Connect with us

Technology

Financial Scams Are Becoming More Sophisticated–And Seniors Are Paying the Price

Published

2 hours ago

on

Jeff Smith of The Retirement Smith shares vital information everyone should know about financial scams

FREDERICKSBURG, Va., May 13, 2026 /PRNewswire/ — Nobody thinks they will become the victim of a financial scam. We all know they happen on a regular basis, but we tend to believe they happen to someone else. That is, until it happens to us or someone we know. The problem is that financial scams have become so prevalent and sophisticated that they are more difficult to spot, and seniors and others are paying a hefty price. It is crucial that people be aware of what to watch for in order to avoid becoming one of the millions being scammed yearly.

“Sadly, this is an issue that touches millions of people, and it can rob them of their retirement savings,” said Jeff Smith, a financial planner and owner of Fredericksburg, Va.-based The Retirement Smith. “It’s imperative that people be proactive in watching for scams so they can be avoided each and every time they are presented with one.”

Smith has heard stories from his own clients of their experience with being scammed, including for tens of thousands of dollars. While we would like to think that they are isolated incidents when we hear about them, that’s just not the case when we look at the facts. According to the Federal Trade Commission (FTC), there is a growing wave of scams aimed at stealing the life savings of retirees. They report that from 2020 to 2024, the number of older adults who reported having been scammed of at least $10,000 increased fourfold. During the same period, those reporting having been scammed of at least $100,000 had increased sevenfold.

The National Council on Aging reports that fraudsters target older adults because they believe they have plenty of money in the bank. Since many people end up embarrassed about being scammed, some of it goes unreported, which leads fraudsters to believe it is a crime with a low risk of being caught. Meanwhile, they report that worldwide, those over the age of 60 collectively lose billions of dollars per year to scams.

With advances in technology, financial scams have become increasingly more sophisticated. They include the use of artificial intelligence (AI), spoofed calls and texts, emotional manipulation, fake fraud alerts, voice cloning, impersonation scams, and more. The more high-tech the scams become, the more people they are able to convince, including those who are considered intelligent and aware of scam risks.

While there is no sure-fire way to prevent becoming a victim of fraud and scams, there are some things that everyone can do to try to reduce the risks. Here are some tips to help protect and prevent being financially scammed:

Be aware. Oftentimes, the details about what the latest common scams are readily available online. This will help people be able to spot them easier when they do come their way. Current popular scams include tricking someone by telling them a loved one is in need of assistance, those posing to be from a financial institution or debt collection agency, tech support scams, government impersonation scams, and romance scammers.
 Contact companies directly. Those who are told a particular company needs to contact with them should avoid responding to texts, calls, and emails. Rather, contact the company directly by going to their website and contacting them without using any links or numbers provided in the suspicious message.
 Block spammers. It is common for people to get spammers calling or texting on a regular basis. Be sure to block them all, rather than respond to them, in order to minimize seeing more of them. Avoid replying to the spammers, because it just lets them know it is a legitimate contact method.
 Never transfer money. Avoid sending money to anyone who reaches out asking for it. Anyone who feels they need to pay for something, but they are unsure if it’s a scam or not, should get a second opinion. Once money is transferred, it cannot be taken back, and this is how millions lose money each year.
 Report suspicious activity. Any suspicious activity or requests should be reported to the local police department through their non-emergency route. This way, they can evaluate it and also alert others of the types of scams that are circulating. Fraud can also be reported to the FTC.

“It is a devastating situation to be in when getting financially scammed,” said Smith. “We have to be hyper-vigilant when it comes to this issue, unfortunately, because fraudsters are always out to scam people. We can and must take steps to help make it more difficult for them to be successful.”

The Retirement Smith serves those in the Fredericksburg, Va., area and beyond with individualized financial planning. Their motto is to treat people as they want to be treated, and they aim to ensure there are no gaps, that people have the answers and solutions they need, and that they will not fall short in their retirement years. They offer retirement planning, income planning, and life insurance. They provide a free, color-coded money risk analysis that focuses on the three major phases of retirement financial management: accumulation, distribution, and preservation. They also offer a Balanced Retirement book to help people plan for a successful retirement. Smith has recently joined with his wife, Jennifer Scherer, owner of Fredericksburg Fitness Studio, to create a podcast that focuses on fitness and finances. For more information or to schedule a complimentary consultation, please visit our website at: https://www.theretirementsmith.com/.

