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5,340 results in Financial Crime
allafrica.com · 2025-12-08
Jude Okoye, former manager of music duo Psquare, was released from Ikoyi prison after meeting bail conditions in a money laundering case involving allegations of laundering N1.38 billion and approximately $1 million in foreign currency. He faces charges of fraudulently diverting music royalties belonging to his brothers Peter and Paul, totaling over $1 million across multiple currencies, after spending two months in custody. The case involves seven initial charges and four additional counts filed by the Economic and Financial Crimes Commission (EFCC).
yahoo.com · 2025-12-08
Tyra Brown, a 27-year-old Arkansas customer service representative at a New Hampshire credit union, was sentenced to 36 months in federal prison for wire fraud after stealing $301,674.89 from at least 10 elderly customers. Brown exploited her job access to customers' personal information and account details to conduct unauthorized transfers via wire, electronic debits, and the Zelle app, with attempted theft totaling $428,526.85.
General Elder Fraud Financial Crime Wire Transfer Payment App
cryptopolitan.com · 2025-12-08
Americans aged 60 and above lost $4.8 billion to cybercrime in 2024, a 43% increase year-over-year, with 7,500 seniors losing $100,000 or more each—more than any other age group, according to the FBI's Internet Crime Report. Seniors are particularly vulnerable due to limited digital literacy, isolation, substantial savings, and advanced, personalized scams; cryptocurrency investment schemes ("pig butchering") alone accounted for $2.8 billion in losses. The article argues that existing U.S. regulations fail to address digital threats adequately, unlike European programs, and calls for systemic reform including real-time fraud detection
cyberscoop.com · 2025-12-08
The bipartisan GUARD Act proposes to equip federal, state, local, and tribal law enforcement with federal grant funding and advanced technological tools—including blockchain tracing capabilities—to investigate financial fraud schemes targeting elderly Americans. The legislation responds to a 46% surge in financial fraud complaints from people over 60 in 2024, which resulted in over $4.8 billion in losses, with particular concern about emerging scams like pig butchering and SMS phishing targeting toll road violations.
cleveland.com · 2025-12-08
**Summary:** A Seven Hills resident fell victim to a romance/check scam when a scammer impersonated a friend via Instagram, claiming an art museum would pay $1,000 for use of the resident's photo. After the resident deposited a fraudulent $1,000 check, the scammer requested $225 back and later threatened the resident when she refused; the bank voided the $225 transaction and police are investigating. (A separate shoplifting incident at a Meijer store also occurred on March 23, involving a customer arrested for under-scanning items valued at $87 at self-checkout.)
silive.com · 2025-12-08
Between December 2023 and February 2025, the FBI received over 100 reports of scammers impersonating the FBI's Internet Crime Complaint Center (IC3) to target previous fraud victims with promises of fund recovery. The scammers use fake social media profiles, emails, phone calls, and messaging apps to gain access to victims' sensitive financial information, resulting in repeated victimization. The FBI advises that IC3 will never directly contact individuals through these channels, and people should never send money or share personal information with unknown contacts.
explorejeffersonpa.com · 2025-12-08
Scammers impersonating State Troopers and court officials are calling Pennsylvania residents and threatening arrest for missed jury duty or contempt of court, demanding immediate payment via gift cards, wire transfers, or cryptocurrency. The imposters use spoofed caller IDs, fake case numbers, and victims' personal information to appear credible. Pennsylvania State Police warn that legitimate government agencies never request payment through untraceable methods or personal financial information over the phone, and urge residents to hang up immediately and contact local police if targeted.
nypost.com · 2025-12-08
Cyber scams cost Americans $16 billion in 2024, a 33% increase from the previous year, with California suffering the largest losses at $2.5 billion, according to FBI data. Elderly people accounted for nearly 30% of total monetary losses, with phishing/spoofing being the most common scam type at approximately 193,000 complaints. The FBI recommends verifying sender information, using strong passwords, avoiding wire transfers and gift card payments, and researching businesses before sharing personal or financial information online.
paxnews.com · 2025-12-08
Hugo Travel owner Hien Duong lost approximately $284,000 after a fraudster contacted him via social media posing as a U.S. booking agent and purchased about 100 airline tickets to Vietnam using fake credit cards, which were later disputed with the airlines. The Regina-based travel agency was forced to pay kickback charges to multiple airlines, and a GoFundMe campaign was launched by another travel industry professional to help Duong recover some losses. Regina police are investigating the case, which authorities note is part of a broader pattern of business fraud targeting small enterprises.
