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Search across 19,276 articles about elder fraud. Filter by fraud type, payment mechanism, or keywords.
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investopedia.com
· 2025-12-08
A 74-year-old Ohio woman with no criminal history, Ann Mayers, robbed a credit union at gunpoint in April 2024 after losing her life savings to an online scam in which a fraudster posing as a U.S. Customs official convinced her to send thousands of dollars; she also borrowed $65,000 from a friend to cover what she believed were legitimate fees. Mayers was arrested within two hours, confessed immediately, and was sentenced to 4–5.5 years in prison after pleading guilty, highlighting how financial fraud can drive vulnerable individuals to desperate and criminal actions.
cbsnews.com
· 2025-12-08
James and Maureen Wilson of Baltimore County were sentenced to 12 and 4 years in prison, respectively, after defrauding insurance companies of over $20 million through a 25-year scheme involving more than 40 fraudulent life insurance policies and money laundering across multiple accounts and trusts. The couple was ordered to pay $16 million in restitution to victims, $2.7 million to the U.S., and forfeit nearly $14.8 million. The case highlights a broader problem in Maryland, where the FBI reported that over 3,200 residents over 60 lost $80 million to scams in 2024.
hollywoodreporter.com
· 2025-12-08
A 73-year-old woman in the rural South lost approximately $100,000 in bitcoin to scammers impersonating actor Kevin Costner over several months, luring her with romantic messages and promises of a production company job before standing her up at a hotel meeting. The scam is part of a larger billion-dollar celebrity impersonation scheme that exploits lonely victims through AI-generated deepfakes, fake messaging accounts, and social media, prompting Hollywood to pursue legislation like the "No Fakes Act" to protect artists' likenesses and voices from unauthorized use.
channelnewsasia.com
· 2025-12-08
"Revenge on Gold Diggers," a Chinese interactive video game released in June, became a commercial hit by simulating pig-butchering love scams where players protect themselves from women who manipulate men for money, selling over one million copies. The game sparked intense debate in China, with supporters praising its anti-fraud educational value amid rising scam concerns (40,000 telecom fraud cases in 2024), while critics condemned it for reinforcing misogynistic stereotypes and portraying women as inherent schemers rather than addressing systemic vulnerabilities in relationships. The developers changed the Chinese title to "Emotional Anti-Fraud Simulator" but maintained the English title remained "
capeargus.co.za
· 2025-12-08
Cybercriminals deliberately target adults 65 and older through socio-economic crimes like romance fraud, fake investments, and phishing, exploiting age-based stereotypes and vulnerabilities such as memory issues, social isolation, and limited digital confidence. A research study by Dr. Suleman Lazarus and colleagues emphasizes that recognizing "ageism in cybercrime"—where older adults are purposefully targeted because they are perceived as easier to deceive—is essential to building effective defenses. Better awareness, clearer guidance, and stronger support systems are needed to protect older adults online, as the issue stems not from lack of money but from lack of confidence navigating digital financial systems.
ainvest.com
· 2025-12-08
The US Department of Justice announced a new cryptocurrency enforcement strategy prioritizing prosecution of direct criminal activities involving digital assets rather than intermediaries, marking a significant policy shift under Deputy Attorney General Todd Blanche. The DOJ's Criminal Division will focus on fraud areas including elder fraud, securities fraud, and healthcare fraud, with recent investigations yielding over $245 million in seized assets including cash, cryptocurrency, and luxury vehicles. This realignment reflects broader concerns about privacy-centric cryptocurrencies and coordination with banking regulators to combat illicit crypto activities and protect financial system stability.
ktvz.com
· 2025-12-08
James and Maureen Wilson of Baltimore County were sentenced to 12 and 4 years in prison, respectively, for operating a 25-year insurance fraud and money laundering scheme that defrauded insurance companies and investors of over $20 million. The couple opened more than 40 fraudulent life insurance policies, laundered proceeds through multiple bank accounts and trusts, and failed to report approximately $7.7 million in income on tax returns; they were ordered to pay $16 million in restitution and forfeit nearly $14.8 million.
