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fedweek.com
**Summary:**
In 2023, the FBI reported an 11 percent overall increase in fraud complaints, with a 14 percent surge in scams targeting adults 60 and older, who lost $3.4 billion of the $12.5 billion in total reported losses. Tech support fraud was the leading crime affecting seniors with nearly 18,000 complaints and $600 million in losses, while investment scams proved costliest at over $1.2 billion, and call center schemes disproportionately impacted older adults who lost almost $770 million—more than all other age groups combined, with some victims reportedly taking their own lives. The FBI recommends resisting pressure to
chinadaily.com.cn
Telecom fraud in China disproportionately affects younger people, with those aged 18-40 comprising 62.1 percent of victims and the average victim age just 37 years old. The ten most common fraud schemes—including click-farm jobs, false investments, and counterfeit shopping—account for 88.4 percent of cases, with authorities resolving approximately 543,000 cases and intercepting 452 billion yuan ($62.3 billion) in fraudulent funds from the start of last year through May of the current year. The Ministry of Public Security advises citizens to verify investment opportunities through official channels, avoid unsolicited offers, and report suspicious activity to
indiatoday.in
WhatsApp has become a platform for investment scams in India, with victims losing lakhs of rupees to fraudulent schemes. Scammers use a multi-step method: contacting users with fake job or investment offers, adding them to groups posing as legitimate financial firms, directing them to fake websites showing false profits, and then blocking account access while demanding additional payments for withdrawals. Notable cases include a 60-year-old retired Mumbai resident who lost Rs 2.56 crore and a 35-year-old Coimbatore bank manager who lost Rs 48.57 lakhs.
county17.com
Two men conducted quick change scams at two Dollar General locations in Gillette, Wyoming on June 25, targeting young cashiers by distracting them during transactions to obtain excessive change. The suspects stole approximately $230 from each store (totaling $460) through coordinated scams that appeared to be well-practiced, with police describing both men as Black males in their early to mid-30s and actively investigating the incidents.
fox23.com
A romance scam targeting seniors is currently widespread, in which scammers build fake romantic relationships to convince victims to invest in fraudulent cryptocurrency schemes. According to cybersecurity expert Zulfikar Ramzan, crimes targeting elders have increased 11% in the last year, resulting in $3.4 billion in losses with an average loss of $34,000 per victim. Ramzan advises seniors to verify anyone met online through video calls, conduct background research, and be wary when asked about investments, as scammers typically start with small requests that escalate to stealing entire life savings through fake investment statements.
heraldnews.com
Elder fraud in the New England region resulted in $89.6 million in reported losses across Maine, Massachusetts, New Hampshire, and Rhode Island in 2023, with Massachusetts accounting for $63.7 million of that total, though the FBI estimates actual losses are significantly higher due to underreporting. The FBI-Boston reports a double-digit increase in financial fraud targeting adults over 60, with investment scams showing the sharpest growth (victimization up 209% and losses up 419% from 2021-2023), largely driven by cryptocurrency schemes, alongside common scams including tech support, romance, and government impersonation fraud. The FBI recommends elderly individuals and their families be
bostonglobe.com
Fraud targeting people aged 60 and older increased 11 percent nationwide last year, resulting in $3.4 billion in total losses, with Massachusetts accounting for $63.6 million across 1,610 reported victims. Common schemes include tech support scams, romance scams, investment fraud, and government impersonation, with the average victim losing nearly $34,000; the FBI warns that actual numbers may be higher since only half of complaints include victim ages, and scammers are increasingly employing artificial intelligence tactics.
hampshirereview.com
A U.S. Navy veteran and federal employee from Charles Town lost nearly $2 million after befriending Sam Bunner at a local American Legion; Bunner, recognizing the veteran's cognitive decline, obtained power of attorney and systematically emptied his bank and investment accounts and sold his real estate, resulting in Bunner's 10-year federal prison sentence. The article highlights common elder fraud schemes in West Virginia, including caretaker theft, romance and tech support scams, government impersonation, and family member exploitation, while recommending protective measures such as resisting urgency, avoiding online money transfers, limiting power of attorney authority, and securing valuables for in-home care situations.
