The Boomerang Story

 Over 50 years ago, when I was a grad student, I had an friend who was a professor of Astronomy.  He went on sabbatical with his family to Australia for a year.  One day I received a padded envelope from Australia from my friend. The envolope had nothing inside, but there was a note on the outside that was put on there by the US Postal Service that said that the contents had apparently pushed its way out of the package and was lost.  However, if I could tell them what was in the package, they might be able to locate it and send it to me.

I remember thinking that it would be a fat chance that they could recover the item, but, first, I had to find out what was in the padded envelop. I wrote a letter to my friend telling him about the situation (there was no email in those days),  A few weeks later I got a response that he had sent a boomerang for my young son.  I filled out the Postal form and sent it in to them, not really expecting anything in return.

Wouldn't you know it, after a few weeks a got a package in the mail from the Post Office with a boomerang inside.  Well, I was quite shocked, to tell you the truth.  In all that bureaucracy of the Post Office they were able to sort it all out and locate this needle in a haystack.  Not only that, it was a boomerang that went in one direction and ultimately ended up where it was supposed to go in yet another direction: the boomerang had boomeranged!

The Most Lucrative and Widespread Scams and what AI Can do to Help Mitigate them

 

The Most Lucrative Scams (Highest Financial Loss)

Scam Category	Target Medium	How It Works
1. Investment & Crypto Schemes ("Pig Butchering")	Social Media, Dating Apps, Messaging Platforms	Fraudsters build trust over weeks or months before convincing victims to invest in fake cryptocurrency or trading platforms. Victims see artificial "gains" on a compromised app, encouraging larger deposits until withdrawals are blocked.
2. Business Email Compromise (BEC)	Email / Phishing	Cybercriminals hack or spoof executive or vendor email accounts to intercept official transactions, tricking employees into wiring corporate funds or altering real invoice payment details.
3. Imposter & Bank Security Fraud	Phone Calls (Vishing), Text Messages (Smishing)	Scammers pose as bank fraud departments, IRS agents, or law enforcement. They create urgency by warning of a "compromised account" and direct victims to move their money to a "safe" account or crypto kiosk.
4. Tech Support Fraud	Browser Pop-ups, Cold Phone Calls	Fake security warnings prompt users to call a support line. Scammers gain remote access to the victim's computer, claim to fix nonexistent viruses, and drain bank accounts directly or demand cash/gold couriers.
5. Romance Scams	Dating Sites, Social Media	Fraudsters create fake online personas to establish emotional connections, eventually fabricating emergencies (medical bills, travel delays, legal troubles) to extract money.

---

The Most Widespread Scams (Highest Volume)

• Phishing & Smishing: Mass emails or texts disguised as notifications from delivery services (USPS, UPS), streaming platforms, or banks asking users to click a link and "verify" login credentials or credit card info.

• Online Shopping & Non-Delivery Scams: Fake storefronts on social media selling items at massive discounts that never arrive or turn out to be cheap counterfeits.

• Fake Job Offer Scams: Remote job listings that issue a fake check for "home office equipment" and ask the applicant to transfer money back before the check bounces.

---

Key Red Flags to Watch For

1. Urgency and Secrecy: Demands to act immediately without consulting family, financial advisors, or bank branch officers.

2. Untraceable Payment Methods: Demands for payment via cryptocurrency kiosks (Bitcoin ATMs), wire transfers, peer-to-peer apps (Zelle, Venmo), or gift cards.

3. Unsolicited Contact: Incoming calls or messages claiming your bank account, computer, or identity is under active threat.

4. Guaranteed High Returns: Any investment opportunity promising risk-free, rapid returns.

____________________________________________________________________________

What You Can Do to Mitigate a Scam

    1. Use AI to Screen potential Scams:  Ask AI if the site is legitimate or is likely a scam. If              you are asked to log onto a site, ask AI to log onto the site for you and summarize what is            there 

     

    2. Always Use an Independent Source: To find the telephone number or email address of            an alleged organization that is attempting to contact you. DO NOT use the contact method 

        supplied by them.

    3. Never let Anyone Take Over Control of your Computer Remotely: Unless you are                  absolutely positive that you are dealing with a legitimate source, do not allow anyone to                take remote control of your computer.

    4. Always use a Credit Card to Pay for Transactions: Instead of using untraceable                      methods of payment, a fraudulent transaction on your credit card can always be contested.