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Search across 19,276 articles about elder fraud. Filter by fraud type, payment mechanism, or keywords.
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in Financial Crime
nbcnewyork.com
· 2025-12-08
A 96-year-old widow, Violet Evelyn Alberts, was murdered in her Montecito, California home in May 2022 as part of an alleged murder-for-hire plot connected to financial exploitation. Pauline Macareno, identified as the central figure, had manipulated Alberts starting in 2020 through forged documents and fraudulent reverse mortgage schemes to gain control of her valuable property, and was sentenced to six years in prison for fraud; three additional men were arrested on murder and conspiracy charges in connection with the case.
usatoday.com
· 2025-12-08
A 96-year-old California woman, Violet Evelyn Alberts, was murdered in May 2022 as part of a murder-for-hire scheme orchestrated by Pauline Macareno, who had befriended the vulnerable widow and exploited her through financial fraud, forged documents, and a fraudulent reverse mortgage scheme to gain control of her property. Four suspects were arrested in connection with the case, with Macareno sentenced to six years in prison for elder abuse and fraud, while three others face murder and conspiracy charges; authorities determined the motive was to accelerate Alberts' death to fraudulently obtain her estate. Alberts was found dead from
myfox28columbus.com
· 2025-12-08
Prince Oduro, a 34-year-old from Westerville, Ohio, was sentenced to 102 months in prison for conducting romance scams and money laundering schemes between 2015 and 2020. During his employment at JPMorgan Chase Bank, Oduro stole personal information from at least five customers and used it to launder over $1 million obtained through online romance scams; he continued committing fraud even after his initial arrest in February 2022, resulting in an additional $709,500 in losses. He was ordered to pay $1.8 million in restitution for his crimes.
boston25news.com
· 2025-12-08
A 96-year-old woman, Violet Evelyn Alberts, was murdered in Montecito, California in May 2022 as part of a murder-for-hire plot initiated by Pauline Macareno, who had been defrauding the victim using fraudulent real estate documents to access her house and money. Macareno was arrested in June 2022 and sentenced to six years in prison for elder abuse and fraud, while three accomplices (Harry Basmadjian, Henry Rostomyan, and Ricardo MartinDelCampo) were arrested in connection with the murder-for-hire scheme after Macareno decide
krocnews.com
· 2025-12-08
Scammers are using AI-generated deepfakes to target real estate transactions in Minnesota, impersonating agents, lenders, and other professionals to trick buyers and sellers into revealing sensitive information that allows them to redirect funds. The National Association of Realtors is urging industry professionals to increase cybersecurity training and implement verification protocols, including confirming communications through known contact information, using encrypted channels, and adding watermarks to documents. A recent survey found that 60% of home buyers and sellers received little to no education about wire fraud threats from their real estate professionals.
cnn.com
· 2025-12-08
A 96-year-old California woman, Violet Evelyn Alberts, was murdered in May 2022 as part of an elaborate scheme involving reverse-mortgage fraud and murder-for-hire orchestrated by Pauline Macareno, who sought to illegally gain control of the victim's valuable Montecito home. Four individuals have been arrested: Macareno (sentenced to six years in prison for fraud in 2022 and now facing additional charges), Ricardo MartinDelCampo and Henry Rostomyan (charged with murder and conspiracy), and Harry Basmadjian (charged with conspiracy); investigators determined Alberts died by asphyx
yahoo.com
· 2025-12-08
A 96-year-old California woman, Violet Evelyn Alberts, was killed in May 2022 as part of an elaborate murder-for-hire and reverse-mortgage scam orchestrated by Pauline Macareno, who sought to gain control of Alberts' valuable Montecito home. Macareno forged documents and established fraudulent entities to illegally take over the property, then arranged for her murder when authorities determined Alberts' asphyxiation was a homicide; four people have been arrested, including Macareno (sentenced to six years in prison for fraud in 2022) and three men charged with murder and conspiracy.
wtop.com
· 2025-12-08
Fairfax County, Virginia police warned residents about ongoing scam calls impersonating bank fraud departments or police officers that pressure victims into purchasing gift cards or making Bitcoin ATM deposits, with reported losses ranging from $10,000 to $31,100 per victim. Police advise hanging up suspicious calls, independently contacting financial institutions through legitimate channels, and never sharing personal information with callers claiming to represent banks or authorities.
