Category Protection

Romance scams are quickly becoming one of the fastest-growing forms of online fraud, with people losing over £100 million in the UK alone last year. These scams happen when someone pretends to be in a romantic relationship—usually online—just to trick victims into sending them money. Most of these scams start on social media or dating websites, making them hard to spot at first. The UK’s Financial Conduct Authority (FCA) is now urging banks and payment companies to improve how they detect and prevent these frauds. With rising economic stress around the world, including inflation and other financial worries, people may be more emotionally and financially vulnerable, which makes stopping these scams even more important.

Auto loan fraud is becoming a big problem in the U.S., especially due to something called synthetic identity fraud. This type of fraud happens when criminals mix real and fake information to create a new, made-up identity. They use this fake identity to get approved for large car loans and then disappear without paying them back. A recent study by TransUnion found that, even though this kind of fraud happens less often than with credit cards or personal loans, it causes much bigger losses—averaging nearly $20,000 per case. In some cases involving people with top credit scores ("super prime" borrowers), the losses can go over $50,000. As car prices and loan amounts rise, it's becoming easier for fraudsters to take advantage of lenders with these fake identities.

On October 15, 2025, the U.S. government took strong action against scam networks based in Southeast Asia that have stolen billions from Americans. The Trump administration, working with the United Kingdom, placed sanctions on more than 100 companies and individuals linked to two major criminal groups: the Prince Holding Group in Cambodia and the Huione Group. These groups ran sophisticated online investment scams that tricked people into sending money, resulting in $16 billion in total losses to American victims. In 2024 alone, Americans lost $10 billion to scams connected to the region—a sharp 66% rise from the year before. These new sanctions are part of a larger effort to crack down on international fraud and protect U.S. citizens from financial crime.

On October 14, 2025, the U.S. and U.K. governments took major action against large cyber scam operations based in Southeast Asia. They placed sanctions on the Prince Group, a criminal organization run by Cambodian businessman Chen Zhi, and cut off the Huione Group from the U.S. financial system. Huione was reportedly helping cybercriminals move billions of dollars through money laundering. These steps come as part of a global effort to stop online fraud, which has grown rapidly in recent years, especially with the rise in digital activity during tough economic times. In 2023 alone, Americans lost over $16 billion to online investment scams—many tied to these Southeast Asian networks.

As New York rolls out one-time inflation refund checks to help people deal with rising living costs, scammers are taking advantage of the situation. These criminals are pretending to be from the New York State Tax Department and are contacting people through phone calls, emails, and text messages. They often claim that you need to verify your identity or pay a fee to get your refund faster. In reality, the state sends these checks automatically based on your 2023 tax return, and they will never ask for personal information this way. State officials are warning residents to be careful and not to fall for these scams.

Scammers in New York are targeting people with fake "Inflation Refund" text messages that pretend to come from the state’s Department of Taxation and Finance. These messages claim that you're eligible for a government refund to help with the high cost of living. They include a link asking you to provide personal or banking information to claim your money. The messages even use official-sounding language and threats—like saying you’ll lose the refund if you don’t act fast—to trick you into responding quickly. This scam is especially dangerous because it looks real and takes advantage of people’s financial stress during tough economic times. Officials warn never to click links or give out info unless you’re sure it’s a trusted source.