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pulse.com.gh
· 2025-12-08
Nigeria deported over 100 foreign cybercriminals (primarily Chinese and Filipino nationals) convicted of orchestrating romance and cryptocurrency investment scams that defrauded victims worldwide out of millions. The deportations, announced by Nigeria's Economic and Financial Crimes Commission, were part of a larger crackdown that arrested 792 suspected cybercriminals in Lagos in December, signaling the country's commitment to combating international fraud syndicates that exploit its infrastructure to target victims in North America and Europe.
adomonline.com
· 2025-12-08
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese, 39 Filipino, and 3 others) convicted of cyber-terrorism and internet fraud, with additional deportations of 51 more individuals occurring since mid-August. The deportations are part of a broader crackdown on online scam operations based in Nigeria that lure victims—primarily Americans, Canadians, Mexicans, and Europeans—through romance schemes and fake cryptocurrency investment opportunities. These sophisticated fraud operations, often involving foreign criminal syndicates exploiting Nigeria's weak cybersecurity infrastructure in collaboration with local accomplices, have left victims unable to recover savings, business capital, and borrowed funds.
cryptopolitan.com
· 2025-12-08
Nigeria's Economic and Financial Crimes Commission (EFCC) deported 102 foreign nationals (60 Chinese and 39 Filipino) convicted of cyber-terrorism and internet fraud, following their June conviction by federal high court and arrest in December 2024 after dismantling their operational base in Lagos. The deportations are part of intensified crackdowns on online scams, including fake cryptocurrency investment schemes like Crypto Bridge Exchange, which defrauded Nigerian victims of their entire savings and reportedly led to suicides. The EFCC, working with foreign criminal networks that recruit young Nigerian accomplices, continues identifying and shutting down scam hideouts while targeting victims primarily in the United States, Canada
graphic.com.gh
· 2025-12-08
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese and 39 Filipinos) convicted of cyber-terrorism and internet fraud, with additional deportations of 51 more individuals ongoing. The deportations are part of a broader crackdown on online scam operations based in Nigeria that use romance schemes and fake cryptocurrency investment offers to defraud victims—primarily Americans, Canadians, Mexicans, and Europeans—out of their savings and business capital. The scams involve foreign criminal syndicates recruiting Nigerian accomplices to conduct phishing attacks and convince victims to transfer money or reveal sensitive account information.
myjoyonline.com
· 2025-12-08
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese and 39 Filipinos) convicted of cyber-terrorism and internet fraud, with additional deportations of 51 more foreign nationals ongoing, following a December operation that arrested 792 suspected cybercriminals in Lagos. These foreign cybercrime syndicates, often working with Nigerian accomplices, targeted victims primarily in the United States, Canada, Mexico, and Europe through romance scams and fraudulent cryptocurrency investment schemes that deceived victims into transferring money or revealing sensitive financial information.
thestkittsnevisobserver.com
· 2025-12-08
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals, including 50 Chinese citizens, following a major sting operation that arrested 192 foreigners suspected of running a large-scale cybercrime syndicate involving internet fraud and "cyberterrorism." The crackdown, part of Operation "Eagle Flush," targeted organized groups running romance scams, sextortion schemes, and fake cryptocurrency investment frauds, representing the second major raid on foreign cybercriminals in less than a year.
