GRAND RAPIDS, Mich. — A new FBI report claims scammers are specifically targeting older Americans. It details $3.4 billion in losses, along with a 14% boost in fraud complaints.
"Seniors are traditionally the hardest hit when it comes to dollars amount spent and lost when it comes to scams," Better Business Bureau in Western Michigan VP of Community Relations/Educational Foundation Troy Baker explained.
The FBI's Elder Fraud Report show that Americans over the age of 60 were conned out of billions of dollars in 2023, and Baker says he's not surprised.
"I think what we're seeing is that it's being reported more, and that's a fantastic sign — that people that come across these scams are actually reporting them and sharing the information," Baker added.
The highest amount of fraud complaints came from tech support scams, according to the report, while the costliest complaints were from investment scams — with 6,000 victims losing more than $100,000 each.
"I think one of the interesting things with this report is a common thread for seniors that a lot of these scams are technology based," Baker said, adding it's a myth that seniors don't use technology. Many do, and he recommends learning online safety tips and asking for a second opinion if you're not sure.
"So, having somebody that, on the front end, that you can talk to and get some advice from and be vulnerable with is the best way to stay safe," Baker said. "We often tell people [to] pay attention to how they're asking you to pay. Is that how you typically pay for something? If it's cryptocurrency, if it's wire transfers, it it's payment apps — really be cautious. Odds are pretty good that's a scam."
FBI Elder Fraud Report 2023 by WXMI on Scribd
The FBI reminds us that scammers can and will target people of any age. It says last year, 300,000 people under the age of 60 also fell victim to scams.
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