police.tas.gov.au
· 2025-12-08
Tasmania Police contacted 15 Tasmanians who lost a combined $2.5 million to scams involving cryptocurrency ATMs (CATMs), with approximately $900,000 deposited directly to these machines. Investigation found all top cryptocurrency ATM users in the state were involved in scams—primarily romance and investment fraud—where victims were directed to CATMs after banks blocked suspicious transfers. Police advise recognizing warning signs including pressure tactics, promises of high returns, and requests to deposit cash to CATMs from unknown individuals, and recommend reporting incidents to police and Scamwatch.
ca.news.yahoo.com
· 2025-12-08
Richmond RCMP warns the public about a growing threat of investment scams that have cost residents millions of dollars, highlighting three common tactics: promises of high returns with little risk, offers of exclusive "insider information," and high-pressure time-limited offers. Scammers use various channels including social media, dating apps, and phone calls to build trust before presenting fraudulent schemes, and a recent variation involves imposters posing as bank employees to steal debit cards. Victims are urged to report suspected fraud to police immediately and contact the Canadian Anti-Fraud Centre at 1-888-495-8501 to help track scam patterns.
pulsetasmania.com.au
· 2025-12-08
Victims of romance and investment scams deposited over $2.5 million into cryptocurrency ATMs across Tasmania, with individual losses averaging $165,000 and one victim losing more than $750,000. The majority of victims were around 65 years old and were targeted through fake relationships or schemes promising 30-40% returns, with scammers using phone calls, social media, and encrypted messaging to manipulate, threaten, and intimidate victims into making deposits. Police warn that crypto ATM deposits are nearly impossible to recover once sent, and the Australian government is implementing deposit limits of $5,000 per transaction to help prevent such scams.
pulse.com.gh
· 2025-12-08
Romance fraud (catfishing) is a widespread global scam targeting people's need for connection, with the United States experiencing the highest losses at $1.14-$1.3 billion annually, followed by the United Kingdom ($95 million in 2023), Canada ($50+ million reported), Australia ($40.6 million in 2022), and Denmark. Victims often delay reporting due to shame and embarrassment, meaning actual losses are likely far higher than documented figures, with older adults and those aged 50-59 particularly vulnerable to these elaborate deceptions.
mitrade.com
· 2025-12-08
An Indian civil contractor lost INR 1.67 crore ($200,000) after being scammed through WhatsApp by a woman posing as a potential bride who claimed to work for a cryptocurrency trading company in Singapore. The victim made multiple deposits between April and June after seeing initial profits of INR 8,300, but the fake app locked his wallet when he attempted withdrawal and demanded an additional INR 25 lakh to release funds. Cyberabad Police registered a case and are investigating multiple bank accounts and phone numbers connected to the scam, with authorities warning that social platforms are increasingly being exploited by cybercriminals.
elmoreautauganews.com
· 2025-12-08
The Central Alabama Aging Consortium's Ombudsman Program held its annual Elder Justice Fraud and Caregiver Conference on July 17 to educate professionals and caregivers about identifying and preventing elder abuse and fraud. Over 1,200 Alabama seniors report being victims of elder fraud annually, resulting in losses exceeding $17 million per year, with 10% of seniors nationwide experiencing fraud victimization yearly. The conference featured experts in financial exploitation, elder law, and protective services who provided tools and resources for professionals to assist fraud victims and prevent future incidents.
