Latest news with #InternetCrimeReport
Yahoo
16-05-2025
- Business
- Yahoo
This is traumatic': Houston man, 84, says he had $1.1M in property stolen. How to avoid a similar nightmare
In 2022, Houston property owner Sam Cormier received a notice asking him to pay rent. The problem? It was for a property he already owned. Cormier got in touch with the lender listed on his rent notice. That's when he got the shock of his life. It turned out ownership of that property had been transferred to a company with a $1 million loan taken out against it and seven others. All eight properties were eventually put up for auction. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Now, Cormier, 84, is fighting to reclaim the properties that were stolen from him. 'I lost my money, I'm losing my voice, I'm losing my health. It's really hard. This is traumatic,' he told KPRC 2 News. It's not so uncommon for scammers to steal people's savings. But now, owners have to worry about their properties being stolen, too. In 2023, there were 9,521 real estate fraud complaints filed, according to the FBI's Internet Crime Report. That year, losses related to real estate crimes totaled $145,243,348. Meanwhile, the Boston division of the FBI recently warned property owners about an uptick in home title theft as cases have increased across New England. In Cormier's case, he says a woman who had access to a notary was able to file new deeds in Harris County against his eight paid-off properties, which were valued at more than $1.1 million in total. According to Cormier, the woman was his former partner, and he says she was able to secure a loan against the properties because there was no mortgage attached to them. 'They liquidated all of my properties and sold it at the auction to three or four different people,' Cormier told KPRC. Cormier thinks he was targeted because of his age. The woman who is suspected of perpetuating the scheme is about 30 years younger than him. An attorney from Vestige Law in Houston explained to KPRC that it's all too easy to file a new deed on a property. It's a matter of having a notary stamp and $10 to $20 for a recording fee. Law enforcement in Houston is thankfully on the case, and charges are expected against the woman who allegedly stole Cormier's properties. There's also a civil case pending against the lender who gave out the $1 million loan against the paid-off properties. Read more: You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now One of the reasons scammers are able to get away with home title theft is that they tend to go after owners who live out of state and aren't on-site to check on their properties all the time. It's also common for them to target older homeowners as well as people who own multiple properties. Properties that have been fully paid off can also be a common target. When a home is sold with a mortgage, the lender is first in line to be repaid. When there's no mortgage, a scammer can pocket the proceeds. The good news, though, is that there are steps you can take to avoid becoming a victim of home title theft. The first step, of course, is knowing which properties are more likely to be targeted. From there, it's important to monitor property records in the county your home is in. Some counties have a title alert system you can subscribe to so you're notified of a change. You can also set up a Google alert for your property address. That may not help you catch someone trying to take out a loan against your property. But, it could alert you to the fact that someone is trying to list and sell your home to pocket the proceeds. It's also important to check up on your property and report suspicious activity. If you live out of state, you may want to hire a property manager to keep an eye out and do basic maintenance. Otherwise, you can ask family members who live in town or neighbors to serve as your lookout. Another way to potentially avoid home title theft is to put your property into a trust. During this process, the trust becomes the formal owner of the property, and you or an appointed trustee are in charge of overseeing the trust. A trust won't make it impossible for someone to steal the title to your home. But they might have to jump through hoops like forging trust documents or having to pretend to be you or whoever the designated trustee is. That might be enough of a deterrent. There are also some types of home title insurance that offer protection against home title theft. But you'll need to check the details carefully, since most title insurance doesn't safeguard against new theft — it only offers protection in the event that title fraud took place before you bought your property. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
07-05-2025
- Business
- Yahoo
Oklahoma legislation would help victims of scammers
