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2024 Marks Pivotal Year for Mental Health Advances Amid Growing Need for Services

Progress in mental health treatment has often been slow and incremental, with breakthrough therapies and adequate professionals in short supply. However, 2024 proved to be a game-changing year, driven by decades of research and a renewed focus on mental health in the aftermath of the pandemic.

In March, the U.S. Food and Drug Administration (FDA) approved Rejoyn, the first digital therapeutic for treating major depressive disorder. This app-based treatment opens up a new avenue for mental health care, offering greater accessibility to those in need. Six months later, the FDA approved Cobenfy, the first new drug for schizophrenia in 30 years. Cobenfy targets a different brain chemical system, offering hope for better treatment outcomes for patients. Additionally, the FDA reviewed a request to approve MDMA for post-traumatic stress disorder (PTSD), marking a significant step in the potential use of psychedelics for mental health treatment, although the approval was not granted pending further research.

These innovations come as mental health issues continue to rise, especially among the youth. According to federal survey data from 2021-22, about 20% of U.S. teens report symptoms of anxiety or depression, but 20% of them cannot afford therapy. The national 988 lifeline for mental-health crises handled over 5.3 million calls, texts, and chats this year, underlining the growing demand for services. U.S. Surgeon General Dr. Vivek Murthy highlighted the mental health risks posed by social media for young people and the stress experienced by parents in today’s fast-paced society.

Dr. Ashish Jha, Dean of Brown University’s School of Public Health, emphasized the shortage of trained mental health professionals but highlighted how innovations like Rejoyn and Cobenfy can ease the burden on providers. Cobenfy addresses long-standing issues with schizophrenia treatments, which have had limited effectiveness and severe side effects. Early data shows Cobenfy reduces symptoms like hallucinations and paranoia, which could lead to better adherence to treatment.

Rejoyn, which supplements traditional therapies, helps users engage their emotional and cognitive processing centers through smartphone prompts. Research shows that people who used the app for six weeks saw improvements in brain activity and reduced depression symptoms. These digital tools may improve responsiveness to other treatments like cognitive behavioral therapy or antidepressants.

While these advancements emerged in 2024, they reflect decades of research, trial, and error. The year also saw breakthroughs in other medical fields, from CRISPR-edited gene therapies for sickle cell disease to the first pig-to-human kidney transplant. Dr. Eric Topol, founder of the Scripps Research Translational Institute, noted the unprecedented acceleration of medical progress across various fields.

However, there are concerns about future research funding. With potential cuts to federal research budgets under the incoming administration, experts worry that such measures could stifle innovation, particularly for underserved areas like mental health. Dr. Jha warned that future generations might bear the brunt of these reductions, as today’s medical advancements stem from investments made decades ago.

As trust in science continues to wane in certain circles, restoring confidence in research and innovation will be crucial for continuing progress in mental health care. While funding challenges persist, the private sector and philanthropists may step in, though this could lead to less diverse investments and greater disparities in access to care. Ultimately, experts stress the importance of sustained investments to meet the growing demand for mental health services and ensure continued progress.

Business

Fraudsters are increasingly using AI-generated images and videos to trick people into handing over sensitive personal and financial information, according to FraudSMART, the financial crime awareness initiative operated by the Banking and Payments Federation Ireland (BPFI). The organisation has reported a rise in online adverts promoting fake, State-backed investment schemes. These scams often use fabricated images of well-known politicians and business figures to make the offers appear legitimate and encourage users to click on registration links. Niamh Davenport, head of financial crime at BPFI, said scammers are deliberately exploiting recent media coverage of a planned State-backed savings and investment scheme to give their frauds a sense of credibility. “They often claim the scheme is open to everyone, but that places are limited and being ‘snapped up’ fast, in order to pressure people to act quickly,” she said. “They typically promise guaranteed returns or a guaranteed monthly income.” FraudSMART said that while anyone can be targeted, people in their early 50s are particularly vulnerable to investment scams. This age group is often focused on retirement planning, making them more receptive to financial offers that appear secure or high-yield. According to the organisation, most scams follow a similar pattern. Victims are first directed to click a registration link and complete a short online form providing their contact details. They are then contacted by someone posing as a financial adviser, who urges them to make an immediate “security deposit” to secure participation in the scheme. Once a payment is made, the money is quickly moved through multiple accounts, often overseas, making recovery extremely difficult. Davenport warned that scammers are becoming more sophisticated in their use of technology, particularly AI tools that allow them to create realistic but entirely fake promotional content. These materials are designed to mimic legitimate financial advertisements and build trust with potential victims. Recent figures from An Garda Síochána show investment fraud rose by 20% last year, with losses exceeding €20 million. The scale of individual scams varies widely, ranging from smaller crypto-related frauds involving a few hundred euro to large-scale investment schemes where victims lose tens of thousands. FraudSMART is urging the public to remain cautious when encountering online investment advertisements, especially those promising guaranteed returns or requiring urgent action. It also advises consumers to avoid sharing personal information with unverified sources and to be wary of pressure tactics designed to rush financial decisions. Authorities continue to warn that fraudsters are adapting quickly, using advanced digital tools to target victims across multiple platforms.

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Fraudsters are increasingly using AI-generated images and videos to trick people into handing over sensitive personal and financial information, according to FraudSMART, the financial crime awareness initiative operated by the Banking and Payments Federation Ireland (BPFI). The organisation has reported a rise in online adverts promoting fake, State-backed investment schemes. These scams often use fabricated images of well-known politicians and business figures to make the offers appear legitimate and encourage users to click on registration links. Niamh Davenport, head of financial crime at BPFI, said scammers are deliberately exploiting recent media coverage of a planned State-backed savings and investment scheme to give their frauds a sense of credibility. “They often claim the scheme is open to everyone, but that places are limited and being ‘snapped up’ fast, in order to pressure people to act quickly,” she said. “They typically promise guaranteed returns or a guaranteed monthly income.” FraudSMART said that while anyone can be targeted, people in their early 50s are particularly vulnerable to investment scams. This age group is often focused on retirement planning, making them more receptive to financial offers that appear secure or high-yield. According to the organisation, most scams follow a similar pattern. Victims are first directed to click a registration link and complete a short online form providing their contact details. They are then contacted by someone posing as a financial adviser, who urges them to make an immediate “security deposit” to secure participation in the scheme. Once a payment is made, the money is quickly moved through multiple accounts, often overseas, making recovery extremely difficult. Davenport warned that scammers are becoming more sophisticated in their use of technology, particularly AI tools that allow them to create realistic but entirely fake promotional content. These materials are designed to mimic legitimate financial advertisements and build trust with potential victims. Recent figures from An Garda Síochána show investment fraud rose by 20% last year, with losses exceeding €20 million. The scale of individual scams varies widely, ranging from smaller crypto-related frauds involving a few hundred euro to large-scale investment schemes where victims lose tens of thousands. FraudSMART is urging the public to remain cautious when encountering online investment advertisements, especially those promising guaranteed returns or requiring urgent action. It also advises consumers to avoid sharing personal information with unverified sources and to be wary of pressure tactics designed to rush financial decisions. Authorities continue to warn that fraudsters are adapting quickly, using advanced digital tools to target victims across multiple platforms.

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