cointelegraph.com
· 2025-12-08
In 2025, five men operating across multiple countries orchestrated a sophisticated cryptocurrency romance scam that defrauded over 400 American victims of more than $225 million. The scheme began with romantic messages on dating apps, progressed to fake investment tips and trading platforms showing fabricated gains, and culminated in international money laundering through shell companies, fake crypto businesses, and Tether stablecoin transfers routed through Cambodia. The DOJ charged the conspirators and moved to seize the stolen crypto, highlighting how romance scams (also called "pig butchering" scams) represent the most prominent category of crypto fraud, with Americans losing $5.6 billion to crypto scams
yahoo.com
· 2025-12-08
**Romance Scam - Montana Case**
A Montana woman identified as Rita lost over $90,000 in an online romance scam in 2024 after being targeted by a scammer posing as a celebrity while she was vulnerable during a divorce. The perpetrator built emotional trust before requesting money via Bitcoin, isolating Rita from her support network until she eventually recognized the deception. Rita's case reflects a broader crisis: Americans lost $1.14 billion to romance scams in 2023 across 64,000+ reported cases, with victims over 60 suffering $389 million in losses, and Montana alone reporting 44 victims losing $2.2 million
nzz.ch
· 2025-12-08
Professional scammers based in Southeast Asia, particularly in the Philippines, operate organized "pig butchering" romance scams that target lonely men on dating apps, using fake identities and fraudulent cryptocurrency investment schemes to steal entire savings. These industrial-scale fraud centers, which expanded during the COVID-19 pandemic and often involve forced labor, emotionally manipulate victims by building trust through small early profits before extracting large sums. One victim, a 29-year-old Swiss man, lost all his savings within two weeks of matching with a fake profile, illustrating how the scheme exploits emotional vulnerability rather than outright naivety.
mcknightsseniorliving.com
· 2025-12-08
Older adults lost nearly $5 billion to fraud and scams in 2024, with losses increasing 41% from $3.4 billion in 2023 and average individual losses reaching $83,000, according to a U.S. Senate Special Committee on Aging report. The report highlights an alarming rise in AI-powered schemes and traditional fraud methods including imposter scams, investment fraud, healthcare scams, and gift card fraud, with cryptocurrency losses alone reaching nearly $3 billion. The number of older adults reporting fraud jumped 43% in 2024, prompting calls for increased federal protection and consumer education initiatives.
kdhlradio.com
· 2025-12-08
A gold investment scam has resurfaced in Platteville, Wisconsin, targeting elderly residents by impersonating government employees who claim victims have arrest warrants and can settle them by purchasing gold. At least two people have fallen victim to this scheme, which instructs targets to withdraw large sums of money, purchase gold from local dealers, and hand it over to a supposed intermediary who never returns. The Platteville Police Department warns residents to educate elderly family members about this fraud, as scammers use urgency and panic tactics to manipulate vulnerable populations.
ainvest.com
· 2025-12-08
This article is primarily an investment newsletter discussing financial literacy trends and opportunities rather than reporting on elder fraud cases. However, it notes that elder financial exploitation constitutes a $3 billion annual problem by 2025, prompting innovations like "trusted contact alerts" from the FDIC and CFPB that allow seniors to designate family members to verify suspicious transactions. The piece also warns that 40% of retail investors fell victim to AI-driven algorithmic scams in 2025, and recommends investors support fraud prevention technology and inclusive financial services to address these emerging risks.
devdiscourse.com
· 2025-12-08
A 2025 study published in Security Journal reveals that cybercriminals strategically exploit ageism and socioeconomic vulnerabilities to defraud seniors, with the global population aged 65+ projected to reach 1.6 billion by 2050. The research identifies that older adults face increased risk due to cognitive decline, social isolation, financial insecurity, and high institutional trust, while cybercriminals target both wealthy and low-income seniors through tech support fraud, romance scams, and fake investment schemes. The authors recommend structural reforms including redesigned digital policy frameworks, tailored cybersecurity education, and adoption of classification systems that distinguish crimes by socioeconomic motivation to better protect an
govtech.com
· 2025-12-08
This article highlights the prevalence of cryptocurrency scams targeting investors, despite rising Bitcoin prices and mainstream crypto adoption. Recent cases include a $650 million OmegaPro multi-level marketing scheme promising 300% returns, a Chicago-area veteran defrauded of $10,000 by an Elon Musk impersonator, and a Secret Service operation that seized nearly $400 million in crypto assets stolen through various scams. The article warns that scammers exploit legitimate market enthusiasm and media coverage to lure victims into fraudulent investment platforms that vanish with deposits once initial profits are shown.
