Source: US FBI
Ahead of World Elder Abuse Awareness Day on June 15, the FBI is reminding elderly Americans and their loved ones about elder fraud. This type of fraud takes many forms as criminals seek to take advantage of this vulnerable and growing population. The FBI is committed to educating the public about these scams and investigating financial fraud schemes against seniors. Not only are there devastating financial consequences, but these victims and their loved ones can suffer great emotional and mental effects because of these scams.
The FBI investigates financial scams targeting seniors, including investment scams, technical/customer support schemes, money mule and romance scams, and others. According to the FBI’s Internet Crime Complaint Center (IC3) data, in 2024 there was a total of $4.885 billion in losses from 147,127 complaints. This is a 46% increase in complaints from 2023, as well as a 43% increase in losses. In Hawaii, total losses were $18,851,052 in 2024, with investment scam losses totaling over half of that number at $9,809,411. The FBI continues to work with our local and federal partners to tackle elder fraud and stop those who attempt to harm the elderly.
“While financial scams are nothing new, the high-tech methods scammers use are constantly evolving with technology. Investment scams are particularly malicious as they prey on victims’ emotions and drain them of their life savings,” said FBI Honolulu Special Agent in Charge David Porter. “The FBI is committed to investigating, disrupting, and bringing these criminals to justice. We encourage our community to use caution when sending money to others, and to contact the FBI if you think you could be the victim of a scam.”
Seniors are frequently targeted by criminal actors, as they are often perceived to be more polite and trusting. These actors may also assume that seniors are more financially stable, own real estate, spend a great deal of time alone, and are less likely to report fraud if they feel ashamed or are unfamiliar with reporting channels such as IC3.gov.
Fraud can happen to anyone, and small steps can be taken to protect yourself and your information:
- Search online for the contact information (name, phone number, e-mail, addresses) of any unknown source which reaches out to you, as well as the proposed offer. Verify the legitimacy of businesses on websites such as Better Business Bureau. Other people have likely posted information online about businesses and individuals attempting to run scams.
- Resist the pressure to act quickly. Scammers create a sense of urgency to lure victims into immediate action, typically by instilling trust and inducing empathy or fear, or the promise of monetary gains, companionship, or employment opportunities.
- Be cautious of unsolicited phone calls, mailings, and door-to-door service offers.
- Never give or send to unverified people or businesses any personally-identifiable information, money, checks, gift cards, or wire information.
- Take precautionary measures to protect your identity should a criminal gain access to your device or account. Immediately contact your financial institutions to place protections on your accounts and monitor for suspicious activity.
If you believe you are a victim of fraud, or know a senior who may be—regardless of financial loss—immediately report the incident to your local FBI field office or other law enforcement agency, or