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firstpost.com
Fraud is now the leading crime against seniors in Canada, with sophisticated scams exploiting technological vulnerabilities and seniors' social isolation. Common schemes include grandparent fraud ($9.4 million in losses from 2,494 victims), romance scams (Canadians lost $59 million in 2022), and phishing attacks ($58 million in losses in 2022), all enhanced by AI and voice simulation technology. Despite widespread awareness campaigns, seniors remain vulnerable due to lower digital confidence (only 26% feel very confident with technology) and emotional manipulation that overrides caution.
timesofindia.indiatimes.com
Two Bengaluru residents lost a combined Rs 1.06 crore to online trading scams involving deepfake videos of Infosys co-founder Narayana Murthy and Reliance chairman Mukesh Ambani promoting fake trading platforms like "FX Road." One victim (Veena KG, 57) lost Rs 67.1 lakh between September-October to the trading scam and an additional work-from-home job fraud on Instagram/Telegram, while a retired man (Asok Kumar TS) lost Rs 19 lakh; both cases have been registered under IT Act and BNS sections for cheating and person
shows.acast.com
Americans lost an estimated $12.5 billion to cyber fraud in the previous year, according to FBI data, as criminal scamming operations have become increasingly sophisticated and lucrative. The article explores the emergence of "scam-baiters"—vigilante anti-scammers who use YouTube videos and viral content to combat fraud—while investigating the ethical complexities of this form of self-policing in an international enforcement landscape that often seems inadequate to address the problem.
bbc.com
Hundreds of people were scammed by a fake NHS dental practice website in Lincoln that collected personal data including passport numbers and upfront payments for non-existent appointments. The sophisticated scam exploited the desperation of people seeking NHS dental care by using a hijacked dentist's identity and a non-existent building address, with similar fraudulent websites operating in Norfolk and West Yorkshire. Victims like Paul Bowring faced identity theft concerns and incurred costs such as £200 for passport replacement, while Trading Standards warned that the scam affected people of all ages and recommended using official NHS resources and verifying legitimacy before sharing personal information.
pressdemocrat.com
Alfred Mancinelli, a 79-year-old widower, lost approximately $1 million in retirement savings and his granddaughter's college fund to romance scammers impersonating professional wrestler Alexa Bliss and others over several years. Despite his son Chris's attempts to intervene and protect his assets, Alfred remained convinced he was in a genuine romantic relationship and even sued his son, demonstrating how romance scams isolate victims and make them resistant to help. The case illustrates a broader trend where older Americans are disproportionately targeted for costly online scams, with Americans losing an estimated $652 million to romance and confidence scams in 2023 alone.
renfrewtoday.ca
An elderly victim lost nearly $10,000 in a cryptocurrency investment scam after a phone caller promised high returns and directed them to deposit money into a cryptocurrency ATM. The Upper Ottawa Valley Detachment warns that scammers use fake companies with professional websites and high-pressure sales tactics to fraudulently solicit investments. To protect against such schemes, individuals should be skeptical of unusually high returns, research company legitimacy, never share cryptocurrency wallet credentials, and report suspected fraud to local police and the Canadian Anti-Fraud Centre.
bankingjournal.aba.com
In 2023, older Americans reported $1.9 billion in fraud losses to the FTC, though the actual figure is estimated at $61.5 billion when accounting for underreporting. Adults ages 60 and older experienced higher median losses than younger groups (ranging from $500 for ages 60-69 to $1,450 for ages 80+) and were significantly more vulnerable to tech support scams (5x more likely), sweepstakes scams (3x more likely), and impersonation scams, with investment scams and cryptocurrency payments causing the largest losses.
justice.gov
Viraj Patel, a money mule operating in Florida, was sentenced to 3 years and 10 months in federal prison for laundering at least $216,000 in proceeds from government-imposter fraud schemes targeting senior citizens. Patel picked up cash and gold from victims who had been deceived by India-based conspirators into believing their identities were compromised, including one victim who was tricked into surrendering $71,000 and later $50,000 in a single scheme. The court ordered Patel to forfeit $145,000 in traceable fraud proceeds.