telegram.com
Elder fraud losses in the FBI-Boston Division reached $89.6 million across 2,689 victims in 2023, with Massachusetts accounting for $63.7 million of those losses, and financial fraud targeting adults over 60 increasing by double digits. The most common scams include tech support, romance, investment, and government impersonation schemes, with investment scams showing the sharpest growth (419% increase in losses from 2021-2023, largely driven by cryptocurrency fraud). The FBI emphasizes that actual losses are likely higher due to underreporting and recommends that seniors avoid unsolicited contacts, resist pressure to act quickly, never share personal information with un
goldendalesentinel.com
Americans age 60 and older lost more than $3 billion to scammers in 2023, with the FBI reporting a 14% increase in complaints and an 11% rise in financial losses compared to 2022. Older adults face heightened vulnerability due to factors including greater trust, financial assets, and lower comfort with technology, with tech-support scams being the most commonly reported fraud type and investment scams causing the largest financial losses. Beyond monetary damage, elder fraud causes significant psychological harm including shame, trauma, and erosion of trust, making prevention education critical to combating what experts characterize as an epidemic.
justice.gov
Casey Alexander, a 27-year-old from London, was sentenced to three years probation and ordered to pay $202,195.58 in restitution for his role in a wine and whiskey investment scam targeting elderly Americans. The scheme used cold-calling and deceptive tactics to convince older investors to wire funds for supposed fine wine and whiskey portfolios held in European warehouses, with victims then pressured to make additional investments. The FBI investigation identified over 150 U.S. victims who collectively lost more than $13 million in the fraud.
mcall.com
Elder fraud costs Americans over $37 billion annually, with common schemes including contractor fraud, sweepstakes scams, and romance/grandparent impersonation cons. Deputy prosecutor Paul Greenwood, who handled more than 750 elder abuse felony cases in San Diego, highlighted that criminals are becoming increasingly sophisticated—using AI-assisted text conversations and spoofed caller IDs—while noting that jobless adult children and unvetted caregivers represent the most typical perpetrators. Greenwood recommended 20 protective measures including using bonded caregivers, freezing credit, checking credit reports regularly, and letting unknown calls go to voicemail, while cautioning against romance sc
thedailynewsonline.com
New York State Attorney General Letitia James issued guidance on avoiding online "romance scams" (also called "pig butchering"), which use dating apps, social media, and text messages to build trust with victims before directing them to fraudulent investment schemes. Scammers typically spend considerable time building relationships, then move conversations to encrypted platforms and lure victims into cryptocurrency or foreign currency investments, resulting in losses ranging from thousands to over a million dollars. The advisory recommends New Yorkers avoid wiring money or sending cryptocurrency to unknown individuals, verify sender identities, and report suspected scams to law enforcement.
thedailynewsonline.com
New York State Attorney General Letitia James warns that online "romance scams" (also called "pig butchering") are increasingly common, with fraudsters using dating apps, social media, and text messages to build trust with victims before directing them toward fraudulent investments in cryptocurrency or foreign currencies. The scammers spend substantial time cultivating relationships and using fake credentials, screenshots of inflated account balances, and fabricated luxury lifestyle photos to appear as successful investment experts, eventually cutting off contact after victims deposit tens of thousands to over a million dollars. James advises New Yorkers to avoid wiring money or sending cryptocurrency to unknown individuals, research senders' information, be suspicious of online romantic interests, an
otdowntown.com
Nelson Counne stole $1.8 million from at least five women using romance scam tactics between 2012 and his 2024 conviction, posing as a wealthy art dealer named "Nelson Roth" or "Justin Roth" and promising investment opportunities and financial support that never materialized. After pleading guilty to Grand Larceny in the Second Degree and Scheme to Defraud in the First Degree, he was sentenced to up to eight years in prison, with prosecutors noting he used the stolen money to repay victims who detected fraud while recruiting new victims. The scammer had no actual wealth, properties, or passport—only an "expertly craf
aol.com
"Pig butchering" is a rapidly growing romance scam where fraudsters pose as romantic partners and lure victims into fake cryptocurrency investments, with the scammer gradually building trust through small initial returns before requesting large sums of money. In Alabama alone, 88 victims lost more than $22 million to this scheme, with individual losses ranging from thousands to tens of thousands of dollars, exploiting victims' emotional vulnerability and the lack of regulation in the crypto market.
