Showing posts with label Financial Crime. Show all posts
Showing posts with label Financial Crime. Show all posts

Tuesday, June 2, 2026

Your Next Villain Doesn't Own a Gun

By James M. Jackson

Old scam, new potency

A woman in her seventies picks up the phone. It's her grandson. He's in trouble. There's been an accident, a lawyer, bail, and he needs money fast, and please, please don't tell Mom. She knows this scam, but she knows his voice, too. And right now it’s shaking. She asks questions; he answers. She wires the money.

It wasn't him. It was a few seconds of his voice lifted from a birthday video on social media and run through an AI cloning tool by someone she will never meet, in a country she'll never visit. The answers were shaped by material scraped from his social media.

I lifted that updated scenario, in spirit, straight from the FBI's 2025 Internet Crime Report (downloadable PDF), published by the Internet Crime Complaint Center (IC3), which logged more than a million complaints last year and $20.877 billion in reported losses—up 26% from last year.

Meanwhile, the violent crimes that populate many of our novels are on the decline. According to the preliminary FBI report on violent crime (press release here) murder and manslaughter were down 18.1% last year. Robbery down 18.5%.

We writers can do a real service for our readers and increase their awareness of how insidious these crimes are by including them—and the damage they do to their victims—in our novels and stories. It requires some thought to pull it off.

Oh sure, there’s plenty of traditional mayhem to populate our standard crime genre tropes if that’s what we want to write about. But crime is changing and moving rapidly to financial-driven crimes. My experience is most people think they are too smart to fall victim to modern hoaxes. Then, of course, they do.

Who the victims are

Americans sixty and older reported $7.7 billion in losses last year, up 59% in twelve months, with an average loss of $38,500. For a retiree, that can mean losing their house, their savings, their dignity. And these weren't fools. Of the crypto-fraud victims the FBI proactively notified through one initiative, 78% had no idea they were being scammed. That same program referred dozens of victims to specialists for suicide intervention. People don't just lose money to these crimes. Some of them don't survive the shame.



That’s the pain we can show through our writing. But we have challenges.

The villain has no face

Crime fiction loves a mastermind—the antagonist you can name and chase to a final confrontation. The 2025 data makes that harder to justify.

The single largest source of financial loss last year wasn't a heist or a hack. It was cryptocurrency investment fraud, a slow-burn con the press calls "pig butchering." They drained $7.2 billion from Americans. It’s not some super-geek hacker working in his basement (or his parents’ basement). The FBI reports these operations are largely run by organized criminal enterprises in Southeast Asia, in compounds across Cambodia, Laos, and Burma, staffed by victims of human trafficking forced to run the scams.

The person texting your protagonist sweet nothings about a can't-miss crypto play may themselves be a prisoner, beaten if they don't hit a quota. It's a victim victimizing a victim. It’s thriller material for sure, but there’s a pacing problem.

The weapon is trust, and it's patient

The other significant shift is from confrontation to confidence. There's no dark alley in these stories, no struggle, no weapon you could dust for prints. There's just patience.

Romance and investment scams are courtships. The "kill" can take months—daily good-morning texts, shared dreams, a fabricated portfolio that ticks reassuringly upward until the victim is all the way in. By the time the money's gone, the relationship feels more real than the people in the next room.

This is a slow burn—psychological thrillers, maybe? Or maybe it’s backstory that slowly appears because the immediate call to action is the recovery scam.

The recovery scam

After they rob you, someone calls offering to help you get your money back—for a fee. The IC3 logged 10,516 of these in 2025, totaling $1.4 billion. The con that robs you, and the con that robs you again while you're grieving the first one. Maybe that’s where the fiction good guys can play cat and mouse and spring the trap. And the good guys have new tools as well.

The deepfake tell

Artificial intelligence has graduated from gimmick to standard-issue tool. The report flags 22,364 complaints with an AI nexus and $893 million in losses. The tools are not just voice clones for those "distress" calls; they include AI-written scripts that make a romance bot sound like a soulmate, deepfaked celebrities hawking fake funds.

For those of us who like to slip an authentic, earned detail into a reveal, the FBI handed us a gift. In flagged employment-interview scams, investigators noticed the deepfakes weren't perfect: the speaker's lip movements didn't quite sync with the audio, and a cough or a sneeze landed a half-second off from the picture. That's your detective's gotcha—not invented, not a cheat, but a real, current tell pulled from the field. Use it before everyone else does.

The investigators get a new clock

And while the build-up part of the scam takes time, once the money begins to move, the ticking clock races. The FBI's "Financial Fraud Kill Chain" is a race against a wire transfer: freeze the funds before they hop from the first bank to the next account, then overseas, then gone. A few brief hours and minutes can make the difference between success and failure.

