Reports of elder fraud crimes increased by 14% in 2023, according to a new federal report.
Washington â Americans over 60 years of age fell victim to so-called elder fraud crimes more frequently last year than in any other year and accounted for an estimated $3.4 billion in total reported losses, according to a newly released FBI report. Reports of criminal schemes targeting seniors in the U.S. increased by 14% between 2022 and 2022, federal investigators said, warning that investment scams are the costliest to the elderly.
estimated in a 2023 study that $28.3 billion is lost to elder fraud scams each year, 72% of which is taken by individuals who are known to the victims. On Friday, a California man was arrested after investigators said he was allegedly trying to pick up $35,000 from two seniors who had previously fallen victim to his elder-fraud scheme, which involved phishing attacks and two individuals who pretended to be federal agents.
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