About The Retirement Smith
Financial planning expert Jeff Smith owns The Retirement Smith, located in Fredericksburg, Va. The company focuses on providing people with well-thought-out retirement income strategies. Plans are tailored to the needs of individuals and families, as well as small and large businesses. For more information, visit the site at: https://www.theretirementsmith.com/.

Disclosure: Advisory Services are offered through The Retirement Smith, A Registered Investment Advisor in the State of Virginia. The Retirement Smith and The Insurance Smith are not affiliated with or endorsed by Social Security Administration or any other government agency. Insurance products and services are offered through The Insurance Smith, an affiliated company.

Sources:

Federal Trade Commission. False alarm, real scam: how scammers are stealing older adults’ life savings. August 2025. https://www.ftc.gov/news-events/data-visualizations/data-spotlight/2025/08/false-alarm-real-scam-how-scammers-are-stealing-older-adults-life-savings

National Council on Aging. The Top 5 Financial Scams Targeting Older Adults. March 2026. https://www.ncoa.org/article/top-5-financial-scams-targeting-older-adults/

View original content to download multimedia:https://www.prnewswire.com/news-releases/financial-scams-are-becoming-more-sophisticatedand-seniors-are-paying-the-price-302771359.html

SOURCE The Retirement Smith

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Amber International Holding Limited Files 2025 Annual Report on Form 20-F

Published

24 minutes ago

on

May 13, 2026

By

SINGAPORE, May 13, 2026 /PRNewswire/ — Amber International Holding Limited (Nasdaq: AMBR) (“Amber International”,  “we,” “us,” or the “Company”), a leading provider of institutional crypto financial services and solutions and operating under the brand name “Amber Premium”, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission (the “SEC”) on May 13, 2026 U.S. Eastern Time.

The Company’s annual report on Form 20-F, which contains its audited consolidated financial statements, can be accessed on the SEC’s website at www.sec.gov as well as on the Company’s investor relations website at www.ir.ambr.io. The Company will provide a hard copy of its annual report, which contains its audited consolidated financial statements, free of charge to its shareholders and holders of American depositary shares representing its Class A ordinary shares upon request. Requests should be directed to ir@ambr.io.

About Amber International Holding Limited

Amber International Holding Limited (Nasdaq: AMBR), operating under the brand name “Amber Premium,” is a global leading digital wealth management platform. As a private banking grade expert in digital wealth management and a subsidiary of Amber Group, Amber Premium is a trusted partner to high-net-worth individuals and leading institutions, delivering institutional-grade market access, execution infrastructure, and investment solutions. The firm is set to redefine the digital wealth management landscape, serving as a proven Nasdaq-listed gateway to digital assets. Learn more at www.ambr.io.

Media & Investor Contacts

In Asia:
Amber International Holding Limited
Media Relations Team
Phone: +65 6022 0228
E-mail: pr@ambr.io | ir@ambr.io

In the United States:
International Elite Capital Inc.
Annabelle Zhang
Tel: +1 (646) 866-7928
E-mail: amber@iecapitalusa.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/amber-international-holding-limited-files-2025-annual-report-on-form-20-f-302771559.html

SOURCE Amber International Holding Limited

Continue Reading

Technology

Strengthening Calgary’s workforce to deliver more homes

Published

24 minutes ago

on

May 13, 2026

By

CALGARY, AB, May 13, 2026 /CNW/ – In Budget 2025, we outlined our plan to build Canada Strong.

The Spring Economic Update 2026 is the next step in our plan to build Canada Strong for All.
It provides a clear update on the strength of Canada’s economy, giving Canadians confidence in our plan. It delivers targeted relief to make life more affordable, support workers and accelerate the construction of homes and major infrastructure. It also strengthens Canada’s competitiveness and economic growth while investing in strong, safe communities across the country.

Today, Corey Hogan, Parliamentary Secretary to the Minister of Energy and Natural Resources and Member of Parliament for Calgary Confederation, hosted a roundtable with local community housing partners to highlight housing measures from the Spring Economic Update 2026 that will help build more homes in Calgary by growing the skilled workforce, speeding up construction and supporting modern methods of construction.