centralnews.co.za
· 2025-12-08
DIRCO spokesperson Clayson Monyela warned South Africans against fake foreign job offers promoted on social media platforms like TikTok and Instagram, which are fronts for human trafficking networks that exploit victims through forced labor and illegal schemes. The warning follows multiple documented cases where South Africans were lured abroad with promises of jobs in Myanmar, Thailand, and Cambodia, only to be trapped in cyber-scam operations or forced labor with confiscated passports; DIRCO has successfully repatriated numerous victims but others remain missing. The scam particularly targets vulnerable young people and job seekers amid South Africa's high unemployment rates, and authorities recommend verifying offers through official channels such as embassies or
securityboulevard.com
· 2025-12-08
U.S. Rep. David Schweikert proposed the Scam Farms Marque and Reprisal Authorization Act in 2025, which would authorize the president to issue letters of marque to private "cyber privateers" to combat foreign cybercriminal organizations running romance scams, pig-butchering schemes, and ransomware attacks. The proposal targets Southeast Asian cyberscam farms (particularly in Laos, Myanmar, and Cambodia) that generate an estimated $40 billion annually and hold hundreds of thousands of enslaved workers, following reports that U.S. citizens lost $16 billion to scams in 2024, with seniors over 60 losing nearly
inkl.com
· 2025-12-08
Regulatory authorities are increasingly scrutinizing senior investment clubs due to a surge in fraudulent schemes, including pump-and-dump stock scams that specifically target vulnerable older adults through social media and messaging platforms. These clubs exploit seniors' trust in established networks (friends, church members, veterans) and lack of external oversight, leaving participants exposed to significant financial losses. Regulators emphasize that while investment clubs aren't inherently illegal, seniors should demand transparency, verify credentials, and seek outside perspectives before joining to protect their retirement savings.
ainvest.com
· 2025-12-08
This article covers multiple bank fraud cases prosecuted in 2025. Former Cathay Bank manager Weixin "Tony" Chen was indicted on charges of siphoning funds from customers' home equity lines and deposit accounts across Southern California branches, facing up to 30 years per count. The article also highlights the case of Jiaci Liu, a Chinese national sentenced to 24 months in federal prison for a sophisticated elder fraud scheme where he impersonated technical support and law enforcement to extract over $202,000 from elderly victims in Southern California and Arizona, including one victim who withdrew $28,000 after believing his computer was compromised.
hayspost.com
· 2025-12-08
Scammers posing as banks, government agencies, and businesses are increasingly targeting retirees by creating fake crises around account fraud, identity theft, or computer security to pressure victims into transferring money. According to a new FTC report, reported losses from business and government impostor scams among adults 60+ have surged dramatically, with losses exceeding $100,000 increasing nearly sevenfold between 2020 and 2024, with many victims losing tens or hundreds of thousands of dollars. The FTC advises never transferring money in response to unsolicited calls or messages, verifying requests through independently confirmed contact information, and remembering that legitimate government agencies never demand immediate money transfers
pbs.org
· 2025-12-08
Sophisticated criminal networks are using stolen identities to create "ghost students" and flood U.S. community college application systems to siphon millions in financial aid. The U.S. Department of Education has identified $150 million dispersed to ineligible students, including $30 million to deceased individuals, with victims including both colleges and people whose identities were stolen to fraudulently obtain student loans. These overseas fraud rings operating from countries like Pakistan, Bangladesh, and Vietnam target community colleges due to their open-access policies and also exploit .edu email addresses for additional fraud schemes involving discounts on software and services.
thestar.com.my
· 2025-12-08
A Pew Research Center survey of over 9,000 U.S. adults found that approximately 73% experienced at least one online scam or attack, with credit card fraud, shopping scams, and ransomware being most common; notably, adults aged 18-59 were 34% more likely than those 60+ to report losing money to fraud. Cybersecurity experts warn of emerging threats including unsolicited calendar invites containing phishing links or malware, and multi-factor authentication app attacks designed to wear down users into revealing personal information. Protection measures include adjusting calendar settings to prevent automatic invite updates, verifying suspicious invitations through direct contact with trusted sources, and ign
solomonstarnews.com
· 2025-12-08
A growing number of Solomon Islanders have fallen victim to online investment scams on platforms including Telegram and Video Earned, which promise quick returns through watching videos or recruiting referrals but trap users with withdrawal fees and frozen accounts. Victims reported earning $1,000-$2,000 USD in their accounts but were unable to withdraw funds without paying additional fees ($100+ USD), with some platforms disappearing entirely or blocking accounts once larger investments were made. Financial experts warn these schemes operate as unsustainable Ponzi-style operations that collapse when recruitment slows, and authorities are urging the public to verify credentials before investing.
