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Search across 22,013 articles about elder fraud. Filter by fraud type, payment mechanism, or keywords.
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in Financial Crime
observer-reporter.com
· 2025-12-08
Older adults are frequent targets of financial exploitation through both remote scams and personal relationships. A Fayette County case exemplified the risks of power of attorney arrangements: a woman was charged with over 1,600 felony counts for allegedly stealing more than $690,000 from an elderly dementia patient over several years after being granted power of attorney in 2015. Experts recommend carefully vetting who receives power of attorney, monitoring financial accounts regularly when mentally capable, and remaining vigilant against "romance scams," which cause the largest monetary losses to older adults, typically through internet-based schemes using false personas.
hindustantimes.com
· 2025-12-08
A 37-year-old Mumbai lawyer was robbed of ₹5 lakh by two men posing as crime branch officials who approached him at an ATM and forced him into a car after inspecting his bag. The Khar police have registered a case against the unidentified perpetrators, who used the pretense of conducting an investigation to extract the money that the lawyer was carrying to deposit into customer accounts for his family's tourism business. This incident mirrors a similar scam where an IT professional from Vasai lost ₹1.41 crore to fake law enforcement officers using "digital arrest" tactics.
nbcnews.com
· 2025-12-08
In 2023, U.S. victims reported $5.6 billion in losses to cryptocurrency scams, with people aged 60 and older filing over 16,000 complaints accounting for $1.6 billion of those losses. The majority of losses ($4 billion, a 53% increase from 2022) came from "pig butchering" investment scams, where fraudsters build fake romantic or friendship relationships with victims before convincing them to invest in bogus cryptocurrency platforms, often using crypto ATMs. Older adults are disproportionately targeted because they typically hold more wealth and are less familiar with cryptocurrency technology, according to the FBI and AARP.
chicago.suntimes.com
· 2025-12-08
Shalender Singh lost nearly $20,000 in an investment scam after a stranger contacted him on WhatsApp claiming to represent a legitimate investment firm and promising 30% returns through cryptocurrency. The scammer built trust over months by providing accurate market advice initially, added Singh to investor chat groups, and showed fake growth on a fraudulent app, but blocked him when he attempted to withdraw funds. According to the Better Business Bureau, investment scams are surging—particularly cryptocurrency and romance-based schemes—with reported losses reaching a median of $4,000 in 2023 and nearly $6,000 by mid-2024, with 80% of victims losing money and scammers
infosecurity-magazine.com
· 2025-12-08
Approximately 3,000 international victims of fraud facilitated by Western Union will receive a second distribution of $18.5 million in reimbursements, bringing the total compensation to over $420 million for more than 175,000 victims since the fund's establishment. The frauds, stemming from a 2017 deferred prosecution agreement, involved grandparent scams, lottery/sweepstakes scams, and romance scams, with Western Union having agreed to forfeit $586 million total after acknowledging it aided and abetted these schemes through complicit employees who failed to prevent fraudster activity. The Justice Department anticipates additional distributions in the coming months as it works
justice.gov
· 2025-12-08
Tosha Lantz, 31, of Texas was sentenced to 6 months in federal prison for defrauding an elderly West Virginia man of $32,400 through unauthorized bank transfers and fraudulent credit card openings using his personal information. Lantz will also serve three years of supervised release following her incarceration.
wrcbtv.com
· 2025-12-08
Karl Hampton, a 65-year-old Chattanooga man, was sentenced to 60 months in prison for defrauding an 86-year-old widow with dementia of over $1.2 million between 2018 and 2020. After meeting the victim while working as an exterminator, Hampton gained her trust, obtained Power of Attorney, and systematically drained her bank accounts, took out a $500,000 line of credit in her name, and used her credit cards to purchase luxury items including vehicles and jewelry. Hampton was ordered to pay $1.2 million in restitution, and his wife Deborah pleaded guilty to money laun
news.slashdot.org
· 2025-12-08
Americans lost $5.6 billion to cryptocurrency fraud schemes in 2023, with the FBI receiving nearly 70,000 complaints involving bitcoin, ether, and other digital currencies. Investment fraud was the most prevalent scheme, accounting for $3.96 billion of the total losses, and the decentralized nature of cryptocurrency combined with irreversible transactions makes recovery of stolen funds extremely challenging.
