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cbc.ca
· 2025-12-08
Two Winnipeg seniors over 80 lost over $10,000 in a grandparent scam in July after receiving calls from someone impersonating their grandson claiming he needed bail money following a car accident. The victims made two transfers at their TD Bank branch over consecutive days, and the bank's investigation concluded it would not refund the money since the cardholders authorized the transfers, though the daughter—a former banker and investigator—contends the tellers failed to question the suspicious transactions. The Canadian Anti-Fraud Centre reports that emergency-based fraud scams resulted in over $819,000 in losses in the first half of 2025 alone, with only 5-10%
sg.finance.yahoo.com
· 2025-12-08
A 2025 Payments Canada study found that 13% of Canadians experienced payment fraud over six months, with disproportionately higher rates among newcomers (25%) and younger adults aged 18-34. Cash fraud incidents were nearly three times more common than credit card fraud, driven by counterfeiting, pickpocketing, and scams such as romance schemes and advance fee frauds, though 65% of reported losses under $500 were fully reimbursed by financial institutions.
yahoo.com
· 2025-12-08
Three Texas men were arrested for defrauding approximately 75 elderly victims of $1.5 million through a loan scheme in which they posed as business representatives offering to reduce utility bills, then fraudulently applied seniors' electronic signatures to 20-year loans ($13,000-$32,500 per victim) without consent. The article notes that elder fraud has become increasingly sophisticated, with 2023 losses exceeding $3.4 billion nationally among seniors aged 60+, now involving investment schemes, cryptocurrency fraud, and AI-enhanced techniques like voice cloning and deepfakes.
morningstar.com
· 2025-12-08
An 80-year-old man nearly lost $40,000 to a sophisticated FTC impersonation scam that began with a text message about a fraudulent Apple Pay charge, which led him to call fake bank representatives who convinced him he owed money and connected him to supposed FTC officials. His daughter-in-law intervened by explaining that banks don't have direct FTC lines, government agencies contact people by mail (not phone), and fraud liability is capped at $50, successfully stopping him from withdrawing cash for prepaid debit cards. The article highlights that seniors are particularly vulnerable to scams due to cognitive decline and isolation, accounting for over $3 billion in annual losses, an
international-adviser.com
· 2025-12-08
Investment scams are now among the most common consumer scams in the UK, often initiated through phone calls, emails, or social media with promises of guaranteed returns and exclusive opportunities. Common types include fake broker scams using cloned websites and cryptocurrency trading platform scams that show fake returns before freezing withdrawals; red flags include high-pressure tactics, lack of verifiable company addresses, requests for payment to personal accounts or cryptocurrency, and unregulated platforms. The FCA and consumer protection bodies recommend verifying company details on the FCA register, taking time to research independently, and avoiding firms that pressure quick decisions or request unusual payment methods.
ftc.gov
· 2025-12-08
FTC reports document a surge in imposter scams targeting retirees, with scammers posing as trusted government agencies and businesses to drain bank accounts and retirement funds through fake security alerts and false criminal accusations. From 2020 to 2024, reports of older adults losing $10,000 or more increased fourfold, while reports of losses exceeding $100,000 increased nearly sevenfold. These scams exploit older adults' vigilance about financial security by creating false urgency through phone calls and fabricated crises, instructing victims to transfer funds, use Bitcoin ATMs, or hand cash to couriers—tactics the real FTC and legitimate companies never use.
fema.gov
· 2025-12-08
After natural disasters, criminals pose as disaster workers or FEMA representatives to steal personal information and commit identity theft and fraud. The advisory provides protective measures including: never give money or personal information to unsolicited callers, verify FEMA contacts through official channels (1-800-621-3362), always request official ID badges, and report suspicious activity to the Disaster Fraud Hotline (1-866-720-5721) or local authorities.
