An FBI report released Tuesday shows a rise in losses through increasingly sophisticated tactics to trick the vulnerable.
Scammers stole more than $3.4 billion from older Americans last year, according to an FBI report released Tuesday that shows a rise in losses through increasingly sophisticated criminal tactics to trick the vulnerable into giving up their life savings.
“It can be a devastating impact to older Americans who lack the ability to go out and make money,” said Deputy Assistant Director James Barnacle of the FBI’s Criminal Investigative Division. “People lose all their money. Some people become destitute." Barnacle said investigators are seeing organized, transnational criminal enterprises targeting older Americans through a variety of schemes, like romance scams and investment frauds.
“A lot of the fraud schemes are asking victims to send money via a wire transfer, or a cryptocurrency transfer. When the victim is reluctant to do that, they’re given an alternative," Barnacle said. “And so the bad guy will use courier services.”
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