vice.com
· 2025-12-08
Americans lost more than $5.6 billion to cryptocurrency scams in 2023, representing 45 percent increase from 2022 and nearly half of all financial fraud losses that year, according to an FBI report. Investment scams accounted for nearly 71 percent of crypto losses ($4 billion), with fraudsters also using call centers, government impersonation, and dating sites to target victims; notably, people over 60 filed nearly 17,000 complaints and lost $1.6 billion, making them the most victimized age group despite crypto's popularity with younger generations. The FBI attributes crypto scams' prevalence to the technology's decentralized nature, irrevers
cbc.ca
· 2025-12-08
Scammers in Lethbridge, Alberta used AI voice-changing software to impersonate grandchildren in fraud calls, convincing victims to send money for emergencies; two men were arrested after allegedly collecting funds as local couriers for the scheme. The technology requires only a three-second audio clip from social media to recreate a victim's loved one's voice, making the scam more convincing and harder to detect than traditional grandparent schemes. Police note that organized criminals quickly adopt new technologies, and law enforcement struggles to keep pace with rapidly evolving cyber tools, though tracking financial transfers remains an effective investigative approach.
bankinfosecurity.com
· 2025-12-08
In 2023, cryptocurrency scams surged dramatically in the United States, with victims reporting $5.6 billion in losses—a 45% increase from 2022—across more than 69,000 complaints to the FBI's Internet Crime Complaint Center. While seniors over 60 were most frequently targeted, people aged 30-39 also experienced significant losses, with investment scams involving bitcoin and other virtual currencies accounting for nearly 71% of total losses; fraudsters typically built rapport with victims through social media and email before moving conversations to encrypted platforms. Cryptocurrency kiosks were increasingly exploited in fraud schemes, with over 5,500 complaints involving $189 million in losses
coindesk.com
· 2025-12-08
Investors lost a record $5.6 billion to crypto scams in 2023, a 45% increase from 2022, with investment fraud schemes accounting for $4 billion of losses, according to FBI data. While crypto complaints represented only 10% of total fraud reports, they comprised nearly half of all financial losses; victims over age 60 reported the highest losses at $1.24 billion. The FBI warned that many scammers operating these "pig butchering" schemes are human trafficking victims forced to conduct fraud operations from compounds in Southeast Asia.
justice.gov
· 2025-12-08
The U.S. Department of Justice distributed $18.5 million from forfeited Western Union funds to approximately 3,000 fraud victims, representing the sixth distribution under the Western Union Remission Fund. Through two phases, the fund has now distributed over $420 million to more than 175,000 victims who received full compensation for losses caused by fraud schemes that Western Union aided and abetted, including grandparent scams and lottery/sweepstakes schemes targeting seniors. Western Union agreed to forfeit $586 million total following a 2017 deferred prosecution agreement for violations including the Bank Secrecy Act and wire fraud facilitation.
gantnews.com
· 2025-12-08
Rep. Mike Armanini partnered with the Pennsylvania Department of Banking and Securities to host two Senior Scam Jam educational events in the 75th District designed to teach older adults how to identify and avoid common scams that lead to identity theft and financial fraud. The interactive seminars took place on September 17-18 in DuBois and Ridgway, with support from local district attorneys' offices, and covered red flags for spotting scams and procedures for reporting suspected fraud.
