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in Romance Scam
northfortynews.com
· 2025-12-08
The Larimer County Sheriff's Office issued a public alert about a surge in fraud targeting Northern Colorado residents, particularly seniors and small business owners, including romance scams, bank impersonation, fake government texts (DMV, law enforcement), and business invoice schemes that pressure victims to pay via Bitcoin, gift cards, or money apps. Common red flags include unsolicited requests for personal information, urgent threats, and payment demands via untraceable methods, with victims urged to verify requests directly with official sources and report fraud to law enforcement and agencies like the FTC and IdentityTheft.gov.
news.outsourceaccelerator.com
· 2025-12-08
The Philippine Bureau of Immigration warns that Filipino workers are being targeted by fake overseas call center job scams that actually operate as human trafficking schemes, forcing victims to impersonate romantic partners on dating apps to defraud users into cryptocurrency investments. Authorities have intercepted hundreds of Filipinos at borders and rescued victims including a 24-year-old man who was forced to work as a "love scammer" in Cambodia while facing physical intimidation from Chinese employers. The government advises citizens to verify employment opportunities through trusted sources, avoid sharing personal information early, and report suspicious job offers to authorities.
mk.co.kr
· 2025-12-08
Nineteen Korean members of an international romance scam operation were arrested in Pattaya, Thailand on the 21st following a joint raid by Korean and Thai police at a pool villa complex. The organized crime ring operated from the villa using dozens of computers to execute romance scams and voice phishing schemes, with members assigned specific roles in the fraud operation. Korean authorities dispatched an investigation team to analyze the electronic devices and evidence on-site, and are coordinating with Thai officials to repatriate the suspects and develop joint countermeasures against Southeast Asia-based international organized crime.
wrdw.com
· 2025-12-08
Military families lost $584 million to scams in 2024, a $100 million increase from 2023, according to the Federal Trade Commission, with scammers targeting service members and veterans for their stable pensions and financial assets. Common schemes include the "update your file" scam (requesting personal information via calls, texts, or emails), PCS rental fraud (fake military housing listings demanding upfront deposits), and predatory lending offers targeting military members with unusually favorable terms that hide high interest rates and fees. The U.S. Postal Inspection Service partnered with AARP to launch Operation Protect Veterans, a crime prevention program providing education on recognizing and avoiding these scams.
whbl.com
· 2025-12-08
Winnebago and Sheboygan County Sheriff offices are warning residents about two prevalent scams: romance scams involving fake online relationships that move to messaging apps and request money via Bitcoin or gift cards, and spoofed phone calls impersonating the Sheriff's office demanding payment for alleged fines or missed jury duty. Both scams exploit technology to appear legitimate while targeting victims' finances through cryptocurrency and gift card payments.
dakotanewsnetwork.com
· 2025-12-08
North Dakota residents experienced the highest per-capita losses from romance scams and confidence fraud in the nation between 2021 and 2024, totaling over $16 million. Authorities attribute the vulnerability to limited fraud awareness, particularly among residents in isolated areas.
theconversation.com
· 2025-12-08
This research study examines harms experienced by LGBTQ+ users on dating apps, finding that participants encounter sexual harassment, emotional abuse, discrimination, catfishing, sextortion, and romance scams. Specific vulnerabilities include trans and non-binary users facing slurs and death threats, racialized users experiencing racist fetishization, and younger users being coerced into sexual acts by older users, with some reporting sexual assault or being drugged during in-person meetings. The study recommends safety strategies including identity verification through video calls and social media checks before meeting in person.
aol.com
· 2025-12-08
Romance scams exploit emotional vulnerability and trust, with the FTC reporting at least 70,000 cases annually resulting in approximately $1.3 billion in losses. Common tactics include catfishing (using fake profiles and personas), military impersonation scams, oil rig worker schemes, and sugar daddy/mama cons—all designed to build trust before requesting money or sensitive information from victims. The article provides educational guidance on recognizing these scam variations to help people protect themselves when online dating.
wvnews.com
· 2025-12-08
Seniors aged 60 and older face significant financial fraud threats, prompting the U.S. Department of Justice's Elder Justice Initiative to coordinate education and prevention efforts. Common scams targeting older adults include Social Security impostor scams (using caller ID spoofing to demand fund transfers to gift cards), tech support scams (requesting remote device access and fabricating charges), lottery scams (claiming foreign winnings while requesting fees), and romance scams (exploiting dating platforms to solicit money). Additional resources on these scams are available through the Justice Department's elder justice website.