brooklynda.org
· 2025-12-08
Two New Jersey brothers, Abhishek Barvalia (31) and Tushar Barvalia (32), were indicted in Brooklyn for allegedly defrauding four seniors aged 76 to 90 of approximately $400,000 between June 2023 and January 2024. The defendants posed as FBI agents, Microsoft representatives, and government officials, convincing victims their bank accounts were compromised and directing them to withdraw funds and transfer money to accounts the defendants controlled, while instructing victims to maintain secrecy. The defendants were charged with second-degree grand larceny, first-degree scheme to defraud, and fourth-degree conspiracy.
ktlo.com
· 2025-12-08
Baxter County, Arkansas is experiencing a rise in scams targeting residents, prompting local law enforcement to host a public call-in program with Sheriff John Montgomery to educate citizens on fraud prevention. The initiative follows recent arrests of three men accused of acting as "money mules" for overseas scam operations; common schemes affecting residents include government impersonation, tech support fraud, fake sweepstakes, romance scams, and home repair fraud using phishing emails, robocalls, and spoofed numbers.
anz.com.au
· 2025-12-08
ANZ Bank has successfully prevented thousands of fraudulent payments through its Confirmation of Payee (CoP) feature, which alerts customers when payment recipient details don't match bank records; since launch, 143,303 payments were abandoned by customers, with 10,040 going to accounts flagged on the Australian Financial Crimes Exchange. The bank emphasizes that combating scams requires collaboration between financial institutions, customers, and authorities, alongside technological innovations like the Digital Padlock feature and partnerships with fraud intelligence networks. Australia's coordinated approach has contributed to a 25.9% decrease in reported scam losses in 2024 compared to 2023, demonstrating that awareness and prevention strategies are
abc.net.au
· 2025-12-08
A study by the International Justice Mission documented 493 global cases of child sextortion linked to South-East Asian scam compounds along the Thai-Myanmar border and in Cambodia, where trafficked workers are forced to blackmail victims using intimate images or AI-generated content. The research cross-referenced US cyber tip line data from 2022-2024 with known scamming hub locations, finding that criminal networks are expanding beyond romance and cryptocurrency fraud to include sextortion tactics, with minors increasingly becoming victims despite not being deliberately targeted. Survivors reported that scammers pose as attractive individuals online, capture screenshots during video calls, and use them for extortion, while some perpetrators pose as telehealth
pulse.com.gh
· 2025-12-08
This educational article outlines eight categories of federal crimes that attract FBI investigation, ranging from terrorism and espionage to cybercrime, public corruption, civil rights violations, and organized crime. The piece provides examples of each category, such as the 2013 Boston Marathon bombers' online radicalization, the 2021 Colonial Pipeline ransomware attack, and the Equifax data breach affecting 147 million Americans. The article is designed to inform readers about activities—both intentional and unintentional—that could trigger FBI scrutiny beyond commonly known offenses like terrorism or organized crime.
theberkshireedge.com
· 2025-12-08
Adams Community Bank announced a partnership with Carefull, a financial safety platform, to offer free fraud and scam protection to its account holders, making ACB the first bank in Western Massachusetts to provide this service. The Carefull platform monitors accounts for unusual activity, detects romance scams and other financial exploitation, analyzes suspicious communications, and provides secure storage for important documents and records with $1 million identity theft insurance. This initiative reflects ACB's commitment to protecting seniors and their families as elder fraud cases continue to rise.
krtv.com
· 2025-12-08
"Gas station gold" scams are increasing in Montana, where con artists approach customers in parking lots and gas stations claiming financial hardship while selling fake jewelry marked as "18K" gold that is actually brass or copper. The scammers, who frequently travel between states and increasingly target elderly people, use deceptive pricing and counterfeit markings to deceive unsuspecting buyers. Experts advise consumers to be skeptical of deals offering gold significantly below market value and to have purchases verified by legitimate jewelers before completing transactions.
