FBI alerts older Americans to ‘Phantom Hacker’ scheme siphoning retirement savings

The FBI is warning that a multistage “Phantom Hacker” scheme is targeting older Americans and has siphoned more than $1 billion since at least 2024. The con typically unfolds in three acts—fake tech support, a bank fraud department impersonator and a government official—pressuring victims to grant remote computer access and move funds to supposed “safe” accounts via wires, cash or crypto. Cybersecurity experts say criminals are increasingly using artificial intelligence to scrape social media and craft personalized lures, and that recovery odds are slim—often in the single digits unless reported the same day. Families are urged to discuss safeguards with elderly relatives as criminals refine tactics to exploit trust in financial and government institutions.

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