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latintimes.com
A 79-year-old Narragansett man lost $35,000 in cash and $135,000 in gold bars to an online scam in which fraudsters falsely claimed he was under investigation for child pornography and money laundering, then physically collected the assets from his home. Two men—Jirui Liu of Canada and Kush J. Patel of Connecticut—were arrested and charged with wire fraud, money laundering, and conspiracy; Liu was caught attempting to collect a final $160,000 payment when police intervened, while Patel separately defrauded a 72-year-old victim of nearly $300,000 in gold bars
newshub.medianet.com.au
International Justice Mission (IJM) Australia presented evidence to a parliamentary committee highlighting social media companies' inadequate responses to crimes facilitated on their platforms, including livestreamed child sexual abuse and fraudulent job advertisements that lead to worker trafficking. The organization noted that while AI tools exist to detect and block such content, platforms like Facebook and Skype are not implementing them, and called for stronger action given that Australians lost over $210 million to romance scams in 2022-23 and online child abuse reports increased 45% year-over-year.
justice.gov
Two individuals were charged in federal court for operating online scams targeting Rhode Island seniors. Jirui Liu, 22, of Canada, defrauded a 79-year-old man of $35,000 in cash and $130,000 in gold bars through a scheme involving fake pop-up warnings and impersonation of federal authorities; Kush J. Patel, 22, of Connecticut, defrauded a 72-year-old victim of approximately $363,000 in gold bullion using similar tactics. Both perpetrators were ordered detained and face charges including wire fraud, conspiracy to commit wire fraud, money laundering, and conspiracy to commit money laundering
abc6.com
Two men—22-year-old Jirui Liu of Ontario and 22-year-old Kush J. Patel of Connecticut—have been charged with wire fraud and money laundering for running online scams targeting Rhode Island seniors. Liu's scheme defrauded a 79-year-old man of $35,000 in cash and $130,000 in gold bars, while Patel's scam victimized another Rhode Islander of approximately $200,000. Both defendants have been detained and appeared in court.
dailydodge.com
Investment scams are rising and have surpassed online shopping scams in complaints, according to a Better Business Bureau study. Scammers target victims' desire for easy money through complex cons involving false business opportunities or portfolio schemes, often convincing victims that bank employees are complicit in fraud to prevent them from seeking help from financial institutions. Experts recommend verifying investment opportunities through research, consulting trusted professionals at financial institutions, and avoiding pressure tactics or demands for immediate payment.
fallriverreporter.com
Two individuals were arrested and ordered detained for their roles in online scams targeting Rhode Island seniors. Jirui Liu, 22, of Canada, was charged in a scheme that defrauded a 79-year-old Narragansett man of approximately $165,000 (cash and gold bars) after a pop-up falsely claimed he was under investigation for child pornography and money laundering; Kush J. Patel, 22, of Connecticut, was charged in a separate scheme where a 72-year-old Tiverton man was defrauded of nearly $200,000 through similar tactics involving a fake FTC agent. Both perpetrators
technologyforyou.org
Malwarebytes research found that over 66% of survey respondents were targeted by romance scams, with 10% of victims losing more than $10,000 and 3% losing $100,000 or more, while 94% were unable to recover their losses. The scams predominantly target individuals over 55 (74%) and males (56%), though younger demographics are also affected, with 26% of victims engaging with scammers for extended periods—some relationships lasting a year or longer. Key protective measures include verifying identities, keeping personal information private, consulting trusted third parties before financial transactions, and reporting suspicious activity to authorities.
decripto.org
US authorities recovered over $6 million in stolen cryptocurrencies from Southeast Asian fraudsters who targeted multiple victims through text messages, dating apps, and investment groups, directing them to fake investment platforms that promised high returns. The FBI used blockchain technology to trace the stolen funds, and Tether assisted by blocking the scammers' wallets, enabling rapid recovery despite the international complexity of the case. This recovery highlights a larger crisis: cryptocurrency investment scams caused $3.9 billion in losses in 2023, with fraudsters often targeting vulnerable individuals desperate for investment opportunities, including some who took additional mortgages on their homes.