capeargus.co.za · 2025-12-08
A 78-year-old Cape Town retiree lost R10.6 million (his life savings and pension investment) to a business email compromise and banking fraud scheme in November-December 2024. Fraudsters impersonated his financial planner via email, convincing him to transfer funds to fake FNB and Capitec accounts instead of the legitimate financial institution, with money ultimately distributed across multiple accounts. The Hawks and South African police are investigating the organized criminal network believed to be operating from other African countries.
ghanabusinessnews.com · 2025-12-08
A 36-year-old Ghanaian businessman, Raymond Ofomala, was arraigned in Accra Circuit Court accused of defrauding a Finnish retiree, Marianne Kertain Elisabet Westerholm, of GH¢204,115.21 between July and August 2024. Ofomala allegedly posed as a state prosecutor named Frank Owusu and falsely promised to recover money the victim had previously lost to a romance scam (totaling $102,500 from 2019-2022), but instead collected funds under false pretenses through mobile money accounts. He pleaded not guilty to charges of fraud by false pretenses and obtaining
thecable.ng · 2025-12-08
A federal court in Lagos ordered the interim forfeiture of assets linked to Chinese nationals and international accomplices arrested in December 2024 for operating an internet fraud syndicate. The 792 suspects—including 114 Chinese nationals, 40 Filipinos, and others from various countries—were arrested at a Victoria Island building where they conducted romance, dating, and investment scams using computers and mobile devices provided by the company Genting International. The court authorized seizure of thousands of items including computers, phones, SIM cards, routers, and furniture used in the operation, pending a 14-day period for interested parties to contest permanent forfeiture to the federal government.
saharareporters.com · 2025-12-08
On April 23, 2025, Nigeria's Federal High Court ordered the interim forfeiture of 73 properties and thousands of electronic items seized from Chinese nationals suspected of cyber-terrorism and internet fraud, following a motion by the Economic and Financial Crimes Commission (EFCC). The items—including 1,596 laptops, 4,091 mobile phones, multiple SIM cards, vehicles, and household equipment—were recovered during a December 2024 operation that arrested 792 suspects involved in cryptocurrency investment and romance scams. The court directed publication of the forfeiture order to allow interested parties 14 days to contest before a final forfeiture decision is made.
businessday.ng · 2025-12-08
A UN Office on Drugs and Crime report warns that Asian-led cybercrime syndicates, facing crackdowns in Southeast Asia, are expanding operations to Africa and Latin America, with Nigeria identified as a major target for romance scams, investment fraud, and cryptocurrency schemes. Law enforcement raids in Nigeria between late 2024 and early 2025 have arrested suspects linked to these East and Southeast Asian groups, as the global scam industry generates an estimated $40 billion annually and increasingly employs AI and deepfakes to evade detection. The report calls for urgent international cooperation, stronger cybersecurity infrastructure, and regional collaboration to combat this growing threat to Nigeria's digital economy and financial systems.
justice.gov · 2025-12-08
Paul Spivak, 66, of Ohio, was sentenced to 17.5 years in prison for leading a conspiracy that defrauded investors of approximately $6.9 million between 2016 and 2019 through artificially inflating penny stock prices and using unlicensed brokers to sell worthless restricted shares to unsuspecting investors, including many elderly individuals who paid between $4,000 and $1 million each. Spivak, the CEO of U.S. Lighting Group, Inc., was convicted of securities fraud and wire fraud, and ordered to pay a $200,000 fine with restitution amounts to be determined. His co-defendant Charles
levittownnow.com · 2025-12-08
A 69-year-old Philadelphia woman nearly fell victim to a sophisticated tech support scam in which fraudsters impersonating Microsoft and her bank claimed she had been hacked and threatened arrest, attempting to manipulate her into withdrawing cash to purchase cryptocurrency. The scam exploited heightened emotions and urgency, tactics that have become more effective with AI advancement and access to personal data on the dark web. According to the FTC, Americans lost between $23.7 billion and $158.3 billion to financial scams in 2023-2024, with cryptocurrency transfers and digital payment methods making these crimes particularly difficult to trace and recover from.