ghanaweb.com
Hajia4Reall's ex-partner, Luvman Allison, allegedly used her bank accounts to receive and transfer fraudulent funds while on probation, misleading her into believing they were in a genuine relationship. Hajia4Reall stated in court documents that she continued facilitating these transactions out of fear for her safety and her daughter's wellbeing, despite knowing the activities were wrong. The case involves allegations of romance scams, though Allison's supporters claim his legal troubles were related to drug offenses rather than fraud.
m.imdb.com
The provided article does not contain sufficient substantive information about an actual scam. While the headline suggests that Golden Bachelor contestant Faith Martin shared details about falling for an online scam on social media, the article body only contains background information about her appearance on the show and Gerry Turner's failed marriage, with the actual scam details cut off or missing from the text provided.
indiatoday.in
A businessman from Cherthala, Kerala, lost Rs 7.55 crores over two months in an online investment scam where fraudsters impersonating Invesco Capital and Goldman Sachs representatives promised high returns on share trading and then froze his account, demanding additional funds to unfreeze it. Police are investigating the case and have warned the public to verify investment firm credentials, be skeptical of unusually high returns, use only regulated platforms, and report suspected scams immediately to authorities.
jdsupra.com
On June 14, 2024, President Biden declared June 15th World Elder Abuse Awareness Day, prompting FinCEN to remind financial institutions to identify and report elder financial exploitation (EFE). Between June 2022 and June 2023, approximately $27 billion in EFE-related suspicious activity was reported through Bank Secrecy Act filings, with the FBI's 2023 data showing that individuals aged 60 and over reported over $3.4 billion in fraud losses (averaging $34,000 per victim), with tech support scams being the most commonly reported type and investment scams causing the greatest financial harm. Financial institutions are expecte
siliconeer.com
In 2023, Americans aged 60 and older lost $3.4 billion to fraud, with California accounting for over $620 million across 11,000+ reports, and monolingual Chinese seniors in the Bay Area facing particularly high risk. Common scams targeting elders include investment fraud (especially cryptocurrency), tech support scams, romance scams, and impersonation schemes (often posing as government officials), with typical victims losing over $33,000. Experts recommend immediate reporting to financial institutions and law enforcement (FBI at 1-800-CALLFBI), noting that shame, language barriers, and fear of retaliation prevent many victims—particularly Asian Americans—from coming forwar
manhattanda.org
Nelson Counne, 71, was sentenced to 4-to-8 years in prison after pleading guilty to stealing more than $1.8 million from at least five women through romance and investment scams between 2012 and 2021. Using fake identities and posing as a wealthy retired art dealer, Counne met victims through online dating apps, gained their trust, and persuaded them to invest in fraudulent opportunities (including purported Alibaba and tech startup deals), then used their money to appear wealthy to new victims and repay those who grew suspicious. The Manhattan District Attorney emphasizes that romance scams remain a persistent threat and urges potential victims to report such crimes.
justice.gov
Adedayo John, a 35-year-old from Texas, was sentenced to seven years in prison for leading a money laundering and bank fraud ring that stole over $19 million from more than 50 victims through business email compromise and romance fraud schemes targeting elderly individuals. John directed conspirators to open fraudulent bank accounts, approximately $4.5 million in proceeds passed through accounts he controlled, and he was ordered to forfeit over $4.5 million and pay nearly $1.6 million in restitution. In total, 11 defendants pleaded guilty in the scheme, which collectively resulted in over $25 million in forfeitures and $8
elpasoinc.com
An 87-year-old El Paso resident lost approximately $10,000 after falling victim to a tech support scam impersonating Microsoft, during which scammers convinced her she had fraudulent Amazon charges and obtained her personal financial information. El Paso experienced 93 elder fraud reports totaling $6.2 million in losses this year, with the FBI noting that common schemes include investment scams, tech support scams, government impersonation, and romance scams—many originating from organized crime rings in Eastern Europe and Africa. The FBI reports that nationwide, seniors over 60 filed 101,068 fraud complaints in 2023 resulting in $3.
