Elder fraud

The FBI is recognizing World Elder Abuse Awareness Day on June 15 by alerting elderly Americans and their families about the dangers of elder fraud. The awareness campaign aims to educate seniors about common fraud schemes targeting their demographic.

Elder fraud complaints to the FBI's Internet Crime Complaint Center increased by 14% in 2023, with associated losses rising by 11%. The IC3 released its 2023 Elder Fraud Report on April 30, providing statistics on fraud incidents that explicitly target older Americans' money and cryptocurrency.

An Elder Justice Task Force in California is collaborating across agencies to combat grandparent scams and other financial fraud targeting older Americans. These scams cost seniors billions of dollars annually, making coordinated enforcement efforts critical to protecting vulnerable populations.

The Justice Department is investigating data brokers' role in facilitating elder fraud schemes. The investigation examines how personal information sold by data brokers enables criminals to target and defraud vulnerable elderly populations. This raises concerns about data broker practices and their responsibility in protecting consumers from exploitation.

A former FBI and CIA director is issuing a public warning about elder fraud schemes targeting older adults. The warning is directed at seniors, their families, and caregivers to increase awareness of fraud risks.

People over 60 lost nearly $1 billion to online frauds and scams in the previous year, highlighting a significant problem for seniors. World Elder Abuse Awareness Day 2021 draws attention to common fraud schemes targeting older people and provides practical protection strategies for individuals and their families.