Victims of gold bar scams reported losses of $126 million in 2024. https://t.co/W68uX4w77X
Singaporeans lost a record S$1.1 billion ($822 million) to scams last year, with cryptocurrency schemes accounting for almost a quarter of the losses, the city-state’s police force says. https://t.co/OAIy7gqzSk
Inside the scam using couriers to collect gold bars to defraud Americans https://t.co/aVq1PDRARL https://t.co/1dGi1M1aEk
In 2024, global losses to scams reached $1 trillion, with Singapore reporting a record $822 million lost, nearly a quarter of which stemmed from cryptocurrency schemes, according to local police. Hong Kong saw losses of HK$9.15 billion (US$1.18 billion), while the Isle of Man reported £2.2 million lost to scams, including investment and phishing fraud. On a per capita basis, Hong Kong residents faced higher losses than Singaporeans. In Kenya, authorities have charged individuals in multiple fraud cases. Ronald Osonga Khejeri was arraigned for allegedly defrauding an investor of Ksh.179 million ($1.3 million) in a fake gold scheme. Another suspect, Jean Emmanuel Morlon, also known as Lamarca J. Benjamin, faced charges related to a Ksh.15.5 million gold scam. Separately, a suspect was arrested in Eldoret for a Ksh.10 million Canada jobs scam. In the United States, a sophisticated gold bar courier scam defrauded victims of $126 million in 2024. Victims, including Kris Owen, were convinced to convert savings into gold bars, which were collected by couriers posing as federal agents. The FBI, which linked the operation to call centers in India, conducted sting operations to apprehend couriers and dismantle the network.