.
theconversation.com
This research study examines harms experienced by LGBTQ+ users on dating apps, finding that participants encounter sexual harassment, emotional abuse, discrimination, catfishing, sextortion, and romance scams. Specific vulnerabilities include trans and non-binary users facing slurs and death threats, racialized users experiencing racist fetishization, and younger users being coerced into sexual acts by older users, with some reporting sexual assault or being drugged during in-person meetings. The study recommends safety strategies including identity verification through video calls and social media checks before meeting in person.
dakotanewsnetwork.com
North Dakota residents experienced the highest per-capita losses from romance scams and confidence fraud in the nation between 2021 and 2024, totaling over $16 million. Authorities attribute the vulnerability to limited fraud awareness, particularly among residents in isolated areas.
whbl.com
Winnebago and Sheboygan County Sheriff offices are warning residents about two prevalent scams: romance scams involving fake online relationships that move to messaging apps and request money via Bitcoin or gift cards, and spoofed phone calls impersonating the Sheriff's office demanding payment for alleged fines or missed jury duty. Both scams exploit technology to appear legitimate while targeting victims' finances through cryptocurrency and gift card payments.
wrdw.com
Military families lost $584 million to scams in 2024, a $100 million increase from 2023, according to the Federal Trade Commission, with scammers targeting service members and veterans for their stable pensions and financial assets. Common schemes include the "update your file" scam (requesting personal information via calls, texts, or emails), PCS rental fraud (fake military housing listings demanding upfront deposits), and predatory lending offers targeting military members with unusually favorable terms that hide high interest rates and fees. The U.S. Postal Inspection Service partnered with AARP to launch Operation Protect Veterans, a crime prevention program providing education on recognizing and avoiding these scams.
mk.co.kr
Nineteen Korean members of an international romance scam operation were arrested in Pattaya, Thailand on the 21st following a joint raid by Korean and Thai police at a pool villa complex. The organized crime ring operated from the villa using dozens of computers to execute romance scams and voice phishing schemes, with members assigned specific roles in the fraud operation. Korean authorities dispatched an investigation team to analyze the electronic devices and evidence on-site, and are coordinating with Thai officials to repatriate the suspects and develop joint countermeasures against Southeast Asia-based international organized crime.
news.outsourceaccelerator.com
The Philippine Bureau of Immigration warns that Filipino workers are being targeted by fake overseas call center job scams that actually operate as human trafficking schemes, forcing victims to impersonate romantic partners on dating apps to defraud users into cryptocurrency investments. Authorities have intercepted hundreds of Filipinos at borders and rescued victims including a 24-year-old man who was forced to work as a "love scammer" in Cambodia while facing physical intimidation from Chinese employers. The government advises citizens to verify employment opportunities through trusted sources, avoid sharing personal information early, and report suspicious job offers to authorities.
northfortynews.com
The Larimer County Sheriff's Office issued a public alert about a surge in fraud targeting Northern Colorado residents, particularly seniors and small business owners, including romance scams, bank impersonation, fake government texts (DMV, law enforcement), and business invoice schemes that pressure victims to pay via Bitcoin, gift cards, or money apps. Common red flags include unsolicited requests for personal information, urgent threats, and payment demands via untraceable methods, with victims urged to verify requests directly with official sources and report fraud to law enforcement and agencies like the FTC and IdentityTheft.gov.
abc.net.au
Perth grandmother Donna Nelson was sentenced to six years in prison by a Japanese court in December for importing two kilograms of methamphetamine, which she claims she was tricked into carrying through an elaborate romance scam where an online boyfriend convinced her the bag contained fashion samples. Her legal team is appealing the conviction with expert testimony on romance scams, with a hearing scheduled to determine if the case will be re-examined.
