The Federal Bureau of Investigation (FBI) has issued a warning about the alarming increase in cybercrime targeting the elderly population in the United States. According to an FBI report, the Internet Crime Complaint Center (IC3) received over 880,000 complaints in 2023, with potential losses exceeding $12.5 billion. Of particular concern is the vulnerability of elderly victims, who accounted for the majority of complaints and reported losses.
California emerges as a hotspot for cybercrime against the elderly, with over 11,000 complaints filed with the IC3 by individuals aged 60 and over in 2023. The state also recorded the highest reported losses, surpassing $620 million. Various tactics, including phishing, spoofing, and extortion, are employed by cybercriminals to defraud older adults, exploiting their trust and financial resources.
Among the common fraud schemes affecting seniors are confidence/romance scams, tech support scams, cryptocurrency scams, and investment scams. These fraudulent activities often result in devastating financial losses for victims, who may resort to drastic measures such as remortgaging homes or emptying retirement accounts to cover their losses.
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To combat these threats, the FBI recommends vigilance and caution, urging individuals to recognize scam attempts, resist pressure to act quickly, and safeguard personal information. Additionally, maintaining up-to-date security measures and promptly reporting suspicious activities are essential steps in mitigating the risk of falling victim to cybercrime.