northernvirginiamag.com
· 2025-12-08
Fairfax County Police Department's Financial Crimes Unit warns that romance scams are increasing, with scammers building trust online before exploiting victims by requesting money or sensitive information. Common red flags include scammers avoiding in-person or video meetings, moving conversations to private messaging quickly, professing love without meeting, and creating urgent problems (medical, legal, financial) to solicit money. The department recommends verifying identities through reverse-image searches, keeping initial contact public, refusing all money requests, insisting on video calls, and consulting trusted friends before sending funds or information.
indianexpress.com
· 2025-12-08
A 78-year-old man in Noida lost Rs 3.14 crore in a "digital arrest" scam where criminals impersonating TRAI, police, CBI, and Supreme Court officials trapped him in fake video calls for 15 days, threatening him with money-laundering charges and forcing him to transfer funds to a fake "Secret Supervision Account." Cybercrimes against seniors have surged 86 percent between 2020 and 2022, with common scams including digital arrest, investment fraud, deepfakes, and government impersonation—schemes that exploit seniors' trust and vulnerability to urgency-based tactics through means they struggle to recognize
crimefightersng.com
· 2025-12-08
Daniel Chima Inweregbu, a 40-year-old Nigerian national, pleaded guilty on August 21, 2025, to operating a romance scam that defrauded American victims of over $405,000 between July 2017 and December 2018. Inweregbu and his co-conspirators created fake dating profiles under the alias "Larry Pham" to build romantic relationships with women, then exploited their trust to extract money, which they subsequently laundered through multiple transactions. He faces up to 20 years in prison on the fraud charge and an additional 20 years on money laundering charges, with sentencing scheduled for December 4,
time.com
· 2025-12-08
In February 2024, cybercriminals attempted to scam Tejasvi Manoj's 85-year-old grandfather through a fake email impersonating a relative requesting $2,000, but the scam was prevented when the family verified the request directly. Inspired by this near-miss and discovering that seniors lost nearly $5 billion to fraud in 2024 (a 32% increase from the prior year), the then-16-year-old Tejasvi developed Shield Seniors, a website educating adults over 60 about online scams, analyzing suspicious communications, and providing reporting resources. Her efforts earned her TIME's Kid of the Year 2025
decripto.org
· 2025-12-08
Decripto.org reports that online scams and crypto-fraud schemes—including fake trading, Ponzi schemes, romance scams, and recovery scams—are causing severe psychological and financial devastation to thousands of victims, many of whom are driven to despair in cases that remain unreported. Traditional criminal organizations are increasingly shifting from drug and arms trafficking to digital fraud due to its higher profitability and lower detection risk, enabled by low-cost infrastructure and AI technologies. The organization calls for immediate coordinated action from political leadership, law enforcement, and financial regulatory authorities to implement prevention strategies, digital education, specialized investigation units, and comprehensive victim support rather than allowing this crisis to continue unchecked.
forbes.com
· 2025-12-08
Imposter scams cost Americans $2.95 billion annually and rank as the second most costly fraud type, with scammers commonly posing as government agencies or law enforcement to demand immediate payment or personal information. Russell Tafron Weatherspoon was convicted of operating a multistate scam (March 2022–April 2024) where he and accomplices spoofed law enforcement phone numbers to tell victims that arrest warrants had been issued, demanding bond payments; similarly, Anthony Sanders was indicted in January 2025 for a jury duty scam in which he posed as a Sarasota sheriff and extorted over $12,000 in Bitcoin from a victim by threatening
mcafee.com
· 2025-12-08
McAfee Labs research from 2025 reveals a dramatic surge in scams across multiple categories, with job-related scams exploding over 1,000% from May through July, affecting nearly 1 in 3 Americans via text message. Shopping scams increased 250% during Amazon Prime Day, while personal finance scams surged 150% with email scams doubling between June and July, exploiting keywords like "loan" and "credit card." Technology scams grew 40% in text messages and 160% in emails, with scammers weaponizing consumer vulnerability by impersonating trusted brands (Amazon, Apple, Target, Nvidia) and exploiting economic anxiety,
noozhawk.com
· 2025-12-08
Jonathan Tudor, a 64-year-old West Hollywood man, was arrested in July and is facing 78 criminal charges including elder theft, securities fraud, grand theft, money laundering, and forgery after defrauding 38 victims out of approximately $500,000. Tudor posed as a BMW luxury car executive and investment advisor, promising high-end vehicles and doubled investment returns that never materialized; detectives recovered over $250,000 in luxury goods from his home and found no evidence the vehicles existed. The scam victimized people across California, New York, and Washington dating back to 2023, with Tudor allegedly using funds from new victims to pay smaller returns to earlier victims in
justice.gov
· 2025-12-08
A federal jury in Puerto Rico convicted Oluwasegun Baiyewu and four co-conspirators of money laundering involving proceeds from romance scams, pandemic relief fraud, unemployment insurance fraud, and business email compromise schemes that primarily targeted elderly and vulnerable Americans. The defendants laundered stolen funds through hundreds of transactions in 2020-2021, including purchasing used cars shipped overseas to Nigeria, with the conspiracy affecting victims across multiple states and Puerto Rico.