consumerfinancemonitor.com
On June 14, 2024, President Biden declared June 15th World Elder Abuse Awareness Day, prompting FinCEN to remind financial institutions to vigilantly identify and report elder financial exploitation. FinCEN's analysis of 155,415 suspicious activity reports revealed approximately $27 billion in EFE-related suspicious activity between June 2022 and June 2023, while the FBI's 2023 Elder Fraud Report documented over $3.4 billion in losses affecting more than 101,000 victims aged 60 and over, with tech support scams being most prevalent and investment scams causing the greatest financial harm. FinCEN and the
audacy.com
In 2023, elder fraud complaints increased 14% with total losses exceeding $3.4 billion, averaging $33,915 per victim, with tech support and investment scams identified as major threats causing over $1.2 billion in losses. Authorities recommend verifying identities during emergencies and using trusted contacts for financial accounts, while suspected victims should report incidents to the FBI or submit complaints online.
pennwatch.org
The Pennsylvania Department of Banking and Securities is hosting educational presentations throughout July 2024 for seniors, employees, and the general public on financial fraud prevention and investor protection. Topics include avoiding identity theft, selecting investment professionals, preventing elder financial fraud, recognizing common scams, and cybersecurity best practices, with sessions held at libraries, government offices, and community organizations across Pennsylvania.
heraldmailmedia.com
A U.S. Navy veteran in West Virginia lost nearly $2 million after his caregaker, Sam Bunner, obtained power of attorney and emptied his bank, investment, and real estate accounts; Bunner was sentenced to 10 years in federal prison. West Virginia experiences high rates of elder fraud involving both strangers (tech support scams, romance scams, government impersonation) and known individuals (caregivers, family members), targeting the state's large senior population. The U.S. Attorney's Office recommends resisting pressure to act quickly, avoiding unsolicited money transfers, limiting power of attorney authority, securing valuables during in-home care, and reporting suspected sc
yourdailyjournal.com
The Department of Insurance reports a spike in insurance fraud cases affecting all consumers through increased premiums, with particular targeting of seniors through door-to-door fake insurance sales, deceptive annuity/investment schemes, prescription fraud, and staged accident claims. The department received over 10,000 Medicare fraud complaints in 2023 involving unauthorized billing for medical supplies and duplicate charges, and provides 14 protective tips including verifying agent credentials, obtaining written estimates, protecting personal information, and reviewing explanation of benefits statements.
wvnews.com
A U.S. Navy veteran from Charles Town lost nearly $2 million to Sam Bunner, a caretaker who befriended him at the American Legion, obtained power of attorney, and systematically emptied his bank and investment accounts while selling his real estate; Bunner was sentenced to 10 years in federal prison. The article highlights that West Virginia seniors face significant risks from both caretakers and strangers perpetrating scams including tech support schemes, romance scams, government impersonation, and family member theft, with artificial intelligence making these schemes increasingly difficult to detect. Protective measures include resisting pressure to act quickly, avoiding sending money to online contacts, limiting power of attorney authority,
wng.org
The U.S. State Department released an annual report highlighting how human traffickers are exploiting encrypted messaging, digital currencies, social media, and online platforms (dating apps, gaming sites, fake job websites) to recruit and exploit victims, while a growing trend involves trafficking people for organ harvesting. Law enforcement and NGOs are countering these efforts using artificial intelligence, data analytics, and monitoring of online platforms, with recent international operations resulting in multiple arrests and seizures of trafficking infrastructure. The report notes that traffickers target not only women and girls but also children, with thousands of teenagers annually becoming victims of sextortion scams demanding money in exchange for not publicizing sexual images.
tradingview.com
A MakerDAO governance delegate lost $11 million in aEthMKR and Pendle USDe tokens on June 23 after falling victim to a phishing scam that tricked them into signing multiple permit signatures, enabling scammers to access and drain the wallet. The incident highlights the growing prevalence of "approval phishing" attacks in crypto, where victims unknowingly grant scammers permission to transfer their digital assets. Phishing scams drained $300 million from 320,000 users in 2023 alone, with some individual cases exceeding $24 million in losses.