floridapolitics.com
· 2025-12-08
U.S. Senator Rick Scott held a roundtable in Florida to address the escalating threat of scams and fraud targeting seniors, highlighting common schemes including grandparent scams, fraudulent investments, and government imposter emails. Speakers emphasized that seniors lose significant sums—including one case where a victim lost over $400,000—and that many large-scale operations originate from foreign call centers, constituting a national security concern; they also noted that Medicare fraud alone costs tens of billions of dollars annually through false billing and manipulation of member numbers. The roundtable stressed that awareness, prevention, and stronger legal penalties are essential to combat this crisis, while acknowledging that embarrassment often prevents victims from reporting
wlrn.org
· 2025-12-08
Miami-Dade County Sheriff Rosie Cordero-Stutz testified before the U.S. Senate Special Committee on Aging that scammers are using increasingly sophisticated schemes—including AI-generated scams, cryptocurrency theft, and robocalls—to target senior citizens, with losses exceeding $4.8 billion for Americans over 60 in the past year alone. The sheriff emphasized that victims often don't report scams due to shame and fear, and highlighted emerging threats including HOA fraud targeting elderly homeowners in South Florida. Law enforcement officials stressed the importance of rapid reporting to increase chances of recovering stolen funds and prosecuting criminals before they disappear and reinvent their schemes.
wlrn.org
· 2025-12-08
Scammers are targeting senior citizens with increasingly sophisticated schemes including AI-generated scams, cryptocurrency theft, and robocalls, resulting in losses exceeding $4.8 billion for Americans over 60 in the past year alone, according to Miami-Dade County Sheriff Rosie Cordero-Stutz. Common tactics include impersonation of grandchildren, government officials, and businesses, with victims often too ashamed or fearful to report the crimes. Law enforcement officials are calling for enhanced tools and resources to track scammers, rapid reporting by victims, and heightened awareness of emerging threats like HOA and condo fraud targeting elderly homeowners.
aarp.org
· 2025-12-08
In 2023, older adults lost nearly $62 billion to scams and fraud out of an estimated $158 billion stolen overall, according to the FTC, with victims suffering devastating consequences including loss of homes and significant health/emotional impacts. The AARP Fraud Watch Network Helpline received over 100,000 calls in 2024 from scam targets, with notable cases including a Florida man defrauded of $400,000 from a home sale and another victim losing $650,000 to a romance scam. Scams have become increasingly sophisticated through artificial intelligence, deepfakes, and social media, prompting AARP to urge lawmakers to strengthen frau
wtop.com
· 2025-12-08
D.C. police arrested two California residents, Amruth Vaka, 27, and Saloni Shaikh, 28, for defrauding an elderly woman of approximately $640,000 through a tech support scam operating between February and June. The scammers gained the victim's trust by posing as computer repair technicians, then instructed her to make wire transfers and purchase gold coins over several months until a suspicious merchant alerted police. Authorities suspect the pair may be part of a larger nationwide fraud ring and are collaborating with the FBI to identify additional victims.
wmnf.org
· 2025-12-08
A U.S. Senate Aging Committee report found that seniors lost over $4.8 billion to fraud and scams last year, with Senator Rick Scott warning the actual figure may be higher due to underreporting. Miami-Dade County leaders highlighted rising scams including condo/HOA fraud and cybercrime, with one case involving a man in his 60s losing $400,000 to cybercrime, and cautioned that artificial intelligence is increasing scam sophistication. Authorities urged seniors to avoid sharing personal information over the phone and report suspected fraud to law enforcement immediately.
