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in Crypto Investment Scam
timesofindia.indiatimes.com
· 2025-12-08
This article discusses Indian political parties' election manifestos regarding senior citizens' welfare. While BJP and Congress have included some provisions—such as railway concessions, pension increases, healthcare expansion, digital literacy training, and age-friendly infrastructure—NGO representatives argue that neither party has fully committed to implementing the National Policy on Senior Citizens, which encompasses financial security, protection against abuse, and comprehensive support services. The article notes that digital scams targeting seniors are a particular concern, with some elderly voters considering NOTA votes if their demands for complete policy implementation are not assured.
popsci.com
· 2025-12-08
Online romance scams resulted in over $1.1 billion in losses during 2023, with victims losing an average of $2,000 each across all age groups and demographics, though experts believe actual scam incidents are significantly underreported due to victim embarrassment. Match Group, which operates popular dating platforms including Tinder, Match.com, and OkCupid, faces ongoing regulatory scrutiny for inadequate fraud prevention despite claims of $125 million invested in safety measures and removal of 96% of scam accounts daily. The FTC advises users to avoid sending money to online contacts they haven't met in person, conduct reverse image searches on photos, and report suspected scams to
wjla.com
· 2025-12-08
FBI Washington Field Office officials warn of "pig butchering" cryptocurrency scams, where perpetrators develop long-term virtual relationships with victims to manipulate them into sending money. The scam is prevalent in the D.C. area and can affect individuals and families of various backgrounds.
headtopics.com
· 2025-12-08
A joint FBI and Highmark Health initiative reports that elder fraud targeting people 60 and older is rising, with over 88,000 complaints involving romance scams, tech support fraud, and grandparent schemes, though most cases go unreported due to shame and uncertainty about reporting. The report emphasizes that seniors are vulnerable targets because they tend to be trusting, and scammers use emotional manipulation—invoking joy, hope, or fear—to extract money and personal information, often victimizing the same person repeatedly. Key prevention advice includes hanging up on unsolicited calls, never providing financial information to unknown callers, and reporting suspected fraud to law enforcement and financial institutions.
wtae.com
· 2025-12-08
The FBI Pittsburgh field office and Highmark are warning of a surge in scams targeting people over 60, which represents a $3 billion annual problem nationally affecting thousands of victims. Common schemes include romance scams, tech support scams, and grandparent scams, all designed to exploit vulnerable populations. The agencies recommend never sharing personal or financial information with unknown callers, resisting pressure to act quickly, verifying caller identity through independent contact with authorities, and reporting incidents to law enforcement and financial institutions.
uk.finance.yahoo.com
· 2025-12-08
In 2023, people over 60 lost $3.4 billion to scams, an 11% increase from 2022, with 101,068 complaints filed—a 14% rise in reporting. Tech support fraud was the most common scam type targeting seniors, while investment scams caused the greatest financial losses at over $1.2 billion; the FBI urged financial institutions to take greater responsibility in protecting elderly customers and victims to report losses promptly for faster recovery.
journal-topics.com
· 2025-12-08
The Prospect Heights Police Department hosted a community education event where officers shared crime statistics and fraud prevention advice with residents. Police highlighted that over 2.6 million seniors are victims of identity theft annually and more than 13% of older Americans experience financial fraud each year, with the top scams being cryptocurrency, family emergency, and romance schemes. Residents were advised to never share banking information, verify URLs, avoid unsolicited contacts, and report suspected scams to ftc.gov or reportfraud.ftc.gov.
forbes.com
· 2025-12-08
Real estate scams are surging, with the FBI's IC3 receiving 9,521 complaints in 2023 resulting in $145.2 million in losses, primarily through business email compromise (BEC) schemes targeting homebuyers and sellers. Notable cases include a Connecticut homebuyer who nearly lost $426,000 after receiving a spoofed email posing as their attorney, and a Texas realtor who identified a fraudulent property listing scheme. Common tactics include fake closing/wire fraud emails, rental listing scams, and home warranty schemes, with scammers exploiting the busy March-June real estate season by impersonating attorneys, lenders, and property owners to steal money
news.wjct.org
· 2025-12-08
A 37-year-old Chinese man named Xu Bochun was trafficked to a compound in Myanmar operated by a Chinese conglomerate, where he was forced to conduct "pig butchering" cryptocurrency scams targeting Chinese and European victims via fake social media accounts. Xu and approximately 90 other captives were coerced to solicit victims to send increasing amounts of cryptocurrency (USDT/Tether) under false promises of investment returns, with threats of sale to violent cartels for failure to meet quotas. This scam operation emerged from Chinese-run illegal casinos and gambling zones in Southeast Asia that, facing labor shortages during COVID-19, shifted to
fox17online.com
· 2025-12-08
An FBI report found that Americans over 60 lost $3.4 billion to scams in 2023, with fraud complaints against seniors rising 14% year-over-year. Tech support scams generated the most complaints, while investment scams proved costliest, with 6,000 victims each losing over $100,000. Experts recommend seniors verify payment methods, seek second opinions before transactions, and recognize that many scams are technology-based despite myths that older adults don't use digital platforms.
