Sophisticated overseas criminals are stealing tens of billions of dollars from Americans every year, a crime wave projected to get worse as the U.S. population ages and technology like AI makes it easier than ever to perpetrate fraud and get away with it.
William Bortz, left, stands alongside his daughter, Ave Williams, at his senior living center, Friday, May 17, 2024, in San Diego. Bortz said criminals stole his family’s nest egg of almost $700,000 in an elaborate scheme. Sophisticated overseas criminals are …
A recent case from Ohio, in which an 81-year-old man was targeted by a scammer and allegedly responded with violence, illustrates the law enforcement challenge. Some police departments don’t take financial scams as seriously as other crime and victims wind up discouraged and demoralized, according to Paul Greenwood, who spent 22 years prosecuting elder financial abuse cases in San Diego.
The Federal Trade Commission says the “vast majority” of frauds go unreported. Often, victims are reluctant to come forward. In San Diego, 80-year-old William Bortz said criminals stole his family’s nest egg of almost $700,000 in an elaborate scheme involving a nonexistent Amazon order, a fake “refund processing center” in Hong Kong, doctored bank statements and an instruction that Bortz needed to “synchronize bank accounts” in order to get his money back.
B Brady Finta B Federal Bureau Of Investigation B American Bankers Association
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