Every year, hundreds of thousands of people are scammed out of what amounts to billions of dollars. 34-year-old scientist Ilya Fomin is among them. He lost more than two thirds of the money he'd saved for a new home. The government has today outlined new obligations on banks and other industries to detect and prevent the kind of scam he fell for.
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00:00Well, you know, it was such a huge shock, you do not feel much.
00:07You are feeling like, you know, in a nightmare, you know, in a bad movie, you just will wake
00:11up or something.
00:13I lost over $280,000.
00:16So this is actually the original receipt here you can see.
00:20So here it reads $282,218.47.
00:27So these are basically all my life savings that I really saved through all my work and
00:32so on because I really wanted to settle.
00:35But of course now it means that I have a mortgage which will last for an extended period of
00:40time.
00:41They say, you are responsible because you didn't check.
00:45And I say, okay, I provided you all the details and you didn't check as well.
00:50I was supported by my friends and I didn't find much support, neither from the banks
00:57nor from the lawyers, nor from the government.
01:01So basically I realized how important it is just to have friends, how important it is
01:07just to have people around who kind of take care about you.