ncoa.org
AI-powered scams represent an emerging threat to consumers, particularly older adults, utilizing artificial intelligence tools to create highly convincing impersonations and fraudulent messages at scale. Scammers employ four main tactics: voice cloning to impersonate family members or authority figures, deepfake videos to pose as public figures, sophisticated phishing emails that bypass spam filters, and fake websites promoting fraudulent investments. The FBI has warned that as AI technology advances, cybercriminals' ability to execute personalized, authentic-seeming fraud campaigns will continue to increase.
thenewsenterprise.com
Since 2020, the Better Business Bureau has received over 4,000 reports of investment scams, with cryptocurrency-based schemes increasingly migrating to social media platforms like TikTok where scammers quickly build trust and solicit money. These scams typically begin with fake investment opportunities promising rapid returns; victims are directed to send funds via digital wallet services, after which scammers either disappear or demand additional "service fees" while claiming to multiply the initial investment. To avoid such scams, consumers are advised to use good judgment (legitimate investments rarely guarantee huge returns), research contacts and companies thoroughly before engaging, refuse intimidation tactics, treat digital wallet transfers as irreversible cash, and report suspected sc
newskarnataka.com
**Summary:**
A woman government engineer in Bengaluru was defrauded of ₹80,000 by a man impersonating an assistant to Karnataka's IT Minister, who falsely promised help securing a job posting and used threats to extort money. The accused remains at large as police investigate under charges including impersonation of a public servant and cheating. This incident reflects a broader fraud trend in Karnataka, with Indian authorities reporting over 7.4 lakh fraud complaints in the first four months of 2024 alone, totaling significant financial losses across trading, investment, and romance scams.
sbs.com.au
The Australian Competition and Consumer Commission is suing telecommunications company Optus for engaging in unconscionable conduct by selling unwanted phone products to hundreds of vulnerable customers, including First Nations people from remote areas and individuals with disabilities or financial disadvantages, then pursuing them for resulting debts. Additionally, scam-related complaints in Australia reached a record high, with an 81% increase in complaints to the Australian Financial Complaints Authority in 2023-2024, with phishing, spoofing, remote access scams, bank impersonation scams, and romance scams being the most prevalent types.
ncoa.org
Deepfakes are AI-generated videos, photos, and audio that realistically fabricate or alter someone's likeness, increasingly used by criminals to execute scams targeting older Americans, who lost $3.4 billion to fraud in 2023. Common deepfake scams include investment schemes (such as an 82-year-old losing $690,000 to a fake Elon Musk video), romance scams (with victims in Hong Kong losing over $46 million), political misinformation, extortion/grandparent scams (which generated over $13 million in losses from 2020-2021), and celebrity endorsement frauds. Understanding
regtechtimes.com
Three Georgia residents—Patrick Dallas, Stacey Robinson, and Owen Demoy Byfield—were charged in federal court for operating a sweepstakes fraud scheme targeting seniors across at least ten states, including Rhode Island, stealing at least $1 million. The fraudsters impersonated Publishers Clearing House representatives, convincing victims they had won large prizes and pressuring them to pay upfront fees via cash, gift cards, or valuable items; one 77-year-old Rhode Island victim nearly lost $163,000 before a FedEx employee's intervention alerted him to the scam. The defendants face charges for conspiracy to commit mail and wire fraud, as well as money laundering
madvalleycurrent.com
An elderly victim in Ontario lost nearly $10,000 after being contacted by phone and directed to deposit money into a cryptocurrency ATM with promises of high investment returns that never materialized. Fraudsters often create fake cryptocurrency investment companies with convincing websites and fake testimonials to pressure victims into making increasingly large deposits. The OPP advises the public to be wary of abnormally high return promises, verify company legitimacy through business registries, never share cryptocurrency private keys, and report suspected fraud to local police or the Canadian Anti-Fraud Centre.
justice.gov
Everette Jhamal Thibou, 32, of Tampa, Florida, was sentenced to 168 months in prison as the sixth defendant in an international fraud scheme that defrauded 50 elderly victims of $11 million across West Michigan and the country. The scam used fake virus warnings and impersonations of tech companies and federal agents to trick victims into sending cash, wire transfers, and gift cards through various methods. Thibou and five other U.S.-based defendants collected fraud proceeds on behalf of scammers located in India, with a seventh defendant still at large.
detroitnews.com
Federal agents are investigating an $8 million gold bar scam targeting elderly victims across the United States, with two of five alleged conspirators arrested in Metro Detroit. The scheme, which began in February 2024, involved falsely claiming victims' bank accounts were compromised to convince them to purchase gold bars that were then handed over to scam operatives, with at least two suspects living in the country illegally.
