Source: US FBI
Ahead of World Elder Abuse Awareness Day on Sunday, 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 Ohio, 5,389 individuals over the age of 60 lost more than $95 million with investment scam losses totaling over $31 million, confidence/romance scam losses totaling over $11 million, and tech support scam losses totaling over $10 million in 2024. The FBI continues to work with our local and federal partners to tackle elder fraud and stop those who attempt to harm the elderly.
The FBI is focused on finding and investigating criminals preying on the trust of older Americans,” said FBI Cleveland Special Agent in Charge Greg Nelsen. “Scams are becoming more complex, and scammers have become savvier, adding multiple levels of deceit from the moment they make contact by working in tandem with other criminals to give the illusion of legitimacy. The FBI will continue its pursuit to identify these criminals and dismantle scam and fraud-based networks.”
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, email, 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
- by calling 1-800-CALL FBI, or
- online at tips.fbi.gov or
- to the Internet Crime Complaint Center at ic3.gov.