thestarphoenix.com
· 2025-12-08
Saskatoon Police Service partnered with the Electronic Recycling Association to offer free secure destruction of electronics and confidential documents on March 14 as part of Fraud Prevention Month awareness efforts. The initiative comes as Canadian fraud losses reached $567 million in 2023, with investment scams, spear phishing, and romance scams causing the most financial damage, while fraud methods have evolved to include cryptocurrency schemes and sophisticated phishing techniques targeting both individuals and institutions.
golocalprov.com
· 2025-12-08
Two men from Florida and New York—Jason Rhodes, 34, and Robert Munoz, 29—were arrested in Warwick, Rhode Island in connection with a "grandparent scam" targeting elderly residents in Warwick and Coventry after police executed a controlled money delivery on March 8, 2024. During a search of a hotel room, detectives seized evidence linking the suspects to multiple grandparent scams and a large sum of cash, with the investigation ongoing. Warwick Police are urging other potential victims throughout Rhode Island to report similar scams to their local police departments.
dailyhodl.com
· 2025-12-08
Prince Oduro, a 34-year-old former JPMorgan Chase employee in Columbus, Ohio, was sentenced to 8.5 years in federal prison for stealing $1.8 million from bank customers through wire fraud and money laundering, while simultaneously operating an online romance scam where he posed as a soldier, medical patient, or gold dealer to manipulate victims into sending money. One victim alone lost approximately $400,000 after Oduro convinced her that her deceased husband had stolen valuable artwork. Oduro was initially arrested in 2022, rearrested in November 2023 for continuing his scams, and has been ordered to repay all stolen funds.
m.economictimes.com
· 2025-12-08
A Navi Mumbai builder lost Rs 60.6 lakh in an impersonation scam when a fraudster posed as the builder and sent fake bank details to the company accountant, who transferred the funds without verifying the instructions directly with the builder. Cyber police are investigating the case, though no arrests have been made yet.
fox7austin.com
· 2025-12-08
The Round Rock Police Department warned residents about scammers impersonating law enforcement officers and IRS representatives who contact victims via phone, email, or text to create urgency and extract personal or financial information using tactics like caller ID spoofing and threats of arrest. Police advised verifying caller identity through official agency numbers, never sharing personal information unsolicited, resisting intimidation tactics, and reporting suspected incidents to the Federal Trade Commission, while noting that legitimate government agencies never demand payment over the phone or via gift cards.
ottplay.com
· 2025-12-08
**"Bogus Phone Operators" Documentary**
A 44-minute documentary investigates call center scams operating from India (particularly Thane, Ahmedabad, and Gujarat) that target elderly people in the United States by impersonating government officials and IRS agents. In 2022 alone, these scams defrauded approximately 15,000 US citizens of $800 million, with perpetrators using various payment methods including cryptocurrency, gift cards, NFTs, and Hawala transfers to extract funds and inflict severe psychological harm on victims, including cases leading to suicide.
shorenewsnetwork.com
· 2025-12-08
Fei Liang was arraigned in Queens on charges related to a scheme that defrauded senior citizens across the United States of $628,278 through impersonation calls claiming to be from the Social Security Administration, banks, or vendors requesting fund transfers for "safekeeping." The 39-year-old Flushing resident faces multiple counts of criminal possession of stolen property and could receive up to 15 years in prison if convicted.
people.com
· 2025-12-08
In May 2022, 96-year-old Violet Alberts was found dead in her Montecito, California home and ruled a homicide by asphyxiation; authorities later determined her death was part of a murder-for-hire plot following financial fraud and elder abuse. Pauline Macareno was sentenced to six years in prison for forging documents and establishing fraudulent entities to gain control of Alberts' assets, while Henry Rostomyan and Ricardo Martin Del Campo were charged with murder and conspiracy to commit murder in connection with the scheme.
news.yahoo.com
· 2025-12-08
Violet Evelyn Alberts, a 96-year-old California widow, was murdered in May 2022 in a murder-for-hire plot orchestrated as part of a larger financial exploitation scheme. Pauline Macareno, who befriended the vulnerable elderly woman, engaged in elder abuse and fraud by forging documents to fraudulently acquire Alberts' property through a reverse mortgage scheme, then arranged her death to accelerate gaining control of her estate. Four suspects have been arrested and charged, with Macareno sentenced to six years in prison for fraud and the other three charged with murder and conspiracy to murder.