semissourian.com
This educational piece from the Missouri Secretary of State identifies five common investment fraud schemes targeting seniors: unlicensed online brokerage management, unregistered traders/brokers, Ponzi schemes, fake real estate investments, and fraudulent investment "fads." The article was prompted by recent local cases involving hundreds of thousands of dollars allegedly stolen from seniors and serves as a cautionary reminder for the aging population to verify credentials and be skeptical of unsolicited investment offers.
timesofindia.indiatimes.com
A 70-year-old woman from Chennai lost ₹1 crore in a FedEx scam involving impersonation by fraudsters posing as police/CBI officers who falsely accused her of illegal activities and instructed her to transfer funds for verification. Between January and August, Chennai's cybercrime unit registered over 250 cases including 45 FedEx scams and 80 online trading frauds, predominantly affecting high net-worth elderly individuals, prompting authorities to launch awareness campaigns through SMS, awareness camps, and partnerships with pensioners' and residents' associations.
cardanofeed.com
A fraudulent wallet app impersonating WalletConnect was available on Google Play Store for four months, stealing over $70,000 in cryptocurrency through phishing scams that duped approximately 150 of its 10,000 users into approving unauthorized transactions. The scam highlights ongoing threats in the cryptocurrency space, though overall crypto fraud losses declined 40% in Q3 2024 compared to the prior year.
tuko.co.ke
Kikuyu gospel musician John Apple invested KSh 250,000 in an online investment scheme that promised returns within 24 hours but resulted in total loss of his funds. Emerging WhatsApp chats revealed that Apple fell into severe depression after being unable to recover his money and reportedly took his own life, prompting public discussion about the dangers of investment scams targeting young people in Kenya.
finance.yahoo.com
This educational article warns that cryptocurrency and investment scammers are increasingly sophisticated, with recent research showing $75.3 billion moved into suspicious exchange accounts including $15.2 billion from U.S. investors. Key warning signs include unsolicited contact via phone/email/social media, promises of unrealistic returns with little risk, pressure to act quickly, and overly complicated strategies that only the scammer can explain. The article advises verifying investment professionals' credentials through FINRA BrokerCheck or SEC databases and being skeptical of any opportunity that sounds too good to be true.
thetimes.com
Broadcaster Moira Stuart nearly fell victim to an authorized push payment (APP) fraud scam when someone impersonating her bank convinced her to transfer money to a "safe" account, but bank staff intervened and stopped the transaction. APP fraud incidents exceeded 230,000 cases in the most recent year, resulting in £460 million in losses, with fraudsters increasingly using artificial intelligence and evolving tactics including purchase scams, investment schemes, romance scams, and impersonation fraud targeting energy suppliers and tax authorities. Banks are struggling to refund victims, and regulators have capped APP scam refunds at £85,000 starting October 7.
sandhillsexpress.com
A U.S. man lost $700,000 in an elaborate romance scam orchestrated from Ghana. CBS News investigation revealed that sophisticated overseas romance scams—which have evolved from simple "Nigerian Prince" emails—are costing Americans over $10 billion annually, with scammers operating from "boiler rooms" in Ghana where young men pose as attractive women on dating apps to target lonely, older American victims, with criminal syndicates taking large cuts of the money extracted.
verywellmind.com
This educational guide explains romance scams, a type of fraud where criminals build fake romantic relationships to extract money from victims. The article outlines common tactics (including catfishing), warning signs, and vulnerable populations targeted by scammers, while noting that the FTC reported $304 million in losses from romance scams in 2020—a 50% increase from 2019. The guide provides advice on protecting oneself and recovering from romance fraud, emphasizing that victims should not be blamed for falling for such schemes.
cftc.gov
The CFTC charged individuals including Bai and Lan Bai and their entities Aipu and Fidefx with defrauding at least 32 customers, primarily Asian Americans, of at least $3.6 million through a fake commodity trading platform scheme operating from February 2023 onward. Solicitors contacted victims via social media platforms claiming insider knowledge to generate 10-30% profits per trade, but no actual trading occurred; instead, victims' funds were immediately transferred to offshore accounts. The CFTC is seeking restitution, disgorgement of ill-gotten gains, civil penalties, trading bans, and a permanent injunction against the defendants.