bbc.com
A photographer in West Yorkshire fell victim to a parking app scam after scanning a QR code at a council car park, paying 90p to verify his bank details but then being charged £39 for an unauthorized subscription he was unable to recover. The Chartered Trading Standards Institute reports that parking scams using fraudulent apps, fake QR codes, and bogus penalty notices have become increasingly common, with Action Fraud receiving 2,600 parking-related reports in one year—double the 2022 figures—with incidents reported across the UK from Bournemouth to Aberdeen. Experts advise people to avoid scanning QR codes outside controlled environments and to contact their bank immediately if targete
paymentsjournal.com
AI-powered scams doubled in the past year, resulting in over $108 million in losses to Americans, with nearly half of AI scams resulting in financial losses averaging $14,600—significantly higher than the 28% success rate of non-AI fraud. Investment scams caused the largest average losses at $55,000 per victim, followed by imposter scams, while online shopping and negative review scams were most frequent. Consumers aged 30-39 were most vulnerable to AI scams, which exploit deepfakes, voice cloning, and urgent messaging tactics, though experts emphasize that education and real-time AI detection by financial institutions can help prevent victimization.
santaclaritamagazine.com
This educational article discusses the growing threat of senior scams and identifies common tactics used by scammers, including impersonation, fake charities, sweepstakes/lottery schemes, romance scams, and fraudulent investment offers. The article attributes the rise in senior scams to increased isolation, digital communication channels, and cognitive decline that make elderly individuals more vulnerable to manipulation. To protect seniors, the article emphasizes the importance of community awareness programs, educational campaigns, and open family communication to help elderly individuals recognize and avoid scam tactics.
ceotodaymagazine.com
Cybersecurity Awareness Month highlights the critical importance of protecting against cyber threats, which are predicted to cost the global economy over $6 trillion in 2024. The article outlines common scams including phishing, spear phishing, tech support fraud, online shopping scams, investment scams, ransomware, romance scams, and lottery schemes. Key protective measures include educating yourself and others, using strong unique passwords, enabling two-factor authentication, verifying sender information, and remaining vigilant about unsolicited requests for personal information.
sbs.com.au
Scam-related complaints to Australia's Financial Complaints Authority surged 81 percent in 2023-24, with nearly 11,000 complaints filed, as Australians lost a combined $2.7 billion to various fraud schemes including phishing, spoofing, bank impersonation, romance, and investment scams. The report also found financial hardship complaints rose 18 percent amid cost of living pressures, with First Nations people experiencing disproportionate impacts due to systemic barriers including limited digital access and reduced banking services in regional areas. Many victims never recover their lost funds, and financial hardship complainants often face slow or inadequate responses from institutions.
usatoday.com
Americans lost an estimated $12.5 billion to online scams in the past year, with the FBI reporting that 39% of victims were targeted through AI-generated "deepfake" videos used in investment schemes, romance scams, and other frauds. Scammers are increasingly using artificial intelligence to duplicate voices, create convincing fake videos of business leaders and celebrities, and attempt account breaches, making these crimes harder to detect and recover from, as 96% of reported losses are never recovered. The article recommends using strong passwords, two-factor authentication, and watching for telltale signs of deepfakes such as unnatural facial movements, inconsistent lighting, and audio irreg
intelligentciso.com
Proofpoint researchers documented a rising trend of cryptocurrency scams targeting job seekers through fake employment offers, often impersonating legitimate companies and communicated via social media, SMS, and messaging apps. These "Pig Butchering" variant scams exploit psychological vulnerabilities to pressure victims into making payments after performing fake tasks, with one fraudulent website impersonating Daptone Records netting over $300,000 in two months. To protect themselves, job seekers should remain skeptical of unsolicited offers, never send money to supposed employers, and verify opportunities through official company channels.
theglobeandmail.com
Business impersonation scams were the most reported financial fraud in 2023, affecting approximately 332,000 victims and resulting in over $660 million in losses, according to an FTC report. These scams involve fraudsters impersonating legitimate companies or government agencies to deceive victims into revealing sensitive information, transferring money, or granting system access. Protection strategies include scrutinizing sender email addresses, being wary of urgent-sounding messages, enabling multi-factor authentication, monitoring financial accounts closely, and reporting suspected fraud to the FTC.
