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bankingjournal.aba.com
· 2025-12-08
Generative AI tools are significantly enhancing traditional fraud schemes by enabling scammers to create convincing impersonations through voice cloning (available for $5/month), deepfake avatars, and AI-generated emotional audio effects. Criminals exploit open-source AI capabilities and services like "FraudGPT" to execute more sophisticated versions of classic scams such as business email compromise and grandparent scams, making them harder to detect even when victims attempt verification calls. Experts recommend families establish authentication protocols like shared passwords to combat these AI-enhanced impersonation frauds.
the420.in
· 2025-12-08
An 87-year-old retired doctor in Mumbai lost ₹16.14 lakh after a scammer posing as a BMC pest control official sent her a phishing link, compromising her mobile banking and enabling over 40 unauthorized transactions across multiple accounts between December 2024 and January 2025. The fraudster initially tricked the victim by requesting a ₹50 registration fee and assuring a refund, but once the malicious link was clicked, funds were systematically siphoned from her Kotak Mahindra, Punjab National, and Axis Bank accounts. The West Cyber Police registered an FIR and are investigating the case as a phishing scam
paymentsjournal.com
· 2025-12-08
Cybercriminals are launching increasingly sophisticated tax-themed phishing campaigns during tax season, using generative AI to create convincing emails impersonating the IRS and tax preparation services like TurboTax and H&R Block. These emails contain malicious links and PDFs that install malware or remote access trojans when clicked, exploiting consumers' time pressure and anxiety about filing deadlines. Security experts recommend that legitimate service providers direct customers to official websites and apps rather than sending links via email or text, and emphasize that the IRS never contacts taxpayers via email or phone to request personal information.
communitynewspapers.com
· 2025-12-08
Frauds and scams are escalating in Miami-Dade County, with consumers nationwide reporting over $12.5 billion in losses to fraud in 2024—a 25 percent increase from the previous year—and seniors facing particular vulnerability to identity theft, telemarketing fraud, and fraudulent solicitations. In response, District 5 Commissioner Eileen Higgins launched Lunch and Learn workshops in partnership with the county's Consumer Protection Division, which have educated over 100 seniors across low-income housing communities with ten workshops planned total. The workshops provide practical fraud prevention strategies, including guidance on protecting personal information, recognizing scams, monitoring financial accounts, and reporting suspicious activity to
investopedia.com
· 2025-12-08
Scammers are increasingly targeting 401(k) retirement accounts through multiple methods including phishing emails, fake investment platforms, impersonation phone calls and text messages, robocalls with AI voice impersonations, and fraudulent rollover schemes. To protect retirement savings, individuals should use two-factor authentication, create strong unique passwords, monitor account notifications, and only conduct rollovers with trusted financial institutions while remaining vigilant against suspicious communications and fake investment opportunities.
sjcda.org
· 2025-12-08
This article combines information about San Joaquin County's District Attorney's office commitment to public safety with educational guidance from the Federal Trade Commission on protecting families from text message scams. The FTC advises parents to teach children to recognize scam texts impersonating legitimate companies and banks, avoid clicking links or sharing personal information, and report suspicious messages, as these scams can lead to identity theft and financial loss. The article also describes Family Justice Centers as collaborative resources that provide comprehensive support to victims of domestic violence, human trafficking, sexual assault, elder abuse, child abuse, and stalking.
tradingview.com
· 2025-12-08
Australia's financial regulator (ASIC) obtained a court order to shut down 95 companies linked to "pig butchering" scams—sophisticated investment and romance fraud schemes where criminals build trust with victims over weeks before directing them to fake trading platforms for forex, crypto, and commodities. These organized criminal networks, often operating from countries like Myanmar and Eastern Europe, target high-income individuals globally by using fake websites, stolen identities, and complex deception tactics to create false legitimacy. Despite regulatory efforts to remove scam websites and shut down fraudulent companies, Australians lost AU$2.74 billion to financial fraud in the most recent reporting period, though losses declined 13.1
asic.gov.au
· 2025-12-08
ASIC successfully obtained Federal Court orders to wind up 95 companies incorporated with false information that were suspected of facilitating "pig butchering" scams (romance baiting scams) involving fake investment platforms for forex, digital assets, and commodities trading. The scammers used professional-looking websites and apps to trick victims into depositing money into accounts controlled by fraudsters, with some companies potentially incorporated using stolen identities. ASIC warns consumers remain highly vigilant against these sophisticated scams, noting it removes approximately 130 scam websites weekly as part of its ongoing enforcement efforts.
