A dangerous new cybercrime wave known as the “Phantom Hacker” scam has stolen over ₹8,350 crore (US$1 billion)from elderly victims worldwide—mostly in the United States—within just one year. Criminals impersonate tech support agents, bank officials, and government investigators to convince victims that their bank accounts or devices have been hacked.
The scam unfolds in three manipulative phases. First, fraudsters trigger fear with fake security alerts or pop-ups claiming malware infections or suspicious activity. Next, they pressure victims to install remote-access software, pretending it is for protection but actually gaining full control of the victim’s device. Finally, scammers pose as government “rescuers,” warning that the bank itself is compromised and instructing victims to transfer money to a so-called safe account—which is entirely controlled by the fraudsters.
Most victims are seniors above 60, often with limited digital literacy, making them vulnerable to intimidation and rapid decision-making traps. AI has drastically accelerated the scam’s scale: voice cloning, caller ID spoofing, and realistic deepfake documents make the fraud nearly indistinguishable from legitimate communication. Reports indicate a 600% rise in AI-enabled fraud over the past year.
Cybercrime expert Prof. Triveni Singh warns that modern criminals target “human trust and emotion” rather than systems. He emphasizes that no legitimate institution ever asks for remote access or money transfers over calls or emails, urging people to verify suspicious communications directly through official channels.
The Phantom Hacker scam highlights how technological progress is being weaponized to deceive the most vulnerable. Awareness, digital literacy, and immediate reporting remain the strongest defenses against these evolving threats.
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