Category Protection

In 2025, financial scams have become more advanced and dangerous, largely due to economic stress and new AI technology. With rising inflation, job losses, and uncertainty about the future, many people are feeling more anxious about their money. Scammers are taking advantage of that fear by using tools like deepfake videos, fake voices, and personalized phishing messages to trick people. Even strong security systems aren't always safe anymore, as criminals use one-time password (OTP) scams to hack into accounts by stealing or faking authentication codes. As fraud becomes harder to spot, it’s more important than ever to be cautious with your personal and financial information.

A 19-year-old from London has been arrested for allegedly playing a key role in a massive cyber extortion operation connected to the hacking group "Scattered Spider." Authorities say the teen, Thalha Jubair, used trickery—known as social engineering—to fool help desk workers at major companies into giving him access to secure systems. Once inside, the hackers would lock up important data and then demand huge ransoms, mostly in Bitcoin, threatening to delete or leak the data if the companies didn’t pay. The FBI reports that more than $115 million was paid by victims, which included large U.S. businesses and financial institutions. One company reportedly paid over $36 million. This case shows how serious and damaging cybercrime has become, especially for major industries and government systems.

In 2025, scammers have become more advanced by using artificial intelligence (AI) and cryptocurrency to trick people out of their money. One of the most dangerous tactics involves "deepfakes," where criminals use AI to create fake voices or videos that sound and look like someone you know—like a family member or your boss—asking you for money or sensitive information. These scams are so convincing that people in the U.S. lost over $200 million in just the first three months of the year. With rising prices and political tension making people more anxious, it's easier for scammers to get away with these tricks. Cryptocurrencies, which are hard to trace, make it even harder for victims to recover their stolen money.

As the world becomes more digital and uncertain, financial fraud is on the rise. Cybercriminals and scammers are taking advantage of people's fears and confusion during tough economic times by promising “free money” or pretending to be government agencies. In the U.S., cases like the recent sentencing of workers from the Florida Prepaid College Program for fraud show how serious the problem has become. These scams range from identity theft to illegal use of government benefits. Globally, places with weak governments and high poverty, like South Sudan, face even greater challenges as corruption and fraud make life harder for everyday people. The increase in these crimes shows how important it is to stay alert, protect your personal information, and never trust offers that seem too good to be true.

Scams like the one experienced by 99-year-old Julia Provance are becoming more common, especially among older Americans. These scams often involve criminals pretending to represent trusted companies, like Publishers Clearing House, and offering fake prizes to trick people into sending money or sharing personal information. In Julia’s case, the scammers asked for $1,000 in “delivery fees” to claim a fake prize. Fortunately, Julia stayed alert and didn’t fall for the trap. Her story is a reminder of how important it is to be cautious with unexpected calls or offers, especially when money or personal details are involved. Always double-check before giving out any information—if something sounds too good to be true, it probably is.

Swift, the international messaging system used by banks to send money across borders, is using artificial intelligence (AI) to fight a growing problem: online payment fraud. In a new project with 13 major banks, Swift tested powerful AI tools that help banks around the world share information about suspicious activity without giving away private customer data. This was done using a method called federated learning, which lets computers learn from data stored locally at each bank instead of sending it to one central place. The tests used fake transaction data to train the system and showed that the AI could catch fraud twice as well as older methods. As global financial crime becomes more advanced, Swift’s work may help protect people and businesses from scams.