mybuckhannon.com
· 2025-12-08
The U.S. Attorney's Office for West Virginia launched an educational outreach campaign to protect seniors from financial fraud, with U.S. Attorney William Ihlenfeld conducting awareness events at senior living communities across the Northern District. The initiative addresses the prevalence of elder fraud in West Virginia, including scams by both strangers and trusted individuals like family members and caretakers, emphasizing that seniors' trustworthiness and accumulated savings make them vulnerable targets. Additional educational events are planned at assisted living facilities and senior communities as part of the Department of Justice's Elder Justice Initiative.
timesofindia.indiatimes.com
· 2025-12-08
A woman in Chandigarh was defrauded of Rs 2.3 lakh by online scammers who promised her a job after she found their contact number on Google; police registered a case. The article also highlights similar online job scams affecting other victims, including a man who lost Rs 49.33 lakh to fraudsters posing as UK company recruiters, and a woman arrested for defrauding over 50 people of Rs 3 crore with false promises of healthcare jobs in Ireland.
flaglerlive.com
· 2025-12-08
An 83-year-old Maryland woman named Mae fell victim to tech support fraud when she clicked on a fake Safari warning, which led scammers to manipulate her into purchasing gift cards worth thousands of dollars over 10 hours. The case illustrates a broader problem: an estimated $8 billion is stolen annually from seniors age 60 and older through stranger fraud, with gift cards becoming an increasingly common payment method for criminals because they lack consumer protections similar to credit and debit cards. The article reveals systemic failures in federal regulation, inadequate retailer safeguards, and the profitable role that technology companies and retailers play in the gift card fraud ecosystem, where "everybody but the victim makes money."
forbes.com
· 2025-12-08
A 52-year-old North Carolina musician named Michael Smith was arrested and charged with fraud for allegedly using artificial intelligence to create hundreds of thousands of songs, then streaming them through bot accounts on platforms including Spotify, Apple Music, and YouTube Music to fraudulently generate over $10 million in royalty payments between 2017 and 2024. Federal authorities describe the scheme as "brazen fraud" and the first of its kind involving artificially inflated music streaming, with Smith working alongside unnamed co-conspirators including an AI music company CEO and music promoter. The scam diverted millions in royalties that should have been paid to legitimate musicians and rights holders.
ketv.com
· 2025-12-08
**Type:** Publishers Clearing House Scam / Elder Fraud
**Victim:** Monty Thompson, Iowa resident
**Outcome:** Monty lost over $8,000 in two months and died by suicide on July 24th after being scammed.
Monty Thompson was targeted by offshore scammers claiming he had won millions of dollars and a Ford F-150 from Publishers Clearing House, but was required to pay taxes and fees upfront before receiving his prize. After losing over $8,000 and facing continued contact from the scammers (who called over 20 times), Monty took his own life. The Iowa Attorney
finance.yahoo.com
· 2025-12-08
Chester Frilich of Concord, California lost over $200,000 to scammers posing as Xfinity and FTC agents who claimed he was under investigation for wire fraud and convinced him to transfer funds through couriers and UPS. By withdrawing money from Certificate of Deposit and IRA accounts to pay the scammers, Frilich incurred approximately $30,000 in early withdrawal penalties and taxes, which the IRS now threatens to collect through a lien on his home. The article explains how early withdrawals from tax-advantaged accounts can create additional financial liability beyond the fraud itself.
decripto.org
· 2025-12-08
On September 2, 2024, Ghanaian authorities arrested 487 people (257 women and 230 men) connected to QNet, a Malaysia-based pyramid scheme operated by founder Vijay Eswaran that lures victims with false promises of high investment returns while relying primarily on recruitment rather than legitimate product sales. The arrests occurred despite a November 2022 court ban on QNet's operations in Ghana and followed a February 2023 crackdown that netted 60 arrests, highlighting the scheme's persistence and suspected links to human trafficking and labor exploitation in the country.
aarp.org
· 2025-12-08
Penny Mashburn signed up for magazine subscriptions thinking she was supporting a school fundraiser, but the scam led to years of telemarketer harassment and charges that escalated from $39 to $199 per subscription across multiple companies, ultimately costing her much of her savings. Penny and her sister Nancy's investigation into the fraud helped expose a 20-year conspiracy that defrauded over 150,000 victims nationwide of millions of dollars, ultimately leading them to testify in federal court to help shut down the operation.
