JD Supra

“Pig Butchering” Scams and How Victims May Be Able to Deduct Their Losses Under IRC §165

There is no silver lining for a victim who suffers a financial fraud attack, but federal tax law may provide a degree of relief. Financial fraud is a serious concern for all businesses and individuals ...
Hosted on MSN

These 2 groups are now most at risk of falling victim to extortion scams — and, no, seniors aren’t one of them. How digital hygiene is playing a part

In 2023, scams targeting Americans ages 60 and over caused more than $3.4 billion in losses, according to the FBI's Internet Crime Complaint Center. (1) And the Federal Trade Commission (FTC) reports ...
USA Today

Feds seize $15B worth of bitcoin in 'pig butchering' scams that used 'forced labor camps'

Federal authorities have seized about $15 billion worth of bitcoin in alleged fraud and money laundering schemes that used trafficked workers in Southeast Asia to defraud victims in the United States ...
Stevens Point Journal

Central WI banks warn of 'recovery scams' targeting fraud victims

Five local banks are warning consumers about a rising fraud scheme targeting people who have already lost money to scams. The trend, known as a “recovery scam,” involves criminals who promise to help ...
Morningstar

The New Identity Theft Crisis: AI Scams, Child Victims, and Credit Damage Are All Spiking

Debt.com's annual ID Theft Survey reveals that in one year, identity theft victimization rose from 43% to 78%, and concern over AI-fueled fraud has skyrocketed to 90%. Each December, Debt.com surveys ...