dayakdaily.com
· 2025-12-08
A retired businessman in his 70s in Sibu, Sarawak lost over RM800,000 to a fake online investment scheme called "GVD Coins" after discovering it on Facebook in mid-June 2025; despite warnings from family, he made multiple transactions to the scammer's bank account and received no returns. Sarawak Police Commissioner Dato Mancha Ata warned the public to verify investment legitimacy through official sources such as Bank Negara Malaysia and the Securities Commission Malaysia, and urged recent victims to contact the National Scam Response Center at 997.
californiaglobe.com
· 2025-12-08
In 2023, seniors lost an average of $33,000 each to online scams as part of a $159 billion total theft from Americans, with highly coordinated criminal networks—often operating from Southeast Asia—using tactics like romance scams, phishing, and imposter calls to manipulate older adults. The Golden Years Policy Council argues this represents a public safety and national security crisis requiring coordinated government response, including establishment of an interagency taskforce, increased law enforcement funding and tools to dismantle scam networks, and a centralized victim reporting system to track the problem's true scale.
newsweek.com
· 2025-12-08
**"Pig butchering" scam operations run by ethnic Chinese criminal gangs in Southeast Asia defrauded Americans of at least $5 billion in 2024 (a 42% increase from 2023), with global losses estimated at $63.9 billion in 2023.** The U.S.-China Economic and Security Review Commission reports that Chinese government elements implicitly back these operations, which exploit thousands of human trafficking victims and have expanded to target wealthy countries like the U.S. after Chinese authorities cracked down on scams targeting Chinese citizens. The commission warns that without coordinated international action to raise awareness, equip law enforcement, and deter perpetrators
afp.gov.au
· 2025-12-08
Australian authorities are cracking down on money mules who rent or sell their bank accounts to criminals for $200-$500, with the AFP and Australian Banking Association warning that this activity enables money laundering and supports organized crime. Criminals recruit mules through employment scams, romance scams, and threats, routing illicit funds through legitimate bank accounts to obscure their origin; in one case, a Sydney woman was imprisoned in April 2025 for renting 10 accounts used to launder $3.8 million. Renting or selling bank accounts is illegal and can carry life imprisonment charges, and account holders risk being implicated in serious crimes including drug trafficking, extortion, and terrorism financing.
au.finance.yahoo.com
· 2025-12-08
Australians are being targeted in a growing "money mule" scheme where individuals rent out their bank accounts to criminals who use them to launder illegally obtained funds, typically earning $200-$500 plus commissions per transfer. The Australian Banking Association and Australian Federal Police reported detecting nearly 13,000 mule accounts in 2024-25, with one Sydney woman jailed in April 2024 after her 10 accounts were used to launder almost $4 million in criminal funds that were transferred overseas. Criminals recruit mules through social media, gaming platforms, and employment, threat, or romance scams, but authorities warn this activity facilitates money laundering and exposes participants
koreajoongangdaily.joins.com
· 2025-12-08
Police in Thailand arrested 19 Korean nationals operating a romance scam ring from a villa in Pattaya on June 21, 2025, discovering dozens of electronic devices and materials used to conduct scams and voice phishing operations. The suspects had developed criminal scripts with assigned roles and Korean-language scam materials, and attempted to flee when officers raided the compound but were apprehended at the scene. South Korean and Thai authorities plan to repatriate the suspects and are analyzing confiscated devices to identify additional offenses and accomplices while coordinating a joint strategy against cross-border criminal organizations in Southeast Asia.
adf-magazine.com
· 2025-12-08
Africa faces a surge in cybercrime including fake investment scams, ransomware, business email compromise, and digital sextortion, with suspected scam notifications rising 3,000% in some countries according to Interpol's 2025 Africa Cyberthreat Assessment Report. South Africa and Egypt experienced the highest ransomware detections (17,849 and 12,281 respectively), while critical infrastructure and government databases across Nigeria and Kenya were breached, with digital sextortion cases rising sharply across 60% of African member countries. Experts attribute the vulnerability to rising digital dependency combined with severe cybersecurity capacity gaps, though some African nations have made progress through strengthened legal
mk.co.kr
· 2025-12-08
Voice phishing and its variants—including investment fraud, romance scams, smishing (text fraud), and fake reservation scams—have become increasingly sophisticated over the past 20 years, with the "five major phishing crimes" causing 1.687 trillion won in damages last year, 3.4 times more than robbery and theft combined. Victims of phishing crimes suffer average losses of 48.75 million won per case with less than 3% recovery rates, yet many phishing variants lack legal classification as telecommunications fraud and fall outside the official response system, leaving victims without integrated support channels or adequate online resources for assistance.