bristolpost.co.uk
· 2025-12-08
A Nationwide Building Society study found that 25% of Brits have been defrauded by ticket scammers, losing an average of £82 per person, with the problem expected to worsen as Glastonbury's final ticket resale approaches. High demand, limited supply, and fear of missing out create ideal conditions for fraudsters, with over half of respondents willing to buy from unofficial sources and 40% willing to purchase counterfeit tickets. The research highlighted victim stories, including a café owner who lost £1,500 to a fake crew pass seller, and Nationwide urged ticket buyers to use their free Scam Checker Service before making purchases.
express.co.uk
· 2025-12-08
Research by Nationwide Building Society reveals that one in four Britons (25%) have fallen victim to ticket scams, losing an average of £82 each, with high-demand events like Glastonbury creating ideal conditions for fraud exploitation. Over half of survey respondents admitted they would consider buying from unofficial sources, with those aged 25-34 showing the highest risk tolerance, and victims experiencing significant emotional distress beyond financial loss. Nationwide urges ticket buyers to use their free Scam Checker Service to verify transactions and avoid purchasing from unauthorized sellers, particularly during high-demand resale periods.
dailystar.co.uk
· 2025-12-08
Julie-Anne Kearns, a 47-year-old NHS worker and anti-scam TikTok creator, was targeted by a dating scam in November 2022 when a fraudster posing as a military surgeon attempted to trick her into buying an iTunes gift card; she avoided the scam through image verification but later discovered her identity had been stolen. In December 2024, Kearns learned that identity thieves had used her personal information to apply for loans with three different lenders (Lendable, Moneybarn No 1, and Billing Finance Limited), prompting her to lock her credit file to prevent further fraud attempts.
uk.news.yahoo.com
· 2025-12-08
Julie-Anne Kearns, a 47-year-old NHS worker from Dorset who runs a TikTok scam awareness account with over 10,000 followers, fell victim to identity theft in December 2024 when fraudsters attempted to take out loans in her name through three different lenders (Lendable, Moneybarn No 1, and Billing Finance Limited), likely using cloned copies of her passport and driving licence. Despite her extreme vigilance and efforts to prevent fraud, she discovered the identity theft through a credit report and subsequently locked her credit file, though she remains uncertain how the criminals obtained her personal information.
states.aarp.org
· 2025-12-08
Research shows veterans and active-duty military service members are nearly 40 percent more likely than civilians to fall victim to fraud, with scammers frequently impersonating Department of Veterans Affairs officials to exploit confusion surrounding government benefits programs. AARP Wisconsin is launching multiple initiatives to combat this threat, including a Veterans Fraud Center workshop, regional "Scam Jams" events, and a new Southeastern Wisconsin AARP Veterans Advisory Council to provide resources and fraud protection education. Scammers have particularly targeted veterans since 2022 regarding PACT Act benefits through email, phone, and social media schemes.
johnsoncitytn.org
· 2025-12-08
The Johnson City Police Department reported a rise in phone scams where callers impersonate law enforcement, government agents, or company representatives to pressure victims into purchasing gift cards, sending cryptocurrency, or sharing financial information by claiming urgent issues like pending arrests or compromised bank accounts. Victims have been contacted via phone, social media, text, and other platforms, with scammers requesting gift card numbers after purchase to access funds immediately. The JCPD emphasizes that legitimate law enforcement never demands payment to avoid arrest and advises the public to hang up on suspicious callers and report them to Crime Stoppers, noting that older adults are particularly targeted in these scams.
hk-now.com
· 2025-12-08
The Killingworth Committee on Aging is hosting a free educational session on May 3, 2025, presented by attorney Don Phillips to help seniors recognize and prevent scams targeting older adults. The program will cover common scams, why seniors are targeted, how to identify suspicious communications, and steps to take if victimized, followed by a question-and-answer discussion.
wtsp.com
· 2025-12-08
A Manatee County, Florida woman lost $2,400 in a spoofed bank and FTC impersonation scam after receiving a fraudulent email claiming an unauthorized Apple charge on her Chase account. The scammer posed as both a bank representative and FTC official, convincing her to purchase gift cards at multiple retailers (Lowe's, Walmart, and Winn Dixie) under the false premise that authorities were tracking a hacker. The FTC reports that fraud losses increased 25% in 2024, with seniors losing over $2.3 billion, and emphasizes that legitimate government agencies never demand gift card payments or threaten to freeze accounts.