cbsnews.com
CBS News investigated romance scams originating from Ghana that have defrauded Americans of over $10 billion according to the Federal Trade Commission. The scammers operate from "boiler rooms" in Accra where young men pose as attractive women on dating apps to build trust with lonely victims, particularly older American men, before convincing them to send money; the scammers retain 40% of funds while their syndicate bosses take 60%. The operation has evolved from crude "Nigerian Prince" emails into a sophisticated, billion-dollar transnational criminal enterprise that exploits vulnerable Americans through emotional manipulation and identity deception.
postandcourier.com
Two Lexington men, Kenneth J. Brown Jr. and Nicholas R. Shepard, pleaded guilty in September 2024 to wire and mail fraud after scamming at least five victims across five states out of over $500,000 through email and romance scams between December 2021 and 2022. The pair operated Golden Eagle Precious Metals Exchange and converted stolen funds into cryptocurrency, facing potential sentences of up to 20 years in federal prison and $250,000 fines.
postandcourier.com
Two Lexington men pleaded guilty to conspiracy to commit wire and mail fraud after scamming at least five victims across five states out of more than $500,000 through email and romance scams between December 2021 and late 2022. Kenneth J. Brown Jr. and Nicholas R. Shepard, who owned Golden Eagle Precious Metals Exchange, converted stolen funds into cryptocurrency and face up to 20 years in federal prison and $250,000 in fines. The scams targeted individuals from Colorado to Florida, with victims losing thousands of dollars each in schemes involving false claims about money transfers and fraudulent romance solicitations.
businessinsider.com
Laura Kankaala, head of threat intelligence at Finnish cybersecurity firm F-Secure, explains how online scams and ransomware attacks have evolved dramatically during her nearly 10-year career—from rare incidents to daily occurrences. Hackers increasingly use sophisticated tactics including fake profiles, phishing sites, and malware to steal data and money from victims, exploiting the expanded digital exposure created by smartphones, remote work, and social media. Cybercriminals monetize stolen data through ransomware attacks, account compromises, and data sales, with new scams emerging constantly as technology becomes more integrated into daily life.
koco.com
Elder fraud in Oklahoma increased 15% from 2022 to 2023, with nearly 1,000 seniors over age 60 falling victim to scams and losing over $22 million in total. The most common fraud schemes targeting seniors are fake tech support and romance scams, with criminals exploiting seniors' accumulated wealth; the FBI advises victims and potential victims to hang up, log off, and walk away from any pressure to conduct financial transactions.
mirror.co.uk
A 46-year-old single mother from London was defrauded of £18,000 across two separate scams initiated through a dating app. She was first lured by a man using the fake name "Gabriel" on the app Happn into a fraudulent investment scheme where initial payments of £600 and £1,500 were promised substantial returns; when told she needed to pay additional fees and taxes to access her supposed £39,078 profit, she realized the scam but had already lost approximately £10,000. Desperate to recover her losses, she fell victim to a second scam involving fake online work tasks, ultimately borrowing £11,000 from friends and family
jdsupra.com
Pig butchering crypto scams involve fraudsters building trust with victims through fake identities and relationships on social media platforms like WhatsApp, LinkedIn, and Instagram before directing them to fraudulent cryptocurrency trading platforms and stealing their money. The SEC filed its first enforcement actions against these scams in September 2024, charging eight defendants in connection with fake platforms NanoBit and CoinW6, while the CFTC and other federal agencies have partnered to distribute educational materials warning consumers that these scams cost Americans billions annually. Victims are advised to ignore unsolicited messages from strangers and report suspicious contacts to prevent becoming targets of this rapidly growing fraud scheme.