livemint.com
A Belgian man drove 472 miles to meet French model Sophie Vouzelaud after being romantically deceived online, only to be confronted by her actual husband at her door. The victim had sent approximately $35,000 to someone impersonating Vouzelaud over the course of their online "relationship," a classic romance scam that exploited his emotional vulnerability. Vouzelaud subsequently warned her followers on Instagram about fake accounts using her identity and images, highlighting the risks of online romance fraud.
mirror.co.uk
A 76-year-old Belgian pensioner was catfished into believing he was in a romantic relationship with beauty queen Sophie Vouzeland and traveled 500 miles to her home in France, where he was confronted by her actual husband. The victim had sent £25,000 to the scammer posing as Vouzeland over WhatsApp before discovering the fraud. The real Sophie and her husband posted the encounter on social media to raise awareness about romance scams and fake accounts.
newsmeter.in
Digital arrest scams in Hyderabad decreased by over 75% in the first half of 2025 (34 cases) compared to the same period in 2024 (140 cases), attributed to increased public awareness efforts. Senior citizens aged 60-80, particularly retired professionals with children abroad, remain primary targets of these scams, where fraudsters impersonate law enforcement officers and coerce victims to liquidate assets through psychological manipulation and threats of arrest. Recent cases included an 84-year-old man defrauded of Rs 44 lakh and a 69-year-old woman defrauded of Rs 38.7 lakh, with police adv
kelly.senate.gov
Arizona Senator Mark Kelly led a bipartisan Senate effort urging federal agencies to coordinate against transnational criminal networks operating "scam labor camps" in Southeast Asia and elsewhere that traffic or coerce individuals into defrauding older Americans. According to the FBI, Americans over 60 lost more than $3.4 billion to online scams in 2023—an 80% increase in two years—through tactics including tech support scams, cryptocurrency fraud, romance scams, and government impersonation. The lawmakers requested that the Secret Service, State Department, and Treasury Department enhance international law enforcement partnerships, dismantle trafficking operations, strengthen public awareness campaigns, and improve interagency coordination while reporting back by July
yahoo.com
A 76-year-old Belgian widower traveled 500 miles to meet French beauty queen Sophie Vouzelaud after weeks of WhatsApp conversations, only to discover he was the victim of a romance scam and had sent £25,000 to a fraudster using a fake account impersonating her. The man showed up at Vouzelaud's home where her husband Fabien revealed the truth, and the incident was posted on social media as a warning about the dangers of romance scams and fake social media accounts.
lasvegassun.com
This opinion piece advocates for the bipartisan TRAPS Act (Task Force for Recognizing and Averting Payment Scams) to combat the surge in digital fraud, which cost Americans $12.5 billion in losses across 2.6 million fraud reports last year—a 25% increase from the previous year. The author, a former law enforcement executive, argues that payment scams disproportionately target older adults through romance schemes, fake investments, and AI-generated impersonation calls, and that the current fragmented approach leaves victims bouncing between agencies without effective coordination. The proposed legislation would unite the Treasury Department, FTC, Justice Department, FCC, and financial industry leaders
nypost.com
A Belgian man named Michel lost $35,000 in a romance scam after being catfished by someone impersonating French model Sophie Vouzelaud online; he drove 472 miles to meet his "future wife" only to be confronted by her actual husband, Fabien Boutamine, at her home. The scammer had posed as Vouzelaud on fake social media accounts and fabricated stories including a false pregnancy to manipulate Michel emotionally. Vouzelaud advised Michel to report the fraud to police and preserve all evidence, though it is unclear if a report was filed.
bbc.com
A 76-year-old Belgian widower traveled 760km to France after falling victim to a romance scam, believing he was in a relationship with French beauty queen Sophie Vouzelaud and having paid €30,000 to scammers over several weeks of WhatsApp communication. He arrived at Vouzelaud's home only to be met by her actual husband, who explained the deception and encouraged him to report the fraud to police. The article also outlines common warning signs of romance fraud and provides advice for avoiding and supporting victims of such scams.