wsbtv.com
· 2025-12-08
Georgia seniors lost $92.4 million to online fraud in 2023, representing an 18% increase in cyber crimes and fraud, with investment fraud ($32 million), tech support scams ($12 million), and romance scams ($10 million) being the top offenses affecting more than 2,100 victims. The FBI advises seniors to avoid sending money to unknown individuals, verify requests through legitimate vendors, and report incidents to their banks and trusted contacts, as these scams can cause severe emotional and financial damage.
foxbusiness.com
· 2025-12-08
In 2023, Americans over 60 lost more than $3.4 billion to fraud schemes, with 101,068 complaints filed—an 11% increase from 2022—according to an FBI report compiled by the Internet Crime Complaint Center. Tech support scams were the most common fraud type targeting this age group, followed by personal data breaches, romance scams, and investment fraud, with investment crimes alone costing victims over $1.2 billion. Cryptocurrency was involved in $1.1 billion of losses, while the FBI noted these figures likely underestimate actual fraud against seniors since only about half of all complaints included age data.
nbcnews.com
· 2025-12-08
At least 101,000 Americans ages 60 and older lost an average of $33,915 each to digital fraud in 2023, totaling approximately $3.4 billion in losses, according to FBI data. Cryptocurrency scams accounted for nearly 40% of total losses ($1.33 billion), often preceded by romance or confidence schemes, while call center and tech support scams remained the most common complaint type. Some victims reported devastating consequences including selling homes, depleting retirement accounts, and in severe cases, suicide due to financial losses and shame.
timberjay.com
· 2025-12-08
The FBI's Internet Crime Complaint Center reported a 14% increase in elder fraud complaints in 2023, with financial losses exceeding $3.4 billion and an average victim loss of $33,915. Over 101,000 seniors aged 60+ reported fraud to IC3, with investment scams, tech support scams, and romance scams being among the most common schemes, while cryptocurrency scams affected over 12,000 seniors. The report notes that actual fraud rates are likely higher due to underreporting, and scammers are increasingly using artificial intelligence to create convincing deepfakes and chatbots to target elderly victims.
click2houston.com
· 2025-12-08
Cryptocurrency investment scams—often initiated through dating apps, LinkedIn, or text messages—have caused over $82.7 million in losses across the Houston area in the last 16 months, with the FBI receiving new reports approximately weekly. Scammers build romantic relationships with victims over weeks or months, then convince them to invest in fake cryptocurrency schemes that show fraudulent gains; one Harris County man lost over $800,000 after being lured through a dating app. Once funds are transferred, most money moves overseas within minutes to southeast Asia and west Africa, making recovery extremely difficult, though one victim was ordered restitution of less than 20 percent of his losses.
nbcphiladelphia.com
· 2025-12-08
Romance scammers stole $1.1 billion from consumers in 2023, targeting people across all backgrounds through classic manipulation tactics. NBC10 reporter Tracy Davidson documented her interaction with a scammer posing as "James Williams," a military surgeon supposedly working for the United Nations in Syria, who built trust over two weeks before requesting $14,000 in bitcoin to fund a fake vacation certificate—a scheme involving fake UN emails, money mules, and grammatical red flags that Secret Service investigators confirmed followed standard romance scam protocols. The article illustrates how scammers operate as organized operations using multiple identities and aliases, targeting lonely individuals through relationship-building techniques before requesting money.
winchesterstar.com
· 2025-12-08
An FBI report revealed that scammers stole over $94 million from Virginia residents over age 60 in 2023, representing a 56% increase from the prior year and moving the state into the top 10 nationally for elder fraud losses. Tech support fraud was the most commonly reported scam type, with victims over 60 losing more than all other age groups combined, some resorting to remortgaging homes and emptying retirement accounts to cover losses. The significant increase has been partially attributed to increased virtual activities and isolation following the COVID-19 pandemic, with experts noting that many cases go unreported to law enforcement.