kesq.com
· 2025-12-08
Romance scams exploit victims' emotional vulnerability, with the FTC reporting at least 70,000 cases annually resulting in approximately $1.3 billion in losses. Common types include catfishing schemes using fake profiles, military impersonation scams that justify avoiding in-person meetings, oil rig worker scams that request money for travel or medical expenses, and sugar daddy/mama schemes that solicit intimate photos for blackmail purposes. The article advises potential online daters to conduct background checks and remain vigilant about suspicious requests for money or personal information from new romantic contacts.
seehafernews.com
· 2025-12-08
The Winnebago County Sheriff's Office warns that romance scams are among the most frequent and devastating scams in the county. Scammers initiate contact via social media using stolen or AI-generated images, build false intimacy quickly, then move conversations to private messaging apps where they pressure victims for money via cryptocurrency or gift cards through fabricated emergencies. The office advises skepticism toward fast-moving online relationships, repeated excuses to avoid in-person meetings, and immediate caution when anyone met online requests money.
rstreet.org
· 2025-12-08
The GUARD Act is a proposed federal rule that would authorize law enforcement agencies at all levels to use existing Department of Justice grant funds to investigate elder financial fraud and scams like pig butchering schemes, with support for emerging technologies, real-time intelligence sharing, and interagency coordination. The legislation addresses a critical need, as FBI data shows fraud complaints from adults over 60 increased 46 percent in 2024 to 147,127 cases, yet 78 percent of fraud victims do not report incidents to law enforcement due to shame and jurisdictional challenges that make prosecution difficult. The bill aims to combat transnational organized crime targeting elderly Americans, who face vulnerabilities including diminished digital literacy
moodys.com
· 2025-12-08
This article provides an overview of the evolving fraud landscape, noting that the United States experienced over 59,000 fraud risk events in 2024—a 12,500 event increase over five years—while globally, an estimated $1.03 trillion is lost annually to fraud schemes including credit card fraud, romance scams, phishing, and identity theft. Businesses are implementing comprehensive fraud prevention strategies, including ongoing screening and monitoring, third-party risk management, and compliance with new regulations like the UK's "failure to prevent" fraud offence that requires senior managers to allocate reasonable budgets for fraud prevention technology and training. The article emphasizes that effective fraud prevention requires collaboration among financial institutions, adverse
vocal.media
· 2025-12-08
Romance scams cost Americans over $1.3 billion in 2022, with losses quadrupling over five years and affecting victims across all age groups, though those 50 and older account for approximately 60% of reported cases. Sarah, an Ohio woman, lost $45,000 to a romance scammer impersonating a successful oil rig worker named Marcus over three months before discovering the entire relationship was fabricated. These increasingly sophisticated, organized international schemes employ specialized teams that steal identities, build emotional connections through psychological manipulation, and exploit fundamental human needs for connection to extract money from victims.
greenwichsentinel.com
· 2025-12-08
At a July 2 Retired Men's Association meeting, computer expert Aaron Woodin presented "Don't Fall for It! Recognizing and Avoiding Scams," detailing how scammers exploit trust through tactics like false urgency, emotional manipulation, and enforced isolation. He identified common digital threats including fake event invitations and invoices, scam pop-ups, social media impersonations, phone-based impersonations of tech companies and government agencies, grandparent/romance scams, and SIM Swap attacks. Woodin advised victims to verify contact information independently, shut down suspicious screens, avoid calling numbers on suspicious invoices, add cyber fraud insurance riders, and contact mobile
kwch.com
· 2025-12-08
A Wichita woman was scammed out of thousands of dollars by Frank Annin, whom she met on the dating app eHarmony in June 2022; Annin used classic romance scam tactics including "love bombing," moving communication off the app, and feigning wealth before disappearing with the money. During trial testimony, a psychologist specializing in geriatrics explained how scammers manipulate victims by creating emotional dependency and how victims may continue believing the relationship is real even after recognizing financial fraud. This marks the first romance scam prosecution in Sedgwick County.