globalnews.ca
Jeffrey Kent, a romance fraudster, was designated a dangerous offender in June 2024 after defrauding five Alberta women of thousands of dollars (ranging from a few thousand to $300,000) over 1.5 years by posing as wealthy professionals and fabricating health crises like brain cancer to manipulate them. Kent's lawyer has filed a notice of appeal challenging the dangerous offender designation and indeterminate sentence, arguing that non-violent fraud should not qualify as a serious personal injury offense, though the judge determined his victims suffered severe psychological harm including depression and suicidal ideation.
cbc.ca
Jeffrey Paul Kent, a 55-year-old Alberta serial romance scammer, defrauded five women of thousands of dollars between 2016-2017 by posing as wealthy professionals, faking illnesses like brain cancer, and manipulating victims into financial and emotional relationships, with one victim left with a $300,000 debt. In June 2023, an Edmonton judge designated Kent as a dangerous offender with an indeterminate sentence, finding that his elaborate schemes caused serious psychological harm including depression, shame, and suicidal ideation; Kent's lawyer is now appealing the designation, arguing it sets an unprecedented precedent for non-violent fraud cases.
theglobeandmail.com
Jeffrey Kent, a serial romance fraudster from Alberta, defrauded five women of thousands of dollars between 2016-2017 by fabricating elaborate personas (lawyer, doctor, businessman), faking illnesses like brain cancer, and manipulating victims into real estate investments and credit card use, leaving one woman with a $300,000 debt. An Edmonton judge designated him a dangerous offender with an indeterminate sentence in June 2023, citing severe psychological harm to victims including depression and suicidal ideation; Kent's lawyer has since filed an appeal challenging both the dangerous offender classification and the sentencing. Kent has a history of similar fraud convictions dating back to the 1990s
manchestereveningnews.co.uk
An Asda security guard in Northern Ireland identified 10-15 potential romance scam victims over six months, where fraudsters impersonate celebrities or romantic interests on social media to manipulate victims into purchasing gift cards and sharing the barcodes. The guard intervened in cases involving hundreds of pounds in losses, successfully helping one customer recover £1,000 through police involvement and preventing another from losing £750, highlighting how this scam has become increasingly common in retail settings.
intelligentcio.com
Tucoemas Federal Credit Union partnered with Carefull, an AI-powered financial safety platform, to provide real-time fraud detection and elder exploitation prevention for its older members and their families. The partnership enhances Tucoemas' existing PrimeTimers program by offering suspicious transaction monitoring, credit activity alerts, a secure document vault, scam analysis tools, and $1 million in identity theft insurance to help protect against the growing threat of elder financial abuse. This initiative reflects Tucoemas' commitment to serving California's rapidly growing population of adults over 65 with proactive financial security and family involvement in fraud prevention.
the-independent.com
In early 2025, Chinese actor Wang Xing was abducted after being lured to Thailand under false pretenses and taken to a scam operation in Myanmar, sparking widespread panic about fraud on Chinese social media; Thai police rescued him within three days after he reported being forced into training for "pig butchering" scams. Pig butchering scams, operated by organized crime groups primarily since 2019, involve criminals building trust with victims online before manipulating them into making large fraudulent investments, with victims losing billions globally—including a U.S. banker who embezzled $47 million to cover losses from such a scam, and a Connecticut woman who lost nearly $1
justice.gov
A 42-year-old Chinese national, Zhigang Lian, was indicted for allegedly orchestrating an imposter scam that defrauded a 76-year-old Belleville, Illinois resident of over $70,000. The scheme began with a fake Apple text message, then escalated when scammers posing as federal agents convinced the victim their identity had been stolen and they needed to withdraw all their bank funds for protection; the victim handed over $25,000 on June 17 and $45,000 on July 1 before Lian's arrest by Illinois State Police. Lian faces charges of conspiracy to commit wire fraud and wire fraud, each carrying
tillamookheadlightherald.com
An Eastern Oregon woman lost $600,000 in life savings to a "gold bar scam" in which scammers impersonated federal agents, claimed her accounts were at risk, and convinced her to purchase gold bars for "safekeeping"; local law enforcement prevented an additional $300,000 loss after her sister reported the scheme to the Oregon Department of Justice Consumer Hotline. The scam typically involves fraudsters creating false urgency about compromised finances, instructing victims to convert assets into gold, and dispatching couriers to collect the valuables before disappearing. The Oregon DOJ warns that no legitimate government agency requests gold purchases or home visits for money collection, and urges victims to hang up
observernews.net
A man living in an assisted living facility was scammed out of over $800,000 in a romance fraud scheme that began in 2022 when a scammer posing as a woman on social media built a romantic relationship with him, then convinced him to invest in a fake cryptocurrency broker account. The perpetrator, 37-year-old Otiz Swinton Jr., a convicted felon with a prior history of targeting elderly residents, was arrested in May and now faces 20 pending charges with sentences of 5-30 years each. Romance scams cause lasting emotional and financial devastation to victims, often involving their entire life savings built over decades.