abc13.com
· 2025-12-08
Scammers are operating a sophisticated cryptocurrency investment scheme that has seen exponential growth in Houston, using fake websites and apps that appear legitimate to trick victims into investing in non-existent cryptocurrencies. The perpetrators contact victims via email, phone, social media, or personal connections, starting with small requests (e.g., $5,000) and progressively requesting larger amounts while showing fake investment returns, ultimately draining victims' entire savings before disappearing. In 2023, this scam cost victims billions of dollars nationally and $300 million in Texas.
ualrpublicradio.org
· 2025-12-08
A 37-year-old Chinese man was trafficked to a compound in Myanmar under the guise of a theater job, where he was forced to conduct "pig butchering" cryptocurrency scams targeting Chinese and European victims by posing as romantic interests and soliciting increasingly large amounts of crypto currency in exchange for promised investment returns. The forced scam operations emerged from Chinese-run illegal economic zones that originated as money laundering and gambling operations in Southeast Asia, and according to a University of Texas study, such scams have stolen approximately $75 billion worldwide. The scammer himself became a victim of human trafficking after COVID-19 disrupted traditional gambling operations and led criminal syndicates to resort to
pymnts.com
· 2025-12-08
In 2023, elder fraud complaints increased 14% with losses rising 11%, as individuals age 60+ reported 101,068 scams totaling $3.4 billion, averaging $33,915 per victim, according to the FBI's Internet Crime Complaint Center. Tech support scams were the most frequently reported fraud type (17,696 victims), while investment scams proved costliest at $1.2 billion in losses, followed by tech support scams ($590 million) and business email compromise scams ($382 million). The actual numbers are believed to be significantly higher due to underreporting and incomplete victim age data in crime reports.
waff.com
· 2025-12-08
The FBI reports that seniors over 60 are prime targets for fraud, with Alabama residents in this age group losing over $33 million to scams. Elder fraud complaints increased 14% in 2023, with tech scams, personal data breaches, and romance scams—particularly the "grandparent scam"—leading the way, as scammers increasingly use urgency and fear tactics to pressure victims into sending money or revealing sensitive information. Experts recommend that seniors and their family members hang up immediately when pressured for banking information, gift cards, or cryptocurrency, as these are hallmarks of fraud.
consumerfinancemonitor.com
· 2025-12-08
FinCEN's 2023 Financial Trend Analysis examined 155,415 Bank Secrecy Act filings reporting approximately $27 billion in elder financial exploitation (EFE) between June 2022 and June 2023, with scams accounting for 80% of reports and theft for 20%, where family members—particularly children—perpetrated 40% of theft cases. The analysis found that perpetrators primarily use unsophisticated methods avoiding direct contact with financial institutions, such as account takeover (22% of scams), tech support scams (10%), and romance scams (9%), with funds typically transferred via checks, wires, and online transfers, averaging
wlos.com
· 2025-12-08
According to an FBI report, elder fraud complaints increased 14% in 2023, with victims aged 60 and over reporting over 101,000 incidents and suffering approximately $3.4 billion in total losses (averaging $33,915 per victim). Tech support scams were the most common type, while investment scams proved costliest at over $1.2 billion, with criminals increasingly using cryptocurrency to facilitate fraud. Local authorities emphasize that victims should verify payment requests directly with companies before sending money to prevent falling victim to these scams.
goldrushcam.com
· 2025-12-08
In 2023, the FBI reported that Americans over 60 lost $3.4 billion to fraud—an 11% increase from 2022—with tech support scams and investment schemes causing the most damage at $600 million and $1.2 billion respectively. Call center schemes were particularly devastating for seniors, accounting for nearly $770 million in losses and reportedly leading some victims to remortgage homes, drain retirement accounts, and in extreme cases, take their own lives. California reported the highest losses nationally at $620 million across over 11,000 complaints from elderly victims, and the FBI recommends seniors verify unsolicited contacts, resist pressure to act quickly, and report suspecte
infosecurity-magazine.com
· 2025-12-08
Romance investment scams have surged dramatically, with the FTC reporting increases from 11,000 victims in 2016 to 70,000 in 2022, resulting in $1.3 billion in cumulative losses, and the FBI documenting $652.5 million in romance scam losses in 2023 alone. Scammers create fake online profiles posing as wealthy professionals or socialites, build emotional connections with victims, and then manipulate them into investing in fake opportunities or trading platforms where funds are immediately lost. Key warning signs include requests for money or cryptocurrency, pressure to keep relationships secret, and persistent avoidance of in-person meetings or video calls.
