The FBI has issued a warning about the sophisticated “Phantom Hacker” scam, draining over $1 billion from Americans, particularly those nearing retirement. Criminals exploit victims’ personal interests obtained from social media to appear authentic and decrease the risk of being caught. The scam involves multiple impersonators, spoofed phone numbers, and significant follow-ups.

The “Phantom Hacker” scam involves scammers impersonating tech support and financial institution employees, instructing victims to download programs granting access to their computers. They then assist in transferring funds to third parties like the Federal Reserve or U.S. government agencies. The FBI warns of the growing cybercrime threat in the U.S., emphasizing the need for increased vigilance and cybersecurity education, especially among older individuals who may be less tech-savvy.

Read more at Yahoo Finance: FBI Alerts Public on ‘Phantom Hacker’ Scam That Has Drained Billions From Bank Accounts