insideedition.com
· 2025-12-08
Violet Alberts, a 96-year-old widow living in Montecito, California, was defrauded of her multi-million-dollar home (valued between $4-11 million) through an elaborate scheme beginning with a fraudulent reverse mortgage offer from Pauline Lisa Macareno, who then orchestrated a murder-for-hire plot that resulted in Alberts' death by asphyxiation in May 2022. Macareno was sentenced to six years in prison on elder abuse and fraud charges and faces additional murder solicitation charges, while three men arrested in connection with the actual murder (Ricardo MartinDelCampo, Harry Bas
interpol.int
· 2025-12-08
INTERPOL's Global Financial Fraud Assessment reveals that organized crime groups are increasingly using AI, large language models, cryptocurrencies, and phishing-as-a-service models to conduct sophisticated fraud campaigns targeting vulnerable people worldwide at relatively low cost. Key fraud trends include investment fraud, romance baiting (which combines romance and investment schemes), advance payment fraud, and business email compromise, with human trafficking networks increasingly forced into call centers to execute these schemes. The report emphasizes the urgent need for international law enforcement cooperation, data sharing, and public-private partnerships to combat this escalating global threat; since 2022, INTERPOL's I-GRIP mechanism has helped intercept over $500 million in criminal proceeds
irs.gov
· 2025-12-08
Prince Oduro of Westerville was sentenced to 102 months in prison for wire fraud and money laundering schemes spanning multiple years, including stealing bank customer information while employed at JPMorgan Chase Bank and operating online romance scams that defrauded victims of over $1.8 million. Oduro continued committing romance fraud even after his initial arrest, causing an additional $709,500 in losses, and was ordered to pay approximately $1.8 million in restitution. Victims were deceived by elaborate stories involving medical emergencies, military service, overseas construction projects, and inherited assets, with one victim alone losing $390,300.
pbn.com
· 2025-12-08
A Georgia woman, Syretta Scherer, was sentenced to 46 months in federal prison for her role in a romance scam that defrauded seniors across multiple states, including Rhode Island, of at least $5.8 million. Scherer laundered nearly $1.1 million of the stolen proceeds by creating a fake company called Precise Carriers and opening multiple bank accounts at different banks to receive victim funds, primarily from widows who were deceived into sending money for fabricated medical emergencies. Two co-conspirators, Sade Mills and Dominique Golden, also pleaded guilty or were sentenced in connection with the scheme.
justice.gov
· 2025-12-08
**Summary:**
Syretta Scherer, a 42-year-old Georgia woman, was sentenced to 46 months in federal prison on March 7, 2024, for her role in a romance scam conspiracy that defrauded seniors across multiple states of at least $5.8 million. Scherer laundered approximately $1.1 million of the scheme's proceeds by creating a fake company called Precise Carriers, opening multiple bank accounts at different banks, and recruiting others to deposit victim funds that were primarily stolen from widows through online romance scams conducted via app-based communication platforms between February 2018 and November 2019.
patch.com
· 2025-12-08
Naperville police reported over $750,000 in cryptocurrency losses since February, with four cases involving residents aged 43-83 in March alone. Scammers employed various tactics including hacking, romance scams, arrest scams, and sextortion to manipulate victims into sending funds. Police advise residents to avoid sharing personal information, resist pressure to act immediately, consult trusted individuals before responding, and refuse requests for payment via cryptocurrency, gift cards, or wire transfers.
shorenewsnetwork.com
· 2025-12-08
Syretta Scherer, 42, from Georgia was sentenced to nearly four years in federal prison for her role in a multi-state romance scam that defrauded seniors of approximately $5.8 million. Scherer laundered close to $1.1 million of the conspiracy's nearly $3 million in stolen funds by creating fake bank accounts under a fictitious company and directing victims—primarily widows—to send money via wire transfer or mail based on fabricated emergencies. Operating from February 2018 to November 2019, she used structured transactions across multiple banks and recruited accomplices to open additional accounts to evade detection.
nzherald.co.nz
· 2025-12-08
An Auckland man lost $569,000 in a romance scam after meeting a woman on Tinder who posed as a Singaporean investor and convinced him to send money to a Hong Kong bank account for a Bitcoin investment scheme. Despite the victim's complaints that Westpac should have flagged red flags before processing the large international transfer, the bank initially denied liability but later made a confidential "goodwill" settlement payment. The case highlights the challenge victims face when scammers operate offshore—police declined to investigate, the Banking Ombudsman refused involvement due to the amount exceeding their $350,000 threshold, and recovery proved impossible.