myfoxzone.com
· 2025-12-08
An elderly San Angelo resident lost nearly $900,000 in gold after being targeted by a sophisticated computer scam in which suspects impersonated government officials and instructed him to purchase gold bars. The arrest of suspect Muthukrishnan Palraj in August led authorities to link him to a multi-county fraud scheme totaling over $51 million in losses across Texas, with state and federal prosecutions now underway and potential deportation following any prison sentence.
irishexaminer.com
· 2025-12-08
French actor Dany Boon was defrauded of nearly €7 million by Thierry Fialek-Birles, a con artist who posed as an Oxford-educated Irish aristocrat and maritime lawyer. Operating under multiple aliases and identities, Fialek-Birles gained Boon's trust by claiming to renovate his yacht, then convinced him to transfer €2.2 million for yacht management and €4.5 million for a fake Irish Central Bank investment scheme before disappearing and transferring funds to offshore accounts in Panama and South Korea. Fialek-Birles, who was arrested in Panama in February 2024, faces trial in
nbcnews.com
· 2025-12-08
Lightning Shared Scooter Co. (LSSC), a fraudulent investment scheme posing as a Hong Kong-based scooter-sharing company, defrauded hundreds or thousands of victims by promising returns on initial investments of $2,000-$65,000 that could be monitored and withdrawn through a mobile app. The scam used fake endorsements from public figures (including Sean Spicer), local officials, military personnel, and fabricated storefronts in at least eight U.S. cities to gain credibility, particularly targeting immigrant and lower-income communities who invested life savings and college funds. Victims discovered last month they could not withdraw earnings, with law
financialpost.com
· 2025-12-08
Canadians lost $310.6 million to investment fraud in 2024, with deepfakes of celebrities and politicians used in fraudulent social media ads promising unrealistic returns. While reported cases have leveled off since 2022, experts estimate only 5-10 percent of fraud incidents are reported due to victim shame and underreporting. Younger Canadians aged 18-24 are experiencing the largest rise in reported fraud victimization, and the article advises protecting oneself through digital privacy awareness, recognizing red flags in investment ads, and reporting suspected fraud.
tulsapeople.com
· 2025-12-08
Scam losses in Oklahoma exceeded $72 million in 2024 and have tripled over the past five years, with increasingly emotionally manipulative tactics targeting older adults. Common scams include phishing, grandparent scams, tech support fraud, romance scams, and cryptocurrency schemes. Protection strategies include pausing before clicking links, researching contacts independently, using strong passwords with two-factor authentication, avoiding cryptocurrency and gift card payments, and reporting suspected fraud to the Oklahoma Attorney General, FTC, or AARP's Fraud Watch helpline.