cbsnews.com
Jill Gogel, vice president of fraud services at Dupaco Community Credit Union in Iowa, has implemented a comprehensive fraud prevention program that requires all employees to receive annual training on spotting suspicious transactions and unusual withdrawal patterns among the credit union's 170,000 members. Since launching the initiative 10 years ago, Dupaco has increased its fraud prevention from $300,000 to an estimated $10 million in blocked losses annually, using proactive measures such as employee communication, customer outreach, and coordination with local law enforcement. The credit union's approach is being highlighted as a model that larger banking institutions should adopt, particularly given that victims over 60 lose $28.3 billion
prnewswire.com
Malwarebytes research reveals that romance scams affected over 66% of survey respondents, with 10% losing more than $10,000 and 3% losing $100,000 or more—yet 94% of victims recovered none of their money. The scams disproportionately target people over 55 (74% of victims), often through social media (38%) and dating platforms (31%), with 26% of victims engaged with scammers for extended periods, including 5% in year-long relationships. The study emphasizes the need for awareness, identity verification, and reporting to law enforcement, as stigma and shame prevent many victims from seeking
michigan.gov
Alex Ambrose, a 27-year-old manager at Mission Point Nursing & Physical Rehabilitation Center in Warren, Michigan, was charged with embezzling over $7,000 from eight vulnerable nursing home residents between September 2023 and January 2024. Ambrose allegedly deposited residents' checks totaling $7,792 into his personal accounts and faces four felony counts and five misdemeanor counts of embezzlement from vulnerable adults. He was released on a $20,000 bond pending preliminary examination scheduled for October 10, 2024.
northwichguardian.co.uk
Age UK Cheshire is hosting free educational events in October titled "Scam Proof? Protect Yourself and Others from Fraud" to help elderly residents and community members recognize and prevent scams. Expert speakers from local authorities, police, and the Crown Prosecution Service, along with scam survivors sharing their stories, will cover warning signs and tactics used by fraudsters across phone, online, and doorstep scams. The sessions are designed to equip participants with practical strategies to protect their personal and financial information.
justice.gov
Isaiah Okere, a 42-year-old Nigerian citizen, pleaded guilty to conspiracy to commit wire fraud after being extradited from South Africa for his role in an international scam operation targeting at least 15 victims. From 2015 to 2019, Okere and co-conspirators orchestrated romance scams, lottery scams, and business email compromise schemes that resulted in over $1 million in losses, with vulnerable and elderly victims losing their entire retirement savings, and one victim reporting suicidal ideation. Okere used false identities and foreign bank accounts to facilitate the fraud and money laundering scheme, and faces a maximum sentence of five years in prison.
thestar.com.my
The Bukit Aman Commercial Crime Investigation Department (CCID) director warned the public to be cautious of love scams, citing a case where a 58-year-old female lawyer lost RM1.7 million to a scammer who posed as an American marine geologist and requested loans. The CCID also reported dismantling a Pantheon Ventures investment scam involving 17 suspects that defrauded 66 victims of RM32.9 million since January, using fake investment packages promising unrealistic returns of 6-400% daily through Facebook and WhatsApp advertisements.
cbsnews.com
Pennsylvania lawmakers are considering legislation that would require banks to flag suspicious transactions—such as overseas wire transfers—and freeze them for several days while alerting law enforcement and potentially trusted family members, targeting protection for residents age 60 and older. The bill addresses a growing wire fraud problem where scammers trick elderly victims into transferring hundreds of thousands of dollars through elaborate schemes like romance scams and fake investment offers, with nearly 60% of stolen money in financial fraud cases originating from wire transfers and most never being recovered. The measure passed the Pennsylvania House in July with bipartisan support and is currently under Senate consideration.
cbsnews.com
West African "Yahoo boys" operating from Ghana conduct large-scale romance and computer repair scams, targeting vulnerable Americans (particularly widowers and elderly victims) and stealing billions in fraudulent wire transfers and gold purchase schemes. A 92-year-old retired nurse lost significant portions of her life savings to a gold scam despite repeated warnings, leading to lawsuits against banks like Charles Schwab for allegedly ignoring red flags on suspicious transactions. U.S. consumers reported over $10 billion in fraud losses in 2023—a 14% increase from 2022—as overseas-based scams exploit weak bank safeguards and psychological manipulation to drain American accounts.
nbcchicago.com
The Better Business Bureau warned of a surge in investment scams, particularly those involving cryptocurrency, with reports hitting an all-time high in 2023. Con artists typically use social media, dating apps, or hacked Facebook pages to pitch fraudulent investment opportunities, exploiting confusion around cryptocurrency to avoid detection. Average losses per victim rose from $1,000 in 2021 to nearly $6,000 in 2023, with consumers losing over $4.6 billion to investment scams across all categories in the prior year.