aol.com
· 2025-12-08
A 36-year-old Canadian man, Jia Hua Liu, was arrested in July after conducting a multi-state door-to-door scam targeting seniors across Ohio, Indiana, New Mexico, and Tennessee, defrauding victims of an estimated $309,000 total. One Charlestown, Indiana resident was tricked into withdrawing $27,000 from his retirement accounts and handing it over in cash; three additional attempted scams in Indiana, Kentucky, and Michigan were prevented by family members, potentially saving another $70,000 in losses. Liu was apprehended at Louisville airport while attempting to flee the country and faces charges including theft, fraud, conspiracy, an
livemint.com
· 2025-12-08
**Summary:**
Nearly 20 people in Hong Kong lost over HK$10 million in online romance scams within two weeks, with 40% of victims over age 60. One 70-year-old man lost his life savings of HK$3 million after a scammer posing as a woman built an online relationship with him over two months, using romantic messages and claims of cryptocurrency expertise to convince him to transfer funds. Hong Kong police warn the public to verify identities through video calls, avoid sending money to online strangers, and be skeptical of investment promises.
cftc.gov
· 2025-12-08
A federal court ordered five defendants—two Chinese residents (Qian Bai and Chao Li), one Oklahoma resident (Lan Bai), and two UK companies (Aipu Limited and Fidefx Investments Ltd.)—to pay approximately $19 million in civil penalties and restitution for operating fraudulent trading websites that misappropriated at least $3.6 million from at least 34 customers over 18 months. The scheme involved soliciting victims through fake platforms claiming to offer leveraged commodity and foreign currency trading contracts. The CFTC advises the public to verify company registration before investing and warns of increasing romance scams that lure
abc.net.au
· 2025-12-08
Donna Nelson, a 58-year-old Perth grandmother, is appealing her six-year drug trafficking sentence in a Japanese court after being arrested in January 2023 with two kilograms of methamphetamine hidden in her suitcase at Tokyo's Narita Airport. She claims she was a victim of a sophisticated romance scam, where an online boyfriend convinced her to carry a bag she believed contained clothing, but the Tokyo High Court rejected expert evidence from a romance scam specialist that would have supported her defense of vulnerability and unknowing involvement. The court will announce its full judgment on September 25, with the possibility of upholding the appeal, dismissing it, or sending the case back
scmp.com
· 2025-12-08
A 70-year-old Hong Kong man lost HK$4 million (HK$3 million in savings plus HK$1 million in debt) to an online romance scam that began with a fake water leak alert via WhatsApp. The scammer posed as a neighbor, built a romantic relationship with the victim, then exploited his trust by promoting fraudulent cryptocurrency investments. This case was one of nearly 20 romance scams reported over two weeks affecting almost HK$10 million in losses, with 40 percent of victims over age 60.
justice.gov
· 2025-12-08
Christopher Earl Lloyd, a 39-year-old from Whittier, was arrested on federal charges for operating a romance scam through dating apps including Tinder, Hinge, and Bumble that defrauded victims of over $2 million between April 2021 and February 2024. Lloyd posed as a financially successful investment professional, falsely claiming to be a vice president at Planet 13 Holdings and a financial manager, and convinced victims to send him money for fake investment opportunities that he used for personal expenses including a $40,000 Lexus purchase. He faces 14 federal counts including 13 counts of wire fraud and one count of monetary transaction in property derived from
cbsnews.com
· 2025-12-08
A 39-year-old Whittier man, Christopher Earl Lloyd, was arrested for allegedly defrauding over $2 million from at least five victims through romance scams conducted on dating apps (Tinder, Hinge, and Bumble) between April 2021 and February 2024. Lloyd posed as a financially successful investment manager and vice president, convincing victims to invest money with promises of returns, then misappropriated the funds for personal use including a $40,000 vehicle purchase. He faces 13 counts of wire fraud and one count of monetary transaction in property derived from fraud, with potential sentences up to 20 years in federal prison.
travelandtourworld.com
· 2025-12-08
Elderly travelers are increasingly targeted by AI-generated deepfake scams that create convincing fraudulent videos of non-existent vacation destinations, causing significant financial losses to seniors who book trips based on the fabricated content. Scammers use advanced AI technology to produce hyper-realistic videos, fake testimonials, and manipulated voices to lure victims into bookings, exploiting older adults' lower digital literacy and trusting nature. As deepfake technology becomes more accessible and sophisticated, authorities warn that awareness, careful verification of travel offers, and digital literacy education are essential to protect vulnerable seniors from this growing fraud threat.