finance.yahoo.com
· 2025-12-08
Scammers are operating fake websites and social media channels to sell counterfeit or unverified Ozempic to consumers, resulting in an estimated $6 million in losses from approximately 9,000 victims in just the first five months of 2024 on a single platform alone. Victims lose $700 per transaction on average for fraudulent one-month supplies, while exposing themselves to serious health risks from unregulated products that lack proper safety testing and medical oversight. Experts warn that losses could exceed $100 million annually across multiple platforms, with the scam targeting people seeking to circumvent drug shortages or reduce costs.
newpittsburghcourier.com
· 2025-12-08
Elder fraud losses reached $3.4 billion in 2023 (a 14% increase from 2022), with January-May 2024 showing $1.6 billion in losses—a double-digit increase—according to FBI Internet Crime Complaint Center data. In Houston, Keith Jones was indicted for allegedly defrauding a 92-year-old dementia patient out of his home by falsely claiming property tax obligations and coercing him to sign deed documents worth approximately $30,000. Experts emphasize that reporting fraud, community awareness, and education are critical to protecting vulnerable seniors from increasingly sophisticated scams targeting the elderly, particularly in communities of color
hindustantimes.com
· 2025-12-08
A USC Dornsife study published in Cerebral Cortex found a correlation between vulnerability to financial scams and early-stage Alzheimer's disease, specifically linking poor financial decision-making to thinning of the entorhinal cortex—a brain region that shows early signs of Alzheimer's. Researchers examined adults aged 70 and older with no clinical cognitive impairments using MRI scans and financial vulnerability assessments, finding that those susceptible to financial exploitation had measurably thinner entorhinal cortexes. The study suggests that assessing financial decision-making skills in older adults may help identify early cognitive decline, though financial vulnerability alone should not be considered a definitive indicator
noozhawk.com
· 2025-12-08
This educational article examines how financial fraudsters are becoming increasingly sophisticated through advanced tools like AI, with seniors (ages 60+) being particularly vulnerable targets due to larger savings and lower tech awareness. The piece details common fraud methods including phishing scams, tech support/customer service impersonations, social media investment schemes, and romance scams, noting that the FTC reported $8.8 billion in fraud losses in 2022, with seniors accounting for over $3 billion despite filing fewer reports than younger victims. The article emphasizes that anyone—regardless of age or financial literacy—can fall victim to these schemes and advises vigilance against unsolicited communications, suspicious links, and impersonations of
theweek.com
· 2025-12-08
UK fraud complaints reached a record high of 8,734 cases from April to June, with nearly half upheld by the Financial Ombudsman Service, representing a significant increase from 6,094 complaints in the same period the previous year. Authorised push payment (APP) fraud accounted for over half the complaints, resulting in £459.7 million in losses in 2023, with scammers using impersonation, fake goods sales, and romance scams as primary methods. While banks voluntarily reimburse some victims, mandatory refund schemes were scaled back to £85,000 per claim following pressure from financial industry lobbyists, leaving many fraud victims with limited recourse
ministers.treasury.gov.au
· 2025-12-08
Australian Assistant Treasurer Stephen Jones discusses the government's efforts to combat scams that cost Australians $2.75 billion in losses last year, down from a peak of $3 billion but still a significant problem. He explains that scams have become increasingly sophisticated, involving overseas call centers and data operations, and outlines new legislation requiring banks, telecommunications companies, and social media platforms to implement stronger safeguards such as detecting out-of-character transactions and adding friction to payment systems. The government has also established a National Anti-Scam Centre to coordinate defensive efforts against these criminal operations.
