Financial fraud is inflicting a deep and lasting emotional toll on consumers worldwide, with anger, anxiety and shame emerging as the most common responses among victims, according to new research from LSEG Risk Intelligence.
The global study and report, After the scam: The emotional and financial impact of global fraud, surveyed more than 21,000 adults across 14 countries and found that the impact of scams extends far beyond financial loss. It fundamentally alters how people feel, behave and trust others.
David Wilson, Group Head at LSEG Risk Intelligence, comments:
“Every transaction has a story – and too often, that story is one of anger, anxiety or shame. Our research shows that fraud leaves a lasting emotional impact that changes how people behave and whom they trust.
“The emotional damage caused by scams creates a wider trust deficit. When people no longer feel confident…
THE HASHFLARE “CLOUD MINING” PONZI SCHEME (GLOBAL/ESTONIA)
Date: February 13, 2025 (Guilty Pleas) Perpetrators: Sergei Potapenko and Ivan Turogin
Case Description: This $577 million cryptocurrency fraud remains one of the largest digital asset scams in history, with major legal developments concluding in 2025. Potapenko and Turogin operated “Hashflare,” which they marketed as a massive cryptocurrency mining operation. Hundreds of thousands of victims worldwide purchased “mining contracts,” believing they were renting hash power to mine Bitcoin. In reality, the duo was running a sophisticated Ponzi scheme.
They created fake customer dashboards that showed “real-time” mining profits, but the money being paid out was simply the capital of newer investors. They laundered the proceeds through shell companies to purchase luxury real estate and a fleet of high-end vehicles. After a massive international investigation involving the FBI and Estonian authorities, the pair agreed to forfeit over $400 million in assets. This case underscores the “Cyber-enabled Fraud” warning issued by the FATF in early 2026: as technology evolves, the scale of fraud moves from local millions to global billions in the blink of an eye.
Link to Original: ACFE – High Profile Fraud of 2025