njbiz.com
· 2025-12-08
The FBI's Internet Crime Complaint Center released its 2023 Elder Fraud Report showing a 14% increase in complaints and 11% increase in losses targeting Americans over 60. New Jersey received 2,049 complaints from victims over 60, resulting in $104.1 million in losses (8th highest nationally), though the FBI notes actual fraud and losses likely exceed reported figures due to underreporting. FBI leadership emphasized that combatting elder financial exploitation remains a priority and urged the public to report all fraud incidents to help identify trends and support investigations.
tampabay.com
· 2025-12-08
Over 50 elderly Americans in Broward County fell victim to lottery scams between 2020-2021, losing more than $6.6 million collectively after being told they won prizes and asked to pay upfront fees for shipping and taxes. Florida ranked second nationally for elder fraud in 2023 with residents over 60 losing nearly $300 million, reflecting a broader U.S. trend where elderly victims lost $3.4 billion that year to investment fraud, romance scams, tech-support scams, and government impersonation schemes. The crimes remain significantly underreported due to victim embarrassment and fear of losing independence, with experts estimating only one-
ladailypost.com
· 2025-12-08
In 2023, 759 New Mexico residents over age 60 lost more than $17.7 million to online fraud, with the costliest scams being confidence/romance schemes ($4.9 million), investment fraud ($4.6 million), and tech support scams ($3.1 million). The FBI emphasizes that older adults are vulnerable targets due to financial stability, potential isolation, and lower awareness of online threats, and urges seniors and families to educate themselves about these scams and report incidents through ic3.gov or their local FBI office.
thegardenisland.com
· 2025-12-08
Hawai'i seniors over 60 lost $27.96 million to fraud schemes in 2023, a dramatic increase from $10 million in 2021, with 453 complaints filed to the FBI's Internet Crime Complaint Center, ranking the state 37th nationally. The most common scams targeting older Americans include investment fraud, tech support schemes, romance cons, and extortion, with nationwide losses exceeding $3.4 billion in 2023. Law enforcement officials urge seniors and their families to report suspected fraud to the FBI and educate themselves about these schemes, noting that many cases go unreported.
wgal.com
· 2025-12-08
The FBI warns that tech support fraud is the most commonly reported scam targeting seniors nationwide, where scammers pose as tech representatives to access sensitive information, though investment scams caused the greatest financial harm with over $50 million in reported losses last year. To protect themselves, seniors should avoid unsolicited contacts, never open attachments from unknown sources, resist pressure to act quickly, and never share personal information or money with unverified people.
westerniowatoday.com
· 2025-12-08
An FBI report found that over 100,000 Americans aged 60 and older lost an average of $34,000 each to computer money scams in 2023, totaling more than $3.4 billion—an 11% increase from the previous year. Tech support scams were the most common fraud type, followed by data breaches, romance scams, non-payment schemes, and investment fraud, with over 12,000 victims reporting cryptocurrency was used to facilitate their scams.
digitalinformationworld.com
· 2025-12-08
The FBI reports that cyber scams targeting seniors aged 60 and above caused $3.4 billion in losses in 2023, an 11% increase from the previous year, with common schemes including tech support, investment, romance, and cryptocurrency fraud. Elderly victims averaged $34,000 in losses per person, with Florida and California experiencing particularly high losses ($620 million and $181 million respectively), and seniors are less likely to report these crimes due to embarrassment and underreporting. The FBI recommends seniors verify suspicious offers, avoid unknown contacts, and be wary of deals that seem too good to be true.
losalamosreporter.com
· 2025-12-08
In 2023, 759 New Mexico residents over age 60 lost more than $17.7 million to online fraud, with the costliest schemes being romance scams ($4.9 million), investment scams ($4.6 million), and tech support scams ($3.1 million). The FBI emphasizes that older adults are particularly vulnerable due to financial stability and potential isolation, and urges prevention through awareness and family education, with victims encouraged to report incidents to the Internet Crime Complaint Center at ic3.gov.