observer.co.uk
· 2025-12-08
Fraud has evolved from rare, high-profile crimes into a pervasive problem affecting all age groups, with the UK experiencing 4.1 million fraud incidents in the year ending 2024—a 33% increase from the previous year—and identity fraud alone costing the nation approximately £1.8 billion annually. Contrary to stereotypes, younger people (18-24) are slightly more vulnerable than seniors, likely due to greater online activity, though common fraud types now include identity theft, purchase scams, authorized push payments, and romance scams. Modern criminals exploit technological advantages including malware, cryptocurrencies, AI deepfakes, and organized "scam factories" operating
straitstimes.com
· 2025-12-08
Singapore police investigated 536 people for their suspected involvement in scams and unlicensed moneylending activities totaling over $12.2 million in losses during a June 30-July 11 enforcement operation by the Bedok Police Division. Of those under investigation, 391 suspects were linked to more than 2,400 cases including e-commerce, investment, job, rental, and phishing scams, while 145 were implicated in loan scams and unlicensed moneylending involving over $250,000. The operation resulted in 36 arrests, with the suspects ranging in age from 16 to 81 years old.
livebitcoinnews.com
· 2025-12-08
Indian police arrested 26-year-old Harshik Mukeshbhai Patel from Gujarat for operating a fake cryptocurrency website that defrauded traders of approximately Rs. 1.5 crore ($180,000) in 2023. The fraudulent site cloned legitimate crypto exchanges and promised returns of 10-25% within days, causing multiple investors to lose their savings before money was funneled through various bank accounts. Investigators believe Patel is part of a larger organized scam network and are continuing to identify other members involved in similar cryptocurrency fraud schemes operating in India.
ainvest.com
· 2025-12-08
Tasmanian Police uncovered a sophisticated cryptocurrency ATM scam targeting elderly residents, resulting in $1.6 million in losses ($592,000 through crypto ATMs). Scammers manipulated seniors through romance and investment schemes, convincing them to deposit cash into ATMs where it was converted to cryptocurrency and transferred to untraceable wallets. In response, authorities are implementing stricter regulatory measures on crypto ATMs and launching public awareness campaigns, while Detective Sergeant Paul Turner advises victims to verify identities through trusted sources before any financial transactions involving cryptocurrency.
cyprus-mail.com
· 2025-12-08
Since early 2025, Cyprus has experienced a surge in cyber fraud cases, including a Limassol man who lost €56,283 to a cryptocurrency investment scam and a 55-year-old woman who lost €230 to a phishing email impersonating Etsy. Scammers employ sophisticated tactics such as impersonating government officials, creating fake websites, and using urgent messaging with links to fraudulent sites, while exact figures on total reported scams remain unavailable from police. Experts advise the public to recognize warning signs including urgency, spelling errors, requests for personal information, and unfamiliar senders, though vigilance alone provides only partial protection against increasingly professional frau
nar.realtor
· 2025-12-08
More than 60 real estate agents nationwide have lost a combined $15 million in "pig butchering" cryptocurrency scams, where fraudsters build trust with agents through social media or text, pose as clients or financial advisors, and gradually coax them into investing on fraudulent crypto platforms before disappearing with the funds. The scams often exploit agents' access to MLS databases and their familiarity with large financial transactions, with victims like Tennessee agent Teri Radcliff losing over $200,000 and a North Carolina agent's family losing $815,000. The perpetrators frequently use deepfakes or video impersonation and withdraw victims' money through fake platforms before requesting additional security
malwarebytes.com
· 2025-12-08
Researchers uncovered a large-scale international investment scam operation using 17,000 fake news websites impersonating major outlets like CNN, BBC, and ABC News across 50 countries, with the US being the primary target. The scam operates by buying social media ads featuring local celebrities, directing users to counterfeit news sites that promote fake investment platforms (such as Eclipse Earn and Solara Vynex), collecting personal information, and pressuring victims to deposit money that appears to grow on fraudulent trading platforms before disappearing along with the "friendly advisor" when victims attempt withdrawal. Key protective measures include verifying platform legitimacy through official regulators, avoiding unsolicited links, checking for red flags like