keysnews.com
· 2025-12-08
Americans lost a record $10 billion to scams and fraud in 2023, a 14% increase from 2022, with investment scams causing the largest losses at $4.6 billion followed by imposter scams at $2.7 billion, according to FTC data from 2.6 million consumer complaints. Fraudsters increasingly used cryptocurrency and bank transfers, while imposter schemes targeting vulnerable populations through government and business impersonation saw significant growth, with Florida ranking among the top states for per capita fraud complaints at 1,563 per 100,000 residents.
patch.com
· 2025-12-08
Syretta Scherer, 42, of Georgia was sentenced to 46 months in federal prison for her role in a multi-state romance scam that defrauded seniors of at least $5.8 million. Scherer laundered approximately $1.1 million of the stolen funds by creating a fake company called Precise Carriers and opening multiple bank accounts to receive money that scammers had convinced victims to send under false pretenses such as medical emergencies. From February 2018 to November 2019, she structured deposits across multiple banks and recruited others to open accounts to further obscure the money trail.
todayonline.com
· 2025-12-08
A 29-year-old woman in Singapore was charged with cheating after allegedly scamming victims of Taylor Swift concert tickets on the online marketplace Carousell, defrauding one victim of S$350 in September and believed to be involved in additional similar offences totaling over S$24,000 in losses. She accepted payments via PayNow or bank transfer but failed to deliver the tickets and became unreachable. The incident occurred amid a broader wave of Taylor Swift ticket scams that affected at least 334 people with total losses of S$213,000 between January and February.
freepressjournal.in
· 2025-12-08
This article describes the conviction of Mukhtar Ansari, a mafia don-turned-politician, who received a life imprisonment sentence from a Varanasi court in a 30-year-old case involving fraudulent procurement of an arms license using forged signatures of government officials. Ansari was fined Rs 2,02,000 and faces multiple concurrent sentences under various sections of the Indian Penal Code and Arms Act, marking his second life sentence under the current Yogi government. This case is not related to elder fraud or elder abuse and appears to be outside the scope of an elder fraud research database.
wvnews.com
· 2025-12-08
**Summary:**
Joseph Beach, a 54-year-old from Inwood, West Virginia, pleaded guilty to wire fraud for stealing $253,867.12 from his elderly father, a veteran in care facility, by misappropriating his father's disability, retirement, and Social Security benefits while serving as his fiduciary. The case was investigated by the Veterans Affairs Office of Inspector General, U.S. Office of Personnel Management, and Social Security Administration, with prosecution by the U.S. Attorney's Office.
justice.gov
· 2025-12-08
Joseph Beach, a 54-year-old West Virginia man, pleaded guilty to wire fraud after stealing $253,867.12 from his elderly father while serving as his fiduciary, misappropriating veteran's disability, retirement, and social security benefits for personal use. The victim, who resides in a veterans' care facility, was defrauded by his own son over an extended period. The case was prosecuted by the U.S. Attorney's Office and investigated by the Veterans Affairs Office of Inspector General, the U.S. Office of Personnel Management, and the Social Security Administration.
winnipegfreepress.com
· 2025-12-08
The "grandparent scam" has significantly increased across Canada, targeting seniors through phone calls from scammers impersonating grandchildren in crisis situations (legal trouble, illness, etc.) to pressure victims into sending money urgently via courier or bank withdrawal. In 2022, this scam resulted in losses exceeding $9.2 million nationally, with Manitoba victims losing over $313,000. Protection strategies include not answering unknown numbers, calling trusted family members to verify urgent requests, and remembering that police never demand bail money directly.
cbc.ca
· 2025-12-08
A 79-year-old Manitoba senior lost $16,000 in a "grandparent scam" in which a caller impersonated her grandson, claiming he had been arrested after a car crash and needed bail money; a second caller posed as his lawyer, instructing her not to tell anyone and arranging courier pickup of cash from her home. Since the start of 2024, approximately 13 similar scams have been reported in southern Manitoba, resulting in roughly $70,000 in losses, with scammers increasingly targeting less tech-savvy victims by requesting in-person cash withdrawals rather than online transfers. A 32-year-old courier who was intercepting the final payment
newstalkkgvo.com
· 2025-12-08
Montana State Auditor and Commissioner of Insurance Troy Downing is conducting statewide educational tours to help elderly residents and caregivers recognize and avoid financial scams, which account for 70-75 percent of fraud cases investigated by his office. The tours highlight common scams targeting seniors, including schemes that pressure victims to pay quickly using gift cards or cryptocurrency, and are being held across multiple Montana communities to reach elderly populations, families, caregivers, and law enforcement.
