Category Protection

Digital payment scams are rising fast across the United States, especially as more people use instant money apps like Zelle and Venmo. In 2024, Americans lost over $12.5 billion to scams—a 25% jump from the year before. Many scammers take advantage of economic stress by pretending to be trusted companies or even family members, tricking people into sending money without realizing it's a scam. Older adults are a prime target, with some losing huge amounts after hearing fake phone calls or messages that sound like loved ones—sometimes created using advanced “deepfake” technology. Experts warn everyone to double-check before sending money and to be cautious with unexpected messages.

In August 2025, the Federal Trade Commission (FTC) announced it is sending out over $743,000 to victims of a large student loan forgiveness scam. The scam was run by companies like BCO Consulting Services Inc. and SLA Consulting Services Inc., along with their owners. They tricked people into thinking they were working with the U.S. Department of Education and promised to forgive student loan debt. Victims paid hundreds or even thousands of dollars, thinking it would go toward their loans, but the scammers just kept the money. This refund effort comes at a time when many Americans are still dealing with inflation, paused student loan relief programs, and other financial pressures.

A new report reveals that scams are becoming a serious problem in the UK, with 4 in 10 people never getting their money back after being tricked. On average, victims lose about £765, and men are losing nearly twice as much as women. Many victims—16%—lost between £250 and £500, while 10% lost even more. Only about a third of people are able to recover any lost money, highlighting major gaps in fraud protection. Experts say scammers are using more advanced tactics and taking advantage of people’s trust in familiar companies and payment systems. As living costs rise, people may be more vulnerable, making better scam protection more important than ever.

Elder fraud is becoming a serious problem in the United States, with Americans over age 60 losing nearly $4.88 billion to scams in recent years, according to the FBI. Scammers often take advantage of older adults’ trust, loneliness, or financial concerns. One example is a 73-year-old woman who was tricked into sending $8,000 in Apple gift cards to someone pretending to be a tech billionaire. Many of these scams start online or over the phone, and they can quickly drain a person’s life savings. Families should talk openly about fraud and teach their loved ones how to spot fake stories or suspicious requests for money.

A new scam called the "gold bar scam" is targeting people in the Pacific Northwest, and it's costing victims hundreds of thousands of dollars. Scammers pretend to be from trusted sources like banks or government agencies and warn their targets that their bank accounts are in danger. They then convince people to turn their money into gold or silver, claiming it will be safer. Once the victims buy the precious metals, they're told to hand them over to a so-called "courier"—who is actually part of the scam. After that, both the courier and the money disappear. Law enforcement officials say these scams are becoming more common because they take advantage of people’s fears about the economy and financial safety.

On August 1, 2025, the Federal Trade Commission (FTC) announced it had shut down a major debt relief scam that stole over $100 million from struggling Americans. The scammers pretended to be real debt relief companies, tricking people into paying big fees for services that didn’t actually exist or failed to help. Many victims were already in financial trouble, and this scam made their situations even worse. The FTC used its new Impersonation Rule to stop the fraud, showing that officials are taking stronger action against rising scams. As inflation and debt levels continue to climb, more people are looking for help—and scammers are taking advantage of that desperation.