saharareporters.com
· 2025-12-08
Oluwasegun Baiyewu, 37, of Richmond, Texas, was convicted by a federal jury in Puerto Rico for conspiracy to launder funds from large-scale fraud schemes including romance scams, pandemic relief fraud, and business email compromise attacks that disproportionately targeted elderly and vulnerable Americans. Baiyewu and four co-conspirators routed stolen proceeds through multiple accounts to conceal their origin, then used the funds to purchase used cars shipped to Nigeria and distribute money to other co-conspirators between 2020 and 2021. The defendants will be sentenced by the District of Puerto Rico court.
justice.gov
· 2025-12-08
An elderly victim in Bristolville, Ohio, and his sister lost over $1.6 million in a cryptocurrency investment scam that began with a text from an unknown person claiming to be named "Zach." The scammer, operating under the username "Shaw Goddess" on Telegram, posed as a successful investor and convinced the victim to open accounts on Crypto.com and Strike.com, ultimately directing him to transfer over $1 million to a fake investment platform; when withdrawal attempts failed, the victim realized the fraud. Federal investigators used blockchain analysis to trace approximately $200,000 of the stolen funds to a Tether cryptocurrency address, which was frozen by Tether Limited in December
prweb.com
· 2025-12-08
RangersAI announced two new features in its ScamRanger app to combat elder fraud and scams: Guardian Mode, which allows vulnerable users to designate trusted contacts who receive scam alerts and can provide support, and a WhatsApp Agent that delivers real-time scam detection directly within WhatsApp. The app detects over 130 scam types across SMS, email, and chat platforms, addressing a global scam crisis exceeding $1 trillion in losses annually.
justice.gov
· 2025-12-08
Twenty-eight alleged members of a Chinese organized crime ring operating since at least 2019 were charged in federal indictments for a $65 million fraud scheme targeting thousands of seniors across the United States, including a 97-year-old Holocaust survivor's widow who lost her entire life savings. The network, composed primarily of Chinese nationals working with India-based call centers, used impersonation and psychological manipulation to trick victims into wiring money, with scammers posing as technical support agents or government officials and often convincing victims they had received mistaken refunds. After a nationwide takedown operation, 25 defendants were arrested, $4.2 million was seized from financial accounts
moneyweek.com
· 2025-12-08
Fraudsters are impersonating the Financial Conduct Authority (FCA) to steal money from victims, with the FCA receiving 4,465 reports of such scams in a single year and 480 victims actually losing funds; nearly two-thirds of reports came from people aged 56 and older. Common tactics include falsely claiming recovered crypto funds, offering to help recover losses from previous scams ("double dip" scams), and using romantic "pig butchering" schemes, often employing call spoofing to appear legitimate. To protect themselves, people should never provide sensitive banking information to unsolicited contacts, verify FCA communications directly through official channels (0800 111 6
amac.us
· 2025-12-08
The grandparent scam tricks seniors into sending money to scammers posing as distressed grandchildren or relatives in crisis. Scammers exploit grandparents' emotional vulnerability and willingness to help by researching personal information online, impersonating authority figures, and requesting untraceable payments via wire transfer or gift cards. Modern variants use sophisticated technology including caller ID spoofing and AI voice cloning to appear more convincing, making these scams increasingly difficult to distinguish from legitimate requests.
yahoo.com
· 2025-12-08
According to AARP data, older Americans lost $12.5 billion to scams and fraud in 2024, representing a 25% increase from 2023, with imposter scams being the most common type. Scammers target seniors by posing as government officials, companies like Amazon and PayPal, or Medicare representatives, using phone calls, texts, and emails to request money or personal information. Experts advise seniors to verify all claims directly with organizations, avoid clicking links from unsolicited contacts, and remain cautious about sharing personal or financial information.
securitybrief.com.au
· 2025-12-08
Australians lost AUD $119 million to cyber scams in the first four months of 2025, with citizens encountering an average of 10 scam attempts daily and suffering average individual losses of AUD $1,851 per victim. Cybercriminals are increasingly using AI-powered tactics including deepfakes, phishing emails, and personalized targeted scams to deceive Australians at scale. Experts recommend a dual approach combining AI-powered detection tools with public education, awareness, and basic cybersecurity practices such as software updates and strong passwords to combat the surge in fraud.