finance.yahoo.com
· 2025-12-08
This article is an educational piece about common banking scams in 2024, reporting that consumers lost over $10 billion to fraud in 2023. It describes seven prevalent scams—including fake bank websites, malicious apps, phishing communications, check washing, check overpayment schemes, money transfer fraud, and account takeover attacks—and provides protective measures for each, such as verifying bank legitimacy through official channels, downloading only reputable apps, and monitoring bank statements regularly.
m.economictimes.com
· 2025-12-08
Two investment scam cases involved fraudsters using WhatsApp and Facebook to lure victims into fake trading platforms, with one man losing 60 lakh rupees before being hit with a false 1.71 crore rupee tax demand, and a Faridabad woman losing 7.6 crore rupees after being directed through social media links to fraudulent investment groups. In both cases, victims received initial modest returns to build trust before being prevented from withdrawing funds or facing unexpected demands. Police arrested 16 individuals across multiple Indian cities and determined the scammers were converting stolen funds into cryptocurrency and channeling them to China.
homelandprepnews.com
· 2025-12-08
In 2023, Americans over 60 lost more than $3.4 billion to fraud—an 11 percent increase from 2022—with tech support scams ($600 million), investment fraud ($1.2 billion), and call center schemes ($770 million) being the most costly. California alone reported over 11,000 complaints totaling $620 million in losses, and the FBI noted that some victims were forced to remortgage homes, deplete retirement accounts, or take their own lives due to financial devastation. The FBI recommends seniors verify contact information independently, avoid quick decisions, never share personal information with suspected scammers, and report fraud immediately to law enforcement
colorado.edu
· 2025-12-08
An international student was targeted by a job offer scam in which a fraudster posing as a recruiter conducted an interview, sent a fake offer letter, requested the student's passport, and then sent a fraudulent check to be deposited with instructions to purchase work equipment. The article advises job seekers to verify companies online, consult trusted advisors, never pay upfront fees, and be wary of employers requesting check deposits, while victims should immediately contact their financial institutions to report fraud and attempt to reverse transactions.
northjersey.com
· 2025-12-08
U.S. Rep. Josh Gottheimer introduced bipartisan legislation seeking $60 million in federal funding over six years to help states combat senior scams through enforcement, technology, and education initiatives. The bill comes as seniors lose over $3.4 billion annually to scams involving impersonation, fake deliveries, and social media fraud, with over 2,000 New Jersey seniors reporting scams to the FBI in 2023 alone. Gottheimer also plans to urge social media companies to add warning labels, flag scammers, and improve fraud reporting tools on their platforms.
wthitv.com
· 2025-12-08
Americans over age 60 are increasingly targeted by sophisticated online scammers who stole $3.4 billion from older Americans in the previous year—an 11% increase from the prior year—with seniors filing over 100,000 complaints to the FBI. Scammers use various schemes including romance scams, investment scams, tech support scams, and cryptocurrency scams, often impersonating legitimate companies or institutions to trick victims into giving away their savings. To protect themselves, older adults should verify unexpected messages, avoid acting under pressure, double-check suspicious requests, and immediately contact trusted contacts or authorities if they suspect fraud.
consumerwide.com
· 2025-12-08
Nigeria is a global center for romance scams, particularly targeting foreign victims, with the Economic and Financial Crimes Commission (EFCC) reporting 1,129 victims and approximately $14 million in losses in 2021. The EFCC identified rapid growth in cyber-crime among young Nigerians, noting that societal acceptance of these crimes—including parental support of scammers—enables the criminal activity to flourish despite existing laws. Romance scams extend internationally, with documented cases involving Nigerian perpetrators defrauding victims across the US, UK, and Europe, ranging from financial extortion to cases resulting in victim suicides and prison sentences.
aarp.org
· 2025-12-08
According to a new AARP survey, 42 percent of American adults have experienced fraud, a dramatic increase from 15 percent a decade ago, with Americans reporting $10 billion stolen in 2023 to the FTC. Adults 50 and older express higher concern about fraud (63 percent worry significantly), and older adults lose more money on average to scams than younger people, with Black Americans experiencing the highest victimization rate at 56 percent. On a positive note, fraud awareness is improving, with 91 percent of Americans now understanding that fraud can happen to anyone and 96 percent recognizing gift card payment requests as scams.
hindustantimes.com
· 2025-12-08
A cryptocurrency trader with wallet "0x1E" lost $68 million in wrapped bitcoin (WBTC) through an address poisoning scam, where a perpetrator replicated the first and last six characters of a legitimate wallet address to trick the victim into sending funds to a fraudulent address. Address poisoning is a sophisticated attack that exploits the similarity of wallet addresses (up to 42 characters long) to deceive users into overlooking differences in the middle characters. The incident was confirmed by security firm Cyvers Alerts.