justice.gov
· 2025-12-08
The U.S. Secret Service seized the web domain NFT-UNI.com, which was used in a "pig butchering" cryptocurrency scam that defrauded a Warren County victim of approximately $172,405.61 between November 2023 and March 2024, with total losses across all victims reaching approximately $4,564,936.47. In pig butchering schemes, scammers build trust with victims through dating apps, social media, or text messages before convincing them to invest in fraudulent cryptocurrency platforms, then disappearing with their funds. This is the second domain seizure by the Secret Service in Warren County related to this type of scheme, as part
mitrade.com
· 2025-12-08
Australia's Securities and Investment Commission (ASIC) shut down 95 companies operating as fronts for crypto romance scams following Federal Court approval, with liquidators appointed to manage the wind-down. Over 1,500 victims from 14 countries have filed claims totaling more than $35 million, with scammers using fake company registrations, stolen identities, and AI-generated content to perpetrate "pig butchering" schemes that increased 40% between 2023-2024. Despite ASIC taking down over 10,000 fraudulent websites, regulators warn that scams remain persistent and evolving, though Australia saw a 26% decline in total sc
cointelegraph.com
· 2025-12-08
Australia's corporate watchdog (ASIC) secured court approval to shut down 95 "hydra" companies suspected of operating "pig butchering" scams—romance and cryptocurrency investment frauds where scammers build fake relationships to manipulate victims into investing in fraudulent schemes. Nearly 1,500 investors across 14 countries filed claims totaling over $35.8 million in losses, with the scam activity believed to originate largely from Southeast Asia. ASIC has removed over 10,000 scam websites in recent efforts, though the regulator warns that new fraudulent sites continue to emerge rapidly.
wmar2news.com
· 2025-12-08
The FBI launched "Operation Level Up" in January 2024 to proactively contact victims of cryptocurrency investment scams in progress, using emails and phone calls to prevent further money transfers. From January 2024 to February 2025, the FBI contacted over 5,000 victims and estimated it saved approximately $318 million in planned transfers, with 76 percent of contacted victims unaware they were being scammed. The scammers typically pose as romantic interests or influencers on social media, build trust over weeks, then direct victims to fake investment websites promising high cryptocurrency returns before requesting increasingly larger deposits.
investopedia.com
· 2025-12-08
Research identifies loneliness and financial fragility as the two most significant risk factors for elder financial fraud victimization. Socially isolated individuals are more vulnerable to relationship-based scams (romance, pig-butchering, affinity fraud) because they lack trusted contacts to validate suspicious offers, while financial stress impairs rational decision-making and increases willingness to take risky financial gambles that fraudsters exploit.
bucks.crimewatchpa.com
· 2025-12-08
This educational article outlines common scams targeting seniors—including phone scams, phishing, romance fraud, investment schemes, charity scams, home repair fraud, identity theft, and grandparent scams—and provides practical prevention strategies. Key protective measures include being skeptical of unsolicited contact, safeguarding personal information, avoiding rushed decisions, recognizing communication red flags, verifying identities before trusting, staying informed about technology, and building a support network. The article emphasizes that seniors can protect themselves and their finances through knowledge and vigilance, offering resources like the AARP Fraud Watch Network and National Elder Fraud Hotline for additional support.
securitymagazine.com
· 2025-12-08
Cybersecurity experts warn that AI is enabling increasingly sophisticated tax fraud and scams, with malicious actors using AI-generated phishing emails, deepfakes, and voice impersonations to target individuals during tax season, capitalizing on the $9.1 billion in tax and financial fraud identified by the IRS in 2024. Key threats include AI-enhanced phishing attacks mimicking trusted entities like the IRS, credential stuffing exploiting reused passwords, and malicious files hosted on legitimate cloud platforms. Defenders are advised to verify requests through independent channels, use strong unique passwords with multi-factor authentication, implement fraud alerts with credit bureaus, and remain skeptical of urgent communications received via email
6abc.com
· 2025-12-08
Scammers are increasingly using artificial intelligence to perpetrate tax-related fraud, sending realistic emails, texts, and calls impersonating the IRS while also creating fake tax filing websites and using AI voice technology to pose as legitimate tax preparers. The schemes aim to steal personal information, demand payments, or redirect refunds. Consumers should avoid clicking unsolicited links, verify the authenticity of preparers and websites before sharing information, and remember that the actual IRS does not initiate contact via phone, text, or email to demand payment.