christianitytoday.com
· 2025-12-08
Edwin Brant Frost IV, a prominent Christian conservative and former political operative, allegedly ran a $140 million Ponzi scheme through First Liberty Building and Loan, which promised investors 8-18 percent returns on bridge loans for small businesses but instead used incoming investor funds to pay earlier investors and finance personal expenses including rare coins, vacations, and jewelry. Over more than a decade, approximately 300 investors—many attracted through conservative Christian podcasts and radio endorsements—invested at least $25,000 each, with some losing their life savings; the SEC investigation found that while some money did go to small businesses, most ultimately benefited Frost and his family rather than supporting the promised economic opportunities
marinij.com
· 2025-12-08
A Fresno man named Jasvir Singh scammed a Sausalito elderly resident out of $25,000 and attempted to obtain another $25,000 through an impersonation scheme involving fake representatives from Apple, Wells Fargo, and federal agencies. The victim was deceived into believing her bank account was compromised and handed cash to a courier; she was arrested after attempting a second payment and alerting police. Singh was booked on suspicion of embezzlement from an elderly person and obtaining money by false pretenses, with bail set at $50,000.
decripto.org
· 2025-12-08
Romance scams have evolved into sophisticated cryptocurrency frauds orchestrated through dating apps and fake investment platforms, with criminal networks embezzling at least USD 369 million from victims worldwide. The "pig butchering" scheme uses AI-generated identities and deepfakes to establish emotional connections on platforms like Tinder and WhatsApp, then directs victims to fraudulent crypto exchanges that convert deposits to USDT and route funds to scam factories in Cambodia. Predominantly targeting men aged 35-60, these operations generated over USD 10 billion in losses in 2024, with individual victims reporting losses ranging from AUD 30,000 to 90,000.
theconversation.com
· 2025-12-08
A Chinese actor named Wang Xing was abducted in Thailand and taken to a scam compound in Myanmar in early 2025, sparking widespread concern about fraud operations in Southeast Asia. The incident highlighted the prevalence of "pig butchering" scams—a type of fraud where criminals build fake romantic or financial relationships with victims to manipulate them into large investments, with victims worldwide losing billions of dollars. These scams, typically run by organized crime groups, operate in three stages (hunting, raising, and killing) and can result in devastating financial losses, as exemplified by cases like a Connecticut woman who lost nearly $1 million and a Kansas banker who embezzled $47 million to cover
pulse.com.gh
· 2025-12-08
Romance fraud causes billions in annual losses globally, with the United States leading at $697.3 million lost by nearly 59,000 victims in 2024, followed by the United Kingdom (£106 million), Australia ($33 million), Canada ($25 million), and Germany ($20 million). These organized crime schemes use fake profiles, stolen images, and emotionally manipulative tactics to build trust with victims before requesting money, often targeting vulnerable individuals through dating apps and social media platforms. The COVID-19 pandemic accelerated romance scam prevalence as lockdowns drove millions online, and scammers increasingly overlap these schemes with other financial crimes such as fake investment and money laundering operations.
investor.gov
· 2025-12-08
This educational piece describes five common investment scams targeting investors: relationship investment scams (building trust through romance or friendship), advance fee fraud (demanding upfront payments before fund release), impersonation schemes (falsely claiming to be SEC officials or legitimate firms), and stock tip scams (promoting stocks on social media to artificially inflate prices). Scammers typically use social media and messaging apps to build trust, pressure victims into fraudulent investments or phony accounts, then steal funds or demand additional fees for supposed account access or loss recovery. Victims can report suspected investment scams to the SEC, FBI, FTC, state securities regulators, or state attorneys general.