dailypioneer.com
A "digital arrest" scam is rapidly spreading across India, where fraudsters impersonate police officers and convince victims they face legal charges, demanding money to drop fabricated cases. The scheme exploits fear and confusion by using deepfake technology, fake credentials, and authoritative impersonation to appear legitimate, with Prime Minister Modi issuing a national warning and clarifying that "digital arrest" does not exist under Indian law. Victims are advised to avoid panic, record interactions when possible, and immediately report incidents to cyber helplines and local police, while the government is urged to strengthen cybersecurity efforts and enforcement to combat the growing threat.
timesofindia.indiatimes.com
A man from Bawana, New Delhi, lost Rs 1,42,200 in an online investment scam after being recruited through a WhatsApp group that promised high returns through a "wealth program." The scammer used a fake investment app that displayed virtual profits to encourage larger deposits, then demanded a 20% withdrawal fee and eventually disabled the app and stopped responding. The cyber police registered a case and are investigating to identify and apprehend the perpetrators.
ic3.gov
The FBI warned the public that scammers are exploiting the 2024 US General election through multiple fraud schemes, including fake campaign investment pools promising returns, fraudulent Political Action Committees soliciting donations, non-delivery merchandise scams, and fake voter registration pages designed to steal personal information. To protect themselves, victims should avoid unsolicited contacts and unverified links, verify PAC registration through the FEC website, and check voter registration at vote.gov. The FBI urges victims to report suspicious activities to the Internet Crime Complaint Center (IC3) at www.ic3.gov, with seniors aged 60+ able to seek assistance through the DOJ Elder Justice Hotline at 1
azfamily.com
A Wells Fargo fraud expert warns Arizonans about evolving scams including impersonation schemes (which cost victims $2.7 billion last year), where scammers pose as bank representatives claiming card fraud and then trick victims into handing over debit cards or personal information. Additional threats include AI-powered deepfake calls mimicking family members, cryptocurrency investment scams promising quick returns, and holiday shipping scams posing as delivery services to steal tracking information.
foxnews.com
Scammers in 2024 frequently impersonate celebrities through deepfakes and fake endorsements to defraud victims, with Scarlett Johansson, Kylie Jenner, and Taylor Swift being the top targets according to cybersecurity firm McAfee. Common scams include unauthorized use of celebrities' names and likenesses to promote fake products (health cures, cosmetics, cryptocurrency), ticket fraud, giveaway schemes, and false political endorsements. To protect yourself, verify celebrity endorsements through official channels, be skeptical of unsolicited ads using celebrity images, and report suspected scams to relevant platforms and authorities.
interest.co.nz
Fraud is now the leading crime against seniors in Canada, with scammers increasingly exploiting advanced technology including voice simulation, AI, and fake identities to conduct grandparent scams, romance fraud, and phishing schemes. Notable losses include $9.4 million from grandparent fraud and $59 million from romance scams in 2022 alone. Seniors remain vulnerable due to social isolation, limited digital literacy (only 26% feel confident with technology despite 67% using the internet), and scammers' ability to create emotionally manipulative scenarios that override caution and awareness campaigns.
bilyonaryo.com
Fraud against seniors in Canada is rapidly increasing and now represents the leading crime against this population, driven by sophisticated technologies including voice simulation, AI-generated profiles, and automated phishing systems. Seniors are particularly vulnerable due to social isolation, limited digital literacy (only 26% feel confident with technology), and accessible savings, making them targets for scams like grandparent fraud ($9.4 million in losses), romance scams ($59 million in 2022), and phishing ($58 million in 2022). To protect themselves, seniors should never share personal information via unsolicited calls or messages, verify requests independently, and remain cautious of emotional appeals even when awareness campaigns exist.
