Americans aged 60 and older are increasingly becoming victims of financial scams, with reported losses soaring to billions of dollars annually.
The data from the FBI’s Internet Crime Complaint Center reveals that in 2023, individuals in this age group reported losses exceeding $3.4 billion, marking an 11 per cent increase from the previous year.
Predominant scams and state-specific trends
The most frequent issues reported involved tech support fraud and investment scams.
Florida emerged as a hotspot for such fraudulent activities, ranking second nationwide in both the number of complaints and the magnitude of reported losses.
According to reports, Seniors in Florida faced substantial financial hits, with over $90 million lost to investment schemes and significant amounts to tech support and romance scams.
Official responses and preventative measures
The FBI has prioritized combatting these financial exploitation crimes.
The agency emphasizes the importance of reporting these crimes. Despite the common feelings of shame and embarrassment that may delay such actions, immediate reporting can aid in addressing the issue.
The FBI urges all individuals who suspect they have been victims of a scam to come forward and contact authorities.
