Category Protection

A new scam called the “Phantom Hacker Scam” is costing older Americans millions, stealing over $1 billion from retirement accounts. This high-tech scam uses artificial intelligence (AI) to make fake emails and messages seem more real and personal. Scammers study victims’ interests through social media and send them tempting offers, like rare cars or collectibles. Once someone replies, fake tech support agents trick them into giving remote access to their computers. Then, pretending to be from the victim’s bank, the scammers convince them to transfer money—thinking it’s to protect their funds. The FBI has issued warnings, especially as many retirees may not spot these highly convincing tricks.

In the first half of 2025, Australians lost an alarming $175 million to scams, even though fewer people actually reported being scammed. This shows that modern scams are becoming harder to spot and more damaging. Criminals are using tools like fake websites, social media ads, and online messages to trick people into handing over their money. These scams are not just an Australian problem—they are happening all around the world, especially in places like the United States. As a result, Australia’s National Anti-Scam Centre is working with both government and private companies during Scams Awareness Week to help people protect themselves from these high-tech scams.

More women today, especially Millennials and Gen Z, are entering marriage with strong financial independence—and they’re not afraid to protect it. Many are business owners, doctors, and real estate investors, and women are now earning higher degrees and buying homes at greater rates than men. With the massive “Great Wealth Transfer”—an estimated $80 trillion in assets being passed down from Baby Boomer parents—more women stand to inherit significant wealth. As a result, prenuptial agreements are becoming a smart, proactive choice rather than a taboo. Still, marriage laws often haven’t caught up with these changes, and talking about money before marriage is sometimes seen as unromantic. But for many modern women, securing their financial future is just common sense.

In 2025, colleges across the U.S. are seeing a rise in fake students, known as "ghost students," created by fraud rings using artificial intelligence (AI). These groups use stolen or made-up identities to apply for college and receive financial aid money. They often strike when staff is limited—like on weekends and holidays—making it easier to slip past admission checks. Once accepted, they may even use AI tools to complete assignments to avoid being caught. This scam takes advantage of growing technology like generative AI and puts pressure on already strained financial aid systems.

In recent months, there has been a big rise in online investment scams that use deepfake technology to trick people. Scammers are creating fake videos that look and sound like real business leaders, financial experts, or even politicians. These deepfake videos often appear on social media platforms like Facebook and Instagram, promising easy ways to make money or get expert financial advice. When people click on these ads, they may be directed to fake investment websites or added to misleading WhatsApp groups, where the goal is to steal their money or personal information. Experts say the scams are becoming more convincing because artificial intelligence has made it easier to create realistic fake content. With today's economic instability, more people are falling for these tricks, so it's important to stay alert and fact-check investment offers before trusting them.

Impersonation fraud is becoming a serious problem in 2025, especially as people deal with economic stress and political uncertainty. Scammers pretend to be trusted figures like government officials, police officers, or bank workers to trick people into giving up money or personal information. These scams often come through phone calls, emails, or text messages and can seem very real. Many times, the scammers use fear—like claiming you owe money or will be arrested—to pressure victims into acting quickly. Older adults are especially targeted because they may be less aware of these tricks. The Federal Trade Commission warns that this type of fraud has grown a lot, especially in recent years, because scammers are using real events like government payments or data breaches to make their lies seem believable.