fortuneindia.com
· 2025-12-08
**Incident:** Cisco fell victim to a vishing (voice phishing) attack on July 24, in which an attacker impersonated a company representative and gained access to a third-party CRM system, exposing basic user profile information including names, addresses, email addresses, phone numbers, and user IDs for an undisclosed number of users. The attacker did not access passwords, confidential data, or proprietary information, and Cisco immediately terminated the actor's access and notified affected users. The article emphasizes that vishing attacks are becoming increasingly sophisticated with AI-enhanced voice impersonation and provides protective measures including never sharing personal data over phone calls, verifying
wisn.com
· 2025-12-08
A nationwide gold coin scam victimized more than 50 people in Wisconsin, resulting in over $15 million in losses. A New Berlin couple lost $526,095 after scammers posing as U.S. Treasury officials convinced them to convert their cash to gold coins for protection; however, they stopped a fourth transfer after seeing a news report and contacted police, who arrested courier Roshan Shah during a sting operation when he attempted to pick up a decoy package filled with rocks instead of gold coins.
bbc.co.uk
· 2025-12-08
Peter, a man struggling with depression, was catfished by serial fraudster Kerry Gray (37) who posed as "Charlotte," a nurse, on a dating app for over a year. Gray used fabricated stories about family crises, mental health struggles, and self-harm threats to extract nearly £3,500 from Peter before he discovered her true identity; Gray was convicted and received a suspended sentence for conning Peter and two other men out of more than £11,000 in total through the same scheme.
fontanaheraldnews.com
· 2025-12-08
Nathan Dawood, 54, of Burbank, was found guilty of embezzling approximately $2.2 million from an elderly victim's inherited estate and retirement savings by fraudulently transferring funds to his own accounts and convincing the victim to transfer property ownership to companies he controlled. Dawood was convicted on six counts of wire fraud and nine counts of money laundering, with sentencing scheduled for December 8, 2024, where he faces up to 20 years in federal prison per wire fraud count. The FBI investigated the case, which occurred during the second half of 2019 when Dawood initially offered to help the victim manage inherited real estate and retirement accounts.
fox13seattle.com
· 2025-12-08
Scammers in Snohomish County, Washington are conducting increasingly sophisticated fraud by impersonating federal judges, FBI agents, and county sheriff's deputies through forged documents sent via text and email, falsely claiming recipients have outstanding arrest warrants and demanding thousands of dollars in Bitcoin or mobile app payments. The Snohomish County Sheriff's Office reports at least 100 complaints monthly, with many victims—particularly elderly residents—losing significant sums before recognizing the scam. Authorities emphasize that legitimate law enforcement never requests payment digitally, serves warrants via email, or accepts cryptocurrency, and advise victims to hang up immediately and report such contact to local police.
yahoo.com
· 2025-12-08
A Peoria, Arizona man lost $27,000 of his life savings after scammers impersonated his bank via text message, convincing him to withdraw funds and deposit them into a fraudulent Apple Wallet account they created on his iPhone. Local law enforcement intervened after he reported the fraud, and detective Michael Finney was able to recover approximately 90% of the stolen funds within five months by obtaining a warrant to freeze the scammer's accounts. The detective emphasized that reporting fraud within 72 hours is critical for recovery, and recommended never responding directly to unsolicited communications claiming to be from banks or government agencies—instead calling official phone numbers on the back of bank cards or
independent.com
· 2025-12-08
On August 4, a 77-year-old woman in Goleta nearly lost $30,000 to an elaborate phone scam in which callers impersonating Amazon and Federal Trade Commission agents instructed her to withdraw cash and provide photos of the money. The victim became suspicious due to misspellings in an email, contacted the sheriff's office while still on the call, and deputies arrested Caihong Lei as she retrieved the box of cash from the victim's property. Lei was charged with grand theft by false pretense, conspiracy to commit fraud, and misdemeanor prowling, with bail set at $500,000, while investigators determined whether she was part of a larger scam network.