The genre's new dark

Old fears we trade in still work. We taught readers to fear the stranger in the dark, the knock at the door, the figure at the end of the hall. The 2025 numbers suggest the next thing to fear is gentler and far closer: the friend in your pocket. A grandchild who calls. The investor who finally understands you. The kind voice offering to fix everything.

Means is now a chatbot. Opportunity is a notification. And motive is a quota, set by someone you'll never catch, in a building full of people who can't leave.

Writers, have you started tackling these issues in your stories? Readers, will these crimes keep you up at night (reading books, hopefully, not worrying)?

 * * * * *

James M. Jackson writes justice-driven thrillers with brains and bite, including the Niki Undercover Thriller series and the Seamus McCree series. To learn more information about Jim and his books, check out his website, https://jamesmjackson.com. You can sign up for his newsletter (and get to read Low Tide at Tybee, a novella featuring Seamus, his darts-throwing mother, and six-year-old granddaughter, Megan).

Sunday, February 21, 2016

Financial Abuse of the Elderly

I (Jim) have been working on two short stories this month. Although the stories are very different, they share two similarities. Both involve my series character Seamus McCree and crimes against the elderly or mentally diminished.

Fellow WWK blogger Tina Whittle and I are writing one of the stories together. That one is for an anthology expected to be titled 50 Shades of Cabernet. The co-authoring thing is a new experience for me, and I am enjoying it. (I hope Tina is, too.) The second story is my planned submission to the fourth Guppy Chapter of Sisters in Crime anthology titled Fish Out of Water.

This need of mine to write about financial abuse of the elderly is not new. Perhaps it stems from my current responsibility to handle my mother’s finances, and I am more aware of the potential. Maybe it’s because I write about financial crimes. Criminals always follow the money, and today’s retirees as a group have a lot of money. Maybe it’s because news articles have suggested the way we now treat elder abuse is similar to the way we used to treat child abuse: severely underreporting the extent of the crime, blaming victims, allowing institutional practices to remain unchallenged. Whoa! That’s a charge.

Consider these facts:

Much as child abuse often happens within the family, according to AARP, nearly 60 percent of the Adult Protective Services cases of financial abuse nationwide involved an adult child of the elderly person.[1] According to a study sponsored by the Journal of Internal Medicine, friends and neighbors account for another 17%, and paid home aids 15%.[2] In this study, only 10% of the reported cases are perpetrated by strangers.

We don’t know for sure what percentage of total financial abuse is reported. Victims are often unaware. When they do realize they are victims, they are often too embarrassed to report the crime. Sometimes they are afraid to report the crime, fearing physical or psychological abuse from the perpetrator. Those suffering from dementia, depression, or disabilities are most at risk.

Sometimes the abuse is hard to catch, taking the form of “loans” that are never repaid, cheating not only the victim, but others who should have shared in the estate. Often the crime is simple theft, extracting money from an ATM, writing checks to themselves, buying stuff with the victim’s credit cards.

Taking a few simple steps can make it more difficult for perpetrators of elder financial fraud.

(1) As early as possible make sure you (and your parents, if alive) have an estate plan in place, including a will (and/or living trust) and health directives. Discuss your wishes with family so everyone knows what is to happen if you can’t take care of yourself in the future. This may be an uncomfortable conversation with your loved ones, but bright sunshine on your finances helps makes it harder for the mold of later abuse to take hold.

(2) Be wary when “new best friends” enter the life of a loved one. Any hint of “sharing” finances or the new friend “taking care” of finances should shoot off rockets of concern.

(3) Institute checks and balances wherever possible. Only a small percentage of lawyers and financial advisors are crooks, but alarm bells should go off if your lawyer recommends a financial advisor or vice versa. Independently verify referrals. Conversely, you may be able to use a lawyer or financial advisor as a resource to help prevent financial fraud.

(4) Use technology to help monitor spending. Credit card companies provide transaction alerts, which can provide early warning of a stolen number. If you worry about a relative who is still independent but potentially at risk, you can purchase monitoring services to spot unusual activity. An example is EverSafe.[3] (I mention them only as an example of what can be purchased. I have not used them and have no personal knowledge of how well they perform.)

(5) If one family member is responsible for a parent’s assets, make sure a second person has the ability to review transactions, asset statements, etc. I use DropBox to store my mother’s credit card, bank and mutual fund statements so one of my sisters can look over my shoulder. This protects Mom and also allows my sister to easily take over if something happens to me.

(6) If anything seems suspicious, ASK QUESTIONS.

Is financial crime against the elderly a concern for you, either for yourself or a relative? What have you done about minimizing risk of abuse?

~ Jim



[1] http://www.westernjournalism.com/elder-financial-abuse-near/
[2] http://www.springer.com/gp/about-springer/media/springer-select/older-adults-are-at-risk-of-financial-abuse/30696
[3] https://www.eversafe.com/