iberianlawyer.com
Gary Miller, founder of the International Fraud Group, discusses how fraud investigations and asset recovery operate globally, emphasizing that nearly all scams begin with exploitation of trust. Miller identifies romance and investment scams via social media as the most difficult frauds to combat today, as victims readily believe deceptive messages on trusted platforms without verification, and stresses that effective fraud prevention requires speed, cross-border coordination, and psychological understanding alongside legal expertise.
anz.com.au
Australian bank ANZ reports measurable improvements in scam detection through its partnership with BioCatch Trust, an inter-bank fraud intelligence network that uses behavioral biometrics and real-time risk scoring to identify sophisticated scams including impersonation, investment, romance, and business email compromise schemes. In 2024-2025, Australians lost over $2.03 billion to scams, with romance scams averaging AU$15,000 per victim and investment scams causing AU$59 million in losses; the BioCatch integration has enhanced detection of complex fraud while reducing false positives that inconvenience legitimate customers.
wjournalpr.com
In 2024, older adults aged 60 and over suffered $4.9 billion in fraud losses nationally—a 43% increase from 2023—with Puerto Rico experiencing a dramatic 618% surge to $21.1 million in losses for the same demographic. The most financially damaging scams targeting seniors include investment fraud ($1.8 billion), tech support scams ($982 million), and romance scams ($389 million), with experts noting that perpetrators operate as sophisticated, organized call centers using psychological manipulation rather than amateur schemes. Seniors remain vulnerable due to a combination of limited digital literacy, available financial resources, social isolation, and reluctance to report crimes, particularly when perpet
crescentavalleyweekly.com
The FBI and FTC are warning the public about evolving scams that exploit advancing technology, including AI-generated voice impersonations of law enforcement and government officials. Elderly Americans are particularly vulnerable to romance scams, tech support scams, grandparent scams, government impersonation scams, sweepstakes scams, and home repair scams, with millions falling victim annually. The agencies also warn against business email compromise, charity fraud (especially after disasters), cryptocurrency job scams, VA benefits overpayment scams, and card skimmers, recommending victims verify charitable organizations through trusted databases and use credit cards rather than cash, gift cards, or wire transfers for donations.
theweeklyjournal.com
In 2024, older adults aged 60 and above reported $4.9 billion in fraud losses nationally—a 43% increase from 2023—with Puerto Rico experiencing a particularly sharp 618% rise to $21.1 million. The most costly schemes targeting seniors include investment fraud ($1.8 billion), tech support scams ($982 million), and romance scams ($389 million), which are considered especially dangerous due to their psychological manipulation tactics and emotional impact on victims. Experts attribute seniors' vulnerability to a combination of factors including the digital divide, lack of technical knowledge, availability of financial resources, social isolation, and the highly sophisticated, professional nature of modern fraud operations that use