southernmarylandchronicle.com
· 2025-12-08
Federal Trade Commission data reveals a more than four-fold increase since 2020 in reports from adults 60 and older losing $10,000 or more to impersonation scams, with combined losses exceeding $100,000 jumping from $55 million in 2020 to $445 million in 2024. Common tactics include fraudsters posing as government officials, banks, or tech companies to convince victims to transfer funds via cryptocurrency, gift cards, or courier delivery under false pretenses of account protection or legal issues. The FTC reported $12.5 billion in total scam losses nationally in 2024, with older adults accounting for $2.3 billion an
miamitimesonline.com
· 2025-12-08
U.S. Senator Rick Scott, who chairs the Committee on Aging, held a roundtable in Florida to address a "growing threat" of elder fraud targeting seniors through increasingly sophisticated schemes including grandparent scams, fraudulent investments, and government imposter emails, often originating from foreign call centers. Stakeholders reported that seniors lose significant sums—including one case where a victim lost over $400,000—and often fail to report crimes due to embarrassment, while Medicare fraud alone costs tens of billions through false billing. The roundtable emphasized that awareness, prevention, stronger penalties, and coordinated efforts among banks, government, and law enforcement are essential to combat what is described as a "national crisis" an
ca.news.yahoo.com
· 2025-12-08
Between 2020 and 2024, the FTC reported a dramatic surge in imposter scams targeting seniors ages 60 and older, with losses exceeding $100,000 jumping from $55 million to $445 million. These scams typically involve fraudsters contacting victims with warnings about account threats or fraud, then convincing them to transfer money for "protection," often resulting in victims losing their entire life savings. The FTC advises seniors never to transfer money in response to unsolicited calls or messages and to independently verify any claims before acting.
elderlawanswers.com
· 2025-12-08
In 2024, older adults lost significant amounts to scams, with those in their 70s losing an average of $1,000 compared to $417 for people in their 20s, according to FTC data. Scammers target seniors through phishing schemes impersonating government agencies like the SSA, IRS, and DMV, using fake text messages about unpaid tolls or traffic tickets to create urgency and trick victims into clicking malicious links or providing personal financial information. The FTC recommends verifying suspicious messages by contacting relevant agencies directly (not via links in the message), consulting trusted individuals, and reporting scams through phone reporting tools.
plansponsor.com
· 2025-12-08
The Federal Trade Commission reports that scams targeting adults over 60 have grown exponentially, with total fraud losses climbing to nearly $700 million in 2024 from $122 million in 2020, and losses exceeding $10,000 increasing eight-fold during this period. Seniors are particularly vulnerable to romance scams and other fraud schemes because they typically have larger retirement savings and are perceived as less technologically sophisticated. Congress introduced legislation to allow penalty-free early withdrawals from qualified retirement plans for fraud victims, while the FTC recommends that seniors avoid sending money to unsolicited callers, verify government officials' identities, and block unwanted calls to protect themselves.
waow.com
· 2025-12-08
This article is not relevant to the Elderus database. It covers international diplomacy and a peace agreement between Armenia and Azerbaijan facilitated by President Trump, with no connection to elder fraud, scams, abuse, or elder-related issues. No summary is needed for this content.
fandomwire.com
· 2025-12-08
The PERRY Act (Protecting Elder Realty for Retirement Years Act) proposes a 72-hour cooling-off period for real estate contracts involving seniors over 75, inspired partly by Katy Perry's high-profile disputes with elderly homeowners. The legislation was prompted by broader concerns about elder financial exploitation in real estate—federal data showed over 93,000 fraud complaints from seniors aged 60+ in 2020 with losses exceeding $500 million—and was supported by examples including Perry's disputed $15 million purchase of a Santa Barbara mansion from an 85-year-old disabled veteran and her earlier attempt to purchase a convent from elderly nuns. Though the act
wgme.com
· 2025-12-08
Impersonation scams targeting older Americans have increased exponentially since 2020, with losses among people over 60 jumping from $55 million to $445 million by 2024, according to FTC data. Scammers impersonate trusted government agencies or businesses to convince victims that their money is at risk, then pressure them to transfer funds for "protection," sometimes wiping out entire life savings. The FTC advises consumers to hang up on unsolicited calls making such claims, call the agency or business directly to verify, and block suspicious numbers.