phys.org
· 2025-12-08
"Pig butchering" scams are sophisticated fraud schemes operated by organized crime groups that have stolen billions globally, in which scammers build fake romantic or friendly relationships with victims online before pressuring them into fraudulent investments, typically over a few months rather than years. Notable victims include a Kansas banker who embezzled $47 million to cover his losses and a Connecticut woman who lost nearly $1 million in cryptocurrency investments, with scammers exploiting victims' desire for financial gain rather than solely relying on romantic manipulation. The scams operate in three stages—hunting for victims online, building trust, and executing the "kill" by pushing large financial commitments—and are typically run by highly organized criminal
theglobeandmail.com
· 2025-12-08
Footballer Jorginho partnered with secure messaging platform aOK to combat online abuse and romance scams through verified, non-anonymous user identification. The partnership addresses growing threats including online harassment of athletes (75% of sports federations report regular threats to athletes and their families), romance scams that cost victims $4.6 billion in 2023, and broader mental health concerns linked to online abuse, particularly among young users. aOK's invite-only platform with verification protocols aims to eliminate the anonymity that enables these crimes by ensuring all users interact with authenticated profiles.
mondaq.com
· 2025-12-08
The Department of Justice's Criminal Division has established three enforcement priorities—focus, fairness, and efficiency—to guide white-collar crime prosecution under the Trump administration. Elder fraud is explicitly identified as a priority alongside healthcare, securities, trade, and customs fraud, with prosecutors directed to target cases involving senior-level personnel, demonstrable losses, and victims' compensation. The Department aims to balance rigorous prosecution of significant threats to U.S. interests with fair application of the law that avoids punishing legitimate business risk-taking.
mercurynews.com
· 2025-12-08
A Fresno man was arrested after scamming an elderly Sausalito resident out of $25,000 and attempting to obtain another $25,000 through an impersonation fraud scheme. The scammers posed as representatives from Apple, Wells Fargo, and federal agencies, convincing the victim her bank account was compromised and instructing her to hand over cash to a courier; the victim alerted police when attempting to make a second payment, leading to the arrest of 35-year-old Jasvir Singh on charges of embezzlement from an elderly person and obtaining money by false pretenses.
dallasnews.com
· 2025-12-08
Texas ranks second nationally for internet crime losses, with residents experiencing $1.35 billion in losses in 2024—a $328 million increase from the previous year, according to the FBI. People over 60 experienced the highest financial losses, while Hispanic and Black communities are particularly vulnerable to targeted scams such as family impersonation, phishing, and fraudulent investment schemes. The article provides guidance on recognizing scams (offers that seem too good to be true, pressure to act quickly, requests for personal information, unusual payment methods) and prevention strategies (verifying identities through official channels, using strong passwords, registering with the Do Not Call Registry, and limiting personal information shared online).
pennlive.com
· 2025-12-08
A 44-year-old man from Brooklyn was charged with theft, impersonation of a federal employee, and conspiracy after stealing over $555,000 in gold bars from an elderly Lancaster County woman in April. The scammers accessed her computer, convinced her to convert investments to gold, then posed as federal employees to collect the bars under the guise of securing them in a Philadelphia Federal Reserve vault. This case reflects a national trend of gold bar scams targeting seniors, which cost Americans $219 million in 2024, with authorities advising victims to hang up immediately on any requests to buy gold or withdraw money and to verify claims directly with official sources.
newsbreak.com
· 2025-12-08
**Summary:**
Antonio Petrosino, 60, of Union City, New Jersey, was indicted on federal wire fraud and money laundering charges for defrauding elderly and other victims of over $1 million between January 2016 and November 2024. Petrosino posed as a financial advisor, soliciting investment funds under false pretenses while diverting the money for personal expenses including gambling and luxury apartment rent, and issued falsified account statements to conceal the scheme. He faces up to 20 years in prison on each of five wire fraud counts and 10 years on the money laundering charge.
