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New report by Federal Bureau of Investigation (FBI) A fraud scheme targeting elderly Americans was found to have cost victims more than $3 billion in 2023.
F.B.I. elderly fraud The report, compiled by the Internet Crime Complaint Center (IC3), shows that complaints filed by victims aged 60 and older will increase by 11% from 2022, with 101,068 complaints filed by victims in that age group in 2023. It turned out that this was the case.
These whistleblowers reported total damages of more than $3.4 billion, with an average loss of $33,915 per victim. 5,920 complainants, approximately 5% of victims, reported losing more than $100,000 as a result of being a victim of a fraud scheme.
Michael Nordwall, deputy director of the FBI’s Criminal Investigation Division, said, “These numbers are significant because only half of the more than 880,000 complaints received by IC3 are affected by this vulnerable segment of our population.” “It does not fully capture the scams and scams that target people.” Age data was included in 2023. ”
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According to the FBI’s IC3 Elderly Fraud Report, Americans 60 and older lost more than $3.4 billion to fraud in 2023. (Matthias Bork/Photo Alliance via Getty Images/Getty Images)
Technical support programs are the most prevalent type of crime targeting whistleblowers over the age of 60, with 17,696 such crimes identified in the FBI’s IC3 report.
This was followed by personal data breaches (7,333), trust and romance fraud (6,740), non-payment and non-delivery fraud (6,693), investment fraud (6,443) and extortion (5,396).
The report also noted that cryptocurrencies were the medium or tool used in 12,284 of the reported crimes. cryptocurrency wallet Targeted in 4,684 reported incidents.
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Fraud victims over 60 and losses since 2018, according to FBI report. (Department of Justice/FOX News)
Cryptocurrency-related complaints have cost Americans over the age of 60 a total of more than $1.1 billion. Almost two-thirds, or 64%, were investment fraud, compared to technology fraud, customer support fraud, government impersonation In second place, around 16% of losses were related to cryptocurrencies.
Investment crime was the costliest financial crime targeting people over 60, costing victims more than $1.2 billion in 2023, while technology support fraud cost victims $590 million. Illegal profits amounting to nearly $100,000 were obtained.
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The FBI says fraud victims should not be afraid or embarrassed to report crimes to the FBI or other law enforcement agencies. (Celal Goune/Anadolu Agency via Getty Images/Getty Images)
Other types of crimes targeting the elderly that have proven lucrative for scammers are Business Email Compromise (BEC), which has resulted in losses of over $382 million, and approximately $357 million in losses. trust and romance fraud, which resulted in approximately $180 million in losses, and personal data breaches. This resulted in a loss of just under $110 million.
“Reporting fraud helps the FBI identify trends and typologies, initiate new investigations, enhance ongoing investigations, and send public awareness messages. Don’t be afraid or embarrassed,” Nordwall added. “The FBI stands ready to assist and is here to combat these threats.”
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