RT Crémieux (@cremieuxrecueil)After a supposedly 111-year-old man was found to have been dead since 81 and unreported so his daughter could keep collecting his pension checks, Japanese authorities began investigating the country's oldest old.They found a mess. https://t.co/QxYyK7GDbu ...

Play Pointed, Bloomberg’s news quiz for risk-takers.This week's categories include CEOs, fraud, and conventions.Bet big on the topics you know, and maximize your score by leveraging your wagers. Choose wisely—wrong answers will cost you https://t.co/Nu0HVFedK0 https://t.co/g6ALZpbCOE ...

Fraud Landscape - 73% of US adults have experienced some kind of online scam or attack [1] - Reported losses from fraud hit $125 billion in 2024, showing a significant increase [1] - Scammers exploit human desires and vulnerabilities for illicit gain, targeting areas like romance, travel, and relief efforts [6] - Scammers are leveraging AI and deepfakes to create more sophisticated scams [10][18] - Democratization of access to AI capabilities allows scammers to target anyone and everyone, including small business owners [17][18][19] Common Scam Tactics - Dating scams involve fake verification services that subscribe victims to recurring billing services [3][4][5] - Travel scams involve mimicking airline or hotel websites to steal payment information [7] - Scammers use phishing, smishing (SMS phishing), and data from the dark web to obtain personal and financial information [7][8] - Scammers scrape social media profiles to create synthetic identities to target family or co-workers [16] Prevention and Mitigation - Consumers should be wary of deals that are too good to be true or situations where they are pressured to make a quick decision [9] - Consumers should check their account statements regularly and sign up for transaction alerts [5][13][14] - Consumers should be careful about the data they share, especially on social media [15][16] - Visa has identified over $1 billion in scams across its network and is working with law enforcement to dismantle them [9] - The industry needs to invest in good applications of AI to combat the bad applications of AI used by scammers [11]

Fake documents allowed Qian Zhimin to flee to Britain, where she and two accomplices were eventually arrested. The case has drawn much attention in China https://t.co/RyTSOFEBMx ...

Immigration Policy & Fraud - US Citizenship and Immigration Director exposes migrant parole program riddled with fraud [1] - Rich NGOs "sponsoring" thousands of illegals without knowing their identities [1] - The situation is described as a betrayal [1]

Key Events - UK authorities convicted Zhimin Qian, a Chinese woman, in connection with a massive fraud [1] - Authorities seized 61,000 BTC (Bitcoin) [1] Financial Impact - The seized Bitcoin is valued at $6.7 billion (USD 67 亿) [1] - The funds are linked to a fraud that affected 128,000 victims (12万8千受害者) [1] Market Position - Zhimin Qian held more Bitcoin than any corporate entity besides Saylor [1]

Event Information - CFTC, NFA, SEC, and FINRA Foundation are hosting a panel discussion on October 7 from 1-2 p.m EDT about AI in scams [1] - The panel discussion is titled "Deconstructing to Disrupt Fraud" and is part of World Investor Week [1] Focus of Discussion - The discussion will focus on the rise of AI in scams and how consumers can protect themselves [1]

Join @CFTC Oct. 1 from noon to 1 p.m. EDT as we unite with @AARPFL, @FBI, and @SECGov for a panel discussion about scams. Learn how to spot, avoid, and report fraud. Register now at https://t.co/eDjLBuWBip. https://t.co/SekxCSTib3 ...

Fraud Scheme Details - A Chinese national pleaded guilty in a nearly $7 billion fraud scheme [1] - The UK government seized 61,000 Bitcoin related to the fraud [1]

Legal & Financial Implications - Charlie Javvis, founder of Frank, was sentenced to over 7 years in prison for defrauding JP Morgan [1] - Javvis was convicted on four counts: bank fraud, securities fraud, wire fraud, and conspiracy [2] - JP Morgan acquired Frank, a college financial aid startup, for $175 million [1] Case Details - The trial involved the defrauding of JP Morgan by Charlie Javvis [1] - Javvis pleaded not guilty and is expected to appeal her conviction [2] - The sentencing took place in Manhattan federal court [1]