kiplinger.com
· 2025-12-08
A 2025 bipartisan report highlights that fraud and scams cost seniors $4.8 billion in 2024, with investment, cryptocurrency, and romance scams posing the greatest risks to older adults who are often targeted due to politeness, trust, and unfamiliarity with digital technologies. Common scams include Medicare fraud ($80.5 million in losses), imposter scams ($789 million in losses), phishing, and deepfakes, which cause not only financial devastation but also significant emotional and physical health impacts on victims.
patch.com
· 2025-12-08
North Branford police conducted an elder fraud awareness presentation at Evergreen Woods Community to educate seniors on prevention strategies. The presentation highlighted that seniors lose more than $3 billion annually to various fraud schemes including romance scams, tech support scams, grandparent scams, and government impersonation scams, with tips provided on how to recognize and protect against these threats.
westernunion.com
· 2025-12-08
This is a navigation page and "About Us" header for a money transfer service's fraud awareness section, not a specific article about a scam or fraud incident. The page displays menu options and links to educational fraud prevention resources covering topics like puppy scams, identity theft, military scams, romance scams, and telemarketing scams, but contains no actual content, case study, or data to summarize.
wchstv.com
· 2025-12-08
Charleston Police and Chase Bank hosted a scam awareness workshop for seniors in Charleston, West Virginia, where attendees learned to recognize common fraud schemes including E-Z Pass, jury duty, and romance scams. According to the Federal Trade Commission, West Virginia residents lost approximately $27 million to fraud and scams in 2024 and are on pace to lose more in 2025. Experts advised seniors to verify requests with trusted sources directly, avoid sharing personal information via phone or email, and report scams immediately to police and their banks, noting that once money reaches scammers—typically operating overseas—it is nearly impossible to recover.
thestar.com.my
· 2025-12-08
Nearly 20 Hong Kong residents lost HK$10 million (US$1.3 million) to online romance scams over two weeks, with 40% of victims aged over 60. One notable case involved a 70-year-old man who lost HK$3 million in savings plus HK$1 million in debt after being befriended via WhatsApp by a scammer posing as a neighbor, who then gained his trust through romantic messages and convinced him to invest in cryptocurrency. Police recommend verifying identities through video calls, avoiding rushed emotional or financial commitments with online strangers, and using the "Scameter" tool to check suspicious contacts and websites.
san.com
· 2025-12-08
A 39-year-old California man, Christopher Earl Lloyd, was indicted on 14 federal charges for operating a romance scam across multiple dating apps (Tinder, Hinge, Bumble) from April 2021 to February 2024, defrauding victims of over $2 million. Lloyd posed as a successful financial manager and falsely promised investment opportunities while collecting money via wire transfers, Zelle, Cash App, and cash, then spent the funds on personal expenses instead of investments. He faces up to 20 years in prison per wire fraud count and an additional 10 years for money laundering.
koaa.com
· 2025-12-08
A Colorado author lost nearly $160,000 to a combined romance and investment scam in 2024, first depositing over $100,000 into a cryptocurrency platform recommended by a woman he met on a dating app, then losing an additional $50,000 to a fake scam recovery service when he attempted to retrieve his funds. After filing reports with the FBI, Colorado Attorney General's office, and FTC, Kern received no response and is now focused on repaying his parents, whose retirement funds he borrowed from to pay the fraudulent recovery service. The case exemplifies how romance scams—which ranked in the top 10 FBI complaints for 2024—often escalate into secondary frau
abc7.com
· 2025-12-08
Christopher Lloyd, a 39-year-old from Whittier, California, was arrested for operating a romance scam using dating apps including Tinder, Hinge, and Bumble between April 2021 and February 2024, defrauding victims of over $2 million. Lloyd posed as a financially successful investor, convincing victims to give him money under the pretense of investment opportunities with promised returns. He faces 13 counts of wire fraud and one count of engaging in monetary transactions derived from fraud, with a potential sentence of up to 30 years in prison if convicted.
cbc.ca
· 2025-12-08
A Calgary woman lost over $300,000 to a romance scam spanning five years, transferring money to someone she believed was in a romantic relationship with her. The victim is now speaking publicly to warn others about this increasingly common fraud scheme, which authorities confirm remains a widespread problem targeting vulnerable individuals.