kelly.senate.gov
During a Senate Special Committee on Aging hearing, Arizona Senator Mark Kelly discussed the escalating threat of sophisticated fraud targeting seniors, including AI-generated voice cloning, cryptocurrency schemes, and "pig butchering" scams orchestrated by organized crime networks operating internationally, with reported losses totaling $100 billion. Law enforcement and consumer advocates emphasized the need for increased investigative resources, industry engagement, and a comprehensive national strategy to combat these crimes. Kelly highlighted his legislative efforts to protect seniors, including the Stop Senior Scams Act (2022) and the EdCOPS Act (2024), while discussing successful collaborative models like San Diego's Elder Justice Task Force.
kpbs.org
This is an educational event hosted by Osher at SDSU featuring Assistant U.S. Attorney Oleksandra Johnson, who specializes in elder fraud prosecution. The presentation covers methods criminals use to perpetrate elder financial abuse (mail, phone, computer, in-person, and media), current trending scams in Southern California including grandparent scams, romance scams, and investment scams, and warning signs of financial abuse with prevention strategies.
thehindu.com
A 45-year-old businessman in Hyderabad lost ₹28.5 lakh in an online investment scam orchestrated through a WhatsApp group that impersonated ABML stocks & securities and used a fake investment app. The scammers lured the victim with promises of high returns on stocks and IPOs, then coerced him into taking a loan and deposited the funds into a fraudulent account showing fabricated profits, ultimately preventing any withdrawals. The Hyderabad cyber crime unit filed a case after the victim reported the fraud.
click2houston.com
Scammers in Houston and nationwide are increasingly using cryptocurrency, particularly Bitcoin, to defraud victims through fake law enforcement calls claiming warrant arrests related to missed jury duty. Lt. Abraham Alanis of the Harris County Sheriff's Office reports receiving daily complaints about these calls, where criminals use spoofed phone numbers and real officer names to pressure victims into sending untraceable Bitcoin payments. According to the FBI, cryptocurrency scams resulted in 69,468 complaints nationwide in 2023 with $5.6 billion in losses, with Texas accounting for 4,770 complaints and approximately $411.9 million in losses.
kiro7.com
A middle-aged woman lost $120,000 in a cryptocurrency investment scam despite conducting thorough research, including verifying the broker's credentials through FINRA and confirming their association with Fidelity. The scammer had stolen the identity of a legitimate broker and used social engineering tactics, including fake tax demands and international permit fees, to manipulate the victim into transferring money through Crypto.com. Security experts note that sophisticated scams like this create convincing illusions and recommend meeting investment advisors face-to-face to verify their legitimacy, as the FBI reports cryptocurrency scams resulted in over $12 billion in losses.
newsnationnow.com
An Austin woman lost thousands of dollars in a warrant scam when a caller impersonating a sheriff's deputy claimed she had missed jury duty and needed to send money via Bitcoin to avoid arrest; a bank manager intervened and prevented further losses. The FBI reports that Texans over 60 lost more than $278 billion in elder fraud last year, with common schemes including investment fraud (using fake cryptocurrency accounts and withdrawal fees) and tech support scams (pop-ups claiming virus infections to trick victims into sending money for gold, cash, or crypto). Law enforcement advises victims to pause and independently verify requests before acting, and recommends reporting fraud to the Internet Crime Complaint Center.
couriernews.com
The Russellville Police Department warns that elderly individuals are increasingly targeted for financial crimes, with an estimated 37 percent of telemarketing fraud victims being seniors. The article attributes this trend to the growing aging population and seniors' accumulated resources, while advising elders to report crimes, remember that "if it sounds too good to be true, it probably is," and contact local police before committing to suspicious offers.
thetimes.com
A buyer lost £615 to a Facebook Marketplace scam when purchasing a second-hand bicycle; the seller requested payment via PayPal's friends and family option (which lacks buyer protection) and never delivered the item or responded to messages. After intervention, PayPal refunded the full amount, and the article warns that scammers increasingly exploit the friends and family payment method to avoid refunds, with Facebook scam losses rising 366% from £7 million in 2020 to £32.6 million in 2022. The advice recommends paying by cash in person when possible, or using protected payment methods like PayPal's standard goods and services option rather than bank
goldrushcam.com
On September 21, 2024, the Biden-Harris Administration announced new initiatives to support women's economic security, particularly as they age, acknowledging that women typically retire with less savings than men while living longer and facing greater financial vulnerability. The announcement included over $200 million in grants for senior employment training, nearly $3 million for emergency housing for older women experiencing abuse, and new resources for retirement planning and financial literacy. The administration also emphasized existing protections against financial fraud and scams targeting women, alongside policies to strengthen Social Security, Medicare, and Medicaid.