thecyberwire.com
· 2025-12-08
This podcast episode discusses job board scams and social engineering tactics targeting job seekers. The hosts highlight techniques scammers use to impersonate legitimate companies and government agencies, including spoofed phone numbers and vague claims about background investigations, and emphasize the importance of verifying caller information independently rather than calling back suspicious numbers directly.
justice.gov
· 2025-12-08
Federal law enforcement agencies completed the Money Mule Initiative, taking action against over 3,000 money mules who facilitate fraud schemes by transmitting stolen funds to international fraudsters. The operation resulted in approximately 2,970 warning letters to individuals (many unknowingly recruited through romance or lottery scams) and criminal charges against more than 20 individuals knowingly facilitating fraud. The initiative specifically targets schemes that harm vulnerable populations, including older Americans victimized by lottery fraud, romance scams, and grandparent scams.
tradingview.com
· 2025-12-08
A cryptocurrency whale lost approximately $71 million worth of Wrapped Bitcoin on May 3, 2024, after falling victim to an address poisoning scam, where the fraudster created lookalike addresses to trick the victim into sending funds to wrong accounts. In an unusual turn of events, the scammer began returning the stolen funds, with approximately $34.7 million recovered within days through transfers from multiple addresses, though the motivation behind the return remains unclear. As of the article's writing, over $45 million had been returned, with recovery ongoing due to the funds being distributed across numerous addresses.
marketplace.org
· 2025-12-08
This educational episode of "Marketplace Tech" examines how financial scams work and how to identify them, featuring the experience of Shannon from Minnesota who lost over $80,000 to an impersonation scam. A scammer posing as a sheriff's deputy falsely claimed Shannon missed a federal court appearance and threatened jail time, extracting multiple "bail bond" payments totaling $80,000 through threats and false legal information. The episode explains that scammers use phone number spoofing technology to impersonate legitimate officials and conduct research on targets to create convincing scripts that lend authenticity to their schemes.
cryptotimes.io
· 2025-12-08
Authorities in Austria, Cyprus, and Czech Republic dismantled a cryptocurrency fraud ring that defrauded investors of at least €10 million between December 2017 and February 2018 by promoting a fake initial coin offering (ICO) and non-existent cryptocurrency. The scammers accepted Bitcoin and Ethereum payments while falsely claiming to have proprietary software technology, then shut down all operations after accumulating funds. Six Austrian members were arrested, and authorities seized €500,000 in cryptocurrencies, €250,000 in cash, and luxury assets, though the total number of victims remains undetermined as investigations continue.
cryptotimes.io
· 2025-12-08
A cryptocurrency user lost nearly $68 million in an address poisoning scam but recovered over 96% of the stolen funds after negotiating with the attacker, who agreed to return 22,960 ETH (approximately $65.7 million) in exchange for a 10% fee. The victim's security team identified leads about the attacker's identity, which aided in the negotiation. The incident underscores the importance of verifying wallet addresses before sending cryptocurrency and demonstrates that calm communication can sometimes lead to fund recovery in crypto scams.
cryptotimes.io
· 2025-12-08
Forensic Risk Alliance (FRA) was selected by the DOJ to oversee cryptocurrency exchange Binance Holdings Ltd. following its guilty plea to money-laundering and trade sanctions violations, with access to Binance's records and employees to ensure compliance with the plea agreement. The DOJ rejected law firm Sullivan & Cromwell for the role, reportedly due to the firm's prior work with collapsed exchange FTX, though Sullivan & Cromwell remains a candidate for a separate five-year Treasury Department monitorship focused on Binance's suspicious transaction reporting.
shorenewsnetwork.com
· 2025-12-08
Federal law enforcement agencies completed the Money Mule Initiative, an annual campaign that resulted in criminal charges against over 20 individuals and warning letters to approximately 2,970 money mules involved in facilitating fraud schemes. The initiative targeted networks that transmit stolen funds from fraud victims to international fraudsters, with cases including two men accused of laundering $4.5 million from romance scams and business email compromises targeting elderly victims, and five defendants who acted as couriers collecting cash from grandparent scam victims. The agencies emphasized the importance of public education to prevent unknowing individuals from becoming money mules, as many are initially victimized by romance or lottery scams before being manipulated into ass