A surge in sophisticated financial scams has been reported, with various sources highlighting the increasing threat to consumers worldwide. Millennials are particularly vulnerable to investment scams, often more so than older generations. Scammers are employing advanced techniques such as deepfake technology to imitate the voices of victims' loved ones, creating a sense of urgency and fear. The digital landscape has seen a high volume of fraud, prompting warnings to bank customers about emerging scammer techniques. A notable incident involved a cryptocurrency syndicate robbing a Melbourne couple of nearly $2 million. Law enforcement agencies are finding it challenging to keep pace with the rapid evolution of cybercrime. Financial experts have declared fraud to be at a crisis level, with specific scams targeting the National Disability Insurance Scheme and Defi platforms, resulting in significant financial losses including more than $67 million stolen in February alone. The Better Business Bureau has reported that cryptocurrency scams are duping Americans out of large sums of money, with about 80% of those targeted losing money. The median dollar amount lost was $3,800, but losses can be much higher. Additionally, in February alone, approximately 57,000 victims lost around $47 million to crypto phishing scams.