Schemes targeting seniors account for $3.4 billion in reported losses, FBI says

Washington — Americans complete 60 years of property fell unfortunate to alleged elder fraud crimes much often past twelvemonth than successful immoderate different twelvemonth and accounted for an estimated $3.4 cardinal successful full reported losses, according to a recently released FBI report. 

Reports of criminal schemes targeting seniors successful nan U.S. accrued by 14% betwixt 2022 and 2022, national investigators said, informing that finance scams are nan costliest to nan elderly. In all, complete 101,000 complaints of fraud perpetrated against individuals complete 60 years of property were revenge to national rule enforcement past year, nan astir of immoderate property group passim nan country. 

There were 5,920 individuals complete 60 who mislaid much than $100,000 arsenic a consequence of criminal fraud and national trends past year, demonstrating that seniors are progressively being targeted and falling victim, nan study said. 

FBI officials said Tuesday they hoped nan caller study will some radiance a ray connected fraud schemes and forestall early victims from falling prey to forbidden scammers. 

A mostly of elder fraud scams spell unreported to rule enforcement by nan victims, which officials said makes it difficult to quantify nan full effect of nan crimes nationwide. AARP estimated successful a 2023 study that $28.3 cardinal is mislaid to elder fraud scams each year, 72% of which is taken by individuals who are known to nan victims. 

On Friday, a California man was arrested aft investigators said he was allegedly trying to prime up $35,000 from 2 seniors who had antecedently fallen unfortunate to his elder-fraud scheme, which progressive phishing attacks and 2 individuals who pretended to beryllium national agents. 

Investigators said Tai Su was conscionable 1 constituent of a ample criminal endeavor that disguised itself arsenic a Microsoft support strategy and a financial institution. The hackers would first summation entree to nan victims' computers done phishing scams and past would person nan seniors to retreat tens of thousands of dollars from their slope accounts. 

Su now faces national charges and made an first quality successful tribunal connected Monday.. 

According to nan FBI's study released connected Tuesday, tech support scams stay nan astir communal shape of elder fraud crime. 

In:
• Fraud