Imagine an Oklahoma grandmother, savings in hand, rushing to a corner store's cryptocurrency ATM because a voice on the phone claims her grandson is in jail. She feeds $5,000 into the machine, believing she's saving him. Instead, she has just been robbed ― her money zapped into a scammer's digital wallet, gone forever. This is not a rare story. It's happening across Oklahoma, where criminals are turning cryptocurrency ATMs, also called digital asset or bitcoin kiosks, into tools for theft, draining millions from our communities. Criminals pose as authorities, bank officials, computer tech support or even loved ones, spinning tales of urgent crises: 'Your account has been hacked — send cash now!' or 'Pay this fine through the ATM to avoid arrest!' The individual is then directed to insert money into a cryptocurrency ATM via QR code, where the funds are immediately transferred to the criminal's digital asset wallet. More: Scammers often target seniors. Here are tips that can help you protect yourself, loved ones Thankfully, help is on the way. Senate Bill 1083 by Sen. Darrell Weaver and Rep. Mark Lepak tackles this crisis head-on. Cryptocurrency ATMs, unlike other regulated financial institutions, lack state-level fraud protections and oversight. SB 1083 adds targeted safeguards, mandating that new customers who fall victim to cryptocurrency ATM fraud may receive a refund if they report the incident within 14 days to law enforcement and the ATM operator. Additionally, it imposes daily transaction limits to mitigate the risks associated with higher transaction amounts. To further protect consumers, the bill requires posting fraud warning notices at ATMs that detail steps individuals should take if they suspect fraudulent activity. ATM operators' fees are capped, and they are required to refund fees on fraudulent transactions. Senate Bill 1083 will also authorize the Oklahoma Banking Department to oversee licensure within the state, monitor complaint activity and revoke operator licenses if they receive multiple consumer complaints. Scammers often trick vulnerable people — often elderly — into sending them thousands of dollars to resolve fake problems. A new law introduced in the Oklahoma Legislature would help recovery efforts. The numbers tell a grim story. The FBI's 2024 Internet Crime Report shows a 99 percent spike in cryptocurrency ATM-related fraud complaints nationwide, with losses up 31 percent from 2023. Older adults are prime targets, losing more than $107 million as scammers exploit their trust. In Oklahoma, these cryptocurrency-related scams including those involving ATMs cost residents $37.7 million in 2024. This data reflects only reported cases, with actual losses much higher due to unreported scams. More: Guest column: Ignoring unknown calls could save you from scammers Oklahoma's lawmakers have a choice: protect our families or let criminals exploit this loophole. Passing SB 1083 is not just a vote for stronger laws — it is a stand for our neighbors, our families, our communities. Every Oklahoman deserves protection from this digital con. Now is the time for our lawmakers to vote yes on this bill and for Gov. Stitt to sign it into law. Make your voice heard: tell lawmakers to vote yes on SB 1083 by going to Let's make Oklahoma a place where digital innovation lifts us up, not leaves us broke. Jeff Miller Jeff Miller is an AARP Oklahoma executive council member and an AARP Fraud Watch Network volunteer. This article originally appeared on Oklahoman: Helping elderly people who are scam targets | Opinion
Yahoo
06-05-2025
- Yahoo
Atlanta woman lost $8K on scam call from fake Wells Fargo employee — take these steps to keep your cash safe
Aleah McPherson's bank account is $8,265 lighter these days. Sadly, the funds disappeared after she fell for a scam by someone impersonating a Wells Fargo employee, leaving McPherson and her fiancé devastated by the loss. Don't miss "That was my savings. That was actually what I have been working for a while," McPherson told Fox 5 Atlanta last month. She hopes that her story will serve as a warning to others so that they don't fall victim to similar fraud and be left without their hard-earned money. How a phone scam led to a huge loss According to McPherson, the trouble started when she received a phone call from a 1-800 number associated with Wells Fargo to alert her to a serious problem. "Wells Fargo bank informed me there was fraudulent activity," she said. "They will call you if there's fraudulent activity on your account, so I didn't think there was anything out of the ordinary. I've had this happen before." The scammer told McPherson she'd have to transfer her money out of her account to keep it safe while an investigation was carried out. McPherson believed she'd confirmed that she was actually talking to her bank, so she followed their instructions and emptied her bank account, sending the money via Zelle and a Chase digital wallet. Although she thought moving the funds would protect them while Wells Fargo investigated the fraud, the reality is that the money disappeared into the accounts of the scammers. Adding insult to injury, she also explained that the scammers mocked her for falling for their tricks. "Once you're done talking to them, they're all laughing in the background. They are telling you that you've been scammed and laughing." Sadly, McPherson is one of many who have fallen victim to scams in which thieves pretend to be trusted organizations, including financial institutions or government agencies. These scams are called phishing or spoofing scams, and the FBI's 2024 Internet Crime Report revealed 193,407 complaints about them during the year, with victims collectively losing over $70 million.