theglobeandmail.com
· 2025-12-08
Crystal Quast, a Canadian author, lost $2,500 to an Amazon imposter publishing scam before a friend at the company revealed she was dealing with fraudsters. Canadian fraud losses reached $647 million in reported cases in 2024, up from $577 million in 2023, with an estimated 90-95 percent of fraud going unreported. As banks have strengthened defenses against unauthorized fraud, criminals have shifted to "authorized fraud" schemes like investment and romance scams that manipulate victims into voluntarily transferring funds, creating new detection challenges for financial institutions.
ifamagazine.com
· 2025-12-08
Nearly 1 in 5 UK travellers fall victim to holiday booking scams, with some losing over £500, as cybercriminals use fake accommodation listings, counterfeit travel apps, deepfake customer service agents, and QR code fraud to target holidaymakers during peak season. The article identifies six common travel scams including fake travel insurance, public Wi-Fi attacks, and fraudulent currency exchanges, with UK losses from "quishing" scams alone reaching £3.5 million last year. Key prevention measures include verifying listings and app sources, avoiding unsolicited contact, checking for HTTPS encryption, using VPNs on public Wi-Fi, and only using official
ca.finance.yahoo.com
· 2025-12-08
A Jacksonville, Florida woman named Sarah called a financial advice show seeking guidance on helping her widowed father, who has lost a substantial portion of his remaining savings to multiple scams over five years, including a romance scam costing $80,000-$90,000 and a cryptocurrency scam. The father, now retired at 65 after caring for his late wife's medical expenses, shows signs of financial desperation including taking out a home equity line of credit and buying lottery tickets. Financial advisors cautioned Sarah against providing financial assistance, noting that helping family members requires their willingness to accept help and that mixing finances with someone resistant to intervention can be problematic.
palestineherald.com
· 2025-12-08
Romance scams are among the costliest fraud types, with victims reporting over $1.3 billion in losses in 2022. Scammers create fake profiles on dating apps and social media to build trust before requesting money for fake emergencies, using emotional manipulation to steal funds, personal information, and identities. Victims can lose money through wire transfers, gift cards, cryptocurrency, and bank account compromises.
abc.net.au
· 2025-12-08
Donna Nelson, a Western Australian woman serving a six-year sentence in Japan for drug smuggling, appealed her conviction with expert testimony from romance scam researcher Monica Whitty, who concluded Nelson was likely a victim of organized crime that manipulated her through a romance scam into becoming an unwitting drug mule. The court rejected the appeal despite Whitty's evidence suggesting Nelson had been victimized by a sophisticated romance scam operation.
gilmermirror.com
· 2025-12-08
Romance scams are among the costliest fraud schemes, with victims reporting over $1.3 billion in losses in 2022, targeting people seeking relationships online through fake profiles and emotional manipulation to solicit money, gift cards, or personal information. Scammers typically establish trust quickly, claim emergencies or hardships, avoid in-person meetings, and pressure victims to keep the relationship secret. Protection strategies include moving slowly in relationships, verifying identities through reverse image searches, refusing money requests, consulting trusted friends or family, and reporting suspicious profiles to the FTC and BBB Scam Tracker.
patch.com
· 2025-12-08
A 39-year-old Whittier man, Christopher Earl Lloyd, was arrested for orchestrating romance scams that defrauded victims of over $2 million between April 2021 and February 2024. Lloyd met his victims on dating apps, posed as a financially successful investor, and convinced them to send him money through fraudulent investment schemes. He faces 13 counts of wire fraud and one count of engaging in monetary transactions involving fraudulent proceeds.
ainvest.com
· 2025-12-08
Elder fraud losses in the United States surged to over $3.18 billion in Q1 2025, with seniors aged 60+ losing $745 million—a 200% increase from 2024—primarily through sophisticated scams including AI-generated deepfakes, romance schemes, and cryptocurrency fraud. The aging population's increased reliance on digital banking and social media has created a growing market opportunity for cybersecurity firms, fintech companies, and InsurTech providers offering fraud detection, digital literacy, and financial protection solutions, with the proposed GUARD Act expected to further accelerate investment and regulatory standardization in this sector.
newsweek.com
· 2025-12-08
Americans age 60 and older lost more than $745 million to scams in the first quarter of 2025—nearly $200 million more than the same period in 2024—with losses increasing across all age groups, according to FTC data. Adults ages 60-69 reported the most incidents (60,379 cases, $355 million in losses), while those 80 and older had fewer cases but higher median losses around $1,900. The FTC and FBI recommend reporting scams through reportfraud.ftc.gov and ic3.gov, and encourage families to discuss common scam tactics with older relatives.