Category Protection

In 2025, scams and fraud schemes have rapidly increased, especially targeting older Americans and those struggling financially. Many of these scams involve criminals pretending to be trusted organizations like the IRS in the U.S. or the Financial Conduct Authority (FCA) in the UK. They often trick victims by sending urgent messages claiming things like tax refunds or help recovering money lost in crypto scams. These messages may look official to pressure people into giving away personal information or transferring money. With more advanced phishing tactics, scammers are getting better at fooling even careful individuals, making it more important than ever to stay alert and double-check any unexpected messages or requests for money.

A recent scam warning from Brevard County Sheriff Wayne Ivey highlights a growing trend of fake text messages that pretend to come from banks. These messages often mention recent purchases and ask the receiver to click a link or respond to verify suspicious activity. However, the goal is to trick people into giving away personal or financial information. This type of fraud, known as "smishing" (SMS phishing), is becoming more common as more people manage their money through mobile apps. With the economy facing issues like inflation and rising interest rates, many people are paying closer attention to their finances—something scammers are trying to take advantage of. Officials urge everyone to be cautious, avoid clicking on links in suspicious texts, and contact their bank directly if they receive one.

In 2025, the rapid rise of artificial intelligence is helping the economy grow, but it's also leading to a big increase in financial scams. Experts warn that criminals are using AI tools—especially deepfakes—to trick people and businesses more easily than ever before. Deepfakes are fake videos or audio clips that look and sound very real, allowing scammers to pretend to be trusted people like company CEOs or even family members. Billionaire investor Jim Chanos says fraud now is reaching extreme levels, even worse than during the COVID-19 pandemic. As tech companies keep pouring money into AI, consumers and banks need to stay alert to these new, high-tech threats.

Experian, a major credit reporting company, recently won the 2025 Impact Award for its new fraud protection tool called First-Party Fraud Scores. This system uses artificial intelligence and scans both credit and non-credit data to spot signs of fraud in real time. It works across different banks and financial institutions, making it easier to catch suspicious activity before it causes harm. With scams like romance fraud and fake COVID loan schemes on the rise, especially during tough economic times, this tool helps protect everyday people and small businesses from losing money. This innovation is especially important now, as more financial services move online and scammers get smarter.

Impersonation scams are on the rise, with the Financial Conduct Authority (FCA) warning the public after nearly 5,000 cases were reported in just the first half of 2025. In these scams, criminals pretend to be FCA employees, often telling victims they’ve recovered lost crypto funds or demanding payments for fake legal issues. The FCA made it clear that they will never ask people to send them money. Older adults are especially targeted, but anyone can fall victim. One common scam, known as “pig butchering,” involves scammers slowly gaining a person’s trust before tricking them into sending money. As these scams become more advanced, experts are pushing for stronger fraud protection to keep people safe—especially in uncertain economic times.

In 2025, there has been a sharp rise in scams involving people pretending to be financial regulators, especially the Financial Conduct Authority (FCA) in the UK. Scammers are tricking victims by claiming they’ve recovered money from fake cryptocurrency accounts or past loan frauds. These scams often sound convincing, especially during times of economic stress, when people are more likely to seek financial help. Older adults have been the main targets, with almost two-thirds of victims aged 56 or older. The FCA reported over 4,000 cases in just the first half of the year, with hundreds of people actually sending money to the fraudsters. This trend shows the importance of being cautious and double-checking any unexpected messages that seem too good to be true.