The FBI is warning Americans about a sophisticated phantom hacker scam that has drained more than $1 billion from victims — many of them seniors — by tricking them into believing they are safeguarding their money from cybercriminals, The Hill reported.
The scheme, which has resurfaced in recent months, unfolds in three stages designed to convince unsuspecting victims to relinquish control of their finances. Unlike basic phishing emails or fraudulent calls, phantom hacker operations involve multiple impersonators, spoofed numbers, and official-looking documents to appear authentic.
According to the Justice Department, victims who believe they are protecting their assets often have their financial accounts wiped out.
The scam typically begins with a phony tech-support contact. Scammers posing as legitimate company representatives reach out by phone, text, email, or even pop-up alerts. Victims are then persuaded to download software that grants remote access to their computers. After a bogus "virus check," victims are directed to review financial accounts for supposed unauthorized charges.
The second phase comes when a supposed representative of a well-known bank calls to warn that overseas hackers have compromised the account. The fake bank agent insists the only way to protect the money is to transfer it to a "safe" third party, such as the Federal Reserve or another government entity.
The final stage is designed to reinforce the illusion. A scammer may pose as a government official, even sending letters on what appears to be official government letterhead, insisting the funds remain at risk unless they are moved again.
"These attacks are not just simple phone calls or phishing emails — they're complex operations that involve multiple impersonators, spoofed phone numbers, and coordinated follow-ups," said Scott Davis, chairman of the Cybersecurity Association of Pennsylvania. "Seniors are being tricked into believing they're protecting their money, when in reality they're handing it straight to criminals."
Aaron Rose, a security architect manager at Check Point Software, said criminals often exploit people's personal interests, which they can learn from public social media profiles.
"Criminals use personal interests to make their criminal actions appear authentic, which decreases the chances of being caught," Rose said. "AI [artificial intelligence] technology can analyze social media content to detect personal interests and life milestones, which allows it to generate messages that seem personalized."
According to FBI data, the scam has disproportionately targeted Americans 60 and older, stripping many of their retirement savings.
Experts say awareness is the best defense.
"The simplest advice is the most important: Never give remote access to your computer if someone calls you unexpectedly," Rose said. "Do not move your money just because a caller says they are from your bank or the government. Hang up, call the number printed on your bank statement, and verify the situation for yourself."
The FBI urged any suspected victim to report the crime to a local field office or submit a complaint through the Internet Crime Complaint Center at ic3.gov.
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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