mitrade.com · 2025-12-08
Americans aged 60 and above lost $4.8 billion to cybercrime in 2024, a 43% increase year-over-year, with 7,500 seniors each losing $100,000 or more—more than any other age group according to the FBI's Internet Crime Report. Seniors are particularly vulnerable due to digital literacy gaps, isolation, financial assets, and trust in institutions that scammers impersonate, with cryptocurrency scams (especially "pig butchering" romance cons) and tech support fraud being especially profitable schemes. The article argues that current regulatory and institutional responses are fragmented and inadequate, placing fraud prevention burden on individuals rather than treating elder cybercrime
financial-planning.com · 2025-12-08
A Government Accountability Office study found that fragmented federal oversight and lack of coordination among 13+ agencies hampers efforts to combat scams that cost Americans "large sums" including entire life savings. The report identified massive underreporting—only 5-15% of victims report scams—and recommended 16 actions including establishing a government-wide strategy, universal definition, and comprehensive estimate of scam losses to improve consumer protection efforts.
uk.news.yahoo.com · 2025-12-08
Police in Fermanagh and Omagh warned of a "fake new bank card" scam in which fraudsters impersonated bank officials, convinced victims their accounts were compromised, and instructed them to enter card details into a fraudulent card reader, resulting in large unauthorized withdrawals. The warning also noted related fraud cases including bogus tradesmen on social media and WhatsApp impersonation scams, with authorities urging the public to remain vigilant against unsolicited financial requests regardless of source and to report incidents to police and their banks immediately.
thegazette.com · 2025-12-08
This article profiles Michael Wagler, the new Iowa state director for AARP, who brings over two decades of community development experience to the role. The article highlights AARP's 2025 priorities including financial security, noting that elderly Americans lose over $3 billion annually to fraud and scams, and details the "Stop the Scammers" tour—a partnership between AARP Iowa, the Iowa Attorney General's Office, and the Iowa Department of Insurance and Financial Services to educate the public on avoiding fraud schemes. Research shows that people aware of fraud schemes are 80 percent less likely to become victims.
chronicle.ng · 2025-12-08
Joseph Oloyede, a Nigerian traditional ruler, and Edward Oluwasanmi, a pastor, pleaded guilty to defrauding the United States government of $4.2 million in COVID-19 relief funds through Oluwasanmi's shell companies, which diverted the money for personal expenses including real estate purchases. Both men face potential prison sentences with sentencing scheduled for July 2, 2024, after being charged with conspiracy to commit wire fraud, money laundering, and related federal crimes.
hayspost.com · 2025-12-08
Kyle fell victim to an impersonation scam when a fraudster posing as his bank's fraud department obtained his personal information (social security number and birthdate) by asking identity verification questions while simultaneously using those answers to attempt accessing Kyle's account. Golden Belt Bank's Chief Operations Officer recommends hanging up on unsolicited calls and calling your bank directly using a verified number, and warns of common red flags including pressure for immediate action, requests for secrecy, upfront payment demands, and hard-to-track payment methods like wire transfers or gift cards. Banks will never ask for full debit card numbers, PINs, or online passwords unless you initiate contact, and one-time passcodes shoul
Government Impersonation Bank Impersonation Scam Awareness Financial Crime Cryptocurrency Wire Transfer Gift Cards Cash
coingeek.com · 2025-12-08
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U.S. House lawmakers introduced the bipartisan GUARD Act on April 21 to combat "pig butchering" scams and financial fraud targeting older Americans, particularly through online and investment schemes. The legislation would equip federal, state, and local law enforcement with blockchain technology tools to trace and prosecute scammers, addressing a crisis in which Americans reported over $12.5 billion in fraud losses in 2024 (a 25% increase year-over-year), with older adults suffering disproportionately higher losses—including pig butchering schemes that accounted for 33.2% of digital asset scam revenue in 2024.
presidentialprayerteam.org · 2025-12-08
In 2024, consumers lost $470 million to text message scams—a fivefold increase from 2020—despite fewer overall scam reports being filed. The most prevalent scams involved fake package delivery notifications, fraudulent job offers requiring upfront payments, and impersonated bank fraud alerts, with perpetrators also using fake toll notices and "wrong number" schemes that escalated into romance or financial scams. The FTC recommends consumers avoid clicking links in unsolicited texts, verify messages through trusted contacts, and report suspicious texts to 7726 (SPAM) or through their messaging app's reporting features.