mk.co.kr
A multinational fraud ring operating from Cambodia was dismantled when 23 men in their 40s or older were arrested for stealing 6.5 billion won (approximately $5 million USD) from 61 victims using a hybrid scam combining romance fraud and fake investment schemes. The operation, which ran from August 2023 to June 2024, used dating apps to lure male victims (predominantly in their 40s+), impersonated overseas Korean women to build trust, and then directed victims to fraudulent stock trading sites where they lost between millions to 370 million won each. The gang operated from a Cambodian casino building converted into a call center, using encrypted communications
bbc.com
BBC Scam Safe Week is a multi-platform educational initiative launching programs across television, radio, and online to help the public recognize and avoid scams, which have become increasingly prevalent during the cost-of-living crisis. Expert contributors highlight that "pig butchering" romance-to-investment scams are currently the most profitable fraud scheme, with victims losing tens of thousands of pounds or more, and emphasize that people of all ages—particularly 16-34 year-olds—are vulnerable targets. The campaign stresses that self-education is essential since authorities can only convict 0.1% of fraud cases, and that scamming has become a sophisticated criminal enterprise rather than isolated incidents.
ia.acs.org.au
Former NSW Police detective Kylee Dennis launched Two Face Investigations in August 2023 after discovering her friend's 78-year-old mother was targeted by a romance scammer using stolen photos. Since inception, Dennis has investigated cases involving victims aged 50-86 who lost between $30 and over $500,000 to romance scammers, contributing to Australia's $34.3 million in romance scam losses during 2023.
hindustantimes.com
Indians lost ₹120.3 crore in digital arrest frauds during the first quarter of 2024, with 46% of digital fraud cases—including digital arrests, trading scams, investment scams, and romance scams—originating from Myanmar, Laos, and Cambodia, affecting victims who lost a cumulative ₹1,776 crore. Digital arrest scams involve fraudsters impersonating law enforcement via video call, claiming victims are involved in crimes or have received illegal parcels, and demanding money to close fabricated cases. Complaint numbers have increased significantly from 4.52 lakh in 2021 to 7.4 lakh in the
indianexpress.com
Indian victims lost Rs 1,420.48 crore in trading scams during the first quarter of 2024, where fraudsters used fake social media ads featuring well-known stock market experts to lure victims into unregistered trading apps and fake investment schemes. Victims deposited money believing they were buying shares, but were shown fake profits and trapped in endless deposit cycles by criminals demanding additional "taxes" before allowing withdrawals. Trading scams are one of four major online fraud schemes targeting Indians, alongside digital arrest, investment, and romance/dating scams.
analyticsinsight.net
Social media scams resulted in over $1.2 billion in losses last year, with common schemes including phishing (fake profiles impersonating organizations), romance scams (which cost nearly $1 billion in 2021), fake investment opportunities (over $330 million lost in 2022), fraudulent giveaways (40% of respondents affected in 2021), and impersonation scams targeting friends and family. Users can protect themselves by verifying account authenticity, avoiding suspicious links, staying informed about current scams, and reporting fraudulent activity to platforms.
bizzbuzz.news
India's Union Home Ministry revealed that approximately 46% of digital arrest scams, trading fraud, romance scams, and investment fraud cases originate from Myanmar, Laos, and Cambodia, with victims losing a total of Rs 1,776 crore. The scams include trading scams (Rs 1,420 crores), investment frauds (Rs 222.58 crores), digital arrests (Rs 120.3 crores), and romance scams (Rs 13.23 crores), with complaint numbers rising from 4.52 lakh in 2021 to 7.4 lakh complaints in the first four months of 2024.
theconversation.com
Fraud is now the leading crime against Canadian seniors, with scammers increasingly exploiting technological tools to create more sophisticated schemes including grandparent fraud (2,494 victims, $9.4 million in losses), romance scams ($59 million in 2022), and phishing attacks ($58 million in 2022). Seniors are particularly vulnerable due to social isolation, limited digital literacy (only 26% feel confident with technology), accessible savings, and the emotional manipulation that can override caution despite public awareness campaigns.
legalreader.com
Two correctional officers at an Indiana prison, Martins Tochukwu Chidiobi and Lawrence Onyesonwu, were sentenced to three years in federal prison for stealing the identities of at least five inmates and using them to open fraudulent bank accounts between 2015 and 2019. The defendants deposited at least $331,282 in fraud proceeds—largely from romance scams and other schemes—into these accounts, then withdrew most of the money as cash or transferred it to Nigerian bank accounts. Both men pleaded guilty to aggravated identity theft and making false statements to financial institutions.