goldrushcam.com
In June 2024, the U.S. Attorney's Office and San Diego FBI recovered over $3.3 million in a coordinated operation targeting fraud schemes against seniors, obtaining more than 40 seizure warrants for $5.6 million since January 2024. The effort highlights California's disproportionate cyber fraud problem, with the state leading the nation in both victim count (over 77,000 in 2023) and losses ($2.1 billion), and emphasizes the need for early reporting of suspected fraud to interrupt transactions before funds are transferred. Common schemes targeting elderly victims include cryptocurrency investment scams (highest losses) and tech support/government impersonation scams
sunlive.co.nz
New Zealand Police are investigating an investment scam targeting members of the Chinese community, in which scammers have defrauded victims of millions of dollars. The scheme operates through social media platforms like WeChat and Telegram, where perpetrators pose as representatives of a fake Australian investment platform, initially collecting payments via international bank transfer and then requesting in-person cash payments. Police advise the public to verify any investment opportunity's legitimacy, avoid sending money to unverified schemes, and cease contact with suspected scammers, emphasizing that legitimate investments never require cash-only payments.
newtondailynews.com
This is an opinion piece critical of the Financial Innovation and Technology for the 21st Century Act, arguing that the bill would weaken SEC oversight of cryptocurrency by shifting regulatory authority to the less-equipped Commodity Futures Trading Commission. The author cites the FBI's 2023 report documenting over $4 billion in investment scam losses and notes that 90% of stablecoin transactions are fraudulent, warning that reduced regulation would increase consumer vulnerability to crypto fraud and scams.
ca.news.yahoo.com
Consumer group Which? warns that "pig-butchering" romance scams are among the most convincing frauds seen this year, with victims losing thousands of pounds through fake investment schemes. Additional emerging threats include fake missing person appeals on social media, phishing emails impersonating PayPal, and malware-laden apps that compromise smartphone security.
abc.net.au
Harriet Spring lost $1.6 million of her elderly mother's life savings to scammers impersonating ING bank over several months of phone calls and emails, with the funds eventually transferred through multiple Australian banks and becoming untraceable. Despite her mother's bank questioning the unusual transfer to a Westpac "holding account" and confirming ING was not offering the advertised rate, the bank did not warn her of potential fraud before processing the transaction. Spring is now advocating for government action and bank accountability, as Australians lost $2.7 billion to scams in the previous year.
globalnews.ca
A Toronto man lost his life savings of $1.28 million to an alleged syndicated mortgage fraud scheme operated by Arash Missaghi and Samira Yousefi, who convinced him and his wife to invest equity from their home in supposedly secured private mortgages. Devastated by the financial loss and unable to obtain help from authorities, the man fatally shot both perpetrators and himself in a North York office building in 2024, leaving behind a note blaming them for destroying his family.
timesofindia.indiatimes.com
A Panchkula resident was defrauded of Rs 32.25 lakh in an online investment scam after responding to a Facebook advertisement and joining a WhatsApp group promising profits through US stock investments. The scammer used a fake app and demat account to lure the victim with initial small profits before requesting increasingly larger deposits, eventually threatening him when he refused to pay Rs 82 lakh more. Police registered a case against unidentified perpetrators.
studycafe.in
A 70-year-old retired financial professional from Maharashtra lost Rs. 2 crore to a stock market investment fraud orchestrated through WhatsApp, where scammers added him to a group, posed as investment experts, showed fake profits and a fraudulent mobile app, and convinced him to transfer funds across 24 transactions before requesting additional "withdrawal taxes" that triggered his suspicion. The article advises investors to avoid unsolicited investment offers via WhatsApp or social media, verify claims independently through qualified financial advisors, be wary of promises of high returns with no risk, and never transfer large sums without proper due diligence to legitimate, recognized companies listed on official stock exchanges.
zeenews.india.com
A 60-year-old retired investor from Mumbai lost Rs 2.56 crore in an online share trading scam that began in December 2023 when scammers added him to a WhatsApp group posing as representatives of an American investment company. The fraudsters used a fake website with a virtual trading account showing false profits to gradually convince the victim to invest incrementally, starting with Rs 50,000 in February, and later demanded an additional 20% investment to cover claimed stock market losses. When the victim requested a refund, his account access was blocked and the scammers became unreachable, prompting him to file a police complaint.
moneylife.in
A 70-year-old senior citizen in Mumbai lost over Rs2 crore (approximately $240,000 USD) to an online investment scam after being contacted via WhatsApp with promises of high returns in share trading; the fraudster provided app download links and bank account details for transfers, using a Ponzi scheme disguised as legitimate investment. The article explains that such cyber fraud schemes targeting seniors operate by paying early investors to build trust before disappearing when victims attempt to withdraw profits, and recommends potential investors verify that entities are registered with India's Securities and Exchange Board (SEBI) and conduct proper due diligence before investing.