wfdd.org
· 2025-12-08
The North Carolina Department of Justice Consumer Protection Division received over 21,000 complaints in the past year, with scams being a major category. The top three scams in the Triad region included online purchase fraud (255 reports, ~$150,000 in losses), employment scams ($70,000 lost through fake job postings), and phishing schemes targeting personal and financial information via email, text, and phone. Police recommend caution with suspicious contacts and note that voluntarily sent funds to scammers are typically unrecoverable.
cbsnews.com
· 2025-12-08
The Federal Trade Commission identifies 10 common lies scammers use to defraud victims, including creating false urgency, isolating targets from trusted advisors, making arrest threats, and instructing victims to move money, buy gift cards or cryptocurrency, or withdraw cash. These tactics are increasingly sophisticated and sometimes aided by artificial intelligence, as exemplified by a recent $50,000 scam targeting a New York Magazine columnist. The FTC advises people to hang up, delete messages, and report suspicious contact to ReportFraud.ftc.gov.
pymnts.com
· 2025-12-08
Organized "pig butchering" scam operations in Southeast Asia force tens of thousands of trafficked individuals to conduct romance and cryptocurrency investment fraud targeting foreign nationals, with scammers building trust over weeks before stealing victims' money through fake investment websites and deepfake technology. Federal authorities seized nearly $9 million in one such scheme, and financial institutions are increasingly deploying AI and machine learning solutions to combat these evolving threats, with nearly 70% of large banks now using these technologies to detect fraud.
koreajoongangdaily.joins.com
· 2025-12-08
A Swiss man lost $149,000 to a Korean romance scammer who posed as a woman via Instagram starting in December 2023, claiming the funds were needed for travel and family emergencies before eventually avoiding in-person meetings. The victim, who had received $250,000 from his late father's life insurance, traveled to South Korea in February 2024 to investigate and worked with police to catch the scammer—a man in his 30s—who was arrested and indicted on fraud charges. Romance scam consultations in Korea increased dramatically from 22 cases in 2019 to 88 cases in 2023, with total damages rising to $3.01 million
justice.gov
· 2025-12-08
The U.S. Attorney's Office in Boston filed a civil forfeiture action to recover approximately $2.3 million in cryptocurrency from a "pig butchering" romance scam that defrauded a Massachusetts resident of over $400,000 in spring 2023. The seized cryptocurrency from two Binance accounts was traced to fraud affecting 37 victims across the United States, with the scammer using manipulative online tactics to build trust before luring the victim into fraudulent cryptocurrency investments.
cnbc.com
· 2025-12-08
The Federal Trade Commission refunded $4.1 million to 27,584 consumers who were defrauded by student debt forgiveness scams operated by Mission Hills Federal and Federal Direct Group since 2014. The scammers charged illegal upfront fees, falsely promised to lower monthly payments or eliminate balances, and often intercepted consumers' loan payments after claiming to take over loan servicing. To protect themselves, borrowers should recognize red flags like urgency, unrealistic promises, and requests for personal information, and instead use legitimate free assistance programs such as income-driven repayment plans offered by the Department of Education.
longisland.com
· 2025-12-08
Elizabeth M. Motti, 55, of Farmingville, was indicted for Grand Larceny in the Second Degree for stealing approximately $440,000 from her elderly parents between April 2017 and November 2018, using their debit cards to make ATM withdrawals at Jake's 58 Casino and cash withdrawals from their bank accounts. Motti was serving as her parents' caretaker after her mother's surgery when she committed the thefts, which she used for gambling. She was arraigned in March 2024 and released on her own recognizance, with her next court date scheduled for April 2024.
panhandlenewsnetwork.com
· 2025-12-08
Joseph Beach, 54, of Inwood, West Virginia pleaded guilty to wire fraud for misappropriating $253,867.12 in veteran's disability, retirement, and social security benefits from his elderly father while serving as his fiduciary. Beach, who was responsible for managing his father's finances while the father received care at a veterans' facility, instead used the funds for his own personal benefit. The case was prosecuted by the U.S. Attorney's Office with assistance from the Veterans Affairs Office of Inspector General, U.S. Office of Personnel Management, and Social Security Administration.