fca.org.uk
· 2025-12-08
Fraudsters impersonating the UK's Financial Conduct Authority (FCA) conducted nearly 5,000 scams in the first half of 2025, with 480 victims losing money through various schemes including fake crypto recovery claims, loan recovery promises, and "pig butchering" romantic investment scams. Older consumers aged 56+ accounted for almost two-thirds of reported cases, with scammers targeting vulnerable victims by requesting bank PINs, passwords, and additional funds under the pretense of regulatory assistance or debt recovery.
greatnews.life
· 2025-12-08
This 2013 overview identifies the top scams affecting La Porte County and beyond, with phishing (stealing personal information for identity theft) ranked as the most prevalent fraud. The top ten scams include grandparent impersonation schemes targeting elderly relatives, doorstep contractor fraud using high-pressure sales tactics, work-from-home schemes, lottery scams, Nigerian advance-fee frauds, and account hijacking of email and social media platforms. The article emphasizes that internet growth and social networking have expanded scam delivery methods and increased victim numbers significantly, with many scams persisting or resurfacing over years despite awareness efforts.
electrek.co
· 2025-12-08
Lightning Shared Scooter Company (LSSC) perpetrated an investment scam targeting Western investors with promises of high daily returns from leasing e-scooters in Asian cities, collecting between $1,000 to $55,000 per victim across at least 17 U.S. states. The scheme operated as a pyramid structure relying on victims recruiting friends and family, displaying fake revenue in an app that couldn't be withdrawn, and using a fraudulent SEC certificate with obvious errors to appear legitimate. The Better Business Bureau has issued warnings about LSSC and similar schemes that exploit the credibility of the legitimate micromobility industry.
infosecurity-magazine.com
· 2025-12-08
Chainalysis, Binance, OKX, and Tether collaborated to seize approximately $46.9 million in stolen cryptocurrency from a Southeast Asia-based "pig butchering" (romance baiting) scam operation that defrauded hundreds of victims between November 2022 and July 2023, with some individual victims losing over $1 million. Tether froze the funds in June 2024 at the direction of APAC law enforcement. Romance baiting losses surged 40% year-over-year in 2024, representing one-third of total crypto fraud revenue, with deposit volumes increasing 210% annually, indicating the scam
ajc.com
· 2025-12-08
Buster Skrine, a former NFL cornerback, was arrested in Roswell, Georgia on Wednesday and faces 18 counts of financial fraud related to a romance scam in which he allegedly defrauded women he met on dating platforms of hundreds of thousands of dollars by leveraging his professional reputation and fabricating false promises of relationships and financial assistance. Skrine, who had been a fugitive from Canadian authorities for over a year on check fraud charges, typically used fake stories about needing money for travel, business ventures, or personal emergencies to solicit funds from victims through dating apps like Bumble and Hinge. Police identified at least three victims who lost a combined $300,000
justice.gov
· 2025-12-08
A Nigerian citizen, Daniel Chima Inweregbu, pleaded guilty to operating a romance scam between 2017 and 2018 that defrauded multiple American women of over $405,000 using a fake online persona called "Larry Pham." Inweregbu and his co-conspirators created fake dating profiles to build romantic relationships with middle-aged female victims, then manipulated them into sending money and laundered the proceeds through various financial transactions. He faces up to 20 years in prison on each of two counts plus fines totaling up to $750,000, with sentencing scheduled for December 4, 2025.
mondaq.com
· 2025-12-08
The U.S. Supreme Court in Kousilis v. United States unanimously ruled that defendants can be convicted of wire fraud for materially false misrepresentations that induce a victim to enter a transaction, even if the victim suffers no net economic loss. The case involved Stamatios Kousilis and his company, who fraudulently represented they would use a disadvantaged business enterprise (DBE) supplier for government construction contracts in Philadelphia worth over $20 million, when the DBE only acted as a pass-through with no actual involvement. This Supreme Court decision strengthens federal wire fraud prosecutions and aligns with the Department of Justice's 2025 priorities targeting investment fraud,