wthr.com
· 2025-12-08
Phishing scams work by impersonating trusted brands (most commonly Microsoft, Google, Apple, Spotify, and Adobe) through fake websites and mass emails designed to trick users into clicking malicious links and revealing personal information. To protect yourself, hover over links to verify the actual URL before clicking, contact companies directly using verified contact information if suspicious, and use unique passwords for each account so compromised credentials cannot be used across multiple sites.
the420.in
· 2025-12-08
In 2024, Americans aged 60 and above lost a record $700 million to scams according to the FTC, representing a 30% increase from 2023 and a sixfold jump since 2020, with the most severe losses occurring among those defrauded of over $100,000 each. The predominant scams involved criminals impersonating government officials, law enforcement, and major corporations like Microsoft and Amazon, using urgency tactics to pressure victims into transferring funds via Bitcoin ATMs or handing over cash and valuables. The FTC recommends that seniors never send money or share financial information to unverified sources and instead independently verify claims through official contact information
curlytales.com
· 2025-12-08
A Swiggy food delivery user nearly fell victim to a scam when a delivery agent arrived without her order and requested her OTP, falsely claiming it was needed to assign a new rider. When she contacted Swiggy customer support, she discovered the agent had lied to them about being in an accident; the agent was attempting fraud by obtaining her OTP without delivering the food. The incident highlights the importance of never sharing OTPs blindly with delivery personnel, as this information can be exploited for scams.
webpronews.com
· 2025-12-08
WhatsApp dismantled 6.8 million accounts linked to scam operations, many originating from call centers in Southeast Asia, in response to phishing, investment fraud, and other deceptive schemes targeting the platform's 2 billion users. The crackdown, powered by AI collaboration with firms like OpenAI, targeted fraud ecosystems including fake job offers and romance scams, with India alone seeing nearly 100 lakh accounts banned in January 2025. WhatsApp is introducing new safety features like in-app reporting and a "Safety Overview" tool, though experts note that scammers continue to adapt quickly and that international cooperation remains essential for long-term prevention.
guardian.co.tt
· 2025-12-08
Shiva Bissessar, managing director of Pinaka Consulting Ltd., is advocating for public-private partnerships to combat online scams, which disproportionately affect elderly and youth populations. According to FBI data presented at international conferences in 2024, investment fraud caused over $6.5 billion in losses in the U.S., while phishing remains the most frequently reported crime type, with emerging threats including romance scams and AI-enabled deepfakes. Bissessar noted that Trinidad and Tobago lacks adequate data collection and classification systems to measure the true prevalence of these crimes locally, and calls for stronger coordination between authorities and social media platforms to address online harms.
cutoday.info
· 2025-12-08
Reports of high-value impersonation scams targeting adults 60 and over have surged dramatically since 2020, with losses exceeding $100,000 increasing eight-fold from $55 million in 2020 to $445 million in 2024, according to FTC analysis. Scammers impersonating government agencies, banks, or tech companies (including fake FTC agents) trick victims into transferring money by claiming urgent security threats or suspicious account activity, when the funds are actually stolen. The three primary deception tactics involve falsely claiming someone is using the victim's accounts, that their personal information is being used for crimes, or that their computer has security problems.
cbsnews.com
· 2025-12-08
Apple co-founder Steve Wozniak advocates for stronger consumer protections against internet fraud, particularly regarding scams involving AI, cryptocurrency, and fabricated messages. He is pursuing a lawsuit against YouTube to establish better safeguards for fraud victims, though his efforts face challenges from legal protections that shield online publishers from liability.