ftc.gov
The Federal Trade Commission obtained a court order to shut down a business opportunity scam operating under multiple names (Lunar Capital Ventures, Ecom Genie, Profitable Automation, and formerly Valiant Consultants) that defrauded consumers of more than $12 million since 2019 with false promises of $100,000+ monthly earnings through Amazon and Walmart e-commerce stores. Consumers paid $30,000-$35,000 to start online businesses that rarely generated promised returns, with operator Steven Mayer repeatedly rebranding the scheme under new company names to evade accountability for previous rounds of complaints and lawsuits. The FTC's
justice.gov
Jennifer LaBonte, 45, pleaded guilty to wire fraud for embezzling approximately $191,000 from automobile dealerships in Burlington, Vermont between 2013 and January 2024. As office manager with check-signing authority, LaBonte stole customer cash receipts and issued checks to herself for personal expenses while falsifying accounting records to conceal the theft. LaBonte has repaid the dealerships in full and faces sentencing on March 4, 2025, with potential penalties of up to 20 years imprisonment and fines up to $250,000.
presidentialprayerteam.org
The FTC reported that older adults lost over $1.9 billion to fraud in 2023, though actual losses may exceed $61.5 billion, with seniors over 80 particularly vulnerable to tech support, lottery, family impersonation, and investment scams. The FTC's Scams Against Older Adults Advisory Group, established under the 2022 Stop Senior Scams Act, is working through enforcement, rulemaking, and outreach to disrupt these scams and improve consumer education. Bank transfers and cryptocurrency were identified as the most common payment methods used by fraudsters targeting seniors.
viewfromthewing.com
A passenger at Bangalore airport lost over $1,000 when lounge staff directed her to download a malicious "Lounge Pass" app and complete a facial scan, claiming these were required for entry. Scammers used the app to gain access to her phone, redirect calls, intercept one-time passwords, and fraudulently charge her credit card and transfer funds to a PhonePe account. The victim contacted her bank to report the fraud, and security experts recommend downloading apps only through official app stores, never sharing two-factor authentication codes, and being cautious of requests for biometric data at airport lounges.
businessday.ng
Internet scams are a global concern causing significant financial losses and erosion of trust in digital transactions. India recorded $7.93 million USD in cybercrime losses across 4,850 cases in 2023, while Brazil experienced 1.8 million banking trojan infections the same year; Pakistan reported 32,072 suspicious transactions, and South Africa ranks 7th globally for cyber criminality, with identity theft and phishing attacks being prevalent across all regions. Governments are implementing awareness campaigns and stronger cybersecurity measures, but rapid digital infrastructure growth continues to outpace law enforcement efforts to combat evolving scam tactics.
kashmirobserver.net
India's CERT-In cyber-security agency issued a public advisory detailing over a dozen online scams targeting citizens, with particular focus on the "digital arrest" scam where fraudsters impersonate government officials via WhatsApp or Skype, threatening victims with arrest to coerce them into transferring money under false pretenses of investigations or security deposits. Prime Minister Narendra Modi simultaneously warned the public about these scams in his radio address, recommending citizens verify agency identity directly, avoid panic-driven money transfers, and report incidents to the national cyber-security helpline (1930) or www.cybercrime.gov.in. The advisory also highlighted other prevalent scams including phishing,
newsbytesapp.com
A 62-year-old woman from Thiruvananthapuram, Kerala lost ₹87 lakh in an online trading scam between September and October after fraudsters impressed her with market knowledge, showed fake profits on a fraudulent website, and repeatedly coerced her to invest more money. The scammers transferred funds across four different bank accounts and fully withdrew the money before the victim filed a complaint, prompting a cyber police investigation under charges of criminal breach of trust, cheating by personation, and IT Act violations.
thebridgechronicle.com
Two women in Pune lost a combined ₹46 lakh in separate cyber scams: one transferred ₹26.25 lakh to fraudsters promising stock market returns who then disappeared, while the other paid ₹20 lakh after being threatened with false police action involving a supposed suspicious package at the airport. Both cases have been reported to local police stations and investigations are underway.
deccanherald.com
Three professionals in Bengaluru—businessmen Ramit Goel (50) and Raman Kumar (51), and engineer Ramila S (45)—were defrauded in online trading scams, losing a combined Rs 9.54 crore. Goel lost Rs 6.56 crore, Kumar lost Rs 1.38 crore, and Ramila lost Rs 1.60 crore in what appears to be fraudulent investment schemes. The cases highlight the vulnerability of educated, middle-aged professionals to online trading fraud.