cbsnews.com
· 2025-12-08
A Chicago graduate student fell victim to an elaborate employment scam involving a fake remote proofreader job listing impersonating a legitimate California school serving international students; the victim provided personal information including her Social Security number and bank account details during the fake onboarding process, only recognizing the scam when asked to purchase equipment for reimbursement. Her Social Security number was found on the dark web within two days of enrolling in identity theft monitoring services, and the real school reported receiving inquiries from approximately 10 other victims of the same scam.
spokanejournal.com
· 2025-12-08
Business Email Compromise (BEC) scams targeting companies and their employees have surged in sophistication due to AI availability, with cybercriminals posing as vendors or trusted contacts to trick employees into sending money or data. Between 2013 and 2023, BEC scams resulted in over $55 billion in losses, with a 9% increase in losses between December 2022 and December 2023, and 71% of businesses reporting BEC attempts in 2022. Financial institutions in the Inland Northwest are launching educational programs to warn businesses, particularly small business owners and accounts payable personnel who are primary targets, that verification procedures and email security awareness are critical
shreveporttimes.com
· 2025-12-08
Ticketmaster scams are increasing nationwide, with victims losing thousands of dollars when hackers gain account access and steal tickets, as exemplified by a St. Louis woman and multiple Taylor Swift "Eras Tour" fans. To protect accounts, users should create strong unique passwords, purchase only from official Ticketmaster channels, and watch for common scams including phishing emails, lookalike websites, fake support numbers, account takeovers, and unauthorized ticket transfers.
spokanejournal.com
· 2025-12-08
Washington Trust Bank employees launched a Senior Fraud Awareness workshop series in April 2023 to combat rising scams targeting older adults, after branch staff witnessed seniors being pressured to withdraw cash while on phone calls with scammers. The trio of bank managers has conducted five workshops in Spokane senior living communities and plans to expand regionally, providing FTC data, practical fraud prevention tips, and resources for reporting elder fraud. According to federal data, older adults lost over $1.9 billion to fraud in 2023 alone, with estimates suggesting actual losses could reach $61.5 billion.
aarp.org
· 2025-12-08
US Postal Inspector Cory McManus led an investigation into an elaborate romance scam network operated by Wisdom Onyobeno from Atlanta, which stole millions of dollars from dozens of victims. After arresting two money mules who recruited victims and managed bank accounts ("strikers"), investigators traced the operation back to Onyobeno, who posed as a romantic interest to manipulate victims into sending money and even selling their homes. Onyobeno pleaded guilty and was sentenced to 10 years in federal prison.
wbay.com
· 2025-12-08
Scammers are increasingly using artificial intelligence to personalize fraud schemes, moving beyond generic text and email scams to create convincing deepfake audio and video impersonations. Experts warn that AI allows fraudsters to manipulate personal information from social media and celebrity audio to create fake calls from grandchildren asking for money or fabricated celebrity investment pitches that appear authentic. Consumers are advised to pause and independently verify any urgent requests for money before responding.
forbes.com
· 2025-12-08
Tax fraud schemes in 2025 have become far more sophisticated, leveraging generative AI, deepfake audio, and social engineering to create nearly authentic-looking IRS communications—with nearly half of Americans reporting receipt of fake IRS messages and 55% believing these scams are more convincing than ever. Scammers now use AI-generated personalized emails and voice messages, along with deceptive delivery methods like QR codes and malicious PDFs, to steal credentials and distribute malware, exploiting victims' fear and urgency to pressure quick decisions. Cybersecurity experts recommend layering defenses including multi-factor authentication, credit freezes, IRS Identity Protection PINs,
ky3.com
· 2025-12-08
A woman in Battlefield, Missouri received threatening text messages from a scammer demanding $500 and including graphic images of dismembered bodies, prompting a 911 call to police. Police warn that scammers use emotionally manipulative messages—including threats, explicit content, and impersonations—targeting people of all ages, though seniors are particularly vulnerable. Victims should immediately call 911 and report scams to the Better Business Bureau to prevent others from being targeted.