fox9.com · 2025-12-08
Texting scams are becoming increasingly sophisticated, with common schemes including fake unpaid toll notices, prize offers, student loan assistance, and AI-generated celebrity videos (such as Kevin Costner impersonations) that request money. Minnesota ranks 12th nationally for impostor scams with a median loss of $800 per victim, and experts advise recognizing red flags such as urgent requests, unknown senders, international numbers, and requests for gift cards or remote computer access, noting that legitimate government agencies and the FBI never ask for payment via gift cards.
justice.gov · 2025-12-08
**Summary:** Robert Cirilo, a 42-year-old former president of United Steelworkers Local 13-1647 in Corpus Christi, Texas, pleaded guilty to embezzling over $280,000 from the union through approximately 430 unauthorized personal transactions that he concealed by deceiving union members. Cirilo faces sentencing in August 2025, with potential penalties including up to 20 years in federal prison and fines totaling up to $260,000.
insurancenewsnet.com · 2025-12-08
An Arkansas woman who worked as a customer service representative at a bank was sentenced to 36 months in prison for stealing from elderly customers. The defendant deliberately exploited her position of trust and targeted elderly account holders, particularly those unfamiliar with electronic banking.
upi.com · 2025-12-08
Nigerian national Okezie Bonaventure Ogbata was sentenced to 97 months in prison for an international inheritance fraud scheme that defrauded over 400 elderly U.S. victims of more than $6 million. Ogbata and co-conspirators sent letters falsely claiming to represent a Spanish bank and offering victims inheritances from fictitious family members, then requesting upfront payments for delivery fees and taxes. The Justice Department emphasized the case as part of its commitment to prosecuting transnational criminals targeting vulnerable seniors and reminded elderly Americans to report fraud to the National Elder Fraud Hotline at 1-833-FRAUD-11.
reviewjournal.com · 2025-12-08
An 80-year-old Las Vegas woman, Barbara Trickle, pleaded guilty to organizing a prize notice fraud scheme that defrauded thousands of consumers, predominantly elderly victims, by mailing millions of fraudulent notices claiming they had won cash prizes requiring $20-$50 fees to collect. Operating from 2012 to February 2018, Trickle used her printing and mailing business to produce the notices and stole over $15 million before the scheme was shut down by federal authorities.
justice.gov · 2025-12-08
Okezie Bonaventure Ogbata, a Nigerian national, was sentenced to 97 months in prison for leading a transnational inheritance fraud scheme that defrauded over 400 elderly and vulnerable U.S. victims of more than $6 million. The scheme involved sending personalized letters falsely claiming victims had inherited money from deceased overseas relatives and requesting upfront payments for delivery fees and taxes before the funds could be released. The defendants used a network of U.S.-based money mules to collect victim payments, with no victim ever receiving any actual inheritance funds.
justice.gov · 2025-12-08
**Summary:** Barbara Trickle, 80, of Las Vegas pleaded guilty to conspiracy to commit mail and wire fraud for operating a prize notice scam from 2012 to February 2018 that defrauded thousands of consumers, predominantly elderly, of over $15 million. Trickle and her co-conspirators mailed fraudulent notices claiming victims had won cash prizes and would receive them upon paying $20-$50 fees; victims instead received worthless reports or trinkets and were subsequently inundated with additional fraudulent mailings. The scheme was shut down following a U.S. Postal Inspection Service investigation and court order.
amac.us · 2025-12-08
Diversion scams targeting seniors are on the rise, with a cluster of burglaries in Philadelphia where two perpetrators worked together—one posed as a worker (fence or electrician) to distract elderly victims while the other burglarized their homes, stealing over $250,000 in jewelry, cash, and valuables. Seniors are particularly vulnerable due to having financial savings, living alone, and often being trusting, making them attractive targets. Protection strategies include verifying unknown visitors' identities through official channels, maintaining home security (locked doors, peepholes, good lighting), never opening doors to strangers, and immediately reporting suspicious activity to police.
justice.gov · 2025-12-08
Billy Ray Thomas Jr., an assistant branch manager at Neches Federal Credit Union in Texas, pleaded guilty to bank fraud conspiracy and was sentenced to 34 months in federal prison on April 29, 2025. Thomas conspired with another individual to fraudulently obtain loans for approximately 30 credit union members—including family and acquaintances—without their knowledge or consent, causing losses exceeding $1.3 million in documented restitution. Thomas was ordered to repay $1,363,825.18 to victims who either did not sign loan documents or unknowingly signed documents they did not understand while trusting Thomas in his position of authority.
