Massive Scam Epidemic: Billions Stolen Annually from Americans

July 8, 2024
scam epidemic in America


In a disturbing trend, scammers are exploiting Americans for billions of dollars each year, with elderly citizens being the prime targets. Sophisticated criminal networks, primarily operating from overseas, are employing advanced technologies like artificial intelligence to execute scams that range from romance to tech support fraud, siphoning vast sums from victims.

Source: AP News


The scamming epidemic in the U.S. has escalated to crisis levels, with older Americans suffering the most significant financial hits. Authorities and organizations like AARP’s Fraud Watch Network struggle to keep pace with the increasing sophistication of these frauds. Despite the efforts, most criminals remain out of reach due to the complexities of cross-jurisdictional law enforcement and the rapid movement of stolen funds into untraceable assets like cryptocurrencies.



In addressing the rampant scamming crisis, iCognative technology presents a breakthrough method for law enforcement. This technology assesses suspects’ brain responses to stimuli directly linked to their alleged scams. For instance, during interrogations, authorities could show suspects evidence such as recordings of scam calls, scripts used in fraud schemes, or visuals from the scam operations. The process works by measuring brain activity to detect recognition patterns. If a suspect’s brain activity spikes upon viewing these stimuli, it indicates familiarity with the material, thus revealing a likely involvement in the crimes.

Integrating iCognative into the investigative process promises a substantial uplift in the capability to not only identify but also prosecute the perpetrators of these increasingly sophisticated financial crimes.

Source: Brainwave Science