10news.com
· 2025-12-08
As the April 15 tax filing deadline approached, scammers increasingly used AI-generated phishing emails, texts, and fake IRS letters to target taxpayers, with these fraudulent communications now featuring proper grammar, real personal information, and authentic refund histories. Red flags include messages creating urgency and requests for immediate action via unsolicited phone calls or texts, while the IRS only contacts people by mail; taxpayers should verify any IRS correspondence through the official IRS website or a certified tax preparer. Security experts advise victims not to feel guilty and to take corrective action immediately if compromised.
bbc.com
· 2025-12-08
QR code scams ("quishing") reported to UK Action Fraud surged 14-fold from 100 cases in 2019 to 1,386 in 2024, with criminals placing fraudulent codes on parking meters, restaurant menus, parcels, and emails to direct victims to fake websites where they surrender banking details. Victims often lose small amounts initially (£2.99-£39) that go unreported, but scammers use this stolen data to launch secondary fraud attempts through impersonation of banks or authorities. Experts warn that underreporting and the difficulty distinguishing legitimate from fraudulent QR codes present significant challenges for law enforcement efforts globally.
states.aarp.org
· 2025-12-08
AARP identifies six major scams threatening consumers in 2025, with particular risks for older adults: AI-powered scams using deepfakes and convincing phishing, imposter scams impersonating trusted figures, employment scams targeting job seekers with fake offers, tech support scams (which cost Americans 60+ over $175 million in 2023), romance scams exploiting emotional connections, and cryptocurrency scams (resulting in $1.6 billion in losses for those 60+ in 2023). The article advises vigilance against sophisticated tactics, emphasizing that legitimate companies don't request Social Security numbers during hiring, tech support representatives shouldn't demand remote access, and legitimate
tribtoday.com
· 2025-12-08
Scammers are targeting E-ZPass users with text message phishing scams that impersonate toll authorities and threaten license suspension or vehicle seizure to trick victims into providing credit card numbers. Additionally, criminals use wireless skimmers to steal E-ZPass transponder codes from vehicles and sell cloned passes on the dark web, detectable when unauthorized toll charges appear on statements. The Ohio Turnpike never initiates contact via text or email about unpaid tolls—legitimate notices arrive by mail—and victims should delete suspicious messages, cancel compromised cards immediately, and store transponders in foil-lined bags to prevent code theft.
wionews.com
· 2025-12-08
Criminals across Britain are conducting "quishing" scams by placing fake QR codes over legitimate ones in high-traffic locations like parking meters and restaurant menus, with reported victims surging from 100 in 2019 to 1,386 in 2024. When victims scan the fraudulent codes to make contactless payments, they unknowingly transfer money to organized crime gangs and expose their personal information, which criminals then use in follow-up calls impersonating police or bank officials to extract additional sensitive data and larger sums of money. Authorities acknowledge the difficulty in distinguishing fake QR codes from genuine ones and urge people to report even small fraudulent transactions to prevent further vict
coinfomania.com
· 2025-12-08
A 34-year-old Nigerian national, Charles Uchenna Nwadavid, was arrested at Dallas-Fort Worth International Airport in April 2024 after operating a sophisticated romance scam between 2016 and 2019 that defrauded victims of $2.5 million in cryptocurrency. Nwadavid created fake online personas to manipulate at least one primary victim in Massachusetts into unknowingly facilitating the transfer of over $2.5 million through remote account access and peer-to-peer crypto platforms. He faces up to 40 years in federal prison on charges of mail fraud and money laundering following his indictment by a Boston federal grand jury
nasdaq.com
· 2025-12-08
While Apple devices offer stronger security than many competitors, Apple users remain vulnerable to social engineering scams targeting their money. Common scams include E-ZPass text message phishing (fake toll warnings linking to malware), Apple gift card fraud (scammers posing as creditors requesting payment via gift cards), and Apple Cash scams (fraudsters requesting peer-to-peer payments via social media or marketplace platforms). Users can protect themselves by verifying account information directly through official websites, remembering that Apple gift cards only purchase Apple products, and avoiding money transfers to unknown parties through Apple Cash.
newslj.com
· 2025-12-08
This article compiles multiple fraud and cybersecurity alerts: a Wyoming resident received a fake PayPal email demanding $379.99 in Bitcoin with artificial urgency, and another resident fell for a suspicious University of Wyoming impersonation email containing a QR code. The piece also highlights that 40 million Americans lost $47 billion to identity fraud in 2024, recommends protective measures like automatic updates and document shredding, and reports on a ChatGPT security vulnerability (CVE-2024-27564) that enabled over 10,000 attack attempts in one week targeting financial institutions, plus a separate Oracle data breach exposing 6 million records including usernames, emails,
yahoo.com
· 2025-12-08
Cybersecurity researcher David Maimon discovered scammers selling access to Social Security accounts online, with the goal of taking over victims' benefit payments by changing account details and redirecting funds to fraudulent accounts. Scammers gain access through stolen login credentials and phishing attempts, and the Social Security Administration is implementing new in-person identity verification requirements (as of April 14) to combat the fraud. To protect accounts, beneficiaries should regularly monitor their "my Social Security" accounts, avoid clicking suspicious links, enable two-factor authentication, and never provide cash or personal information to unsolicited callers claiming to be law enforcement.