guardian.ng · 2025-12-08
Okezie Bonaventure Ogbata, a 36-year-old Nigerian man, was sentenced to 97 months in prison for operating an international inheritance fraud scheme that defrauded over 400 elderly victims of more than $6 million. The scheme involved sending personalized letters falsely claiming to be from a Spanish bank offering inheritance money, then requiring victims to pay fees and taxes upfront before receiving funds that never materialized. The investigation involved international collaboration between U.S. law enforcement agencies and authorities from Portugal, the UK, Spain, and Europol.
yahoo.com · 2025-12-08
Barbara Trickle, 80, pleaded guilty to conspiracy to commit mail and wire fraud for operating a printing and mailing business that produced millions of fraudulent prize notices between 2012 and 2018. The scheme targeted thousands of Americans, particularly elderly and vulnerable victims, who were told they could claim large cash prizes by paying fees of $20-$50, resulting in approximately $15.5 million in total losses. Trickle faced a maximum sentence of 20 years in prison and a minimum fine of $250,000.
thenevadaglobe.com · 2025-12-08
An 80-year-old Las Vegas woman, Barbara Trickle, pleaded guilty to orchestrating a nationwide prize scam that defrauded over $15 million from victims between 2012 and 2018, primarily targeting senior citizens through fake lottery and sweepstakes notices requesting fees of $20-$50. No victims received promised prizes, and federal authorities shut down her printing and mailing business operation through multiple search warrants. The Department of Justice encourages seniors and fraud victims to report similar scams to the National Elder Fraud Hotline at 1-833-FRAUD-11.
news3lv.com · 2025-12-08
An 80-year-old Las Vegas woman pleaded guilty to conspiracy to commit mail and wire fraud for operating a printing and mailing business that produced millions of fake prize notices between 2012 and 2018, defrauding victims of over $15 million. The scheme instructed recipients to pay $20-$50 fees to claim non-existent cash prizes, then either sent worthless items or inundated victims with additional fraudulent mailings. The defendant supervised the lasering, printing, and mailing of the notices targeting vulnerable community members.
bitcoinke.io · 2025-12-08
Nigeria's Ministry of Foreign Affairs raised alarm over a surge in "cyber slavery" and organized scam operations targeting vulnerable Nigerian youth, particularly those lured abroad with false job promises in crypto-related fields. Perpetrators force victims into "419 cyber-scam factories" where they conduct mass fraudulent communications under coercive conditions targeting international victims. Recent enforcement actions include the EFCC's arrest of 792 individuals in December 2024 (including 148 Chinese nationals training Nigerian accomplices in romance and investment scams) and an ongoing investigation into the CBEX crypto platform collapse affecting users across multiple African countries.
thesuntimes.com · 2025-12-08
Tyra Brown, a 27-year-old customer service representative at a New Hampshire credit union, was sentenced to 36 months in prison for stealing $301,674.89 from at least 10 elderly customers using unauthorized access to their personal information and account details. Brown exploited her position of trust to transfer victim funds via wires, electronic debits, and Zelle, targeting elderly account holders she knew were unfamiliar with electronic banking.
regtechtimes.com · 2025-12-08
Barbara Trickle, an 80-year-old Las Vegas resident, pleaded guilty to operating a prize notice scam that defrauded over $15 million from thousands of elderly victims across the United States between 2012 and 2018. Using her printing and mailing company, Trickle designed and distributed millions of fraudulent letters claiming recipients had won cash prizes but needed to pay small upfront fees ($20-$50) to claim them; victims received only cheap trinkets or bogus reports and were repeatedly targeted with additional mailings. The U.S. Postal Inspection Service shut down the operation in February 2018, and authorities warn the public to avoid responding
finance.yahoo.com · 2025-12-08
In 2024, the FBI's Internet Crime Complaint Center reported $9.3 billion in losses from cryptocurrency-related scams across 149,686 complaints, a 66% increase from the previous year and the highest figure in IC3 history. Individuals aged 60 and older were the most affected demographic, accounting for over 33,000 complaints and $2.8 billion in losses—nearly one-third of total losses—with younger age groups also significantly impacted. Scammers employed tactics including investment fraud, social engineering, phishing, and impersonation of legitimate platforms, with victims often manipulated via social media and dating apps into transferring funds
etvbharat.com · 2025-12-08
Truecaller announced Scamfeed, a new in-app community feature that allows users to anonymously report and discuss scams in real-time, creating a crowdsourced early warning system against fraud. The platform enables users to share experiences with various scam types—including phishing, impersonation, dating scams, and financial fraud—and check if others have reported similar suspicious activity, helping users identify red flags and protect themselves and their networks.