citizensvoice.com
State Rep. Mike Cabell hosted a free educational seminar on October 7 at Meadows Manor Community Room in Dallas to teach older residents about current financial fraud schemes and protective measures. The event, led by David Shallcross from the Pennsylvania Office of Attorney General, covered safety tips and holiday scams targeting seniors, who are frequently exploited by scammers using evolving tactics.
wtov9.com
Jeffrey Morris, a 37-year-old real estate developer in Wheeling, West Virginia, was sentenced to five years in prison for defrauding investors through forged leases, withheld information, and Ponzi-scheme payments that caused five or more victims to lose their savings. Morris must pay nearly $5 million in restitution to investors and over $500,000 to the IRS for unpaid taxes and penalties.
cbs8.com
Vista resident Jan Hoops lost approximately $24,000 in a gift card scam after a pop-up alert directed her to call a fake Microsoft number; the scammer convinced her that her accounts had been hacked, instructed her to withdraw cash from her credit union and purchase Lowes gift cards, then obtained the card numbers by having her read them aloud. Employees at both the credit union and store warned Hoops about the scam, but the fraudster kept her on the phone and instructed her not to trust them, ultimately deceiving her into providing the gift card information needed to cash them in. The recommended defense is to hang up on unsolicited calls about account breaches and independently verify concerns
mcknightsseniorliving.com
In 2023, the FTC reported $10 billion in total consumer fraud losses (up $1 billion from 2022), with older adults losing $3.4 billion according to FBI data, driven primarily by imposter scams, investment fraud (up 400% since 2021), and tech support scams despite scam types remaining largely consistent with previous years. The Senate Special Committee on Aging released its ninth annual fraud book highlighting that common scams targeting seniors include imposter, sweepstakes, lottery, cryptocurrency, and AI-enabled schemes, with tech support scams causing nearly $590 million in losses and investment scams topping $1.2 billion. Between June
miltontimes.com
Investment fraud losses exceeded $4.5 billion in 2023, according to the FBI's Internet Crime Report. Common scams include cryptocurrency schemes promoted via social media, dubious investment programs claiming "proven" get-rich strategies, fraudulent real estate development offerings, and precious metals sales using pressure tactics and false guarantees. Protection measures include verifying that investment professionals are registered with FINRA, avoiding pressure to make quick decisions, being skeptical of "risk-free" claims, and researching companies online before investing.
courierpostonline.com
Martins Inalegwu and Steincy Mathieu, a Burlington County couple, were sentenced to prison (80 months and 16 months respectively) for operating a romance scam that defrauded over 100 victims of approximately $4.5 million between 2016 and 2020. The scammers posed as romantic interests on dating websites, targeting vulnerable older adults and others, with one victim—a tourism board finance director—embezzling $2.8 million from her employer to send to the couple. Both defendants were ordered to pay millions in restitution and unpaid taxes.
helsinkitimes.fi
Financial scams in Finland increased significantly in the first half of 2024, with losses totaling 27.5 million euros—nearly 8 million more than the same period in 2023. Phishing scams caused the largest losses at 11.7 million euros, while investment scams more than doubled to 10.9 million euros, though banks managed to block an additional 18.2 million euros in fraudulent transactions. Experts advise caution against scams using urgency tactics and impersonation of officials, and recommend being skeptical of offers that sound too good to be true.
lawyer-monthly.com
Diane Field, 74, filed a financial elder abuse and fraud lawsuit against reality TV star Vicki Gunvalson and business partner Ali Hashemian, alleging they used deceptive sales tactics to convince her to purchase life insurance and make investments that cost her hundreds of thousands more than expected and underperformed. Field, who had a $6 million estate to manage following her husband's injury, claimed Gunvalson and Hashemian promised safe, conservative investments and tax benefits but instead tied up her money in annuities and policies she felt were unsuitable for her age and financial situation. The lawsuit, filed in May at Orange County Superior Court, seeks unspecified damages for financial elder abuse.