Elder crime losses totaled more than $3.4 billion in 2023 — up 11% from the year prior.
At least 101,000 Americans ages 60 and older were victims of digital fraud last year, with the average person losing $33,915, according to
Since at least 2018 the FBI’s Internet Crime Complaint Center has published statistics showing the extent of the impact cybercrime has had on older Americans. "Criminals use fictitious identities to develop relationships and build rapport with victims," it said."Criminals target victims using dating applications , social media platforms, professional networking sites, or encrypted messaging apps."“Combatting the financial exploitation of those over 60 years of age continues to be a priority of the FBI,” said Assistant Director Michael D. Nordwall, who leads the bureau's Criminal Investigative Division.
Victims reported selling their homes, emptying retirement accounts, and borrowing from family and friends to cover losses in these scams.
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