fintech.global
· 2025-12-08
Financial fraud in Lithuania has surged dramatically, with reports increasing 13% since 2018 while case resolutions have plummeted over 70%, exacerbated by criminals' use of advanced technologies including AI deepfakes (which rose 3,000% between 2022-2023) and Authorised Push Payment (APP) fraud accounting for over 60% of financial crimes. Law enforcement and financial institutions are addressing the crisis through enhanced data-sharing protocols introduced in August 2024 and technological interventions such as transaction delays with warning messages, while also tackling obstacles like false identities and money laundering schemes. The collaboration between authorities, fintech companies, and financial institutions is critical
lovemoney.com
· 2025-12-08
Financial fraud complaints reached a record high in Q1 2024, with the Financial Ombudsman Service receiving 8,734 complaints (up 2,000 from the previous year), predominantly involving authorized push payment (APP) scams and romance fraud schemes. UK fraud losses totaled £1.2 billion in 2023, yet regulators are simultaneously scaling back victim compensation by reducing the reimbursement threshold from £415,000 to £85,000, leaving high-value fraud victims with significantly reduced protection. The article recommends six protective measures including hanging up on unsolicited calls, avoiding advance payment schemes, and being skeptical of pressure tactics and offers that sound too good to
justice.gov
· 2025-12-08
The U.S. Attorney's Office for the Northern District of West Virginia launched an educational outreach campaign to inform older residents about financial fraud and elder abuse risks. U.S. Attorney William Ihlenfeld conducted the first event at a Morgantown senior living community, highlighting how seniors' trustworthiness and accumulated savings make them vulnerable to both stranger scams and fraud by loved ones or caretakers. Additional awareness events are planned across the region as part of the Department of Justice's Elder Justice Initiative.
shorenewsnetwork.com
· 2025-12-08
On September 3, Middletown Police arrested 24-year-old Canadian Alan Labranche-Bolic for operating a bail bond scam in which he posed as a bail bonds agent and stole $20,000 from a local resident by falsely claiming their daughter had been arrested. Police set up a sting operation to apprehend Labranche-Bolic when he returned to collect a second $30,000 payment, and he now faces felony theft, attempted theft from a senior, and conspiracy charges.
paymentsjournal.com
· 2025-12-08
In August, crypto phishing attacks affected approximately 9,145 victims who collectively lost $66 million, a 215% increase from the previous month, though one victim's $55 million loss significantly inflated the total. Criminals use phishing tactics and "address poisoning" scams to trick victims into revealing private wallet keys or sending funds to fraudulent addresses, exploiting the anonymous nature of cryptocurrency which makes fraud investigation difficult. The article notes this is part of a broader trend of social engineering attacks where cybercriminals impersonate legitimate companies and brands to manipulate users into compromising their financial information.
rcrwireless.com
· 2025-12-08
Gen Z is more than four times as likely to fall for online scams than Baby Boomers, making them prime targets for fraudsters who exploit their heavy reliance on mobile devices and the critical importance of digital identity to their social and professional lives. Scammers use tactics including fake profiles and impersonation, phishing, social engineering, and deceptive websites to steal personal information, financial details, and identities for unauthorized purchases, account takeovers, and blackmail. The consequences of identity compromise are particularly severe for Gen Z due to the interconnected nature of their digital and real-world identities.
thecourierexpress.com
· 2025-12-08
State Rep. Mike Armanini hosted two Senior Scam Jam educational events in Pennsylvania's 75th District in September, partnering with the Pennsylvania Department of Banking and Securities to teach older adults how to recognize and avoid common scams related to identity theft and financial fraud. The interactive seminars, held in DuBois and Ridgway, covered red flags to spot fraud and how to report suspected cases, with support from local district attorneys' offices.
justice.gov
· 2025-12-08
Two Irish brothers, Patrick and Matthew McDonagh, pleaded guilty to conspiracy to commit wire fraud for stealing over $400,000 from elderly homeowners across the Northwest and Illinois by posing as home repair contractors. Using high-pressure tactics and false claims of necessary repairs (roof holes, foundation cracks), they defrauded victims in Washington, Oregon, and Illinois of hundreds of thousands of dollars, with one Shoreline, Washington homeowner losing $435,000. The brothers have agreed to make restitution totaling over $1 million to their victims and face sentencing in November 2024, with prosecutors recommending 26 months in prison for each defendant.