The Spring Economic Update takes a practical, co-ordinated approach to housing, bringing together workforce investments and targeted measures to help projects move faster from planning to construction.

A cornerstone of this approach is $6 billion to recruit, train and hire skilled trades workers across Canada. These investments ensure communities have the electricians, carpenters, welders and construction workers needed to build homes for Canadians. This creates good-paying jobs and careers in the skilled trades as we push to build with more Canadian labour and materials.

We’re pairing workforce investments with targeted measures to move projects faster from financing to construction. The Spring Economic Update accelerates more than $7 billion in low-cost loans through the Apartment Construction Loan Program, supporting the construction of up to 16,500 new rental homes and helping bring much–needed supply to market sooner.

These efforts are reinforced by a $41.9-million investment over five years, starting in 2026–2027, to modernize and innovate Canada’s homebuilding system. This funding will streamline regulations and update National Model Codes in collaboration with provinces and territories — cutting red tape and eliminating duplicate inspections, as well as streamlining modular and factory–built housing. Together, in Alberta and across Canada, these measures also create the opportunity to build with materials that help grow our economy and support local jobs, like Canadian lumber, aluminum and steel.

Our new government is building a Canada that is not just strong, but good; not just prosperous, but fair; a Canada that is not just for some, most of the time, but for all, at all times. We’re building Canada strong, for all.

Quotes

“Solving Canada’s housing challenge means building faster — and that starts with up-skilling our workforce to deliver affordable new homes in Alberta and beyond. Through the Spring Economic Update, our government is investing so homes can move from planning to construction faster. Here in Calgary, these investments will help create good-paying jobs, strengthen our local economy and deliver the homes families need now and in the future.”

Corey Hogan, Parliamentary Secretary to the Minister of Energy and Natural Resources and Member of Parliament for Calgary Confederation

Quick Facts

The Spring Economic Update 2026 builds on recent action — including $1.7 billion through the Improving Housing Supply Act — to cut red tape, lower costs and speed up homebuilding.$41.9 million over five years (starting 2026–2027) will modernize homebuilding by streamlining regulations and National Model Codes; enabling faster approvals for modular and factory–built housing; accelerating adoption of innovative construction methods; and improving housing data to support faster delivery.The government intends to unlock financing for “missing middle” housing by expanding mortgage insurance for three– to eight–unit residential buildings, with a 30–day consultation to follow.Team Canada Strong will invest up to $6 billion over five years to grow the skilled trades workforce — supporting apprentices end–to–end and cutting the time to Red Seal certification by up to 50 percent.Working alongside a comprehensive suite of federal housing measures, Build Canada Homes is providing tailored support to quickly address varying housing needs across the country.

Associated Links

Spring Economic Update 2026: Canada Strong for AllSpring Economic Update 2026: Key MeasuresSpring Economic Update 2026: Address by the Minister of Finance and National Revenue

Follow Natural Resources Canada on LinkedIn.

SOURCE Natural Resources Canada

Continue Reading

Technology

Ownwell and San Antonio Spurs Honor 2025-26 Community Champions and Expand Property Tax Education Across Bexar County

Published

24 minutes ago

on

May 13, 2026

By

Eight local heroes recognized at Frost Bank Center during a landmark Spurs season, as Ownwell deepens its commitment to San Antonio homeowners

SAN ANTONIO, May 13, 2026 /PRNewswire/ — As the San Antonio Spurs close out a strong season, finishing the 2025-26 regular season 62-20, capturing their first division title since 2017, and now competing in the NBA Playoffs, Ownwell is proud to announce the return of its Community Champions program for a second consecutive year in partnership with Spurs Sports & Entertainment.

This season, Ownwell and the Spurs honored eight extraordinary San Antonio residents whose dedication to their community exemplifies the same spirit of resilience and service the Silver and Black have always embodied. Community Champion Honorees were celebrated on the Frost Bank Center court during halftime at various Spurs home games, and each honoree received $1,000 toward their property tax bill, courtesy of Ownwell.