express.co.uk
· 2025-12-08
Lloyds Bank warned of a surge in football ticket scams ahead of the Premier League season, reporting over 2,400 fraud cases among its customers in the past two years with losses exceeding £500,000, and estimating at least 12,000 nationwide victims have lost over £2.5 million since the 2023/24 season. The scams, primarily targeting fans aged 25-34, involve fraudsters posting fake ticket listings on social media offering discounted or sold-out game tickets, then disappearing after victims pay via bank transfer without delivering tickets. The UK government joined Lloyds' "Stop! Think Fraud" campaign to advise supporters to purchase
deccanherald.com
· 2025-12-08
Deepfake technology, powered by AI, poses a growing fraud threat to financial institutions and individuals, with estimates suggesting potential losses of Rs 70,000 crore in India in 2025. Fraudsters use hyper-realistic synthetic videos and cloned voices to impersonate executives or loved ones to authorize fraudulent transactions, with an average loss of $450,000 per business incident globally in 2024. Financial institutions are implementing advanced AI detection, blockchain-based identity verification, and employee training programs to counter deepfake fraud, as traditional KYC and facial recognition methods have become vulnerable to these sophisticated attacks.
inkl.com
· 2025-12-08
Seniors are increasingly targeted through crypto ATM scams using seven common tactics: fake tech support calls, grandparent emergency scams, romance fraud, government impersonation, fake investment schemes, utility bill threats, and QR code tricks. These scams exploit the irreversible nature of cryptocurrency transactions and the emotional vulnerability of older adults through urgency, authority, and personal relationships. The article advises seniors to verify requests independently through official channels, avoid sending cryptocurrency for emergencies or payments, and consult trusted contacts before transferring money.
newskarnataka.com
· 2025-12-08
A retired elderly woman in Mangaluru was defrauded of ₹3.09 crore between January and July 2025 through a "digital arrest" scam, where fraudsters impersonated a postal official and falsely claimed her identity was used to send drugs to China, threatening her with 75 years imprisonment. The victim was coerced into transferring money in multiple instalments under the threat of arrest, with fraudsters maintaining control through intimidation and instructing secrecy. The scam was discovered only when the perpetrators stopped communicating, and police have registered a case under cybercrime laws.
commbank.com.au
· 2025-12-08
Truyu, a digital identity protection app backed by CommBank, has launched a free AI-powered "Scam Checker" tool that analyzes suspicious text messages to help Australians identify potential SMS scams. The app also alerts users in real-time when their identity is misused at major merchants or exposed in data breaches, while CommBank simultaneously introduced in-app verification for online card transactions to reduce reliance on text-based codes and protect against impersonation scams. These features aim to help people protect themselves and provide clearer security guidance than traditional SMS-based authentication methods.
mundodeportivo.com
· 2025-12-08
A San Diego woman lost her entire savings of $5,700 when a scammer posing as a Wells Fargo representative convinced her to transfer funds to Apple Cash under the pretense of protecting her money. The fraudster claimed to have set up new accounts in her name, but the funds were permanently lost once García discovered the deception and contacted her actual bank. The case highlights key warning signs of phone impersonation scams, including caller ID spoofing, unverified transfers, and urgency tactics, with experts recommending victims hang up and call their bank directly using official numbers to verify caller identity.
dos.ny.gov
· 2025-12-08
The New York Department of State's Division of Consumer Protection issued scam prevention guidance for college students as the academic year begins, highlighting six common threats: fake scholarship and loan schemes (which often guarantee pre-approvals), unpaid tuition phone scams, fraudulent job/internship offers requesting personal information, counterfeit textbook websites, rental property scams, and fake social media stores selling discounted products. The advisory warns students to verify information directly with official sources, avoid upfront fees, research sellers carefully, and protect personal information like Social Security numbers during financial transactions.
mondaq.com
· 2025-12-08
On August 4, 2025, FinCEN issued a warning about escalating criminal misuse of convertible virtual currency (CVC) kiosks, noting that over two-thirds of kiosk-related fraud losses in 2024 affected seniors who were targeted through tech support and government impersonation scams directing them to transfer funds via the kiosks. The notice also identified widespread operator noncompliance with Bank Secrecy Act requirements and documented use of CVC kiosks by drug cartels for money laundering through structuring transactions below reporting thresholds and using multiple machines across jurisdictions.