nbclosangeles.com
· 2025-12-08
Scammers targeted cable company customers with text messages offering 40% discounts on Spectrum bills, then requested payment via gift cards; René Flores fell victim and sent $300 in gift cards before a friend who worked at Spectrum identified it as fraud. The Better Business Bureau reported multiple victims of this scam, which exploits personal information scammers obtain and uses threats or discount promises to pressure victims into untraceable gift card payments. Spectrum confirmed they never request payment through gift cards or offer discounts requiring upfront payment.
abc7.com
· 2025-12-08
A California man lost nearly $200,000 in a sophisticated impersonation scam where perpetrators posing as Xfinity and Federal Trade Commission agents convinced him his computer had been hacked and used for illegal activities, instructing him to withdraw cash and gold multiple times under the guise of securing his funds. The scam unraveled when a CVS employee in Huntington Beach refused to accept an $8,500 cash package being picked up with fraudulent identification, but the victim was unable to recover that final shipment and now faces an additional $30,000+ in tax liability from the withdrawn retirement accounts. A Concord Police detective noted that the perpetrators' detailed knowledge of the
abc11.com
· 2025-12-08
Cryptocurrency investment scams, particularly "pig butchering" schemes where fraudsters pose as attractive, wealthy traders on social media and dating apps, continue to defraud victims of substantial sums. Two North Carolina victims—Jim Wilkerson of Cary and Pamela Magnum of Durham—lost approximately $790,000 and $70,000 respectively after being lured with fake platforms showing false returns that eventually disappeared when they attempted withdrawals. According to the FBI, crypto-investment scam losses increased from $3 billion in 2022 to $4.5 billion in 2023, with over $1.9 billion in losses reported in the first six
justice.gov
· 2025-12-08
Three individuals—Chidi Olujie, Jennifer Chibueze, and Jessica Nortey—were charged with conspiring to launder over $1 million in proceeds from romance scams and other online frauds between 2016 and 2019, allegedly using shell companies and fraudulent bank accounts to move stolen money. The defendants face up to 20 years in prison on money laundering conspiracy charges plus an additional two years for aggravated identity theft. The case was prosecuted by the U.S. Attorney's Office for the District of Columbia and investigated by the FBI's Washington Field Office.
mwakilishi.com
· 2025-12-08
A 69-year-old widower from Suffolk, England, was defrauded of approximately £100,000+ (Sh14.35 million) in a romance scam involving a fake Kenyan woman named "Anita" introduced by a friend who orchestrated the scheme. After being convinced to send money for supposed home improvements and wedding preparations, Lodge discovered the deception upon traveling to Nairobi and subsequently became homeless, sleeping at Heathrow Airport and shelters. The case exemplifies a broader trend of online romance fraud with significant psychological impacts on victims, including shame and mental health issues, as reported by law enforcement agencies tracking rising cybercrime rates globally.
globalnews.ca
· 2025-12-08
Police in southern Alberta arrested two men involved in an AI-enabled grandparent scam targeting seniors, where fraudsters used artificial intelligence to mimic victims' grandchildren's voices in emergency situations and convinced elderly residents to courier money to them. The scammers obtained voice samples from social media profiles, created AI mimics to call grandparents claiming urgent financial needs, and hired couriers (including the two arrested men) to collect cash. Authorities recommend seniors verify emergency calls with other family members before sending money.
wtov9.com
· 2025-12-08
Hancock County Savings Bank held an educational event for seniors to raise awareness about fraud and scam prevention, citing FBI data showing over 100,000 Americans aged 60+ become fraud victims annually. The bank highlighted emerging threats including charity scams, family emergency schemes, and AI-based voice cloning scams used for kidnapping hoaxes, and recommended protective measures such as not answering unknown numbers, avoiding suspicious links, hesitating before sending money, and consulting family members before responding to unexpected requests.