Meet the 2025-26 Ownwell Community Champions
This year’s honorees represent the full breadth of what it means to serve San Antonio, from first responders and educators to caregivers and coaches who refused to let their community down:

Christopher S. – A first responder with the Bexar County Sheriff’s Office, entering his fifth year of service, Christopher puts his life on the line daily to protect Bexar County residents.

Sabrina R. – A 911 operator for the City of San Antonio Police Department with nearly nine years of service, Sabrina is the calm voice in a crisis. She and her family also quietly feed the unhoused — modeling for her children the power of giving back.

Amanda G. – When a young teammate on her daughter’s basketball team tragically passed away, Amanda stepped up to coach five grieving girls, ages 7-9, through the remainder of the season. The team advanced all the way to the Spurs Youth Basketball League citywide championship, earning second place. A true testament to Amanda’s heart, leadership, and resilience.

Krystal A. – A hospice worker of extraordinary compassion, Krystal has walked alongside patients and their families during life’s most difficult transitions, earning the deep gratitude of those she serves.

Margaret B. – An educator at Brackenridge High School for over 13 years, Margaret provides high-quality art instruction in 3-D Design, sculpture, and ceramics. She also hosts a weekly art club and runs an annual art showcase that opens her classroom to the entire community.

Raymond G. – A Parks Operations Supervisor for the City of San Antonio, Raymond works behind the scenes to ensure that every park in the city is clean, safe, and welcoming for the families who depend on those spaces every day.

Heather G. – She dedicated the past year to caring for her brother as he battled stage 4 glioblastoma, supported their family through unimaginable hardship, and now continues to raise awareness for the disease in his memory following his passing in September 2025. Heather’s love and sacrifice reflect the quiet heroism that sustains entire families.

Pauline B. – A hospice worker of extraordinary compassion, Pauline has walked alongside patients and their families during life’s most difficult transitions, earning the deep gratitude of those she serves. Her story of service inspired a special additional honor from Ownwell this year (see below).

Partnership Rooted in Community Service
“The success of this partnership reflects a clear purpose to educate and empower local homeowners while recognizing the leaders who make our community stronger,” said Frank Miceli, chief commercial officer for Spurs Sports & Entertainment. “When we align around a shared mission like this, the results extend far beyond business—they’re felt in every neighborhood across San Antonio.”

The Spurs’ remarkable 2025-26 season, which included the franchise’s best-ever start at 5-0, an 11-game winning streak in February, and a Southwest Division championship, provided the perfect backdrop for a program built on recognizing extraordinary effort With this strong showing, the Spurs energy this season has been a rising tide lifting the entire city.

Closing the Property Tax Knowledge Gap in Bexar County
Alongside the Community Champions program, Ownwell continued to host free property tax education events across San Antonio throughout the 2025-26 season. These Lunch & Learn sessions empowered homeowners to understand how property appraisals work, when and how to file an appeal, and which exemptions may be available to them.

The need is significant. In 2025, more than 490,000 Bexar County homeowners did not protest their property tax assessments, a missed opportunity that Ownwell estimates could have collectively saved those residents more than $126.5 million. To date, Ownwell has helped reduce tax bills for more than 38,000 Bexar County properties, generating over $12 million in savings for local homeowners.

“Every homeowner in Texas deserves a fair shot at lowering their property tax bill,” said Sam Sosa, Senior Property Tax Manager at Ownwell. “Through these events and programs, we’ve helped thousands of families understand their rights and navigate the system with confidence. The Community Champions remind us why this work matters — these are real people, real neighbors, and real stories.”

What Homeowners Should Know
With the May 15th appeal deadline fast approaching, Ownwell encourages Texas homeowners to take action. Here are three key reminders:

Learn the process. Understanding your rights and how the property tax system works is the first step to saving money.Track your property value. Keep an eye on your annual appraisal and tax bill to spot unexpected changes. A lower assessment doesn’t mean it’s accurate.Get support. Whether it’s through Ownwell, your local appraisal district, or a legal professional, don’t hesitate to ask for help if your property valuation seems too high.

To learn more or get started with your own property tax appeal, visit www.Ownwell.com.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/ownwell-and-san-antonio-spurs-honor-2025-26-community-champions-and-expand-property-tax-education-across-bexar-county-302771581.html

SOURCE Ownwell

Continue Reading

Trending