US EditionFBI Warns Seniors About ‘Devastating’ Cyber Scam that Wipes Out Life Savings
The FBI reports that over $1 billion has been lost to this AI-driven scam since 2024, with recovery chances under 15%, urging families to educate seniors on these threats.
- On June 12, 2025, Jessica Fraser in South Porcupine lost $10,000 to an e-transfer scam after a caller posing as her bank’s fraud department convinced her to increase her transfer limit.
- The scam involved the fraudster connecting Fraser to TD EasyLine, raising her daily transfer limit to $10,000, and directing her to send money to herself labeled as the fraud department with the password Canada.
- Fraser reported the fraud promptly, but TD Bank did not freeze or reverse the funds immediately, which were eventually deposited into a Quebec TD account, prompting Fraser to seek accountability from the bank.
- By mid-2025, the Canadian Anti-Fraud Centre had documented 17,094 individuals affected by fraud, resulting in losses totaling $342 million. Meanwhile, the FBI has alerted that a related scam victimizing older Americans, known as the Phantom Hacker Scam, has caused over $1 billion in losses since 2024.
- Experts advise victims to report fraud to their financial institution, police, and the Canadian Anti-Fraud Centre immediately to improve recovery chances and caution against sharing authentication codes.
13 Articles
13 Articles
FBI Issues Warning Against 'DEVESTATING' Cyber Scam Emptying Bank Accounts
The FBI is warning that a new AI-assisted scam has become "devastating" for elderly Americans, with bank and savings accounts being drained. The sophisticated multi-part scam is often used to go after retirement accounts and savings held by senior citizens.
FBI Issues Urgent Warning on Phantom Hacker Scams Targeting America’s Seniors
(Substack)—The Federal Bureau of Investigation has once again put the spotlight on a ruthless scam that’s stripping elderly Americans of their retirement nest eggs, with losses exceeding $1 billion since 2024 alone. Known as the “Phantom Hacker” scheme, this multi-stage fraud preys on seniors’ trust and vulnerability, often leaving victims with empty bank accounts and shattered financial security. As families across the nation grapple with risin…
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