Category Protection

Romance scams have become a growing problem in the United States, causing billions of dollars in losses every year, especially among retirees and older adults. Victims are often approached through social media sites, dating apps, or even email, and scammers pretend to build genuine relationships before asking for money. Many seniors live on fixed incomes and have limited savings, making each loss especially devastating. In 2022 alone, about 70,000 Americans lost a combined total of $1.3 billion to these scams. Because victims feel embarrassed or ashamed, many cases go unreported, complicating investigations and recovery efforts. Experts warn that awareness and education about this kind of fraud are essential to help older adults protect themselves financially and emotionally.

Since the pandemic's start, fraud related to COVID relief programs has significantly risen, causing millions of dollars in losses and prompting government crackdowns. Scammers take advantage by submitting false claims to programs like the Paycheck Protection Program (PPP), which was designed to help small businesses pay their workers during hard times. Recently, three people in Miami faced charges for allegedly stealing $6.5 million through over 165 fake PPP loan applications. They reportedly lied about employees and expenses to gain approval, then kept the funds for personal use instead of helping businesses. Cases like these highlight ongoing weaknesses in emergency assistance systems, revealing how fraud can harm honest businesses and disrupt economic recovery.

As of May 2025, the FBI has raised alarms over a growing trend of AI-enabled scams targeting American citizens. Cybercriminals using artificial intelligence can now convincingly imitate senior government officials through realistic voice and text messages. These scams deceive individuals into clicking malicious links or revealing private information such as passwords or Social Security numbers. The increase in these sophisticated attacks is partly driven by current economic stressors, making people more likely to respond to official-seeming messages. Authorities stress the importance of verifying identities before sharing personal details and advise staying alert to protect oneself from cyber threats.

Online fraud has grown dramatically in recent years, with Americans losing more than $16 billion last year alone, according to a report by the Consumer Federation of America. A major reason for this surge is the use of artificial intelligence (AI), which scammers increasingly leverage to create realistic phishing emails, convincing fake identities, and more persuasive tech support scams. Vulnerable groups, such as seniors, have been particularly affected, accounting for almost $5 billion of these losses. Experts believe that these statistics underestimate the true scale of the problem since many incidents aren't reported. The sharp rise in AI-enabled scams highlights an urgent need for increased awareness, stronger online safety practices, and stricter regulations around AI tools.

Amid growing concerns over economic uncertainty in 2025 resulting from shifting government policies under President Trump, many Americans are reconsidering their plans for retirement savings and personal finance. Experts suggest preparing for potential instability in Social Security, international trade tensions, and indicators of stagflation—a situation where prices rise while economic growth slows down. This has led advisors to urge individuals to build up emergency funds, minimize debt, and closely review their financial strategies. By controlling spending, securing strong savings and insurance plans, and being cautious with investments, families can help protect themselves from financial setbacks during challenging economic times.

The Better Business Bureau (BBB) recently warned college students and their families about a growing number of scams aimed specifically at academic communities. Sophisticated phishing scams are especially concerning, as scammers pretend to be from a university's "Financial Department," using emails that look official to trick students into providing personal financial details. These scams increase as students deal with financial aid, scholarships, and tuition payments, taking advantage of their stress and busy schedules. Experts say it's important for students to double-check messages related to money, always confirm the source before sharing sensitive information, and talk with their school if they're unsure about any financial communications they receive.