When you think of financial scams, you might imagine outlandish emails from faraway princes or awkward phone calls from fake sweepstakes. But the reality is far more sophisticated—and far more personal.
In the first part of our two-part series on fraud, KVNF listeners opened up about how scammers targeted them in ways that felt real, urgent, and devastating. Their stories highlight not only how clever today’s fraudsters have become, but how deeply such schemes can wound a person’s confidence, finances, and sense of safety.
Victim 1
One listener shared a harrowing tale of identity theft that began with a simple act: calling what they believed was Venmo’s customer service number. Their Venmo account was tied to a checking account they’d recently closed, and they needed to update it. A quick Google search returned a phone number. A helpful, kind-sounding person answered. They asked a few questions, confirmed some details, and then slowly began unraveling their life.
The caller claimed there had been suspicious activity. Transactions they didn’t recognize. Money disappearing. Before they knew it, they were on the phone for hours—days even—following directions to “protect your funds” by moving them into a secure account through Bitcoin ATMs and gift cards. The person on the other end of the phone kept reassuring her: “I’ve got your back, honey.”
In the end, the scammer didn’t just take their money—more than $10,000—but also their sense of reality. Their partner described watching a confident, capable person fall into a paranoid trance, whispering about their Wi-Fi being tapped and cutting off communication those they love most.
Victim 2
Another listener shared a different kind of scam—one that preyed on her search for part-time work. After uploading her resume to Indeed, she got a message on WhatsApp about a remote job opportunity with Klarna and Rakatan. The recruiter walked her through a training of their on-line platform that involved buying and selling Bitcoin, promising full repayment and generous commissions.
At first, it all seemed legitimate. She even verified the company names with a friend and one of her kids, and received payment for her first two days of work. But as the process went on, the pressure to send more and more money intensified. She ended up borrowing from her son’s account, convinced that she’d repay him the next day. But the promised payouts never came. Instead, she was left with a $6,000 loss—and the crushing emotional toll of betrayal and shame.
Businesses
Even businesses aren’t safe. A part-owner and principal at a Denver-based engineering firm, shared how his company spends 20 to 30 staff hours every month managing attempted fraud. That includes phishing attacks, fake invoices, and scammers impersonating executives to trick employees into sending money. In one especially sophisticated case, a hacker gained access to a subcontractor’s real email account and used it to request a banking change on a legitimate invoice—redirecting payment to a scammer’s account.
He estimate his firm spends over $50,000 annually on cybersecurity, staff training, and fraud insurance. But even with those precautions, losses still happen. And the emotional cost—especially the erosion of trust—can’t be measured in dollars.
It's not just seniors
This is not a fringe issue. According to the FBI’s Internet Crime Complaint Center, reported losses from internet scams have quadrupled since 2020, reaching nearly $17 billion in 2024 alone. That’s an average loss of $12,000 per victim—and that’s just for the cases that get reported.
While older Americans report the highest total losses, scams affect every age group. In fact, victims in their 30s lost $1.4 billion in 2024, and those in their 40s lost $2.2 billion. What scammers prey on isn’t just age—it’s financial assets, vulnerability, urgency, and trust.
All the victims KVNF spoke with described the same pattern: a moment of confusion, followed by urgency, followed by isolation. They were pressured to act quickly. They were told not to talk to loved ones or authorities. They were made to feel scared, rushed, and even ashamed. And when they finally realized they’d been conned, they were left with far more than an empty bank account. They were left questioning themselves.
That’s why sharing these stories matters. Because if it can happen to a retired police officer, a bank CEO, or your neighbor in Paonia, it can happen to any of us.
So what can we do? That’s what we’ll explore in Part Two of this series. We’ll look at the telltale signs of fraud, share tips from cybersecurity experts, and hear how communities—and lawmakers—are trying to fight back.
Until then, remember: if something feels urgent, isolating, or too good to be true—it probably is.