news4jax.com
· 2025-12-08
A Clay County, Florida sheriff's deputy intervened to stop a Bitcoin ATM fraud targeting an elderly woman who had been contacted by scammers posing as her bank after she mistakenly reached a fraudulent number while searching for Xfinity customer service. The scammers convinced her that fraudulent transactions required her to withdraw funds and deposit them via Bitcoin ATM to "protect" her money, a scheme that is irreversible and untraceable due to the scammers' use of virtual private networks and offshore locations. The Sheriff's Office has investigated 15-20 similar Bitcoin ATM fraud cases in recent months and is warning residents to be alert, as victims lose money immediately upon deposit with no
thelundreport.org
· 2025-12-08
Oregon's Medicaid Fraud Unit, which established a specialized team in 2023 focused on elder and disabled abuse cases, recently secured two criminal convictions: in-home caregiver Tara Saunders pleaded guilty to first-degree criminal mistreatment and received 3 days jail plus 36 months probation, while registered nurse Phyllis Dodds pleaded guilty to the same charge and received 3 years probation for neglecting and mistreating three patients at Pacifica Senior Care in Klamath Falls, one of whom died. The dedicated team has prosecuted seven individuals total and pursued civil settlements, as Medicaid fraud referrals
thepaypers.com
· 2025-12-08
During the 2023-24 financial year, Australians lost AUD 382 million to investment scams, with nearly half involving cryptocurrencies, according to the Australian Cyber Security Centre. Contrary to common assumptions, individuals under 50 now represent 60% of reported scam victims, with scammers using tactics like "pig butchering" (gradual luring into larger investments) and deepfake technology to deceive victims. The Australian Securities and Investments Commission shut down 615 cryptocurrency investment scams in its first year of operation, while overall reported scam incidents increased 18.5% in 2023 despite a 13.1% decline in total
bradfordera.com
· 2025-12-08
Rep. Mike Armanini is hosting two Senior Scam Jam educational events in Pennsylvania's 75th District to raise awareness about elder fraud among older adults. The events are designed to inform seniors about common scams and fraud schemes targeting their population.
theprogressnews.com
· 2025-12-08
State Rep. Mike Armanini hosted two Senior Scam Jam educational events in Pennsylvania's 75th District in partnership with the Department of Banking and Securities to teach older adults how to recognize and avoid common scams leading to identity theft and financial fraud. The interactive seminars, held in DuBois and Ridgway in September, aimed to help seniors identify red flags, protect themselves and their families, and report suspected fraud cases.
patch.com
· 2025-12-08
Communities First Initiative, Jewish Community Housing Corporation, and Valley National Bank held a 2-hour educational workshop in South Orange, New Jersey to teach senior citizens how to avoid scams, fraud, and identity theft, addressing a significant rise in financial crimes targeting older adults. According to the FBI and Consumer Financial Protection Bureau, elder fraud complaints increased 14% in 2023 with victims losing an average of $33,915 each, totaling over $3.4 billion, with many seniors failing to report incidents due to embarrassment or fear of losing independence. The presentation aimed to provide seniors with tools and resources to recognize and protect themselves from increasingly sophisticated scams, including phone and internet fraud.
justice.gov
· 2025-12-08
Irene Fike, a 56-year-old Kentucky woman, was sentenced to 36 months in prison for wire fraud and aggravated identity theft after defrauding a victim of over $363,000 between 2018 and 2022. While employed at an accounting firm and later hired as an independent contractor, Fike exploited her access to the victim's financial accounts to make unauthorized purchases and transfer funds to her personal credit card, falsifying financial records to conceal the scheme. She was ordered to pay $405,867.08 in restitution and will serve 85 percent of her sentence followed by three years of supervised release.