ktnv.com
· 2025-12-08
**Summary:**
Scammers are using phishing schemes to deceive people with fake messages claiming they owe tariff fees to the government, complete with urgent payment demands and fraudulent links. Cybersecurity experts warn that individual Americans do not pay tariffs directly—only importing companies do—and advise recipients never to click unfamiliar links or provide payment, even if messages appear to come from official government sources. The article also alerts seniors to related scams involving false jury duty payment demands.
techbullion.com
· 2025-12-08
**Article:** "As cybercriminals develop increasingly sophisticated techniques, elderly individuals have become prime targets for fraud"
Cybercriminals increasingly target elderly individuals with sophisticated fraud schemes, prompting development of AI and network security innovations designed specifically to protect seniors. Key prevention technologies include real-time threat detection using machine learning to identify anomalous transaction patterns, personalized behavioral analysis that adapts to individual user habits, enhanced authentication methods like voice biometrics and fingerprint recognition, AI-driven call and message filtering to block scams before reaching victims, and predictive fraud prevention systems. These interconnected security measures aim to create robust digital defenses that balance strong protection with user-friendly interfaces accessible to less
cowboystatedaily.com
· 2025-12-08
Employer impersonation scams and company spoofing fraud are increasingly prevalent in Wyoming, with scammers using stolen logos, emails, and AI-generated content to impersonate legitimate companies like PayPal, Amazon, USPS, and Best Buy's Geek Squad. The scams typically trick victims into clicking malicious links or submitting personal and banking information by exploiting psychological vulnerabilities through fear, emotions, and false job opportunities offering high pay. Experts recommend never clicking links in unsolicited emails or texts and instead verifying directly with companies through their official websites.
forbes.com
· 2025-12-08
Dating app users face increasing risks from romance scams, catfishing, and fraudulent profiles, prompting platforms to implement identity verification technologies. Users can protect themselves by verifying identities through multi-layered verification tools, avoiding profiles that seem too perfect or pressure quick money transfers, keeping personal information private, staying alert to bots, and reporting suspicious activity to the platform. Choosing dating apps with strong safety records and privacy protections is essential for fostering a secure online dating experience.
livemint.com
· 2025-12-08
Criminals increasingly use generative AI to impersonate loved ones in urgent scams demanding money; a Colorado woman lost $2,000 in a kidnapping hoax before discovering her daughter was safe. The article provides nine protective strategies including: locking down social media profiles, blocking unknown callers, establishing family code words, distrusting caller ID spoofing, managing panic through calming techniques, and silently texting the person being impersonated to verify their safety.
fingerlakes1.com
· 2025-12-08
Scammers are stealing Social Security account credentials through phishing attacks and selling full access on the dark web, then rerouting benefit payments to fraudulent accounts—with the SSA reporting cases involving monthly benefits of $1,855 or more being diverted. The Social Security Administration is implementing new in-person identity verification requirements starting April 2025, though this faces criticism due to concurrent staffing cuts of nearly 12%. Protection strategies include enabling two-factor authentication, regularly monitoring accounts, avoiding phishing links, freezing credit, and reporting suspected fraud to the SSA Office of the Inspector General.
kauainownews.com
· 2025-12-08
The Kaua'i Police Department is warning residents, particularly elderly kupuna, about a "pig butchering" cryptocurrency scam in which fraudsters build trust with victims through social media, phone calls, and text messages before convincing them to invest money in fake cryptocurrency schemes and then disappearing with their funds. The scam exploits emotional manipulation and promises of high returns, with warning signs including unsolicited contact from strangers, requests for secrecy, and pressure to use unfamiliar cryptocurrency platforms. Residents are advised to avoid sending money to online-only contacts, be skeptical of unsolicited messages, and consult trusted family members before making financial decisions.
paymentsjournal.com
· 2025-12-08
Consumers face increasingly common scams such as fake toll bill texts and fraudulent service provider listings, yet many financial institutions fail to adequately budget for scam prevention and detection technology. While the Federal Reserve's free ScamClassifier system helps standardize fraud documentation and tracking, many banks remain unaware of or reluctant to adopt it due to the significant integration costs and legacy system modifications required. The article emphasizes that prioritizing fraud prevention in organizational budgets is essential to combating the growing sophistication and persistence of scam tactics.