ainvest.com
· 2025-12-08
This educational piece examines the financial vulnerabilities facing aging populations, noting that 7.2 million Americans aged 65+ currently live with Alzheimer's dementia (projected to triple by 2060), with dementia-related costs reaching $384 billion annually and expected to surge to $1.6 trillion by 2050. Financial literacy among U.S. seniors aged 55+ has declined to 49.2%, increasing susceptibility to fraud—global elder fraud losses exceed $36 billion annually—while cognitive decline leads to poor financial decisions regarding Social Security, Medicare, and long-term care planning. The article highlights emerging solutions including AI-driven fintech platforms that reduce
ainvest.com
· 2025-12-08
**Article:** AInvest Newsletter - Elder Fraud and Financial Literacy Crisis
U.S. seniors aged 55+ lost $3.4 billion to scams in 2023 as financial literacy declined to 49.2% and cognitive impairment rates spiked, with 62.3% of older adults in federally qualified health centers exhibiting undiagnosed mild cognitive impairment. Global elder fraud losses exceed $36 billion annually, creating systemic risks to retirement security and healthcare systems, while simultaneously spurring a $10 trillion longevity market focused on AI-driven financial platforms, annuities, and cognitive intervention tools to mitigate
bankingjournal.aba.com
· 2025-12-08
From 2020 to 2024, the Federal Trade Commission reported a dramatic surge in impersonation scams targeting retirees, with reports of losses exceeding $10,000 increasing fourfold and losses over $100,000 rising sevenfold. Scammers posed as banks, government agencies, and even the FTC itself, using fake fraud alerts and Social Security warnings to trick victims into transferring funds to Bitcoin ATMs or giving cash to couriers. The FTC advises consumers to never send money in response to unsolicited contacts, to hang up and independently verify alerts, and to use call-blocking options.
nature.com
· 2025-12-08
This research study compared video-based versus text-based anti-fraud educational materials for older adults aged 60 and above, finding that video interventions significantly outperformed text-only materials in improving comprehension, emotional engagement, and fraud prevention intentions. Text-based materials provided more detailed information but generated lower emotional engagement, while the study validated a combined multimodal approach integrating both formats to better address older adults' cognitive and emotional needs in protecting themselves against sophisticated fraud schemes.
lowincomerelief.com
· 2025-12-08
Social Security recipients face escalating financial fraud, with seniors over 60 losing an estimated $3.4 billion to scams in 2023 alone. The article outlines seven common scam types targeting this vulnerable population: fake government calls (including a new SSA warning about fraudsters posing as federal agencies demanding payment via untraceable methods), Medicare fraud, grandparent scams, financial services impersonation, tech support scams, fake assistance programs, and romance scams. The article provides protective measures for each scam type, emphasizing verification of contacts, use of official phone numbers, and avoidance of unusual payment methods and unsolicited requests for personal information.
rfdtv.com
· 2025-12-08
Social Security impersonation scams are increasing as criminals pose as SSA officials via calls, texts, emails, and social media to steal Social Security numbers, with scammers now using AI to create more convincing and personalized communications including fake credentials and spoofed official letterhead. Experts warn that recipients may be particularly vulnerable during periods of system changes, such as 2024's new login requirements for My Social Security accounts, and advise people to be suspicious of unsolicited contact offering to help with credential changes since the SSA rarely initiates contact with the public.
americanbanker.com
· 2025-12-08
The Federal Trade Commission reported a dramatic surge in imposter scams targeting older adults from 2020 to 2024, with losses over $100,000 increasing nearly sevenfold and reported total losses reaching $700 million in 2023 (though estimated real losses may reach $7.1 billion to $61.5 billion when unreported cases are included). Scammers use deceptive tactics like impersonating banks, government agencies, and tech companies to create urgency and convince victims to send money via cryptocurrency (33%), bank transfers (20%), or cash (16%), with bank transfers most common for losses exceeding $100,000. Banks face pressure to enhance fraud prevention