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Online Scams Cost Over $1 Trillion Annually, Targeting Vulnerable Demographics

Analyzed 3 sources • 9h ago • Saved 10 min • Updated 1h ago
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#Technology#Cybersecurity#Phantom Hacker Scam#Online Scams#Oro#AI Scams#Phishing#AI News

Online Scams Cost Over $1 Trillion Annually, Targeting Vulnerable Demographics

Cat Icon 1194+ Words Refined into 6 Facts by AI • 2 sources • 9h ago
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Related Update: 7 hours later

Phantom Hacker Scam Targets Older Americans

Cat Icon 1254+ Words Refined into 10 Facts by AI • 1 source • 1h ago
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    • The Phantom Hacker scam has cost victims over $500 million since 2023.
    • This scam targets primarily older Americans through three phases.
    • Phase one involves tech support impostors claiming devices are compromised.
    • Victims are instructed to download remote access software.
    • In phase two, scammers impersonate financial institutions to pressure victims.
    • Victims are urged to transfer money to a 'safe' account.
    • Phase three features impersonation of federal officials like the Federal Reserve.
    • Scammers use AI chatbots and voice cloning for deception.
    • Experts recommend verifying phone numbers and ignoring unsolicited messages.
    • Kurt Knutsson advises verifying requests through official channels.
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