Share this @internewscast.com
A cybersecurity specialist has issued a warning about a particular scam that has severely impacted seniors, often completely emptying their life savings or retirement funds.
The FBI’s Los Angeles office issued a reminder on social media platform X on July 15 regarding the Phantom Hacker Scam, with reports indicating it has cost Americans over $1 billion since at least 2024. The agency highlighted that this scam specifically targets older adults and stressed the peril of losing one’s entire “life savings.”
The scam operates in three phases: a “tech support impostor,” “financial institution impostor” and a “US government impostor.”
The scam unfolds in a series of stages. Initially, a scam artist posing as tech support reaches out via text, phone call, or email and persuades the victims to install a program giving the scammer remote access to their computer. Subsequently, they request the victims to log into their financial accounts to check for any unauthorized transactions, a step the FBI considers particularly advantageous for the fraudsters. The scam progresses as the con artist selects an account to exploit, instructing the victim they will receive a call with further directives supposedly from the bank’s “fraud department.”
Pete Nicoletti said families should have discussions with their loved ones about the Phantom Hacker Scam. (Getty Images/Adamkaz)
Pete Nicoletti, who serves as the chief information security officer for Check Point, informed Fox News Digital that this scam has become “devastating” for older individuals. He emphasized the necessity for families to engage their loved ones in dialogues for protection. Nicoletti pointed out that fraudsters are tailoring their deception, focusing on people’s hobbies and interests.
Families need to engage in talks about protective measures for seniors against such scams, according to Pete Nicoletti, chief information security officer at Check Point.
“Families should discuss these issues during meals,” Nicoletti advised. “But, essentially, seniors often share personal details on platforms like Facebook, such as being a Corvette enthusiast. Criminals are now employing artificial intelligence to identify these traits and profiles, then sending deceptive emails or messages. They may claim, ‘The Corvette you ordered a month ago is now available for $500, we can deliver it immediately.’ The seniors might think, ‘As a Corvette lover, perhaps I ordered it and forgot,’ or second-guess themselves.”
Over $1 billion has been taken from seniors as a result of the Phantom Hacker Scam. (iStock)
Nicoletti said that victims rarely get their money back, even after reporting it stolen to authorities.
“It’s devastating,” he said. “If [victims report their funds stolen] the same day, there’s a chance. I think it’s in the single digit percentages. It’s, you know, 10, 15%. I’ve heard, I have heard of people getting their money back. If it delayed beyond that, it’s not good. It’s gone.”