local.aarp.org · 2025-12-08
This article describes an educational event held by AARP Virginia that presented information about six types of scams targeting older adults, paired with wine tastings. The scams covered included cryptocurrency fraud (where victims are tricked into depositing cash at crypto ATMs), jury duty scams (imposter calls claiming arrest is imminent unless fines are paid), and romance scams, with volunteers providing recognition strategies and prevention advice for each.
asianjournal.com · 2025-12-08
Nevada officials warned seniors about rising SSA impersonation scams, following an FTC report showing Americans lost a record $12.5 billion to fraud in 2024, with adults aged 70 and older heavily targeted. Scammers use spoofed numbers and fear tactics—claiming suspended Social Security numbers or unpaid taxes—to extract personal information, with Filipino-American seniors particularly vulnerable due to language barriers and cultural factors. Authorities recommend hanging up on suspicious calls, never providing personal information unsolicited, and reporting incidents to the FTC or Nevada Attorney General's office, while community groups advocate for multilingual prevention resources.
10tv.com · 2025-12-08
Ohio seniors lost an average of $18,000 each to scammers in the past year, totaling $54 million statewide, with artificial intelligence making fraud increasingly sophisticated. Rising threats include fraudulent text messages mimicking legitimate banks and federal agencies, as well as data breaches at senior care facilities, such as a breach affecting over 50,000 people at HCF Management. Authorities recommend seniors monitor credit regularly, file fraud reports to help track criminal trends, and consider credit freezes or free credit monitoring to protect themselves.
bankingjournal.aba.com · 2025-12-08
The Financial Crimes Enforcement Network (FinCEN) targeted Cambodian firm Huione Group as a primary money laundering concern, proposing to cut off its access to U.S. correspondent accounts. Huione Group allegedly served as a key conduit for laundering billions of dollars stolen from Americans through romance scams, investment fraud, cyber heists linked to North Korea, and other cybercrimes perpetrated by Southeast Asian criminal organizations.
nypost.com · 2025-12-08
A Cambodia-based gang with North Korean ties operated the Huione Group, which facilitated "pig butchering" romance scams and other cyber fraud against Americans, stealing at least $4 billion between August 2021 and January 2025. The scammers used dating apps, social media, and professional networking sites to pose as romantic interests or business contacts, convincing victims to invest in cryptocurrency or transfer funds for fake business ventures. The U.S. Treasury Department announced a proposed rule to sever Huione's access to the American financial system, with one victim, Beth Hyland, losing $26,000 after being manipulated into sending bitcoin payments through ATMs to a Nigeria
clickorlando.com · 2025-12-08
A 92-year-old from Sun City Center, Florida was defrauded of over $800,000 through a combined bank and romance scam that began in June 2022, with the victim's funds transferred through cryptocurrency platforms, peer-to-peer transactions, and ATM withdrawals. Otiz Swinton, 37, was arrested in March 2025 after being spotted using the victim's Wells Fargo card at a store; he also orchestrated five counterfeit checks totaling $14,300 and unauthorized credit card charges exceeding $5,000, with evidence showing accomplices continued the fraud while Swinton was incarcerated. S
Romance Scam General Elder Fraud Financial Crime Cryptocurrency Payment App Check/Cashier's Check
justice.gov · 2025-12-08
The U.S. Attorney's Office for Southern Illinois partnered with the Du Quoin Public Library to host a fraud prevention seminar educating seniors on common scams targeting them via phone, text, email, and online platforms, including schemes where fraudsters impersonate federal agents to extort money. Prosecutors from the Southern District of Illinois presented information on fraud schemes, federal cases, and tips for detecting scams, noting that local scammers have previously defrauded seniors in the region of substantial portions of their life savings.
oswegocountytoday.com · 2025-12-08
In 2023, more than 4,300 older New Yorkers were defrauded, losing over $200 million, as older Americans nationwide lost $3.4 billion to scams. The Trump administration is attempting to dismantle the Consumer Financial Protection Bureau (CFPB) by firing approximately 90% of its staff, including nearly all employees of the Office of Financial Protection for Older Americans, which provides fraud education and counseling to seniors. This action threatens to leave vulnerable older adults without critical protections and resources, despite the CFPB having returned over $21 billion in compensation to Americans harmed by financial fraud since its creation.