Home Consumer Fraudsters Bilk Billions from Older Americans

Fraudsters Bilk Billions from Older Americans

Photo 213849322 | Elder Phone Scam © Andrey Popov | Dreamstime.com
(Photo 213849322 | Elder Phone Scam © Andrey Popov | Dreamstime.com)

According to the FBI’s Internet Crime Complaint Center (IC3), in 2023 total losses reported by those over the age of 60 topped $3.4 billion, an almost 11% increase in reported losses from 2022. Tech support fraud was the number one crime type reported by complainants over 60, while investment scams continued to be the costliest to the senior population in terms of financial losses suffered.

Florida ranked second in the nation for the number of complaints and reported losses. Seniors in the Sunshine State reported losses of more than $90 million to investment schemes, $51,496,415 to Tech Support scams, and over $40 million to Romance scams.

“These heartless fraudsters prey on vulnerable older Americans often leaving them destitute and unable to enjoy their retirement years,” said Jeffrey B. Veltri, Special Agent in Charge of the FBI Miami Field Office. “We will use all of our investigative means to hold these criminals accountable.”

Combating the financial exploitation of those over 60 years of age continues to be a priority of the FBI. In partnership with federal, state, and local law enforcement agencies, the FBI works vigorously to aid victims and identify and investigate the individuals and criminal organizations that perpetrate these schemes and target the elderly.

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Too often, victims feel shame and embarrassment which can prevent or delay reporting of the crime.

If you or someone you know is a victim of fraud, contact law enforcement immediately. You can call the FBI at 1-800- CALL FBI, file a complaint with IC3 at www.ic3.gov , or submit your tip online with the FBI’s easy-to-navigate website: tips.fbi.gov.

2023 IC3 Elder Fraud Report and State Reports: Internet Crime Complaint Center(IC3) | Annual Reports

The Internet Crime Complaint Center is a division of the Federal Bureau of Investigation concerning suspected Internet-facilitated criminal activity. The IC3 gives victims a convenient and easy-to-use reporting mechanism that alerts authorities of suspected criminal or civil violations on the Internet.