Yahoo
02-05-2025
- Yahoo
New Mexicans lost over $70M to scams in 2024, FBI data shows
NEW MEXICO (KRQE) – Scammers stole hundreds of millions of dollars from New Mexico residents in 2024, and one scam alone accounted for one-third of the total losses, according to data compiled by the FBI's Internet Crime Complaint Center. The 2024 Internet Crime Report revealed that there were 3,884 victims in the Land of Enchantment, and nearly half of them were over the age of 60. The total combined amount New Mexicans lost to scammers last year was $76,621,670, about a $31 million increase from 2023. In-N-Out Burger eyes property in northwest Albuquerque, documents show Data from the FBI shows the top three cybercrimes in New Mexico reported by financial losses were investment fraud, which resulted in a loss of $25 million; business email compromise, which took $17 million; and personal data breach, in which bad actors took $10 million. While those three scams took the largest chunk of change from New Mexicans, the top three cybercrimes in the state, based on the number of complaints made to the FBI, were extortion, personal data breach, and phishing/spoofing. At the national level, a total of 859,532 complaints of suspected internet crime were made to the FBI's Internet Crime Complaint Center in 2024, amounting to losses exceeding $16 billion—a 33% increase in losses from 2023. The most complaints were received from California, Texas, and Florida. The most frequently reported scams across the nation included phishing/spoofing, extortion, and personal data breaches. Victims of investment fraud, specifically those involving cryptocurrency, reported the most losses, totaling more than $6.5 billion. If you or your business falls victim to an internet crime, the FBI encourages you to immediately notify all financial institutions involved in the relevant transactions, submit a complaint to contact your nearest FBI field office, and contact local law enforcement. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
02-05-2025
- Business
- Yahoo
IC3 Reports Crypto Scams Skyrocket: IC3 Reports $9.3 Billion In Losses In 2024
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. In its 2024 Internet Crime Report, the FBI's Internet Crime Complaint Center, or IC3, reported a staggering $9.3 billion in losses attributed to cryptocurrency-related scams—a 66% increase from the previous year. The number of complaints referencing cryptocurrency soared to 149,686, highlighting a continued surge in cybercrime activity within the digital asset space. This record-breaking figure is the highest ever reported in the IC3's history and underscores the growing threat of crypto fraud to individual investors across all age groups. The report shows that while digital currencies have become more mainstream, so too have the tactics employed by scammers who exploit a lack of regulatory oversight, investor knowledge gaps, and the allure of high returns. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Older Adults Most Affected The data points to a sharp generational divide in impact. Individuals aged 60 and older were the largest demographic affected, with over 33,000 complaints and losses exceeding $2.8 billion—nearly one-third of the total losses. This suggests that older adults may be more vulnerable to sophisticated online fraud schemes, particularly romance and tech support scams that often masquerade as investment opportunities. The 40–49 age group followed closely, incurring more than $1.4 billion in losses, while 50–59-year-olds lost over $1.18 billion. Even younger investors weren't spared: those in their 30s reported over $1 billion in losses, and 20–29-year-olds lost upwards of $370 million. Alarmingly, even under-20 victims reported losses, totaling $7.7 million, reflecting the broad reach of these schemes. Exponential Growth Since 2021 The trend has been intensifying since 2021, with the number of complaints and total dollar losses increasing dramatically each year. The accompanying chart in the IC3 report shows an exponential growth curve—losses more than tripled from 2021 to 2023, and the jump from 2023 to 2024 represents the largest single-year leap yet. This indicates not only the scale but the evolving sophistication of scams targeting crypto users. Trending: New to crypto? on Coinbase. Common Scam Tactics Scammers have continued to innovate their methods, combining elements of social engineering, phishing, and impersonation of legitimate platforms. Investment fraud was the most commonly reported scheme, with scammers promising high returns on fake crypto trading platforms. Many victims were also lured through social media, dating apps, or phishing emails, often manipulated into transferring funds directly into fraudulent crypto wallets. The Need for Vigilance As the popularity of cryptocurrencies continues to grow, so does the need for public awareness, education, and tighter cybersecurity protocols. IC3 urges individuals to verify the legitimacy of platforms before investing, be wary of unsolicited contact regarding investment opportunities, and report suspicious activity immediately. In response to these alarming figures, cybersecurity experts and regulatory bodies are renewing calls for stronger enforcement and broader consumer education efforts, particularly for vulnerable demographics like older adults. With crypto scams now accounting for billions in annual losses, the message is clear: in the digital gold rush, caution is not just advised—it's essential. Read Next: A must-have for all crypto enthusiasts: . Maximize saving for your retirement and cut down taxes: . Image: Shutterstock Send To MSN: 0 This article IC3 Reports Crypto Scams Skyrocket: IC3 Reports $9.3 Billion In Losses In 2024 originally appeared on Sign in to access your portfolio