dallasnews.com
· 2025-12-08
In 2024, seniors aged 65 and older reported nearly $4.9 billion in losses to financial scams—a 43% increase from the previous year—with Texas seniors alone filing over 9,473 complaints averaging $489,000 in losses each. Seniors are targeted because they control significant national wealth and often struggle to keep pace with technology, making them vulnerable to romance scams, tech support scams, grandparent scams, government impersonation, and investment fraud. Family members and caregivers can help protect seniors by monitoring account activity, maintaining open communication about financial matters, and encouraging consultation before large transactions, while laws like the 2017 Elder Abuse Prevention
countynewscenter.com
· 2025-12-08
Elder fraud represents a billion-dollar criminal enterprise that targets older adults through technology-based schemes, government impersonation, fraudulent investments, and fear-based tactics. San Diego County has developed a local anti-fraud initiative that has successfully prevented significant financial losses among seniors in the region.
chaincatcher.com
· 2025-12-08
ZachXBT alleged that BigONE, a centralized cryptocurrency exchange, has processed numerous transactions related to "pig butchering" scams, romance fraud, and investment schemes. The blockchain analyst expressed lack of sympathy for the exchange's team due to their handling of these illicit transactions.
sequimgazette.com
· 2025-12-08
This educational piece from a county sheriff outlines common scam tactics affecting communities nationwide, including phishing, imposter scams, investment fraud, romance scams, tech support scams, grandparent scams, and payment transfer schemes. The sheriff advises residents to verify sources independently, avoid urgent pressure to act, be cautious with untraceable payment methods, and report suspected fraud to the FTC, emphasizing that scammers exploit new technologies and crises to target vulnerable victims across all demographics.
idahocountyfreepress.com
· 2025-12-08
Romance and confidence fraud caused $601 million in damages to 16,504 victims across the United States in 2023, with an average loss of $36,459 per victim. Idaho was hit hardest, with 112 victims losing $6.9 million ($61,784 per person), while scammers posing as online pen pals or relatives in distress targeted victims primarily through email and social media. Elderly victims aged 60 and older comprised approximately 40% of victims and suffered $365.9 million in losses.
consumer.ftc.gov
· 2025-12-08
This educational piece warns about gold bar and cash transfer scams targeting potential victims through unexpected contact claiming to be government agents. Scammers falsely claim the victim's bank account, computer, or identity has been compromised and pressure them to purchase gold bars, transfer funds, or withdraw cash to hand to a courier as "protection." The article advises that legitimate government agencies never request these actions and provides warning signs to recognize and report such scams to the FTC.
alaskasnewssource.com
· 2025-12-08
The Better Business Bureau's 2024 Scam Tracker Risk Report identifies investment and cryptocurrency scams as the riskiest scams in North America, with a median loss of approximately $5,000 per person and often initiated through social media outreach. In Alaska alone, six investment scam reports totaled losses exceeding $74,457 in 2024. The report emphasizes that working with legitimate, fee-based financial advisors—who use standard stock markets, make no guaranteed returns, and wait for clients to approach them—significantly reduces fraud risk and improves wealth-building outcomes compared to falling for unsolicited investment opportunities.
bpi.com
· 2025-12-08
In 2024, consumers reported losing $12.5 billion to fraud—a 25 percent increase from the prior year—with phone/text scams accounting for $1.5 billion and social media scams for $1.9 billion in losses. Criminals use AI, spoofed calls, and hijacked social media accounts to target victims, with operations often based in Southeast Asia, while telecom and tech companies have financial incentives to monetize rather than prevent fraud. Banks and regulators are calling for stricter collaboration and regulation among tech giants and telecom providers to proactively combat scams at their source.
theweeklyjournal.com
· 2025-12-08
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