straitstimes.com
· 2025-12-08
On March 14, Philippine police rescued 875 people from a sprawling scam operation in Bamban, north of Manila, after acting on a tip from a Vietnamese escapee; the compound, disguised as an internet gaming company, employed victims of human trafficking who were forced to conduct love scams, cryptocurrency scams, and other schemes under threat of physical harm and with confiscated passports. Eight suspects were arrested on charges of illegal detention and human trafficking, and the rescued workers included 432 Chinese nationals, 371 Filipinos, 57 Vietnamese, and others from multiple countries. The operation reflects a regional crisis where scam centers across Southeast Asia have generated billions of dollars while exploiting
arabianbusiness.com
· 2025-12-08
"Pig butchering" romance scams, where criminals build fake romantic relationships to defraud victims of money and cryptocurrency, have surged 85-fold in revenue since 2020, generating approximately $75 billion in illicit gains with victims losing roughly $1 billion to related approval phishing scams since May 2021. These scams exploit loneliness by using messaging apps and social media to establish trust before directing victims toward fraudulent investment schemes, while a single scam address stole an estimated $44.3 million and a U.S. bank CEO lost $47 million to such a scam. The scam ecosystem is compounded by a humanitarian crisis, as many
glasgowcourier.com
· 2025-12-08
Montana Attorney General Austin Knudsen warned residents during National Consumer Protection Week (March 3-9) about three rising scams: law enforcement impersonation scams where fraudsters call claiming victims have arrest warrants and demand immediate payment via wire transfer or gift cards; cryptocurrency investment scams that use threats of arrest to convince people to deposit money into crypto ATMs, which cannot be recovered; and tech support scams involving fake pop-up alerts that trick users into calling scammers who then take control of computers and demand payment. The state's Office of Consumer Protection advises Montanans to avoid third-party payment apps and cryptocurrency ATMs, verify business information, and consult trusted contacts before sending money.
winnipeg.ca
· 2025-12-08
The "grandparent scam" has significantly increased across Canada, with scammers impersonating grandchildren in distress to pressure seniors into sending money urgently, often through couriers. In 2022, Canadian seniors lost over $9.2 million to this scam, with Manitoba losses exceeding $313,000. Protection strategies include ignoring unknown callers, verifying requests by calling trusted family members, and remembering that police never demand money directly for bail.
goldrushcam.com
· 2025-12-08
Two suspects were arrested in Moorpark, California on March 7, 2024, for identity theft and conspiracy charges after intercepting packages containing significant sums of cash mailed by elderly victims from Texas, South Dakota, and Florida who had fallen victim to scams. Detectives identified the scheme after the first victim's adult child reported their elderly mother had mailed currency to the suspects' address, leading investigators to surveil and apprehend the two men when they arrived to retrieve a third package from a Florida victim. The suspects face multiple felony charges including grand theft, conspiracy, theft by false pretenses, and identity theft from an elder or dependent adult.
fox23maine.com
· 2025-12-08
Maine seniors lost $12.7 million to fraud in 2022, a dramatic increase from $2 million in 2021, with victims over 60 nationwide experiencing skyrocketing losses according to FBI data. One Maine senior fell victim to a tech support scam involving deceptive popups claiming she had a virus and requesting access to her savings account information. Experts emphasize that education and awareness are critical to protecting Maine's aging population, the oldest in the nation, from increasingly prevalent fraud schemes.
wltx.com
· 2025-12-08
A New York Magazine financial columnist lost $50,000 to an elaborate con scheme, prompting the Federal Trade Commission to publicize ten common lies fraudsters use to manipulate victims into sending money, including creating false urgency, isolating victims from trusted advisors, making arrest threats, and directing victims to move funds via gift cards, cryptocurrency, precious metals, or cash transfers. The FTC warns that any pressure to act quickly, secrecy, threats of legal consequences, or instructions from strangers regarding financial transfers are reliable indicators of fraud, and recommends victims hang up, delete communications, and report suspected scams to ReportFraud.ftc.gov.
scmp.com
· 2025-12-08
Hong Kong police arrested 122 suspects (80 men and 42 women, ages 19-80) during a 25-day operation targeting money laundering networks linked to scams totaling HK$91.5 million. The suspects, including unemployed individuals, domestic helpers, drivers, and housewives, were accused of providing "stooge accounts" and SIM cards to fraud syndicates in exchange for hundreds or thousands of dollars to collect and launder scammed funds. Police warned residents never to lend, rent, or sell their bank accounts to others, as doing so facilitates fraud and money laundering operations.