timesleaderonline.com
A U.S. Navy veteran in West Virginia lost nearly $2 million when his caretaker, Sam Bunner, obtained power of attorney and emptied his bank and investment accounts; Bunner was sentenced to 10 years in federal prison. Senior citizens in West Virginia are frequently targeted by both strangers (tech support scams, romance scams, government impersonation) and trusted individuals (family members, caregivers) who exploit their longevity, savings, and trusting nature. To protect against such fraud, individuals should resist pressure to act quickly, avoid sending money to online contacts, carefully consider power of attorney arrangements, and secure valuables and financial documents from in-home caregi
weirtondailytimes.com
A U.S. Navy veteran in West Virginia lost nearly $2 million when Sam Bunner, a caretaker who befriended him at a local American Legion, obtained power of attorney and emptied his bank and investment accounts and sold his real estate. The article outlines common elder fraud threats in West Virginia—including caretaker theft, romance and tech support scams from strangers, and family member exploitation—and provides protective measures such as resisting pressure to act quickly, avoiding unsolicited online money transfers, and securing valuables and documents when in-home care is needed.
theintelligencer.net
A U.S. Navy veteran from West Virginia lost nearly $2 million when his caretaker, Sam Bunner, used a power of attorney to drain his bank and investment accounts and sell his real estate; Bunner was sentenced to 10 years in federal prison. The article highlights that seniors in West Virginia face significant vulnerability to both caregiver fraud and stranger scams (tech support, romance, and government impersonation schemes), with recent AI advances making these scams harder to detect. The U.S. Attorney's Office recommends resisting urgency, avoiding unsolicited money transfers, securing valuables, and carefully limiting power of attorney authority to protect vulnerable adults.
ask.un.org
Fraudsters frequently impersonate United Nations employees or representatives to solicit money and personal information from victims through social media, email, phone calls, and other channels. Common schemes include falsely claiming the victim has won a UN award or scholarship, or posing as a UN worker requesting financial assistance. The UN advises people to be cautious when contacted by unknown individuals requesting personal data or funds, and to verify claims through official UN channels.
wvnews.com
A U.S. Navy veteran from West Virginia lost nearly $2 million when Sam Bunner, a caretaker who befriended him at a local American Legion, obtained power of attorney and systematically emptied his bank and investment accounts and sold his real estate, exploiting the victim's declining cognitive abilities; Bunner was sentenced to 10 years in federal prison. The article notes that West Virginia seniors are particularly vulnerable to both caretaker/family fraud and stranger scams (including tech support, romance, investment, and government impersonation schemes), and recommends protective measures such as resisting urgency, avoiding online money transfers, carefully granting power of attorney, using trusts with restrictions
azbigmedia.com
The FTC reported $10 billion in fraud losses in 2023, with AARP estimates suggesting adults over 60 lose more than $28 billion annually to fraud. Older adults are targeted for their access to substantial savings, available time, and sometimes limited online safety knowledge, with common scams including gift card/refund schemes, romance scams, and cryptocurrency investment frauds. Protective measures include verifying communications, guarding personal information, remaining skeptical of unsolicited money requests, and maintaining open communication with trusted networks and caretakers.
wibw.com
Kansas passed the Protect Vulnerable Adults from Financial Exploitation Act, which requires financial advisors to report suspected fraud involving seniors or dependent adults to the Kansas Insurance Department, strengthening investigative tools to identify illegitimate actors. The law addresses a significant vulnerability, as scammers frequently target older adults for their liquid retirement assets, with only a 7% recovery rate once funds are stolen.
wmbfnews.com
The Better Business Bureau's annual Scam Tracker identifies investment scams, romance scams, and home improvement scams as the top threats to older adults, with those aged 55-64 most frequently paying scammers via credit cards, prepaid gift cards, and checks. Home improvement scams are particularly prevalent in the Grand Strand area, especially following natural disasters when fraudulent contractors pose as legitimate businesses. The report provides guidance on scam avoidance and victim resources.